an urban renewal case study - msca west end redevelopment an urban renewal case study pat mascia –...
TRANSCRIPT
THE WEST END REDEVELOPMENT
An Urban Renewal Case Study
Pat Mascia – Duke Realty CorporationDarryle Henry – Duke Realty CorporationMark Fallon – Jeffrey R. Anderson Real Estate
Location, Location, Location
Functional Obsolescence
5219 Building
Challenges/Opportunities
• Tale of Two Cities• Soil and Demolition• Traffic/Infrastructure and Parking
BUT …
• Established Demographics• City Wanted Density
Attacking Vacancy With Destruction
But We Rescued The Sailors!
Process
• Duke Master Planning (1 year)• City Planning Process (2 years)
- AUAR- Neighborhood Meetings- City Council Study Sessions and Formal
Meetings- Weekly Meetings with City Staff
COLLABORATION!
Incentives
• City’s Hot Buttons- Fiscal Disparities Paid within District- Length of TIF District (15 years)- Unique Project
• Developer’s Hot Buttons- Timing- $$$
• Compromise- $21 MM in TIF/Parkland Dedication- City Rebuilds Park Place ($5 MM)- 20 year TIF District
Master Plan
The Offices at West End
16th Street at Park Place
Park Place Arcade
West End Boulevard
From An Airplane
Atrium
Timing
• Demolition Complete• Soil Correction Ongoing• April, 2008 – Commence Road and Utility
Infrastructure• May, 2008 – Commence Underground Parking
and Vertical Construction • 2008 – 2009 – City Rebuilds Park Place• September 15, 2009 – Retail Grand Opening
THE WEST END REDEVELOPMENT
An Urban Renewal Case Study
Pat Mascia – Duke Realty CorporationDarryle Henry – Duke Realty CorporationMark Fallon – Jeffrey R. Anderson Real Estate