development activity update - ocso - december 8, 2016
TRANSCRIPT
Development Activity Review
Orange County Sheriff’s Office
December 8, 2016
Presentation Outline
Introduction Development Activity Impact Fees Future Growth Summary
Presentation Outline
Introduction Development Activity Impact Fees Future Growth Summary
Introduction
Activity levels return to normal Construction valuation increased Indicators for continued
growth in 2017
Presentation Outline
Introduction Development Activity Impact Fees Future Growth Summary
2,244
1,017
689 853 902
1,585
2,100 2,130 2,394
3,640
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16
Development Activity
Single Family Residential – New Construction
Development Activity
Map of FY16 SFR Permits
Development Activity
Map of FY16 SFR Permits
Development Activity
Map of FY16 SFR Permits
Development Activity
Map of FY16 SFR Permits
Count of FY16 SFR Permits by Sector
Development Activity
Sector Count
1 167 2 400 3 883 4 906 5 1,152 6 21
$517
$239 $174
$240 $309
$554
$767 $814
$889
$1,289
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16Mill
ions
Development Activity
Single Family Residential – Total Valuation
$230k $235k $253k
$281k
$343k $349k $365k
$382k $371k $354k
$0
$50
$100
$150
$200
$250
$300
$350
$400
$450
FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16Thou
sand
s
Development Activity
Single Family Residential – Average Valuation
11,436
8,371
13,828
19,362 18,055
17,217 18,790
17,582
21,067 21,172
0
5,000
10,000
15,000
20,000
25,000
FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16
Development Activity
Residential Units – Existing Home Sales
Foreclosure Filings
8,777
23,196
31,014
22,724
9,622
13,900
10,144
6,069 4,994 4,181
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16
Development Activity
Existing Homes Sales – Normal vs. Distressed
29% 33%
43%
57%
68% 70%
84%
71% 67%
57%
43%
32% 30%
16%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16
NormalDistressed
Development Activity
2,863
757
248
674 717
1,174
2,167
3,039
4,822
3,366
0
1,000
2,000
3,000
4,000
5,000
6,000
FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16
Development Activity
Total Platted Lots
$73
$48
$33
$54
$76
$93
$78
$96
$116
$144
$0
$20
$40
$60
$80
$100
$120
$140
$160
FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16Mill
ions
Development Activity
Townhomes – Total Valuation
Development Activity
Map of FY16 Townhome Permits
$229
$100
$38 $48 $61
$227
$282
$213
$125
$509
$0
$100
$200
$300
$400
$500
$600
FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16
Mill
ions
Development Activity
Multi-Family Residential – Total Valuation
Development Activity
Map of FY16 MFR Permits
Map of FY16 MFR Permits
Development Activity
Dwell at Lake Nona
Integra Cove
Zen Luxury
Reserve at Alafaya
Ancora
Oasis at Grande Pines
Brixton Landing
Goldenrod Pointe
$701
$647
$341
$249 $263
$350 $351
$455 $460
$546
$0
$100
$200
$300
$400
$500
$600
$700
$800
FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16Mill
ions
Commercial – Total Valuation
Development Activity
Development Activity
Map of FY16 Commercial Permits
Development Activity
Map of FY16 Commercial Permits
Hamlin
Westside Shoppes
Development Activity
Map of FY16 Commercial Permits
Walmart Market
Walmart Market
Lucky’s Market
Orchard Supply
Development Activity
Map of FY16 Commercial Permits
Bent Oak
Horizon Commerce
Siemens
Crews Commerce
$803
$414
$27 $0 $20 $8 $19 $8
$51 $82
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16Mill
ions
Hotel – Total Valuation
Development Activity
Development Activity
Map of FY16 Hotel Permits
$2.32
$1.45
$0.61 $0.59 $0.73
$1.23
$1.50 $1.58 $1.64
$2.57
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16Bill
ions
New Construction – Total Valuation
Development Activity
76,583
52,603
39,453 38,381 40,023
45,765
52,397
58,211
65,302 70,427
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16
Development Activity
Total Building Permits
Presentation Outline
Introduction Development Activity Impact Fees Future Growth Summary
Impact Fees
Ensure new development pays for services Used to cover capital expenditures
–Facilities, vehicles, land & equipment Commercial – Transportation, Law & Fire Residential – Adds School & Parks Fees assessed at
permit issuance
$85.9
$68.6
$30.6 $29.9 $27.1
$35.8 $33.9
$58.9 $63.8
$66.7
$0
$10
$20
$30
$40
$50
$60
$70
$80
$90
$100
FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16Mill
ions
Impact Fees
Total Impact Fees
Law Enforcement Impact Fees
$1.4 $1.3
$0.5 $0.4 $0.4 $0.5
$1.1
$1.9
$1.7
$2.8
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
FY 07 FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16
Mill
ions
Impact Fees
Impact Fees – Law Enforcement
Single Family Residential (unit) $271 Multi-Family Residential (unit) $319 Mobile Home (unit) $263
Commercial/Retail (1,000 Sq. Ft.) $494 Manufacturing (1,000 Sq. Ft.) $118 Office/Institutional (1,000 Sq. Ft.) $109 Private Schools (1,000 Sq. Ft.) $32 Warehouse (1,000 Sq. Ft.) $57 Hotel/Motel (per room) $135
Impact Fees
Law Enforcement Fee Update –Consultant Selected (Tindale Oliver) –Contract Finalized (underway) –Draft Fee Development (January – April) –Advisory Board Review (May – September) –BCC Adoption (Late 2017)
Presentation Outline
Introduction Development Activity Impact Fees Future Growth Summary
Future Growth
Sunbridge Camino Reale Lake Pickett South – “The Grow” Horizon West International Drive Redevelopment
Future Growth
Sunbridge
Future Growth
Sunbridge – Developed by Tavistock – 4,787 acres – Up to 7,370 Dwelling Units – 6.3 million SF of office/retail – 2.9 million SF of industrial
Future Growth
Camino Reale
Future Growth
Camino Reale – Connects to Sunbridge – 1,032 acres – Up to 3,000 Dwelling Units – 330,000 SF of non-residential
–OCSO shooting range –CC&R noise
Future Growth
Lake Pickett South – “The Grow”
Future Growth
Lake Pickett South – “The Grow” – Up to 2,078 Dwelling Units – 178,000 SF of non-residential – Working farm – Equestrian facility
– Currently being
challenged at State
–North project denied
Future Growth
Horizon West
Future Growth
Horizon West – 4% of County acreage – 53% of residential growth – 20,704 acres – 40,282 Dwelling Units – 13,000 permitted – ~ 30% buildout
Future Growth
Horizon West – Lakeside Village – Complete – Village of Bridgewater – Complete – Village F – Under construction – Village H – Starting construction – Village I – PD approval – Town Center – Under Construction
Future Growth
International Drive Redevelopment
Future Growth
International Drive Redevelopment – Over $1 billion in private sector investment – Skyplex, Starflyer – Hotels, Multi-family, retail
Presentation Outline
Introduction Development Activity Impact Fees Future Growth Summary
Summary
Higher valued projects Strong indicators for continued growth – 2017 Impact fee update impacts revenue Residential growth concentrated
Development Activity Review
Orange County Sheriff’s Office
December 8, 2016