ical

Prairie Vert2185

Regional Context

Local Context

The • Denver Design District is situated in a rich, expanding

fabric of transit-oriented communities within Denver’s Smart

Growth Boundary.

According to • Metro Vision 2035, Denver’s population will increaseover50%from2.7millionto4.2millionresidentsby2035.

As the global economic climate continues to fluctuate, • cities are once again being considered a “smart living choice.”

While regionally linked by transit, the Denver Design Dis-•

trict (DDD) lacks connections to the local ecosystem and

surrounding areas. Dominated by big box retail, the DDD • lacks many of the

essential elements of a healthy community.

The DDD presents the • opportunity to serve as a model for

sustainable, mixed-use development within southern

Denver’s more affluent neighborhoods.

Community Elements

• American demographics are changing. Can a mixed-

use community provide for

the family while fulfilling the

needs of retirees, couples and

individuals?

Renewable Energy Affordability Fresh & local food

Approx.500sq.ft. Approx.1500sq.ft.Approx.1000sq.ft. Job Market Steady/Close Proximity Local/ Part-time

Public Transit Walkability Mobility

Activism Child Care Safety

Culture Parks/Play Areas Urban gardens/trails

Services Education Stewardship

Inefficient, incongruent land use

Development pressures

Disconnected regional

& local green spaces

Two

mile

s ea

st: W

ashi

ngto

n Pa

rk, C

herr

y Cr

eek

Shop

ping

, sch

ools

Two

mile

s w

est:

Cent

ral/

CVP

corr

idor

, Pla

tt Ri

ver

mul

ti-us

e tr

ail

Two miles south: Cherokee Denver redevelopment, golf courses

Two miles North: Downtown Denver

N

NTS

NTS

Singles/couples Families Seniors

2185

iPrairie Vert

calParti

Within • natural communities, living and non-living components join together to form interdepen-

dant relationships, which become greater than the sum of their parts. Prairie Vert emulates these

relationships in a modular form, merging the horizontal prairie and vertical city into a multi-lay-ered community: one that is highly responsive to social, environmental and economic stimuli.

A Holistic Modular Community

Land Use by level

6th

5th

4th

3rd

2nd

1st

Green network

The basic • modular unit measures540squarefeet:

the average size of a studio

apartment in Denver.

The module can then • build upon itself, creating various

sized living conditions serv-

ing the three target demo-

graphics.

N

Modularity

Modular Massing

2185

Modulated buildings• areeconomicallyattractiveThe36’x

15’basemoduleisthemaximumsizeatypicaltrailerortrain

car can transport. Mass production spreads inital costs over a

greater number of units, reducing overall construction cost and

waste, while allowing for future increases in density.

Joining and • stacking thebasemodulein36’x60’rectangles,creates a system of layered public, semi-public, and private

green spaces. These flexible spaces serve as a vertical continu-

ation of the prairie community, bringing all users closer to the

regional environment.

These elevated green spaces can grow • agricultural products to

supply the culinary heart and residents of Prairie Vert.

15’ x 4 15’ x 2 15’ x 4 15’ with terrace

Modular Flexibility

4 Bedroom Apartment 1 Bedroom Apartment 2 Bedroom Apartment Studio

iPrairie Vert

cal

2185Master PlanScale: 1” = 300’

Gateway District: major retail

Restaurant Alley: culinary focus

Design District

Civic District: major event venue

Structured parking:

wrapped in retail & roof park space

Greenway system with turf block

continuum across streets

Transit Village & Educational Facility

Existing electrical substation: heat

harvesting & community art space

Linear park space connecting green-

way system

West side Broadway retail consistent

with existing east side

Wide sidewalks to accomodate pe-

destrian traffic and continue existing

bike ways from adjacent neighbor-

hoods

Herbert Bayer’s ‘Articulated Wall’

continues to serve as a local land-

mark

Fitness center with roof access and

outdoor amenities

Subterranean parking below relocated

Sam’s Club

N

Typical street section with stormwater treatment•

Curb cuts allow stormwater to irrigate street trees before discharg-•

ing into the Platt River

Continuous growing pits with structural soil increase soil volume •

available to street trees, increasing biomass and shade

Layering of modules carves various flexible green spaces and mir-•

cohabitats for people, plants, and animals

Highest building roofs •

provideover400,000

square feet of space for

photo-voltaic energy

production

Mimicking prairie eco-•

systems provides rich

experiences for education,

recreation, and regional

place making

Passive stormwater harvest for irrigation and filtration•

2185

SUSTAINABILITY MODEL

GOALS

OBJECTIVES

ACTIONS

Social

To foster a responsive and interdependent network of communities

To create healthy, balanced human living

To build social capital and nurture people and neighborhoods

Higher density and optimal, mixed land use

Universal housing and services for families, seniors and youth

Build a sense of community and identity

Addition of approximately 2,000 adaptable, living units; accommodation of at least 4,000 new inhabitants

Modular, flexible units that accommodate all life stages, i.e. family-friendly and seniors

Cultural and recreational activities including various educational and stewardship programs

On-site community centers, child and daycare services for families with young children, medical facilities and assisted living adaptability

Environmental

To create greater interaction with the existing natural habitat

To enhance overall connectivity and mobility

To build food systems security and efficient use of natural resources

Promote outdoor recreation and activism

Promote alternative forms of renewable energy and sustainable transportation

Access to a variety of local, nutritional and energy resources

Creation of over 32 acres of green space including parks/multi-use trail networks

Transit village with facilities for cyclists, i.e. showers; hybrid parking, recycling centers, access to wi-fi

Approximately 400,000 sq.ft. of solar paneling; rainwater collection system, pervious surface materials

LEED-certified buildings, transit-oriented development, green/walkable trails

Urban gardens, organic supermarkets and restaurants, local farmers’ market

Economic

To ensure sustained, economic vitality and responsibility

To foster resilient local and regional economic growth

Integration into the national and global economy

Create tangible, economic benefits for the community

Access for lower-income families and minorities in Southern Denver

Promote public-private partnerships, new technologies and access to information

Balanced blend of big box, smaller, boutique retail and office space

Additional 500,000 sq. ft. of commercial space, creating hundreds of new jobs in the community; employee benefits

Increased revenue and tax base with expanded commercial andresidential space.

Community banks/credit unions and local financing options; 25% affordable housing; 60% rental units

Local government, community and business alliances; R&D

2185

-

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000

I II III IV V VICommunity 66,960 - - - - 36,573 Retail (Engineered Tilt-up or Modified Modular) 170,000 46,436 49,668 66,698 74,200 36,625 Retail (Modular) 188,716 85,374 91,316 122,626 136,420 67,335 Office - 9,291 61,131 83,002 92,420 -Residential (Below Market For-Sale) 9,320 9,512 7,477 5,486 5,823 10,872 Residential (Below Market Rental) 83,877 85,611 67,297 49,377 52,405 97,852 Residential (Market For Sale) 223,673 228,295 179,460 131,673 139,747 260,938 Residential (Market Rental) 149,115 152,196 119,640 87,782 93,165 173,958

Squa

re Fee

t

Uses by PhasePhasing Plan

P1

P1P1

P2

P3

P4P5

P6

2185

ical

2009 ULI Hines Student Urban Design Competition Team Summary Board

1. Summary Pro Forma Team 2185Year 0 Phase 2 Phase 3 Phase 4 Phase 5 Phase 6

2009-10 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Net Operating (Sales) Income Rental Housing -$ 650,227$ 1,341,279$ 2,512,953$ 3,507,634$ 4,310,746$ 5,204,622$ 6,828,846$ 8,400,224$ 8,663,717$ 8,935,444$ 9,215,661$

For-Sale Housing -$ -$ 48,956,223$ 51,466,878$ 41,671,169$ 31,492,238$ 34,426,014$ 66,209,074$ -$ -$ -$ -$ Rental Housing -$ 1,226,001$ 2,500,157$ 3,525,667$ 4,301,640$ 5,138,996$ 6,689,995$ 6,757,613$ 6,827,155$ 6,898,676$ 6,972,233$ 7,047,882$

For-Sale Housing -$ 973,480$ 92,265$ 1,140,636$ 1,033,050$ 898,647$ 1,010,685$ 1,707,582$ 480,061$ 480,061$ 480,061$ 480,061$ -$ -$ -$ 92,260$ 720,275$ 1,616,295$ 2,667,622$ 3,434,563$ 3,537,600$ 3,643,728$ 3,753,040$ 3,753,040$ -$ 1,432,844$ 1,412,997$ 1,773,573$ 2,149,214$ 2,648,499$ 3,190,578$ 3,564,372$ 3,524,218$ 3,483,974$ 3,443,640$ 3,411,553$ -$ 1,930,535$ 2,899,067$ 3,994,411$ 5,511,385$ 7,282,445$ 8,328,261$ 8,594,126$ 8,865,416$ 9,142,228$ 9,424,665$ 9,363,186$ -$ 344,746$ 352,036$ 359,453$ 436,681$ 516,952$ 600,342$ 612,798$ 625,461$ 638,332$ 651,412$ 664,702$ -$ 1,726,391$ 1,762,896$ 1,800,037$ 3,675,641$ 5,628,752$ 7,661,332$ 7,820,285$ 7,981,881$ 8,146,134$ 8,313,059$ 8,482,668$

14,133,708$ 5,506,204$ 5,506,204$ 5,506,204$ 3,313,184$ 2,764,384$ 2,215,584$ -$ -$ -$ -$ -$ -$ 130,814$ 181,684$ 244,006$ 340,250$ 433,841$ 527,381$ 586,158$ 600,000$ 600,000$ 600,000$ 600,000$

14,133,708$ 13,921,241$ 65,004,807$ 72,416,078$ 66,660,122$ 62,731,796$ 72,522,416$ 106,115,418$ 40,842,015$ 41,696,851$ 42,573,554$ 43,018,753$

Development Costs (Including Land & Construction Interest Expense)

Rental Housing -$ 21,721,529$ -$ 23,407,811$ 18,911,359$ 14,262,898$ 15,562,160$ 29,877,197$ -$ -$ -$ -$ For-Sale Housing -$ 111,880$ 35,682,660$ 37,458,832$ 30,191,783$ 22,716,015$ 24,725,139$ 47,352,157$ -$ -$ -$ -$

Rental Housing -$ 12,186,314$ -$ 13,062,459$ 10,524,716$ 7,916,034$ 8,613,330$ 16,490,427$ -$ -$ -$ -$ For-Sale Housing -$ 1,354,035$ -$ 1,451,384$ 1,169,413$ 879,559$ 957,037$ 1,832,270$ -$ -$ -$ -$

-$ -$ -$ 1,471,049$ 9,922,435$ 13,812,990$ 15,770,911$ -$ -$ -$ -$ -$ -$ 25,620,321$ -$ 7,352,226$ 8,061,806$ 11,099,683$ 12,661,821$ 6,409,185$ -$ -$ -$ -$ -$ 27,418,056$ -$ 13,026,383$ 14,281,048$ 19,659,052$ 22,421,980$ 11,347,701$ -$ -$ -$ -$ -$ 40,457,678$ -$ -$ 8,240,695$ 8,438,268$ 8,641,769$ -$ -$ -$ -$ -$ -$ 18,791,870$ -$ -$ 19,920,560$ 20,319,586$ 20,730,582$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 20,018,890$ -$ 8,777,869$ 13,194,077$ 13,146,803$ 14,280,522$ 10,959,903$ -$ -$ -$ -$

Community -$ 8,951,812$ -$ -$ -$ -$ -$ 5,519,394$ -$ -$ -$ -$ -$ 176,632,385$ 35,682,660$ 106,008,012$ 134,417,892$ 132,250,886$ 144,365,250$ 129,788,232$ -$ -$ -$ -$

Land Value -$ 32,395,345$ 5,712,368$ 15,750,253$ 22,984,773$ 22,235,359$ 23,449,353$ 17,472,549$ -$ -$ -$ -$ % of Development Cost 18.34% 16.01% 14.86% 17.10% 16.81% 16.24% 13.46%

Development Cost (excl. Land) -$ 144,237,040$ 29,970,292$ 90,257,759$ 111,433,118$ 110,015,528$ 120,915,897$ 112,315,684$ -$ -$ -$ -$

Annual Cash Flow32,820,732$ 13,921,241$ 65,004,807$ 72,416,078$ 66,660,122$ 62,731,796$ 72,522,416$ 106,115,418$ 40,842,015$ 41,696,851$ 42,573,554$ 43,018,753$

Total Property Taxes -$ 1,968,979$ 2,574,817$ 3,319,858$ 5,139,091$ 7,295,518$ 9,523,646$ 10,688,548$ 10,976,505$ 11,470,472$ 11,984,048$ 12,355,223$ Total Asset Value (Terminal Value) 495,445,086$

24,772,254$ Net Sale Price 470,672,832$

-$ 176,632,385$ 35,682,660$ 106,008,012$ 134,417,892$ 132,250,886$ 144,365,250$ 129,788,232$ -$ -$ -$ -$ Net Cash Flow $32,820,732 ($162,711,144) $29,322,147 ($33,591,935) ($67,757,770) ($69,519,090) ($71,842,833) ($23,672,815) $40,842,015 $41,696,851 $513,246,386

New Debt (repayment) 55,364,044$ 20,434,137$ 27,662,382$ 47,783,289$ 51,969,295$ 55,470,568$ 26,776,600$ -$ -$ ($285,460,315)Cash Flow Before Debt Service $32,820,732 ($107,347,100) $49,756,284 ($5,929,552) ($19,974,481) ($17,549,795) ($16,372,266) $3,103,785 $40,842,015 $41,696,851 $227,786,071

Debt Service (permanent financing) -$ 3,321,843$ 4,547,891$ 6,207,634$ 9,074,631$ 12,192,789$ 15,521,023$ 17,127,619$ 17,127,619$ 17,127,619$ Cash Flow After Financing $32,820,732 ($107,347,100) $46,434,441 ($10,477,443) ($26,182,115) ($26,624,427) ($28,565,055) ($12,417,238) $23,714,397 $24,569,232 $210,658,452

Net Present Value $11,526,173

Loan to Value Ratio (LVR) 60%

Leveraged IRR Before Taxes 12.21%

Year-by-Year Cumulative AbsorptionTotal Buildout 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021

Project Buildout by Development UnitsRental Housing (units) 71 142 258 349 416 487 620 739 739 739 739

For-Sale Housing (units) - 128 258 361 436 516 665 665 665 665 665Rental Housing (units) 93 188 263 318 376 485 485 485 485 485 485

For-Sale Housing (units) 9 9 19 26 32 38 48 48 48 48 48(s.f.) - - 7,433 56,338 122,739 196,675 245,844 245,844 245,844 245,844 245,844 (s.f.) 358,716 444,090 581,842 754,136 957,254 1,098,789 1,135,414 1,135,414 1,135,414 1,135,414 1,135,414

(rooms) - - - - - - - - - - - (spaces) 1,960 1,960 1,960 3,057 4,153 5,249 5,249 5,249 5,249 5,249 5,249 (spaces) - - - - - - - - - - -

(s.f.) 66,960 66,960 66,960 66,960 66,960 66,960 103,533 103,533 103,533 103,533 103,533 Project Buildout by Area 22% 30% 41% 57% 72% 88% 98% 100% 100% 100% 100%

Rental Housing (s.f.) 74,558 149,115 270,872 366,584 436,810 511,342 650,508 775,857 775,857 775,857 775,857 For-Sale Housing (s.f.) - 223,673 451,968 631,427 763,100 902,847 1,163,785 1,163,785 1,163,785 1,163,785 1,163,785

Rental Housing (s.f.) 75,490 152,539 213,107 257,546 304,711 392,777 392,777 392,777 392,777 392,777 392,777 For-Sale Housing (s.f.) 8,388 8,388 16,949 23,679 28,616 33,857 43,642 43,642 43,642 43,642 43,642

(s.f.) - - 7,433 56,338 122,739 196,675 245,844 245,844 245,844 245,844 245,844 (s.f.) 358,716 444,090 581,842 754,136 957,254 1,098,789 1,135,414 1,135,414 1,135,414 1,135,414 1,135,414 (s.f.) - - - - - - - - - - - (s.f.) 600,480 600,480 600,480 924,480 1,248,480 1,572,480 1,572,480 1,572,480 1,572,480 1,572,480 1,572,480 (s.f.) - - - - - - - - - - - (s.f.) 66,960 66,960 66,960 66,960 66,960 66,960 103,533 103,533 103,533 103,533 103,533 (s.f.) 1,184,591 1,645,245 2,209,610 3,081,150 3,928,670 4,775,728 5,307,984 5,433,332 5,433,332 5,433,332 5,433,332

Rental Housing 167,467$ ($ per unit)For-Sale Housing 298,094$ ($ per unit)

Rental Housing 141,868$ ($ per unit)For-Sale Housing 157,631$ ($ per unit)

167$ ($ per s.f.)158$ ($ per s.f.)

27,726 ($ per space)

140$ ($ per s.f.)Total Development Costs

Infrastructure CostsRoadsUtilities

Other Hardscaping (not incl. surf. pkg.)Landscaping

Other AmenitiesTotal Infrastructure CostsTotal Development Costs 859,145,318$

Operating Income

285,460,315$

Total Equity

Total DebtTotal

282,518,123$ 132,479,856$

Phase I

68,793,280$

Equity Sources (total)198,238,465$

Unit Cost

573,685,003

3. Unit Development and Infrastructure Costs

40,977,385$

Total Costs123,742,953$

Structured ParkingOther

Total Infrastructure

Total Development Costs

Total Costs of Sale

Total Development Costs

Market-rate

Structured ParkingSurface Parking

Other

Market-rate

Amount

140,000,000$

Market-rate

Affordable

Office/CommercialRetail Tilt & Big Box

Retail ModularUnderground Parking

Retail TiltRetail Modular

Underground Parking

Total Net Operating Income

Market-rate

Affordable

Office/Commercial

Structured ParkingOther - Existing Income

Other - Rental for Alternate Energy

Net Operating Income (Including Taxes)

2. Multiyear Development Program

Structured ParkingSurface Parking

OtherTotal

Development Costs

Market-rate

Affordable

Affordable

Office/CommercialRetailHotel

land contribution by DDDResidential Sales

4. Equity and Financing Sources

7,643,698$

Affordable

Office/CommercialRetailHotel

Office/Commercial

Hotel

Do not include public costs 859,145,318$

-$ 80,378,063$

22,832,126$ 8,562,047$

23,297,748$

Retail

OtherSurface Parking

Structured Parking

TIF 18,687,024$

Total Financed Construction Cost* 719,145,318$

-$ -$ 145,541,008$ Financing Sources (total)

Retired Construction * (719,145,318)$ 14,471,206$

borrowing, not total outstanding debt.

(*TIF Financing used for public infrastructure)

179,359,259$

-$

*Revolving Facility. $719 million represents total

Private778,767,255$ 285,460,315$ Total Mortagages (at Phase Stabilization)

Public25,686,142$

Prairie Vert

0

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2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Households and IncomeHouseholdsHousehold Income

Source: US Census Bureau

Projected

Households and Incomeare steadily increasing;;more housing demand.

$-

$200,000,000.00

$400,000,000.00

$600,000,000.00

$800,000,000.00

$1,000,000,000.00

$1,200,000,000.00

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Denver Retail SpendingRetail SpendingProjected

Mild growth throughthe recession will leadto normal growth ratesin spending. Despitethe recession,Denver realized 4.9%growth in 3Q08. Retailsupply pipeline is "empty."

Source: US CensusBureau, Grubb & Ellis

0

500000

1000000

1500000

2000000

2500000

3000000

3500000

500070009000

11000130001500017000190002100023000

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Total Residential Permits (Units) Issued vs. Population

Total Permits (Units) Issued

Estimated Population

Projected

Strong drop in supply asdemand is predicted to steadily increase through 2020.

Source: US Census Bureau

0

10000

20000

30000

40000

50000

60000

500000

550000

600000

650000

700000

750000

2000

2001

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2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Households and IncomeHouseholdsHousehold Income

Source: US Census Bureau

Projected

Households and Incomeare steadily increasing;;more housing demand.

$-

$200,000,000.00

$400,000,000.00

$600,000,000.00

$800,000,000.00

$1,000,000,000.00

$1,200,000,000.00

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Denver Retail SpendingRetail SpendingProjected

Mild growth throughthe recession will leadto normal growth ratesin spending. Despitethe recession,Denver realized 4.9%growth in 3Q08. Retailsupply pipeline is "empty."

Source: US CensusBureau, Grubb & Ellis

0

500000

1000000

1500000

2000000

2500000

3000000

3500000

500070009000

11000130001500017000190002100023000

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Total Residential Permits (Units) Issued vs. Population

Total Permits (Units) Issued

Estimated Population

Projected

Strong drop in supply asdemand is predicted to steadily increase through 2020.

Source: US Census Bureau

2050 Build Out

Cherokee Denver, LLC redevelopmentDenver Design District Phase One

Green spaceCentral/CVP transit corridorPrimary roadwaySecondary roadwayRail stationHerbert Bayer sculpture

2050 Build Out

Cherokee Denver, LLC redevelopmentDenver Design District Phase One

Green spaceCentral/CVP transit corridorPrimary roadwaySecondary roadwayRail stationHerbert Bayer sculpture

2185

ical

Prairie Vert2050 and Beyond

Pressure from the DDD

Pressure from existing neighborhoods

Continuation of existing grid

River front access

Pres

sure

from

exi

stin

g ne

ighb

orho

ods

Unified green network

Continuation of existing grid

Increased density

Increased density

By 2050, existing • pressures from surrounding areas will transform inconsistent,

incongruent land uses west of the DDD into a continuation of the mixed use

community of Prairie Vert. Flexible elements will easily accomodate new

energy technology and modes of transportation. Educational facilities will bridge

the gap created by the transit corridor. Modular building units allow density to

increase, meeting new social, economic, and environmental demands.