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    0803 LVS Presentation Web

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    UptownUpdate
    The document provides details on community benefits from a proposed development project including renovations to Clarendon Park, new parking facilities, neighborhood growth and job creation. It also addresses specific community concerns about the development related to traffic, loading areas, tower design and setbacks, streetscapes, density, and the use of tax increment financing (TIF) to fund infrastructure.

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    0803 LVS Presentation Web

    Uploaded by

    UptownUpdate
    116 views28 pages
    The document provides details on community benefits from a proposed development project including renovations to Clarendon Park, new parking facilities, neighborhood growth and job creation. It also addresses specific community concerns about the development related to traffic, loading areas, tower design and setbacks, streetscapes, density, and the use of tax increment financing (TIF) to fund infrastructure.

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    The document provides details on community benefits from a proposed development project including renovations to Clarendon Park, new parking facilities, neighborhood growth and job creation. It also addresses specific community concerns about the development related to traffic, loading areas, tower design and setbacks, streetscapes, density, and the use of tax increment financing (TIF) to fund infrastructure.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    116 views28 pages

    0803 LVS Presentation Web

    Uploaded by

    UptownUpdate
    The document provides details on community benefits from a proposed development project including renovations to Clarendon Park, new parking facilities, neighborhood growth and job creation. It also addresses specific community concerns about the development related to traffic, loading areas, tower design and setbacks, streetscapes, density, and the use of tax increment financing (TIF) to fund infrastructure.

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    Attribution Non-Commercial (BY-NC)
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    of 28

    CommunityPresentation June7th,2011

    CommunityBenefits
    ClarendonParkImprovements ParkingImprovements NeighborhoodGrowth JobCreation OtherGeneralCommunityBenefits

    CommunityBenefits
    ClarendonParkImprovements
    Projectwillprovide$6Mtorevitalizeandrenovate ClarendonParkduringdevelopment Fullrenovation/ClarendonParkFieldHouse Indoorbasketballcourt PerformingArts/recreationspace Fitnesscenter Activityrooms Improvedparkdistrictprograms

    CommunityBenefits
    ClarendonParkImprovements
    Newandimprovedregrading/surfacingofoutdoor playingfields Additionoflightingfornightgames Tenniscourt(s) TrackandFieldarea

    CommunityBenefits
    ParkingImprovements
    Newparkingfacilitywithaminimumof125parking spaces,availableforcommunityuseforFREE overnightparking Untilthedevelopmentoftheparceloflandonthe northsideofAgatite,theoriginalparkinglotwill continuetobeavailableforcommunityparking

    CommunityBenefits
    NeighborhoodGrowth
    Isexpectedtogenerateapproximately$350,000 $450,000inannualCitysalestaxandutilitytax revenue Increasedfoottrafficandresidentstocreate Improvedsafetyinthe23rdDistrict Willstimulateprivateinvestment Willencourageproductiveuseofunderutilizedand vacantNONTAXEDproperty

    CommunityBenefits
    JobCreation
    Thedevelopmentwillcreateapproximately1,500full timeconstructionjobs Uponcompletion,willprovideforapproximately140 fulltimeretailpositions Willencouragefurtherneighborhooddevelopment which,inturn,willcreatemorepotentialjob opportunitiesforcommunitymembers

    CommunityBenefits
    OtherCommunityBenefits
    Plannednewfullsizegrocerystore Newfullsizehealthclubplanned Newrestaurantsandotherentertainmentandretail opportunities Plansforigo carsharing/ZipCarorothershortterm carrental Plansforelectriccarportsandhookups Grandandarchitecturallysignificantgateway developmentNewandimprovedstreetlandscaping atprojectperimeter Streetandtrafficlightimprovementsfundedby developer

    ProgramOverview
    TotalProjectCostofapproximately$350millionforall Phases PhaseI:NWCMontroseandClarendon:Main DevelopmentSite 120,000sq.ft.retail AnchorTenants:FullSizeGrocer&FullService HealthClub ParkingtosupportRetail 125Freeovernightspacesforcommunity PhaseII:NECMontroseandClarendon:Eastern DevelopmentSite 150luxuryresidentialunits BuildingHeight:230 20,000sq.ft.retailspace Parking

    ProgramOverview
    PhaseIII:NWCMontroseandClarendon:Main DevelopmentSite 248residentialunits BuildingHeight:407 Parking PhaseIV:NWCMontroseandClarendon:Main DevelopmentSite 402Residentialandhotelunits BuildingHeight:498 Parking PhaseV:NWCofClarendonandAgatite:Northern Developmentsite 100residentialunits BuildingHeight:140 Parking

    ProgramOverview

    SpecificCommunityConcerns Addressed
    Traffic Loading TowerDesign Setbacks Agatite Streetscape Density

    SpecificCommunityConcerns Addressed
    Traffic
    ProfessionalStudyConductedinAccordancewithCDOT standardsandspecificdirection Studyareaandtimeperiodsweredeterminedbasedon directionfromCDOT StudyAreaincludes11intersections Analyzedweekdaymorning,eveningandSaturdaymidday peakhoursinlateJuneonclearandsunnydays StudycontemplatedexistingtrafficwithWilsonYardand futureconditions Studywasconductedwithouroldhigherdensityplan Studyshowedthatexistinglevelsofservicewasgenerally maintained

    SpecificCommunityConcerns Addressed
    TrafficStudyArea
    1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. MarineDr/LSDSBRampandMontrose ClarendonandMontrose HazelandMontrose SheridanandMontrose BroadwayandMontrose SheridanandBroadway SheridanandWilson ClarendonandWilson BuenaandClarendon Agatite andClarendon SunnysideandClarendon

    SpecificCommunityConcerns Addressed
    PlannedTrafficImprovements
    IntersectionatClarendonandMontrose Stripeleftturnlaneswith50 ofstorageatallfour intersections Signalwillbemodifiedtoinclude protected/permissiveleftturnphasing ClarendonAvenuewillbeprovidedwithacenter turnlaneforleftturnsintothedevelopment MarineDrive/LSDonrampatMontrose ModifySignaltimings Extendwestboundleftturnlaneviastriping Createeastboundrightturnlane

    SpecificCommunityConcerns Addressed
    Loading
    Alley no longer connects to Agatite Cars/Delivery trucks no longer exit onto Agatite Western Alley widened to 30+ to accommodate loading and access to existing garages
    CurrentAlleyisofficially16 wide Originalplanincreasedthewidthto20 wide Currentplanincreasesthewidthto30 plusatmostareas

    Loading

    SpecificCommunityConcerns Addressed
    TowerDesignandSetbacks
    Tower along Agatite shortened in length from 154 to 134 Tower along Agatite reduced so it does not extend in front of existing residential buildings Setbacks increased at the project perimeter
    Thetowershavebeendesignedwithupperlevelsetbackssotheyare narrowerastheyaretallerinheight SetbackonMontroseincreasedtoprovideawidersidewalk Setbackalongwesternpropertylineincreased

    TowerDesign

    SpecificCommunityConcerns Addressed
    Agatite Streetscape
    ThebaseofthebuildingalongAgatite oppositetheexisting residentialbuildingshasbeenredesignedtoalignwith adjacentcorniceheights Originaldesignallowedfor85 maxheightalongAgatite Originaldesignhada55 corniceheightforresidentialunits alongwesternportionofAgatite Now:Wehavereducedtheheightto38 forretailusealong thewesternportionofAgatite withtiereddesign TheAgatite facadetransitionsfromcommercialtoresidential designelementsandmassing

    Agatite Streetscape

    Agatite Streetscape

    SpecificCommunityConcerns Addressed
    Density
    Theoverallsizeofthedevelopmenthasbeen reducedsignificantlyfromtheoriginaldesign Originalplans:1,454,825sq.ft.(Per5.0FAR) OriginalPDsubmission:1,398,680sq.ft. Currentdesign:1,000,000sq.ft. Netreductionofapproximately454,825sq.ft. Unitcountreducedby150 PDSubmission:850residentialunits,200hotelunits CurrentDesign:700residentialunits,200hotelunits

    SpecificCommunityConcerns Addressed TIF


    TIF
    Theprojectarea,excepttheEasternsite,wasformerly partoftheWilsonYardTIF ThenewTIFdistrictislimitedtothethreeprivate developmentparcelsandtheClarendonParksitearea. Theexistingusesarecurrentlytaxexempt,planned improvementswillgeneratetaxrevenue TheTIFappliedforisapayasyougoTIF Thedeveloperisresponsibleforfinancingthe construction TIFispaidafterconstructioncompletion TheonlyTIFfundsavailablearefromcompleted phases.

    SpecificCommunityConcerns Addressed TIF


    TheDeveloperistakingtheentireriskoffinancingthe TIFpaymentsandtheCityhasnofinancialliability.It onlyhasanobligationtopaywhatisgeneratedonly totheextentitisgenerated. ThetotalTIFamountthatisbeingrequestedis approximately$50millionwhichis15%oftotal projectcostsof$350million.

    SpecificCommunityConcerns Addressed
    TIF PhasebyPhaseTIFAllocations
    PhaseI Approx.$9millionrepresenting13%ofestimated PhaseIprojectcosts PhaseII Approx.$8millionrepresenting17%ofestimated PhaseIIprojectcosts PhaseIII Approx.$7millionrepresenting11%ofestimated PhaseIIIprojectcosts PhaseIV Approx.$24millionrepresenting22%ofestimated PhaseIVprojectcosts PhaseV Approx.$2millionrepresenting6%ofestimatedPhase Vprojectcosts

    AdditionalStreetViews

    ClosingRemarks

    www.connectingclarendonpark.com

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