600 N. Andre ws Ave nue AN AF F ORDABL E L I VE / WORK - PowerPoint PPT Presentation

600 N. Andre ws Ave nue AN AF F ORDABL E L I VE / WORK COMMUNI T Y

OUR T E AM BROWARD COUNT Y BOARD OF COUNT Y COMMISSIONE RS Mr . Willia m Sc hne ide r E xe c utive Dir e c tor T ur nstone De v. Ms. Hope Gar y Chie f E xe c utive Offic e r F L CC RAM Gr yc on- Bur ling Builde r s Br oa d a nd Ca sse l L oc hr ie & Cha ka s F lynn E ng ine e r ing Se r vic e s Ar c hite c tur a l Se r vic e s F ina nc ia l Consulta nt Ge ne ra l Contra c tor Pr ope r ty Ma na g e me nt L e g a l Counse l Zoning / L a nd Use Unite d Ar c hite c tur a l Se r vic e s L ig hte ng a le Gr oup Pie ka r z Assoc ia te s Dr a pe r & Kr a me r L a ur a L le r e na & Assoc ia te s Rubin Br own

OUR T E AM T URNST ONE DE VE L OPME NT F ORT L AUDE RDAL E COMMUNI T Y CE NT E R � Almo st 2 de c a de s o f a ffo rda b le � Pro ve n re c o rd o f c o nse nsus a nd ho using de ve lo pme nt suc c e ss c o mmunity b uilding a s a me mb e r o f the F o rt L a ude rda le c o mmunity � F o c use d pe rso na l a tte ntio n o n yo ur o rg a niza tio n a nd pro je c t Hig hly re spe c te d a nd suc c e ssful � mino rity jo b tra ining a nd pla c e me nt � F le xib le , le a n pro je c t o rg a niza tio na l struc ture a llo ws fo r q uic k de c isio ns � Stro ng c o mmunity a dvo c a te � Ac c o unta b le to yo u We b ring a n e xc e ptio na l te a m o f c o ntra c to rs, a rc hite c ts, la nd use pla nne rs a nd le g a l c o unse l to e nsure a first c la ss a ffo rda b le de ve lo pme nt tha t fits with the c o mmunity a nd its ne e ds.

A B De ve lo pme nt Site Pic ture d - (A) 615 N. Andre ws Ave nue (De ve lo pe d b y T urnsto ne De ve lo pme nt) (B) 600 N. Andre ws Ave nue (Pro po se d de ve lo pme nt site fo r T urnsto ne De ve lo pme nt)

YOUR GOAL S � De ve lo p a n a ffo rda b le pro je c t tha t me e ts the ne e ds o f the c o mmunity. � Affo rda b le to ho use ho lds a t o r b e lo w 120% o f Are a Me dia n I nc o me . � Bring multiple use s tha t c o mplime nt ne ig hb o rho o d. � Se a mle ssly c o nne c t the pro je c t to the c o mmunity thro ug h de sig n, de nsity, d ive rsity a nd lo c a l pa rtic ipa tio n.

PROJE CT F I NANCI NG Sources: 150 a ffo rda b le ho using units � First Mortgage 25,450,000 2 – 530 sq ua re fo o t studio a pa rtme nts. Re nt = $1,475 � CRA Loans / Grants 5,000,000 Deferred Developer Fee 2,050,000 � 122 – 720 sq ua re fo o t o ne b e dro o m a pa rtme nts. Equity 14,959,518 Re nt = $1,581 47,459,518 24 – 1,028 sq ua re fo o t two b e dro o m a pa rtme nts. � Uses: Re nt = $1,895 Capitalized lease payment 350,000 2 – 1,150 sq ua re fo o t thre e b e dro o m a pa rtme nts. � Construction & Sitework 37,150,000 Re nt = $2,159 Construction Period Interest 473,461 Professional Fees 2,229,163 Marketing and Leasing 202,500 Lender Fees 1,004,095 Developer Fees 4,150,000 Interest Costs 1,900,299 47,459,518

L E ASE T E RMS Pro po sa l o f a 99-ye a r la nd le a se with the Co unty so the de ve lo pme nt q ua lifie s fo r � F HA HUD fina nc ing � Upfro nt c a pita lize d le a se pa yme nt o f $350,000 � Annua l le a se with Co unty = $100,000 pe r ye a r + 50% o f pro je c t c a sh flo w. Ye a r 1 e stima te d to ta l $120,144 � � Ye a r 2 e stima te d to ta l $135,185 � Ye a r 3 e stima te d to ta l $170,427 Ye a r 4 e stima te d to ta l $195,866 � � Ye a r 5 e stima te d to ta l $201,509

600 N. ANDRE WS OUR VI SI ON E ye c a tc hing b uilding Attra c tive urb a n stre e tsc a pe Multi use live / wo rk b uilding Co mmunity pa rtne rship Susta ina b ly de sig ne d/ b uilt T ra nsit o rie nte d Co mmunity g a te wa y 615 N. Andre ws Ave nue - Wisdo m Villa g e F o rt L a ude rda le T urnsto ne De ve lo pme nt Co rpo ra tio n

OUR VI SI ON DE L I VE RS � 150 a ffo rda b le ho using units to ho use ho lds e a rning up to 120% o f Are a Me dia n I nc o me , � Building de nsity tha t fits with the ne ig hb o rho o d, � Unit size s tha t a re truly liva b le a nd pro vide a mple spa c e fo r a va rie ty live / wo rk a rra ng e me nts, � 20 a dditio na l c o mmute r pa rk a nd ride spa c e s lo c a te d o n the pro po se d Wa ve lig ht ra il line , � 2,195 sq . ft. o f re ta il/ c o mme rc ia l spa c e s fo r c o mmunity- b a se d b usine sse s, � Co mmunity re le va nt de sig n b ridg ing the F la g e r Arts a nd T e c hno lo g y Distric t a nd the Sistrunk Pla nning Co rrido r, � Susta ina b le b uilding b uilt to the F lo rida Gre e n Building Co de , a nd � L o c a l hiring , pro je c t pa rtic ipa tio n a nd ma rke ting drive n b y F o rt L a ude rda le Co mmunity Ce nte r.

600 N. ANDRE WS AVE NUE Co nc re te c o nstruc tio n Po st-te nsio ne d flo o r syste ms Aluminum fra me d windo ws a nd do o rs Impa c t re sista nt g la ss Hig h e ffic ie nc y me c ha nic a ls Gre e n Ro o f E ne rg y Sta r a pplia nc e s L o w-flo w wa te r fixture s Co lla b o ra tive a ppro a c h o f de sig n with City a nd Co unty input

NUE WS AVE 600 N. ANDRE E AT OOR PL L F YPICAL T

BUI L DI NG F E AT URE S/ AME NI T I E S � 150 ho using units: 2 studio , 122 o ne -b e dro o m, 24 two -b e dro o m, a nd 2 thre e -b e dro o m units (c a n mo dify unit mix thro ug h ma rke t study/ Co unty g o a ls), � L a rg e r unit size s tha t c a n a c c o mmo da te a va rie ty o f live / wo rk a rra ng e me nts, � 170 pa rking spa c e s, inc luding 20 pa rk a nd ride spa c e s with se pa ra te de sig na te d e ntra nc e / e xit, � Susta ina b le pro je c t F lo rida Gre e n Building Co de a nd will fe a ture a g re e n ro o f, lo w flo w wa te r fixture s, e ne rg y sta r a pplia nc e s a nd hig h e ffic ie nc y me c ha nic a l syste ms, � T ra nsit o rie nte d de ve lo pme nt o n pro po se d Wa ve lig ht ra il line , 12 b ic yc le pa rking spa c e s, 20 pa rk a nd ride spa c e s � Uniq ue urb a n de sig n a nd we lc o ming stre e tsc a pe inc luding te na nt a me nitie s a nd g ro und flo o r c o mme rc ia l spa c e to e nlive n stre e tsc a pe a t 6 th a nd Andre ws Ave nue s Upsc a le b uilding a me nitie s inc luding swimming po o l, la ndsc a pe d ro o f te rra c e a nd fitne ss � c e nte r

PROJE CT HI GHL I GHT S – UNI T SI ZE / DE NSI T Y Our de sig n fe a ture s la rg e r units tha n o the r pro po se rs. � � T ypic a l o ne b e dro o m unit a ppro xima te ly 700 sq ua re fe e t o f living spa c e . T ypic a l two b e dro o m unit a ppro xima te ly 1,000 sq ua re fe e t. � � L a rg e r unit size s c a n a c c o mmo da te a va rie ty o f live / wo rk a rra ng e me nts. � Building ma ssing de sig ne d to c o mple me nt mo re de nse de ve lo pme nt o n Andre ws Ave nue while no t o ve rwhe lming e xisting sma lle r sc a le de ve lo pme nt e a st o f site .

S T DROOM UNI 1 AND 2 BE CAL YPI T

UNI T MI X AND RE NT AL F E E S � 150 a ffo rda b le ho using units � 2 – 530 sq ua re fo o t studio a pa rtme nts. Re nt = $1,475 � 122 – 720 sq ua re fo o t o ne b e dro o m a pa rtme nts. Re nt = $1,581 24 – 1,028 sq ua re fo o t two b e dro o m a pa rtme nts. Re nt = $1,895 � 2 – 1,150 sq ua re fo o t thre e b e dro o m a pa rtme nts. Re nt = $2,159 � � All units c a n suppo rt a va rie ty o f live / wo rk a rra ng e me nts � All units fe a ture re nts lo we r tha n ne ig hb o rho o d ma rke t ra te

PROJE CT HI GHL I GHT S – SUST AI NABI L I T Y � Utilizing the F lo rida Gre e n Building Co de - a ho listic a ppro a c h to susta ina b ility inc luding b uilding ma te ria ls, c o nstruc tio n pra c tic e s, disa ste r mitig a tio n, la nd use a nd susta ina b le b uilding fe a ture s � E a c h ho using a nd c o mme rc ia l unit a nd a ll c o mmo n spa c e s will fe a ture E ne rg y Sta r Applia nc e s, lo w flo w wa te r fixture s a nd e ne rg y e ffic ie nt lig hting , Building fe a ture s a g re e n ro o f a nd hig h e ffic ie nc y me c ha nic a l syste ms � T e a m ha s e xte nsive e xpe rie nc e in susta ina b ility – c urre nt pro je c t Wisdo m Villa g e F o rt � L a ude rda le (615 N. Andre ws Ave nue ) utilizing F lo rida Gre e n Building Co de � Our pro je c t truly ma ximizing susta ina b ility fe a ture s while ke e ping c o sts lo w

PROJE CT HI GHL I GHT S – COMMUNI T Y COMMI T T ME NT � Pro ve n c o mmitme nt to lo c a l hiring a nd pro mo tio n o f lo c a l b usine sse s. � Building o n o ur suc c e ssful lo c a l hiring a nd b usine ss pro g ra m a t 615 N. Andre ws whe re lo c a l utiliza tio n is 30%. � We c o mmit to e nsuring a t le a st 25% o f pro je c t c o sts a re c o mmitte d to lo c a l b usine sse s a nd lo c a l hiring . � F o rt L a ude rda le Co mmunity Ce nte r – a pilla r in the F o rt L a ude rda le Co mmunity – will le a d o ur d ive rsity, lo c a l utiliza tio n a nd ma rke ting e ffo rts. � T hro ug h o ur stra te g ic pa rtne rship with F o rt L a ude rda le Co mmunity Ce nte r, we c o mmit to hire wo ma n, mino rity a nd ve te ra n o wne d b usine sse s (W/ M/ DBE ).