Perimeter CIDs Public-Private Partnerships That Improve The Market PCIDs Standard Template; Updated: Oct 03, 2013
What is a CID? CIDs in Georgia are created by the state legislature and adopted by local governments. They are quasi-governmental and self-taxing for purposes of infrastructure and other improvements in a defined geographic area. ONLY commercial property owners pay the additional tax millage, not residents. PCIDs work cross- jurisdictionally with governmental partners: • Brookhaven • Dunwoody • Sandy Springs, • DeKalb County • Fulton County • State and Federal Agencies 2
Board of Directors John Heagy, Chair Diane Calloway, Acting Chair Central (DeKalb) Fulton Specialized Title Services, Inc. Hines Kay Younglove, Vice Chair William Baker Steve Slifer, Secretary Anne Lofye Jones Lang LaSalle General Growth Properties United Parcel Service Cox Communications Dean Patterson, Treasurer Alex Chambers Dean Patterson, Treasurer Don Mabry Fairlead Commercial Real KDC Real Estate Development Fairlead Commercial Real Simpson Housing Estate & Investments Estate Kris Miller David Canaday, Secretary Peter Dunn John Bell Ackerman & Company Rubenstein Partners Le Meridien Hotel Regent Partners Bob Voyles, Immediate Past Michael Grover Pat Chesser Chair Cox Communications South City Partners Seven Oaks Company John Lundeen Tad Leithead Coro Realty Advisors Tad Leithead Advisors
PCIDs’ Goal To Create a Thriving, Connected Live, Work and Play Center That is Attractive to Companies Considering Relocation and to Companies Currently in the Market
EVOLUTION OF Livable Center THE MARKET Sustainable Placemaking Congested Office District 1990s Suburbs/ Perimeter Mall early 1970s THEN I-285 Opened 1969 & NOW Farm Land 1960s 5
PERIMETER TODAY: CONNECTED Central Perimeter • Offers residents and visitors Submarket (blue) connectivity and choice . • Access to amenities like transit, shopping, dining and much more make the market an attractive choice for small businesses and M Fortune 500 companies. • Pedestrian & Bike friendly • Walkable access to 3 MARTA stations. • 12 business-funded free shuttles and 13 hotel shuttles to and from PCIDs MARTA stations. Boundary 6
PERIMETER SUBMARKET STATISTICS • 33 million-square feet of office space ( total square footage comprises all office, office condominium, office loft, office medical, all classes and all sizes and both multi-tenant and single- tenant buildings including owner-occupied buildings ) • 85% of market space occupied • 10,458 companies • 134,650+ employees • $5.1 billion commercial real estate value Source: Balmoral Group 2015 7
PERIMETER: THE LOCATION OF CHOICE Both small businesses and Fortune 500 Companies call Perimeter home. Companies moving, expanding or renewing in the Central Perimeter market over the last few years include: • Air Watch • First Data Corp. • Northside Hospital • Arby’s • Focus Brands • Oldcastle • AutoTrader.com • Hewlett Packard • State Farm • Children’s Healthcare • IBM • T-Mobile • Cox Enterprises • IHG • UPS • Crawford & Company • Mercedes Benz USA • Verizon Wireless • Emory St. Joseph’s Hospital • Newell Rubbermaid And many more! Sources: Balmoral Group 2015 8
17 Year History of Leverage $41.7 M 914.8 M $41.7 million = CID funds $914.8 million = other resources for transportation infrastructure projects A Leverage of 22 to 1 9
Infrastructure Quality of Life Investor Improvements Programs & Projects Services • • Perimeter Connects Perimeter Park @ Dunwoody MARTA • I-285 at 400 Improvements o Shuttles • Commuter Trails • GA 400 CD Lane System o Vanpools • o MARTA/GRTA passes Shuttles • Perimeter Traffic Operations o Alternate work schedules • Circulator • Program Perimeter Business Alliance • o Research GA 400 Trail • Lake Hearn @Peachtree o Networking • Bicycle Strategy Dunwoody Road o Residential Component • • Investor Relations/Support MARTA Station Master Plan • Hammond Mid-Block • Government Relations • • Median Maintenance PCIDs Special Zoning
Improvements include: What You Can Expect: The project will provide enhancements to these • First major improvement will be the Mt. Vernon roadways that improve safety and facilitate better bridge traffic flow to accommodate the high volume of • Access to all properties will be open during travelers passing through it each day. Those construction improvements include: • • Contractors are required to keep local roads open to About four miles of improvements beginning traffic by constructing the work in stages. It is likely one mile west of Roswell Road and ending that most of the work will be done at night 9:00pm – just east of Ashford Dunwoody Road on I-285 5:00am and during off-peak hours. • Roughly five miles of improvements from just • Access to GA 400 and I-285, at all interchanges, will south of the Glenridge Connector north to the be open at peak commute times during construction Spalding Drive area on SR 400 • • The contractor will be restricted from lane closures Construction of barrier separated collector on holidays and special events distributor lanes along I-285 and SR 400 to help reduce weaving, merging and accelerating/decelerating conflict • Reconstruction of the Abernathy Road interchange • Replacement of the bridge at Mt. Vernon Highway • Reconstruction of existing ramps and bridges in the interchange area For updates visit • New flyover bridges 285at400.org
PARTNERSHIPS THAT WORK 13
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