Redevelopment Projects & Renovations Updated: June 11th, 2015
Diane Higley Jessica Vogt Economic Development/ Event Economic Development/ Event Planning Intern Planning Intern NC State Class of 2015 NC State Class of 2016 Parks, Recreation Tourism Business Administration Sport Management Operations and Supply Chain Mgmt. From Chicago, IL From Syracuse, NY
Introduction Hillsborough Street is a flourishing community Raleigh’s one of the fastest growing cities in America* Continues to attract new businesses and residents The Goal is to show redevelopment changes through numerical data. Figures and Data have been updated from previous presentation. * http://www.forbes.com/pictures/edgl45emig/no-1-raleigh-nc-metropolitan-statistical-area/
Hillsborough Street Business Improvement District Development Projects within the BID
Economic Development Summary Within the BID Total (in Millions) - Completed since Creation of the BID -- - Proposed, Planned, or Under Construction -- - Commercial Upfits since Creation of the BID -- - Public Infrastructure Improvements -- Total
Economic Development Projects within the BID Hillsborough Street Within the BID Symbol - Completed since Creation of the BID # - Proposed, Planned, or Under Construction abc - Public Infrastructure Improvements Phase 1 Phase 2 - BID Outline
Completed Projects inside the BID 5 7 1 2 6 3 4
Completed Projects inside the BID Map Projects Est Cost In Millions Status 1 Nehi Building $2.5 M Completed in 2014 2 2604 Apartments $2.5 M Completed in 2013 3 Valentine Commons $80 M Completed in 2012 4 927. W Morgan $40 M Completed in 2012 5 DoubleTree/Brownstone $5 M Completed in 2012 6 North Hall Renovation $2.4 M Completed in 2011 7 Alexander YMCA $17 M Completed in 2008 Total: $149.4 M
Upcoming Redevelopment Projects inside the BID G C H F D J
Upcoming Redevelopment Projects inside the BID Map Projects Est Cost in Millions Status A Compiegne Park Apartments (2304 Hillsborough St.) $4.5 M Planned* B Meredith Heights (3400 Block of Hillsborough St.) $12 M Planned* C Hillsborough Square Apartments (1912 Hillsborough St.) $8 M Planned* D 1301 Ashe Apartments $5 M Underway E Hillsborough Lofts (2504, 2506, 2508 Hillsborough St.) $16 M Underway F 2811 Hillsborough Apartments $5 M Underway G Aloft Hotel (2100 Hillsborough St.) $25 M Underway H Stanhope Center (2408 Hillsborough St.) $78 M Underway I 105 Friendly Apartments $6 M Underway J Gregg Museum (1903 Hillsborough St.) $9.6 Underway Total: $169.1 M *Planned Proposals have been submitted but ground has not been turned
Commercial Upfits inside the BID
Commercial Upfits inside the BID (Page 1 of 2) Project Size Project Name Estimated Cost Status Small* Freshberry $100,000 Complete David’s Dumplings $100,000 Complete Other (3) $300,000 Medium* Subway (Belltower) $250,000 Complete Old Amore’s Pizza $250,000 Complete Jersey Mike’s $250,000 Complete Bluetique $250,000 Complete Goodnight’s Comedy Club $250,000 Complete Freshii $250,000 Complete Groucho’s $250,000 Complete
Commercial Upfits inside the BID (Page 2 of 2) Project Size Project Name Estimated Cost Status Medium* Two Guys/The Keg $250,000 Complete Needle Point $250,000 Complete Kk Shabaz Hookah $250,000 Complete Abahz Grocery $250,000 Complete Saxby’s $250,000 Complete Other (3) $750,000 Large* PJ Werth’s $500,000 Complete Chipotle $500,000 Complete Raleigh Brewing Company $500,000 Complete Classroom Electric Company $750,000 Complete Building Total: $6.8 M * Figures are an approximation and include “others” to account for renovations that may have been overlooked.
Public Infrastructure Improvements inside the BID Project Est Cost in Millions Status Hillsborough Streetscape Phase II $13 M Underway Hillsborough Streetscape Phase I $12 M Completed Total: $25 M
Economic Development Projects within the BID Within the BID Symbol Total - Completed since Creation of the BID $149.4M # - Proposed, Planned, or Under Construction $169.1 M abc - Commercial Upfits since Creation of BID (not pictured) $6.8 M - Public Infrastructure Improvements $25 M Phase 1 Phase 2 - BID Outline -- Total $350.3 M
Outside the Hillsborough Street Business Improvement District Development Projects near the BID
Economic Development Summary Within the BID Total (in Millions) - Completed since Creation of the BID $149.4 M - Proposed, Planned, or Under Construction $169.1 M - Commercial Upfits since Creation of the BID $6.8 M - Public Infrastructure Improvements $25 M Outside the BID - On Campus near the BID -- - Private Sector near the BID --
Development Projects inside & near the BID Sectors #of Projects Symbol -Hillsborough Street 17 - On Campus 25 -Off Campus Sector 8 - Public Infrastructure Improvements 2 Phase 1 Phase 2 - BID Outline --
Projects On NC State Campus near the BID 14 16 19 20 25
Projects On NC State Campus near the BID (Page 1 of 2) Map Projects Est. Cost in Millions Status 1 Energy Performance Renovation $10 M Proposed (Ant. Start Date 2017) 2 Patterson Business Center Reno. $2 M Proposed (Ant. Start Date 2016) 3 Daniels Hall $4.5 M Planned 4 Gardner Hall $2 M Planned 5 Harrelson Hall Demolition $3.5 M Design contract underway 6 Cox Hall (Scale Up) $1.875 M SD/DD Review Underway 7 Winston Hall HVAC $1 M CD Production Pending 8 CBC Flex Building $10 M Underway 9 Carmichael Gym Lockers $7.6 M 0% construction completed 10 Reynolds Coliseum $35 M 1% construction completed 11 CVM Anatomy Lab $1.75 M 2% construction completed 12 Ricks Hall $3.64 M 30% construction completed 13 D.H. Hill Upgrade $922K 29% construction completed
Projects On NC State Campus near the BID (Page 2 of 2) Map Project Est. Cost in Millions Status 14 Talley Student Center Addition and Renovation $122 M 98% construction completed 15 Lee and Sullivan Hall $6 M Completed in 2013 16 Yarbrough/Cates Steam Plant $77 M Completed in 2012 17 West Lot Parking Deck $7.5 M Completed in 2011 18 Veterinary School Renovation $64 M Completed in 2011 19 Park Shops Renovation $6 M Completed in 2009 20 SAS Hall $32 M Completed in 2009 21 NCSU Doak Baseball Field $6 M Completed in 2003 22 Cox/Dabney Renovation $16.9 M Completed 23 Bragaw Renovation $6 M Completed * Tentative Estimates Pending Review Total: $427.187 M
Meredith College Redevelopment Projects Map Project Est. Cost in Millions Status 24. Athletic Facility* -- Complete 25. Senior Housing* $2 M** Complete Total: $2 M *Tentative Estimates Pending Review **http://www.bizjournals.com/triangle/print-edition/2011/12/02/meredith-plotting-future-but-wont-be.html?page=all
Private Sector Projects near the BID 6 4 5 5 7 8
Private Sector Projects near the BID Map Projects Est. Cost in Millions Status 1 Ridgewood Apartments -- Proposed 2 Cameron Village Rite-Aid -- Proposed 3 Glover Lane Apartments -- Planned 4 616 Oberlin $40 M Planned 5 401 Oberlin $49 M Completed 6 Crescent Cameron Apartments $45 M Completed 7 Cameron Village Chick-Fil-A $5.6 M Completed 8 YMCA Aquatic Center (Interior Renovation) -- Completed Total: $139.6 M
Economic Development Summary Within the BID Total (in Millions) - Completed since Creation of the BID $149.4 M - Proposed, Planned, or Under Construction $169.1 M - Commercial Upfits since Creation of the BID $6.8 M - Public Infrastructure Improvements $25 M Outside the BID - On Campus near the BID (NC State & Meredith) $427.2 M - Private Sector near the BID $139.6 M Total: $917.1 M
Development Projects inside & near the BID Sectors #of Projects Symbol Total -Hillsborough Street 17 $325.3 M - On Campus 25 $427.2 M -Off Campus Private Sector 8 $139.6 M - Public Infrastructure Improvements 2 $25 M Phase 1 Phase 2 - BID Outline -- -- Grand Total $917.1M
Acknowledgements Blake Hall Mack Paul – Morningstar Law Group Brian Wallace – York Properties Mike Longmire – Risk Management Associates Cary Joshi Ralph Recchie – NCSU David Brown – J. Davis Architects Rick Baker – Baker Engineering Inc. Ed Scofienza – The Site Group Ted Van Dyk – New City Design Joe Whitehouse – Creative Urban Environments Toby Hinkle – New City Design Will Gaskins – Hillsborough St. CSC
Questions? Please Email: will@hillsboroughstreet.org
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