Post on 21-Jul-2020
transcript
INTRODUCTION
SKYLINE TERRACES - SITE LOCATION
SKYLINE TERRACES - SITE LOCATION
3D FLY-THRU VIDEO
MILESTONES ACHIEVED
Milestones
Skyline Terraces is an exciting new master-planned community, comprising twenty-five architecturally designed townhomes each offering sweeping rooftop terrace views of the downtown skyline.
Situated in the rapidly evolving inner-eastern Ross Ave precinct. It is ideally located just minutes from bustling downtown, and only minutes from the dining, nightlife and cultural offerings of Uptown and Deep Ellum.
With construction due to start immediately, Skyline Terraces will compliment the exciting re-urbanization of this precinct !
Land holdings acquired and closed All disciplinary consultants tendered and procured Branding developed, domain secured, name registered www.skylineterraces.com launched Council approved under PD298 at pre-development meeting held 12/01/16 Phase environmental studies passed Architectural design and development elements completed Structural rating achieved to allow rooftop hot tubs Re-plat approved at CPC meeting held 02/16/2017 Permits filed – Civil / Demolishment / Fire / Landscaping / Paving and Drainage / 311TMarketing firm procured and marketing plan finalized Sales broker procured Architectural construction drawings completed General contractor tendered and hired HOA contracts negotiated Legal risk mitigation plan implemented In the final stages of securing funding
THE TEAM
Code Discipline Contact Role Company Phone Email Status
41-01 Consulting - Project Manager Colin Dooley Company Director Dooley Developments USA, LLC 214 842 2640 colin.dooley@dooleydevelopments.com HIRED
41-02 Consulting - Accounting Kep Kepner Senior CPA Kepner CPA 214 361 5081 kep@kepnercpa.com HIRED
41-03 Consulting - Legal Jeff Matthews Defects Litigation Attorney Winstead 214 745 5634 jmatthews@winstead.com HIRED
Jeanne Katz Defects Litigation Attorney Winstead 214 745 5634 jkatz@winstead.com HIRED
Dean Riddle HOA Attorney Riddle & Williams 214 760 6766 office@riddleandwilliams.com HIRED
Clint Brown HOA Attorney RMWBH Law 512 279 7344 cbrown@rmwbhlaw.com HIRED
41-04 Consulting - Broker - Acquisition Scott Lake Urban Land Director Davidson Bogel Real Estate 214 526 3626 slake@db2re.com HIRED
Jake Milner Urban Land Specialist Davidson Bogel Real Estate 214 526 3626 jmilner@db2re.com HIRED
41-05 Consulting - Title Company - Acquisition Robert Blanshard Commercial Escrow Officer Capital Title 972 682 2700 RBlanshard@ctot.com HIRED
41-06 Consulting - Surveying Josh Edge Branch Manager Dynamic Engineering 214 226 3044 jedge@dynamicec.com HIRED
Warren Hilla Senior Project Manager Dynamic Engineering 732 600 6195 whilla@dynamicec.com HIRED
41-07 Consulting - Platting Josh Edge Branch Manager Dynamic Engineering 214 226 3044 jedge@dynamicec.com HIRED
Warren Hilla Senior Project Manager Dynamic Engineering 732 600 6195 whilla@dynamicec.com HIRED
41-08 Consulting - Town Planning Rob Baldwin Company Director Baldwin Associates 214 824 7949 rob@baldwinplanning.com HIRED
Jennifer Hiromoto Senior Town Planner Baldwin Associates 214 824 7949 jennifer@baldwinplanning.com HIRED
41-09 Consulting - Architect Truett Roberts Principle Architect TKTR Architects 214 855 9344 truett@tktrarchitects.com HIRED
Edward Magee Consulting Architect TKTR Architects 214 855 9344 edward@tktrarchitects.com HIRED
41-10 Consulting - Engineering - Structural Richard Reed Principal President Urban Structure 214 295 5775 rreed@urbanstruct.com HIRED
41-11 Consulting - Engineering - Mechanical David Lippe Principal Lippe and Associates Engineers 972 387 3500 david.lippe@rtmassociates.com HIRED
41-12 Consulting - Engineering - Civil Josh Edge Branch Manager Dynamic Engineering 214 226 3044 jedge@dynamicec.com HIRED
Warren Hilla Senior Project Manager Dynamic Engineering 732 600 6195 whilla@dynamicec.com HIRED
41-13 Consulting - Engineering - Geotechnical Josh Edge Branch Manager Dynamic Engineering 214 226 3044 jedge@dynamicec.com HIRED
Warren Hilla Senior Project Manager Dynamic Engineering 732 600 6195 whilla@dynamicec.com HIRED
41-14 Consulting - Phase Studies Atul Rajani Project Supervisor Envirocare USA 972 768 1235 arajani@envirocare-usa.com HIRED
Rebecca Evans Green Energy Code Inspector Evans Service Company 214 228 2159 Rebecca@EvansServiceCompany.com HIRED
41-15 Consulting - Landscape Josh Edge Branch Manager Dynamic Engineering 214 226 3044 jedge@dynamicec.com HIRED
Warren Hilla Senior Project Manager Dynamic Engineering 732 600 6195 whilla@dynamicec.com HIRED
41-16 Consulting - Acoustic Mark Enersen Acoustic Engineer Acoustic Works 617 3393 2222 menersen@acousticworks.com.au HIRED
41-17 Consulting - Graphic Design Nathan Budde Senior Graphic Renderor Budde Design 614 2042 2580 nathan@buddedesign.com HIRED
Alec Lynch Logo Designer Design Crowd 800 377 6955 support@designcrowd.com HIRED
Michael Potts Senior Graphic Renderor M2 214 320 1696 mpotts@m2studio.net HIRED
Jaycee He General Manager - 3D Design Lifang Vision Technology Co .,Ltd 917 680 5560 hexl@lifang-cg.com HIRED
Dolly Lee Senior Graphic Renderor Lifang Vision Technology Co .,Ltd 917 680 5560 lifanginternational@gmail.com HIRED
41-18 Consulting - General Contractor Rob Leonard President Verge Construction 972 571 2301 rob@vergecon.com HIRED
Stephen Graham Vice President, Project Manager Verge Construction 214 695 9047 stephen@vergecon.com HIRED
Lee Allen Principal Verge Construction 214 629 6050 lee@vergecon.com HIRED
Brent Shockley Lead Superintendent Verge Construction 214 695 9047 stephen@vergecon.com HIRED
Patrick Kirkland Assistant Superintendent Verge Construction 214 695 9047 stephen@vergecon.com HIRED
Devin Wells Estimator Verge Construction 214 695 9047 devin@vergecon.com HIRED
Mark Tutt Warranty / Site Manager Verge Construction 214 695 9047 stephen@vergecon.com HIRED
Deborah Gilbert Procurement Manager Verge Construction 214 695 9047 stephen@vergecon.com HIRED
Tony Ramji President/CEO Victory Group 214 718 0707 tony@vg-re.com HIRED
Bobby Dan Roberts Chief Operating Officer Victory Group 214.707.4495 bdr@vg-re.com HIRED
Kris Ramji Chief Operating Officer Victory Group 214 718 2626 kris@vg-re.com HIRED
Brandon Scott Broker/REALTOR Victory Group 817.703.4653 brandon@vg-re.com HIRED
Michael Johnston Director of Development Victory Group 214.755.5213 mjohnston@vg-re.com HIRED
41-19 Consulting - Finance Pedro Rodriguez Small Business Consultant Bank of America 214 520 3694 parodriguez@bankofamerica.com HIRED
Robert Garza Merrill Edge Consultant Bank of America 214 224 5524 robert.doc.garza@ml.com HIRED
Charlie DiCarlo Merrill Lynch Consultant Bank Of America 214 750 2025 charles.dicarlo@ml.com HIRED
Matthew Craig US Trust Consultant Bank Of America 214 224 5524 robert.doc.garza@ml.com HIRED
Scott Morris Vice President Graham Investments 214 293 4110 SMorris@grahaminvestments.com HIRED
41-20 Consulting - Appraisals Ernie Gatewood Appraisal Consultant Jackson Claborn, Inc 972 725 7755 ernestg@jacksonclaborn.com HIRED
41-21 Consulting - Marketing Christian Adams Marketing Director Dallas Luxury Realty 214 527 7080 christian@luxuryrealtytx.com HIRED
41-22 Consulting - Quantity Surveyor Lender Acquired Lender Acquired Lender Acquired 000 000 0000 tba@lenderaquired.com HIRED
41-23 Consulting - Certifier Truett Roberts Principal Architect TKTR Architects 214 855 9344 truett@tktrarchitects.com HIRED
41-24 Consulting - Staging Nick Nussrallah Interior Designer DW Design Group 817 481 7984 nick@dwdesigngroup.net HIRED
41-25 Consulting - Broker - Sales David Wyrick Senior Realtor Dallas Luxury Realty 214 930 1642 david@luxuryrealtytx.com HIRED
41-26 Consulting - Title Company - Sales Robert Blanshard Commercial Escrow Officer Capital Title 972 682 2700 RBlanshard@ctot.com HIRED
41-27 Consulting - HOA Management John McLaughlin Senior Vice President Real Manage 972 380 3505 john.mclaughlin@realmanage.com HIRED
Jordan Jackson Business Development Manager Real Manage 972 380 3508 jordan.jackson@realmanage.com HIRED
45-01 Insurance - General Liability Philip Lawson General Liability Insurance Patterson & Assoc. Insurance Agency 214 253 2289 philip@piainsure.com HIRED
45-02 Insurance - Directors and Officers Katie Vaughan HOA Insurance CiraConnect Insurance Services 855 877 2472 katie.vaughan@ciraconnect.com HIRED
CONSULTANTS
AREA REGENTRIFICATION
COMPARABLE PROJECTS
$245.00/FOOT
$263.00/FOOT
$296.00/FOOT
MARKET DATA – ZIPCODE 75204
75204 Home Prices & Values
ZILLOW HOME VALUE INDEX 0
$343,700
9.3% 1-year change 4.1% 1-year forecast
Ap 20
_ ............. .. ..... ....
.............
The median home value in 75204 is $343,700.
75204 home values have gone up 9.3% over the past
year and Zillow predicts they will rise 4.1% within the
next year. The median list price per square foot in
75204 is $244, which is higher than the Dallas
average of $205. The median price of homes
currently listed in 75204 is $425,000. The median
rent price in 75204 is $1,972, which is higher than
the Dallas median of $1,625.
Read more
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75204 Market Overview
Data through Apr 30, 2017
$343,]QQ ZHVI 0
@ 4.1% 1 -yrforecast 0(Apr30,2018)
$425,000 Median listing price
No data Median sale price
Zillow Home Value Index
Apr 2017 - 75204 $360K
2008 2009 2010
2 bedroom
2011 2012
1-yr 5-yr Max
$373K
$320K
$267K
$214K
2013 2014 2015 2016 2017
Compare li·i::iil View Data Table
75204 Market Health Data through Apr 30, 2017
@ 8.8/10 Very healthy 9
No data Average days on Zillow
0.1% Homes with negative equity (0.1% US Avg) (Sep 30, 2016)
0.0% Delinquent on mortgage (0.0% US Avg) (Sep 30, 2016)
HOMES FORECLOSED (per 10,000)
l(Aug 31, 2016) 2
-0
7S204 Dallas United States
Homes foreclosed
May 2016 - 75204 2.06
2007 2008 2009
Ill
2 bedroom 1-yr 5-yr Max
24.3
16.21
8.12
0.03
2010 2011 2012 2013 2014 2015 2016
Compare Ii+,;;; View Data Table
Listings & Sales Data through Apr 30, 2017
$244 Median list price/ sq ft
No recent data Median sale price/ sq ft
12.2% Listings with price cut
Median list price / sq ft
Apr 2017 - 75204 $243
2011 2012
2 bedroom
2013
1-yr 5-yr Max
$256
$212
$168
$124
2014 2015 2016 2017
Compare 11\H::iii View Data Table
75204 Rentals
Data through Apr 30, 2017
ZILLOW RENT INDEX 0
$2,181
$1,396
-75204 Dallas
1.8 Breakeven horizon O (Sep 30, 2016)
$1,972 Rent list price
$1.56 Rent list price/ sq ft
$1,421
-Unitc,d States
LI _z_ill_o_w_R_e_n_t_ln_d_e_x _______ ·_.I All homes
Apr 2017 - 75204 $2,181/mo
2011 2012 2013
Ill
2014
1 -yr 5 -yr Max
$2.2K
$1.9K
$1.7K
$1.4K 2015 2016 2017
Compare li-i:,iii View Da ta Table
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Purchase price
1-1 $495,000 I+ I
Down payment
1 $74,250
How much should you put down?
30-yearfixed
Mortgage payment (principal & interest only)
$1,949
�e>�g.ige insurance
Interest rate .........................................
APR1
Points
Closing costs (Bank of America & third-party fees)
$84
3.750%
3.946%
0.992
$10,346
.1 .. ?..�year fixed_
$2,931
$77
3.125%
3.325%
0.612
$8,748
Property ZIP code
115204 1
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GENERAL CONTRACTOR
HOA MANAGEMENT
MARKETING
How are we going to promote it? Branding / design: Developer is in charge or Branding and Design, Video Production and Photography. Social Media: Monthly Budget - $900 Potential Reach – 157,000 residents in 75204/75214/75202 We believe our target market to be tech-savvy, and as such will focus our online marketing efforts (outside of MLS syndication) largely on social media platforms. Both Facebook and Instagram now allow extremely specific ad-targeting options, including being able to target by Zip code. We have found that even by setting a very small ad budget of as low as $30 per day, we are able to expand awareness of a property and development purely due to branding reinforcement. Users may not even click on or interact with advertisements (resulting in $0 cost), but they will repeatedly see branding and images of the homes throughout their browsing experience.
The campaign will be designed to elicit excitement but also exclusivity, and will encourage browsers to “get on the list” to get exclusive pricing, bonuses and event invites during a limited time period. We will incorporate a countdown “time to launch” timer into the page to encourage signup and increase anticipation. Users who enter their email will then be put on a select list, and at a pre-determined time receive an email notification that the project “pre-sale” period is open, and that at that time they are eligible for special promotions.
PR: Monthly budget - $300 Potential Reach – 500K readers There is already heavy interest in Ross Ave redevelopment, as proven by numerous recent articles: http://www.bizjournals.com/dallas/news/2016/07/07/city-block-project-on-ross-avenue-on-track-to-get.html http://www.dallasnews.com/business/real-estate/2016/05/12/the-next-uptown-ross-avenue-gets-a-remake-on-downtown-dallas-near-east-side http://www.dallasnews.com/business/real-estate/2016/10/27/trammell-crow-buys-block-ross-avenue-just-east-downtown-dallas http://www.dallasnews.com/business/business/2016/04/29/developers-are-licking-their-chops-to-buy-disds-ross-avenue-properties We plan to use this existing interest to promote the project as the one of the premier developments available to consumers in the neighborhood. We will engage in direct communication with area news publications as well as national real estate portals and local bloggers such as Candy's Dirt to raise awareness of the project. Direct Mail: Monthly budget - $700 Approximate reach – 2000 area renters per month There is already a strong base of multi-family apartment buildings in the area, with the best target option being the Icon at Ross and some higher-end private rental homes. A lot of long-term residents in the area have traditionally been renters as there have not been a lot of residential units available for sale, and tenants have chosen to stay in the area rather than purchase elsewhere. We intend to focus our direct-mail efforts on current tenants in these buildings to raise awareness of alternative living options. We will also focus our event promotions on these buildings, as we believe word-of-mouth about the development will spread faster within the community than outside it.
Signage: One time cost - $500 Location and traffic figures TBD based on placement of sign.
Events & Broker Outreach: Printing Costs (Brochures & Invitations) - $700 (1 time) Event Cost - $1500 (1 time) Skyline Terrace is an urban redevelopment project with a focus on the modern, urban lifestyle, and we believe that potential buyers, and also their agents, need to understand the ethos behind the project to appreciate its value. Nothing could capture that better than the hosting an evening celebration at the development itself. We plan to organize a launch party for Skyline Terrace as soon as an existing model is ready, and host an event on site. We also hope to co-brand the event with already popular bars and eateries in the area, not only to generate neighborhood interest in events and the development itself, but also to raise awareness of potential buyers to the gastronomic availabilities in the area.
MLS and Syndication: We realize that outside of independent marketing efforts, the MLS also plays an important part in informing both agents and the public about new developments and properties. We carefully curate our listing photos and descriptions to evoke a true image of the top selling points of each development, and we are also one of the top-rated Zillow Premier agents in the area. By buying out Zip codes around a development on websites like Zillow and Trulia, we ensure that ALL inquiries for any residential properties go directly to us, which allows us to up-sell your development over any other listing.
Total Proposal cost: Monthly for first 12 months - $1900 p/m One time costs - $2600 Total 12 month budget: $25,400
INVESTMENT OPPORTUNITY
INVESTOR RETURNS
CAPITAL SOURCES
Senior Lender 3,474,729.10$
General Partner (Investors) 700,000.00$ Distribution Waterfall
Limited Partner (Developer) 916,000.00$ Years
5,090,729.10$ Preferred Return - General Partner (Investors) 501,437.45$ 50% 1.5
Preferred Return - Limited Partner (Developer) 501,437.45$ 50% 1.5
BUDGET
Land Acquisition 1,811,928.00$
Hard Costs 2,601,501.10$
Soft Costs 677,300.00$
TOTAL: 5,090,729.10$ Internal Rate of Return
LP - All In 2,618,874.90$
PROFIT Dates 6/15/2017 12/15/2018
Final Value 6,093,604.00$ Equity (1,616,000) 2,618,875
All in costs 5,090,729.10$ IRR 37.93%
TOTAL: 1,002,874.90$ 16.46%
QUESTIONS?