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Streetcars & Cities in the 21st Century.

Charlotte, North Carolina

October 11, 2007

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Elizabeth Avenue

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Johnson & Wales University

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CPCC: Central Campus Master Plan

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CPCC: Central Campus Master Plan

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Presbyterian Hospital

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Elizabeth Avenue

(before)

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Elizabeth Avenue

(planned)

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Elizabeth Avenue @ Hawthorne Avenue

(planned)

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Retail

250,000 SF

Office

200,000 SF

Medical Office

250,000 SF

Residential

1,000 Units

Hotel

200 Rooms

Parking

4,000 Spaces

* Does not include adjacent corridor development

Elizabeth Avenue : Projected Build Out

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Elizabeth Avenue:Projected Valuation Metrics

Baseline Tax Value (2003) $31,582,110

Projected Tax Value $350,000,000

% Value Increase 1,008%

Projected Annual Property Tax $4,540,550

Total Annual Sales Tax Revenue $5,625,000

1/2 Cent Transit Tax Component $375,000

10 yr Property Tax Revenue $52,052,317

10 yr Total Sales Tax Revenue $64,484,321

10 yr Transit Tax Revenue Component $4,298,955

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Central Avenue / Barnhardt TOD

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Central Avenue @ Hawthorne Avenue

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Central Avenue, Hawthorne Avenue, Barnhardt TOD & Adjacent Areas

(Potential)

Streetcar Transit Loop

Transit OrientedMixed-Use

Development

Belmont Neighborhood

Mixed-Use Development

Corridor

Plaza - Midwood Neighborhood

Seigle PointMixed-IncomeCommunity

Central Avenue

ElizabethNeighborhood

Sugar Creek Greenway

Recreation & Open Space

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Barnhardt TOD : Projected Build Out

Retail

120,000 SF

Office

250,000 SF

Residential

950 Units

Parking

2,550 Spaces

* Does not include adjacent corridor development

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Barnhardt TOD:Projected Valuation Metrics

Baseline Tax Value (2003) $3,795,800

Projected Tax Value $220,000,000

% Increase 5,696%

Projected Annual Property Tax $2,854,060

Total Annual Sales Tax Revenue $2,250,000

1/2 Cent Transit Tax Component $150,000

10 yr Property Tax Revenue $32,718,599

10 yr Total Sales Tax Revenue $25,793,728

10 yr Transit Tax Revenue Component $1,719,582