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Riverside Plaza Renewing an Iconic Urban American Community George Sherman ULI Minnesota Rail~Volution Riverside Plaza Case Study
| Date post: | 28-Jun-2015 |
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Real Estate |
| Upload: | railvolution |
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Riverside Plaza Renewing an Iconic Urban American Community George Sherman
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
Riverside Plaza Resident Resource Center
Plaza Halal Foods
Cedar Riverside Community School
Oct 2012
Jan 2011
National Register
Dec 2010
2004 Cedar Square West
1970 1980 1990 2000 2010 2020
1987
1973
2010
1988
11
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
Old Colors
New Colors
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
$140M
$120M
$100M
$80M
$60M
$40M
$20M
$0M
Developer Fee Reserves Reloca.on Other General Development/ Financing Fees Construc.on Interest Architectural/Engineering/ Legal Fees
Construc.on + Construc.on Con.ngency
Acquisi'on Cost $41 Mil
Sources Uses
Deferred Developer Fee Cash Flow from Ops Rebates Seller Note GMHC Loan Met Council CPED FHF Loan MHFA -‐ EHDC Loan MHFA -‐ PARIF Loan
4% LIHTC Equity Tax-‐Exempt Bonds
$140M
$120M
$100M
$80M
$60M
$40M
$20M
$0M
Developer Fee Reserves Reloca.on Other General Development/ Financing Fees Construc.on Interest Architectural/Engineering/ Legal Fees
Construc.on + Construc.on Con.ngency
Acquisi'on Cost
State HTC Loan Federal HTC Equity
B Bonds
Sources
Uses
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
Deferred Developer Fee Cash Flow from Ops Rebates Seller Note GMHC Loan Met Council CPED FHF Loan MHFA -‐ EHDC Loan MHFA -‐ PARIF Loan
4% LIHTC Equity Tax-‐Exempt Bonds
$140M
$120M
$100M
$80M
$60M
$40M
$20M
$0M
Developer Fee Reserves Reloca.on Other General Development/ Financing Fees Construc.on Interest Architectural/Engineering/ Legal Fees
Construc.on + Construc.on Con.ngency
Acquisi'on Cost B Bonds
State HTC Loan Federal HTC Equity
$29 Mil
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
Riverside Plaza Renewing an Iconic Urban American Community George Sherman
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
