Great Expectations for Large-Scale TOD

Rail-Volution

September 22, 2014

Jim Kennedy

Contra Costa County, California

Contra Costa Centre Transit Village

Contra Costa Centre Development Summary (9/14)1

Status Commercial2 (sf) Housing3 (du) Hotel (rooms)

Completed 2,440,487 2700 423

Under Construction -0- -0- -0-

Future Projects 310,000 100 -0-

Total 2,750,587 2800423

1. Includes specific plan area and immediate vicinity2. Includes office and retail square footage3. Residential dwelling units

Planning Landmarks

•1983/84 – County adopts Specific Plan and RDA Plan

•1989 – Specific & RDA Plans amended for Area 3•1999 – Major Specific Plan Amendments•2001 – BART Property Charrette

1.0 Economic Cycles/Events

1.1 Coggins Square/Iron Horse Lofts – FIRREA (Financial Institutions Reform, Recovery & Enforcement Act)

• Over 50% of development sites change ownership prior to development

• Successful local developers >>> national/international

1.2 Changing Partnerships with a Changing Economy

Ownership Changes – Area 7B/8

2.0 Political Factors

2.1 Political Factors in Land Use

Contra Costa Centre is an unincorporated area at the confluence of 3 cities

Contra Costa Centre is an infill setting surrounded by existing neighborhoods

Regional accessibility to BART patrons is unequaled Fiscal issues

Competition with adjacent cities Regional retail Return on investment – BART & Contra Costa County

BART Joint Development Site

Take Two – Citizens Create A Transit Village

• Development conceived during 2001 Charrette• Highly participatory public planning process

• Over 500 participants• 80 hours of “open door” time in six days

• Residential mixed use program• Rezoning – 2002• Final Development Plan - 2005

Charrette Action

• Strong public realm• Strong connection to regional trail• Mixed use• Office on the north• BART parking

provided for

Citizen Plan Determines Final Site Plan

Avalon Walnut CreekDevelopment Description

• 522 Residential units• 422 rental• 100 for-sale townhomes

• 290,000 sf of office• 35,550 sf of retail• 20,000 sf business conference center• Parking for all uses in on-site structures

2.2 Park Regency Apartments

• Privately owned• Properties added to Plan Area• Plan of finance

• Tax Exempt Bonds• RDA Assistance

• Mixed Income – 80/20• Completed - 1992

2.3 Roadway corridor evolves to a Linear Green

3.0 Institutional Change - Wally nails it

3.1 Avalon Walnut Creek Business Partnership

Public Financial Goals

• Create a long term revenue stream via ground lease structure

• Acknowledge the major front end RDA expenditure - $59.9 milliono BART Replacement parkingo Placemaking elementso Backbone infrastructure

• Reflect RDA Affordable Housing Assistance• Provide BART with value capture in the near

term

Joint Powers Agency (JPA) Structure

The Money99-year Revenue Projections - Cumulative

$0

$100

$200

$300

$400

$500

$600

$700

2006 2011 2016 2021 2026 2031 2036 2041 2046 2051 2056 2061 2066 2071 2076 2081 2086 2091 2096 2101

Millions

$696 Million

AVALON WALNUT CREEK

3.2 PUBLIC / PRIVATE PARTNERSHIPS

• Affordable Housing

• Child Care

• Transportation Demand Management

(TDM)

• Resident Deputy

• Landscape Maintenance

3.2-1 Affordable Housing Production

• RDA land subsidy • CC Centre Assoc. subsidy• County Tax Exempt Bond Financing• CCCA Child Care Affordability Fund

3.2-2 Child Care – Step Ahead Center

3.3-3 Transportation Demand Management

• Operated by Contra Costa Centre Association

• County service area formed - $275,000/year

• TDM Performance:o Residential = 50% use BARTo Employees = +30% TDM

Pedestrian and Bicycle Overcrossing – RDA, Local & Federal Transportation Funds

3.3-4 Resident Deputy

• Funded by Contra Costa Centre Association

• $250,000 annual payment to County Sheriff

• Walden Green• Fox Creek Park• Roadway landscaped medians

3.3-5 Park Maintenance Privatized

Thank you for your time