FRA 2007 ANNUAL FRA 2007 ANNUAL CONFERENCECONFERENCE

UPTOWN & DOWNTOWN:MIXED-USED PROJECTS

AT THEIR BEST

SUBURBAN LIFESTYLESUBURBAN LIFESTYLE Single Use Zoning and Development

SCHOOL

HOME

ENTERTAINMENT SHOP

WORK

LUNCH

URBAN LIFESTYLEURBAN LIFESTYLEMixed-Use Development

HOME/WORK/LUNCH/SHOP/ENTERTAINMENT

BENEFITS OF AN BENEFITS OF AN URBAN LIFESTYLEURBAN LIFESTYLE

• Less time spent in your vehicle

• Increased social interaction

• More leisure time

• Enhanced quality of life

MALL DEVELOPERS ARE MALL DEVELOPERS ARE CATCHING ON …CATCHING ON …

The enclosed A/C mallsOf the 60’S & 70’S are Being replaced with

Mixed-use“LIFESTYLE CENTERS”

Downtowns Downtowns were thewere theoriginal

Mixed-use DevelopmentsMixed-use Developments

FIRST NATIONAL FIRST NATIONAL BANKBANK

FIRST STREET MARKET PLACEFIRST STREET MARKET PLACE

BRADFORD HOTELBRADFORD HOTEL

Zoning & Land Use CodesZoning & Land Use Codes

must allow & must allow & encourage

Mixed-use Buildings & Mixed-use Buildings & DevelopmentsDevelopments

Areas to address:Areas to address:

• Comprehensive Plan

• Growth Management Code

• Life, Safety, & Building Codes

• ADA Requirements• Historic Preservation Guidelines

• Parking Policies

• Noise Ordinances

DEVELOPMENT INCENTIVES DEVELOPMENT INCENTIVES ENCOURAGE ENCOURAGE

REHAB & ADAPTIVE REUSEREHAB & ADAPTIVE REUSE• 10-Year Property Tax

Assessment Freeze• 20% Historic Rehabilitation Tax

Credit• Parking Exempt Zone• Discounted Parking Rates for

River District Residents

CORNER OFCORNER OF FIRST STREET & FIRST STREET & JACKSON STREETJACKSON STREET

(Office over Commercial)

BEFOREBEFORE

DURINGDURING

DURINGDURING

AFTERAFTER

SALON SALON NICHOLASNICHOLAS

(Residential over Personal Services)

EARNHARDT BUILDINGEARNHARDT BUILDING

RESIDENTIAL CONDOMINIUMS OVER RETAIL/RESTAURANT CONDOMINIUMS

PATIO de LEON BUILDINGPATIO de LEON BUILDING

RENTAL APARTMENTS OVER RETAIL

RIVER DISTRICTRIVER DISTRICT

CREATE MIXED-USE CREATE MIXED-USE CENTERSCENTERS

FIRST STREET VILLAGEFIRST STREET VILLAGEDEVELOPMENT DEVELOPMENT

AGREEMENTAGREEMENTCRA’s Participation:50% Tax Increment Rebate for 14 years

OR Until Project Payments = $23,527,389

(Whichever comes first)

Net Present Value= $11,882,930(Assumes rate of 5%)

FIRST STREET VILLAGEFIRST STREET VILLAGEDEVELOPMENT DEVELOPMENT

AGREEMENTAGREEMENTDeveloper’s Participation:Sells 3.81 acres of 12.5 acre site to PUBLIX/

REGENCY for :

– A grocery store, – Parking lot, – 14 liner townhomes, and– 10,000 sq. ft. of retail space

FIRST STREET VILLAGEFIRST STREET VILLAGEDEVELOPMENT AGREEMENTDEVELOPMENT AGREEMENT

Developer’s Participation (cont.):Develops remaining 8.7 acres as a MIXED-USE PROJECT with:

- 360 Residential Condominiums,- 55,000 sq. ft. of Retail/Restaurant

space, - 40,000 sq. ft. of Office space

including Live/Work Opportunities and Parking, as required

360 RESIDENTIAL UNITS

First Street Village

55,000 SQUARE FEET OF RETAIL/RESTAURANT SPACE

First Street VillageFirst Street Village

40,000 SQUARE FEET OF OFFICE/COMMERCIAL SPACE

First Street VillageFirst Street Village

PUBLIX DEVELOPMENT PUBLIX DEVELOPMENT AGREEMENTAGREEMENT

PUBLIX/REGENCY•Construct store prior to completion of Residential High Rises

•25-year Lease with 5-year Guarantee

CRA 5 -year Rent Abatement at $600,000 per year

PUBLIX DEVELOPMENT PUBLIX DEVELOPMENT AGREEMENTAGREEMENT

PUBLIX/REGENCY (cont.)• Strict adherence to approved Planned

Unit Development design ▪ Covered/enclosed loading docks▪ Parking in mid-block screened by

townhouses, decorative arbor and retail space

▪ Architecturally detailed exterior with rear entrance

PUBLIX GROCERYPUBLIX GROCERY

40,000 SQUARE FOOT

PUBLIX GROCERYPUBLIX GROCERY

BACK ENTRANCE

PUBLIX GROCERYPUBLIX GROCERY

LOADING DOCK

PUBLIX GROCERYPUBLIX GROCERY

LOADING DOCK ENTRANCE

PARKING LOT SCREENING

PUBLIX GROCERYPUBLIX GROCERY

PEDESTRIAN SCALE LINER BUILDINGS