1 / 37

Transit-Oriented Development: A Public / Private Effort

Transit-Oriented Development: A Public / Private Effort. May 19, 2011 NALHFA. Cynthia A. Parker, President & CEO BRIDGE Housing Corporation. Overview: Affordable Housing. Challenges Market Has No Incentive to Create High Construction Costs Land Cost/Availability Community Opposition

renate
Télécharger la présentation

Transit-Oriented Development: A Public / Private Effort

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Transit-Oriented Development: A Public/Private Effort May 19, 2011 NALHFA Cynthia A. Parker, President & CEO BRIDGE Housing Corporation

  2. Overview: Affordable Housing • Challenges • Market Has No Incentive to Create • High Construction Costs • Land Cost/Availability • Community Opposition • Public Benefit Add-Ons • Complicated Financing Structures • Need for Gap Financing to Produce at Scale

  3. Transit-Oriented Development: Public/Private Opportunities • State of California and Redevelopment Agencies • Public and Private Developers • Surplus Land Disposition/Redevelopment Opportunities • Financial Resources • Pass Through Federal Funds • RDA Tax Incentives and Other Resources ($1billion annually) • State TOD Funds (Prop 1C Funds

  4. Transit-Oriented Development: Local Jurisdictions • Proper Zoning & General Plan Designations • Inclusionary Ordinances • Funding Resources • Encourage Partnerships (for profit, non profit) • Surplus Land

  5. Transit-Oriented Development: Other Players • Public Agencies • Financing: MTC, Housing Authorities, etc • Surplus Land/Intensified Uses: School Districts, Transit Agencies, County Agencies • Community Based Organizations • Churches • Non-Profit Agencies

  6. Transit-Oriented Development: Financial Markets • Public Finance Options • Banking • Equity Investment: Socially Responsible Screen • Foundations • PRI’s • Grants • Research and Development

  7. Transit-Oriented Development: First Take • One Church Street

  8. Development Approach • Transit-Oriented Development • First Residential Development on BART Property with Strobridge Court • 25 Transit-Oriented Developments Linked to BART, Commuter Rail, Light Rail, and Local Transit Systems • Regularly Awarded Grants to Incorporate Transit Linkages into New Developments

  9. Transit-Oriented Development: Case Study • One Church Street • 93-Units of Multifamily Affordable Apartments: One-Bedroom: 30, Two-Bedroom: 35, Three-Bedroom: 28 • Directly Adjacent to Public Transportation • On-site Child Care • Community Room • Computer Learning Center • Ground-Level Retail Shop • Significant Community Involvementthroughout the Development Process

  10. Transit-Oriented Development: Case Study • One Church Street

  11. Transit-Oriented Development: Case Study • One Church Street

  12. Irvington Village

  13. Irvington Village • Pension Fund Investment • Rezone Due to State Fair Share Requirements • Inclusionary Zoning • City Funded • NIMBY Issues • State GO Bond Funding • Mixed Income Master Plan/Joint Planning Effort

  14. Irvington Village

  15. Irvington Village

  16. Mission Walk

  17. Mission Walk 330 & 335 Berry Street CALTRAIN

  18. Mission Walk • 131 below market rate condominiums (includes 14 townhomes) on two sites (1.32 acres combined) • Part of 2,900 units (655 affordable) to be developed in Mission Bay Redevelopment Area • 1 – 3 Bedrooms; 606 – 1300 SF. Average Price of $235,906 • 114 parking spaces (incl. one car share space) • SFRA contributed land and $35 million in construction financing that will convert to homeowner loans • Will be LEED certified • Approximately $63 million total development costs

  19. Mission Walk • Large Scale Redevelopment – Intense Planning Process/Negotiation with Land Owner • Predesignation of land uses • Local Agency Selection of Developer • Local Agency Financial Participation • State Financial Participation • Foundation Participation – Second mortgage program

  20. Mission Walk: Sources and Uses of Funds *Construction cost savings of $2MM or more will be returned to the SFRA at the end of the project.

  21. Mission Walk

  22. North Beach Place

  23. North Beach Place • Underutilized Housing Authority Land • Local Monies • Partnership • For-Profits • Non-Profits • Housing Authority • Redevelopment Agency • Mayor’s Office of Housing • Service Providers

  24. North Beach Place

  25. North Beach Place

  26. North Beach: Sources and Uses

  27. North Beach: Sources and Uses

  28. MacArthur Transit Village • Project Summary: • 7.76 acres • 516 Market Rate Homes • 108 Affordable Homes • 42,500 sf Commercial/ Retail • 5,000 sf Child Care Facility • 400+ stall parking garage

  29. MacArthur BART Transit Village

  30. MacArthur BART Transit Village

  31. MacArthur BART Transit Village

  32. MacArthur BART Transit Village

  33. COMM 22

  34. COMM 22 • Partnering with two local nonprofits • First large-scale, mixed-use, transit-oriented development in So Cal • Redevelopment of school district maintenance facility; vacant for 20 years • Multiphasedproject: • Family Rental - 130 units + retail • Senior Rental- 70 units + daycare • Live/work lofts + retail - 38 units + retail • For-sale rowhomes - 17 units

  35. COMM 22

  36. COMM 22: Sources and Uses

  37. COMM 22

More Related