600 N. Andre ws Ave nue AN AF F ORDABL E L I VE / WORK - - PowerPoint PPT Presentation

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600 N. Andre ws Ave nue AN AF F ORDABL E L I VE / WORK - - PowerPoint PPT Presentation

Aug 14, 2023 253 likes •441 views

600 N. Andre ws Ave nue AN AF F ORDABL E L I VE / WORK COMMUNI T Y OUR T E AM BROWARD COUNT Y BOARD OF COUNT Y COMMISSIONE RS Mr . Willia m Sc hne ide r E xe c utive Dir e c tor T ur nstone De v. Ms. Hope Gar y

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SLIDE 1

600 N. Andre ws Ave nue

AN AF F ORDABL E L I VE / WORK COMMUNI T Y

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SLIDE 2

OUR T E AM

BROWARD COUNT Y BOARD OF COUNT Y COMMISSIONE RS Mr . Willia m Sc hne ide r E xe c utive Dir e c tor T ur nstone De v. Br

  • a d a nd Ca sse l

L e g a l Counse l F ina nc ia l Consulta nt L ig hte ng a le Gr

  • up

Dr a pe r & Kr a me r Rubin Br

  • wn

Gr yc on- Bur ling Builde r s Ge ne ra l Contra c tor Ar c hite c tur a l Se r vic e s Unite d Ar c hite c tur a l Se r vic e s F lynn E ng ine e r ing Se r vic e s Pie ka r z Assoc ia te s L a ur a L le r e na & Assoc ia te s

  • Ms. Hope Gar

y Chie f E xe c utive Offic e r F L CC L

  • c hr

ie & Cha ka s Zoning / L a nd Use RAM Pr

  • pe r

ty Ma na g e me nt

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SLIDE 3

OUR T E AM

T URNST ONE DE VE L OPME NT

  • Almo st 2 de c a de s o f a ffo rda b le

ho using de ve lo pme nt suc c e ss

  • F
  • c use d pe rso na l a tte ntio n o n yo ur
  • rg a niza tio n a nd pro je c t
  • F

le xib le , le a n pro je c t o rg a niza tio na l struc ture a llo ws fo r q uic k de c isio ns

  • Ac c o unta b le to yo u

F ORT L AUDE RDAL E COMMUNI T Y CE NT E R

  • Pro ve n re c o rd o f c o nse nsus a nd

c o mmunity b uilding a s a me mb e r o f the F

  • rt L

a ude rda le c o mmunity

  • Hig hly re spe c te d a nd suc c e ssful

mino rity jo b tra ining a nd pla c e me nt

  • Stro ng c o mmunity a dvo c a te

We b ring a n e xc e ptio na l te a m o f c o ntra c to rs, a rc hite c ts, la nd use pla nne rs a nd le g a l c o unse l to e nsure a first c la ss a ffo rda b le de ve lo pme nt tha t fits with the c o mmunity a nd its ne e ds.

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SLIDE 4

De ve lo pme nt Site

Pic ture d - (A) 615 N. Andre ws Ave nue (De ve lo pe d b y T urnsto ne De ve lo pme nt) (B) 600 N. Andre ws Ave nue (Pro po se d de ve lo pme nt site fo r T urnsto ne De ve lo pme nt)

A B

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SLIDE 5

YOUR GOAL S

  • De ve lo p a n a ffo rda b le pro je c t tha t

me e ts the ne e ds o f the c o mmunity.

  • Affo rda b le to ho use ho lds a t o r b e lo w

120% o f Are a Me dia n I nc o me .

  • Bring multiple use s tha t c o mplime nt

ne ig hb o rho o d.

  • Se a mle ssly c o nne c t the pro je c t to the

c o mmunity thro ug h de sig n, de nsity, d ive rsity a nd lo c a l pa rtic ipa tio n.

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SLIDE 6

PROJE CT F I NANCI NG

  • 150 a ffo rda b le ho using units
  • 2 – 530 sq ua re fo o t studio a pa rtme nts. Re nt = $1,475
  • 122 – 720 sq ua re fo o t o ne b e dro o m a pa rtme nts.

Re nt = $1,581

  • 24 – 1,028 sq ua re fo o t two b e dro o m a pa rtme nts.

Re nt = $1,895

  • 2 – 1,150 sq ua re fo o t thre e b e dro o m a pa rtme nts.

Re nt = $2,159

Sources: First Mortgage 25,450,000 CRA Loans / Grants 5,000,000 Deferred Developer Fee 2,050,000 Equity 14,959,518 47,459,518 Uses: Capitalized lease payment 350,000 Construction & Sitework 37,150,000 Construction Period Interest 473,461 Professional Fees 2,229,163 Marketing and Leasing 202,500 Lender Fees 1,004,095 Developer Fees 4,150,000 Interest Costs 1,900,299 47,459,518

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SLIDE 7

L E ASE T E RMS

  • Pro po sa l o f a 99-ye a r la nd le a se with the Co unty so the de ve lo pme nt q ua lifie s fo r

F HA HUD fina nc ing

  • Upfro nt c a pita lize d le a se pa yme nt o f $350,000
  • Annua l le a se with Co unty = $100,000 pe r ye a r + 50% o f pro je c t c a sh flo w.
  • Ye a r 1 e stima te d to ta l $120,144
  • Ye a r 2 e stima te d to ta l $135,185
  • Ye a r 3 e stima te d to ta l $170,427
  • Ye a r 4 e stima te d to ta l $195,866
  • Ye a r 5 e stima te d to ta l $201,509
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SLIDE 8

615 N. Andre ws Ave nue - Wisdo m Villa g e F

  • rt L

a ude rda le T urnsto ne De ve lo pme nt Co rpo ra tio n

600 N. ANDRE WS OUR VI SI ON

E ye c a tc hing b uilding Attra c tive urb a n stre e tsc a pe Multi use live / wo rk b uilding Co mmunity pa rtne rship Susta ina b ly de sig ne d/ b uilt T ra nsit o rie nte d Co mmunity g a te wa y

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SLIDE 9

OUR VI SI ON DE L I VE RS

  • 150 a ffo rda b le ho using units to ho use ho lds e a rning up to 120% o f Are a Me dia n

I nc o me ,

  • Building de nsity tha t fits with the ne ig hb o rho o d,
  • Unit size s tha t a re truly liva b le a nd pro vide a mple spa c e fo r a va rie ty live / wo rk

a rra ng e me nts,

  • 20 a dditio na l c o mmute r pa rk a nd ride spa c e s lo c a te d o n the pro po se d Wa ve

lig ht ra il line ,

  • 2,195 sq . ft. o f re ta il/ c o mme rc ia l spa c e s fo r c o mmunity- b a se d b usine sse s,
  • Co mmunity re le va nt de sig n b ridg ing the F

la g e r Arts a nd T e c hno lo g y Distric t a nd the Sistrunk Pla nning Co rrido r,

  • Susta ina b le b uilding b uilt to the F

lo rida Gre e n Building Co de , a nd

  • L
  • c a l hiring , pro je c t pa rtic ipa tio n a nd ma rke ting drive n b y F
  • rt L

a ude rda le Co mmunity Ce nte r.

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SLIDE 10

600 N. ANDRE WS AVE NUE

Co nc re te c o nstruc tio n Po st-te nsio ne d flo o r syste ms Aluminum fra me d windo ws a nd do o rs Impa c t re sista nt g la ss Hig h e ffic ie nc y me c ha nic a ls Gre e n Ro o f E ne rg y Sta r a pplia nc e s L

  • w-flo w wa te r fixture s

Co lla b o ra tive a ppro a c h o f de sig n with City a nd Co unty input

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SLIDE 11

600 N. ANDRE WS AVE NUE

T YPICAL F L OOR PL AT E

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SLIDE 12

BUI L DI NG F E AT URE S/ AME NI T I E S

  • 150 ho using units: 2 studio , 122 o ne -b e dro o m, 24 two -b e dro o m, a nd 2 thre e -b e dro o m

units (c a n mo dify unit mix thro ug h ma rke t study/ Co unty g o a ls),

  • L

a rg e r unit size s tha t c a n a c c o mmo da te a va rie ty o f live / wo rk a rra ng e me nts,

  • 170 pa rking spa c e s, inc luding 20 pa rk a nd ride spa c e s with se pa ra te de sig na te d

e ntra nc e / e xit,

  • Susta ina b le pro je c t F

lo rida Gre e n Building Co de a nd will fe a ture a g re e n ro o f, lo w flo w wa te r fixture s, e ne rg y sta r a pplia nc e s a nd hig h e ffic ie nc y me c ha nic a l syste ms,

  • T

ra nsit o rie nte d de ve lo pme nt o n pro po se d Wa ve lig ht ra il line , 12 b ic yc le pa rking spa c e s, 20 pa rk a nd ride spa c e s

  • Uniq ue urb a n de sig n a nd we lc o ming stre e tsc a pe inc luding te na nt a me nitie s a nd g ro und

flo o r c o mme rc ia l spa c e to e nlive n stre e tsc a pe a t 6th a nd Andre ws Ave nue s

  • Upsc a le b uilding a me nitie s inc luding swimming po o l, la ndsc a pe d ro o f te rra c e a nd fitne ss

c e nte r

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SLIDE 13

PROJE CT HI GHL I GHT S – UNI T SI ZE / DE NSI T Y

  • Our de sig n fe a ture s la rg e r units tha n o the r pro po se rs.
  • T

ypic a l o ne b e dro o m unit a ppro xima te ly 700 sq ua re fe e t o f living spa c e .

  • T

ypic a l two b e dro o m unit a ppro xima te ly 1,000 sq ua re fe e t.

  • L

a rg e r unit size s c a n a c c o mmo da te a va rie ty o f live / wo rk a rra ng e me nts.

  • Building ma ssing de sig ne d to c o mple me nt mo re de nse de ve lo pme nt o n Andre ws

Ave nue while no t o ve rwhe lming e xisting sma lle r sc a le de ve lo pme nt e a st o f site .

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SLIDE 14

T YPI CAL 1 AND 2 BE DROOM UNI T S

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SLIDE 15

UNI T MI X AND RE NT AL F E E S

  • 150 a ffo rda b le ho using units
  • 2 – 530 sq ua re fo o t studio a pa rtme nts. Re nt = $1,475
  • 122 – 720 sq ua re fo o t o ne b e dro o m a pa rtme nts. Re nt = $1,581
  • 24 – 1,028 sq ua re fo o t two b e dro o m a pa rtme nts. Re nt = $1,895
  • 2 – 1,150 sq ua re fo o t thre e b e dro o m a pa rtme nts. Re nt = $2,159
  • All units c a n suppo rt a va rie ty o f live / wo rk a rra ng e me nts
  • All units fe a ture re nts lo we r tha n ne ig hb o rho o d ma rke t ra te
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SLIDE 16

PROJE CT HI GHL I GHT S – SUST AI NABI L I T Y

  • Utilizing the F

lo rida Gre e n Building Co de - a ho listic a ppro a c h to susta ina b ility inc luding b uilding ma te ria ls, c o nstruc tio n pra c tic e s, disa ste r mitig a tio n, la nd use a nd susta ina b le b uilding fe a ture s

  • E

a c h ho using a nd c o mme rc ia l unit a nd a ll c o mmo n spa c e s will fe a ture E ne rg y Sta r Applia nc e s, lo w flo w wa te r fixture s a nd e ne rg y e ffic ie nt lig hting ,

  • Building fe a ture s a g re e n ro o f a nd hig h e ffic ie nc y me c ha nic a l syste ms
  • T

e a m ha s e xte nsive e xpe rie nc e in susta ina b ility – c urre nt pro je c t Wisdo m Villa g e F

  • rt

L a ude rda le (615 N. Andre ws Ave nue ) utilizing F lo rida Gre e n Building Co de

  • Our pro je c t truly ma ximizing susta ina b ility fe a ture s while ke e ping c o sts lo w
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SLIDE 17

PROJE CT HI GHL I GHT S – COMMUNI T Y COMMI T T ME NT

  • Pro ve n c o mmitme nt to lo c a l hiring a nd pro mo tio n o f lo c a l b usine sse s.
  • Building o n o ur suc c e ssful lo c a l hiring a nd b usine ss pro g ra m a t 615 N. Andre ws whe re

lo c a l utiliza tio n is 30%.

  • We c o mmit to e nsuring a t le a st 25% o f pro je c t c o sts a re c o mmitte d to lo c a l

b usine sse s a nd lo c a l hiring .

  • F
  • rt L

a ude rda le Co mmunity Ce nte r – a pilla r in the F

  • rt L

a ude rda le Co mmunity – will le a d o ur d ive rsity, lo c a l utiliza tio n a nd ma rke ting e ffo rts.

  • T

hro ug h o ur stra te g ic pa rtne rship with F

  • rt L

a ude rda le Co mmunity Ce nte r, we c o mmit to hire wo ma n, mino rity a nd ve te ra n o wne d b usine sse s (W/ M/ DBE ).

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SLIDE 18

600 N. Andre ws Ave .

  • Pro ve n
  • Ac c o unta b le
  • F

le xib le

  • Re spo nsive
  • Co nne c te d to Co mmunity
  • Que stio ns?