CITY COUNCIL January 10, 2012 ALBANESE ORGANIZATION - - PowerPoint PPT Presentation

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NEW ROCHELLE CITY COUNCIL January 10, 2012 ALBANESE ORGANIZATION Russell C. Albanese George P. Aridas Chairman Executive Vice President Over Sixty Years of Development Experience o Long Term Owners o Developers of

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NEW ROCHELLE CITY COUNCIL

January 10, 2012

¡ ¡ ¡ ¡

Russell C. Albanese Chairman George P. Aridas Executive Vice President

ALBANESE ORGANIZATION

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Over Sixty Years of Development Experience

Long Term Owners
Developers of Communities not just buildings
Perspective Focused on a Longer Horizon

Demonstrated Financial Capacity

Superior Reputation with Financial Community
Recognized Design Character

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Experienced Leadership in Sustainable Development

Residential Towers

Commercial Building

Successful Participant in Public-Private Partnerships

Led initial Green Building Efforts with Battery Park City

Authority

Early Partner with Village of Garden City to Fashion

Commercial Revitalization Efforts

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¡Deep Commitment to Sustainability

¡Successful Public Private Partnerships

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REVITALIZATION GOALS for the MAIN STREET CORE

Extend revitalization south of Main Street

Raise the overall building quality through improved

design aesthetic and sustainable character

Create a Vibrant Mixed-Use Community

Replace Division Street Parking Structure
Develop neighborhood oriented retail
Improve Streetscape

¡

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REVITALIZATION GOALS for the MAIN STREET CORE

Increase Tax Base over time Address Parking Demand and Related Issues in a Holistic Manner

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REVITALIZATION DESIGN PRIORITIES

Design for Density in Context

Create a transition zone by reducing density as

development moves south from Main Street

Enliven the streetscape and pedestrian experience

Develop active uses on both sides of Division Street
Encourage pedestrian activity which provides

economic and safety benefits

Enhance street aesthetic by surrounding new

parking structures with residential development

¡

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Ensure all buildings are developed and operated in an environmentally responsible fashion Throughout the process maintain a level of parking to meet existing and new demand ¡ ¡

REVITALIZATION DESIGN PRIORITIES

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EVOLUTION of the REVITALIZATION PLAN CONCEPTS

Designation as Preferred Developer Due Diligence Activities

Engaged Third Party Marketing Study
From Study, evaluated several options
Reviewed potential options with NYS HCR
Discussed site with Lenders and Institutional Investors
Maintained continuous communication with City Staff

Presentation of Phasing Options

Convened meetings with Stakeholders

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Option B from New Rochelle RFP

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REVITALIZATION TIMING and PHASING

Important to Start the Process Now

Begin the design and review processes to anticipate

the next economic cycle

Enables the creation of a market - - staying ahead of

the demand curve

Coordinate with planning goals, but remain flexible

and agile in plans

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Phase Development to Build Momentum

Remain responsive to financial markets
Control risk to both public and private partners
Stay flexible in component sequencing while

remaining true to goals and design priorities

Maintain Broad View of Main Street Core

Integrate both sides of Division Street
Phase development in context of surrounding uses
Address Parking Issues Holistically

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Begin with structured parking on North-South axis while maintaining surface parking as well

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Concurrently develop mixed-use rental building along Division Street to begin to create the market

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Potential to add to parking structure as new demand

arises. Sequence will be guided by market and City

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To begin integrating the balance of the core, replace

existing Division Street parking structure with a modern, larger facility set back from Division and Church Streets

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When construction on replacement parking structure is

underway, begin development of residential building along Division Street with Church Street access

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To improve pedestrian experience and enliven the

streetscape, develop low-rise residential buildings to less visible impact of parking structure

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Completion of addition to Prospect Parking structure will support development of mixed use building with retail uses along Centre Avenue

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Development of Townhomes along Prospect Street complete the Main Street Core revitalization on the Division and Prospect lots

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NEW ROCHELLE CITY COUNCIL

January 10, 2012

Russell C. Albanese Chairman George P. Aridas Executive Vice President

ALBANESE ORGANIZATION

Over Sixty Years of Development Experience

Demonstrated Financial Capacity

Experienced Leadership in Sustainable Development

Successful Participant in Public-Private Partnerships

¡Successful Public Private Partnerships

REVITALIZATION GOALS for the MAIN STREET CORE

Extend revitalization south of Main Street

design aesthetic and sustainable character

Create a Vibrant Mixed-Use Community

¡

REVITALIZATION GOALS for the MAIN STREET CORE

Increase Tax Base over time Address Parking Demand and Related Issues in a Holistic Manner

REVITALIZATION DESIGN PRIORITIES

Design for Density in Context

development moves south from Main Street

Enliven the streetscape and pedestrian experience

economic and safety benefits

parking structures with residential development

¡

Ensure all buildings are developed and operated in an environmentally responsible fashion Throughout the process maintain a level of parking to meet existing and new demand ¡ ¡

REVITALIZATION DESIGN PRIORITIES

EVOLUTION of the REVITALIZATION PLAN CONCEPTS

Designation as Preferred Developer Due Diligence Activities

Presentation of Phasing Options

¡

Option B from New Rochelle RFP

REVITALIZATION TIMING and PHASING

Important to Start the Process Now

the next economic cycle

the demand curve

and agile in plans

¡ ¡

Phase Development to Build Momentum

remaining true to goals and design priorities

Maintain Broad View of Main Street Core

¡ ¡

Begin with structured parking on North-South axis while maintaining surface parking as well

Concurrently develop mixed-use rental building along Division Street to begin to create the market

Potential to add to parking structure as new demand

To begin integrating the balance of the core, replace

existing Division Street parking structure with a modern, larger facility set back from Division and Church Streets

When construction on replacement parking structure is

underway, begin development of residential building along Division Street with Church Street access

To improve pedestrian experience and enliven the

streetscape, develop low-rise residential buildings to less visible impact of parking structure

Completion of addition to Prospect Parking structure will support development of mixed use building with retail uses along Centre Avenue

Development of Townhomes along Prospect Street complete the Main Street Core revitalization on the Division and Prospect lots

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