PARCEL 6 DEVELOPMENT PROPOSAL I-195 REDEVELOPMENT DISTRICT MAY 2019 - - PowerPoint PPT Presentation
PARCEL 6 DEVELOPMENT PROPOSAL I-195 REDEVELOPMENT DISTRICT MAY 2019 truth box ARCHITECTS D+P Real Estate AND Truth Box, Inc. D+P REAL ESTATE & TRUTH BOX INC A PROVIDENCE BASED TEAM WITH A LOCAL PORTFOLIO AND EXPERTISE. COMMITTED TO
I-195 REDEVELOPMENT DISTRICT
MAY 2019
D+P Real Estate AND Truth Box, Inc.
truth box
ARCHITECTS
D+P Real Estate AND Truth Box, Inc. PARCEL 6 DEVELOPMENT PROPOSAL
D+P REAL ESTATE & TRUTH BOX INC
A PROVIDENCE BASED TEAM WITH A LOCAL PORTFOLIO AND EXPERTISE. COMMITTED TO SUSTAINABLE DEVELOPMENT IN OUR COMMUNITY AND CITY
D+P Real Estate AND Truth Box, Inc. PARCEL 6 DEVELOPMENT PROPOSAL
THE BOX OFFICE PVD - OUR HEADQUARTERS
12,000 SF COMMERCIAL DEVELOPMENT - 12 UNITS FROM RECYCLED SHIPPING CONTAINERS
D+P Real Estate AND Truth Box, Inc. PARCEL 6 DEVELOPMENT PROPOSAL
45 POP LOFTS & 125 MIDWAY CRANSTON RI
RENOVATION AND NEW CONSTRUCTION 49 UNITS ACROSS TWO BUILDINGS
D+P Real Estate AND Truth Box, Inc. PARCEL 6 DEVELOPMENT PROPOSAL
101 HILLSIDE EAST SIDE, PROVIDENCE RI
RENOVATION - 22 UNITS
D+P Real Estate AND Truth Box, Inc. PARCEL 6 DEVELOPMENT PROPOSAL
SUSTAINABILITY UNITES ALL OUR WORK
D+P Real Estate AND Truth Box, Inc. PARCEL 6 DEVELOPMENT PROPOSAL
URBAN GREENS & 95 CRANSTON RESIDENCES PROVIDENCE RI
NEW CONSTRUCTION 9,000 SF GROCERY CO-OP & 30 UNITS OF WORKFORCE AND AFFORABLE HOUSING.
D+P Real Estate AND Truth Box, Inc. PARCEL 6 DEVELOPMENT PROPOSAL
SUPPLY BOOM OF LUXURY RENTALS, MICRO-LOFTS, AND PRIVATE STUDENT HOUSING
D+P Real Estate AND Truth Box, Inc. PARCEL 6 DEVELOPMENT PROPOSAL
MEDIAN HOUSEHOLD INCOME (2017) - PROVIDENCE, RI
* Source: DataUSA:Providence, RI
SHARE
14% 12% 10% 8% 6% 4% 2% 0%
INCOME
Very Low Income
deep subsidies required including capital cost and
Low Income
served by LIHTC & Other capital cost subsidy programs
"The Missing Middle" Workforce Housing 80%-120% AMI
$150K- $200K $200K- $250K
Market Rate
Should not need subsidy
$50K- $60K $60K- $75K $75K- $100K $100K- $125K $125K- $150K $30K- $35K $35K- $40K $40K- $45K $10K- $15K $45K- $50K <$10K $15K- $20K $20K- $25K $25K- $30K
THE “MISSING MIDDLE”
D+P Real Estate AND Truth Box, Inc. PARCEL 6 DEVELOPMENT PROPOSAL
COMPETETIVE MARKET - RENTAL RANGE CHART
*101 Hillside is owned and managed by the Sponsor **LIHTC (Low Income Housing Tax Credit) Rents shown for reference only
RENT PER MONTH
$4,000 $3,500 $3,000 $2,500 $2,000 $1,500 $1,000 $500
BRs S 1 2
S 1 2 S 1 2 S 1 2 S 1 2 S 1 2 S 1 2
LIHTC RENTS RIVERHOUSE STATION ROW 95 LOFTS PROVIDENCE G 101 HILLSIDE* PROPOSED
D+P Real Estate AND Truth Box, Inc. PARCEL 6 DEVELOPMENT PROPOSAL
D+P Real Estate AND Truth Box, Inc. PARCEL 6 DEVELOPMENT PROPOSAL
BUILDING 02 - MIXED-USE
15,000 SF TOTAL / 4-STORIES 1ST FLR: MICRO-OFFICE & STUDIOS 2ND FLR: PARKING 3RD-4TH FLR: APARTMENTS
BUILDING 01 - MIXED-USE
39,000 SF TOTAL / 5-STORIES 1ST FLR: RETAIL & OFFICE 2ND-5TH FLR: APARTMENTS
GROCERY BUILDING
13,000 SF TOTAL 1ST FLR: GROCERY
D+P Real Estate AND Truth Box, Inc. PARCEL 6 DEVELOPMENT PROPOSAL
GROCERY BUILDING 02 B U I L D I N G 1
ANCHOR RETAIL 13,100 SF RETAIL / OFFICE 7,000 SF MICRO-OFFICE / STUDIO 2,900 SF RESIDENTIAL UNITS 49 TOTAL STUDIO 19 1-BEDROOM 26 2-BEDROOM 4
*50% TO BE WORKFORCE HOUSING (80-120% AMI)
ON-SITE PARKING 162 SPACES STREET PARKING 19 SPACES
PROGRAM SUMMARY
TOTAL GROSS SF: 67,000 SF
D+P Real Estate AND Truth Box, Inc. PARCEL 6 DEVELOPMENT PROPOSAL
SCHEMATIC SECTION
D+P Real Estate AND Truth Box, Inc. PARCEL 6 DEVELOPMENT PROPOSAL
FIRST FLOOR PLAN (LOWER LEVEL)
D+P Real Estate AND Truth Box, Inc. PARCEL 6 DEVELOPMENT PROPOSAL
SECOND FLOOR PLAN (UPPER LEVEL)
D+P Real Estate AND Truth Box, Inc. PARCEL 6 DEVELOPMENT PROPOSAL
UPPER FLOORS PLAN
D+P Real Estate AND Truth Box, Inc. PARCEL 6 DEVELOPMENT PROPOSAL
D+P Real Estate AND Truth Box, Inc. PARCEL 6 DEVELOPMENT PROPOSAL
D+P Real Estate AND Truth Box, Inc. PARCEL 6 DEVELOPMENT PROPOSAL
VIEW ALONG SOUTH MAIN STREET
D+P Real Estate AND Truth Box, Inc. PARCEL 6 DEVELOPMENT PROPOSAL
QUESTIONS?