PERIMETER: The Premier Office Market in Metro Atlanta PCIDs - - PowerPoint PPT Presentation

PERIMETER:

The Premier Office Market in Metro Atlanta

PCIDs Standard Template; Updated: Oct 03, 2013

EVOLUTION OF THE MARKET

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Farm Land 1960s I-285 Opened 1969 Suburbs/ Perimeter Mall early 1970s Congested Office District 1990s Livable Center Sustainable Placemaking

THEN & NOW

• Primarily a corporate office,

shopping and hotel district

• Disconnected by design
• Heavy traffic congestion
• Few connections and gateways

across major highways

• Limited pedestrian mobility
• No ADA-compliant street crossings
• Under developed property
• Lack of multi-use developments
• Insufficient housing to jobs ratio
• Large surface parking lots and

“super blocks”

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PERIMETER 30 YEARS AGO…

MOVING FROM SUBURBAN TO URBAN

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• MIXED-USE DEVELOPMENTS with significant new

housing built on vacant lots & parking lots

• Transition of OUTDATED OFFICE PARKS TO

RESIDENTIAL

• New developments at HIGHER DENSITIES
• Implementation of PUBLIC SPACE STANDARDS

(*Source: Wikipedia 2011)

The PCIDs are leading the changes to keep this market strong!

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WHAT IS A CID?

CIDs in Georgia are created by the state legislature and adopted by local

• governments. They are quasi-governmental

and self-taxing for purposes of infrastructure and other improvements in a defined geographic area.

ONLY commercial property

• wners pay the additional tax

millage, not residents.

@ THE CENTER OF SUCCESS: PERIMETER COMMUNITY IMPROVEMENT DISTRICTS

PCIDs work cross- jurisdictionally with 5 local governmental partners (Sandy Springs, Dunwoody, Brookhaven, DeKalb County & Fulton County,) as well as state and federal elected

• fficials and agencies

to achieve successful results.

PCIDs and their partners make a difference in the lives of Perimeter’s workers, residents and visitors through transportation improvements that encourage connectivity and access.

• $236.6 Million in tax revenues to the State of Georgia (2014)
• City of Dunwoody: 63.4% net fiscal impact on budget
• City of Sandy Springs: 26.4% net fiscal impact on budget
• City of Brookhaven: 7.1% net fiscal impact on budget

CID dollars can only be used for certain purposes as indicated by their individual State Legislation and local agreements.

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THE IMPACT OF THE PCIDs

Source: Balmoral Group 2015

PERIMETER SUBMARKET STATISTICS

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Source: Balmoral Group 2015

• 33 million-square feet of
• ffice space

(total square footage comprises all office, office condominium, office loft,

• ffice medical, all classes and all sizes and both multi-tenant and single-

tenant buildings including owner-occupied buildings)

• 85% of market space occupied
• 10,458 companies
• 134,650+ employees
• $5.1 billion

commercial real estate value

Both small businesses and Fortune 500 Companies call Perimeter

• home. Companies moving, expanding or renewing in the

Central Perimeter market over the last few years include:

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PERIMETER: THE LOCATION OF CHOICE

Sources: Balmoral Group 2015

• Air Watch
• AutoTrader.com
• Chep
• Cox Enterprises
• Convergent Resources
• Crawford & Company
• First Data Corp.
• Focus Brands
• IBM
• IHG
• JAS Forwarding USA
• Mercedes Benz USA
• Newell Rubbermaid
• Oldcastle
• State Farm
• T-Mobile
• UPS

And many more!

CENTER OF HEALTH & WELLNESS

The Perimeter market offers easy access to some of the nation’s best health care. Major hospitals in Perimeter include:

• Children’s Healthcare of Atlanta at

Scottish Rite

• Emory/St. Joseph’s
• Northside Hospital
• Piedmont Heart Institute

These world-class medical facilities represent a $3.04 billion annual economic impact on the Metro Atlanta region.

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Source: Glenn Pearson, Executive Vice President, Georgia Hospital Association

16 Year History of Leverage

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Source: RCLCO 2009 and Balmoral Group 2015

$41.7 million = CID funds $914.8 million = other resources for transportation infrastructure projects

A Leverage of 22 to 1

$41.7 M 914.8 M

2015+

$31.2 million = CID funds $114.8 million = other resources for transportation and infrastructure projects

A Leverage of 3.6 to 1

$31.2 M $114.8 M

1999 - 2014

Major Gateway Investments:

Perimeter Center Parkway Bridge

Ashford Dunwoody DDI

• Completed in 2012
• $5.6 million project
• $400,000 from PCIDs
• Travel time and gas costs savings = $35.3

million over the life of the project

• 29% overall rate of return
• 30% rate of return for State’s contribution
• 318% rate of return for PCIDs contribution

Hammond Half Diamond

• Completed in 2011
• $18.6 million project
• $6.3 million from PCIDs
• Travel time and gas costs savings = $56.5 million over

the life of the project

• 15% overall annual rate of return
• 21% annual rate of return for the State’s contribution
• 32% annual rate of return for PCID’s contribution

Perimeter Center Parkway and Flyover Bridge

• Completed in 2008
• Represents first joint LCI and GRTA bond project

collaboratively funded by the ARC’s LCI grant, GRTA’s Bond Program, DeKalb County and PCID’s

• Connects Perimeter market from Perimeter Place to the

Medical Center - shopping, dining and lodging

• Pedestrian and bicycle friendly, with features including

decorative pavers and landscaped medians

• Award Winning Parkway:
• 2008 PEDS Award
• 2010 Engineering

Excellence Award

Improvements include: The project will provide enhancements to these roadways that improve safety and facilitate better traffic flow to accommodate the high volume of travelers passing through it each day. Those improvements include:

• About four miles of improvements beginning
• ne mile west of Roswell Road and ending

just east of Ashford Dunwoody Road on I-285

• Roughly five miles of improvements from just

south of the Glenridge Connector north to the Spalding Drive area on SR 400

• Construction of barrier separated collector

distributor lanes along I-285 and SR 400 to help reduce weaving, merging and accelerating/decelerating conflict

• Reconstruction of the Abernathy Road

interchange

• Replacement of the bridge at Mt. Vernon

Highway

• Reconstruction of existing ramps and bridges

in the interchange area

• New flyover bridges

What You Can Expect:

• Major construction will begin at the end
• f the first quarter of 2017
• First major improvement will be the
• Mt. Vernon bridge
• Access to all properties will be open during

construction

• Contractors are required to keep local roads open to

traffic by constructing the work in stages. It is likely that most of the work will be done at night 9:00pm – 5:00am.

• Access to GA 400 and I-285, at all interchanges, will

be open at peak commute times during construction

• The contractor will be restricted from lane closures
• n holidays and special events

For updates visit 285at400.org

PERIMETER TODAY: CONNECTED

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• Perimeter is fast becoming a

model livable center, offering residents and visitors connectivity and choice.

• Access to amenities like transit,

shopping, dining and much more make the market an attractive choice for small businesses and Fortune 500 companies.

• Pedestrian & Bike friendly
• Walkable access to 3 MARTA

stations.

• 12 business-funded free shuttles

and 13 hotel shuttles to & from MARTA stations.

• More gateway connections

underway.

PCIDs Boundary

Central Perimeter Submarket (blue)

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PERIMETER TRAFFIC OPERATIONS PROGRAM - PTOP

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• 4 year program funded by a $4 million GDOT

grant.

• Partnership between PCIDs and the cities of

Sandy Springs, Dunwoody and Brookhaven and the counties of DeKalb and Fulton.

• Includes the synchronization of 99 traffic signals

within and adjacent to PCIDs to improve traffic congestion in the Perimeter business district.

• Together with the Ashford Dunwoody DDI and

the Hammond Half-Diamond Interchange, PTOP helps to mitigate traffic and positively impact commute times.

• The new timing plans pay for themselves

approximately every 55.2 workdays.

Traffic Officer Program

• Off-duty DeKalb County, Dunwoody, Sandy

Springs and Fulton County officers direct traffic at up to thirteen (8 - Sandy Springs and 5 - Dunwoody) intersections in the Perimeter Business District during high- peak traffic times to help motorists travel safely and with ease.

• Traffic officers keep intersections clear and

do not specifically direct traffic against the synchronized signal timing.

• The traffic officers work with our signal

timing engineers and regularly communicate back and forth as they notice issues in the district.

• This project is a partnership

between PCIDs/MARTA/City of Dunwoody

• Partnership with MARTA will create

a state of the art mid-block crossing at Hammond and the Dunwoody MARTA station.

• This mid-block crossing will offer a

safer alternative for the pedestrians who are riding MARTA or who are crossing from one shopping/retail/dining area to another across Hammond Drive.

HAMMOND DRIVE AT MARTA MID-BLOCK CROSSING

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PCIDs was awarded a $4 million grant to improve the Lake Hearn @ Peachtree Dunwoody Road Intersection in partnership with the City of Sandy Springs, SRTA and ARC. Construction on the pedestrian and bike-friendly improvements are currently in the design phase.

PEACHTREE DUNWOODY ROAD @ LAKE HEARN DRIVE

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• 12 Private Office Complex Shuttles – Office

Complexes provide direct service to MARTA for their employees and guests at no charge. (Ravinia, Cox, King and Queen, State Farm, Perimeter Summit, etc.)

• 12 Private Hotel Shuttles - provided for

guests visiting their hotels here in Perimeter.

• Glenlake/Embassy Row - The partnership to

reinstate shuttle service was initially developed by the PCIDs with $30,000 seed

• money. $ 90,000 annual commitment from

Partners: UPS, Kaiser Permanente, Columbia Property Trust, Highwoods Properties, Embassy Row and Newell Rubbermaid. Currently serves 800 - 1,000 on/offs each week ≈ 400 - 500 cars off the road

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PRIVATE SHUTTLES IN PERIMETER

Glenlake Shuttle WINNER: 2011 PACE Award Most Innovative Program

PCIDs has been awarded funding is to design commuter trails between corporate campuses in the Perimeter community. Ten opportunities have been identified and PCIDs is currently working with partners to prioritize the paths. The goal of the project is to:

• Provide transportation options and improve bicycle and pedestrian

access to MARTA

• Offer mobility for non-motorized users within Perimeter
• Decrease the number of commuter car trips by increasing the utility of

MARTA for Perimeter workers and residents

Commuter Trails Project

• Approximately five acres under

Dunwoody MARTA station and adjacent to Perimeter Mall

• Vision is to create sustainable public

green space and a signature urban park within the central Perimeter area

• The park will play a vital role in the

area’s shift towards becoming a 24 hour market with true live-work--play amenities and more connectivity

PERIMETER PARK @ DUNWOODY MARTA STATION

Walkability

Sidewalks, Crosswalks and Bike Lanes

Perimeter Connects partners with employers and property managers to:

• Raise awareness of commute options
• Shift commuter behavior away from

single-occupant vehicles

• Help create a more competitive,

economically healthy, and greener Perimeter The goal of the program is to reduce demand

• n Central Perimeter roads and highways by

encouraging and rewarding:

• Transit use
• Ridesharing
• Bicycling
• Walking
• Alternative work arrangements

Perimeter Connects is funded by the Atlanta Regional Commission and PCIDs and is a member agency of Georgia Commute Options.

Perimeter’s Future

 Walkable  Bikeable  Connected  Thriving Center to Live, Work and Play  Georgia’s Fortune 500 Address of Choice

Thank you for your support!