Redevelopment Projects & Renovations Updated: June 11th, 2015 - - PowerPoint PPT Presentation

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Redevelopment Projects & Renovations Updated: June 11th, 2015 - - PowerPoint PPT Presentation

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Redevelopment Projects & Renovations Updated: June 11th, 2015 Diane Higley Jessica Vogt Economic Development/ Event Economic Development/ Event Planning Intern Planning Intern NC State Class of 2015 NC State Class of 2016

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SLIDE 1

Redevelopment Projects & Renovations

Updated: June 11th, 2015

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SLIDE 2

Diane Higley

  • Economic Development/ Event

Planning Intern

  • NC State Class of 2015
  • Parks, Recreation Tourism
  • Sport Management
  • From Chicago, IL
  • Economic Development/ Event

Planning Intern

  • NC State Class of 2016
  • Business Administration
  • Operations and Supply Chain Mgmt.
  • From Syracuse, NY

Jessica Vogt

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SLIDE 3

Introduction

  • Hillsborough Street is a flourishing community
  • Raleigh’s one of the fastest growing cities in America*
  • Continues to attract new businesses and residents
  • The Goal is to show redevelopment changes through numerical data.
  • Figures and Data have been updated from previous presentation.

* http://www.forbes.com/pictures/edgl45emig/no-1-raleigh-nc-metropolitan-statistical-area/

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SLIDE 4

Hillsborough Street Business Improvement District

Development Projects within the BID

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SLIDE 5

Economic Development Summary

Within the BID Total (in Millions)

  • Completed since Creation of the BID
  • Proposed, Planned, or Under Construction
  • Commercial Upfits since Creation of the BID
  • Public Infrastructure Improvements
  • Total
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SLIDE 6

Hillsborough Street

Within the BID Symbol

  • Completed since Creation of the BID
  • Proposed, Planned, or Under Construction
  • Public Infrastructure Improvements

Phase 1 Phase 2

  • BID Outline

#

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Economic Development Projects within the BID

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SLIDE 7

1 2 3 4 5 6 7

Completed Projects inside the BID

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SLIDE 8

Total: $149.4 M

Completed Projects inside the BID

Map Projects Est Cost In Millions Status

1 Nehi Building $2.5 M Completed in 2014 2 2604 Apartments $2.5 M Completed in 2013 3 Valentine Commons $80 M Completed in 2012 4

  • 927. W Morgan

$40 M Completed in 2012 5 DoubleTree/Brownstone $5 M Completed in 2012 6 North Hall Renovation $2.4 M Completed in 2011 7 Alexander YMCA $17 M Completed in 2008

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SLIDE 9

H G C D F J

Upcoming Redevelopment Projects inside the BID

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Total: $169.1 M

*Planned Proposals have been submitted but ground has not been turned

Upcoming Redevelopment Projects inside the BID

Map Projects Est Cost in Millions Status A Compiegne Park Apartments (2304 Hillsborough St.) $4.5 M Planned* B Meredith Heights (3400 Block of Hillsborough St.) $12 M Planned* C Hillsborough Square Apartments (1912 Hillsborough St.) $8 M Planned* D 1301 Ashe Apartments $5 M Underway E Hillsborough Lofts (2504, 2506, 2508 Hillsborough St.) $16 M Underway F 2811 Hillsborough Apartments $5 M Underway G Aloft Hotel (2100 Hillsborough St.) $25 M Underway H Stanhope Center (2408 Hillsborough St.) $78 M Underway I 105 Friendly Apartments $6 M Underway J Gregg Museum (1903 Hillsborough St.) $9.6 Underway

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SLIDE 11

Commercial Upfits inside the BID

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Commercial Upfits inside the BID (Page 1 of 2)

Project Size Project Name Estimated Cost Status Small* Freshberry $100,000 Complete David’s Dumplings $100,000 Complete Other (3) $300,000 Medium* Subway (Belltower) $250,000 Complete Old Amore’s Pizza $250,000 Complete Jersey Mike’s $250,000 Complete Bluetique $250,000 Complete Goodnight’s Comedy Club $250,000 Complete Freshii $250,000 Complete Groucho’s $250,000 Complete

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SLIDE 13

Kk Total: $6.8 M

* Figures are an approximation and include “others” to account for renovations that may have been overlooked.

Commercial Upfits inside the BID (Page 2 of 2)

Project Size Project Name Estimated Cost Status Medium* Two Guys/The Keg $250,000 Complete Needle Point $250,000 Complete Shabaz Hookah $250,000 Complete Abahz Grocery $250,000 Complete Saxby’s $250,000 Complete Other (3) $750,000 Large* PJ Werth’s $500,000 Complete Chipotle $500,000 Complete Raleigh Brewing Company $500,000 Complete Classroom Electric Company Building $750,000 Complete

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Total: $25 M

Public Infrastructure Improvements inside the BID

Project Est Cost in Millions Status Hillsborough Streetscape Phase II $13 M Underway Hillsborough Streetscape Phase I $12 M Completed

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Within the BID Symbol Total

  • Completed since Creation of the BID

$149.4M

  • Proposed, Planned, or Under Construction

$169.1 M

  • Commercial Upfits since Creation of BID

(not pictured) $6.8 M

  • Public Infrastructure Improvements

Phase 1 Phase 2 $25 M

  • BID Outline
  • Total

$350.3 M

#

abc

Economic Development Projects within the BID

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SLIDE 16

Outside the Hillsborough Street Business Improvement District

Development Projects near the BID

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Economic Development Summary

Within the BID Total (in Millions)

  • Completed since Creation of the BID

$149.4 M

  • Proposed, Planned, or Under Construction

$169.1 M

  • Commercial Upfits since Creation of the BID

$6.8 M

  • Public Infrastructure Improvements

$25 M Outside the BID

  • On Campus near the BID
  • Private Sector near the BID
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SLIDE 18

Sectors #of Projects Symbol

  • Hillsborough Street

17

  • On Campus

25

  • Off Campus Sector

8

  • Public Infrastructure Improvements

Phase 1 Phase 2 2

  • BID Outline
  • Development Projects inside & near the BID
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SLIDE 19

14 19 25 16 20

Projects On NC State Campus near the BID

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Projects On NC State Campus near the BID (Page 1 of 2)

Map Projects

  • Est. Cost in Millions

Status

1 Energy Performance Renovation $10 M Proposed (Ant. Start Date 2017) 2 Patterson Business Center Reno. $2 M Proposed (Ant. Start Date 2016) 3 Daniels Hall $4.5 M Planned 4 Gardner Hall $2 M Planned 5 Harrelson Hall Demolition $3.5 M Design contract underway 6 Cox Hall (Scale Up) $1.875 M SD/DD Review Underway 7 Winston Hall HVAC $1 M CD Production Pending 8 CBC Flex Building $10 M Underway 9 Carmichael Gym Lockers $7.6 M 0% construction completed 10 Reynolds Coliseum $35 M 1% construction completed 11 CVM Anatomy Lab $1.75 M 2% construction completed 12 Ricks Hall $3.64 M 30% construction completed 13 D.H. Hill Upgrade $922K 29% construction completed

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* Tentative Estimates Pending Review Total: $427.187 M

Projects On NC State Campus near the BID (Page 2 of 2)

Map Project

  • Est. Cost in Millions

Status

14 Talley Student Center Addition and Renovation $122 M 98% construction completed 15 Lee and Sullivan Hall $6 M Completed in 2013 16 Yarbrough/Cates Steam Plant $77 M Completed in 2012 17 West Lot Parking Deck $7.5 M Completed in 2011 18 Veterinary School Renovation $64 M Completed in 2011 19 Park Shops Renovation $6 M Completed in 2009 20 SAS Hall $32 M Completed in 2009 21 NCSU Doak Baseball Field $6 M Completed in 2003 22 Cox/Dabney Renovation $16.9 M Completed 23 Bragaw Renovation $6 M Completed

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Total: $2 M

Meredith College Redevelopment Projects

Map Project

  • Est. Cost in Millions

Status

24. Athletic Facility*

  • Complete

25. Senior Housing* $2 M** Complete

*Tentative Estimates Pending Review **http://www.bizjournals.com/triangle/print-edition/2011/12/02/meredith-plotting-future-but-wont-be.html?page=all

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SLIDE 23

5 6 4 7

Private Sector Projects near the BID

8 5

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Total: $139.6 M

Private Sector Projects near the BID

Map Projects

  • Est. Cost in Millions

Status 1 Ridgewood Apartments

  • Proposed

2 Cameron Village Rite-Aid

  • Proposed

3 Glover Lane Apartments

  • Planned

4 616 Oberlin $40 M Planned 5 401 Oberlin $49 M Completed 6 Crescent Cameron Apartments $45 M Completed 7 Cameron Village Chick-Fil-A $5.6 M Completed 8 YMCA Aquatic Center (Interior Renovation) -- Completed

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Total: $917.1 M

Economic Development Summary

Within the BID Total (in Millions)

  • Completed since Creation of the BID

$149.4 M

  • Proposed, Planned, or Under Construction

$169.1 M

  • Commercial Upfits since Creation of the BID

$6.8 M

  • Public Infrastructure Improvements

$25 M Outside the BID

  • On Campus near the BID (NC State & Meredith)

$427.2 M

  • Private Sector near the BID

$139.6 M

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Sectors #of Projects Symbol Total

  • Hillsborough Street

17 $325.3 M

  • On Campus

25 $427.2 M

  • Off Campus Private Sector

8 $139.6 M

  • Public Infrastructure Improvements

Phase 1 Phase 2 2 $25 M

  • BID Outline
  • Grand Total

$917.1M

Development Projects inside & near the BID

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Acknowledgements

  • Blake Hall
  • Brian Wallace – York Properties
  • Cary Joshi
  • David Brown – J. Davis Architects
  • Ed Scofienza – The Site Group
  • Joe Whitehouse – Creative Urban Environments
  • Will Gaskins – Hillsborough St. CSC
  • Mack Paul – Morningstar Law Group
  • Mike Longmire – Risk Management Associates
  • Ralph Recchie – NCSU
  • Rick Baker – Baker Engineering Inc.
  • Ted Van Dyk – New City Design
  • Toby Hinkle – New City Design
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SLIDE 28

Questions?

Please Email: will@hillsboroughstreet.org