TURNER COMMERCE CENTER Economic Development & Finance Standing - - PowerPoint PPT Presentation
TURNER COMMERCE CENTER Economic Development & Finance Standing Committee April 29, 2019 NORTHPOINT DEVELOPMENT At a Glance 62 MM SF $5.0 BILLION INDUSTRIAL SPACE DEVELOPED TOTAL CAPITAL RAISED & MANAGED SINCE 2012 SINCE 2012 11.7 MM SF
Economic Development & Finance Standing Committee
April 29, 2019
ECONOMIC DEVELOPMENT & FINANCE STANDING COMMITTEE : April 29, 2019
At a Glance
References available from our clients; a few are represented below
INDUSTRIAL SPACE DEVELOPED & MANAGED SINCE 2012
TOTAL CAPITAL RAISED SINCE 2012
INDUSTRIAL SPACE CURRENTLY UNDER CONSTRUCTION
INDUSTRIAL SPACE LEASED IN 2018
ECONOMIC DEVELOPMENT & FINANCE STANDING COMMITTEE : April 29, 2019
435 169 69 24 169 71 69 71 50 24 45 9 152 291 210 78 40 350 9 32 7 10 150 291 435 435 435 29 35 35 635 35 70 435 35 70 470 49
Parkville Gladstone Riverside North Kansas City Independence
KANSAS CITY KANSAS CITY
Shawnee Mission Hills Overland Park Leawood Raytown Lee’s Summit Grandview Olathe Bonner Springs
M I S S O U R I K A N S A S KANSAS CITY INTERNATIONAL AIRPORT
Project Overview
ECONOMIC DEVELOPMENT & FINANCE STANDING COMMITTEE : April 29, 2019
Project Aerial, New Infrastructure
ECONOMIC DEVELOPMENT & FINANCE STANDING COMMITTEE : April 29, 2019
Project Aerial, Masterplan
BUILDING 2 ±541,000 S.F. BUILDING 5 ±487,000 S.F. B U I L D I N G 6 ± 3 3 , S . F . BUILDING 4 ±216,000 S.F. BUILDING 3 ±230,000 S.F. B U I L D I N G 1 ±388,000 S.F.
DET DET DET DET D E T DET DET DET DET
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Tauromee Ave Tauromee Ave
B U I L D I N G 8 ±300,000 S.F. BUILDING 7 ± 2 4 4 , S . F .
DET
PRIVATE CAPITAL INVESTMENT
$155M
JOBS
± 1,833
INFRASTRUCTURE
$30M
PROJECTOVERVIEW
ECONOMIC DEVELOPMENT & FINANCE STANDING COMMITTEE : April 29, 2019
Industrial Building Examples
Riverside Horizons III Riverside Horizons II Riverside Horizons II
ECONOMIC DEVELOPMENT & FINANCE STANDING COMMITTEE : April 29, 2019
Logistics Park Kansas City Logistics Park Kansas City Logistics Park Kansas City
Industrial Building Examples
ECONOMIC DEVELOPMENT & FINANCE STANDING COMMITTEE : April 29, 2019
Community Impact
Capital Investment of $50M and above Development in a distressed area Minority, women and locally owned business participation Environmental design / sustainable development
ECONOMIC DEVELOPMENT & FINANCE STANDING COMMITTEE : April 29, 2019
Regional Demographic Attributes
Income and home values surrounding Turner Commerce Center in Kansas City, KS are signifjcantly less than the State. Additionally, the region exhibits higher unemployment and up to 21% of the County population is under the poverty line.
Area Unemployment Rate Industrial Workforce Underemployment Adult Population (Ages 25+) Without a High School Diploma Median Household Income Percent Poverty Median Home Value
Radius from Turner Commerce Center:
5 Minute Drive Time 5.1% 30 18.8% $23,262 41.4% $102,288
Radius from Turner Commerce Center:
10 Minute Drive Time 6.1% 1,028 15.7% $43,390 19.3% $107,948
Radius from Turner Commerce Center:
20 Minute Drive Time 5.4% 9,559 15.1% $48,137 18.4% $142,717 Wyandotte County 4.8% 5,901 21.5% $43,350 21.7% $102,020 Kansas 3.4% 88,970 10.0% $56,415 12.9% $145,367 United States 3.9% 189,812 13.3% $58,754 14.7% $201,842
SELECTED DEMOGRAPHIC ATTRIBUTES, 2018
Source: Experian, U.S. Census Bureau Underemployment represents individuals currently employed in a profession, having less than full-time, regular or lower-paying employment than warehouse-related.
ECONOMIC DEVELOPMENT & FINANCE STANDING COMMITTEE : April 29, 2019
Elevated Regional Underemployment and Poverty
Source: Experian, U.S. Census Bureau Underemployment represents individuals currently employed in a profession, having less than full-time, regular or lower-paying employment than warehouse-related.
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Source: Experian, U.S. Census Bureau Underemployment represents individuals currently employed in an occupation, having less than full-time, regular or lower-paying employment than warehouse-related.
RATIO: INDUSTRIAL WORKFORCE UNDEREMPLOYMENT PER 1,000 EMPLOYED
by Census Blockgroup, 2018
PERCENTAGE OF POPULATION BELOW POVERTY LINE
by Census Blockgroup, 2018
ECONOMIC DEVELOPMENT & FINANCE STANDING COMMITTEE : April 29, 2019
Elevated Regional Underemployment and Lower Educational Attainment
Source: Experian, U.S. Census Bureau
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ADULT POPULATION (AGES 25+) WITHOUT A HIGH SCHOOL DIPLOMA
by Census Blockgroup, 2018
UNEMPLOYMENT RATE
by Census Blockgroup, 2018
ECONOMIC DEVELOPMENT & FINANCE STANDING COMMITTEE : April 29, 2019
Lower Median Household Income and Home Values
Source: Experian, U.S. Census Bureau
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MEDIAN HOUSEHOLD INCOME
by Census Blockgroup, 2018
MEDIAN HOME VALUE
by Census Blockgroup, 2018
ECONOMIC DEVELOPMENT & FINANCE STANDING COMMITTEE : April 29, 2019
Project Timeline
JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER JANUARY FEBRUARY MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER
BUILDING 1 INFRASTRUCTURE 2019 2020 It is anticipated the design/builder will be on board this fall and construction will be completed by November 30, 2020.
ECONOMIC DEVELOPMENT & FINANCE STANDING COMMITTEE : April 29, 2019
Deal Points
INDUSTRIAL REVENUE BONDS
PAYMENT IN LIEU OF TAXES (PILOT) PAYMENTS
MINIMUM BUILDING REQUIREMENT