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A presentation by:

community

transformation

diversity

vision

Presentation to the Galveston City Council July 28, 2011

McCormack Baron Salazar

Achievements

30+ Years 146 Developments 28 HOPE VI Developments, Finalists in 2 Choice Neighborhood Applications

(New Orleans, San Francisco)

35 Cities $2.4 Billion Total Investment $624 M Public Investment + $1.2 B Private Investment 16,000+ Units 1.28 M sf Retail & Commercial

Master Developer

July 28, 2011 Presentation to Galveston City Council

Urban Strategies

Achievements

30 Years Experience Nationwide Human Capital Planning in 8 Major Cities Connected to Over 5,000 Units of Housing Working in 6 HOPE VI Communities, Over 2,000 Families Supported Over $100M in Public and Private Resources Leveraged 5 Enhanced Schools Elderly Services in 10 Senior Living Communities Innovative Programs and Initiatives

Human Capital Development

July 28, 2011 Presentation to Galveston City Council

Sullivan Land Services Ltd.

Achievements

Leading Galveston-based contractor and homebuilder with long, strong history in Galveston Experience in large-scale, complex site traditional neighborhood development, and new construction and historic infill ($250M+) Experience in recovery efforts, from Galveston to Haiti ($50M+) Financially strong with $75 million in bonding capacity

General Contractor / Homebuilder

July 28, 2011 Presentation to Galveston City Council

McCormack Baron Ragan

Achievements

30+ Years Over 13,000 Apartments Managed Mixed-income, Mixed-finance Specialists Manage over 50 HOPE VI phases Manage to market rate standards with amenities, services, and resident programs that attract residents from across the income spectrum

Property Management

July 28, 2011 Presentation to Galveston City Council

Developing the Vision

July 28, 2011 Presentation to Galveston City Council

Comprehensive Community Development

July 28, 2011 Presentation to Galveston City Council

Mixed‐Income Developments Why is mixed‐income critical?

• Redevelopment is comprehensive and

transformative, with human capital development and physical development

• Allows public housing families to move up the

economic and housing ladder, and meets reported need for moderate and middle income housing for Galveston workforce

• Unlike traditional public housing, development generates net

income and is not wholly reliant on HUD operating subsidies and capital funds

Harmony Oaks, a new, mixed- income development in New

• Orleans. All apartments are fully
• ccupied. Market rate apartments

leased first, and have a substantial waiting list. Previously this community was stigmatized as one

• f the most challenged areas of

New Orleans.

July 28, 2011 Presentation to Galveston City Council

Mixed‐Income Developments

What are the keys to success?

• Leverage public and private resources to design

and construct the development to market rate

• standards. Typically $1‐$2 is leveraged for

every $1 the housing authority contributes.

• Multiple points of accountability: Developer guarantees for the

completion and performance of the development; long‐term responsibilities to the lender, investor, public agencies, community residents and stakeholders.

• Private ownership and management to market rate standards. MBS owns

the development long‐term.

• Through the human capital plan, provide residents with the services and

resources to be successful and create a community and culture of shared values, where residents are committed to the community’s long‐term success.

July 28, 2011 Presentation to Galveston City Council

Mixed‐Income Developments How do we know it works?

• 38 years of experience developing

mixed‐income communities across the country

• Communities have maintained high occupancy rates

across apartment types. Harmony Oaks, for example, is 100% occupied with a substantial waiting list for market rate units.

• Strong interest by leading financial institutions and

investors to invest in our developments. In the past two years, we have raised over $175 million in private equity and debt to support mixed‐income developments.

• We have seen mixed‐income work in communities

facing greater challenges and having access to fewer assets (educational, economic, etc.) than Galveston.

July 28, 2011 Presentation to Galveston City Council

Mixed‐Use

Above: Perspective view looking east along the Strand from potential mixed-use frontage on the primary Magnolia Homes site across to new housing on the northern side of the street.

• Mixed‐use brings activity from
• ther uses to create a lively,

active, walkable streetscape.

• Goal: Create mixed‐use

developments in strategic areas.

Above (left to right): Six North is new construction in an historic neighborhood with ground floor retail and live-work apartments. Big Brothers Big Sisters is an historic renovation in an arts district.

July 28, 2011 Presentation to Galveston City Council

Mixed‐Use

• Catalyze future

redevelopment along mixed‐use corridors.

• Opportunity to bring

New Markets Tax Credit investment to stimulate complementary commercial, retail and community development.

July 28, 2011 Presentation to Galveston City Council

Historic Connections and Preservation

• Create connections to the

surrounding communities and a seamless transition between new construction and existing neighborhoods

• Goal: capture the look and feel of historic

Galveston in quality new construction

Above: New construction at Harmony Oaks in New Orleans incorporates traditional architectural

• styles. Below: An example of a traditional

Victorian townhouse in Galveston. Canal Square Apartments demonstrates the most sensitive of historic preservation.

July 28, 2011 Presentation to Galveston City Council

Environmental Sustainability

• Sustainable features promote a

higher quality of life, reduce utility bills, and reduce impact on the environment.

• Goal: new developments will be

sustainably designed to meet LEED‐ ND standards.

This page: University Place and Renaissance Place at Grand are stage-3 certified LEED for Neighborhood Design communities

July 28, 2011 Presentation to Galveston City Council

Universal Design and Accessibility

• Goal: designs will include innovations that promote

“universal” use by residents with and without disabilities.

• Designs will balance flood plain constraints with goals

and requirements for visitability and accessibility.

This page: Photos from the 6 North universally-designed, mixed-use, mixed-income development in

• St. Louis demonstrates the principals of designing for access for everyone with all abilities.

July 28, 2011 Presentation to Galveston City Council

Transportation and Linkages to Assets

• Goal: create city‐

wide connections to major employment, education, and commercial centers.

Left: The Westin Hotel TOD in St.

• Louis. A

Memphis Trolley connects the Legends Park community with the Memphis medical district and downtown.

July 28, 2011 Presentation to Galveston City Council

Economic Development

• Section 3 “First Source” hiring process and construction training

programs.

• Connections to other area employers:

UTMB, Port of Galveston, Pelican Island, etc.

• Workforce training partnerships that prepare residents to be

successful in work.

• Collective effort by team members to meet MBE/WBE/Section 3

business participation goals.

July 28, 2011 Presentation to Galveston City Council

Human Capital Framework

• Builds from assets, and fills in gaps
• Aligns with resident and community

aspirations

• Creates the framework to move

families up the economic ladder

• Achieves an integrated and

coordinated service delivery model

Asset-Based Integrated Coordinated Utilized

July 28, 2011 Presentation to Galveston City Council

Project Timeline

Initial Predevelopment: July – October 2011 DELIVERABLES – Master Development Work

• Market study
• Resident and stakeholder engagement
• Financing plan
• Unit count, mix, types by site
• Site plan by site, building elevations, initial floorplans, development

renderings, public infrastructure plan

• Civil engineering surveys, environmental reports, historic and zoning

analyses, site acquisition analysis DELIVERABLES – Human Capital Plan

• Resident, service provider, and stakeholder engagement to determine

existing services, gaps in services, priority areas for human capital development

• Human capital plan that identifies priorities, strategies to address priorities,

partnership and funding strategies

July 28, 2011 Presentation to Galveston City Council

Project Timeline

Predevelopment: November 2011 – April 2012 DELIVERABLES

• Architectural and Engineering Construction Documents

(Permit Set)

• Construction bids and contract amount
• All local zoning, historic and public approvals
• MBE/WBE/Section 3 participation plan including Section 3 employment plan
• Financing applications and approvals (including for Low Income Housing Tax

Credits through TDHCA)

• Financial structuring, due diligence, and financing agreements with project

lenders, investor and public agencies

• HUD mixed‐finance proposal submission and approval
• Implementation of human capital plan

Targeted financial closing and start of construction on first phase: May 2012. Projected duration of construction by phase: 14‐18 months.

July 28, 2011 Presentation to Galveston City Council

Examples – From Design to Implementation

July 28, 2011 Presentation to Galveston City Council

BEFORE AFTER

Legends Park (Dixie Homes) Memphis, Tennessee

RENDERING

July 28, 2011 Presentation to Galveston City Council

Renaissance Place at Grand St. Louis, Missouri

BEFORE AFTER RENDERING

July 28, 2011 Presentation to Galveston City Council

BEFORE AFTER

Harmony Oaks (C.J. Peete) New Orleans, Louisiana

RENDERING

July 28, 2011 Presentation to Galveston City Council

Westminster Place, St. Louis, Missouri

FOR SALE HOMES AFFORDABLE APARTMENTS

BEFORE AFTER

July 28, 2011 Presentation to Galveston City Council

Centennial Place Atlanta, Georgia

BEFORE AFTER

July 28, 2011 Presentation to Galveston City Council

BEFORE AFTER

Crawford Square, Pittsburgh, Pennsylvania

July 28, 2011 Presentation to Galveston City Council

A presentation by:

Harmony Oaks

New Orleans, Louisiana

July 28, 2011 Presentation to Galveston City Council

A presentation by:

July 28, 2011 Presentation to Galveston City Council