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Home My WebLink AboutWS5 - 21 S. Linn Street PresentationRFP RESPONSE SUMMARY FEBRUARY 4, 2025 PROJECT BACKGROUND RFP SUMMARY RESPONSE SUMMARIES DISCUSSION 21 S. LINN STREET PUBLIC -PRIVATE REDEVELOPMENT PROCESS Feb - Jun 2024 Public Engagement Planning & Execution - ✓ COMPLETE 1. Staff develop public engagement plan for City Council approval 2. Execute public engagement plan with public/stakeholders 3. Present public engagement/input results to City Council Jun - Aug 2024 RFP Development - ✓ COMPLETE 1. Staff draft RFP based on City Council direction 2. Staff and City Council update of TIF policy 3. RFP finalized and approved by City Council in public Work Session Sep - Oct 2024 Issue RFP - ✓ COMPLETE 1. Issue RFP (60 days for response) Nov 2024 - Feb RFP Review based on previously established process 2025 Additional Public Input will be solicited on finalist proposals REQUEST FOR PROPOSALS SUMMARY 21 S. LI N N STREET RFP APPROVAL CRITERIA: The City purchased the site to facilitate private redevelopment in a manner that is in the best long-term interests of the downtown economy and larger community. Additionally, it is expected the private development will generate annual property tax income which the City can reinvest in critical public services. The purpose of this RFP is to solicit proposals from developers and development teams for the development of a contextual, mixed used, and property tax generating building on this property. The City intends to work toward conveying this property to the selected development team. As the field of developer candidates narrows, proposals will become more detailed and refined REVIEW PROCESS RFP Response Finalist Development Agreement GRAND RAIL DEVELOPMENT 21 S. LINN STREET City of Iowa City GRAND RAIL Venture One LLC PROPOSAL • Mid -Rise (6 story) building with steel Grand Rail Development Urban Acres Real Estate frame construction - L E E D Silver Jake Evans Mike Balls. REALTOR• Senior Project Manger & Municipal Liaison Chief Financial Officer Venture One Partner • Building composition. Owner Venture One Partner • Kenzie Evans Ground : 6, 3 0 0 sf entertainment use Cust� Relations z` Coordinator & Project a 3 upper floors of commercial office Liaison Caleb Walton ' • Project Manger • 2 upper floors of residential (4 une�M�cafs •�••••�•• affordable units & 16 market -rate units) • $21.5m total valuation OPN Architects Axiom Consultants • Rob Decker. MSE. CDT. CPG 3 m lot purchase with no additional Justin Bishop. AIA Engineering Project Manager Principal -in -Charge subsidy (unless requested by tenants) James Kincade. PE Civil l ead Sophie Donta. AIA Architect Joe Lomheim. PE Mechanical. l ead 1 9 Zack Writer. AIA (1 Kevin McLaughlin. PE Architect Electrical l ead Justine Siglin. PE St`uttx=1_: aad "SIT - 49 MAML z-4 Washington Street Elevation Linn Street Elevation L � 5 f 5 ! STORAGE 1 r l 1 1 1 5 1 1 r 1 f �nnmrn 1 r ! L SECURE L TEI:4NT BICYCLE 5 ! ;T,R==__ PARKING 1 ! MEACHANICAIi r 1 LIP ELEY MACH PARKING 1,K[1111LW ` BASEMENT PARKING EXtSMG UNDERGROUND TRAN.^,FORMERS PARIIVG ENTRY � f f TRASH LOAD 1 ! I L / I / L ! I mmn 5 / I L f I L / I L RESTR I I I SHAFT I I I $ 1 0 0 I ENTERTA NWNT I ITGVO SF wo iur ■u� FOURTH IFIFTH/SIXTH Q 0 r-1 0 0 0 0 0 0 � ICEBERG DEVELOPMENT 21 S. LINN STREET 15 ICEBERG PROPOSAL • 13-story building with concrete/steel frame construction • Building composition: • Ground: 27000sf micro -retail and 3/800 sf restaurant, retail, or entertainment • 5 upper floors of commercial office • 7 upper floors of residential (76 affordable senior units - LIHTQ • $24m total valuation • $2m lot purchase with $7m-$10m TIF subsidy over 8-12 yrs (depends on LI HTC award) LEAD DEVELOPER ICEBERG DEVELOPMENT GROUP, LLC. JIM BERGMAN 7152 ELDORADO POINTE WEST DES MOINES, IA 50266 563.505-5611 LEGAL ENTITY / OWNER SOLE PURPOSE LLC TBD YM BERGMAN CONSTRUCTION MANAGER ARCHITECT REAL ESTATE SERVICES+ PROPERTY MANAGEMENT HODGE CONSTRUTION SLINGSHOT CBRE ANDY HODGE STEVE MILLER AN 711 5 GILBERT ST. 103 E COLLEGE ST. #102 RILEY 595 S 60T0TH SST. T. STE 245 IOWA CITY, IA 52240 IOWA CITY. IA 52240 WEST DES MOINES, IA 50266 319-354-2233 319-569-6772 515-224-4900 i STRUCTURAL CIVIL $ MEPT BLANDSCAPE IMEG MCCLURE 2M 106TK ST. 335 SE ORALABOR RD. u RBANDALE- L4 50322 ANKENV, IA 50021 515-334-9906 515-964-1229 Uii JNI ITECTURE soon soon NONE soon mmmm RENDERING OF SOUTH ELEVATION RENDERING OF EAST ELEVAT mif*WNWW sommisms 1117ormove MEMEMEME THE RISE 15 STORIES PLAZA TOWERS _. 14 STnR1ES T �� 11 PROGRAM LEGEND N RESTAURANT/LIVE MUSIC VENUE OR ANCHOR RETAIL (3030 GSF) ❑ MICRO -RETAIL (1,950 GSF) ❑ CITY OFFICE (28.120 GSF) ❑ RESIDENTIAL (81,064 GSF) Q ACT OFFICE (33.660 GSF) ❑ CIRCULATION ❑ BUILDING UTILITY/SUPPORT SPACE PARK @ 201 14 STORIES HISTORIC HOTEL JEFFERSON 8 STORIES -,-_ VOGEL HOUSE 7 STORIES 7 L INN 7 STORIES SRARED TRASR/ RECYCLING 2 0 III u N 2 ELEC. w S GENERATOR N MDF w a MAIOFF ICEE 3 a MMICRORETAIL N fi00 NSF MICRO RETAIL 69D NSF MICRO RETAIL 700 NSF OFFICE LOBBY ELEV, I ELEV. I ELEV. I I - Z4*u9l4-At RESTAURANT/LIVE MUSIC VENUE OR ANCHOR RETAIL I I I COURTYARD 1.150 NSF i i i GROUND LEVEL PLAN CONCEPT LEVEL -- + - I CITY OFFICE COMMUNITY COMMUNITY 1-BEDROOM PATIO ROOM & AMENITY rY F N 660 NSF EDROOM 900 NSF 2-BEDROOM 660 NSF 1-BEDROOM g 660 N`- 900 NSF 2-BEDROOM ELEV. ELFV 645 NSF BEDROOM STA 2.000 NSF 2-BEDROOM 810 NSF BEDROOM 620 NSF 2-BEDROOM 810 NSF 2-BED ROOM 620 NSF OUTDOOR PLANTINGS :aMi L_ 810 NSF =' EL 41 AFFORDABLE HOUSINrl 2-BEDROOM 1-BEDROOM 160 NSF TRASH 1-BEDROOM �c NSF 2-BEDROOM 660 NSF 1-BED ROOM 660 NSF Ns- 2-BEDROOM 845 NSF 2-BEDROOM ]-BEDROOM 810 NSF 2-BEDROOM 620 NSF 1-BED ROOM 810 NSF 620 NSF tM2-BEDROO 910 NSF '_EVE_ 5-10 I AFFORDABLE HOUSIN` LEVEL 114-3 I ACT OFFICE SALIDA PARTNERS 21 S. LI N N STREET 23 SALIDA PROPOSAL • 10-story building with mass timber construction - LEED Silver • Building composition: • Ground: 6,900sf flex entertainment, kitchen, 1,500sf micro -retail, art alley • 4 upper floors of mixed commercial • 5 upper floors of residential (26 market -rate, 6 affordable, and 14 short- term stay units) • $37m total valuation • $1.00 lot purchase with $12m-$16m TIF subsidy over 15-20 yrs + $1-5m gap STEVE LONG SALIDA PARTNERS MAIN POINT OF CONTACT stetiepsal idapartners,can 319.621.3462 SISIMONS PERRINE MOYER BERGMAN Pu, MATTHEW HEKTOEN LEGAL COUNSEL mhelaoenpspm blm.com 319,B%.4030 SIMEON TALLEY COMMUNITY DEVELOPMENT CONSULTANT simeontalleypgmail.com 202.6S7.9102 MARK SEABOLD,AIA,LEEDAP PRINCIPAL ARCHITECT mseaboldpshh.e.hattery.ccm 31924&3398 Skydeck Capital 10NTAIBER 1oneskydecklk.com PAULZAHARIA paulpskoeckllc.com is 2iS el 11 -Q . -- - C4 z z H N I p aw �i��lTw1 4 Nk N 10 N ^- Em.r-% Pala%, ME 1111 1 Immill 7:A Inn ON I -Moll Imm ME 1 1 mmmm m HE I 111111 II II Ill II T 0-1694111 1 7 + S Cosa :id is4 +sue 2i�V m4 1 3 i 5 !04 +ca u a Ulm m0 PARKING LEVEL GROUND LEVEL Washington Street 1 3 3 !C4 sF4 1s4 7a�P 7174 f 2 t T S s54 %`4 ]i`P "J4 I I I I I Stories Project I I I 5,550 SF I� I I I I I I I I fiefoffice space 5,300 SF I b a a i Ti 5 !P4 31f f64 fT4 r4 '.II4 I I I I i City of Iowa City offices 10,065 SF -i - -i - -i - -, ext- roof deck I I I I I I exterior rpof deck i 1° �— — - — SECOND LEVEL THIRD LEVEL FOURTH &FIFTH LEVELS F FI I 3 � 5 W� li`tr I PV 3C4 94 T — — — G _ _ b F Unit 14 I Una 13 I I 907 SF 845 SF b �U.�12 A Unit 11 525 SF I 585 SF I I C. Unit t0 Una B 525 SF 585 SF I I I I b A Unit 8 unit 7 525 SF 585 SF 7 — o S Unit e I - 525 SF Unit 5 585 SF I I Unit 4 525 SF f I i Unit 3 Una 2 I Unit 1 Sae SF B®1 SF I :50 SF r AG 1 ] 4 5 W.(r IP-S 2.w IDd 1 T b I t — F Unit 8 Unit 7 I I Bedroom 2 Bedroom 1.483 SF 1.210 SF b t� I I I I Unit 6 Una 5 2 Bedroom) 2 Bedmor�l 1.050 SF t?0 SF v Unit 4 Unit 3 I i : \\\ I i 2 Bedroom 1 Bed—i I.050 SF 750 b I I b II I t I I ILoftI I rooftop2 avian Unit 2 ESF 3 Bed30 SF room I 1,844 SF I I I I\ I I I SEVENTH, EIGHTH, NINTH, AND ELEVENTH LEVEL TENTH LEVEL (TYP RESIDENTIAL) ROOF PAVILION 1 PATIO DISCUSSION QUICK REFERENCE TABLE 6 stories Steel Framing (Type 11) 6300 sf flex entertainment 3 floors 2 floors 16 4 $21.5m $15.6m $3,000,000 None (unless requested by nonprofit tenant) Iceberg Salida 13 stories Concrete/Steel (Type 1) 2000 sf micro -retail and 3800 sf restaurant, retail, or entertainment 5 floors 7 floors 1 76 (LIHTC) $24m $21.6m $2,000,000 $7m-$9.6m (i.e. full increment for 8-12 yrs) 10 stories Mass Timber (Type IV) 6900 sf flex entertainment, kitchen, 1500 sf micro -retail, art alley 4 floors 5 floors 40 6 $37m $24.1 m $1 $12m-16m full (i.e. full increment for 15-20 yrs) CITY COUNCIL FEEDBACK ON FINALIST PRESENTATIONS TO COUNCIL SELECTION OF RFP RESPONSES COUNCIL PREFERRED DEVELOPMENT CONCEPT