HomeMy WebLinkAboutLinn Court Lofts pptLI N N COURT LOFTS
PROJECT HAS EVOLVED
• Goal of no TIF
• Maintain mixture of market rate, senior
housing and potential workforce housing
along with commercial, retail, wellness,
medical and office space
• Project will incorporate a second tower that
will focus on professionally managed high
quality housing
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Example of retail option
Multi -use housing complex in Minneapolis
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LINN COURT LOFTS SUMMARY
• Two buildings with underground parking
• Mixed -Use building with market rate and aging in place
residential component on the corner along with
commercial and office space
• Mix of Owner and Rental housing
• Potential for Coordination with healthcare
organizations to be located on site
• Potential for retail opportunities
• Second building is all market rate residential with a
potential for workforce housing with a mix of
efficiency, one and two bedroom opportunities
Sustainability Focus
Key points of our Sustainability in Energy and Environmental Design:
1. Enhanced wall and roof insulation
2. Green Roof
3. Low E -Glass
4. Heating and Cooling Efficiencies
5. LED lighting / Lighting controls
6. High Efficiency Elevators
7. Photovoltaic Electrical Generation
8. Water Conservation and Utilization
9. ZIP cars as transportation alternatives — fills transportation gap
PROJECTED GROWTH OF 65+ IN
JOHNSON COUNTY
Projected Growth among 65+ in Johnson County.
2000-2025
2000 2005 2010 2015 2020 2025
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The blue diamond line above indicates projected growth in seniors. The three blue bars and red
line indicate actual measured numbers.
14000
12000
10000
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The blue diamond line above indicates projected growth in seniors. The three blue bars and red
line indicate actual measured numbers.
IMPORTANCE OF GREEN SPACE
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TAX BENEFIT TO CITY
LINN / COURT LOFTS
SF
CLASS
% OF TOTAL $
ASSESS
ROLLBACK
TAX RATE
ANNUAL TAX
22114
C
13.47%
$7,543,395
0.9
0.0385276
$261,566
33506
C
20.41%
$11,429,365
0.9
0.0385276
$396,311
22680
R
13.82%
$7,736,465
0.557335
0.0385276
$166,123
45428
R
27.67%
$15,496,126
0.557335
0.0385276
$332,745
26040
R
15.86%
$8,882,608
0.557335
0.0385276
$190,734
14400
R
8.77%
$4,912,041
0.557335
0.0385276
$105,475
164168
100.00%
$56,000,000
$1,452,954
OWNER PROJECTS VALUE AT $56,000,000
COMMERCIAL SF /TOTAL TAXABLE SF = 0.3387993
TOTAL SF F UNITS 164,168
TOTAL ESTIMATED 1ST YR TAX 0F$1,452,954 BASED 0N YOUR PROJECTION OF VALUE.
TEAM EXPERIENCE
ALL LOCAL TEAM
• CG Hanson
• Calacci Construction
• Rohrbach & Associates
• George Hollins
• HBK Engineering, LLC
THE VIEW AT 316
CALACCI EXPERIENCE
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ROHRBACH EXPERIENCE
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George Hollins Experience
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Examples:
1. Managed Old Capital Mall renovations of
$29 million
2. Managed $500 million in capital projects
with the UI
3. Managed 2.1 million gross square feet
(GSF) in new buildings at UI
4. Managed 1.4 million GSF in building
renovations at UI
5. Responsible for $4.5 million operating
budget at UI
6. Participated in economic development &
Research Park activities
7. Served as a principal University
representative to the Board of Regents
Office, federal/state agencies, local
governments, businesses, and the Iowa
City community
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HBK Engineering, LLC
509 S. Gilbert Street
Iowa City, IA
1. Multiple infill projects in 36
- - states including Iowa City,
-- Chicago, Philadelphia, Boston,
Florida, Texas and NYC
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2. Parks & Recreation Master
Planning in eastern Iowa
3. Downtown Revitalization
Projects in eastern Iowa
4. Burlington Street Dam and
Power Plant Repair
CAMPUS ADJACENT SENIOR HOUSING
Examples across the United States
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Stanford — Classic Residence by Hyatt
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Wellesley College —Goddard House
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UCLA —Belmont Village
BENEFIT OF INTERGENERATIONAL
LIVING OPPORTUNITIES
• http://www.cbsnews.com/news/one-
clevela nd-24-yea r -old -loves -I ivi ng -i n-a-
reti rement-com m u n ity/
TEAM PARTNERS
C4hanson,NC
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R O H R 11 A C H
ASSOCIATE S PC
A R C N I T I C T S
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