ccrca m Dunec_Potter_Barry_Bradish

Transcription

JoAnne L. Dunec of Ellman, Burke, Hoffman & Johnson, PC
Debbie Potter of City of Alameda
Aidan Barry of Catellus Development Group
Margo N. Bradish of Cox Castle & Nicholson LLP
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Public - Private Partnerships:
Planning for Change
Law Seminars International
March 31, 2008
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Public – Private Partnerships:
Planning for Change
Panel Participants
Aidan Barry, Catellus Development Group
Margo Bradish, Cox Castle & Nicholson
JoAnne Dunec,
Dunec Ellman Burke Hoffman & Johnson
Debbie Potter, City of Alameda
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Law Seminars International | Complex and Mixed-Use Projects | 03/31/08 in Walnut Creek, CA
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Public – Private Partnerships:
Planning for Change

Project Overview
Panel Discussion
Lessons Learned
Q&A
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Project Overview
Former Military Facilities
FISC / East
Housing
Project Area
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Project Overview
Site Location / Characteristics
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Bayport Site
87 Acres
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Alameda Landing
Existing 94 Acre Site
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Project Overview
Site Location / Characteristics
• Location: City of Alameda
• Geography: Island (Flat)
• Prior Use: Alameda Fleet Industrial Supply Center (FISC)
94 acres, U.S. Naval Air Station East Housing Area 87 acres
• Site Issues: Wharf structure deficiencies, asbestos, bay mud,
environmental contamination,
contamination high water table,
table covenants at
FISC restricting residential, access/transportation, rights-ofway, Measure A
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Project Overview
Development Partners
Bayport

City of Alameda / Community Improvement Commission (CIC)

Catellus / FOCIL – BP

Warmington Homes of Northern California (Bayport Alameda
Associates, LLC)

Alameda Unified School District

Housing Authority of the City of Alameda / Resources for Community
Development (RCD)
Alameda Landing

City of Alameda / CIC

Catellus Development Group, a ProLogis Company

Homebuilder

Housing Authority of the City of Alameda
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Project Overview
Roles & Responsibilities
City of Alameda / CIC
Responsibilities / Obligations:
Bayport
• Land Owner / Off-Site Land Developer
• Entitlements and Pre-Development
• Demolition and Environmental Clean up
• Major
M j Public
P bli Backbone
B kb
Infrastructure
I f t t (BBI)
• Traffic Mitigation Fees
Alameda Landing
Land Owner
Financial Partner (only as/if funds generated by project)
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Project Overview
Roles & Responsibilities
Catellus Responsibilities/Obligations:
Bayport
Master Developer
CIC’s General Contractor for Demolition and BBI
Purchase Land from CIC
Joint Venture with Homebuilder to Construct In-Tract BBI
Payment of Residential Profit Participation to CIC
Alameda Landing
Master Developer (all aspects)
Purchase Land from CIC
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Project Overview
2000 Approved Plan
Enterprise Landing
• 1.3
1 3 million SF office / R&D
• 9 acres of Open Space
Bayport
• 485 single family residential units
- 429 units constructed
- 410 units sold
- 10 units under construction
• 101 Affordable Units
- 62 complete/occupied *
- 39 under construction May ‘08
• 7-acre K-8 School / 4-acre Community Park – complete
* 2001 Settlement Agreement
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Project Overview
2007 Approved Amended Plan
Alameda Landing – Multi-Phase Project
“2008 Projected Start”
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300,000 SF of retail
400,000 SF of office
300 residential units
9 acres of waterfront open space
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Project Overview
Major Project Approvals
Selected Master Developer
12/1998
Certified EIR / Approved Development
Agreements
05/2000
1st Amendment to Agreements (Settlement)
12/2001
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Project
j Area Bonds
Issued Redevelopment
03/2002
2nd Amendment to DA & DDA
01/2003
1st Conveyance 197 lots
04/2003
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Project Overview
Major Project Approvals
Established Special Tax District
10/2003
2nd Conveyance 155 lots
06/2004
3rd Conveyance 87 lots
03/2006
Certified SEIR/Alameda Landing DDA/ 3rd
Amendment to Bayport DDA
12/2006
4th Conveyance of 46 lots
07/2007
1st Amendment to the A.L. DA & DDA
12/2007
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Project Overview
Major Challenges / Delays
Affordable Housing Lawsuit (2000)
A significant downturn in the office
market (2000-2008…)
Need to bifurcate project to build to
market demand (2003)
Discovery of additional chlordane during
initial demolition (2003)
pp
Establish Political / Communityy Support
for Retail Uses (2004 – 2005)
Re-entitle Office Park as Mixed Use
Development (2006)
Condition of the waterfront wharf (2007)
Current Market / Economy (2008)
Alameda
Landing
Bayport
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Project Overview
Where we are today…
Bayport
• The approved 2000 master plan is
moving forward.
• Under construction with 410 out of 485
homes sold (build-out in 2009)
• 62 affordable units are occupied
Bayport
• 39-unit affordable housing project
breaking ground May ‘08
• The new K-8 school and park opened
September 2006
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Breakers at
Bayport
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Project Overview
Where we are today…
Alameda Landing
• Project Approvals in Place
• Approved Process for Modifying
Environmental Covenant to Allow Residential
Construction
Alameda
Landing
• Progress on 3rd Party Rights-of-Way
Acquisition
• Retail and Office Leasing
• Residential Specific Entitlements
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Lessons Learned
Understand Public/Private Partnerships

Common purpose/sharing the vision
Mutual trust
Mutual gain/differing mission and motivations
Cooperation/transparency
Role of each party / accountability
Community and political support
Niche within development community
“Patient Money”
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Lessons Learned
Anticipate Project Duration & Complexity

Initial selection process (RFQ/RFP)
Exclusive negotiations
Predevelopment costs / risk allocation
Fiscal neutrality
Phased development – timing / availability of
funds for project costs
Third party governmental involvement –
regulatory, etc.
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Lessons Learned
Plan for Change

Entitlements
- Maximize land use flexibility
- MMRP/approval condition allocations

Market assumptions/evolving market conditions
Profit participation/cash flow
Developer restructuring/joint ventures
Project/financing restructuring
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ccrca m Dunec_Potter_Barry_Bradish

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