Developer ShowcaSe - Missoula Economic Partnership
Transcription
Developer ShowcaSe - Missoula Economic Partnership
Mayor John Engen and Missoula Economic Partnership Developer Showcase June 9, 2014 Agenda 8:00 Breakfast Sponsored by Garlington, Lohn & Robinson 8:15 Welcome Address & Introductions 8:40 Missoula Economic Trends Mayor John Engen arry Swanson, Economist, Director / L O’Connor Center for the Rocky Mountain West 9:00 Missoula Partnerships Supporting Development Mike Haynes, Director / Missoula Development Services 9:30 Tax Increment Financing & Missoula Urban Renewal Districts Ellen Buchanan, Director / Missoula Redevelopment Agency 10:00 Break 10:15 New Markets Tax Credits, DNRC Trust Land Leasing & Other Investment Opportunities Gary Chumrau, Chuck Hansberry / Garlington, Lohn & Robinson 11:00 Tour of Garlington Building Gary Chumrau, Doug Maves / Garlington, Lohn & Robinson 11:30 Lunch Sponsored by First Security Bank Guest Presentation: A Missoula Developer’s Perspective OPPORTUNITIES ABOUND In 2013, I co-hosted Missoula’s first-ever Developer Showcase because I believed our community was primed for investment. Since then, developers have broken ground on numerous significant projects here totaling tens of millions of dollars in new investment. What drew those developers to Missoula remains true today. First and foremost, the attraction here is the quality of our community. Missoula is a great place to live, work and play. We have mountains and trout streams and running trails. We have a stable, educated workforce of skilled tradesmen, administrative workers and professionals. We have a great university, vibrant economy, and state-ofthe-art utility, transportation and communications infrastructures. We have real estate opportunities. We have business growth opportunities. And in both local government and the private sector, Missoula offers you the resources of professionals who are not only technical experts — they are also approachable, reachable. If you want to bounce ideas around, please feel free to contact the Missoula Economic Partnership’s Brigitta Miranda-Freer at 406.541.6461. We’ve included a brief directory of other key contacts on page 11. Missoula is a great place and we all plan to keep it that way. We look forward to helping you live rich quick in Missoula. Mayor John Engen City of Missoula OPPORTUNITY MADE: South Crossing Development Rick Wishcamper, Developer / Wishrock When Missoula’s Kmart closed in late 2012, it left a major hole on one of the city’s most visible commercial strips. The 40-year-old shopping center that housed the shuttered store needed more than a facelift in order to attract tenants; it needed complete redevelopment. 1:00Driving Tour of Missoula Development Sites In 2013, the Woodbury Corporation, owners of the 12-acre property, launched a $24.5 million transformation of the site. Charter Bus 3:30 Question & Answer Session Ellen Buchanan, Director / Missoula Redevelopment Agency Mike Haynes, Director / Missoula Development Services Barb Martens, Director / Missoula County Development Park Brigitta Miranda-Freer, Director of Business Development / Missoula Economic Partnership 4:30 Professional Services Mixer Sponsored by OZ Architects 5:30 Wrapup & Adjourn 2 Mayor John Engen With the assistance of Tax Increment Financing through Missoula Redevelopment Agency, the Kmart building and parking lot were demolished. In their place, the developers built a 42,000-sq.-ft. Cabela’s Outpost, which opens this month; a 55,000-sq.-ft. building for another anchor tenant, slated to open spring 2015; and a newly configured, attractively landscaped parking lot. An existing, 25,000-sq.-ft. building was renovated for a Boot Barn and Petco, and three outparcels were added (all of which should be up and running by the end of this year). The project, dubbed South Crossing, also helped launch a long-term reconfiguration of Brooks Street aimed at making the area more pedestrianfriendly and attractive for further redevelopment. “This has been a project that has been a lot of fun watching develop thanks to a very proactive Missoula Redevelopment Agency, the Missoula Economic Partnership and City of Missoula. South Crossing will be a most vibrant, synergistic, and successful project the community will embrace with pride,” said Kraig Erickson, Woodbury’s development and leasing agent. “The TIFfinanced improvements were key in landing quality tenants and ultimately in making the whole project pencil out. This project will be a driver for better things to come in Midtown Missoula.” Developing and investing in Missoula by the numbers +207,718 1 Missoula’s effective business population. Missoula’s citizens total more than 68,3941; plus: 43,413 in Missoula County1, 40,823 in Ravalli County1, other Montanans who travel to Missoula regularly for shopping, recreation and professional services, and tourists crossing the state or traveling to Yellowstone and Glacier national parks. 19% 2 in the city of Missoula, 2000 – 2013.1 $1.21 Billion 3 Total retail purchases made in Missoula, 2010; that’s 8.2% of all retail sales in Montana. In 2012, $618 million was spent downtown.3 2 4 2011-2012 spending in Missoula County just by nonresident travelers.4 $8-$23/sq. ft. NNN 6 Commercial space in downtown Missoula. Professional and government offices occupy just over 50%; the rest: 200 retail and food/beverage establishments, 49 nonprofit offices, and residential apartments/condos.3 4.6% 7 Annual rental vacancy rate, 2013. In part due to Missoula’s large student community, only 46% of residents own the residence in which they live.6 Population growth $258.8 Million 2 Million sq. ft. 5 Average commercial lease rate. Class A in-city in Missoula generally ranged from: $18-$23/sq. ft. NNN. Class B in-city generally ranged from: $12-$16/sq. ft. NNN; Class B-C or B located further from city center generally ranged from: $8-$11/ sq. ft. NNN.5 43% 8 Increase in residential lot sales, 2012 – 2013. There was also a 23% increase in homes sold in Missoula in 2013.6 $82 Million 9 Construction value of building permits issued in 2013 in the city of Missoula.5 1 10 Number of agencies & offices that developers need to deal with. Missoula’s new Development Services combines planning, engineering and building services in a one-stop office that is the city’s hub for all development projects. From concept plan review to issuance of a certificate of occupancy, Development Services handles it all. FOOTNOTES ON BACK COVER 3 Butler Creek Rd County 90 Ai rw Bl vd 200 Ai rw ay Bl vd ay County Development Park Missoula International Airport Ex W pr Br oa dw ay es sw ay Bl vd St Missoula County Development Park • This 446-acre mixed-use business park has one of the finest locations, just west of Missoula between Interstate 90 and the Missoula International Airport. • Approximately 83 acres of technology, industrial and commercial lots remain for sale by Missoula County. • Lot sizes and boundaries can be customized; street, water, sewer, gas, electric provided to each lot. • The Development Park has its own unique Special Zoning District. There are covenants and Design Guidelines to assure high standards and to protect long-term investment. • The setting is a campus environment with buildings and streets located in a park-like setting, with common architectural and landscape elements. • There are over 60 acres of parkland designated within the Development Park, with miles of connecting trails. There is also the Historic LaLonde ranch site. • The Development Park has two Tax Increment Finance Districts, one industrial and one technology, which were created to finance infrastructure within the Park and the adjacent International Airport. Public infrastructure projects including roads, sewer, water, gas and electricity, telecommunication lines in the Technology District, sidewalks, street lights, hydrants, parks and trails are financed through TIF funds. Bonds have been issued to accelerate the installation of infrastructure improvements. Other incentives may also be available. 4 Starr Dr Bla ckfo ot R ive 8th St 6th St 7th St 5th St 2nd St 3rd St Zaugg Dr Division Zaugg Dr 4th St Ra m s Ho rn Ln Fla gler Rd Haa glun d Dr Be ar Dr Ante lope Dr Tremper Dr West Riverside Dr 1st St Zaug g Dr County 200 e Av da on ac An 00 y2 wa gh Hi 90 200 River Blackfoot Bonner Mill District r ive kR or kF ar Cl Co lum bia St 200 90 Se co nd ary S Hi 3r gh dS wa tW y2 10 Bonner Mill Industrial TIF District • This 148-acre industrial park is located northeast of town on Highway 200 in Bonner. The Blackfoot River forms the northern boundary of the site. • The site provides excellent opportunities for new industrial activity that can take advantage of existing infrastructure, including rail service and large industrial buildings. • The district is large enough to host multiple independent tenants. • The purpose of this industrial TIF is to encourage secondary, value-adding industrial growth, particularly manufacturing business, by providing a financial mechanism to install necessary public infrastructure improvements and grow the area’s economy over time. • USDA Rural Development eligible. 5 Downtown Stoddard St M ull Master Plan Boundary Rd N WB roa N Higgins Ave S 5th St W yS t F S 5th St E St Ed ith St ep he ns Av e St R ol lin s C le ve la nd St S 8th St W t dwa S 6th St E S 6th St W S 6th St W St NH Mc S 4th St W N Russell St 4th St W S Catlin St ine S Orange St URD II S 3rd St W S Garfield St WP rk Pa S 1st St W 3rd St W St ks o o Br S Higgins Ave Old Sawmill District • 45-acre former lumber mill site being developed as mixed-use residential and commercial neighborhood. • Plans include: 600–800 residences, 150,000–200,000 sq. ft. commercial/retail space, 18 acres of parks and green space. S 14th St W • Shovel-ready land available today. • On riverfront, across from downtown. Mount Ave Holborn St • Connects to adjacent neighborhoods and city trail system. Ave oft St Kensington Ave 6 t Grant St t s ra Ca er Riv ork rk F Cla River St 5th St W rS WM ain W St Fr on tS t Dakota St S 2nd St W lde Riverfront Triangle Old Sawmill District N California St N Catlin St N Russell St River Rd WA t St Co rmi ine St Wo ody S WP ce an S pru Rym WS NO rang eS t t t yS Ow en S dwa St roa Sco t WB Ra ilro ad St W Toole Ave t St Toole Ave ck W Broadway St Or an ge St an E Beckwith Av 90 Urban Renewal District II, Front Street & Riverfront Triangle Districts atte eS t E Al de rS t St St on Jef fers EB roa dwa yS t E Fro nt St •L ocated in the heart of downtown Missoula on both sides of the Clark Fork River. •M uch of the riverfront trail system is located within these three districts, providing easy access to the University of Montana. Jac obs Isla nd • Development opportunities are available in all three districts. •N otable opportunities are the Riverfront Triangle and south of the river in and west of the Old Sawmill District. University of Montana Cam pus Dr Arthur Ave e Av M ad iso n e ric au M St Madiso n St Front Street •T hree Urban Renewal Districts consisting of approximately 540 acres. NV an B uren St E Main S t W Fro nt St • URD II, the oldest and largest of the downtown districts, is approximately 430 acres and has annual tax increment revenue of $1,400,000. Downtown Master Plan (boundary outlined in pink) Cam pus Dr • 20-year vision for the heart of Missoula, adopted in 2009. This Master Plan effort included comprehensive inventory / analysis of downtown businesses and buildings. • Effort led by Missoula Downtown Association and Missoula Redevelopment Agency with strong support from the Downtown Business Improvement District, Missoula Parking Commission and Missoula business leaders. aurice Ave • Several catalyst initiatives have come to fruition from this master plan — including the three-story parking structure on Front Street, the North Higgins Improvement Project and the communitywide Wayfinding System coming later this year. Arthur Ave Ave ce St sS t pru dam NA Wa sh ing ton ES S Van Buren St NP Hig gins Ave 200 7 Grant St S Johnson St S Reserve St Midtown S 14th St W Holborn St Mount Ave URD III Bow St North Ave W W Central Ave Sussex Ave South Ave W S Garfield St So uth ga te Ma ll S Reserve St South Ave W Holborn St St ks oo r B Bancroft St Kensington Ave Benton Ave Ernest Ave S Grant St Dixon Ave 34th St 35th St SW Hillview Way 39th St 23rd Ave Urban Renewal District III Hig hP ark Wa y • 550 acres in Midtown, the geographic center of Missoula. • Easy access to downtown, the University of Montana and the Bitterroot Valley. • Bisected by one of Missoula’s primary commuter bike trails, the Bitterroot Branch Trail. • Numerous development and redevelopment opportunities of various sizes. • Over $2,200,000 in annual tax increment revenue available for eligible projects. 8 Pattee Creek D ins Dore Ln 36th St Pasxon St Schilling St McDonalds Ave Bancroft St S Harve Ave St Stephens Ave Dixon Ave ks oo Br S Russell St Pasxon St Agnes Ave g Hig e Av Coal M ine 90 RR St Or an ge N Russell St St Mc Co River Rd ce WA lde St rS t 200 WP ine St E St ine atte e WP St t St pru Sco yS an WS tt S dwa Ra ilro ad St W NH iggin sA ve t roa 90 N Toole Ave WB Wo ody NORTH RESERVE / SCOTT Proposed URD Toole Ave NO rang eS t Sherwood St Cooper St t Phillips St t Howell St Stoddard St Holmes St Stoddard St Turner St kS Maple St Charlo St en S r N Russell St y wa ad Bro W. Turner St BN SF Ow Palmer St Mu llan Clark F Rd ork Riv e Waterworks Hill Rodgers St Rym Ra ilro ad St W N Dickens St Tr ad eS t Rd Great Northern St ine M al Co t ry S ust Ind ce er m m Co Ro Missoula City dg er Cemetery sS t St Hawthorne St Ra se rD r England Blvd Union Pacific St Rd lock Spur Proposed URD Bulwer St N Reserve St 200 rmic Rd Creek Grant St oc ky ar dR d Rd NR ese rve St North Reserve / Scott Al de rS St ES t t dam sS ers on S S 6th St E S 6th St W dwa yS t Arthur Ave St St ep he ns Av e St Cle ve la nd St 9 E Beckwith Ave Cam pus Dr ks oo Br S Higgins Ave St Ed ith Reserve St University of Montana Ro llin s N Russell St S Garfield St Grant St S Johnson St S Catlin St S 8th St W • Adjacent to the I-90 broadband pipeline. Ja co bs Isla nd Cam pus Dr S 6th St W • Proximity to Interstate 90 provides excellent exposure. St S 5th St E M ad iso n S Reserve St S 5th St W e Av S 5th St W roa E Fron t St e ric au M • Master planning process will begin as soon as district is finalized. S 4th St W EB NV an B uren St Jeff E Main St S 3rd St W S 4th St W St Madison St S Orange St S 1st St W S 2nd St W S 3rd St W k ar sP ra Ca River St ce S Van Buren St er Riv ork rk F Cla W Fron t St pru • Opportunities for mixed use development and plenty of potential for new employment centers and clean industrial. Dakota St t ton ing t Wa sh • Vast amount of under- or undeveloped former industrial property. WM ain St Fr on tS t yS NH iggin sA ve W dwa NA roa NP N California St N Catlin St N Reserve St • 889 acres (420 within city limits, the balance will have access to tax increment financing upon annexation). WB r G 200 E pru de rS t St on St Po pl Vi n e NV an Bur en St ngt on NA dam sS t Jef fers y Br ar t rS ylo a T St St Mount Jumbo oa dw ay Ja co bs Isla nd S Van Buren St S 5th St E Arthur Ave E Proposed URD e Av M ad iso n St Madiso n St E Fro nt St St dwa St St roa t ry EB S st cu St n so rri a H E Main S t Lo n Va n re Bu er Wa shi St N e ric au M 90 S 6th St E Eddy Ave University of Montana 200 Kim Williams Trail Area Connell Ave HELLGATE Proposed URD Cam pus Dr • 133 acres. • District will be anchored by the new UM-Missoula College building. • Several properties currently on the market. • Walking distance to main UM campus. • Transit and parking study currently underway. Arthur Ave • Close proximity to Interstate 90 with improvements to the Van Buren exit planned. • Adjacent to the I-90 broadband pipeline. 10 urice Ave with Ave n so ck a J Ch W Fro nt St St m e ro on M St ce Al Cam pus Dr ES El NP atte eS t NH iggi ns A ve an St Hellgate Commercial Development Missoula Economic Partnership helps turn vision into reality by connecting developers, entrepreneurs and businesses with the people, programs and resources that can accelerate their success. Our savvy, connected staff serves a central role in a broad, collaborative effort involving 100+ business, individual and government investors as well as more than 30 strategic partners, all of whom share our vision of a vibrant, growing and diversified regional economy. Through our working relationships with government agencies, financial institutions and community development organizations across the region, we will proactively assist you in accessing the most appropriate sources of capital to fit your needs. James Grunke CEO To get your project off the ground, contact Brigitta Miranda-Freer or James Grunke at 406.541.6461. MISSOULA COUNTY SITE LOCATOR TOOL Working with GCS Research, a Missoula-based leader in geographical information systems technology, the Missoula Economic Partnership created a powerful GIS-enabled tool developed specifically for businesses and developers looking for opportunity in Missoula County. This one tool provides the data and insight you need to make sound decisions when choosing a zone, neighborhood and property. Brigitta Miranda-Freer Director of Business Development Visit www.MontanaSiteSelector.com/Missoula to explore this invaluable resource. DEVELOPMENT SERVICES The new Missoula Development Services performs a wide range of city government functions including planning and zoning, historic preservation, engineering services, code compliance, regional transportation planning, and programs that promote sustainable transportation options. But Development Services’ core mission is to provide one-stop shopping to the development community and property owners with a team of planning, building and engineering professionals and administrative staff who help applicants navigate the development process. The Development Services team provides support and guidance to applicants from predevelopment and preapplication meetings, through any required land use approvals, plan submittal and review, permitting, and building and engineering inspections, all the way to final approval or issuance of a certificate of occupancy. Development Services is committed to being an active partner in economic development while maintaining standards that set this community apart from others in Montana. Mike Haynes, AICP Development Services Director Development Services is open 8 a.m. to 5 p.m. Monday through Friday and has a Development Review Team available by appointment to discuss and review proposed projects with applicants, free of charge. Call 406.552.6630 to schedule an appointment. MISSOULA REDEVELOPMENT AGENCY The Missoula Redevelopment Agency fosters redevelopment and new development within Missoula’s urban renewal districts by furthering the community goals and objectives identified in the districts’ urban renewal plans. Authorized by state and local laws, MRA partners with public and private entities to help improve economic vitality, create jobs and encourage investment. MRA also participates in public improvements involving parks, trails, streets, sidewalks and more. MRA is funded primarily through a tax increment, which is the new tax revenue resulting from construction and development within the districts. MRA has also obtained private, state and federal grants to finance redevelopment activities. To speak with a staff member about assistance available through MRA, call 406.552.6160. Ellen Buchanan Missoula Redevelopment Agency Director 11 What the Press Says #5 Best Town Ever, Outside 2011 #5 Metro Area with Shortest Commute, U.S. Census 2009 #8 Best City for Successful Aging, Milken Institute 2012 #13 Highest Density of Information & Communications Technology Startups Among U.S. Metro Areas, Kauffman Foundation 2013 #89 Job Growth Rank, Forbes 2012 #93 Cost of Doing Business, Forbes 2012 Top 100 Best Communities for Young People, America’s Promise Alliance 2012 #102 Best Small Places for Business and Careers, Forbes 2012 SPONSORS Thank you to our sponsors for today’s event. Their continued investment in Missoula makes our community a success. architects 125 Bank Street • Suite 200 • Missoula Montana 59802 ph: 406.728.3013 • fax: 406.728.9277 • www.oza.com Missoula Economic Partnership INVESTORS 4G Plumbing & Heating, Inc. Advanced Technology Group Allegiance Benefit Plan Management AlphaGraphics ALPS Corporation Anderson ZurMuehlen & Co. Associated Factoring & Finance, Inc. Beach Transportation Beaudette Consulting Engineers, Inc. Big Sky Commerce Blackfoot Telecommunications Group Bonner Property Development Boone Karlberg, PC Boyce Lumber & Design Center Christian, Samson & Jones, PLLC City of Missoula CM Manufacturing Community Bank, Inc. Community Medical Center Corporate Technology Group / SnapApps.com Crowley Fleck, PLLP CTA Architects Engineers Diversified Plastics Dorsey & Whitney, LLP DoubleTree Hotel Missoula Edgewater Farmers State Bank Farran Realty Partners, LLC First Interstate Bank First Security Bank Five Valleys Land Trust Galusha, Higgins & Galusha Garlington, Lohn & Robinson Gateway Community Federal Credit Union GCS Research The Gillespie Prudential Montana Foundation Francis Gjefle Global Development Services, Inc. Good Food Store Gordon Construction Company, Inc. Grizzly Wine & Spirits, LLC GT Advanced Technologies Carol Hedges Shannon Hilliard, Realtor Hi-Noon Petroleum Holiday Inn Downtown at the Park Jones Brothers Trucking Junkermier, Clark, Campanella & Stevens Karl Tyler Auto Group KECI-TV Julie Gardner / Peter Lambros, Lambros Real Estate-ERA LMG Security McKinstry Minerva, PLLC Missoula County Missoula Electric Cooperative Missoula Federal Credit Union Missoula Independent Missoula International Airport Missoula Nissan-Hyundai, Inc. Missoula Radio Broadcasters Association Missoula’s Office City The Missoulian MMW Architects The Montana Radio Company Morrison-Maierle, Inc. Mountain Water Company Mountain West Bank, NA NAI Crowley Moore Neptune Aviation Services NorthWestern Energy Nutritional Laboratories Int’l. FOOTNOTES 1–U.S. Census Bureau. Missoula primary and secondary trade area statistics compiled by Nielsen Company, Inc., 2013. 2–CLRsearch.com; http://www.clrsearch.com/Missoula-Demographics/MT/Retail-SalesStatistics. 3–Missoula Downtown Association, Master Plan and Downtown Building & Business Inventory. http://www.missouladowntown.com/about/downtown-master-plan/. 12 Office Solutions & Services The Old Sawmill District onXmaps Opportunity Resources, Inc. OZ Architects Pacific Steel & Recycling PartnersCreative Terry Payne PayneWest Insurance Dave & Suzanne Peterson Pew Corporation Poteet Construction Providence St. Patrick Hospital Quality Construction, Co. Republic Services RiverWorks, Inc. Roseburg Forest Products Brian Salonen Sirius Construction, Inc. Southgate Mall Associates, LLP Spiker Communications Tom Stemlar Summit Beverage Taco Del Sol Treasure State Bank Triple W Equipment University of Montana U.S. Bank WGM Group, Inc. Windermere Real Estate Wingate by Wyndham Dale Woolhiser Worden Thane, PC Worden’s Market Deli Zip Beverage 4–Institute for Tourism and Recreation Research, College of Forestry and Conservation, University of Montana, May 2013. 5–Devin Khoury, Broker / GRI, Windermere Real Estate. 6–Missoula Organization of Realtors. Cover photo: Bruce Costa