AN AD VI SORY S E R V IC E S PA N E L R E P O RTUniversity Research ParkCharlotte, North Carolina
University Research ParkCharlotte, North CarolinaReinventing a Regional AssetSeptember 29–October 2, 2008An Advisory Servi...
About ULI–the Urban Land Institute    T         he mission of the Urban Land Institute is to      •  Sustaining a diverse ...
About ULI Advisory ServicesT      he goal of ULI’s Advisory Services Pro  ram                                             ...
Acknowledgments    O           n behalf of the Urban Land Institute, the     Mary Hopper, Gary Morgan, Dikeesha Nelson,   ...
ContentsULI Panel and Project Staff                                6Foreword: The Panel’s Assignment                      ...
ULI Panel and Project Staff    Panel Chair                          Douette Pryce                                         ...
Foreword: The Panel’s AssignmentU       niversity City Partners (UCP) invited the                                         ...
VIRGINIA                                                                                                                  ...
Rebrand and Market the Park                               redevelopment. The park’s current and future                    ...
Market Potential     T           he University Research Park is a $1 billion-      Charlotte’s market will likely continue...
Ballantyne                                                university coexist as neighbors and anchors for                 ...
•  High-quality occupants and architecture: the         URP offers an impressive collection of high-        quality occupa...
Planning and DevelopmentStrategiesT      he panel proposes reinventing the park into         park and ultimately will lead...
The panel identified five     key sites for catalytic     developments. The panel     also recommends creat-     ing iconi...
The panel recommends                                                                             diversitying the park to ...
provide a consistent, natural setting throughout         that the park’s stakeholders work closely with      the park.    ...
Develop a small, high-end enclave. The enclave            Increase the park’s visibility on the freeway. Largewill create ...
Identify new internal road connections. The mas-          spine and would connect other internal roads.     ter plan shoul...
ImplementationT     he panel’s proposal lays the ground work for         property assessments and focuses on the econom-  ...
The marketing strategy should also promote               Take the Next Steps     the park’s excellent electricity and fibe...
About the PanelZane Segal                                                sory committee of Envision Houston Region, and   ...
In 2004, she was named a member of the Atlanta          with the growing number of investors and lenders     Business Chro..., that has been investing in the         with a BA in business administration and earned a greater Puget ...
country. Most notable are Mizner Park in Boca Raton, Florida; Bethesda Row in Maryland; and Metropolitan at Midtown in Cha...
ULI–the Urban Land Institute1025 Thomas Jefferson Street, N.W.                                     Printed on recycled pap...
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Ucp advisory servicespanelreport_charlotte_nc_2008

  1. 1. AN AD VI SORY S E R V IC E S PA N E L R E P O RTUniversity Research ParkCharlotte, North Carolina
  2. 2. University Research ParkCharlotte, North CarolinaReinventing a Regional AssetSeptember 29–October 2, 2008An Advisory Services Panel ReportThe Urban Land Institute1025 Thomas Jefferson Street, N.W.Suite 500 WestWashington, D.C. 20007-5201
  3. 3. About ULI–the Urban Land Institute T he mission of the Urban Land Institute is to •  Sustaining a diverse global network of local  provide leadership in the responsible use of practice and advisory efforts that address cur- land and in creating and sustaining thriving rent and future challenges. communities worldwide. ULI is committed to Established in 1936, the Institute today has more  •  Bringing together leaders from across the fields  than 40,000 members worldwide, representing the of real estate and land use policy to exchange entire spectrum of the land use and development best practices and serve community needs; disciplines. Professionals represented include de- velopers, builders, property owners, investors, •  Fostering collaboration within and beyond  architects, public officials, planners, real estate ULI’s membership through mentoring, dia- brokers, appraisers, attorneys, engineers, financiers, logue, and problem solving; academics, students, and librarians. ULI relies •  Exploring issues of urbanization, conservation,  heavily on the experience of its members. It is regeneration, land use, capital formation, and through member involvement and information sustainable development; resources that ULI has been able to set standards of excellence in development practice. The Insti- •  Advancing land use policies and design prac- tute has long been recognized as one of the world’s  tices that respect the uniqueness of both built most respected and widely quoted sources of ob- and natural environments; jective information on urban planning, growth, and development. •  Sharing knowledge through education, applied  research, publishing, and electronic media; and ©2008 by ULI–the Urban Land Institute 1025 Thomas Jefferson Street, N.W.  Suite 500 West Washington, D.C. 20007-5201 All rights reserved. Reproduction or use of the whole or any  part of the contents without written permission of the copy- right holder is prohibited. Cover photo © Zane Segal.2 An Advisory Services Panel Report
  4. 4. About ULI Advisory ServicesT he goal of ULI’s Advisory Services Pro  ram  g able to make accurate assessments of a sponsor’s  is to bring the finest expertise in the real issues and to provide recommendations in a com- estate field to bear on complex land use plan- pressed amount of time. ning and development projects, programs,and policies. Since 1947, this program has assem- A major strength of the program is ULI’s unique bled well over 400 ULI-member teams to help ability to draw on the knowledge and expertise of sponsors find creative, practical solutions for its members, including land developers and own-issues such as downtown redevelopment, land ers, public officials, academics, representatives ofmanagement strategies, evaluation of develop- financial institutions, and others. In fulfillment of the mission of the Urban Land Institute, thisment potential, growth management, community Advisory Services panel report is intended to revitalization, brownfields redevelopment, mili- provide objective advice that will promote the re-tary base reuse, provision of low-cost and afford- sponsible use of land to enhance the housing, and asset management strategies,among other matters. A wide variety of public,  ULI Program Staffprivate, and nonprofit organizations have con-tracted for ULI’s Advisory Services. Marta V. Goldsmith Senior Vice President, Community/Each panel team is composed of highly qualified    Education Provostprofessionals who volunteer their time to ULI.They are chosen for their knowledge of the panel  Thomas W. Eitler Vice President, Advisory Servicestopic and screened to ensure their objectivity.ULI’s interdisciplinary panel teams provide a Matthew Raderholistic look at development problems. A re- Manager, Advisory Servicesspected ULI member who has previous panel Caroline Dietrichexperience chairs each panel. Panel Associate, Advisory ServicesThe agenda for a three-day panel assignment is Gwen McCallintensive. It includes an in-depth briefing com- Administrative Manager, Education and Community posed of a tour of the site and meetings withsponsor representatives; interviews with com- Nancy H. Stewartmunity representatives; and one day for formu- Director, Book Programlating recommendations. On the final day on site, Laura Glassman, Publications Professionals LLCthe panel makes an oral presentation of its find- Manuscript Editorings and conclusions to the sponsor. At the re-quest of the sponsor, a written report is pre- Betsy VanBuskirkpared and published. Creative DirectorBecause the sponsoring entities are responsible  Martha Loomis Desktop Publishing Specialist/Graphicsfor significant preparation before the panel’s visit,including sending extensive briefing materials to Craig Chapmaneach member and arranging for the panel to meet Director, Publishing Operationswith key local community members and stake-holders in the project under consideration, par-ticipants in ULI’s five-day panel assignments areCharlotte, North Carolina, September 29–October 2, 2008 3
  5. 5. Acknowledgments O n behalf of the Urban Land Institute, the Mary Hopper, Gary Morgan, Dikeesha Nelson,  panelists thank University City Partners  Olen Smith, and Robert Wilhelm for providing a  for inviting them to explore development warm welcome, excellent briefing materials, and opportunities for the University Research  candid insight into the park’s challenges and op- Park. The panel applauds University City Part- portunities. Finally, the panel thanks all the com- ners, University Research Park, Inc., and the Uni- munity members who participated in interviews. versity of North Carolina at Charlotte for their  They demonstrated the community spirit that commitment to making University City a vital  makes University City a great place in which to  place to live, work, and learn.  live and work. The panel thanks Chancellor Philip L. Dubois,  Tom Flynn, Peter Franz, Seddon “Rusty” Goode, 4 An Advisory Services Panel Report
  6. 6. ContentsULI Panel and Project Staff  6Foreword: The Panel’s Assignment  7Market Potential  10Planning and Development Strategies  13Implementation  19About the Panel  21Charlotte, North Carolina, September 29–October 2, 2008 5
  7. 7. ULI Panel and Project Staff Panel Chair Douette Pryce President Zane Segal Pryce Resources, LLC Project Director St. Lucie West, Florida Zane Segal Projects Houston, Texas James T. Viviano  Associate Director Cooper Carry, Inc. Panel Members Atlanta, Georgia Jennifer Ball Vice President of Planning ULI Project Staff Central Atlanta Progress, Inc.  Atlanta, Georgia Matthew Rader Manager, Advisory Services Paula Konikoff J.D. MAI Bartly Mathews New York, New York Intern, University of Virginia Keith Maehlum Vice President of Development HAL Real Estate Investments, Inc.  Seattle, Washington6 An Advisory Services Panel Report
  8. 8. Foreword: The Panel’s AssignmentU niversity City Partners (UCP) invited the  Power Research Institute, AREVA, IBM, Mi- panel to help create a new vision for the chelin, Polymers Center of Excellence, Speed  University Research Park (URP). The  Channel, TIAA-CREF, and Wachovia. The park  URP is a 2,200-acre office and light industri- contains at least 615 undeveloped park adjacent to Interstate 85, ten miles north-east of uptown Charlotte. UCP is working with  Specifically, UCP asked the panel to consider the the URP’s property owners and other stakehold- following questions:ers to revitalize the park and ensure its long-term  •  What physical improvements should the URP vitality. undertake to establish identity, improve the The University of North Carolina at Charlotte  tenant experience, and set the stage for future(UNC Charlotte) and the URP anchor Universi- growth?ty City, northeast Charlotte’s largest submarket.  •  What green building standards should the University City houses more than 150,000 resi- URP establish for new buildings and building dents and 74,000 jobs and contributes over $8.4  retrofits, and how should the URP establish, billion annually to the regional economy. UCP, the  incentivize, and enforce these standards?panel’s sponsor, is a special services district thatserves University City’s commercial core. In July  •  What is the optimal mix of tenant types (re-2008, the Charlotte City Council expanded UCP’s  search, back office, other) for the URP? What boundaries to include the URP. steps should the URP take to attract these ten-The URP provides space for over 10 million  ants and support the growth of tenants withinsquare feet of offices with more than 20,000 em- the park?ployees. Although planned for research functions,  •  What additional amenities should the URP offer the URP features a diverse mix of office, back of- to attract the desired tenant mix?fice, and light industrial uses. The park’s 80 build-ings house an estimated 198 occupants, includ- •  Should the URP consider mixed-use develop-ing Duke Power, EDS, Fifth Third Bank, Electric  ment? If so, what other types of development KENTUCKY VIRGINIA Location map. 85 77 NORTH CAROLINA 95 Winston-Salem Greensboro 85 TENNESSEE High Point Durham Rocky Mount Albemarle Sound 40 Cary Raleigh 40 Asheville 77 N ORTH CAROLINA Greenville 26 Gastonia 85 Charlotte Pamlico Sound 95 Fayetteville Jacksonville GEORGIA SOUTH CAROLINA 40 Wilmington A t l a n t i c O c e a nCharlotte, North Carolina, September 29–October 2, 2008 7
  9. 9. VIRGINIA 85 77 NORTH CAROLINA 9 Winston-Salem Greensboro Regional map. Create a Conservation Community 85 Durham ALEXANDER High Point R IREDELL 40 The URP’s beautiful natural setting impresses ev- Cary ery visitor and can become the park’s greatest as- DAVIDSON Raleigh set, especially R O LIN A sustainability increas- N O RTH C A as interest in Asheville C ATAW B A 77 ROWAN es. Future development in the URP should follow 26 LINCOLN sustainable development principles and respect the natural environment. CABARRUS 85 CLEVELAND Gastonia S T A N LY Increase Density to Enhance Sustainability GASTON Charlotte 95 MECKLENBURG Increased density and connectivity between uses Fayetteville will add value to the URP. The park’s current 0.1  floor/area ratio (FAR) means that there is only  UNION ANSON should be considered? Where should they be  one square foot of building for every ten square feet of land, which is not efficient. Increased den- Jack located within the park? How will mixed-use  SOUTH CAROLINA development contribute to the park’s long-term  sities will enable people to walk between more  viability? uses and drive less, consequently reducing ve- hicle miles traveled, a key goal of sustainable  •  Who should play a role in managing the URP?  development. 40 What role should each organization take? How  should they be coordinated? Introduce Complimentary Uses Wilmington •  What steps can the URP take to encourage  The panel recommends diversifying the park to  development of the undeveloped parcels and include a hotel, accessory retail, limited housing, redevelopment of underperforming properties? and other uses that support businesses and their employees. Projects around the world show that Summary of Recommendations the right mixed-use elements can add value to an office park. A recent study by Battelle showed  The panel believes that UCP, University Re- that many research parks are working to provide  search Park, Inc., the URP’s property owners and  internal mixed-use, walkable communities. By  tenants, UNC Charlotte, and other stakehold- helping reduce vehicle miles traveled, thereby re- ers can work together to reinvent the URP as a  ducing emissions, mixed-use development also de- mixed-use, master-planned, conservation commu- creases the park’s overall carbon footprint.  nity with a strong business focus. Reinvention will  make the park more attractive to new buyers and  Moving Ahead occupants and will begin an ongoing process of re- development that will help keep it vital.  Effective reinvention will require organizational  and image changes that will support and promote The panel envisions a reinvented park with excel- the physical changes described. The panel recom- lent buildings and sites, a stunning natural set- ting, and a carefully planned mix of complementa- mends the following action steps to initiate the ry uses—such as a hotel, a health club, and limited reinvention. housing—that will attract high-quality businesses. Create a Master Plan The reinvention will follow national trends that see research and office parks transitioning from  The panel recommends engaging all stakeholders  single-use, automobile-dominated environments in creating a master plan for the reinvented park.  into mixed-use communities. This reinvention The master plan will provide the road map for fu- should embrace the goals discussed in the follow- ture development and will align the stakeholders  ing sections. along clear principles for future development. 8 An Advisory Services Panel Report
  10. 10. Rebrand and Market the Park redevelopment. The park’s current and future  property owners and tenants must take consider-The panel recommends creating and marketing  able leadership in the park’s future governance. a new identity for URP that separates it fromexisting perceptions. The new identity may in- Reinvention will take time. Some of the panel’s clude a name change and should highlight the long-range recommendations may not make sense new master plan. in the current market. The panel encourages all  stakeholders to remember that few facilities in the Create a Collaborative Organization park today will exist in a century. Opportunities University Research Park, Inc., provided dedi- for development and redevelopment should re-cated leadership through the park’s development.  spond to market conditions while remaining true For the reinvention, University Research Park,  to the master plan’s core principles.Inc., and UCP should evolve and collaborate to provide the leadership and management neededto manage the park’s ongoing development and Charlotte, North Carolina, September 29–October 2, 2008 9
  11. 11. Market Potential T he University Research Park is a $1 billion- Charlotte’s market will likely continue its growth  plus asset that needs to be protected and en- when the national economy stabilizes. Charlotte’s  hanced. Today, the park’s occupancy and use  excellent quality of life, strong employment base, are declining. Even before the current na- relatively affordable housing at all price levels, tional and international financial crisis, available and attractive climate will continue to attract buildings and sites were not selling and leasing at businesses and residents during, and especially af- market rates. The park’s large parcels, stunning  ter, the current turmoil. natural setting, and convenient access to I-85 and  UNC Charlotte offer competitive advantages. The  panel believes the park can be reinvented to at- Alternatives to the URP tract new attention and perform at or above mar- A company considering locating in the URP might  ket levels.  consider four other locations in greater Charlotte.  All segments of the URP are suffering declining  None is truly competitive with the URP because  occupancy and use in part because of company fail- the URP alone offers large-acreage available land  ures and mergers characteristic of national mar- parcels and a pristine parklike atmosphere. How- kets at this time. Three major facilities illustrate  ever, each alternative offers amenities to attract this trend: the Meridian (former IBM) property,  new occupants. The four top competitors are dis- with over 1.8 million square feet of space on 183  cussed in the following sections. acres, is in receivership; First Charter’s former  headquarters is now owned by Fifth Third Bank,  North Carolina Research Campus houses roughly one-third of its intended 900 em- Located 17 miles north of the URP in Kannapo- ployees, and is for sale; and the Wachovia facility,  lis, North Carolina Research Campus is a 350-acre  with over 10,000 employees, lacks a clear future  biotech research facility currently under devel- because of Wachovia’s recent takeover by Wells  opment. The campus offers over 1 million square  Fargo. Owners of multitenant buildings also report  feet of state-of-the-art lab, office, and greenhouse reduced leasing and believe that the small-tenant space with access to several major university re- market may be saturated at this time. search facilities and is designed as a hub for re- search operations. The Charlotte Market South Park Historically, Charlotte’s overall market has en- joyed continuous growth. The Chamber of Com- Located 13 miles south of the URP, the South  merce reports that population and household in- Park neighborhood offers a significant cluster of  come grew from 2007 to 2008 and will continue  office space and a significant concentration of up- their steady climb. CB Richard Ellis’s (CBRE)  scale housing, retail, restaurants, and entertain- Second Quarter 2008 Report noted that the office  ment. The combination of available office space market had remained stable, despite problems in  and a vibrant residential community makes South  the national economy and the national office mar- Park a very attractive business location. South  ket. CBRE encouraged investors to watch the of- Park offers some development sites, but they are  fice market closely for the remainder of 2008 as  smaller and much more expensive than those in bank layoffs continue.  the URP. 10 An Advisory Services Panel Report
  12. 12. Ballantyne university coexist as neighbors and anchors for University City. Transforming this relationship Located 24 miles south of the URP, Ballantyne  into a dynamic partnership will benefit both insti-offers a well-defined and branded collection of of-fice parks, mixed-use residential communities, and  tutions and the larger community.retail centers. Ballantyne offers both higher-rise  As UNC Charlotte begins to run out of land for buildings than the URP and mixed-use amenities  expansion, the URP provides a natural site for that create vibrancy attractive to business users. further expansion because of its physical proxim-The Ballantyne Resort is a major amenity and in- ity and similar natural character. The URP also cludes a hotel and a golf course. Ballantyne offers  offers a natural place for companies incubatedonly rental office space. at the Charlotte Research Institute to relocate Uptown Charlotte and grow, first in multitenant buildings or newly built flex space and eventually in their own fa-Uptown, Charlotte’s city center, offers the sky- cilities. Enhanced physical connections, includ-scrapers, hotels, condominiums, retail, and restau- ing the proposed bike trail and light-rail shuttles, rants expected in an urban downtown. Uptown will strengthen the connection between these twodoes not offer large parcels appropriate for a userseeking to control its own security, a natural set- neighbors.ting, or access to the university. Park PositivesThe URP stands out among the competition as the only park setting and the only place with large- The URP offers many positive features that acreage parcels appropriate for major single us- should be preserved and can become major drawsers. These characteristics, coupled with the park’s  for new companies. The strongest positiveslocation near I-85, UNC Charlotte, and the af- includefordable neighborhoods of University City are the URP’s strongest assets.  •  A unique, inherently “green” physical setting:  the URP really is a park that offers stunning University Ties natural scenery, dense woods, and gently rolling topography.When the URP opened in the mid-1960s, UNC Charlotte enrolled 1,800 students and lacked any  •  The greenway: the park’s greenway offers an significant research program. Today, UNC Char- amenity to users who can use it to jog, run andlotte enrolls 23,200 students and will continue to  walk through the lush natural landscape.grow by 1,000 students per year until total enroll- •  Redundant power infrastructure: the park’s re-ment reaches 35,000, likely in 2020.  dundant power infrastructure is not duplicatedUNC Charlotte is now a leader in university- in Charlotte and makes the park especially at-business partnerships and hosts a nationally recog- tractive to data centers, research facilities, andnized research program. The Charlotte Research  others who rely on uninterrupted power.Institute, UNC Charlotte’s arm for university-business partnerships, is currently expanding its •  Large contiguous tracts: the park offers both complex on UNC Charlotte’s campus to provide  vacant parcels and underused buildings that areadded research facilities and incubator space for large enough to allow users privacy and fullysmall businesses. controlled security.The panel recommends that UCP and Universi- •  Excellent transportation and access: the park ty Research Park, Inc., engage UNC Charlotte in  offers extensive existing and planned links to the park’s reinvention. Although connected by le- I-85, regional highways, and surface roads gal agreements, the URP and UNC Charlotte do  that connect the park to nearby residential not maintain an active relationship. The park and  neighborhoods.Charlotte, North Carolina, September 29–October 2, 2008 11
  13. 13. •  High-quality occupants and architecture: the  URP offers an impressive collection of high- quality occupants often housed in complexes of equally high-quality architecture and landscape architecture. The list of notable occupants in- cludes TIAA-CREF, Electric Power Research  Institute, Duke Power, and the former First  Charter headquarters.12 An Advisory Services Panel Report
  14. 14. Planning and DevelopmentStrategiesT he panel proposes reinventing the park into  park and ultimately will lead to greater outside  a master-planned conservation community interest. The master plan may require updates to with a business focus. Reinvention will re- the covenants and zoning to enable mixed-use de- quire close collaboration among all stake- velopment and support the plan’s core principlesholders, including University Research Park, Inc.,  of conservation and connectivity.UCP, landowners, and tenants. The reinvention  The master plan should include a comprehensiveprocess will include making an inventory of the  transportation component targeted at enhancingpark’s current assets, creating a master plan for  the park’s connectivity to UNC Charlotte, Uni-the future, and managing development and rede- versity Place, future light-rail stations, and othervelopment over time. This section of the report neighboring activity nodes. The plan should look outlines strategies for the proposed inventory, the at automobile, bicycle, pedestrian, and transit ac-master plan, and development of specific parcels. cess to the park and create appropriate internal  and external connections for all modes. Transpor-Inventory the Park tation planning must be integrated with the land use and development planning.The panel recommends creating a complete inven-tory of the park’s land, buildings, occupants, and  Master Plan Principlesundeveloped parcels. The inventory will providethe baseline information needed to create an effec- The panel recommends adopting core principles totive master plan and marketing strategy.  guide the master plan and future development ac- tivities. The following principles focus on creating a dynamic community that will make the park a Create a Master Plan unique location in Charlotte and that exceeds the  expectations and needs of future occupants.Following the inventory, the stakeholders should initiate the master-planning process. The new Shape the park into a conservation community. Themaster plan should take a long-term view and cre- park offers beautiful stands of hardwood trees and ate a road map for future development, includ- a rolling landscape that do not exist in many re-ing core business uses and complementary uses. gions throughout the United States. The beautiful The master plan’s bottom-line goal must be to de- greenway allows individuals to enjoy a peacefulvelop a shared vision for the park’s development,  environment while in the park. The panel believes growth, and evolution and a shared understanding that future development in the park should em-of the catalytic development projects and infra- brace the unique natural setting by adopting sus-structure (roads, paths, parks, and so on) needed  tainable development strategies and protectingto achieve that vision. The master plan must be the existing natural settings.collaborative and open, and it should engage allstakeholders.  Intensify land uses. The panel recommends in- tensifying land uses in the park to create a more The park should build on the diversity of exist- walkable community and to preserve green space. ing occupants and should continually seek oppor- Examples of appropriate intensification include tunities to develop and redevelop infill sites with clustering businesses in a walkable area, encour-greater densities and uses that harmonize with  aging structured parking to allow denser uses, and the master plan. Diversifying land uses will create  reducing setbacks to create synergies between flexibility regarding what can be done within the uses. Intensification should be carefully planned toCharlotte, North Carolina, September 29–October 2, 2008 13
  15. 15. The panel identified five key sites for catalytic developments. The panel also recommends creat- ing iconic signage at key entrances and intersec- tions throughout the park. Key Key Sites Key Entrance or Intersection Greenway Trail14 An Advisory Services Panel Report
  16. 16. The panel recommends diversitying the park to include uses complemen- tary to business activi- ties, such as executive residential, a mixed-use village, and an enhanced greeenway. The panel also recommends creat- ing an iconic structure along I-85 and branding the water tower to raise the park’s visibility. Key Iconic Structure Key Intersection New BoulevardCharlotte, North Carolina, September 29–October 2, 2008 15
  17. 17. provide a consistent, natural setting throughout that the park’s stakeholders work closely with  the park. UNC Charlotte and private developers to develop  new lab space that meets the technical require- Adopt LEED standards for new development. The ments for research and development tenants. park’s natural amenities already support sustain- able development goals. The panel recommends Provide accessory retail. The panel recommends adopting LEED (Leadership in Energy and En- creating new accessory retail to serve business- vironmental Design) standards for future devel- es and residents within the park. Accessory re- opment to enhance the park’s sustainability and  tail should not duplicate or compete with Uni- marketability. TIAA-CREF has already imple- versity Place. mented LEED design and created a long-term,  sustainable development that conserves energy. Incorporate creative-class housing. Last year, Charlotte gained more than 92,000 young, highly  Development Program educated residents who want to live close to em- The master plan should identify appropriate loca- ployment opportunities. These residents are part tions and development strategies for uses within of the creative class, workers who use their cre- the park. As previously noted, the panel propos- ative ability, education, and expertise to develop es diversifying the park’s uses to include limited  new innovations in science, engineering, media, housing, services, and other supportive uses to at- medicine, architecture, and other disciplines. Cre- tract new occupants to the park. The panel recom- ative-class professionals generally prefer higher- mends the master plan address the following uses: density, walkable communities. Typical creative- class housing projects offer four to five floors of Develop new office space. The panel recommends residential flats over a base of community retail encouraging new office development by modifying or live/work units.  the zoning code to allow taller, more slender build- ings that extend above the tree canopy. Allowing  Consider a cultural amenity. Cultural amenities  such buildings will help increase the park’s FAR  such as museums, galleries, and theaters can im- and create many new development opportunities. prove a community’s quality of life while attract- Increasing FAR and colocating uses fights climate  ing growth and development. A cultural amenity  change by reducing vehicle miles traveled and re- in the park would offer a change of pace for em- lated vehicle emissions. ployees and could offer a catalyst for hospitali- ty and retail uses. Additionally, a cultural ame- Expand research and development activities. War- ren & Associates’ University Research Park Com- nity could attract area residents to the park  petitive Analysis (December 2007) found that 60  experience. to 100 percent of occupants in comparable parks  Provide a heliport. A heliport can help differenti- are oriented to research. The panel recommends ate the park in the marketplace by allowing high- increasing the park’s research-oriented occupancy  level executives to quickly and conveniently travel  closer to this benchmark.  from the airport or neighboring communities di- The panel recommends developing flex buildings rectly to offices in the park. A heliport may be im- to serve research tenants. Flex buildings provide  portant for an international headquarters office or flexible space for research and development ten- even a NAS  AR corporate headquarters. It could  C ants to establish research facilities, lab facilities, be located either within the site or on a building. offices, industrial space, and even retail opportu- Open a sales center. The sales center should offer nities, depending on their various needs. Develop- a central marketing point for all properties in the  ers can easily modify flex buildings to respond to park and should include the offices of the park’s  changing markets.  management entity. Visitors and potential occu- Establishing high-quality lab space is essential for  pants can visit the sales center to learn about a successful research park. The panel recommends  the park.16 An Advisory Services Panel Report
  18. 18. Develop a small, high-end enclave. The enclave Increase the park’s visibility on the freeway. Largewill create a core of amenities that serve execu- entrance pylons, consistent architecture, and dra-tives and businesses located in and near the park.  matic landscaping let visitors know when they ar-The enclave’s uses will enable executives to con- rive at Ballantyne. The URP, in contrast, lacks duct more of their business and personal activities visibility despite its prominent frontage on I-85 within the park and will make the park a mag- and W. T. Harris Boulevard. The panel recom-net for other businesses in the Charlotte mar- mends creating a highly visible sign on I-85 and ket. These amenities may help the park compete  constructing iconic buildings on the land parcelagainst other business areas with more estab- along the west side of I-85, south of W. T. Harris lished neighborhoods and amenities:  Boulevard adjacent to the Meridian site. Promi- nent buildings and signs will make freeway travel-•  Executive villas that capitalize on the current  ers aware of the park.  lack of executive housing in University City  and provide an option for executives to live and Clearly mark major intersections and entrances. work in the park. The panel recommends implementing new, uni- form signage throughout the park to create visual •  A lodge hotel that serves the short-term and  consistency and clearly identify the park’s bound- extended-stay needs of businesses in the park.  aries. As a first step, the park should create a  The hotel could adopt a lodge aesthetic that standard design for all entrances to the park and  builds on the park’s natural setting and pro- to individual properties within the park. The new  vides a hotel experience unique in the Charlotte  signage will become the backbone for a new way- market.  finding system for both pedestrians and automo- biles in the park.•  A conference center that serves businesses in  the park. The conference center could be incor- Transportation porated into the hotel or developed separately. The master plan should address transportation•  A four-star restaurant/dinner club that would  improvements needed to provide internal links  serve executives within and near the park. The  among uses in the park and external links to  restaurant should be located centrally and take  neighborhoods, transit, UNC Charlotte, and the  advantage of the park’s natural or geographic  greater region. The panel recommends the follow- features to create a special setting. ing transportation projects:•  A spa that will complement the hotel and con- Complete the missing Interstate 485 links. Al- ference center. though the panel knows that completing the  northwestern segments of I-485 are an obvious •  A private athletic club that complements the  need, the panel recommends that the park’s  existing YMCA and provides personal training,  stakeholders constantly monitor and support  wellness programs, and other personal fitness this project. services. Improve sidewalks and bike trails. The park lacks •  A concierge service that helps businesses in the  adequate sidewalks and bicycle paths, separated  park take advantage of the preceding services  with landscaping, along the park’s internal roads.  and connects them to other services not pro- The panel recommends working with the North  vided in the park.  Carolina Department of Transportation (NCDOT)  to create these facilities. The park’s stakehold-Site Improvements ers should also work with NCDOT to create land-The master plan should also identify key site im- scaped medians on key roads, build center turn provements to be implemented as part of the lanes at property entrances, and install streetpark’s reinvention. The panel recommends the fol- signage and signature streetscape features alonglowing site improvements: key roads. Charlotte, North Carolina, September 29–October 2, 2008 17
  19. 19. Identify new internal road connections. The mas- spine and would connect other internal roads. ter plan should recommend any new internal The panel recommends developing the parcel into road-grid connections important for the park’s  a mixed-use village that transitions from high- connectivity. density office above retail along Mallard Creek  Church Road to residential above retail to medi- Create a shuttle bus link to future light rail. The um-density housing at the site’s southern edge. panel recommends that the park’s stakeholders  Developing the village will require rezoning to  collaborate with Charlotte Area Transit System  allow mixed uses and increased density. to coordinate bus shuttle service within the park  to serve future light rail. It is critical that shuttle Undeveloped parcels #3 and #4. These parcels are service within the park be enhanced as the light- smaller than the others and are located in an es- rail improvements are made to maximize the cir- tablished office area. Parcel #3 has a small connec- culation within the park and to connect the park to  tion to Mallard Creek Church Road while parcel  the light-rail system and the university. #4 has a connection to Mallard Creek Road. The  panel proposes developing these parcels for tradi- Strategies for Undeveloped Parcels tional office uses. The panel believes that development of five major Undeveloped parcel #5. This is the largest un- undeveloped parcels can catalyze the park’s rein- developed parcel and is located in the center of vention. This section specifically addresses strate- the park. Mallard Creek and the greenway run  gies for these five parcels. through this parcel. The site includes a large flood- Undeveloped parcel #1. The panel recommends lo- plain, which makes much of the parcel unusable  cating an iconic tower and sales center on this site for buildings. The creek, greenway, and floodplain  along with mid-rise office and residential develop- can be enhanced and become the parcel’s great- ment. The tower should capitalize on the parcel’s  est assets. The panel proposes reshaping some of great visibility from I-85 and W. T. Harris Bou- the low-lying floodplain into a water feature that levard, high elevation, and access to the existing will complement the high-end executive enclave creek and potential greenway.  and hotel and conference center built on the site’s higher-elevation areas. The parcel’s trails and Undeveloped parcel #2. This relatively flat parcel greenway would focus around the water feature includes an excellent entrance on Mallard Creek  in the center of parcel. The parcel’s northern edge that leads to a beautiful boulevard into the park.  would remain as traditional office. The panel recommends extending the existing boulevard through to W. T. Harris   oulevard and  B possibly to the southern edge of the park. The ex- tended boulevard could become the park’s central 18 An Advisory Services Panel Report
  20. 20. ImplementationT he panel’s proposal lays the ground work for  property assessments and focuses on the econom- transformation of the park into a thriving  ic vitality, promotion and advocacy, and planning master-planned community with a strong and study. business focus. The park’s stakeholders must take decisive steps to implement the panel’s vision  As the park’s reinvention proceeds, both organi-and create the park’s future.  zations will evolve and take on new responsibili- ties. UCP has already evolved by expanding the Adopt a Positive Attitude MSD to include the URP. The panel recommends  that University Research Park, Inc., evolve into First and foremost, the panel encourages all  an organization more like a property owners asso-stakeholders to adopt a positive attitude about the  ciation (POA) to implement the master plan. The park’s future. The stakeholders should refocus, re- POA should derive its authority from property energize, and reengage in a collaborative effort to  owners and tenants and be transparent, on thecreate a successful park. Focus should be given to  ground, and engaged. Both organizations will ben-building on assets and strengths—both tangible efit from the park’s success through increased as-and ephemeral. sessment revenue and, in turn, increased capacity.The stakeholders should work together to shape the existing organizational structure into one bet- Market the Parkter tailored to the task of establishing a forward- The master plan should help shape the park’s looking, next-century master plan and champion- brand and marketing strategies. The panel recom-ing its realization. With the right attitude, energy,  mends creating a new marketing and communica-and organizational horsepower, the stakehold- tion strategy that will educate target audiencesers—in particular the property owners and ten- about the park’s reinvention. The strategy will ants who have not before been involved in the likely use diverse channels, including traditional park’s governance—can make rapid progress in  media outreach, speakers bureaus, Web presence, reinventing the park.  advertising, events, and meetings. The panel also recommends using new directional, entrance, andUniversity City has the core ingredients neces- monument signs to carry the brand throughoutsary for transforming the park into the vibrant  the park.mixed-use business and industry center that it ispoised to become. Essential to getting there will  Marketing efforts should focus on the devel-be leveraging the collective belief that this should opment community, including brokers, inves-and could happen into action that will make it hap- tors, and others who will play an important rolepen. All individual stakeholders must consider  in achieving the park’s development goals. The their decisions in light of the larger community’s stakeholders could attract this audience through goals. Owners, tenants, institutional representa- social events in the park. Engaging the develop-tives, governmental entities, residents, and ser- ment community is key to attracting new users to vice providers all have a role to play. Participants the park and building the park’s presence in the must ask whether they are willing to be an advo- regional market.cate, ambassador, champion, and visionary. The marketing strategy should specifically fight  public perceptions about crime and demonstrateEvolve the Management that the park is a safe place to work. Tools for ad-University Research Park, Inc., is the not-for- dressing perceptions about crime may includeprofit developer that collects maintenance as- partnerships with the police to provide real crimesessments to maintain the rights-of-way and to statistics, better communication among privatereview site plans for new development. UCP is  security forces, and expansion of private securitythe municipal services district (MSD) that collects  resources.Charlotte, North Carolina, September 29–October 2, 2008 19
  21. 21. The marketing strategy should also promote  Take the Next Steps the park’s excellent electricity and fiber-optic  infrastructure. The panel recommends investi- Therefore, the immediate next steps that will cre- gating whether the park can provide a connec- ate early successes and ensure confidence in the tion to the Lambda Network, a next-generation  overall effort while demonstrating progress are high-capacity/high-speed Internet being used by  the following: universities. •  Solicit and hire the master planning consultant  team. Become an Economic Development Engine •  Evolve University Research Park, Inc., into a  POA to bring capacity to the table. Marketing efforts should expand to influence  economic development activities. The stakehold- •  Unveil the brand, and initiate the marketing  ers should identify a “go-to” person and place for  plan through the identification of the go-to information about the park, including land and  person and place. buildings available for sale or lease. The panel recommends creating a sales center that includes Make Everyone a Champion the offices of the POA/management organization.  At the sales center, any visitors should be able to  The park also needs a champion. Who should it  learn about the park’s characteristics, occupants,  be? The panel believes that all landowners, build- and vision. The sales center should be visible and ing owners, and tenants have a stake in the park’s  accessible and provide models, maps, brochures, future and should become champions. The new and copies of the master plan. POA, evolved from University Research Park,  Inc., should include all these players. The POA  The management organizations should strengthen  should work in concert with UCP to ensure that  existing economic development partnerships with the park’s development complements the develop- the city, the chamber of commerce, the region, the ment of the larger University City area.  state, and other private partners to ensure that the park maximizes its opportunities. In particu- What happens if the park continues with busi- lar, the park should maintain and grow important  ness as usual? Without painting a picture that is  relationships with the Charlotte Research Insti- too bleak, 100 years from now one could realisti- tute, the Ben Craig Center, and the North Caro- cally envision an overgrown tract of kudzu and de- lina Research Center. cay, lacking any active buildings. That possibility  will not help anyone in Charlotte. The opportunity  The park must effectively communicate and  exists now to reinvent the park with a long-term  market existing tools, such as subsidies and tax  perspective. Usually, difficult economic times incentives, and advocate for and secure addi- present significant opportunities. Today’s econom- tional, new and creative tools. Targeting spe- ic crisis may well qualify as a difficult time in the cific funding sources for specific needs, whether history of Charlotte and our nation. In that reality  to attract private investment or to invest in the lies a tremendous opportunity, and the panel in- park’s infrastructure, will be a core activity of all  vites everyone to champion this project. stakeholders. 20 An Advisory Services Panel Report
  22. 22. About the PanelZane Segal sory committee of Envision Houston Region, and  serves on the board of Blueprint Houston.Panel ChairHouston, Texas He has often spoken, written for publication, and  been quoted by the media concerning real estate,Segal is a developer, marketing consultant, and  development, urban design, and the arts. He is an licensed real estate broker with Zane Segal Proj- avid traveler, photographer, writer, and runner.ects. Knowledgeable in mixed-use, residential,commercial, historic, and hospitality properties, Jennifer Ballin both urban and resort locations, Segal has 30 years of experience in realty venture manage- Atlanta, Georgiament, project development, construction, broker- Ball is vice president of planning of Central Atlan-age, and marketing on a range of property types,  ta Progress, Inc., where she manages land use andincluding development sites, lofts, townhomes, transportation planning policy initiatives and im-low- and mid-rise condominiums, custom homes, plementation projects within downtown Atlanta. apartments, hotels, retail centers, office build- Recent notable initiatives under her direction in-ings, subdivisions, and sports facilities, as well as clude the development of the Imagine Downtown mixed-use projects incorporating several uses. vision plan, the Downtown Livability Code zoning He received a BS in humanities from the Massa- regulation update, and the ongoing implementa-chusetts Institute of Technology and an MFA in  tion of $35 million worth of public space capital im-cinema from the University of Southern California  provements, including streetscape improvements,and has studied graduate-level architecture and wayfinding signage, and roadway upgrades.planning at the University of Houston. He was first licensed as a real estate agent in 1982. She received a BS from the Georgia Institute of  Technology College of Architecture and a Master Segal has served on the Urban Land Institute  of City Planning also from Georgia Tech. She was Houston District Council board for the past seven  the recipient of the Frederick K. Bell Memorial years as vice chair of membership, advisory ser- Fellowship and the Georgia Planning Association vices, and urban plan. He has chaired three and  Student of the Year award.served on ten additional ULI Advisory Services Panels across the country, as well as chaired ULI Ball began her career with John Wieland Homes Houston’s first two Technical Assistance Program  as a marketing coordinator and then as a custom panels and served on another. He recently insti- home coordinator. Subsequently, she joined The gated and guided ULI Houston’s first Suburban  Preston Phillips Partnership (a medium-sized ar-Marketplace, the first such conference by any dis- chitectural and engineering firm specializing in trict council. retail projects) as a project assistant. Following  graduate school, she took a position with Robert He is a member of the City of Houston Planning  Charles Lesser & Co. as an associate and per-Commission Mixed Use/Transit Oriented Devel- formed real estate market research and analysis opment Committee, chaired its subcommittee on  for development projects and public sector rede-urbanization of the suburbs, served on the advi- velopment plans.Charlotte, North Carolina, September 29–October 2, 2008 21
  23. 23. In 2004, she was named a member of the Atlanta  with the growing number of investors and lenders Business Chronicle’s “Up and Comers: 40 under  whose portfolio investments in real estate are in- 40” group of promising young leaders. She has  creasingly evaluated on a national and global level. been an active member of the Urban Land Insti- This is her eighth ULI Advisory Services Panel. tute as a founding member of the Atlanta District  Council Young Leaders Group and a member of  Prior to establishing her independent real estate the membership committee. She is also a mem- advisory practice in 1993, Konikoff was direc- ber American Planning Association. She currently  tor of National Real Estate Valuation Services at  serves as the president of Georgia Tech College of  KPMG. She joined KPMG after having served as  Architecture Alumni Committee member and pre- president of The Hudson Group, a national real  viously served on the Georgia Tech Young Alum- estate consulting and appraisal firm. Previously, ni Council. She also volunteers at the Centennial  Konikoff had been an attorney in private practice  Olympic Park Visitor Center. at the Philadelphia law firm of Dilworth, Paxson,  Kalish & Kauffman, where she worked in both the  Ball has been a guest lecturer at Georgia Tech’s  real estate and corporate law practice areas. City and Regional Planning program and a pre- senter at national and local city planning confer- An adjunct professor at New York University,  ences on topics ranging from downtown economic she has taught graduate and undergraduate-level development and business improvements districts courses on real estate finance, real estate markets  to transportation planning and plan implementa- and real estate appraisal. She is an instructor for  tion. She has also authored an American Planning  the Appraisal Foundation as well, where she con- Association Planner’s Advisory Service Report on  ducts programs on standards of appraisal practice Street Vending.  and on professional appraisal ethical rules. In ad- dition, she develops and presents real estate valu- Paula Konikoff ation seminars for continuing education credits for CPAs and attorneys. Konikoff is a frequent speak- New York, New York er, author, and instructor on appraisal and other real property issues. She has also served as an ex- Konikoff is vice chair of the federal Appraisal  pert witness in a variety of cases in which real es- Standards Board and an independent professional  tate valuation and damages issues have come into real estate consultant with 25 years of experience  dispute. providing clients with advisory, valuation, and other real estate consulting services. The scope Konikoff has served as a member of several Ap- of her practice includes designing and conducting praisal Institute committees and other profession- due diligence investigations on properties, con- al organizations. She is also a member of the Real  ducting and evaluating property appraisals, and Property Law Committee of the Association of  advising private and public institutions (both own- the Bar of the City of New York. She earned a BS  ers and lenders) in connection with the acquisition,  from Temple University and a JD from Villano- development, and disposition of their real estate va University School of Law and holds an MAI  holdings, as well as their fit within a real estate designation. portfolio. Konikoff has been retained to provide such ser- Keith Maehlum vices concerning properties throughout the Unit- Seattle, Washington ed States and abroad. Her work on any particu- lar property or portfolio is informed by her broad Maehlum has been vice president of HAL Real  national and international experience, which en- Estate Investments, Inc., since 2004. HAL is  ables her to provide an unusually comprehensive a Seattle-based subsidiary of a $7 billion Euro- analysis that is particularly valuable when dealing pean public company based in Monaco, www.22 An Advisory Services Panel Report
  24. 24., that has been investing in the with a BA in business administration and earned a greater Puget Sound region of Washington state  master’s in real estate and urban analysis in 2002.since 1993. Projects include planning for mixed- Past employers include Stiles Development of use walkable communities, multifamily develop- Fort Lauderdale; Opus South, an operating com-ments, apartment to condominium conversions, pany of Opus Corporation, a national design/build mixed-use urban infill condominium projects, and firm with 28 offices across the country; and Panat-office campuses. toni Development Company, a privately held, full- service development company that has developedFrom 2002 to 2004, Maehlum was the president  and managed industrial, office, and retail facilitiesof his own development company, developing a in more than 150 markets.dense, compact multifamily infill project in Kirk-land, Washington. Previously, he was the presi- A dedicated and fast-track individual in all ven-dent of a real estate development and manage- tures he undertakes, Pryce has been recognized ment company in Kirkland from 1990 to 2002, with  and is the recipient of the prestigious ULI 2007 more than 30 multitenant office, retail, apart- Vision Award for Young Leader of the Year and ment, and new development properties with over is also a finalist of the South Florida Business 200 tenants. He was also an original member of  Journal/Nova Southeastern University 2007 Up the Kirkland Downtown Strategic Plan Commit- and Comers award. tee and served on the Bellevue CBD Planning Committee. Pryce’s professional affiliations include the Urban Land Institute, where he is a current member ofFrom 1985 to 1990, Maehlum was a project man- the South Florida/Caribbean District Council’s ager with Cabot, Cabot & Forbes in Bellevue,  Executive Committee, executive membership Washington. In addition, Maehlum created a start- chair, and former executive young leader chair.up architectural firm in 1983 and by 1985 grew the firm to a nine-member firm working on a variety  James T. Vivianoof commercial and residential developer projectsin several jurisdictions within Washington state.  Atlanta, Georgia Viviano is an associate director with the architec-Douette Pryce ture and design firm of Cooper Carry in Atlanta, St. Lucie West, Florida Georgia. He has over 23 years of experience as an  architect focusing primarily on retail and mixed-A veteran of the U.S. armed forces, Pryce has  use developments. Before beginning his career faced the challenges of his rigorous 17-year career  with Cooper Carry in the Washington, D.C./and is living what he considers the “American  Alexandria office in 1989, Viviano worked for dream”—entrepreneurship. In May 2008, he de- Skidmore, Owings & Merrill in both the Houston veloped his firm, Pryce Resources, LLC, a real es- and Washington, D.C., offices for four years. He tate development and investment advisory compa- left Cooper Carry in 1993 to independently prac-ny that uses the many attributes learned through tice architecture for two years in Alexandria, Vir-his career. His focus is on the research, develop- ginia, before accepting the position of director ofment, and management of feasible and sustainable design for the May Department Stores Company real estate projects. His career achievements have  at the corporate headquarters in St. Louis, Mis-honed his skills for troubleshooting a multitude  souri, in 1995. He rejoined Cooper Carry in At-of situations with a strict attention to detail and lanta in 2005. sure-fire solutions. Viviano’s career has allowed him to apply his ex-Pryce graduated from the Warrington College of  perience and strong design skills to many large-Business Administration, University of Florida,  scale, retail, and mixed-use projects across theCharlotte, North Carolina, September 29–October 2, 2008 23
  25. 25. country. Most notable are Mizner Park in Boca Raton, Florida; Bethesda Row in Maryland; and Metropolitan at Midtown in Charlotte, North Car-olina. He recently completed a sustainable master plan study for a transit-oriented development atthe Scaleybark light-rail station along South Bou-levard in Charlotte.In addition to being an active member of the Ur-ban Land Institute, Viviano is also involved withthe International Council of Shopping Centers, the American Institute of Architects, and the National Council of Architectural Registration Boards. He is a LEED-accredited professional.Charlotte, North Carolina, September 29–October 2, 2008 24
  26. 26. ULI–the Urban Land Institute1025 Thomas Jefferson Street, N.W. Printed on recycled paper.Suite 500 WestWashington, D.C. 20007-5201