CASSADY CORNER Development Plan Development Team:  Prestige Partners Sean Clark Grant Guyuron Mark Harris Brian Mandel Sco...
Agenda <ul><li>Project Overview </li></ul><ul><li>Site Plan </li></ul><ul><li>Categories and Density of Uses </li></ul><ul...
Project Overview <ul><li>Cassady Corner Vision: </li></ul><ul><ul><li>To create a vibrant, safe and walkable mixed-use dev...
SWOT Analysis 04/18/11 Prestige Partners | Preliminary Development Plan | Cassady Corner Strengths Opportunities Existing ...
North Bexley Demographics 04/18/11 Prestige Partners | Preliminary Development Plan | Cassady Corner Population 1-mile rad...
Drive Time Map 04/18/11 Prestige Partners | Preliminary Development Plan | Cassady Corner
Neighborhood Retail Needs <ul><li>Anchors </li></ul><ul><ul><li>Supermarket </li></ul></ul><ul><ul><li>Drugstore </li></ul...
Development Blocks
04/18/11 <ul><li>As few phases as possible </li></ul><ul><ul><li>Cuts costs </li></ul></ul><ul><ul><li>Critical mass </li>...
Design Concepts <ul><li>Maximize  walkability </li></ul><ul><ul><li>Buildings on the street </li></ul></ul><ul><ul><li>Par...
Difficulties <ul><li>Parking </li></ul><ul><ul><ul><li>shallow buildings with continuous edges </li></ul></ul></ul><ul><ul...
Site Plan – Land Use Efficiency 04/18/11 Prestige Partners | Development Plan | Cassady Corner Existing Land Use Square Fo...
Phase 1 –  Food Block (existing) 04/18/11 Prestige Partners | Development Plan | Cassady Corner
Phase 1 –  Food Block (proposed) 04/18/11 Prestige Partners | Development Plan | Cassady Corner <ul><li>15,000 SF Food/ Re...
Phase 1 –  Food Block (proposed) 04/18/11 Prestige Partners | Development Plan | Cassady Corner
Phase 1 – Wellness Block (existing) 04/18/11 Prestige Partners | Development Plan | Cassady Corner
Phase 1 – Wellness Block (proposed) 04/18/11 Prestige Partners | Development Plan | Cassady Corner <ul><li>14,000 SF Medic...
Phase 1 – Wellness Block (proposed) 04/18/11 Prestige Partners | Development Plan | Cassady Corner
Phase 1 –  Retail/Office (existing) 04/18/11 Prestige Partners | Development Plan | Cassady Corner
Phase 1 –  Retail/Office (proposed) 04/18/11 Prestige Partners | Development Plan | Cassady Corner <ul><li>8,000 SF Retail...
Phase 1 –  Retail/Office (proposed) 04/18/11 Prestige Partners | Development Plan | Cassady Corner
Phase 1 –  Retail/Office (back-up) 04/18/11 Prestige Partners | Development Plan | Cassady Corner
Phase 2 –  Residential/Retail (existing) 04/18/11 Prestige Partners | Development Plan | Cassady Corner
Phase 2 –  Residential/Retail (proposed) 04/18/11 Prestige Partners | Development Plan | Cassady Corner <ul><li>9,300 SF R...
Phase 2 –  Residential/Retail (proposed) 04/18/11 Prestige Partners | Development Plan | Cassady Corner
Phase 2 –  Civic Block (existing) 04/18/11 Prestige Partners | Preliminary Development Plan | Cassady Corner
Phase 2 –  Civic Block (proposed) 04/18/11 Prestige Partners | Preliminary Development Plan | Cassady Corner <ul><li>10,00...
Phase 2 –  Civic Block (proposed) 04/18/11 Prestige Partners | Preliminary Development Plan | Cassady Corner
Zoning / Regulatory <ul><li>No front setbacks </li></ul><ul><ul><li>Rear may be necessary to manage alley clearance </li><...
Financial Incentives / Infrastructure <ul><li>How to improve the Columbus side of Cassady? </li></ul><ul><li>TIF – Tax Inc...
Timeline <ul><li>Based on experience of  Plaza Properties , developer of Bexley Gateway </li></ul>
Financial Plan <ul><li>See Excel spreadsheet </li></ul>
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"Cassady Corner" Development Plan for the City of Bexley, Ohio

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This presentation was prepared for a real estate studio class at The Ohio State University. The class matched City & Regional Planning students with MBA students to prepare a development and financing plan for the redevelopment of an aging commercial strip corridor in Bexley, Ohio.

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"Cassady Corner" Development Plan for the City of Bexley, Ohio

  1. 1. CASSADY CORNER Development Plan Development Team: Prestige Partners Sean Clark Grant Guyuron Mark Harris Brian Mandel Scott Ulrich
  2. 2. Agenda <ul><li>Project Overview </li></ul><ul><li>Site Plan </li></ul><ul><li>Categories and Density of Uses </li></ul><ul><li>Market Research </li></ul><ul><li>Critical Timeline </li></ul><ul><li>Questions </li></ul>04/18/11 Prestige Partners | Development Plan | Cassady Corner
  3. 3. Project Overview <ul><li>Cassady Corner Vision: </li></ul><ul><ul><li>To create a vibrant, safe and walkable mixed-use development that serves the needs of the North Bexley Community. </li></ul></ul><ul><li>Current conditions of North Cassady </li></ul><ul><li>Community needs </li></ul>04/18/11 Prestige Partners | Development Plan | Cassady Corner
  4. 4. SWOT Analysis 04/18/11 Prestige Partners | Preliminary Development Plan | Cassady Corner Strengths Opportunities Existing customers in Cassady North Apts. Wealthy educated homeowners west of Cassady Bexley Coffee Shop No neighborhood retail in 1-mile radius Bexley Natural Market Medical practitioners eager to serve Bexley High traffic count on Cassady Ave. Older Bexley residents want to retire in Bexley Infrastructure already exists Young middle income families east of Cassady Weaknesses Threats Obsolete buildings Weak real estate market Fractured parcel ownership Perception as part of Columbus, not Bexley Railroad noise Decline in market position over time Shallow lots Possible environmental remediation of sites
  5. 5. North Bexley Demographics 04/18/11 Prestige Partners | Preliminary Development Plan | Cassady Corner Population 1-mile radius 2-mile radius 3-mile radius Population (2009) 14,241 44,361 100,474 Pop. (2014 est.) 13,524 42,947 97,072 2009 Median Age 35.39 35.52 35.18 Pop. under 18 28.97% 27.16% 27.86% Pop. over 65 13.87% 13.07% 12.96% Bachelor’s degrees 35.7% 29.33% 20.81% Avg. HH Income $64,702.18 $56,871.41 $47,763.84 HH with children 34.83% 30.8% 30.15%
  6. 6. Drive Time Map 04/18/11 Prestige Partners | Preliminary Development Plan | Cassady Corner
  7. 7. Neighborhood Retail Needs <ul><li>Anchors </li></ul><ul><ul><li>Supermarket </li></ul></ul><ul><ul><li>Drugstore </li></ul></ul><ul><ul><li>Restaurant </li></ul></ul><ul><ul><li>Hardware store </li></ul></ul><ul><li>Other retail uses </li></ul><ul><ul><li>Offices (medical, dental) </li></ul></ul><ul><ul><li>Clothing and accessories (women’s ready-to-wear or specialty, shoes) </li></ul></ul><ul><ul><li>Gifts/specialty (cards, flowers, gifts, jewelry) </li></ul></ul><ul><ul><li>Other retail (eyeglasses, beauty supply) </li></ul></ul><ul><ul><li>Personal services (hair/nail, dry cleaner) </li></ul></ul>04/18/11 Prestige Partners | Preliminary Development Plan | Cassady Corner
  8. 8. Development Blocks
  9. 9. 04/18/11 <ul><li>As few phases as possible </li></ul><ul><ul><li>Cuts costs </li></ul></ul><ul><ul><li>Critical mass </li></ul></ul><ul><li>Start with south side </li></ul><ul><ul><li>Most underutilized </li></ul></ul><ul><ul><li>Eliminates the risk </li></ul></ul><ul><ul><li>Preserves viable businesses </li></ul></ul><ul><ul><ul><li>Coffee shop, Natural Market, massage therapists </li></ul></ul></ul>Phasing
  10. 10. Design Concepts <ul><li>Maximize walkability </li></ul><ul><ul><li>Buildings on the street </li></ul></ul><ul><ul><li>Parking in back </li></ul></ul><ul><ul><li>* Wider sidewalks * </li></ul></ul><ul><li>Reinforce identity </li></ul><ul><ul><li>Hard corners </li></ul></ul><ul><li>Reflect character </li></ul><ul><ul><li>1-3 stories </li></ul></ul><ul><ul><li>Long, continuous edges </li></ul></ul><ul><li>Create vitality </li></ul><ul><ul><li>Retail on bottom floors </li></ul></ul>04/18/11 Prestige Partners | Development Plan | Cassady Corner
  11. 11. Difficulties <ul><li>Parking </li></ul><ul><ul><ul><li>shallow buildings with continuous edges </li></ul></ul></ul><ul><ul><ul><li>deeper buildings with lack of continuity </li></ul></ul></ul><ul><ul><ul><li>All parking on edges and buildings on middle parcels </li></ul></ul></ul><ul><li>Possibilities: </li></ul><ul><ul><li>Shared parking schemes </li></ul></ul><ul><ul><li>Reduced parking requirements </li></ul></ul>04/18/11 Prestige Partners | Development Plan | Cassady Corner
  12. 12. Site Plan – Land Use Efficiency 04/18/11 Prestige Partners | Development Plan | Cassady Corner Existing Land Use Square Footage Proposed Land Use Square Footage Existing Residential 12,616 Proposed Residential 18,600 Existing Retail/Service 15,520 Proposed Retail/Service 20,050 Existing Medical/Wellness 3,118 Proposed Medical/Wellness 14,000 Existing Office 1,395 Proposed Office 10,750 Existing Total 32,649 Proposed Total 63,400
  13. 13. Phase 1 – Food Block (existing) 04/18/11 Prestige Partners | Development Plan | Cassady Corner
  14. 14. Phase 1 – Food Block (proposed) 04/18/11 Prestige Partners | Development Plan | Cassady Corner <ul><li>15,000 SF Food/ Retail </li></ul><ul><li>1 Story </li></ul>
  15. 15. Phase 1 – Food Block (proposed) 04/18/11 Prestige Partners | Development Plan | Cassady Corner
  16. 16. Phase 1 – Wellness Block (existing) 04/18/11 Prestige Partners | Development Plan | Cassady Corner
  17. 17. Phase 1 – Wellness Block (proposed) 04/18/11 Prestige Partners | Development Plan | Cassady Corner <ul><li>14,000 SF Medical Offices </li></ul><ul><li>1 Story </li></ul>
  18. 18. Phase 1 – Wellness Block (proposed) 04/18/11 Prestige Partners | Development Plan | Cassady Corner
  19. 19. Phase 1 – Retail/Office (existing) 04/18/11 Prestige Partners | Development Plan | Cassady Corner
  20. 20. Phase 1 – Retail/Office (proposed) 04/18/11 Prestige Partners | Development Plan | Cassady Corner <ul><li>8,000 SF Retail First Floor </li></ul><ul><li>8,000 SF Office Second Floor </li></ul><ul><li>8,400 SF Public Park/Greenspace </li></ul>
  21. 21. Phase 1 – Retail/Office (proposed) 04/18/11 Prestige Partners | Development Plan | Cassady Corner
  22. 22. Phase 1 – Retail/Office (back-up) 04/18/11 Prestige Partners | Development Plan | Cassady Corner
  23. 23. Phase 2 – Residential/Retail (existing) 04/18/11 Prestige Partners | Development Plan | Cassady Corner
  24. 24. Phase 2 – Residential/Retail (proposed) 04/18/11 Prestige Partners | Development Plan | Cassady Corner <ul><li>9,300 SF Retail First Floor </li></ul><ul><li>18,600 SF Residential 2 nd /3 rd Floors </li></ul>
  25. 25. Phase 2 – Residential/Retail (proposed) 04/18/11 Prestige Partners | Development Plan | Cassady Corner
  26. 26. Phase 2 – Civic Block (existing) 04/18/11 Prestige Partners | Preliminary Development Plan | Cassady Corner
  27. 27. Phase 2 – Civic Block (proposed) 04/18/11 Prestige Partners | Preliminary Development Plan | Cassady Corner <ul><li>10,000 SF Civic First Floor </li></ul><ul><li>1 Story </li></ul><ul><li>Preserving Community Housing Partners </li></ul><ul><li>Re-aligned Delmar Drive (within existing right-of-way) </li></ul>
  28. 28. Phase 2 – Civic Block (proposed) 04/18/11 Prestige Partners | Preliminary Development Plan | Cassady Corner
  29. 29. Zoning / Regulatory <ul><li>No front setbacks </li></ul><ul><ul><li>Rear may be necessary to manage alley clearance </li></ul></ul><ul><li>Instead, build-to line </li></ul><ul><li>More flexible use restrictions </li></ul><ul><ul><li>“ Office Commercial” vs. “Neighborhood Commercial” vs. “Low Density Multi-Family Residential” </li></ul></ul><ul><ul><li>> “Mixed Use Neighborhood Center” < </li></ul></ul><ul><li>Allow three-story </li></ul><ul><li>Main Street Design Guidelines </li></ul><ul><ul><li>Shielding street-fronting parking lots </li></ul></ul><ul><ul><li>Ensuring vertical variation on long buildings </li></ul></ul><ul><ul><li>Passageways to access parking lots </li></ul></ul>04/18/11 Prestige Partners | Preliminary Development Plan | Cassady Corner
  30. 30. Financial Incentives / Infrastructure <ul><li>How to improve the Columbus side of Cassady? </li></ul><ul><li>TIF – Tax Increment Financing </li></ul><ul><ul><li>Pools increased property values from redevelopment on Bexley side, contributes to infrastructure improvements on both sides </li></ul></ul><ul><li>Complications: </li></ul><ul><ul><li>CRA – Community Reinvestment Area </li></ul></ul><ul><ul><ul><li>Tax abatements reduce pool of funds </li></ul></ul></ul><ul><ul><li>JEDD – Joint Economic Development District </li></ul></ul>04/18/11 Prestige Partners | Preliminary Development Plan | Cassady Corner
  31. 31. Timeline <ul><li>Based on experience of Plaza Properties , developer of Bexley Gateway </li></ul>
  32. 32. Financial Plan <ul><li>See Excel spreadsheet </li></ul>
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