Mixed use that has transformed a city: Morrison

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Clay grubb, Mixed use that has transformed a city: Morrison

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Mixed use that has transformed a city: Morrison

  1. 1. MIXED USE THAT HASTRANSFORMED A CITY: MORRISON 1
  2. 2. COMPANY HISTORYIn 1909 Clay Grubb, great‐grandfather of current generation, developed one of the first steel and concrete high‐rises in North Carolina ( f th fi t t l d t hi h i i N th C li (pictured) )Established 49 Year Company History (since 1963)Vertically Integrated Real Estate Company y g p y Acquisitions, Property / Asset Management, Brokerage, Development, ConstructionSoutheast Footprint – Properties in NC, SC, GA, TN, FL, MS, and VAStrong Lender Relationships and Track Record Relationships with over 25 different lendersProven Co‐Investment Partner with Institutional Investors Relationships with over 35 different institutionsStrong & Disciplined Transaction History  Successful, Unblemished Multifamily & Office Acquisition Performance over 2 decades The Plaza Building – Salisbury, NC Developed several of North Carolina’s Landmarks Completed in 1909 by Henry Clay Grubb 2
  3. 3. MIXED USE EXPERIENCEElizabeth Avenue 1523 Elizabeth Avenue  Latta PavilionRatcliffe  Glen Lennox 3
  4. 4. ABOUT MORRISONLocated in Southpark Neighborhood of CharlotteLocated in Southpark Neighborhood of CharlottePreviously 2 apartment communities and cemeteryBuilt in 2004‐200813 of 26 acres  developed13 of 26 acres developedIncludes 119 Condominiums, 214 Apartments, and 140,000 square feet of Retail 4
  5. 5. RETAIL STRATEGY Lease and build anchor tenants first Location of anchors is crucial Diversify tenants Earthfare Barnes  &Noble 5
  6. 6. PARKING Shared parking to reduce total spaces  needed  needed Balance of deck and surface parking Regulated on‐street parking in front of retail 6
  7. 7. NEIGHBORHOOD INVOLVEMENT Embraced neighborhood early in  entitlement process process  Involved community groups, like NWS, in  construction period Multiple events to bring neighborhood  M lti l t t bi i hb h d together Connected residential and retail tenants  A Taste for Fashion Fitness Challenge through Club Morrison program through Club Morrison program NWS Art Event 7
  8. 8. COMMUNITY ASSETS 2.2 acres of land donated to Grubb Preservation Foundation, containing Historic African  American Cemetery dating back to late 1860’s y g Deed restricted the entire site so that any resell resulted in a contribution of ¼ of 1% of  the sales price to the Grubb Preservation Foundation  Site will be park space and a historic landmark attraction Jogging trail throughout property Paved portion of trail (Above) St. Lloyds Presbyterian Cemetery site  marked off for clean‐up (Right) Historic fieldstone grave marker (Left) Donated land  approximately outlined  in red 8
  9. 9. BUILDING MASS Located buildings with lower heights close to street to create a  human scale pedestrian realm  Reached density goals by locating taller buildings in back of site 8 5 12 4 6 2 2# = Number of stories 9
  10. 10. DESIGN QUALITY Quality design and building materials last  Master declaration in place to maintain consistent well‐designed community 10
  11. 11. NEXT PHASE – SIGNATURE RESIDENCES Legacy architecture created by nationally recognized architect,  Robert A. Stern Luxury homes with custom interior design Private and community‐wide outdoor spaces Concierge amenities, including primary care  C i iti i l di i health services from Signature Healthcare Walk‐able urban community supporting a sustainable lifestyle A new benchmark standard of housing, transforming luxury  A b h k t d d fh i t f i l living in Charlotte 11
  12. 12. CONCLUSION THE MORRISON COMMUNITY  Tract 1 – Completed Development l d l • Morrison Retail Shops and Restaurants  • 721 Morrison Apartment Homes • Morrison Condominium Homes • The Lofts at Morrison Condominium Homes Tract 2  T t2 Preservation • Specialty Medical Office or Phase II Apartments Area 1 • Structured Parking  Tract 3  • Signature Residences • Signature Healthcare Signature Healthcare • Signature Wellness Center • Structured Parking Tract 4 • Hotel & Restaurant  Preservation Area1  • Grubb Preservation Foundation – 2.2 acre land preserve Preservation Area 2 Preservation • Future Preservation Area – 1.5 acre land preserve TRACT 4 Area 2 Clay Grubb • cgrubb@grubbproperties.com • 704.405.5146  12
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