Transportation Directions: Where Are We Heading? (Francine Waters) - ULI Fall Meeting 102611

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  • 1. “Transportation Directions: Where Are We Heading?” White Flint PartnershipAnd The Sustainable Transportation Corridor A Case Study Presented by Francine E. Waters October 26, 2011
  • 2. 22 Counties in the WashingtonMetropolitan Area 2
  • 3. State of Maryland Montgomery County 2010 Population: 971,777* 3
  • 4. Montgomery County Population DistributionThe base is the 1960’s wedges & corridors master plan showing where we would focus growth. The dots rep 100 people as reflected in the 2010 census. 4
  • 5. White FlintSector Plan Area: 430 Acres 5
  • 6. White Flint PartnershipMembers Saul Centers, Inc. Federal Realty Gables Residential Saul Centers, B.F. Saul The JBG Companies Inc. Saul Centers, Inc. Lerner Enterprises Lerner & Tower The Tower Companies 6
  • 7. White Flint Existing ConditionsImage From MNCPPC Planning StaffPresentation 7
  • 8. Developing a new Road Network for cars, pedestrians and bicyclists Approved Existing road network 10 Additional Lanes East/WestSource: Glatting Jackson, etal 6 Additional Lanes North/South 8
  • 9. DESIGN - PlacemakingEstablish a connection between land use,motorists, transit and bicycles 9
  • 10. Rockville Pike – 21st Century Boulevard A 21st Century Boulevard with street front retail, dedicated bike lanes and center lane dedicated rapid transit. 10
  • 11. Transit Oriented DevelopmentBicycles & Pedestrians a. Dedicated Bike Lanes b. Bike Racks c. Bike Valet d. Bike Sharing Program 11
  • 12. Transit Oriented DevelopmentBUS RAPID TRANSIT (BRT) 12
  • 13. Rapid Transit Improvements on a Sustainable Corridor – Rockville PikeThe entire White Flint communityof 430 acres will be within a 10minute walk of BRT.Support Existing Infrastructure:The White Flint Metrorail Station 13
  • 14. White Flint PartnershipWebsite 14
  • 15. Value Creation in White Flint 35 $20 Phase I Phase II Phase III $18 30 $16 25 $14 Square Feet (millions) Value (billions) $12 20 $10 15 $8 10 $6 $4 5 $2 - $- Year Existing New Development Value $1.3 Billion Net New Property Tax Revenue Generated (PV) 39,000 New JobsNote: Value assumes market rate per square foot of: existing retail $220, residential $375, office $440, hotel $450, retail $550. Assumes 3% annual growth rate. 15
  • 16. District Infrastructure Costs # Improvement Estimate Complete 1 Rockville Pike (Md 355) - Phase 1 $5,000,000 2013 2 Reopening of Old Old Georgetown Rd $34,907,000 2013 2 Market St & realignment of Executive Blvd $24,817,000 2014 3 Executive Blvd Ext (east) $16,700,000 2016 3 Nebel Street $8,200,000 2020 4 Bridge over Metro station $7,500,000 2020 5 Nicholson Lane1 (streetscape) Ph $12,942,000 2024 III 1 Rockville Pike (Md 355) - Phase 3 $59,261,000 2026 Total $169,327,000 2026 1 40% of estimated costs as an allowance to cover 40% of streetscape improvements (assumes remaining 60% covered by private sector) 2 Assumes utilities are publicly constructed. If privately constructed, utility work will cost approximately 33% more 16
  • 17. $601 million Total Infrastructure Cost in WhiteFlint… County $152 Developer $280 District $169 Developer District County …75% Funded by the Private Sector 17
  • 18. White Flint DevelopmentDistrict Tax• The White Flint Development District Tax Generates $154 million (present value) and/or $169 million (in future dollars). It is an ad valorem property tax to fund specific transportation infrastructure within White Flint billed at a rate of 10 cents per $100 of assessed value which began in July 2011. Cumulative Cash Flow $155 $140 $120 $100 millions $80 $60 $40 $20 $- Special Tax 18
  • 19. White Flint Science Triangle Science & Health Triangle 19
  • 20. Science & Health Triangle National Cancer Institute Health and Human Services Nuclear Regulatory Commission WHITE FLINT Food and Drug Administration Bethesda Naval & National Institutes of Health 20
  • 21. Rockville Pike – 21st Century BoulevardTree lined boulevard with wide sidewalks and permeable surfaces 21
  • 22. Thank You! White Flint Partnership Francine E. Waters fwaters@lerner.com www..whiteflintpartnership.com 2222