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Nj future redevelopment forum 2014 suburbs passanante

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Nj future redevelopment forum 2014 suburbs passanante

  1. 1. Borough of Somerdale CooperTowne Center (formerly Lion’s Head Plaza) Redevelopment Project
  2. 2. Background  Developed – 1988  52 Acres  230,000 S.F.  Two Anchors:  Caldor  Foodtown Kennedy Blvd.
  3. 3. Economic Analysis  History:  Assessment  1988: $10.5 Million  1994: $8 Million  1999: $10.3 Million  2005: $7 Million
  4. 4. Economic Analysis  History:  Local Tax Revenue  1988: $80,453  1994: $86,159  1999: $90,423  2005: $69,860
  5. 5. Economic Analysis  Jobs:  1988: 300  2005: 100
  6. 6.  Population: 5,192*  4.6% Decrease 1990-2000  2% Decrease 2000-2010  9.3% Decrease 2000-2025  Employment*  4% Decrease by 2025 (80 jobs)  Housing**  Median Housing Price:  Somerdale: $97,700  Camden County: $111,200 Demographic Analysis *Source: DVRPC **Source: US Census 2000
  7. 7. Conclusion  High Vacancy/Declining Tax Revenue  Job Loss  Population Decline  Limited Housing  Municipal Action
  8. 8. Municipal Options  Do Nothing  Fill Space As Is  Creative Solutions  Increase Value  Public Amenities  Improve Quality of Life
  9. 9. Municipal Tools  Greyfields Grant  Redevelopment Designation  Development Guidelines and Standards  Tax Increment Financing  Payment In Lieu Of Taxes (PILOT)
  10. 10. Vision Plan Project Team
  11. 11. Project Implementation Team
  12. 12. Preliminary Redevelopment Design Issues / Constraints • Poor Access / Rt. 30 Traffic Light
  13. 13. Preliminary Redevelopment Design Issues / Constraints • Poor Access / Rt. 30 Traffic Light • Poor Highway Visibility: Location and Elevation
  14. 14. Preliminary Redevelopment Design Issues / Constraints • Poor Access / Rt. 30 Traffic Light • Poor Highway Visibility: Location and Elevation • Underutilized Site
  15. 15. Preliminary Redevelopment Design Issues / Constraints • Poor Access / Rt. 30 Traffic Light • Poor Highway Visibility: Location and Elevation • Underutilized Site • Out-Moded Design: Lack of Architectural Character
  16. 16. Preliminary Redevelopment Design Issues / Constraints • Poor Access / Rt. 30 Traffic Light • Poor Highway Visibility: Location and Elevation • Underutilized Site • Out-Moded Design: Lack of Architectural Character • Topography / Wetlands Constraints
  17. 17.  NJ DEP Permitting  Coordination – Magnolia  Coordination – Owners  Parcel Assemblage Other Challenges
  18. 18. Opportunities  Geographic  Route 295: (2 miles)  PATCO Speedline (1/2 mile)  Borders Route 30  Kennedy Boulevard – Main Street
  19. 19.  Economic*  Retail: 1 Million Square Feet  Market-Rate Townhomes/Condos: 120 units annually  Age-Restricted Townhomes/Condos: 80 units annually *WHP Market Feasibility Study Opportunities
  20. 20.  Lion’s Head Site  Underutilized/Adjacent Parcels  Utility Infrastructure and Capacity  Linkage-Town Hall via Kennedy Boulevard  Transportation Linkages  NJ Transit Bus Routes  PATCO Speedline  Redevelopment Designation  January 2003 Opportunities
  21. 21. Public Visioning Forum
  22. 22. Existing Conditions – Vision Plan Goals (2005)
  23. 23. Existing / 2005 Implementation 2008 - 2012 1 Underutilized Retail Center (Lions Head Plaza) -230,000 sq ft , 70% vacant Mixed Use Center (CooperTowne Center) - Retail, plaza spaces - Market Rate Town Homes - COAH Apartments - Completed or Under Construction 2 Underutilized, Wide Industrial Road (Kennedy Boulevard) Parade Route - Anchored by CooperTowne Center & Borough Hall - Infill development along route - Partially Complete-Balance Under Construction 3 Defunct Park along Industrial Road Revitalized Park and New Community Center (2015/16) 4 Inaccessible Wooded Area & Creek (Cooper Creek) CooperTowne Waterfront Greenway (2016/17) 5 Route 30 Strip Retail Highway (White Horse Pike) Sign & Architectural Standards, Traffic Calming Complete Implementation Plan (2008 - 2017)
  24. 24. Area Analysis 1: CONTEXT Context - 2 Sq. Miles: Magnolia • Municipalities Somerdale Voorhees Cherry Hill Lawnside • Landmarks Lion’s Head Plaza Somerdale Park School Somerdale Borough Hall Echelon Mall PATCO - Ashland Station“The Coliseum” Lion’s Head Plaza Somerdale Park School Somerdale Borough Hall Echelon Mall Ashland Station “The Coliseum” Cooper River
  25. 25. Area Analysis 2: TRANSPORTATION Major Roads: White Horse Pike (Rt. 30) Evesham Road Burnt Mill Road Somerdale Road NJ Transit: PATCO - Ashland Station - ½ Mile From Focus Area Traffic Lights / Major Intersections: NJ Transit Bus Routes Focus Area: Evergreen Avenue Crestwood Avenue Lion’s Head Redev. Area - 51.98 Acres Washington Avenue
  26. 26. Area Analysis 3: LAND USE Lion’s Head Plaza Ashland Station Somerdale Borough Hall Echelon Mall Land Uses: Retail Residential Civic/Public Industrial Wetland/Forest
  27. 27. Area Analysis 4: NATURAL AREAS Natural Areas: Wetlands Forest Public Parks
  28. 28. Area Analysis 5: SCALE Pedestrian Nodes: • Lion’s Head Plaza • Somerdale Borough Hall • Echelon Mall • PATCO - Ashland Station Lion’s Head Plaza Somerdale Borough Hall PATCO - Ashland Station Echelon Mall • Circle Radius = ¼” Mile
  29. 29. 1. “Incremental” Approach  Improve Existing Center Preliminary Redevelopment Design Concepts 2. “Outside the Box” Approach  Create a Mixed-Use Center/Weighted Residential3. “Major Retail Center” Approach  Increase Retail Ratables / Reduced Residential
  30. 30. Preliminary Redevelopment Design Local Models Lion’s Head Plaza Downtown Haddonfield “The Promenade”
  31. 31. Preliminary Redevelopment Design National Models Mashpee Commons, MA
  32. 32. Preliminary Redevelopment Design National Models Winter Park, FL
  33. 33. Design Concepts / Public Input + Existing Retail Transformed to CooperTowne Center
  34. 34. Existing Retail Transformed to CooperTowne Center
  35. 35. Parade Route to Borough Hall Existing Retail Transformed to CooperTowne Center
  36. 36. CooperTowne Center – Implementation (Big Box Anchor)
  37. 37. Today:2005: ‐ CooperTowne Center – Implementation (Main Retail Center)
  38. 38. Today:2005: CooperTowne Center – Implementation (Main Retail Center)
  39. 39. $6 million CooperTowne COAH Units CooperTowne Center – Implementation (Affordable Housing)
  40. 40. $24 million CooperTowne Village – 122 market rate town homes CooperTowne Center – Implementation (Market Rate Housing)
  41. 41. Before After $1.5 Million Kennedy Boulevard Streetscape Landscaping and Parade Route CooperTowne Center – Implementation (Main Street Creation)
  42. 42. Building programming & recreational uses from community input: • Skate park • Amphitheater • Bocce Ball • Horse Shoes • Playground • Community Gardens • Soccer CooperTowne Center – Implementation (Park & Community Center)
  43. 43. Potential:Existing: CooperTowne Center – Implementation (Cooper Creek Greenway)
  44. 44. The All New CooperTowne Center Market Rate Affordable Business District Big Box Small Retail & Restaurant Main Street Parks
  45. 45. Job Creation  Jobs:  1988: 300  2005: 100  2014 : 800
  46. 46. Projected Revenue Model  Commercial  Assessment  367,000 S.F. @ $100/S.F. = $36,700,000  Residential  Assessment  122 Units @ $200,000/Unit = $24,400,000  30 Units (COAH) = $6,000,000  Total Assessment = $67,100,000 2005 Assessment - $ 7,000,000 2017 Projected - $67,100,000 Projected Increase - $60,100,000
  47. 47. Projected Revenue Model  2004 Tax Revenue - $251,300  2017 Projected Tax Revenue Total  Residential & Commercial - $2,645,600 Projected Incremental Tax Revenue = $2,394,300
  48. 48. Secrets of Success  Established & Followed a Detailed Master Redevelopment Plan that was Flexible & Allowed Change  Hired an Architect/Planner to Develop the Plan  Engaged the Community at the Outset to Develop the Plan  Committed to an individual or firm to spearhead Economic Development  Retained the original Administration throughout the 10 year process
  49. 49. Thank You!

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