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RV 2014: Stimulate Investment Using Publicly Owned Property


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Stimulate Investment Using Publicly Owned Property

How do you implement successful TOD on publicly owned parcels? Hear how three cities -- Boston, Seattle and Atlanta -- are doing it. From hundred-year-old systems in Boston to new light rail extensions in downtown Seattle, these cities are grappling with opportunities and hurdles. How do they ensure equitable development that serves people who live and work in these station areas? How are they maximizing publicly owned land to create the successful station areas of tomorrow? Three different scenarios. Countless strategies.

Moderator: Eric Halvorsen, Assistant Director of Transportation, Metropolitan Area Planning Council, Boston, Massachusetts
Ryan Curren, Program Manager, City of Seattle, Washington
Francis X. DeCoste Jr., Chief Operating Officer, TR Advisors LLC, Boston, Massachusetts
Jared Lombard, AICP, Principal Planner, Atlanta Regional Council, Atlanta, Georgia
Sarah Lovell, Senior TOD Analyst, Sound Transit, Seattle, Washington

Published in: Real Estate
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RV 2014: Stimulate Investment Using Publicly Owned Property

  1. 1. A Partnership for Equitable TOD
  2. 2. Best Practices and Benefits Best Practices Benefits Align and orient policy toward each others TOD goals without mission creep Increased feasibility of projects Work with community to identify desired TOD outcomes upfront where possible Achieve neighborhood plan goals Provide opportunities to review each other’s work Increased ridership Joint problem solving and established communication structures Community building Share project risk Public will for future affordable housing levy and transit expansion ballot measures Joint RFPs and selection processes Trust between partners and a better understanding of how to work together
  3. 3. Project Overview – Capitol Hill • 5 development sites – 4 in current procurement • Minimum of 397 units • Required participation in the MFTE program for all market rate buildings – results in 20% affordable for 12 years. • Site B-north is affordable at or below 60% AMI for 50 years. • Large publicly accessible plaza built to suit the Broadway Farmers Market • Ability to include community center without impacting available FAR • Favorable scoring for retail strategy that includes flexible space and smaller retailers • Parking at or below .7 for residential • LEED Silver/ Evergreen Standard at minimum • Denny Way is a Festival Street
  4. 4. •Sound Transit had existing policies that related to TOD, but no single policy that directed how and when engagement by TOD staff would begin •The City of Seattle had no TOD implementation policy and limited implementation capacity •Federal funding in the dirt required ST not give up Fair Market Value. In practice this was complicated. •Zoning regulations were updated concurrent with TOD process – extended the process Policy – Capitol Hill TOD
  5. 5. Relationship – Capitol Hill TOD ST – City of Seattle ST- Sea - Community Timing of the Comp plan update got the project off to an awkward start Very vocal and well organized community and Public Development Authority (The Champion) Challenging communication between ST and the City obscured project goals Community expectations about their level of involvement was out of sync with Sound Transit’s Sound Transit’s tight schedule for project delivery of the light rail station added complication. Conflicting goals necessitated pauses in negotiations to elevate discussion to leadership Frequent communication, understanding of each others constrains, shared process and defined roles helped tremendously
  6. 6. Mechanics – Capitol Hill TOD ST lead public outreach beginning in 2006 City updated comp plan through Urban Design Framework in 2010 City guaranteed acquisition funding for 100% affordable site ST created a Coordinated Development plan 2013 City and ST Negotiated the Development Agreement signed in 2013 Collaboration on RFQ/RFP structure/scoring 2013-2014 Co-developed elements of the RFP 2013 - 2014 Joint selection panel 2014
  7. 7. • A successful partnership between the City and ST that achieves great affordability, while achieving ST goals and other community goals • 38% of units affordable for 12 years, 22% affordable for 50 years • Tremendous public amenities while adding riders to the station and not diminishing ST’s fair market value Benefits – Capitol Hill TOD Dedicated 100% affordable housing Denny Festival Street Amenity Areas in CDP
  8. 8. • ST owned a 34,000 sf site adjacent to a Transit Power Sub Station and the station • Required an LBA and permitting of additional access to the TPSS • In negotiations to build 108 units. More than half are family-sized • One tower at 30% AMI the other at 60% AMI • 10,000 sf Commercial space with Tenant • Support services and amenity areas for residents • Parking below .7 Project Overview- Othello
  9. 9. • In 2012 ST adopted a new TOD policy directing early and continual engagement by TOD staff and defined the agency’s role in agency owned property development and land not owned by ST • City created Equitable TOD Loan Program with HUD Challenge Grant to acquire vacant property near light rail. • 2010 Othello Neighborhood Plan goal to activate vacant parcels. Policy – Othello TOD Othello Neighborhood Plan
  10. 10. • 2010 City neighborhood planning effort engaged over 2,000 residents (80% people of color) • Mayor and ST Executive created a TOD Steering Committee which prioritized Othello • Planning Department helped ST with permitting activities needed to ready site • Office of Housing guaranteed acquisition funding • Sound Transit accelerated the disposition process by 3 years Relationship – Othello TOD Othello Neighborhood Plan Public Process
  11. 11. • City funded acquisition, ST advanced schedule • Both parties synced their schedules to make the project feasible. • Collaboration on RFP creation. • Joint selection process. • Coordination through the purchase and sale discussions. Mechanics – Othello TOD
  12. 12. • 108 workforce housing units (over half family- sized) and 10,000 SF of commercial space. • Implementation of the Neighborhood Plan • Additional residents/ train riders • A successfully permitted change to the adjacent operations facility. • A successful TOD ahead of ST’s initial timeline. • Implementation of ST’s TOD Strategic Plan and Policy. Benefits – Othello TOD
  13. 13. Contacts Sarah Lovell Ryan Curren