Perry reader, What Is the Recipe for Community Development-Let's Stir the Pot
What Is the Recipe forCommunityDevelopment?Let’s Stir the PotULI Spring Meeting 2012Charlotte, NCPerry J. ReaderPresident
Portfolio ProjectsCelebrationMixed Use -Traditional Neighborhood CommunityCelebration, FloridaAn innovative, real town created by the Walt Disney Company thatsuccessfully combined architecture, education, health and technology inways that attracted outstanding results in the market. Today, Celebrationis home to over 11,000 residents, a vibrant town center and still visited bymillions of people from around the world. Its planning and execution set theNew Urbanist movement in full motion as it was the first major project of itskind undertaken to include residential, retail, institutional and office usesall within its 2,500 acre master plan.Baldwin ParkMixed Use -Traditional Neighborhood CommunityOrlando, FloridaBaldwin Park is an award-winning neighborhood created to be a livable, walk- Vieraable project just east of downtown Orlando, Florida. Built on the site of a A Master Planned Newformer Naval Training Center, the 1,100-acre neighborhood today is home to Town8,000 residents and more than 125 businesses. The City of Orlando awarded Viera, Floridathe project’s development to Atlantic Gulf/Orlando Partners after an extensive A 38,000 acre ranch whichcompetition based on their design which included a wide range of housing, started development in theschools, parks, lakes, shops and other community features. early 90’s that has grown into a full-scale new town complete with everything from Major League Baseball to the Brevard Zoo. Today, it is home to over 25,000 residents.
Select Current ProjectsBethpageMaster Planned CommunityRaleigh, North CarolinaLocated between the Research Triangle Park (RTP) and the Raleigh-Durham International Airport (RDU), the property is mostly wooded andfeatures a network of streams. The proposed development includes 1,300residential units, a 20 acre retail site and an affiliated office park. Theproduct mix and master plan incorporates conventional and traditionalneighborhood design principles. The multiple residential products appealto different segments of the market incorporating rental and for saleproducts in order to increase absorption .2011.Wildwood SpringsMaster Planned CommunityWildwood, FloridaWildwood Springs is a 1,046 acre ranch locatedapproximately 50 miles northwest of Orlando inWildwood, Florida. The master plan includes over3,000 residential units and a neighborhood retailcenter. Located near the highly successful Villagescommunity, the project has direct access to theFlorida Turnpike and I-75. Reader & Partners hasobtained development entitlements through aDevelopment of Regional Impact (DRI) process.The plan incorporates a varied lot mix designed inpods to appeal to age-targeted as well as familybuyers. The major open space system preservesand links the existing natural features.
MPC ActivitiesOperating Partner/Development Manager• Wildwood Springs Wildwood, FL• Longleaf Tampa, FL• Bethpage Raleigh, NC• Holding Village Wake Forest, NC• Oak Creek Tampa, FL• Indian Springs Orlando, FL• Churchill Raleigh, NCAdvisor/Project ConsultantAcquisition/Asset Services• Veridea Raleigh/ Apex, NC• Multiple projects Orlando – Tampa, FL• Hernando West Memphis, TN• Canoa Ranch Green Valley, AZ• Walnut Trails Overland Park, KS
Trend: Senior Housing Options • The baby boomers will “experience” seniors housing differently from prior generations. • Life Expectancy • Relationships to other family members • Continue business or employment • More senior housing products integrated into communities. • Seniors will expand communitys social infrastructure. • More emphasis on use of affinity groups where residents can interact with like minded. • Healthcare will increase use of technology to effectively deliver services and care. Project Types • Single Family Age Restricted /Targeted • Seniors Apartment Community • Senior Resort or Lodge • Independent Living • Assisted Living • Nursing Care
Trend: Re-Use/Scale DownRe-development of broken deals resultingin re-use and downsizing • Land development • Phases • Modification of Lot Sizes • Amenities • Re-use of completed but not successful • Incremental building of new • Greater partnering to share risk • Investment Parameters • Time horizon and return expectations • Concern for price appreciationLonger Term issues• Ownership versus rental• Public financing for major infrastructure• Virtual versus physical community features• Return to more multi-generational living