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B L O C K 16 11th Street Development Urban Renewal Board Meeting November 14th, 2022 B L O C K 18 Implementing inclusive and equitable public development services as a non-profit partner to the city of Austin Implementing inclusive and equitable public development services as a non-profit partner to the City of Austin October 17 2022 Urban Renewal Board Urban Renewal Blocks 16 & 18: Community Feedback to Date The following information was summarized based on on-site community engagement sessions (Sept 28,Sept 30 and Oct 2), and an online survey from Sept 28-October 31. Vibe: How do you want this district to feel? (wordcloud) Community Priorities: Survey + On-site Dot Survey (weighted total points) Affordable Ownership 443 Small Grocery 317 Affordable Rental 297 Cultural Venue 287 Pocket Park 286 Artist Studios 263 Outdoor Performance 240 Restaurant 197 Creative Office 182 Non Profit Offices 151 Outdoor Dining 142 Public Parking 133 Convenience 124 November 3rd, 2022Block 16 & 18 : Community Engagement BBlloocckk 1166 && 1188 DDiissppoossiittiioonn-- CCoommmmuunniittyy EEnnggaaggeemmeenntt BBlloocckk 1166 && 1188 DDiissppoossiittiioonn-- CCoommmmuunniittyy EEnnggaaggeemmeenntt Participants: 98 Responses to Survey ▪ SURVEY! ▪ 3 Community Conversations – Sept 28-Oct 2 43/77 Majority 78702! 200+ Dots! Austin EDC 77 Responses to date Race: • 45 White • 24 Black • 17 Hispanic Austin EDC 35/75 White 19/75 Black 16/75 Hispanic BBlloocckk 1166 && 1188 DDiissppoossiittiioonn-- CCoommmmuunniittyy EEnnggaaggeemmeenntt ▪ 3 Community Conversations – Sept 28-Oct 2 4 5 200+ Dots! Austin EDC 4 Community Affiliation Block 16 Block 18 11th Street Current Program Cultural Institutions Places of WorshipOffice / Commercial Multifamily / Single FamilyRetailFood / Beverage Green Space Programming: Utilizing over a decade of community input, interest, and ideation, we have integrated their efforts into the following program elements to offer the greatest impact to the community. These programs will be used to help test three scenarios for massing/scale and market feasibility. Learnings from these scenario evaluations will inform the criteria listed in the Request for Proposals. Cultural Center Housing Workspace Parking Program Matrix: Scenario A Scenario B Scenario C “Adjacent Typologies” “NCCD Overlay” “Increased Density for Affordability” 16 18 16 18 16 18 80% 20% 80% 20% 50% 50% 50% 50% 100% 100% Least dense scenario that mirrors adjacent block building types Possible development under NCCD regulations Unlocking additional height (zoning) to increase density these three scenarios demonstrate the range of possible physical ‘fits’ and program distribution-final solutions by developer responses will be different. BLOCK Cultural Food Based Retail Workspace Retail Market Housing Affordable Housing District Parking UG Parking AG Parking Green Space 16 18 Scenario A A 16 18 Adjacent Typologies Capital View Corridor Juniper Street Block 16 E. 11th Street et e Stre urv C et s Stre o arc n M a S Block 18 t e e r t S r e l l a W *drawing is illustrative only and not intended to represent final design. Multifamily Commercial Cultural Center Retail Parking Structure City Owned Parcel East 11th Street A 16 18 Adjacent Typologies 16 18 Housing Housing Commercial Cultural Retail Food Based Retail Green Space Underground Parking Structure Parking Juniper Street Block 16 et e Stre urv C E. 11th St. Below Grade Parking t e e r t S r e l l a W Block 18 Below Grade Parking *drawing is illustrative only and not intended to represent final design. Multifamily Commercial Cultural Center Retail Parking Structure City Owned Parcel East 11th Street Market AffordableA 16 18 Adjacent Typologies 16 18 Housing Housing Commercial Cultural Retail Food Based Retail Green Space Underground Parking Structure Parking Juniper Street Block 16 et e Stre urv C E. 11th St. Below Grade Parking t e e r t S r e l l a W Block 18 Below Grade Parking *drawing is illustrative only and not intended to represent final design. Multifamily Commercial Cultural Center Retail Parking Structure City Owned Parcel East 11th Street Market AffordableA 16 18 Adjacent Typologies Residential Units Multifamily - 42 Townhomes - 20 Rent Limits: $1,546 - $2,560 Income Limit: $61,000 - $88,000 Commercial 25,600 Square Feet Cultural 12,800 Square Feet Retail 13,160 Square Feet Parking 265 Spaces *drawing is illustrative only and not intended to represent final design. Block 18 E. 11th St Juniper Street Block 16 Multifamily Commercial Cultural Center Retail Parking Structure City Owned Parcel East 11th Street 16 18 Scenario B B NCCD Overlay Capital View Corridor Juniper Street Block 18 Block 16 E. 11th Street et e Stre urv C et s Stre o arc n M a S t e e r t S r e l l a W *drawing is illustrative only and not intended to represent final design. Multifamily Commercial Cultural Center Retail Parking Structure City Owned Parcel East 11th Street B NCCD Overlay 16 18 Housing Housing Commercial Cultural Retail Food Based Retail Green Space Underground Parking Structure Parking Block 16 Block 18 E. 11th Street et e Stre urv C t e e r t S r e l l a W Juniper Street et s Stre o arc n M a S *drawing is illustrative only and not intended to represent final design. Multifamily Commercial Cultural Center Retail Parking Structure City Owned Parcel East 11th Street Market AffordableB NCCD Overlay Residential Units Multifamily - 236 Rent Limits: $1,546 - $2,560 Income Limits: $61,000 - $88,000 Commercial Cultural 21,600 Square Feet Retail 25,000 Sf (Food Based Retail) Parking 438 Spaces *drawing is illustrative only and not intended to represent final design. Block 18 Juniper Street Curve Street Block 16 Multifamily Commercial Cultural Center Retail Parking Structure City Owned Parcel East 11th Street Waller Street16 18 Scenario C C Increased Density for Affordability Capital View Corridor Juniper Street Block 18 Block 16 E. 11th Street et e Stre urv C et s Stre o arc n M a S t e e r t S r e l l a W *drawing is illustrative only and not intended to represent final design. Multifamily Commercial Cultural Center Retail Parking Structure City Owned Parcel East 11th Street C Increased Density for Affordability 16 18 Housing Housing Commercial Cultural Retail Food Based Retail Green Space Underground Parking Structure Parking Block 16 Block 18 E. 11th Street et e Stre urv C t e e r t S r e l l a W Juniper Street et s Stre o arc n M a S *drawing is illustrative only and not intended to represent final design. Multifamily Commercial Cultural Center Retail Parking Structure City Owned Parcel East 11th Street Market AffordableC Increased Density for Affordability Residential Units Multifamily - 229 Rent Limits: $1,159 - $1,721 Income Limits: $46,000 - $66,000 Commercial Cultural 30,000 Square Feet Retail 10,700 Square Feet (Retail) Parking 312 Spaces *drawing is illustrative only and not intended to represent final design. Block 18 Juniper Street Curve Street Block 16 Multifamily Commercial Cultural Center Retail Parking Structure City Owned Parcel East 11th Street Waller StreetFinancial Feasibility Balance Financially feasible projects must balance revenue producing uses against those offering greater community benefits Drivers of Financial Feasibility Residential Use – Market Rate Housing Residential Use – For Sale Housing (Townhomes) Commercial Use – Office Financial – New Market Tax Credits Financial – Low-Income Housing Tax Credits Financial – Real Property Tax Abatement c i t a m m a r g o r P l i a c n a n F i Impacts to Financial Feasibility ​ Commercial Use – Restaurant Commercial Use - Cultural Commercial Use – Food Retail Costs – Workforce/ Affordable Housing (Subsidy/ Additional Resources Required) Parking – Below Grade / Structured Financial – Current Economic Environment (Rising Construction Costs, Inflation, Interest Rates, etc.) P r o g r a m m a t i c i F n a n c a i l Additional resources include a variety of funding sources from City, State, Federal programs not yet included in the model. Further research and testing is still in progress. Feasibility Project feasibility based on additional financial resources required. d e e N e c r u o s e R l a i c n a n i F High Moderate Low Adjacent Typologies NCCD Increased Density for Affordability Project Cost Comparison * E T A M I T S E T S O C T N E M P O L E V E D $120,000,000 $110,000,000 $100,000,000 $90,000,000 $80,000,000 $70,000,000 $60,000,000 $50,000,000 $40,000,000 *Preliminary (Subject to change) Adjacent Typologies NCCD Increased Density for Affordability SCENARIOS