Item2_URB 1.22.24 Revised — original pdf

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January 22, 2024. Urban Renewal Board 1/29/2024 1 Request for Proposal (RFP) Process initiating Phase II Focus: Development Team & Vision/Approach Focus: Project Specifics/Finances Phase I Phase II RFP Registration and Release Evaluation Committee reviews proposals and selects a shortlist Evaluation Committee conducts interviews with shortlisted teams Shortlisted teams record short presentation for community feedback AEDC releases requirements and community feedback to shortlisted teams AEDC releases requirements and community feedback to shortlisted teams Urban Renewal Board votes on recommended team City Council votes on recommended team Aug-Oct 2023 Nov 2023 Nov 2023 Dec 2023 Jan 2023 Feb 2024 May 2024 June 2024 Anticipated Schedule: Jan-June 2024 1/29/2024 2 • 2 Proposals Advancing to Phase 2 • National and Local Collaboration •Conceptual Vision and Project Team 1/29/2024 3 •Final Developer Selection Follows Phase 2 Proposing Team Vision: Austin Revitalization Authority (ARA), Legacy Real Estate Developers 1/29/2024 4 Proposing Team : ARA / Legacy Please see team’s full presentation, below is only a brief selection BLOCK 16 BLOCK 18 1/29/2024 5 Please see team’s full presentation, below is only a brief selection BLOCK 18 Perspective view from courtyard BLOCK 18 Perspective view from Juniper and Waller St Proposing Team : ARA / Legacy 1/29/2024 6 Proposing Team Vision: Servitas/Guadalupe Neighborhood Development Corporation aka: Pleasant Hill Collaborative 1/29/2024 7 Proposing Team : Pleasant Hill Collaborative Please see team’s full presentation, above is only a brief selection BLOCK 16 BLOCK 18 1/29/2024 8 Please see team’s full presentation, below is only a brief selection BLOCK 16 Adjacent to the Austin African American Culture and Heritage Facility BLOCK 18 Perspective along Juniper St 1/29/2024 9 9 Program Distribution Analysis by Hayat Brown PHC 16 1 PHC 18 2 131,509 195,984 ARA/ Legacy 16 ARA/Legacy 18 188,626 171,357 Total Project Residential Multifamily GSF Townhome GSF Retail Food-based Retail Affordable Retail/Working Spaces Community Uses* Cultural Venue(s) Office Parking Other 108,023 0 0 6,942 0 0 0 0 0 16,544 33,386 17,374 0 6,542 0 0 27,084 13,451 86,615 11,532 TOTAL 327,493 141,409 17,374 0 13,484 0 0 27,084 13,451 86,615 28,076 102,3473 7,140 5,703 2,729 0 0 0 9,680 61,027 0 56,6884 0 1,552 4,228 0 0 27,457 18,659 62,773 0 TOTAL 359,983 159,035 7,140 7,255 6,957 0 0 27,457 28,339 123,800 0 Inconsistencies between appendix data above & proposal: 1 Proposal = 105,138 GSF-Multifamily; 5,932 GSF-Retail; 1,010 GSF-Office; 4,000 GSF-Other 2 Proposal = 0 GSF-Food-based Retail; 0 GSF-Office; 2,200 GSF-Other 3 Proposal = 118,125 GSF - Multifamily 4 Proposal = 49,295 GSF - Multifamily 1/29/2024 10 10 10 High Priority Program Analysis by Hayat Brown Affordable Housing Cultural Venue(s) Small neighborhood-serving retail business Food-based retail/small grocery store Affordable commercial space PHC ARA/Legacy X X X X X X X X 1/29/2024 11 1111 Desired Program Analysis by Hayat Brown PHC ARA/Legacy Implementable pathways to ownership and/or equity building rental opportunities for affordable housing Implementable alternative business models that permit equity building options for small businesses, and creative organizations Publicly accessible greenspace to help facilitate special events, outdoor performance (100-person minimum), and other community-based uses Family & student/staff-friendly accommodation strategies, including multi-bedroom sizes to support their needs. Unit design should support long-term flexibility of housing options Marketing and incentive strategies to attract and retain creatives in housing and/or workspace District management support, such as security, maintenance, and marketing X X X X X X X X X Nothing more than two bedrooms provided 1/29/2024 12 12 12 Additional Analysis Analysis by Hayat Brown The following items were also reviewed, and feedback would be provided to both teams: o Project Team Experience and Financial Capacity o Alignment with Equitable Development Goals o Preliminary Financial Plan (Sources & Uses) o Program Costs & Rent ranges as provided o Preliminary Project Execution Strategies 1/29/2024 13 13 13 Selected Questions Raised by Evaluation Committee/ Stakeholder Working Group o How will your large team ensure community benefit amid high project costs, and who leads day-to-day operations? Clarify Roles & Responsibilities o What part of the program is the main challenge, and how do you balance community benefit with financial feasibility? o Can you elaborate on your past efforts to include and retain small businesses, particularly those owned by people of color? How do you plan to identify and ensure affordability for future businesses in this project? o What housing types are proposed, and how will you ensure true affordability, providing specific monthly rent ranges for the described MFIs? o Describe the parking arrangements for the project. Is it intended for residents/businesses only, or will it be available to the neighborhood? Additionally, would public access to parking be paid or free? o Provide more articulation of any ownership options you may have in your proposal, including residential and 14 commercial 1/29/2024 Phase 2 RFP Priorities for Discussion 1/29/2024 15 Project Team Phase 1 requirements Phase 2 Requirements (in addition): All required to provide relevant experience in at least 3 project of similar size and scope: o Principal in Charge; o Developer Senior Project Manager; o Planner/Urban Designer; o Design Program Manager; and o Arts/Placemaking/Engagement Professionals o Housing operations partner o General Contractor (GC)- must appoint a Construction Senior Project Manager with experience on three similar projects. o Operator must specify the commercial components operator and list major predevelopment subcontractors. o Ensure at least 30% of proposed project contracts go to M/WBE & historically underutilized businesses. 1/29/2024 16 Analysis by Hayat Brown Housing 1/29/2024 17 Analysis by Hayat Brown Housing 50 % MFI 60 % MFI 80 % MFI 100 % MFI 1/29/2024 18 Housing Phase 1 requirements Phase 2 Requirements (in addition): • Maximize the number of affordable housing units, with no less than 50% of units restricted to households earning at or below 60% MFI (on average) for rental units and at or below 80% MFI for ownership units if provided • Ensure such affordability levels are maintained throughout the life of the project • Provide a mix of unit sizes to accommodate varied household types. Projects that only have studios and one-bedroom units will not be considered a ‘variety’. • Projects with a majority multi-bedroom units will be prioritized • 3-4 Bedroom Units—provide units that can be family units and/or adaptable to student housing • For any student housing proposals, please provide clarification on accessibility and security to the building, and if these units will be available broadly or dedicated to any particular institution. • Clarify any ownership or pathway to ownership opportunities 1/29/2024 19 Parking Phase 1 parking provided by proposing teams: ARA/Legacy Parking Below Grade Above Grade 151 152 16 14 Estimated total cost/space 35k PHC Below Grade Above Grade 137 0 155 0 Estimated total cost/space 41K Block 16 Block 18 Block 16 Block 18 Phase 2 Parking Priorities: • Refined, efficient parking strategy, accounting for the City of Austin’s recent elimination of parking minimums • Clear delineation of above- and below-grade spaces in the refined proposals. • Clear delineation of parking operations and proposed use of parking facilities (tenants only or open to the public) • Proposers should submit a revised a site plan in context for any refinements to the development program, including, street elevations, building elevations, including stacking diagrams, open space, and urban design. 1/29/2024 20 Small Business/Retail Phase 2 requirements (In addition to Phase I) •The Operator must include the intended operator of commercial components of the Project. The operator shall demonstrate experience with affordable commercial spaces, including marketing, leasing, maintenance, and temporary and long-term site activation in the urban realm. The operators of any commercial spaces must align with the intent of this RFP and financial proformas, leasing projections, specifically as it relates to affordability. •Specific types of retail that will be targeted and any anticipated challenges attracting those tenants •The Proposer is not required to identify an operator for the cultural venue. Instead, AEDC will work with the Developer to select the operator through the Austin Cultural Trust 1/29/2024 21 Urban Design Phase 2 requirements (in addition to Phase I): • The Cultural Venue entrance shall be visible and located on the ground floor • Primary program areas should be visible to the public and articulate which spaces address Council recommendations. • Uses along 11th Street shall be active and engage with vehicular and pedestrian traffic • Open space should be of sufficient size and dimension to allow for programming, a mix of hard and soft landscaping, outdoor seating, and engaging spaces for a lively, pedestrian-oriented environment. • Assure that the maximum of public space is accessible and feels accessible to the pubic, and delineate ‘public’ spaces that may be only accessible to residents/occupants of building. 1/29/2024 22 Evaluation Criteria Phase I Project Team (25%) Phase II requirements Project Team (15%) Development Program (25%) Development Program (15%) Community Impact (20%) Community Impact (10%) Financial Plan (15%) Financial Plan (30%) Project Execution and Risk (15%) Project Execution and Risk (30%) 1/29/2024 23 Phase 2 Schedule Invitation to Phase II December 2023 Team Proposal Presentations posted on Project Website January 22, 2024 Public Feedback on Presentations January 22-February 2, 2024 Phase II Kick Off Phase II Developer/Partner Networking (Shortlisted Proposers Only) Proposing Teams present to Urban Renewal Board March 18, 2024, 6pm CT Phase II Proposals Due Final Evaluation Interviews with Evaluation Committee Urban Renewal Board Selection of Final Proposer to be recommended to City of Austin City Council May 20, 2024* Selection/Council Approval to proceed with an Exclusive Negotiating Agreement (ENA) May or July 2024* February 2024 February 2024 April 2024 April 2024 April 2024 1/29/2024 24 Community Input/Survey Inviting the community to review the posted video presentations and accompanying slide decks from each team. The input, along with Stakeholder Working Group input and evaluation committee feedback, will be synthesized and included as part of Phase 2. The purpose of this feedback is to support the advancement of the projects, not to select a proposal. Survey open from January 22nd-January 31st Updated Website: https://www.austinedc.org/16and18 Survey https://joseaedc.wufoo.com/forms/community-voice-survey/ 1/29/2024 25 Thank You Question, please Contact Jose Lopez: jose@austinedc.org 1/29/2024 26