Item2_Pleasant Hill Collaborative - Blocks 16 18 Presentation 3.18.24 — original pdf

Backup

Harold McMillan Cultural Advisor PLEASANT HILL COLLABORATIVE Block 16 and 18 VISION TO REALITY PLEASANT HILL COLLABORATIVE – BLOCK 16 & 18 PROPOSAL Harold McMillan Cultural Advisor Sean Garretson Project Manager EXECUTE THE PROPOSED VISION Garrett Scharton Lead Developer $1B HOUSING PROJECTS DEVELOPED 7,500+ HOUSING UNITS DEVELOPED PLEASANT HILL COLLABORATIVE – BLOCK 16 & 18 PROPOSAL MAINTAIN A PROACTIVE PARTNERSHIP THROUGH FINANCIAL OR MARKET CHALLENGES Keep the project in bounds and on target • Units on par with like product • Reduce reliance on private capital and private • gain Tension between code-minimum parking vs lease-up best practices • Ground Lease term that extends beyond the debt term COLLINS PARK PREVIOUS PROJECT Garrett Scharton Lead Developer Gap Financing Utilize to reduce need for public financial support FORTIFY SUBORDINATE DEBT BACKED BY THE PUBLIC ENTITY PURCHASED BY THE DEVELOPER TARGET EMPLOYERS IN NEED PLEASANT HILL COLLABORATIVE – BLOCK 16 & 18 PROPOSAL MAINTAIN A PROACTIVE PARTNERSHIP THROUGH FINANCIAL OR MARKET CHALLENGES Rents Should Cast a Wide Net • • Offer relief on maximum income for breathing room Target whomever YOU want to target on block 18; block 16 conforms with HUD regulations (for example, target lower rents, but allow incomes at higher levels) • Offer that new leases could temporarily reset at higher AMIs, if it cannot maintain debt service • Resident Eligibility is a priority, not a prohibition (be inclusive of the broader community at the bottom of the waterfall) Garrett Scharton Lead Developer o Right to Return & Displaced o HBCU o African American Creatives o Small Businesses, poised for growth o Folks with generational ties to East Austin o Arts / Culture / Music o Any other workers employed within East Austin with priority for income-eligible workers 1 2 3 PLEASANT HILL COLLABORATIVE – BLOCK 16 & 18 PROPOSAL COMMERCIAL OPERATIONS 2 Years of curating a list of potential tenants with confirmed LOIs Arts and Culture Projects and Nonprofits Texas Music Museum Kenny Dorham Mini-museum and Listening Room East Austin Black History Project Austin Black Music Archive East Austin Creative Coalition DiverseArts Austin Professional Musicans (ATX Music Pros) Women In Jazz Association Others TBA for Co-working Space Commercial Cultural/Creative Professionals Deborah Roberts Rejina Thomas—GraphicGlass Marcellus Sapenter Runway Underground/Design Works! Studio DM Profits Monks Jazz Lounge Jon Deas/Gary Clark,jr. Band, et. Al. (structure TBA) Commercial—Ethnic/Culture-based F&B Hoover's Good Eats Nissi Veggie Mex Tony's Jamaican Food PLEASANT HILL COLLABORATIVE – BLOCK 16 & 18 PROPOSAL Kim Shipman Commercial Operations Cultural history museum and archive Component specifically dedicated to Kenny Dorham history/music Cultural History rsearch project and archive (public history, academic) Cultural History rsearch project and archive (public, academic) Venue Management Work Space/co-working space Fine art gallery Administrative office Administrative office/Co-working space Co-working and office space Fine Art Studio/Gallery Fine Art Studio/Gallery Fine Art Studio/Gallery Fashion design and production studio Fashion design and production studio Live and Recorded music venue Recording studio and rehearsal spaces Southern Soul Food restaurant Vegan Mexican (not TexMex) café Jamaican/Caribean soul food Kim Shipman Commercial Operations PARKING ANALYSIS Step 1 - analyze time of day usage for all users Step 2 - analyze all mobility and parking options for reduction in parking demand, reducing cost but maintaining viable assumptions Step 3 - analyze post construction for necessary modification Strategies • Residents also working in artist/non-profit/rehearsal space • Day Use offset with Night Use • RideShare/Events typically multiple people per car • Valet • Any shared parking with residential or separate entrance PLEASANT HILL COLLABORATIVE – BLOCK 16 & 18 PROPOSAL PARTNERSHIP WITH URB/CITY/COMMUNITY Lessons learned make us a better partner to you, bringing best practices in design, construction, financing and legal structure. 44 PUBLIC PARTNERS SERVED NEW TO THE TEAM Garrett Scharton Lead Developer TERESA BOWYER LIHTC CONSULTANT PLEASANT HILL COLLABORATIVE – BLOCK 16 & 18 PROPOSAL PARTNERSHIP WITH URB/CITY/COMMUNITY 5 Phases of Community Engagement Initiation – Engage, Inform, and Excite through social media and direct outreach events AJ Bingham Community Engagement • • • • • Site-Activation – Engage highlight local creatives activations, workshops, residencies, and events the community and through cultural art Pre-Construction – Engage and Inform through a series of open houses, update communications, and community events Construction – Engage and Inform through open and houses, direct updates stakeholders to businesses Post-Construction - Communicate through updates and a series of opening celebration events including a public awareness campaign. PLEASANT HILL COLLABORATIVE – BLOCK 16 & 18 PROPOSAL Harold McMillan Cultural Advisor THANK YOU!