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HomeMy WebLinkAboutReport - Mail Packet - 6/19/2018 - Fort Collins Downtown Development Authority 2017 Year In Review From Matt Robenalt, Executive Director2017 YEAR IN REVIEW 2017 Year in Review 3 Welcome to our Year in Review. We look back on 2017 as a milestone year, with the completion of many long term projects that bolster the vibrancy and energy in the Downtown: Uncommon, Elizabeth Hotel, Old Firehouse Alley parking structure, Poudre Garage, Ginger and Baker, Mathews Office Building, and completion of the updated Downtown Plan. Some of these activities were supported with simple DDA investment partnership, while others were broader community partnerships that took years to realize. This report highlights DDA investment and changes occurring in our downtown during the past year. The projects highlighted demonstrate the many ways in which we strive to reach the collective goals of elected officials, property and business owners, and members of the community. The L’Avenir project will represent the first net zero energy building constructed in the Downtown. The River District continued to realize steps toward the long range plan for infilling with the Confluence project. The Exchange will become a dynamic entertainment destination with its planned opening in mid-2018, and both Union and the new addition to the historic granary that is now Ginger & Baker represent a distinctive era of architecture and new restaurant concepts for the area. Last but not least, the design of two new enhanced alleys continues the dream established in the early 1980’s to create a network of enhanced alleyways that support a distinctive pedestrian circulation system. The DDA has continued our engagement of artists through Sculpture in the Square and other endeavors. We have also continued participation in conversations with community partners and downtown neighbors to address social equity issues. Together with these partners, the DDA is able to create, accelerate, and enhance outcomes for Downtown Fort Collins that we could not accomplish alone. Thank you to all for making 2017 a milestone year. Justin Larson Chair, Board of Directors Matt Robenalt Executive Director Letter from the Board The Downtown Development Authority is a steward of the neighborhood at the heart of Fort Collins - Downtown. We fund projects that add to the vitality, excitement, activity, vibrancy, diversity, and attractiveness of our community. To achieve success in the economic development of the District, all DDA functions will be operated with attention to maintaining the fiscal viability of the organization; achieving the goals of the organization as developed by the community of stakeholders; and implementing these goals through the adopted plans and policies of the DDA Board of Directors and City Council. Stewardship Philosophy 2017 EXPENDITURES total $7,826,838 59% 10% 1% 30% 2017 REVENUES total $7,826,838 Property Tax Increment Revenue $4,621,915 59% Proceeds from Debt Issuance $2,336,168 30% Property Tax Mill Levy, Other $805,526 10% Interest $63,228 1% 4% 8% 30% 58% Debt Service Principal $4,539,125 58% Projects & Programs $2,367,779 30% Administration $625,253 8% Debt Service Interest $294,681 4% New Tax Increment Revenues CREATES The Driver The What The How The Outcome ACCELERATES ENHANCES Improves Diversity & Attractiveness of District Exciting, Active, Vibrant Downtown When the DDA Promotes/Supports Private Development, it Directs Tax Increment Investments to: Address a Market Shortfall or Failure Act as a Market Catalyst Enhance Market Outcomes make it HAPPEN make it HAPPEN SOONER make it BETTER • Environmentally restorative, responsible and accountable • Design and build circulation systems that minimize auto/pedestrian conflict and maximize convenience • Solve a market/use mismatch by bridging a project financing gap • Reduce risk of pioneering 6 2017 Year in Review 2017 Year in Review 7 Confluence, a mixed use project composed of office, housing, retail, and parking will create a vital and energized heart to the River District. Located at the center of the original Fort Collins parade ground, this corner site is likely as close as any building to the center of the point from which the city grew. The developer acquired three properties (401, 406, and 409 Linden Street) for redevelopment. The project features two buildings totaling 45,000 square feet. Each building will include residential condominiums and commercial office on the upper floors, and on-site parking for residents. Additional features include a rooftop photovoltaic system, Poudre Street façade mural, and patio hardscape improvements with a sculptural light column. Two existing small residential structures will remain on the property. The project will feature clearly articulated pedestrian entrances and large well-proportioned windows. Materials will include cement stucco, corrugated weathered steel, local sandstone, tongue and groove stained wood siding, and board-formed concrete. Confluence make it BETTER make it HAPPEN 401 Linden Street Tax Increment Investment: $358,520 Architect: au workshop Architects | Developer: Space Foundry, LLC L’Avenir is a three story residential project designed as a net zero energy building and registered with the Living Building Challenge. It is intended to be a demonstration case for high performance and low impact living. The project includes four 2,300 square feet residential townhomes for a total of 9,200 square feet on a compact infill lot. The homes will be powered by nine geothermal heating wells and a 31.2 kW photovoltaic array. In addition, one community owned electric vehicle with charging station will be available to residents. The exterior materials include a terra cotta rain screen and triple-glazed windows with aluminum-clad wood to contrast but complement the wall material. Concrete panels will be used at the ground level to anchor the massing to the street-facing facades. L’Avenir 221 East Oak Street Tax Increment Investment: $128,973 Developer: Davis Davis Architects make it BETTER make it HAPPEN make it HAPPEN SOONER before before after after The new restaurant, Union, is located at 210 Jefferson St. and is the former site of Jefferson Park in Old Town Fort Collins. This project will offer a restaurant and outdoor space that helps create a gateway to the River District. The restaurant is a single story building and approximately 5,500 square feet in floor area. It includes a patio on the east side of the property that activates the corner of Jefferson Street and Linden Street. The structure is open-framed steel , drawing on the industrial roots of the River District. Facades include generous proportions of glazing to create transparency and interaction with the pedestrian streetscape. Materials are primarily architectural metals, masonry, and glass curtain wall systems. Streetscape improvements will include a new, realigned sidewalk, benches, and Transfort bus stop platform along Jefferson Street. Union make it BETTER 210 Jefferson Street Tax Increment Investment: $170,129 Architect: VFLA Architects | Developer: JPUC Holdings, LLC The Exchange is a mixed-use commercial office and retail center catering to those who walk and bike in Old Town. The focal point of The Exchange is the central plaza which will provide a dynamic family-friendly space for the community to enjoy dining and relaxing. Two new container buildings and an ice cream venue have been incorporated into plaza design. These buildings will provide unique spaces for numerous food and beverage services and will create the edge of the west and east sides of the plaza. The renovated existing buildings will provide smaller, more affordable office and retails spaces in all of Old Town and will add new glazing, storefronts, and canopies to help activate these areas. The south end of the renovation will feature a new restaurant addition facing the plaza and a rooftop terrace for additional outdoor seating. Right-of-way and infrastructure improvements associated with the redevelopment of the block-long site will include sidewalk replacement, new tree grates, curb and gutter replacement, irrigation, plantings, and utility upgrades. The Exchange make it BETTER 200 North College Avenue Public Improvements in the Right-of-Way Tax Increment Investment: $387,852 Architect: alm2s Architects | Developer: Brinkman Development, LLC before before after after 8 2017 Year in Review 2017 Year in Review 9 The Alley Master Plan was developed in 2008 to provide the vision for establishing a pedestrian network of alleys and walkways linking CSU, Old Town, and the River District. The focus of the plan was to create enhanced public spaces that stimulated business activity and further differentiate Downtown Fort Collins as the urban center of Northern Colorado. In preparation for the renovation of two more alleys in 2018, DDA staff has worked with consultants to develop designs for Old Firehouse Alley East and the West Mountain Avenue Alley. Engagement with building owners, tenants, and businesses was key to the process of developing the alley designs. The Alley Master Plan Old Firehouse Alley East & West Mountain Avenue Alley The DDA has designed and engineered improvements on approximately 20,000 square feet of enhanced alley right-of-way during 2017. These improvements will further implement the 2008 Fort Collins Downtown Alleys Master Plan, and build upon the existing character of each alleyway to create enhanced pedestrian uses of the alley spaces. Architectural goals include encouraging additional outdoor private uses, inspiring redevelopment on adjacent private land, creating festive spaces using special lighting and artistic installations, ensuring emergency access where applicable, creating shared trash and recycling strategies as needed, and implementing a shared street model to allow vehicular access, including business deliveries and access to internal private parking lots. The DDA has budgeted $2.8 million for construction of the improvements and expects the construction phase to occur from mid-April through November 2018. The DDA will also assume expenses for ongoing daily maintenance of the enhanced alleyways. Alley Renovation 2017 Design Phase: $276,775 before after before after 10 2017 Year in Review Mathews Office Building 215 Mathews Street Recently Completed Projects Ginger and Baker 359 Linden Street Poudre Garage 148 Remington Street Firehouse Alley Parking Garage 111 Chestnut Street Uncommon 302 South College Avenue 12 2017 Year in Review 14 2017 Year in Review 2017 Board of Directors Chris Aronson Vaught Frye Larson Aronson Architects Steve Johnson Larimer County Board of Commissioners Angel Kwiatkowski Cohere, LLC Justin Larson Vaught Frye Larson Aronson Architects Ray Martinez Fort Collins City Council Jim Palmer Cushman & Wakefield Bevin Parker Maximum Painting Jenny Schultz Great Western Bank Lee Swanson Ben & Jerry’s Scoop Shop Mark Williams Attorney Cheryl Zimlich Bohemian Foundation 2017 Highlights • Participated as a member of the American Institute of Architects Colorado North Task Group to sponsor, organize, and present a two-night community dialogue on design principles and infill development in historic commercial districts. • Presented as a panelist at the International Downtown Association’s College Town Summit in Tempe, AZ with CSU Vice President for External Relations on the relationship of CSU, downtown Fort Collins, and the City. • Participated on an International Downtown Association Top Issues Council that published a report of case studies in alley activations. • Partnered with Bohemian Foundation and City to conduct a survey with ArtSpace to determine the need for specialized affordable housing for creatives, artists, and musicians. • Continued community collaborations with year two of a three year planned series of Tactical Urbanism Wayfinding projects, supported the Poudre River Public Library’s second annual literary festival, FoCo Bookfest, and participated in the downtown holiday lights display in partnership with the City of Fort Collins and the Downtown Business Association. • Old Firehouse Alley Parking Structure funding partnership with City of Fort Collins. • Old Town Square hosted three summer concert series and a total of 129 permitted event days. There were also six Movie Nights in the Square, the Summer Splash children’s celebration, and Pianos about Town produced with community partners. • Implemented the second year of Sculpture in the Square with the installation of sculptural art pieces which rotate on an annual basis. The program exhibited six sculptures with four artists from Colorado, one from New Mexico and one from New Jersey. • Partnered with Bohemian Foundation and the City of Fort Collins Parks and Recreation departments to install and operate an enlarged skate rink in Old Town Square. • Coordinated the Old Town Square Art Activation Program to create small-scale artistic interventions and programming in the plaza. Four artists painted Adirondack chairs and Public Art Collective installed artistic wraps on utility boxes and the door of the Old Town Square stage. Photo Credits Tim O’Hara: front cover JR Schnelzer: 3, 5, 14 Bob Younger Images: covers, 2, 4, 12, 13, 14, 15 Mural Artists Mike McPuff: page 4 To build public and private investment partnerships that foster economic, cultural and social growth in the Fort Collins central business district. Mission Statement Allie Ogg: page 13 Armando Silva: inside back cover investments • Signal political importance • Public infrastructure upgrades • Sustaining the historic character by preserving and honoring what is here • Quality façade materials and timeless design in architectural improvements • Place-making with enduring impact • Support of attainable housing to diversify downtown living options When the DDA invests tax increment funds to promote and support public and private development our aim is to Make it Happen, Make it Happen Sooner, and Make it Better. Tax Increment Revenue Cycle 2017 Year in Review 5