University Avenue District

Transcription

1 University Avenue District UPDATE ON THE OPPORTUNITY

2 University Avenue District The new century nexus of live, work, learn, research, and engage. An intentional partnership of developers, businesses, community residents, higher education, non-profit and government agencies fueling job growth, redevelopment and innovation adjacent to the University of Minnesota. A national model for developing a thriving community. 2

3 District Systems Parking Energy Stormwater Waste Wastewater 3

4 From Here to There 4

5 Boundaries Two Cities 3 LRT Stations 370 Acres 5

6 Regional Objectives Talent retention and recruitment Economic competitiveness and growth Equity Health Vitality Connectedness Sustainability and resiliency 6

7 Objectives Delivered ECONOMIC DEVELOPMENT Property Taxes Jobs New & Expanded Businesses Spending Outputs ADDED DIMENSIONS Focus on arts and sciences Healthy design and programming Life-long learning community Demonstration area for research Increased creative vitality index DEVELOPMENT Mixed use live/work/learn/research/play Diversity of people and uses Integrated uses Historic Structures PUBLIC REALM Green spaces & plazas Complete streets & mobility Regional connections & adjacencies Natural systems Community gardens INTEGRATED DISTRICT SYSTEMS District energy District stormwater District parking District Restorative infrastructure Eco-District Carbon Footprint Reductions 7

8 Assets University of Minnesota adjacency (multi-billion $ anchor) Significant regional transit and transportation investments 3 LRT Stations 70+ acres of underdeveloped land Important area businesses, old and new Regional: Central to Metro Area Between 2 Downtowns 2 City and 2 County opportunity Missing link in Minneapolis & St. Paul Grand Rounds Neighborhood led vision Broad stakeholder support via District partnership 8

9 Under-developed 9

10 Strong Existing Assets (1) University Biomedical Discovery District - Winston and Maxine Wallin Medical Biosciences Building, Center for Magnetic Resonance Research, Microbiology Research Facility and Cancer and Cardiovascular Research Building (pictured) and Lions Research Building and McGuire Translational Research Facility; (2) Athletics Campus TCF Bank Stadium (pictured), Williams Arena, Ridder Arena, Mariucci Arena; (3) Central, multi jurisdictional location (4) Diverse and active community; (5) LRT Green Line; (6) Area Businesses Commercial, Industrial, Entertainment and Cultural, including Surly Brewery (pictured)

11 Who s Participating? Aeon BlueCross BlueShield of Minnesota City of Minneapolis City of St. Paul CenterPoint Energy The Cornerstone Group Family Housing Fund & TC Land Bank Greater MSP Hennepin County McKnight Foundation Metropolitan Council Minneapolis Public Housing Authority Mississippi WMO Prospect Park 2020 (neighborhood reps) Prospect Pk Properties (Barnhart Family) Trust for Public Land U of M College of Design ULI Minnesota & ULI National UMFREA United Properties University Enterprise Laboratories (UEL) The Wall Companies Xcel Energy Staff: ULI Minnesota (Partnership), Hickey & Associates (Implementation) 11

12 Implementation: Integration of District Systems: Street Infrastructure and Access, Public Realm, Green 4 th, Energy Heating & Cooling, Parking, Stormwater, Regional Connections 12

13 Pants Optional, LLC Surly Destination Brewery $30 million investment New ped bike auto and truck traffic Significant outdoor space and event center Opened December

14 Comparable breweries = 150K+ visitors a year 14

15 Prospect Pk Properties (Barnhart): Hampton Inn (New Concept) 117 room hotel 5 stories Opens Q Prospect Park Properties Local operator 15

16 Harlem Irving/PP Properties: Prospect Park Station 258 market-rate and luxury apts. 120 room extended stay hotel 14,700 SF restaurant/retail 30,000 SF grocery Surface and lower level pkg 16

17 The Wall Companies: Minnesota Innovation Park Proximity to U of M & St. Thomas 1M SF Office/Lt Manufacturing Focus areas Life Science/Biotech/Medtech Sustainable Energy/Green Tech Food Science/Water High Tech/Sensors 17

18 Harris Site Under Contract with Prospect Park Properties Access issues Environmental issues Historical issues Structures in distress In the heart of area 18

19 MPHA: Glendale Townhomes Mixed Income 500+/- Units 184 low-income (replaces current) 316 market Multi-Generational Green link to District Phase I starts

20 Cornerstone: Prospect North Gardens Phase I 189 apts (20% affordable) 1 st floor retail like convertible apts Signature green space Connection to LRT 20

21 Aeon Habitat for Humanity Site (seeking additional sites too) 0.7 Acres 65 affordable apts Construction

22 22

23 Here to there Planning: District Stormwater District Energy District management District parking Street grid Signature green spaces Phase I 4 th St (rebuild 29 th -Malcolm) Phase I district energy (heating/cooling) Phase I district stormwater mgmt (MWMO) 4 th St SSD (or equal) established Initial Private Development begins Phase II 4 th St (rebuild 29 th Huron) Phase II shared stormwater mgmt (MWMO) Signature green spaces Greenway across University Ave Initial private development opens: AEON, Cornerstone, Harlem Irving & Prospect Park Properties, MPHA Glendale Townhomes District parking opens Phase II energy system built Granary Corridor connections built Co-generation of power Sustainable fuel source 23

24 Contact Prospect North Partnership Sarah Harris, Chair University of Minnesota Foundation Real Estate Advisors Caren Dewar, Partnership Coordination ULI Minnesota Julie Kimble, Implementation Coordination Hickey & Associates Pierre Willette University of Minnesota Foundation Real Estate Advisors