CenterPointe at Grantville Master Plan

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1 CenterPointe at Grantville Master Plan Presented By: Sherman D. Harmer, Jr. Michael R. Dunham Jacob D. Schwartz Marco A. Cabrera Urban Housing Partners (619) First Ave. San Diego CA Request For Proposal

2 A Large Mixed-Use Urban Village in the central heart of the City of San Diego. Modern Urbanism: The vision and focus of the CenterPointe Master Plan is to provide a new Mixed Use Urban Village with housing opportunities and supportive retail/commercial services. One Owner: Fully approved by the City of San Diego, the CenterPointe Project Master Plan is one of the largest entitled single private land ownerships in the Central Region of San Diego, in the center of one of San Diego s newest Redevelopment Areas. The subject site includes a 12 acre parcel with eight (8) lots, all contiguous to each other, which are owned by the same owner. Fully Approved: CenterPointe s entitlement approvals include a Site Development Permit and a Vesting Tentative Map, which permit for the following: Mixed Use Development 588 multi-family residential units 135,228 +/- square feet of office, retail and restaurant uses. CenterPointe uniquely has full development rights - approved in May in an area with very limited residential and/or mixed use development rights. Walkable Village: There will be internal, centralized, walkable plaza areas throughout the community. These landscaped plazas will provide internal focal points within the community, with focus on themed architecture and an active retail environment. This will create an inviting environment for those who reside in the project and for visitors from the Central San Diego area. Design: Drawing inspiration from the urban farm movement The design of the site is reflecting the gritty industrial textures that invokes nature and combining that with the modern technology that is pushing this generation into the future. The Spirit of the design utilizes the clean lines of modern Architecture with the soul of the industrial and agricultural History of the area. Location: Grantville is centrally located in the heart of the San Diego region. It is sited in the Northeast corner of the Interchange of the I-8 and I-15 Freeways. Grantville is directly connected to Mission Valley. CenterPointe is located in the Center of a major, well established neighborhood, that has very easy access to a major food market, many restaurants, a 392 bed Hospital, light rail trolley transportation, San Diego State University, the University of San Diego, easy freeway access, jobs and employment centers, and a good balance of Single Family and Rental homes. CenterPointe is centrally located in San Diego, which is rated one of the top Multi-family markets in the country; job growth is good, rents are increasing and apartment vacancies are very low. In addition to Market Rate Rentals, Senior Housing has shown strong demand. New Redevelopment Area: CenterPointe has the opportunity to be a catalyst: a truly sustainable, mixed use, walkable lifestyle community in the heart of the new Grantville Redevelopment Project Area. Close to High Paying Jobs: CenterPointe is conveniently located to employment centers offering high paying jobs in some of the most promising fields of Telecom, Software, Bio-tech, Life Sciences, Clean Tech, and Medical Care. Project Vision

3 Project Location Grantville is centrally located in the heart of the San Diego region. It is sited in the Northeast corner of the Interchange of the I-8 and I-15 Freeways. Grantville is directly connected to Mission Valley, which is one of the most active regions of San Diego, with significant employment, shopping, and entertainment opportunities, including Qualcomm Stadium home to the San Diego Chargers NFL Football team. This region hosts over 155,000 jobs and is a major economic center in San Diego. In 2002, the San Diego Transit District completed the East Line Extension of the Light Rail Trolley to Grantville and to San Diego State University. Major Trolley Stops were constructed in Grantville and at the next stop, which is San Diego State University. In 2005, Grantville was approved as a State Redevelopment Project Area. It is now qualified to collect and commit funds for Public Infrastructure and Public/Private Investment. Site Plan/Location

4 Land use Patters The CenterPointe at Grantville Plan site is located in the path of several other large scale, high density multifamily development projects that have been built throughout the 1970 s and 1980 s. A few of these multifamily projects began as for-rent apartments and were later converted to forsale condominiums. Several of these existing projects are still for-rent apartments. These, along with a few newer apartment communities to the west in Mission Valley, provide the basis of comparable for the CenterPointe at Grantville Master Plan. NOTE: All of the surrounding multifamily projects are running at 95% occupancy levels. As seen by the development patterns, CenterPointe at Grantville will be the only true high-density, mixed-used use urban village in the area that combines ground floor retail and commercial all in one walkable and sustainable lifestyle community. This will give the CenterPointe at Grantville project a distinct competitive advantage to other residential projects in the area. High Density Multifamily (light Blue) Single Family Detached (Light Green) Commercial/Employment/Retail Zones (light Teal) Religious Facility and School (Yellow) Kaiser Hospital (Magenta) CenterPointe at Grantville Master Plan (Red) Map with a key that shows the land uses of the existing projects. Existing Multifamily Development Patterns

5 Access and Infrastructure One of the unique competitive advantages of the CenterPointe at Grantville Master Plan is its central location within the Central San Diego region. This allows residents of the Master Plan convenient and direct access to all the major employment clusters in San Diego County. Most of the aforementioned major bio-tech, hi-tech, clean tech, financial, military, and university based Industry Cluster jobs are within a minute drive of the Master Plan site. The centralized location of these job clusters is the foremost reason this portion of the San Diego region is more densely populated then other more outlying areas. The CenterPointe at Grantville Master Plan is located in the heart of this centralized and densely populated area at the convergence of major freeway networks that reach all portions of the county and provide quick access to all job base areas. Traffic Improvements As new development fills into the Grantville Area, new Traffic Improvements will be built to accommodate the higher density levels in the community. The improvements that will have the greatest benefit, and will therefore most likely occur first, are the following: Potential lane addition to Mission Gorge Road; Potential Re-alignment of Alvarado Canyon Road to the intersection of Fairmont Avenue; Potential widening of Mission Gorge Road to Mission Gorge Place; Significant re-construction of the I-8 bridge over Mission Gorge*. *The I-8 work is far out on the horizon and the redevelopment agency estimates the improvement cost to be $120M. Map with driving times in relation to the site. Access, Infrastructure, and Traffic

6 Entitlement Documents The following documents have been approved by the City of San Diego: 1. Vesting Tentative Map No Vesting Tentative Map (VTM) was approved by Resolution R by the City Council on May 15, See the Resolution for the VTM s Conditions of Approval. 2. Site Development Permit No Site Development Permit (SDP) was approved by Resolution R by the City Council on May 15, See SDP for the SDP s Conditions of Approval. 3. Supplemental Environmental Impact Report No The Supplemental Environmental Impact Report (SEIR) No was approved by the City Council by Resolution R by the City Council on May 15, Rezone Ordinance O The Rezone Ordinance O was Final Passed by the City Council on June 5, Community Plan Amendment Navajo Community Plan The Community Plan Amendment (CPA) to the Navajo Community Plan was Final Passed by the City Council on May 15, Mitigation, Monitoring and Reporting Program The Mitigation, Monitoring and Reporting Program (MMRP) was Final Passed by the City Council on May 15, There are various technical studies and reports that have been approved in conjunction with the approval of items 1 through 6 above. The items are: Traffic Impact Analysis The approved Traffic Impact Analysis (TIA) was included as Exhibit B of the approved Supplemental Environmental Impact Report (SEIR) Water Study The Water Study is titled Water Study for CenterPointe at Grantville Commercial/Residential Site, VTM #251403, WO #425043, PTS #80450, by Nasland Engineering, dated March 3, 2006, Amended April 24, Water Quality Technical Report The Water Quality Technical Report is titled Water Quality Technical Report for CenterPointe at Grantville Commercial/Residential Site, VTM #251403, IO # , PTS #178074, Dwg D, by Nasland Engineering, dated August 6, 2009, Amended December 9, 2009, Amended June 7, Amended July 6, Sewer Study The Sewer Study is titled Sewer Study for CenterPointe at Grantville Commercial/Residential Site, VTM #251403, WO # , PTS #80450, by Nasland Engineering dated February 23, 2006, Amended May 5, 2006, Amended July 7, Drainage Study (Hydrology) The Drainage Study is titled Drainage Study for CenterPointe at Grantville Commercial/Residential Site, IO # , PTS #178074, Dwg D, by Nasland Engineering, dated August 5, 2009, Amended December 7, Geo-technical Report The Geo-technical Report is titled Update Geo-technical Evaluation, CenterPointe at Grantville, by Ninyo & Moore, dated June 24, Further Required Plan Development and Approvals Grading and Public Improvement Plans Subsequent to the CenterPointe Project entitlement and report approvals by the City of San Diego, the Owner has pursued the preparation of the project s Improvement Plans (Grading, Water, Sewer and Storm Drain). All of this work is substantially complete and approved by the City; these plans are in the final MYLAR status with the City. Final Map Additionally, subsequent to the CenterPointe entitlement and report approvals by the City of San Diego, the Owner has pursued the preparation of the project s Final Map. The Final Map requires continued preparation and processing with the City; it is anticipated that it will require 6-months to complete this work. Building Drawings By intention, no work has been initiated for the design of the buildings. The buildings will need to have Construction Drawings prepared; they will need to be completed in conformance with the conditions of the Vesting Tentative Map and the Site Development Permit cited above. The Construction Drawings will need to be processed with the City of San Diego in order to obtain Building Permits. Entitlements and Processing

7 Build-Out Summary Due to the expiration of the leases and permitting schedule, the project can be broken out into two macro phases: Phase 1: Construction could begin on any of the lots (A,B,C,H or G) in the first phase (shown in red below) in approximately the 4th Quarter of 2013; with 272 multifamily units and 126,064 safe of office/retail space delivering sometime around the 2nd Quarter of 2015; KAISER Hospital/OFFICE Vander Ave. Existing Office Phase 2 Construction could begin on any of the lots in the second phase (shown in blue below) one year later, in approximately the 4th Quarter of 2014; with 316 multifamily units delivering by the 2nd Quarter of LOT Height (Floors): # Units: Office/Retail: Parking Spaces: A B C H ,264 s.f. 287 G- Adaptive Re-Use 4-54,800 s.f. 137 SUB TOTAL: ,064 s.f. 768 Fairnount Ave. Mission Gorge Rd. D E ,000 s.f. 194 F ,164 s.f. 107 SUB TOTAL: ,164 s.f. 490 PROJECT TOTAL: ,228 s.f. 1,258 Twain Ave. Phase 1 Start: 4th Quarter 2013 Phase 2 Start: 4th Quarter 2014 Development Build-Out Summary

8 Renderings `

9 Renderings

10 Appendix The documents listed below can be downloaded at this link: A. Project Renderings B. Traffic Study C. Environmental Impact Report D. Remaining Cycle Issues E. Geotechnical Evaluation F. Rezone Ordinance G. Community Plan Amendment H. Final Site Development Permit and Resolution I. Mitigation Monitoring and Reporting Program J. Vesting Tentative Map Resolution K. Encroachment Maintenance & Removal Agreement/ Storm Water Maintenance Agreement L. Update Geotechnical Report M. Response to Update Geotechnical Report N. Approved Bond Estimate O. Grading and Improvement Plans (Multiple File Folder) P. Hydrology Study (Multiple File Folder) Q. Water Study R. Water Quality Technical Report S. Sewer Study T. Vesting Tentative Map U. Preliminary Title Report V. Assessor s Parcel Map W. Map Guarantee (First American Title) X. Clear Title Request Y. CoStar Office Report 2Q 2011 Z. CoStar Retail Report 2Q 2011 Za. London Group Market and Feasibility Report 2007 Zb. CentrePointe at Grantville Existing 2011 PL Forecast Zc. Mission Corporate Center Rent Roll Zd. Mission Industrial Park Rent Roll Ze. Mission Office Park Rent Roll Zf. Site and Area Photos Zg. Theoretical Development Schedule Appendix`