A New Vision For Highland

Transcription

1 A New Vision For Highland ULI Austin Breakfast Wednesday April 24, 2013 Dr. Richard Rhodes President/CEO Austin Community College Panelists: Chris Riley Councilmember Place 1 City of Austin Matt Whelan Principal RedLeaf Properties, LLC & Live Oak Gottesman Moderator: Jay Hailey Partner DLA Piper EVENT SPONSORS `

2 City of Austin Council Member Chris Riley A New Vision for Highland

3 Austin

4 Poor Infrastructures

5 Autos, auto uses, & auto-dependent uses Potential Redevelopment Characteristics Similar to other Austin Corridors

6 Potential Redevelopment Characteristics Similar to other Austin Corridors

7 Local business & community treasures Potential Redevelopment Characteristics Similar to other Austin Corridors

8 The Vision Environmental stewardship Walkable, mixed-use, transit-oriented centers Preserving established neighborhoods

9 Form Codes

10 Current Regulations are challenging the vision

11 Vision North of Koenig Lane

12 Vision South of Koenig Lane

13 ACC Highland Urban Land Institute, Austin April 24, 2013

14 ACC Overview ACC at-a-glance 43,315 credit students, fall ,000 non-credit students annually 77% part time; 23% full time 30% on Pell Grants 30 school district partnerships Strong partnerships with UT Austin, Texas State, and WGU 8 campuses + 2 under construction (Elgin/Hays) White Hispanic Black Asian Student Population by Ethnicity, Fall 2012 American Indian/Alaskan Native Multi-racial/ethnicity Other/Unknown

15 Pride Points Top choice among area high school graduates Top 100 associate degree and certificate producer Most transfer students to area universities, where they perform as well as or better than native students Outstanding pass rates for licensure exams Highest CPA pass rate in Texas, 99.6% Nursing (R.N.) pass rate 50% of GED grads go on to college 20% state, 30% national AA+ Standard & Poor s bond rating Low tax rate ($0.0951) and generous exemptions

16 Facility Facts And YES, We Bought a Mall First phase of ACC Highland opening fall 2014

17 Highland Mall Site Plan

18 ACC Highland, Phase I Phase I Opens Fall 2014 Rendering by Elizabeth Day, courtesy BGK Architects

19 ACC Highland, Phase I Rendering by Elizabeth Day, courtesy BGK Architects Former J.C. Penney 200,000 square feet 6,200 capacity Nation s Largest Math Emporium 600 seats/computers Library Student Union

20 Student Success Got my GED at 25. Math was my biggest fear until Math Its real-world, practical approach made sense. Now, I m one class away from the Nursing Program. LaSonya M. Pre-Nursing Student

21 RedLeaf Properties, LLC Matt Whelan A New Vision for Highland

22 Overview LOCATION ATTRIBUTES 81 acres 4 miles from downtown Austin and 3 miles from Univ. of Texas Campus Highland Station (Rail) Easy Access to multiple transit options In-place infrastructure Highland Mall University Of Texas 1.2 million SF of existing buildings Existing 2.0 FAR +/-7 million SF CS-MU-V-NP 98% existing Impervious Cover Downtown Austin

23 Illustrative Plan Preliminary Development Program Acres of Land 81 Institutional SF 1,300,000 Residential Units 1,200 Office SF 800,000 Retail SF 150,000 Hotel Rooms 200 *Illustrative plan subject to change Total SF Planned: 3,510,000

24 Trends Macro Trends Attraction to urban centers Convenience to employment, entertainment, education and services Compact, pedestrian friendly-development with mix of uses Broader acceptance of alternative transportation including transit Repurposing of failing regional malls Local Responses Increased focus on transit In-fill development Mixed-use projects Redevelopment of outdated uses Corridors

25 Austin Corridors South Lamar 2,200 multifamily units under construction/recently delivered Denser, mixed-use development replacing auto-related businesses MetroRapid launch in 2014 East Riverside East Riverside Corridor Master Plan adopted in ,300+ multifamily units underway or delivered in mixed-use projects Retail redevelopment and other uses planned Lady Bird Lake trail improvements/boardwalk Burnet Retail revitalized on numerous properties along corridor Multiple multifamily projects completed or underway

26 Nearby Redevelopment Before After

27 The Plan Redevelopment of Highland Mall Responds to macro real estate trends Mixed-use In-fill Transit oriented development Austin market is accepting of redevelopment Consistent with local development patterns i.e. corridor redevelopment Consistent with Imagine Austin

28 The Plan

29 A New Vision For Highland ULI Austin Breakfast Wednesday April 24, 2013 Dr. Richard Rhodes President/CEO Austin Community College Panelists: Chris Riley Councilmember Place 1 City of Austin Matt Whelan Principal RedLeaf Properties, LLC & Live Oak Gottesman Moderator: Jay Hailey Partner DLA Piper EVENT SPONSORS `