Cherokee Corporate Headquarters 111 East Hargett Street Suite 300 Raleigh, NC 27601 919-743-2500 Denver 4600 S. Ulster Street Suite 500 Denver, CO 80237 303-689-1460 London 41-43 Maddox Street London W1S 2PD 44-20-7629-9993 www.cherokeefund.com
Cherokee Mission Statement We acquire environmentally impaired properties. We safely remediate sites. We return these properties to productive community use.
Introduction to Cherokee Cherokee is the largest redevelopment firm of its kind More than $1.6 billion of assets under management Over 520 properties acquired since 1990 $3 billion in available capital More than $250 million will be spent on remediation Investors include public employee pension funds, corporate funds, endowments and foundations Cherokee Denver, LLC, a wholly-owned subsidiary of Cherokee Investment Partners Fund II
Cherokee Business Model Invest in large, brownfield sites or corporate portfolios with sound underlying real estate fundamentals. Enhance value through management and development activities including sustainable planning, re-entitlement, remediation, risk transfer and insurance Target positive economic, social and environmental outcomes
Redevelopment Experience Investments span a wide range of property types and locations Sample Projects in North America Vallejo Former flour mill -- Redevelopment with green building and waterfront park re deve lopment San Francisco Former paint factory -- residential re deve lopment South San Francisco Former paint factory biotechnology re deve lopment Newport Beach 402-acre operating oilfield residential re deve lopment Denver Former rubber mfg -- 6 mm sq ft transitorie nted deve lopment Raleigh Former regional mall with groundwater contamination -- New urbanism lifestyle center re deve lopment Charleston 400 acres of chemical and mfg -- Mixed-use redevelopment w/5000+ re sidential units Montreal 232 acre auto mfg outside of Montreal -- Mixed-use, transit oriented de ve lopment New Jersey 1200 acres of landfill Mixed-use, transit-oriented re deve lopment
Transit Master Developer Opportunities Cherokee selected as Master Developer for: Charlotte North Line CATS Dallas Transit DART
Master Developer Benefits Facilitates Market-Based Development and Creation of Opportunities for Local Interests Encourages Smart Growth Land Use Planning Balances Needs between Community and Business Interests Complementary Development Provides Large Scale, Long Term Community Revitalization Vision Enhances Investment Opportunities through Public-Private Partnerships
Role of Master Developer Develop land acquisition strategy Manage project design and development strategy Develop schedule and budget Manage project permitting, zoning and development rights Develop public/private financing structure Manage the construction of macro-infrastructure Complete vertical developer selection process Negotiate, implement and coordinate with vertical developers Ascertain and implement exit strategy that sustains TOD viability Manage public relations for the project
Cherokee s Redevelopment of the Former Gates Rubber Factory
Cherokee Denver
Site Facts 50 Acres Cherokee Land Separated by Consolidated Main Line (CML) Directly adjacent to RTD s Broadway/ I-25 Station - 18 acres Vanderbilt Park East dedicated city open space Park
The Opportunity 50 acre in-fill site 10-15 minutes by train to major centers 3 miles to CBD; 7 miles to DTC Daily Cars: SantaFe 100K I-25 157K Broadway 45K Stable, attractive neighborhoods Extraordinary Mountain, CBD Views Perfect Site for Transit Oriented Development I-25 C-Line Mineral to Union Station D-Line Mineral to 30th & Welton SantaFe I-25 I-225 E/F-Line Lincoln or Dayton To Broadway
FasTracks 119 miles of new light rail and commuter rail 18 miles of bus rapid transit service 21,000 new parking spaces at rail and bus stations Expanded bus service in all areas
Implementing the City s Vision for the Site The Front Range will grow by 1 MM people over next 20 years Denver by 132,000 Divided City into Areas of Change & Areas of Stability Gates TOD represents a singular opportunity high density housing, employment... perfect blend of uses and access to create a model TOD Established TMU-30 zoning parking reductions, 5.0 FAR, flexible uses, etc.
Extensive Community Participation Cherokee Denver Redevelopment Advisory Committee (CDRAC) 2 representatives from 13 RNOs and stakeholder groups Acted as liaison to the broader community Monthly meetings on wide range of topics: Rezoning, Environmental, General Development Plan, Design Guidelines, Public Finance Environmental 3 Community-wide environmental meetings sponsored by Councilwoman MacKenzie s office with Cherokee, CDPHE, Denver Environmental Health, and EPA involvement. Voluntary Cleanup Advisory Board (VCAB)
Extensive Community Participation Visioning 19 introductory neighborhood / community meetings More than 45,000 postcards mailed, inviting neighbors to eight neighborhood meetings More than 300 neighbors and interested persons attended meetings Implementation City Working Group - ongoing bi-weekly meetings with staff to address the needs of the project Presentations to Community Groups and city-wide tour on Design Guidelines
The Vision Active Public Realm Connections Scale, Transition Active Transit Facility Pedestrian Friendly Mixed-Use, Mixed- Income Density
Conceptual Renderings
Redevelopment Master Plan 4 7 million Square Feet 4 to 12 Stories Up to 4,000 residential units Up to 4 million Square Feet of commercial retail entertainment, services, office 10 to 15-year build out
Conceptual Renderings
Community Vision Jobs Community Benefits Creates the Region s Premier Mixed-use, Mixed-income TOD Increases Utilization of Light Rail Transit Integrates with surrounding neighborhoods Manages Growth and Reduces Sprawl Eliminates Blight and Environmental Contamination Over 8,000 Construction-Related Jobs (Person Years) Over 5,000 Permanent Jobs Utilizes Prevailing Wage, First Source, SBE
Community Benefits Housing and Community Development Increases Affordable Housing Opportunities 10% for-sale @ 95% AMI 20% for-rent (50% @ 50% AMI; 50% @ 30% AMI) Funds Public Art Component Develops Parks, Plazas and Additional Open Space (Deeded to City) Financial Return to Community Generates over $1 Billion in Private investment Generates over $16 Million per year incremental tax revenue at 2032 Provides Participating Interest to City of Developer s Upside
RTD Station
Questions Ferd Belz 4600 S. Ulster Street Denver, CO 80237 303.689.1460 fbelz@cherokeefund.com