Mixed Use in Dallas

Mixed-Use Development Dallas ,Texas

Fall Studio 2012 Miami University 1st year graduate studio

65,800 Sqft

Site Planning Strategies

Connections to Old West End

Ribbon Buildings

131,610 Sqft

32,860 Sqft

36050 Sqft

Parking Within

Existing

Proposed

A1 B

A2

D

A3

C

Totals Hard Costs $14,631,150 $0 $66,025

annual revenues Return on Investment $2,056,480 14.06% $0 0

rentable parking non-rentable

Site A2

rentable parking non-rentable

219,324 163,164 17,282

$25,748,160 $9,207,104 $341,021

$3,593,594 $815,820

13.96% 8.86%

Site A3 FAR A 3.72

rentable parking non-rentable land cost All of A

146,913 47,970 9,725

$15,757,440 $2,561,582 $143,565 $7,896,600

$2,289,292 $239,850

14.53% 9.36%

Site B FAR 3.86

rentable parking non-rentable land cost

254,296 210,350 8,910

$42,926,780 $10,674,478 $53,460 $3,948,000

$4,804,397 $1,051,750

11.19% 9.85%

FAR 5.07

rentable parking non-rentable land cost

182,638 87,800 13,743

$21,440,740 $4,455,522 $250,285 $2,163,000

$2,992,383 $439,000

13.96% 9.85%

FAR 4.45

rentable parking non-rentable land cost

146,111 76,500 14,615

$16,072,210 $3,882,090 $202,773 $1,971,600

$1,953,191 $382,500

12.15% 9.85%

$20,618,257

11.12%

SiteC

Site D

Plaza (site A)

water feature landscaping

totals

$500,000 est $500,000 est 1,724,718

total Rentable area total Buildable area FAR

Site Plan

built square footage 122,736 0 2,641

Site A1

1,072,018 266,320 4.03

$185,393,585

A1 B

A2

D Site A1

A3

C

Parking

sq ft/level

Non rentable Green roof Flat roof

sq ft/level 2641

total Rentable Retail office

Residential

total

levels

sq ft/garage spaces

cost/spot

level

cost

cost sq/ft $25.00 $6.00

4

2641

annual income/sq ft

annual income

Return on investment

cost $66,025 0 $66,025

sq ft/level 18135 18135 15485 15485 14426 14426 13322 13322

level 1 2 3 4 5 6 7 8

cost sq/ft $160.00 $170.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00

122,736

total cost $2,901,600 $3,082,950 $1,548,500 $1,548,500 $1,442,600 $1,442,600 $1,332,200 $1,332,200

annual/income/sq ft $37.50 $17.50 $13.50 $13.50 $13.50 $13.50 $13.50 $13.50

$14,631,150

Return on investment total annual income (95% occupancy) $646,059 22.27% $301,494 9.78% $198,595 12.83% $198,595 12.83% $185,013 12.83% $185,013 12.83% $170,855 12.83% $170,855 12.83% $2,056,480

14.06%

Site A2 Parking underground Above Ground

Usage of Floorspace

sq ft/level 17712 12434 12434

total Non rentable Green roof Flat roof total Rentable Retail office

Residential

Total

levels 5 1 5 11

sq ft/level 12491 4791

sq ft/garage spaces 88560 12434 62170

264 37 186

163164

487

level 4 9

cost/spot cost $25,000.00 $25,000.00 $9,000.00

219,324

annual income/sq ft $5.00 $5.00 $5.00

$9,207,104 cost sq/ft $25.00 $6.00

17282 sq ft/level 29352 29352 29501 29501 26778 26778 24031 24031

$6,608,955 $927,910 $1,670,239

annual income Return on investment $442,800 $62,170 $310,850 $815,820

8.86%

total cost $312,275 28746 $341,021

level 1 2 3 4 5 6 7 8

cost sq/ft $160.00 $170.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00

total cost $4,696,320 $4,989,840 $2,950,100 $2,950,100 $2,677,800 $2,677,800 $2,403,100 $2,403,100 $25,748,160

annual/income/sq ft $37.50 $17.50 $13.50 $13.50 $13.50 $13.50 $13.50 $13.50

Return on investment total annual income (95% occupancy) $1,045,665 22.27% $487,977 9.78% $378,350 12.83% $378,350 12.83% $343,428 12.83% $343,428 12.83% $308,198 12.83% $308,198 12.83% $3,593,594

13.96%

1 A110

Residential Floorplan 3rd floor of A2

1 three-bedroom apt 2 one-bedroom apts

Section SW Stairs stairs work with step back and parking garage

Level A10 100' - 0" Level A9 94' - 0"

Level A8 86' - 0"

Level A7 76' - 0"

Level A6 66' - 0"

Level A5 56' - 0"

Section, Site A2

Level A4 46' - 0"

building steps back from the center

Level A3 36' - 0" Level A10 100' - 0" Level A9 94' - 0" Level A8 86' - 0"

Level A7 76' - 0"

Level 2 18' - 0"

Level A6 66' - 0"

Level A5 56' - 0"

Level A4 46' - 0"

Level A3 36' - 0"

Level 2 18' - 0"

Level 1 0' - 0"

Level 1 0' - 0"

Level A10 100' - 0" Level A8 86' - 0" Level A7 76' - 0" Level A6 66' - 0" Level A5 56' - 0" Level A4 46' - 0" Level A3 36' - 0" Level 2 18' - 0" Level 1 0' - 0"

Site Section Looking North

100' - 0" 94' - 0" 86' - 0" 76' - 0" 66' - 0" 56' - 0" 46' - 0" 36' - 0"

18' - 0" 0' - 0"

Site Section Looking East

Plaza and A2 from Southeast

Public Plaza with Water Feature

Block Parti Architect: Craig Genet Client: Corgan Associates November 30, 2012 Prospectus The time is right for Project Kestrel to return the Old West End of Dallas to the pedestrian. The sprawling downtown Dallas, with its super blocks, highways, and parking lots, has made walking through the Old West End a very unpleasant experience. But in any city, especially Dallas, the most common culprit, the automobile, cannot simply be eliminated to form a magically dense, walkable city. Instead, pedestrian and automobile must exist in a peaceful coexistence, and the pedestrian takes first priority. To achieve this relationship the most critical move in the project is to restore the dense network of streets and small city blocks to a site currently occupied by massive blocks of vast nothingness.

The establishment of many small city blocks goes hand and hand with a dense coverage of buildings that front the all the streets, and therefore make the streets and sidewalks the true center of urban life. Buildings occupy the entire blocks while pedestrians and cars occupy the many streets. A dense network of streets already exists adjacent to the site; it must be embraced.

Pedestrians must walk along side cars on the streets. They cannot be directed into pedestrian malls; such a network or culture for pedestrian malls does not exist in Dallas.

Even though buildings must front every street, they simply cannot be the width of an entire block; instead they take on ribbon shapes. The center of each block behind each building is an ideal place for the parking garages that are necessary for the vast amount of cars necessary for the development. This pattern of high payback ribbon building in front, and low payback parking within, is used with all but one of the buildings.

The dense street grid forces the separation of buildings, prevents the creation of any massive single building that could act as an impenetrable border. Six buildings on four sites may not seem like many, but five of the six are autonomous buildings; that is they include ground floor retail, parking, and either office or residential above it. The buildings are not trying to be independent; they do complement each other spatially and in scale and in scale. However, the different buildings could be built independently and still be profitable, thus, the development can easily be built in stages, and in the future, could be replaced in stages. Each building could also theoretically be designed by a different architect. This diversity in style, use, and age is essential for a successful urban environment.

Summary -

-

-

Total hard costs for the project are estimated at $185 million The estimated annual revenue from the project is estimated at $20.6 million, resulting in a 11.12% return on investment The project respects “As of Rights”…no zoning variances Each site is built as close as possible to the height limit of 100 ft to maximize FAR FAR (see spreadsheet) o A 3.72 o B 3.86 o C 5.07 o D 4.45 o Total 4.03 The area underneath the Woodall Rogers freeway is undeveloped at this point. Possible ideas are simple recreational use such as a skate park or basketball court, as it would provide protection from the hot sun as well as the rain

Retail - All retail is located on the first floor - First level of every building is almost exclusively retail o Only exceptions are the three sides of site B which face the parking lot, railroad, and the Woodall Rogers freeway - A supermarket is planned at the north end of A, with the expectation of attracting customers from the Victory Park development o A supermarket is most likely the lowest value street frontage since, and a supermarket is one of the lowest cost for retail use Office - Most of the office floor space (83%) is in on site B o The site contains no residential since it was expected to be the most difficult to sell residential o This building therefore carries a façade most unique from the other buildings - The main entries to the office building on B form the terminus of two streets that cut through site A, Munger Ave and Corbin St - Office spaces are also dispersed on the second level of A1, A2, C, and D

Residential - Apartments and condominiums are on the upper stories (3-8) of every site except B - Green roofs are placed over top the parking garages and serve as semi-private interior courtyards - Private balconies for almost every apartment o Only exceptions are those apartments on the lowest level facing inward from the street, these are the apartments that front the green roofs - The roof and faรงade systems are developed based on the size of the apartments behind them, and give a greater sense of identity to the residences - The facades clearly delineate which is retail, office, and residential Parking - Parking is found within each building, or underneath the buildings o Other than the entrances, parking is entirely shielded from the street - Slightly more than half the parking is located underground - Most of the parking is on a slope within the garages which runs perpendicular to the parking spots - All the levels of parking in each garage are linked as one continuous, often sloping, level, much like the threads of a screw Park, Plaza - The plaza is one large space as opposed to a series of smaller plazas - Located at the center of the entire development - A water feature is in the middle that people can interact with o Similar to the most popular spot in the arts district, the water feature at the Winspear Opera House - A strong visual connection exists between the park and the streets, storefronts, residences, and the main entry to the office building on site B Thank You

Site A1 Parking

sq ft/level

Non rentable Green roof Flat roof

sq ft/level 2641

total Rentable Retail office

Residential

total

levels

sq ft/garage spaces

cost/spot

level

cost

cost sq/ft $25.00 $6.00

4

2641

annual income/sq ft

annual income

Return on investment

cost $66,025 0 $66,025

sq ft/level 18135 18135 15485 15485 14426 14426 13322 13322

level 1 2 3 4 5 6 7 8

cost sq/ft $160.00 $170.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00

122,736

total cost $2,901,600 $3,082,950 $1,548,500 $1,548,500 $1,442,600 $1,442,600 $1,332,200 $1,332,200

annual/income/sq ft $37.50 $17.50 $13.50 $13.50 $13.50 $13.50 $13.50 $13.50

$14,631,150

total annual income (95% occupancy) Return on investment $646,059 22.27% $301,494 9.78% $198,595 12.83% $198,595 12.83% $185,013 12.83% $185,013 12.83% $170,855 12.83% $170,855 12.83% $2,056,480

14.06%

Site A2 Parking underground Above Ground

sq ft/level 17712 12434 12434

total Non rentable Green roof Flat roof total Rentable Retail office

Residential

Total

sq ft/level 12491 4791

levels 5 1 5

sq ft/garage spaces 88560 12434 62170

264 37 186

11

163164

487

level 4 9

cost/spot cost $25,000.00 $25,000.00 $9,000.00

219,324

annual income/sq ft $5.00 $5.00 $5.00

$9,207,104 cost sq/ft $25.00 $6.00

17282 sq ft/level 29352 29352 29501 29501 26778 26778 24031 24031

$6,608,955 $927,910 $1,670,239

annual income Return on investment $442,800 $62,170 $310,850 $815,820

8.86%

total cost $312,275 28746 $341,021

level 1 2 3 4 5 6 7 8

cost sq/ft $160.00 $170.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00

total cost $4,696,320 $4,989,840 $2,950,100 $2,950,100 $2,677,800 $2,677,800 $2,403,100 $2,403,100 $25,748,160

annual/income/sq ft $37.50 $17.50 $13.50 $13.50 $13.50 $13.50 $13.50 $13.50

total annual income (95% occupancy) Return on investment $1,045,665 22.27% $487,977 9.78% $378,350 12.83% $378,350 12.83% $343,428 12.83% $343,428 12.83% $308,198 12.83% $308,198 12.83% $3,593,594

13.96%

Site A3 Parking underground Above Ground

sq ft/level 5330 5330

levels

total Non rentable Green roof Flat roof total

5 4

sq ft/garage spaces 26650 21320

80 64

9

47970

143

sq ft/level 4485 5240

level

cost/spot cost $25,000.00 $9,000.00

9725

Rentable Retail

Residential

total

annual income/sq ft $5.00 $5.00

$2,561,582 cost sq/ft $25.00 $6.00

4 4

$1,988,806 $572,776

annual income Return on investment $133,250 6.70% $106,600 18.61% $239,850

9.36%

total cost $112,125 31440 $143,565

sq ft/level 17769 18795 18795 19916 18626 18628 17192 17192

level 1 2 3 4 5 6 7 8

cost sq/ft $160.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00

146,913

total cost $2,843,040 $1,879,500 $1,879,500 $1,991,600 $1,862,600 $1,862,800 $1,719,200 $1,719,200

annual/income/sq ft $37.50 $13.50 $13.50 $13.50 $13.50 $13.50 $13.50 $13.50

$15,757,440

A1, A2, and A3 Buildable area 131,610 FAR 3.72

$60

total annual income (95% occupancy) Return on investment $633,021 22.27% $241,046 12.83% $241,046 12.83% $255,423 12.83% $238,878 12.83% $238,904 12.83% $220,487 12.83% $220,487 12.83% $2,289,292

14.53%

$7,896,600

Site B Parking underground Above Ground

sq ft/level 21035 21035

total Non rentable Green roof Flat roof total

sq ft/level

levels 5 5

sq ft/garage spaces 105175 105175

314 314

10

210350

628

level

0 8910

8

cost/spot cost $25,000.00 $9,000.00

office

total Buildable area FAR

sq ft/level 30354 31639 31639 40166 40166 40166 40166

cost sq/ft $25.00 $6.00

annual income Return on investment $525,875 6.70% $525,875 18.61% $1,051,750

9.85%

total cost $0 53460 $53,460

level 1 2 3 4 5 6 7

cost sq/ft $160 $170 $170 $170 $170 $170 $170

254,296 65,800 3.86

annual income/sq ft $5.00 $5.00

$10,674,478

8910

Rentable Retail

$7,848,881 $2,825,597

total cost $4,856,640 $5,378,630 $5,378,630 $6,828,220 $6,828,220 $6,828,220 $6,828,220 $42,926,780

$60

$3,948,000

annual/income/sq ft $37.50 $17.50 $17.50 $17.50 $17.50 $17.50 $17.50

total annual income (95% occupancy) Return on investment $1,081,361 22.27% $525,998 9.78% $525,998 9.78% $667,760 9.78% $667,760 9.78% $667,760 9.78% $667,760 9.78% $4,804,397

11.19%

Site C Parking underground Above Ground

sq ft/level 8780 8780

levels

total Non rentable Green roof Flat roof total Rentable Retail office

Residential

total Buildable area FAR

5 5

sq ft/garage spaces 43900 43900

131 131

10

87800

262

sq ft/level 8833 4910

level

cost/spot cost $25,000 $9,000

annual income/sq ft $5.00 $5.00

$4,455,522 cost sq/ft $25.00 $6.00

4 9

$3,276,119 $1,179,403

13743

annual income Return on investment $219,500 6.70% $219,500 18.61% $439,000

9.85%

total cost $220,825 29460 $250,285

sq ft/level 24438 24438 24701 23065 23065 20977 20977 20977

level

cost sq/ft $160 $170 $100 $100 $100 $100 $100 $100

1 2 3 4 5 6 7 8

182,638

total cost $3,910,080 $4,154,460 $2,470,100 $2,306,500 $2,306,500 $2,097,700 $2,097,700 $2,097,700

annual/income/sq ft $37.50 $17.50 $13.50 $13.50 $13.50 $13.50 $13.50 $13.50

total annual income (95% occupancy) Return on investment $870,604 22.27% $406,282 9.78% $316,790 12.83% $295,809 12.83% $295,809 12.83% $269,030 12.83% $269,030 12.83% $269,030 12.83%

$21,440,740

36,050 5.07

$60

$2,992,383

13.96%

$2,163,000

Site D Parking underground Above Ground

sq ft/level 7650 7650

total Non rentable Green roof Flat roof total Rentable office

Residential

Total Buildable area FAR

sq ft/level 6057 8558

levels 5 5

sq ft/garage spaces 38250 38250

114 114

10

76500

228

level 4 9

cost/spot cost 25000 9000

cost sq/ft $25.00 $6.00

annual income Return on investment 191250 6.70% 191250 18.61% $382,500

9.85%

total cost $151,425 51348 $202,773

level 2 3 4 5 6 7 8

cost sq/ft $170 $100 $100 $100 $100 $100 $100

146,111 32,860 4.45

5 5

$3,882,090

14615 sq ft/level 20873 20873 20873 20873 20873 20873 20873

annual income/sq ft $2,854,478 $1,027,612

total cost $3,548,410 $2,087,300 $2,087,300 $2,087,300 $2,087,300 $2,087,300 $2,087,300 $16,072,210

$60

$1,971,600

annual/income/sq ft $17.50 $13.50 $13.50 $13.50 $13.50 $13.50 $13.50

total annual income (95% occupancy) Return on investment $347,014 9.78% $267,696 12.83% $267,696 12.83% $267,696 12.83% $267,696 12.83% $267,696 12.83% $267,696 12.83% $1,953,191

12.15%

Totals built square footage 122,736 0 2,641

Hard Costs $14,631,150 $0 $66,025

annual revenues Return on Investment $2,056,480 14.06% $0 0

Site A1

rentable parking non-rentable

Site A2

rentable parking non-rentable

219,324 163,164 17,282

$25,748,160 $9,207,104 $341,021

$3,593,594 $815,820

13.96% 8.86%

Site A3 FAR A 3.72

rentable parking non-rentable land cost All of A

146,913 47,970 9,725

$15,757,440 $2,561,582 $143,565 $7,896,600

$2,289,292 $239,850

14.53% 9.36%

Site B FAR 3.86

rentable parking non-rentable land cost

254,296 210,350 8,910

$42,926,780 $10,674,478 $53,460 $3,948,000

$4,804,397 $1,051,750

11.19% 9.85%

FAR 5.07

rentable parking non-rentable land cost

182,638 87,800 13,743

$21,440,740 $4,455,522 $250,285 $2,163,000

$2,992,383 $439,000

13.96% 9.85%

FAR 4.45

rentable parking non-rentable land cost

146,111 76,500 14,615

$16,072,210 $3,882,090 $202,773 $1,971,600

$1,953,191 $382,500

12.15% 9.85%

$20,618,257

11.12%

SiteC

Site D

Plaza (site A)

water feature landscaping

totals

$500,000 est $500,000 est 1,724,718

total Rentable area total Buildable area FAR

1,072,018 266,320 4.03

$185,393,585