"The Edge"

Page 1

THE EDGE

SITE PLAN

2. MARTA T.O.D. FROM BANK OF AMERICA PODIUM 15

Proposed

TURNING CONSTRAINTS INTO OPPORTUNITIES

1

Retail & Flex Tech Space 7

2

Renovated 3rd Street Tunnel

3

Housing, Retail & Flex Tech Space

4

Housing, Retail & Laboratory Space

5

Technology & Arts Academy

6

Ponce De Leon Pedestrian Street

7

West Edge Park - The “Wedge”

8

Midtown Public Library

9

MARTA Station & Housing

17

16

10 Proposed Streetcar Stops 11 Housing & Retail 7

12 MARTA 2.0 Housing & Retail

P

P

1

1

P

13 Renovated Bank of America Tower 14 Bank of America Podium P

2

Proposed Underground Parking 18

Existing 15 5th Street Bridge

P

16 Georgia Tech Global Learning Center 7

17 Scheller College of Business

CONNECT

OPPORTUNITY FOR ICONIC OPEN SPACE

712,800 SQ FT OF CLASS A OFFICE SPACE 52% VACANT

UNINTERRUPTED EDGE

ROOM FOR 475 CONDOMINIUMS

A NEIGHBORHOOD WITHOUT A STRONG IDENTITY

A NEW VIBRANT COMMUNITY

20 Fox Theatre 6

21 Children’s Center at All Saints’

8

STRONG OUTSIDE FORCES

DISTRICT CONNECTIONS

MIDTOWN CONNECTIONS

FIGURE GROUND BEFORE

FIGURE GROUND AFTER

Piedmont Park

North-South MARTA Line

24 25

CONSTRUCTION

5 2 %

23 22

10 10

TYPICAL CONDO FLOOR UNIT MIX

North Ave NW

2

12

Existing Parking

11

P

13

26

4 BEDROOM 3 BEDROOM 2 BEDROOM 1 BEDROOM STUDIO

2 3 2 5 10

FLOOR TOTAL

22

CONVERT

V A C A N T

DEVELOPMENT SUMMARY

CONDO SALES

SOLD.

475 units sold

SOLD.

CONSTRUCTION

14 AVERAGE UNIT SIZE 1,377 SF *1 parking space sold per condo unit

2016 P

PHASE ZERO 2016 - 2017

Allocation Residential: 0 units Retail: 0 ft2 Office: 602,648 ft2 Public: 0 ft2 Open Space: 0 ft2

Streetcar

2019

YEAR 1

YEAR 2

TOWER CASH FLOW

250

500 Feet

THE “WEDGE” WEST EDGE PARK

A DAY IN THE LIFE SITE USERS & FORCES

1. THE WEDGE

Summary Purchase and renovation of Bank of America Tower, to convert unused office space to condominiums.

Young Child & Family Support Local medical services, neighborhood child care, early education programs, and affordable family housing.

AGE 24

After graduation, her and two friends create a tech start-up.

Summary Development of Blocks A & B and MARTA station air space. Additional development (MARTA 2.0) on NW corner of Block F to support TOD development.

High School & University Education Magnet program at Technology & Arts Academy, and a top-tier higher education institution (Georgia Tech).

1996 Summer Olympics in Atlanta 1961 Georgia Tech voluntarily desegregates

Residential Retail Office Public Open Space

Cumulative Total

0 Units 0 ft2 602,648 ft2 0 ft2 0 ft2

Residential Retail Office Public Open Space

1,447 Units 110,500 ft2 908,648 ft2 45,000 ft2 133,500 ft2

1,822 Units 133,500 ft2 908,648 ft2 254,000 ft2 133,500 ft2

Continuous Loop

Accentuated Street Ends

Reduced Traffic Noise

Provided Views

E. RESOLVING THE EDGE

A Timeline of Art

SOUND

Average Highway Noise: 70-80 dB at 50 ft Noise Reductions: Median: 5-10 dB; Cantilevered Earth Berm: 10-15 dB; Vegetation: Psychological Relief

URBAN FORESTRY

Mitigate heat island effect while improving human experience 510 trees in site area: 3 lbs of CO2 sequestered per tree per year = 1,530 lbs total, 1 ton every 15 months

HYDROLOGY:

The family moves into an affordable unit with a view of downtown.

SOUND SHADOW

PREVAILING W

INDS

75,000 ft2 IMPERVIOUS SURFACE

Emory University Hospital Midtown

A baby is born at Emery University Hospital.

30,000 ft3 BIOCELLS

6 hrs- rainwater exceeds 6” paver and biocell storage, improved overflow directed to cistern storage and sewer PEAK FLOW = 8.25 ft3/second

213,000 GALLONS TREATED

24+ greywater available for water availabe for irrigation, clean H2O enters Peach Creek

TO GEORGIA TECH >

INCREASE MASS

AGE 0

0 hrs - rainwater infiltrates. suspended particulates removed

50’ VEGETATED BUFFER

Georgia State University Dorms

SPRING ST. BIOCELLS

10 YR, 24 HR STORM EVENT (6” ACCUM.)

RETAIL FRONTAGE

AGE 30

They lease a larger space, and their business continues to grow.

PARK ING

SCULPTURAL AIR SCRUBBING FACADE

Dashboard Co-op Gallery

BIOSWALE

The young child attends the Children’s Center at All Saints’.

LID Principles: Slow, Soak, Spread Total stormwater managed for quality control: Green Roof= 45,000 sf // Permeable Pavers= 30,000 sf // Bioretention Cells = 60,000sf

EDGE CIT Y C YCLES

Fox Theatre

CISTERN SYSTEM FOR IRRIGATION

AGE 3 Georgia Tech Campus

1,822 Units 133,500 ft2 908,648 ft2 254,000 ft2 133,500 ft2

65’ min. Vegetated buffer scrubs VOCs, reduces particulate pollution by 40-75% (USDA) Cantilevered berm redirects prevailing winds, barriers move plume upwards Experimental titanium dioxide facade breaks down NOx and VOCs with sunlight

She attends the Technology & Arts Academy with a focus on programming.

AGE 1

Residential Retail Office Public Open Space

AIR QUALITY

1864 Atlanta is rebuilt Existing Consistent Edge

Cumulative Total

Residential Retail Office Public Open Space

AGE 14

She begins pursuing a BS in Computational Media at Georgia Tech.

0 units 0 ft2 0 ft2 0 ft2 0 ft2

Summary Stabilization of built-out parcels to take advantage of existing cash flow and build value before liquidation.

Cumulative Total

1921 The Varsity opens

Early Career & Entrepreneurship Post-grad opportunities at Tech Square and local incubators, and support for burgeoning companies.

AGE 18

Allocation Residential: Retail: Office: Public: Open Space:

2003 Tech Square innovation district opens Cumulative Total

Technology Square

PHASE THREE 2025 - 2027

Summary Construction of public library adjacent to the Varsity, and middle/high school with adjacent mixed-use buildings. Mixed-use development on BP station site.

SOUND BARRIER

125

Allocation Residential: 375 units 23,000 ft2 Retail: 0 ft2 Office: Public: 209,000 ft2 Open Space: 0 ft2

TUNNEL ART

0

PHASE TWO 2022 - 2024

Allocation Residential: 1,447 units 110,500 ft2 Retail: 306,000 ft2 Office: Public: 45,000 ft2 200k ft2 Open Space:

EXTENSIVE GREEN ROOF

N

PHASE ONE 2018 - 2021

PUBLIC ACCESS

I-75/85 Connector

2018

3,413,643 ft2 20% 23%

Total Ft2 Developed Unleveraged IRR Leveraged IRR

27

North Ave Bridge

Ped Street I-75/85 Connector

OPPORTUNITY YEARS

2017

STREET TREES EVERY 40’ PRIMARILY WILLOW OAKS

East-West MARTA Line

Bike

PERMEABLE PAVER

Site

PARKING EXISTING NOI

BIOCELL S

Crosstown/Midtown Streetcar

1,189 units 158 units 475 units 306,000 ft2 133,500 ft2 1,286 spaces 120,000 ft2 134,000 ft2

Market-rate Residential Affordable Residential Condominiums Flex Office Space Retail Structured Parking School Expansion Library

SOLD.

CONSTRUCTION

STREET DIET

Midtown Site

RENOVATION RENOVATION

7

27 Melia Hotel P

RENOVATION

9

25 All Saint’s Episcopal Church

5th St Bridge Atlanta BeltLine

RENOVATION

23 The Varsity Sign

GROWING CONNECTIVITY

Current Value $17,054,488

OFFICE EXISTING NOI

21

26 Georgia Center REGIONAL CONNECTIONS

CAPTURE

22 North Avenue Bridge

24 The Varsity

UNDESIRABLE SPACE

Projected Value $1,553,844,481

19 20

18 DEVELOPABLE ACRES A PLACE FOR A LINEAR COMMUNITY PARK

AVERAGE RENTABLE SF = 23,280 SF / FLOOR

19 AT&T Tower

OPPORTUNITY FOR A VIBRANT COMMUNITY

300,000+ CARS PER DAY

CREATING VALUE

MASTERPLAN REDEVELOPMENT BEGINS

5

18 Olympic Tower

CREATE

GLASS HALF FULL CAPTURING RESIDUAL VALUE IN BANK OF AMERICA TOWER

VISUAL BUFFER

OPPORTUNITY FOR ADAPTIVE REUSE

P

P

4

CONSISTENT PAVING

CATALYZE

3

TEAM 169810


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