Hines Competition 2010

Page 1

Regional Transportation Diagram

AN EXPERIMENT ON SUSTAINABLE LIVING

Existing Figure Ground

Proposed Figure Ground

Phasing Diagram

/ Green Village

Legend First Phase

person and place

Second Phase Third Phase Existing Buildings

East Village Pro Forma

East Village - Green Village project is an Experiment on Sustainable Living in Downtown San Diego that promotes Wellness of Person and Place.

Two-Way Street Section

Park (12th) Street Section

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Bus 0’ Greenways

1488 Native Trees and Shrubs along with green roofs and

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Bike Green Parking Way

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Axon View to Park

Land Use Diagram

Site Plan

Site Transportation Diagram

pervious surface manage storm water runoff

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Legend Retail/Restaurant

Concept Diagrams

Education

View of Park and Bike Share.Store.Repair

Hotel Third Floor and above

Relocated Substation

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Green Pathways start in East Village and can extend

to surrounding neighborhoods and districts to http://www.juliewaltonshaver.com/ blog/2009/05/12/1414/

provide a unifying system of pedestrian and bike-friendly pathways through downtown

Land use Diagram

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Green Roofs

Bus Substation Park with Underground Parking

Bike Rack/Storage Car Share

Bike Share.Store.Repair

walkability, bikeability, and well-being by enticing its citizens to explore the woven pattern of space. http://images.businessweek.com/ss/06/07/ toyota/source/5.htm

Incentives for shared transportation Buildings bridge streets to extend usable space and to

Ample bike racks and storage facilities near bus stops and parking vibrant streetscape enhances walkability

open the center of the blocks creating lights http://greene.ces.ncsu.edu/content/ Permeable+Pavement

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that run throughout the village.

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The break from the conventional grid pattern allows a new ebb and flow of uses, intimate public spaces, and a grand public park. At the foot of the park is the East Village bike tower encouraging residents and visitors to get out of the car. It is a building where patrons can store, rent, and repair bikes while also tending to their personal hygiene needs. It is located next to major bus lines, parking, and the San Diego trolley system making it convenient for users.

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The current value of the East Village site is worth $31 Million in net present value terms. The project will require a total of $55 Million in public subsidies to be fully realizable. This subsidy will be composed of a $15 Million subsidy for the development of the park, which will most likely come from the CCDC. In addition, the project will require a $40 Million subsidy for the relocation of the substation, which will most likely come from the City of Sand Diego or through TIF financing.

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With the reinvention of East Village, traveling takes on new meaning. This new fabric

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Equity for the project comes from three sources: low-income housing tax credits, the developer, and an outside equity partner. The project, as currently conceived results in a positive unleveraged IRR of 13.5%, with a leveraged IRR (at a 70/30 LTV ratio) of 23%.

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