The Ascend West Water Street Development ULI Competition Team Number 2
November 2016
ULI Competition Proposal: The Ascend
November 2016
Project Team Architecture
Sadaf Arsalani, Master of Architecture
Architecture
Kellie Dunaway, Master of Architecture
Real Estate
Andrew Hannah, Bachelor of Business Administration, Real Estate
Planning
Sadaf Khalilzare, Master of Community Planning
Business
Sutanu Majumdar, Master of Business Administration
ULI Competition Proposal: The Ascend
Executive Summary The Ascend will develop 20.6 acres across three parcels: - two parcels owned by Hilltop Basic Resources (Parcels A & B) - third parcel owned by Hamilton County (Parcel C) Project Goals: - bringe more population to the riverfront - enhance the experience of living downtown - extend the park system west along the river - create a new market in a previously industrial-dominated area Major Nearby Amenities: - Great American Ballpark - Paul Brown Stadium - The Banks - Smale Riverfront Park
November 2016
ULI Competition Proposal: The Ascend
November 2016
Executive Summary Proposed Development: - Residential complex of 203 family units at market rate - Commercial space of 246,000 SF - office, hotel, retail, restaurants, gym - Addition to park system: variety of park spaces, boardwalk - Parking facilities to accomodate needs of the development and surrounding attractions Theme of Healthy Urban Living RESTAURANT:
ULI Competition Proposal: The Ascend
November 2016
Background & Site Overview Desired way of living for Millenials, Baby Boomers, and Generation Z: - Downtown apartments - Leisurely walks along riverfront - Harmony between work and life This site can act as a gateway for Cincinnati - contributing to new ideas of urbanism through sustainable, walkable cities. The location of this site can illustrate the identity of Cincinnati for visitors: - proximity to transportation, residential complexes, employment, & sports and recreation - riverfront location facing Northern Kentucky - diverse and growing population - fast adoption of technology - rising awareness of sustainability - local entrepreneurs seeking space and capital
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ULI Competition Proposal: The Ascend
November 2016
Zoning
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Existing Zoning: General Manufacturing & Riverfront Manufacturing (Parcels A & B) Planned Development (Parcel C)
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Proposed Zoning Change: Change: Planned Development (Parcels A & B) Keep: Planned Development (Parcel C)
ULI Competition Proposal: The Ascend
Design: City Analysais
Green infrastructure Recreation Residential Commercial Cultural Mixed Use Religious Industrial
November 2016
ULI Competition Proposal: The Ascend
November 2016
Design: Site Access
Commute to Downtown: 3 minutes Commute to to Downtown: Commute Downtown: 13 minutes 33 minutes minutes 5 minutes 1313 minutes minutes minutes 5 22 minutes 5 minutes 2222 minutes minutes 47
Walk Score: Car Dependent most errands require a car
Score: Car Dependent 47 Walk Walk Score: errands require aCar car Dependent 47 most most errands require a car 62 Transit Score: Good Transit
many nearby public transportation options
Score: Good Transit 62 Transit Transit Score: Good Transit nearby public transportation options 62 many many nearby public transportation options Score: Somewhat Bikeable 47 Bike Flat as a pancake, minimal bike lanes Score: Somewhat Bikeable 47 Bike Score:minimal Somewhat as a pancake, bike lanes Bikeable 47 FlatBike Flat as a pancake, minimal bike lanes
500 ’ 500 ’ 500
’
100 0 100 ’ 0’ 100
0’
150 1500’ 0’ 150 0’
200 200 0’ 0’ 200
0’
N
N N
crosswalk crosswalk crosswalk stop sign stop sign stop sign stoplight stoplight stoplight Rt. 85 shuttle stop Rt. 85 shuttle stop Rt. shuttle stop Red85 Bike station Red Bike station Red Bike station Ohio River Trail bike path Ohio River Trail bike path shared roadway: autopath + bike Ohio River Trail bike shared roadway: auto + bike distance radii shared roadway: auto + bike distance radii distance radii
ULI Competition Proposal: The Ascend
November 2016
Design: Site Analysis floodplain noise radii bridge clearance
water easement
temp. construction easement sewer easement
Ohio River setback views from site highway bridges
71dB
74dB
80dB
70dB
wind
64dB 61dB
easement
500
’
distance radii
100
0’ 150
0’ 200
0’
N floodplain noise radii bridge clearance
water easement
temp. construction easement sewer easement
Site Analysis
Ohio River setback
scale: 1” = 400’
views from site highway bridges
71dB
74dB
80dB
70dB
wind
64dB 61dB
easement
500
’
distance radii
100
0’ 150
0’ 200
0’
N
ULI Competition Proposal: The Ascend
Site Plan
November 2016
ULI Competition Proposal: The Ascend
November 2016
Site Plan: Materials
Wolmanized Lumber
Concrete slab
Vegetation
Timber
Rubber tiles
Sprinturf
ULI Competition Proposal: The Ascend
November 2016
Design
The design begins by mimicking the downtown grid, but at an angle to improve views from the site. The landscaping continues the park system through our site. Then, the greenspace gradually rises to inhabit the buildings’ rooftops to elevate the landscape.
ULI Competition Proposal: The Ascend
Design: Walkability & Accessibility
November 2016
ULI Competition Proposal: The Ascend
November 2016
Design
By positioning parking on the first few floors, we were able to elevate the main functions of the building out of the floodplain. Gradually rising the height of the massing allowed us to provide more units with better views and visually continue the park space.
ULI Competition Proposal: The Ascend
November 2016
Design
The main functions of the exterior space include a fitness lawn, skate park, boardwalk, garden space, a children’s playground, bike paths, a dog park, and other greenspace. In red, the main parking and pedestrian entries for each building are called out.
ULI Competition Proposal: The Ascend
Design
November 2016
ULI Competition Proposal: The Ascend
Concept: Health & Sustainability
November 2016
ULI Competition Proposal: The Ascend
Building Plans Mixed-Use Restaurant: 396 Retail: 194 Gym: 260 ---Hotel: 103 Office: 87 1038 Parking spaces are needed Residential 328 Parking spaces are needed West Building 2 floors parking: 368 Parking spaces Central Building: 3 floors parking: 837 Parking spaces East Building: Residential 2 floors parking: 161 Parking spaces PARKING
RESIDENTIAL
Total of 1366 Parking spaces HOTEL
OFFICE PARKING
RESTAURANT
RESIDENTIAL
FITNESS CENTER
HOTEL
RETAIL
OFFICE
TERRACE
RESTAURANT
November 2016
ULI Competition Proposal: The Ascend
Building Plans West Building: Mixed-Use Restaurant, Retail, Gym, Hotel (103 keys), Office 7 floors total (2 floors parking) Central Building: Residential 168 units (2 penthouse) 9 floors total (3 floors parking) East Building: Residential 35 units 6 floors total (2PARKING floors parking) RESIDENTIAL HOTEL OFFICE PARKING
RESTAURANT
RESIDENTIAL
FITNESS CENTER
HOTEL
RETAIL
OFFICE
TERRACE
RESTAURANT
November 2016
ULI Competition Proposal: The Ascend
November 2016
Building Sections
N
ULI Competition Proposal: The Ascend
November 2016
Building Elevations: Materials A
D
B
E
F
H C
G
I
L
J
K
N
ULI Competition Proposal: The Ascend
November 2016
ULI Competition Proposal: The Ascend
November 2016
ULI Competition Proposal: The Ascend
November 2016
ULI Competition Proposal: The Ascend
Market Analysis Market Feasibility - Average income within the 1 mile radius is 68,000 and inside 3 miles 53,000 - Over 80,000 employees in the 1 mile large commuter presence - Surrounading developments (street cars) show promise to bring more People closer to the site Use Vacancy - Multifamily: Market occupancy rate would vary between 94-96% throughout 2016 - Hotel: Occupancy rate remains steady at 60% - Office: Class A vacancy rate remains around at 15%. - Retail: 8.1% Vacancy around the city Use Development - Multifamily: 6000 new units planned over 3 years - Hotel: 900 rooms added in the last 5 years - Office: 950,000 SF Development scheduled for 2016 - Retail: 29 Retail and Restaurants fronts opened in 2015 within 3 miles
November 2016
ULI Competition Proposal: The Ascend
Development Plan Two Phases starting with residential and finishing with office. Use of TIF funding: TIF District 2 Downtown South/ River Front Final Phase comes online January 2019
Development Team – Carter Construction Management – Turner Construction November 2016 Architect / Site Planning - GBBN Architects
Development Schedule Schedule Item Development Team Identified Planning Land Acquisition Approved for TIF Funding Lending Approved Phase 1 Residential & Garage Begin Preleasing Residential Permanent Financing Phase 2 Hotel and Commercial Residential & Garage Online Begin Preleasing Commercial Hotel and Commercial Online Rents Stabilize
Month Start Duration End Nov-16 2 Dec-16 Dec-16 1 Dec-16 Jan-17 1 Jan-17 Feb-17 1 Mar-17 Mar-17 1 Mar-17 Apr-17 12 Mar-18 Jul-17 5 Nov-17 Dec-17 1 Dec-17 Jan-18 12 Dec-18 Jan-18 1 Jan-18 Mar-18 8 Oct-18 Jan-19 1 Jan-19 Jan-22 1 Jan-22
ULI Competition Proposal: The Ascend
Development Costs
November 2016
ULI Competition Proposal: The Ascend
Development Funding
November 2016
ULI Competition Proposal: The Ascend
Income-Residential + Hotel + Parking
November 2016
ULI Competition Proposal: The Ascend
Income-Commercial
November 2016
ULI Competition Proposal: The Ascend
Operating Expenses and Reserves
November 2016
ULI Competition Proposal: The Ascend
Returns
November 2016
Thank you