czb notes for boulder housing partners · 2019-05-28 · - an on-going revenue stream should be...
TRANSCRIPT
![Page 1: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/1.jpg)
Holiday Neighborhood
![Page 2: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/2.jpg)
Holiday
![Page 3: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/3.jpg)
Holiday
![Page 4: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/4.jpg)
Site Background
•27 acres of land
•2 acre park area
•Pedestrian walkway
•Community Gardens
•Live/Work and Artist's Studios
•Small neighborhood businesses
![Page 5: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/5.jpg)
Holiday Drive In Theater: early 90’s after screens removed
![Page 6: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/6.jpg)
Finance
- At a minimum, the project should break even during the development phase
- The goal is to have a surplus at the end of project development that could be used for future development projects
- An on-going revenue stream should be provided to the Housing Authority from the rental units
- The financial objectives of the project will be balanced with overall goals and design
- If office space is developed for the Housing Authority, there will be no net on-going cost to the Authority
Holiday Neighborhood Original Guiding Principles: 1997
Design
- Design to create compatible diversity and variety
- The development should not be identifiable as one project
- Approach as a series of small projects or villages
- For the apartment units, build in blocks of four to six units
- Create a feeling of coherent community
- Emphasize high quality design and construction; build for a useful
life of 100 years
- Incorporate rich and durable materials, such as brick and stone,
particularly into the commercial element
- Use the best of the neo-traditional design approach to function,
including;
- Grid streets
- Human scale architecture
- Public space
- Mixed use, to include office and artists
workshops and housing type
- Front porches
- Alleys
- Address the relationship to the edges and adjacent uses to
ensure neighborhood compatibility
- Provide a viable transportation network, which provides bike
and pedestrian connections
- Design to promote community in a way that balances
interaction and privacy
- Include a review of design techniques, such as inner courtyards
- Emphasis sound proofing and other ways to provide peace and
privacy
- As part of the design approach, establish maximum FARs or
square footage limits
![Page 7: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/7.jpg)
Timeline
Drive-In Operated 1969-89
City annexes property 1990
City acquired Drive-In 1997
City transferred land to BHP 1997
Site Plan Approval 2001
Final Approval 2002
Broke Ground 2003
Buildout complete 2007
![Page 8: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/8.jpg)
Public Process
• Guidelines - Adopted in October 1997
• Focused on four areas • Design
• Finance
• Population and Market
• Possible Partners
![Page 9: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/9.jpg)
Financed in Three Phases
1. land acquisition
2. Infrastructure development
3. rental housing
![Page 10: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/10.jpg)
Land acquisition
1. CHAP Grant - $1 million
2. City purchase and reserves used as backing for short term bank loan
3. CDBG – backed long term loan –flexible terms (Section 108 loan)
![Page 11: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/11.jpg)
Infrastructure
1. financed through bank loan
2. paid off through developer purchase of lots
![Page 12: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/12.jpg)
Rental housing -scattered
• Low Income Housing Tax Credits
• Local and State grants
• Bank loan
• 10 units financed with McKinney-Vento Act funds for individuals transitioning from homelessness
![Page 13: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/13.jpg)
Holiday numbers
• Total housing units – 333
• 41% affordable
• 82 affordable for rent
• 56 affordable for sale
• 60,000 square feet of retail/commercial
![Page 14: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/14.jpg)
Development Plan
![Page 15: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/15.jpg)
Main Street North
![Page 16: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/16.jpg)
Yellowpine
![Page 17: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/17.jpg)
Carriage Units
![Page 18: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/18.jpg)
Studio Mews
![Page 19: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/19.jpg)
Crescent
![Page 20: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/20.jpg)
Wild Sage
![Page 21: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/21.jpg)
Community Gardens
![Page 22: Czb Notes for Boulder Housing Partners · 2019-05-28 · - An on-going revenue stream should be provided to the Housing Authority from the rental units - The financial objectives](https://reader033.vdocuments.net/reader033/viewer/2022060311/5f0ac3747e708231d42d38fd/html5/thumbnails/22.jpg)
Lessons learned
1. Local funding was key in taking the first step to acquire the land
2. City funding helped ensure City goals were met
3. Breaking down a big project into phases helped focus the efforts on a step at a time
4. No one source of funding was enough
5. Having a public sector developer helped ensure that public benefit was always the top goal