jonathan’thorpe,’senior’execu3ve’vice’president ... · office space 40 m sf residential...

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Songdo Interna,onal Business District – Future City Version 1.0 Jonathan Thorpe, Senior Execu3ve Vice President, Gale Interna3onal June 30, 2011

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Page 1: Jonathan’Thorpe,’Senior’Execu3ve’Vice’President ... · Office Space 40 M SF Residential 35 M SF Retail 10 M SF Hotel 5 M SF Civic Space 10 M SF MASTERPLAN& • $35’B,’100’MSF’development

Songdo  Interna,onal  Business  District  –  Future  City  Version  1.0  Jonathan  Thorpe,  Senior  Execu3ve  Vice  President,  Gale  Interna3onal  

June  30,  2011  

Page 2: Jonathan’Thorpe,’Senior’Execu3ve’Vice’President ... · Office Space 40 M SF Residential 35 M SF Retail 10 M SF Hotel 5 M SF Civic Space 10 M SF MASTERPLAN& • $35’B,’100’MSF’development

Imagine  a  city…  

Page 3: Jonathan’Thorpe,’Senior’Execu3ve’Vice’President ... · Office Space 40 M SF Residential 35 M SF Retail 10 M SF Hotel 5 M SF Civic Space 10 M SF MASTERPLAN& • $35’B,’100’MSF’development

The  vision  is  being  realized…  

Page 4: Jonathan’Thorpe,’Senior’Execu3ve’Vice’President ... · Office Space 40 M SF Residential 35 M SF Retail 10 M SF Hotel 5 M SF Civic Space 10 M SF MASTERPLAN& • $35’B,’100’MSF’development

Hub  of  Northeast  Asia  –  Flight  Times  

Page 5: Jonathan’Thorpe,’Senior’Execu3ve’Vice’President ... · Office Space 40 M SF Residential 35 M SF Retail 10 M SF Hotel 5 M SF Civic Space 10 M SF MASTERPLAN& • $35’B,’100’MSF’development

Strategic  Access  to  Bridges  &  Roads  Strategic  Loca,on  –  ICN  &  Seoul  Area  

Page 6: Jonathan’Thorpe,’Senior’Execu3ve’Vice’President ... · Office Space 40 M SF Residential 35 M SF Retail 10 M SF Hotel 5 M SF Civic Space 10 M SF MASTERPLAN& • $35’B,’100’MSF’development

Office Space 40 M SF

Residential 35 M SF

Retail 10 M SF

Hotel 5 M SF

Civic Space 10 M SF

MASTER  PLAN  

•  $35  B,  100  M  SF  development  

•  World-­‐class  interna3onal  city  

•  1,500  acres;  reclaimed  waterfront  

•  40%  open  space  including      a  100-­‐acre  “Central  Park”  

•  LEED-­‐ND  pilot  program;  LEED  cer3fica3on  for  individual  buildings  

•  Approximately  40%  completed  or  construc3on  underway  

Office  Space   40  M  SF      

Residen3al     35  M  SF      

Retail   10  M  SF      

Hotel/Leisure   5  M  SF      

Civic/Other   10  M  SF      

Page 7: Jonathan’Thorpe,’Senior’Execu3ve’Vice’President ... · Office Space 40 M SF Residential 35 M SF Retail 10 M SF Hotel 5 M SF Civic Space 10 M SF MASTERPLAN& • $35’B,’100’MSF’development

Songdo  IBD  Land  2004  

Page 8: Jonathan’Thorpe,’Senior’Execu3ve’Vice’President ... · Office Space 40 M SF Residential 35 M SF Retail 10 M SF Hotel 5 M SF Civic Space 10 M SF MASTERPLAN& • $35’B,’100’MSF’development

Songdo  IBD  Today  

•  25,000  jobs  created  

•  USD  $12  billion  invested  

•  18,000  residents  

•  37  million  SF  (approximately      40%)    completed  or  under  construc3on  

Songdo  IBD  Today  

Page 9: Jonathan’Thorpe,’Senior’Execu3ve’Vice’President ... · Office Space 40 M SF Residential 35 M SF Retail 10 M SF Hotel 5 M SF Civic Space 10 M SF MASTERPLAN& • $35’B,’100’MSF’development

•  “Loca3on,  Loca3on,  Loca3on”  –  we  are  crea%ng  the  loca3on  

•  Developer  creates                      quality  of  life  

•  Government  develops      infrastructure  and  regulatory  benefits  

•  Proper  loca3on,  design  and  regulatory  environment  create  real  value  

•  Importance  of  sustainable  design  –  a  3pping  point  for  social  and  economic  value  

Educa,on  

Retail  

Residen,al  

Entertainment  

Culture  

Commerce  

City  of  Synergy:    Master  Plan  

Page 10: Jonathan’Thorpe,’Senior’Execu3ve’Vice’President ... · Office Space 40 M SF Residential 35 M SF Retail 10 M SF Hotel 5 M SF Civic Space 10 M SF MASTERPLAN& • $35’B,’100’MSF’development

Users  &  Occupiers  Commercial  &  Residen3al  

Consultants  A/E  &  Other  Service  

Providers  

Local  Government  Incheon  City/IFEZA  

Korean  Central  Government  

Developer  NSIC  -­‐  Gale  Intl.  plus  Posco  E&C  

Financial  Investors  Debt  &  Equity  

“It  Takes  A  Village”  To  Build  A  City  

Page 11: Jonathan’Thorpe,’Senior’Execu3ve’Vice’President ... · Office Space 40 M SF Residential 35 M SF Retail 10 M SF Hotel 5 M SF Civic Space 10 M SF MASTERPLAN& • $35’B,’100’MSF’development

A  unique  public/private  sector  development,  Songdo  IBD  enjoys  the  sponsorship  and  founda3onal  funding  from  the  municipal  government  and  the  entrepreneurial  growth  opportunity  delivered  by  engaged  and  mo3vated  private  sector  partners.    

The  leading  experts  in  design,  engineering,  construc3on  and  finance  have  joined  forces  to  create  a  city-­‐scale  development  that  delivers  on  its  promise  of  an  unparalleled  quality  of  life.      

Global  Partners  Songdo  IBD  Global  Partners  

Page 12: Jonathan’Thorpe,’Senior’Execu3ve’Vice’President ... · Office Space 40 M SF Residential 35 M SF Retail 10 M SF Hotel 5 M SF Civic Space 10 M SF MASTERPLAN& • $35’B,’100’MSF’development

•  Songdo  IBD  is  part  of  the  LEED-­‐ND  (Neighborhood  Development)  Pilot  Program  

•  The  LEED-­‐ND  program  emphasizes  neighborhood  connec3vity,  access  to  transit,  energy  efficiency  in  building  design,  efficient  infrastructure  design  and  the  provision  of  open  space  and  habitat  for  residents  of  all  kinds  

•  Goal  for  all  residen3al  and  commercial  buildings  developed  by  NSIC  to  be  LEED-­‐cer3fed    

•  Reduce  opera3ng  and  maintenance  costs  

•  Increase  worker  produc3vity  and  improve  quality  of  life  for  residents  and  workers  

•  Enhance  brand  image  and  increase  value  

Open  Space                                                                    Water  Usage  

Energy  Consump,on                                    Recycling  

Sustainable  Development  

 Transporta,on                                                        Opera,ons  

LEED  Areas  of  Focus  

Page 13: Jonathan’Thorpe,’Senior’Execu3ve’Vice’President ... · Office Space 40 M SF Residential 35 M SF Retail 10 M SF Hotel 5 M SF Civic Space 10 M SF MASTERPLAN& • $35’B,’100’MSF’development

Korean  Government  Commitments  

•  Crea3on  (reclama3on)  of  land;  enactment    of  zoning  and  master  plan  approvals  

•  Free  Economic  Zone  (FEZ),  with  regulatory  benefits  and  economic/  development  inducements  available  

•  Tax  benefits  for  foreign-­‐invested  companies  

•  USD  $10B  in  infrastructure  including  Incheon  Interna3onal  Airport  (ICN)  

•  Incheon  Airport  Bridge  

•  Regional  highway  improvements  

•  Subway  connec3on  into  metropolitan  Incheon  and  Seoul  subway  systems  

•  U3li3es,  including  “green”  compliant  water  and  sewer  systems,  advanced  ICT  

Page 14: Jonathan’Thorpe,’Senior’Execu3ve’Vice’President ... · Office Space 40 M SF Residential 35 M SF Retail 10 M SF Hotel 5 M SF Civic Space 10 M SF MASTERPLAN& • $35’B,’100’MSF’development

   INNOVATION  &  SUSTAINABLE  DESIGN  STRATEGIES  

         PUBLIC-­‐PRIVATE  PARTNERSHIPS  

             SUCCESS  OR  FAILURE  TO  MEET  EXPECTATIONS  

                           ECONOMIC  OUTLOOK  

                     EXECUTION  –  THE  “SOUL”  OF  SONGDO  IBD  

Lessons  Learned  –  Future  Challenges  

Page 15: Jonathan’Thorpe,’Senior’Execu3ve’Vice’President ... · Office Space 40 M SF Residential 35 M SF Retail 10 M SF Hotel 5 M SF Civic Space 10 M SF MASTERPLAN& • $35’B,’100’MSF’development

Thanks,  and  we  hope  to  see  you  soon  in  Songdo…