land use summary leveraged irr total development costs … · 2020. 7. 9. · industrial use /...

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R E C O N N E C T E D C DARS R VITALIZ ED Dallas Incorporated 1856 Current Day Old City Park Added to Cedars Neighborhood 1879 DART Created1983 (DTS) Transit System 1964 - 1988 First Expansion M-Line 2002 ForwardDallas! Comprehensive Plan 2006 Woodall Rodgers Park 2010 Dart Expansion 2013 Marriott Hotel Convention Center 2015 PHASE I PHASE II Dallas Convention Center Hotel 2010 Cedars West Study 2006 Mockingbird Station 2001 Cedars TIF District Plan 1992 - 1993 Project Pegasus 2010 Woodall Ridgers Park Plan 2005 Completion 2010 Cedars Area Plan 2002 Cedars DART 1996 Dallas Founded1841 McKinney Line1989 Sears converted to residential lofts 2000 Police Headquarters 2003 The Buzz 2007 The Beat 2009 Calatrava Bridge 2009 Pegasus Project Completion 2017 Cedars M-Line Extension 2010 Pegasus Project and Phase I - 2003 PHASE III Trinity River Corridor Summit and Study 1996 - 1998 Trinity River Corridor Project 2013 City Hall 1977 South Side PID 2006 Convention Center Expanded 1994 1990 1840 1915 1890 1865 1940 1965 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 20 Police Headquarters Cockrell Street Office Buildings and Pedestrian Connection Cedars Station Plaza: Gathering and Exhibition Space Internet Cafe, Pool Cedar Street Pedestrian Connection, Retail, Residential, Live Work Ackard Downtown View CEDARS reet DART crossing Adaptive Reuse- Cultural Center, Museum, Gallery, Music, Art,... Exterior Plaza Extension_Connection to DART Station and Neighborhood Artist Mural, Music, Outdoor Sculpture PLAN 1:50 Every Day Plaza The Cedars neighborhood is digging its roots into the escarpment of Dallas, on the edge of the Canyon and is on the verge of entering a new chapter of its history. Large era-defining initiatives of grand scale and creativity will breathe new life into the Cedars and revive the worn out urban fabric. The existing DART station, the M-Line streetcar extension, and a green network of parks and trails adjacent to the Trinity River are the new threads that tie the Cedars back into Dallas and will restore an identity and character to the neighborhood. The development site is the hub in the heart of the neighborhood creating a community with active street life and shared public space. A diverse mix of families, artists, and professionals will form the core of the neighborhood already taking root and will grow the Cedars to ever-greater heights. DART light rail DART bus line bicycle pedestrian Block Structure Dallas Grows - Cedars Neighborhood Grows 1920’s Cedars Neighborhood Declined Industrial Use / Infrastructure Growth Cedars Revitalization Begins Open Space Phase 1 2010 - 2012 Phase 2 2013 - 2015 Phase 3 2016 - 2019 Total Buildout Total Costs Financing Structure Equity Capital Account Summary Leveraged IRR 22.90% Total Development Costs $268,624,000 Maximum Cash Impairment: $179,899,467 Net Sales Revenue of Income Property Sales (2019) $464,164,600 Cumulative Equity Capital Account $132,117,806 Housing Units: 300 - Market-Rate 30 - Affordable 30 - Low-Income Retail - 60,000 s.f. Office - 0 s.f. Parking - 1,348 spaces Housing Units: 187 - Market-Rate 23 - Affordable 23 - Low-Income Retail - 92,000 s.f. Office - 108,000 s.f. Parking - 768 spaces Housing Units: 116 - Market-Rate 15 - Affordable 15 - Low-Income Retail - 33,400 s.f. Office - 347,000 s.f. Parking - 324 spaces FINANCIALS District Connections DIAGRAMS T T CHILDREN’S MEDICAL CTR. PARKLAND HOSPITAL McKINNEY INDUSTRIAL CiTY PLACE P M M M M Transportation Infrastructure/Transit Parti Diagram Green Necklace Section 1:20 Land Use Plaza Entrance DART LIGHTRAIL AKARD BELLEVIEW Turtle Creek Oak Cliff Fair Park Downtown CEDARS Economic Development district Up Town M-line DART Residential Retail Office Total Buildout 57% 12% 31%

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