mixed use that has transformed a city: morrison
DESCRIPTION
Clay grubb, Mixed use that has transformed a city: MorrisonTRANSCRIPT
MIXED USE THAT HAS MIXED USE THAT HAS TRANSFORMED A CITY: MORRISON
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COMPANY HISTORY
In 1909 Clay Grubb, great‐grandfather of current generation, developed
f th fi t t l d t hi h i i N th C li ( )one of the first steel and concrete high‐rises in North Carolina (pictured)
Established 49 Year Company History (since 1963)
Vertically Integrated Real Estate Companyy g p yAcquisitions, Property / Asset Management, Brokerage, Development, Construction
Southeast Footprint – Properties in NC, SC, GA, TN, FL, MS, and VA
Strong Lender Relationships and Track RecordRelationships with over 25 different lenders
Proven Co‐Investment Partner with Institutional InvestorsRelationships with over 35 different institutions
Strong & Disciplined Transaction History
Successful, Unblemished Multifamily & Office Acquisition Performance over 2 decades The Plaza Building – Salisbury, NC
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Developed several of North Carolina’s Landmarks Completed in 1909 by Henry Clay Grubb
MIXED USE EXPERIENCEElizabeth Avenue 1523 Elizabeth Avenue Latta Pavilion
Ratcliffe Glen Lennox
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ABOUT MORRISON
Located in Southpark Neighborhood of CharlotteLocated in Southpark Neighborhood of Charlotte
Previously 2 apartment communities and cemetery
Built in 2004‐2008
13 of 26 acres developed13 of 26 acres developed
Includes 119 Condominiums, 214 Apartments, and 140,000 square feet of Retail
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RETAIL STRATEGY
Lease and build anchor tenants first
Location of anchors is crucial
Diversify tenants
Earthfare
Barnes &Noble
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PARKING
Shared parking to reduce total spaces neededneeded
Balance of deck and surface parking
Regulated on‐street parking in front of retail
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NEIGHBORHOOD INVOLVEMENT
Embraced neighborhood early in entitlement processentitlement process
Involved community groups, like NWS, in construction period
M lti l t t b i i hb h dMultiple events to bring neighborhood together
Connected residential and retail tenants through Club Morrison program
A Taste for Fashion Fitness Challenge
through Club Morrison program
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NWS Art Event
COMMUNITY ASSETS
2.2 acres of land donated to Grubb Preservation Foundation, containing Historic African American Cemetery dating back to late 1860’sy g
Deed restricted the entire site so that any resell resulted in a contribution of ¼ of 1% of the sales price to the Grubb Preservation Foundation
Site will be park space and a historic landmark attraction
Jogging trail throughout property
Paved portion of trail
(Above) St. Lloyds Presbyterian Cemetery site marked off for clean‐up
(Right) Historic fieldstone grave marker
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(Left) Donated land approximately outlined in red
BUILDING MASS
Located buildings with lower heights close to street to create a human scale pedestrian realm
Reached density goals by locating taller buildings in back of site88
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12
2 26
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2 2
# = Number of stories
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DESIGN QUALITY
Quality design and building materials last
Master declaration in place to maintain consistent well‐designed community
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NEXT PHASE – SIGNATURE RESIDENCES
Legacy architecture created by nationally recognized architect, Robert A. Stern
Luxury homes with custom interior design
Private and community‐wide outdoor spaces
C i iti i l di iConcierge amenities, including primary care health services from Signature Healthcare
Walk‐able urban community supporting a sustainable lifestyle
A b h k t d d f h i t f i lA new benchmark standard of housing, transforming luxury living in Charlotte
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CONCLUSION
THE MORRISON COMMUNITY l d lTract 1 – Completed Development
• Morrison Retail Shops and Restaurants • 721 Morrison Apartment Homes• Morrison Condominium Homes• The Lofts at Morrison Condominium Homes
T t 2Tract 2 • Specialty Medical Office or Phase II Apartments• Structured Parking
Tract 3 • Signature Residences• Signature Healthcare
Preservation Area 1
• Signature Healthcare• Signature Wellness Center• Structured Parking
Tract 4• Hotel & Restaurant
Preservation Area1 • Grubb Preservation Foundation – 2.2 acre land preserve
Preservation Area 2• Future Preservation Area – 1.5 acre land preserve TRACT 4
Preservation Area 2
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Clay Grubb • [email protected] • 704.405.5146