VANCOUVER CITY COUNCIL WORKSHOP

WEST VANCOUVER BARRACKS

July 14, 2014

PRESENTATION OVERVIEW

Review West Barracks background

Provide status update including completed

redevelopment work and current uses

Present conceptual reuse options for Phase 2

Policy considerations

SITE MAP

WEST BARRACKS BACKGROUND

Cooperative Management Plan

City Ownership

2002 Reuse Plan

Reuse Plan Assumptions

Arts District

COOPERATIVE MANAGEMENT PLAN GOALS

Preservation – of historic structures, physical

assets, and cultural landscapes.

Education – and interpretation of the

significance and history of the area for public

benefit.

Public Use – and accessibility to the Historic

Reserve.

WEST BARRACKS REUSE PLAN

The preferred use scenario envisions a mixed-

use campus featuring interrelated programs of

education, arts and hospitality – with

supplemental work/live space.

70% space designed for mixed use combining

education, arts community and hospitality

functions.

30% for office and residential uses.

REUSE PLAN ASSUMPTIONS

Rehabilitation Cost Estimates

$24.5-$29.2 million

Funding Assumptions

50% Federal government funding

15% City of Vancouver (infrastructure)

35% Reserve Trust

Cooperative Management Plan Goals

Preservation, Education, Public Use

VANCOUVER ARTS DISTRICT

CITY / TRUST PROPERTY LEASE

Master Lease Structure

City Approvals

Properties Committee

City and Trust representation

“Provide guidance to the development and

management of the Premise”

Development, redevelopment, and use shall

conform to the principals set forth in various

agreements, documents….

TOTAL GROSS REVENUE

$0

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

2006 2007 2008 2009 2010 2011 2012 2013

NET OPERATING INCOME

$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000

$900,000

$1,000,000

2006 2007 2008 2009 2010 2011 2012 2013

FINANCIAL REINVESTMENT

Net Income

60%

Capital Fund

40%

Property Development Fund

CURRENT OPERATING STATUS

2013 Operating Performance

Occupancy Statistics

Residential - 0% Vacancy

Commercial – 2.67% Vacancy

No Deferred Maintenance

Capital Facilities Plan and Funding Program

OFFICERS ROW/WEST BARRACKS COMBINED

2013 Gross Revenue Statistics

Officers Row – $1,756,915

West Barracks - $477,143

Special Events

400+ individual bookings annually

Over 30,000 annual attendance.

Primary Uses:

35% are Weddings/Receptions

25% Organization Meetings

WEST BARRACKS ACCOMPLISHMENTS

Infrastructure Improvements

Residential - 100% Occupied

Red Cross Bldg Renovated & Occupied

Mess Hall Renovated & Occupied

Partial Renovation of the Artillery Barracks

Event Facility Activity

ARTS & HOSPITALITY EFFORTS

ARTillery Barracks Concept

Hospitality Development Attempts

Hostel Concept Feasibility

Performing Arts Center

Prospective Tenant Interest

WEST VANCOUVER BARRACKS- PHASE 2

ARTILLERY BARRACKS

ARTILLERY BARRACKS

ARTILLERY BARRACKS

INFANTRY BARRACKS

INFANTRY BARRACKS

DENTAL SURGERY BUILDING

DENTAL SURGERY BUILDING

QUARTERMASTER STOREHOUSE

QUARTERMASTER STOREHOUSE

PHASE 2- PROJECT SUMMARY

Total Project Estimate - ~$6 million

4 buildings

32,000 square feet

Potential Uses: Residential, Commercial, Retail

and Arts

POST HOSPITAL – FUTURE PHASE

POST HOSPITAL

POST HOSPITAL CONSIDERATIONS

Potential Art Center

~$11 million project

Hazardous materials removal

Seismic challenges

Proximity to I-5

NEXT WORKSHOP

Update WB Financial Analysis

Review Changes in Reuse Assumptions

Present financial Pro Forma and Sustainability

Models

Review Funding Options

COUNCIL POLICY CONSIDERATIONS

Importance of a robust public component (art,

education) vs. fiscal sustainability

Would it be acceptable to phase-in an

arts/education/hospitality component

QUESTIONS AND DISCUSSION

Mike True

Fort Vancouver National Trust

(360) 992-1805

mike.true@fortvan.org

Jeanette (Jan) Bader

City of Vancouver

(360) 487-8606

jan.bader@cityofvancouver.us

VANCOUVER CITY COUNCIL WORKSHOP

Properties Committee

Thank you!