Housing Opportunity 2014 - Shared Spaces, Shared Benefits

© 2014 The Nonprofit Centers Network www.nonprofitcenters.org

Shared Spaces Shared Benefits

ULI Housing Opportunity 2014: Healthy Housing, Healthy Places

May 16, 2014

© 2014 The Nonprofit Centers Network www.nonprofitcenters.org 2

Speakers

• Lara Jakubowski (Moderator)Capacity Building Manager, Nonprofit Centers Network

• Aaron MiripolPresident & CEO, Urban Land Conservancy

• Bill MagueVice President, Asset Management, Artspace Projects


Introductions

• Name, organization, location• What do you want to walk out of here

knowing more about?


Who We AreNonprofit Centers Network: The premiere learning community

for shared nonprofit space and services in North America.www.nonprofitcenters.org


About the Nonprofit Centers NetworkMission:

To increase the capacity & effectiveness of the nonprofit sector by supporting the development of multi-tenant nonprofit centers and other quality nonprofit workspace.

• 170 members in the U.S. and Canada, 350 overall• $195+ million in annual revenues• 4,200+ tenant organizations• 36,600+ staff in shared spaces


Anything can be shared


About Nonprofit Centers

• Service Centers• Theme Centers• Multi-Sector Centers

Multi-sector Centers

34%

Service Centers32%

Theme Centers34%


Who Develops Nonprofit Centers?

Measuring Collaborations: The Benefits and Impacts of Nonprofit Centers, The Nonprofit Centers Network, 2011


Benefits and Impacts by Center TypeSub-types Center Benefits &

Impacts

Multi-Sector Centers

Strong market communitiesRent savingsQuality spaceLocation

Weak market communitiesQuality spaceCommunity spacesCommunity infrastructure

Theme Centers

ArtsEnvironmentalFaith-based

Specialized spaces and amenitiesWork synergies

Incubators Organizational capacityNetworking

Services CentersGeneralSpecialized: Youth, seniors, people with disabilities

Improved service deliveryCommunity infrastructure


Mission Informed Business Models

Provide free rent for spaces

Subsidize rent for spaces

Charge to cover expenses

Charge market rates rents

Break-even

Revenue Spectrum

Mission-related Profitability


NCN’s Resources Work – Join Us!Organizations who access NCN resources had a significant increase in:• Organizational efficiency and effectiveness• Collaboration• Governance• Financial sustainability• Cost savings• Operations• Project planning

Those who use NCN’s resources are 25% more likely to achieve costs saving outcomes than their peers who did not.


Online Resources


Contact Information

Lara JakubowskiCapacity Building ManagerNonprofit Centers Network1536 Wynkoop Street, Denver [email protected]

Shared Spaces Shared Benefits

Urban Land Conservancy (ULC)

501(c)(3) nonprofit, supporting organization to the Denver Community Foundation.

Mission: To acquire, develop, and strengthen neighborhoods through preservation of key areas of influence to ensure their continued public benefit in Metro Denver

Invested over $40 million in 19 real estate assets, including schools, affordable housing and Nonprofit Shared Space. Leverages over $200M, serving over 10,000 low and moderate income people

700 full and part-time jobs are supported by ULC real estate investments

Acquire strategic sites in anticipation of market changes through land banking along transit corridors

Uses a 99 year land lease with partners to ensure permanent stewardship of the improvements.

ULC Investments

Purchased seven years ago, this former vacant building, the Tramway Nonprofit Center, occupies a full city block and currently houses 15 nonprofits. DOSP and ULC first came together on the renovations of the property in 2008. ULC also has first right on Wyatt Charter school, an 1880s historic building across the street that serves 600 children.

Urban Land Conservancy’s Tramway Nonprofit Center &

Wyatt Academy Charter School

Learning about Shared Space through Real Estate Acquisitions

Currently under development, ULC served as the master developer, partnering with the City of Denver and Del Norte Housing (nonprofit developer) to build:• New Westside Public Library (27K sq. ft.) • Residential mixed use: 80 units of workforce housing +

10k sq. ft. of community space • Commercial building CLT: 20k sq. ft. along Colfax Av

Total acquisition, brown field remediation and infrastructure : $5.25M = $52 sq. ft.

Development Costs:• Library: $12 million• Mixed Use/Shared Space: $17M• Commercial: $3.5 million• Total: $32.5 million

Jobs Created: • 125 temporary (construction)• 65 permanent• Total Cost: $37.75M

Housing Developed by Del Norte

Denver Public Library

Shared Space Opportunities at Mile High Vista Up to 25k sq.ft. of Nonprofit Shared Space

Holly Square: Shared Space though Equitable Redevelopment

• In 2009 ULC purchased and completed the demolition of this fire bombed former shopping center on 2.6 acres

• With support of The Denver Foundation’s Strengthening Neighborhoods Program, residents and stake holders of northeast Park Hill coalesced into a community-wide group called the Holly Area Redevelopment Project (HARP), to determine how best the site should be redeveloped equitably.

• Equitable redevelopment came with the completion of the new Boys & Girls Club Center, under a 99 year ground lease with ULC

• Tenants in the nonprofit shared space at the Boys & Girls Club are: Impact Empowerment Group, Mi Casa and HARP

Shared Space for Preschools and Nonprofits

Purchased in January 2012 in partnership with the City, this vacant community center in the middle of Curtis Park was renovated to create the new Family Star Montessori School (above). The long term plan is for ULC to sell the improvements back to the school and continue to be the steward of the land for the next 198 years

ULC also renovated the adjacent historic administrative building to create the Curtis Park Nonprofit Center that houses the administration of Family Star as well as 6 other nonprofits. (right)

Acquisition: $640K = $36sq.ft. Renovation: $1.1M= $61 sq. ft. Total: $1.75M = $97 sq. ft.

Denver Shared Space Project

Nationally recognized, public-private partnership

that promotes best practices in the creation and operation of shared space centers in Denver.

Create or grow five multi-tenant nonprofit centers

Offer targeted resources and information

Streamline City and community resources

Create a formal network of centers

Affordability

Stability

Intentional Collaboration

Environmental Sustainability

Impact of Shared Space

Have It In Place Give It Some Thought• Champions in all sectors• Diversity of expertise• Enjoy work together• Bold vision

• Asset/need mapping• Articulate varied benefits• Capitalize on growth • Funding options

Evolution of Shared Space

Example of TOD Shared Space:Evans Station Lofts

• ULC’s first full cycle TOD joint development, where we purchased the land for $1M =($23 sq. ft.) and held it until our development partner received their Tax Credits

• 50 affordable apartments

• 8,000 sq.ft. of commercial space, housing 2 nonprofits – Kim Robards Dance Troupe (right), a Cop Shop, and a third entity TBD.

Thank you!

www.denversharedspaces.org

Aaron MiripolUrban Land Conservancy

[email protected]


Questions?

Housing Opportunity 2014 - Shared Spaces, Shared Benefits

Real Estate

Transcript of Housing Opportunity 2014 - Shared Spaces, Shared Benefits