RV 2014: Urban Circulator Roundtable: Shaping Cities one Challenge at a Time by Lisa Gordon
RV 2014: Developers Roundtable presentation by George Sherman
-
Upload
railvolution -
Category
Real Estate
-
view
120 -
download
0
description
Transcript of RV 2014: Developers Roundtable presentation by George Sherman
![Page 1: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/1.jpg)
Riverside Plaza Renewing an Iconic Urban American Community George Sherman
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 2: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/2.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 3: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/3.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 4: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/4.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 5: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/5.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 6: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/6.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 7: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/7.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 8: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/8.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 9: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/9.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 10: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/10.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
Riverside Plaza Resident Resource Center
Plaza Halal Foods
Cedar Riverside Community School
![Page 11: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/11.jpg)
Oct 2012
Jan 2011
National Register
Dec 2010
2004 Cedar Square West
1970 1980 1990 2000 2010 2020
1987
1973
2010
1988
11
![Page 12: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/12.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 13: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/13.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 14: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/14.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 15: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/15.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 16: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/16.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 17: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/17.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
Old Colors
New Colors
![Page 18: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/18.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 19: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/19.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 20: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/20.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 21: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/21.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
$140M
$120M
$100M
$80M
$60M
$40M
$20M
$0M
Developer Fee Reserves Reloca.on Other General Development/ Financing Fees Construc.on Interest Architectural/Engineering/ Legal Fees
Construc.on + Construc.on Con.ngency
Acquisi'on Cost $41 Mil
Sources Uses
![Page 22: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/22.jpg)
Deferred Developer Fee Cash Flow from Ops Rebates Seller Note GMHC Loan Met Council CPED FHF Loan MHFA -‐ EHDC Loan MHFA -‐ PARIF Loan
4% LIHTC Equity Tax-‐Exempt Bonds
$140M
$120M
$100M
$80M
$60M
$40M
$20M
$0M
Developer Fee Reserves Reloca.on Other General Development/ Financing Fees Construc.on Interest Architectural/Engineering/ Legal Fees
Construc.on + Construc.on Con.ngency
Acquisi'on Cost
State HTC Loan Federal HTC Equity
B Bonds
Sources
Uses
![Page 23: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/23.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 24: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/24.jpg)
Deferred Developer Fee Cash Flow from Ops Rebates Seller Note GMHC Loan Met Council CPED FHF Loan MHFA -‐ EHDC Loan MHFA -‐ PARIF Loan
4% LIHTC Equity Tax-‐Exempt Bonds
$140M
$120M
$100M
$80M
$60M
$40M
$20M
$0M
Developer Fee Reserves Reloca.on Other General Development/ Financing Fees Construc.on Interest Architectural/Engineering/ Legal Fees
Construc.on + Construc.on Con.ngency
Acquisi'on Cost B Bonds
State HTC Loan Federal HTC Equity
$29 Mil
![Page 25: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/25.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 26: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/26.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 27: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/27.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 28: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/28.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 29: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/29.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 30: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/30.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 31: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/31.jpg)
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study
![Page 32: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/32.jpg)
![Page 33: RV 2014: Developers Roundtable presentation by George Sherman](https://reader035.fdocuments.in/reader035/viewer/2022070321/558ed8401a28abde458b4693/html5/thumbnails/33.jpg)
Riverside Plaza Renewing an Iconic Urban American Community George Sherman
ULI Minnesota-‐‑ Rail~Volution Riverside Plaza Case Study