Rosslyn Plaza: SPRC #10 - Arlingtonva
Rosslyn Plaza: SPRC #10
APPLICANT DESIGN ARCHITECT ARCHITECT OF RECORD CIVIL ENGINEER LANDSCAPE ARCHITECT TRANSPORTATION ENGINEER STRUCTURAL ENGINEER MECHANICAL / ELECTRICAL / PLUMBING ENGINEER LAND USE ATTORNEYS DATE
Vornado / CES and The Gould Property Company Pickard Chilton WDG Bowman Consulting Reed Hilderbrand Wells and Associates Tadjer-Cohen-Edelson Associates GHT Limited Walsh Colucci Lubeley Emrich & Walsh PC 1 May 2013
1
Current Site Review Building
Office GFA
Retail GFA
Building A (London)
Residential GFA
Other GFA (theater)
149,864
Building B (Spectrum Theater)
9,440
Units
Total GFA
100
149,864
-
9,440
Building C
131,722
10,822
-
142,544
Building D
144,541
3,000
-
147,541
Building E
149,039
-
149,039
96
147,529
Building F (Normandy House)
147,529
Building G (North Building)
295,948
TOTALS
721,250
13,822
297,393
9,440
69%
1%
29%
1%
% of Total GFA
295,948 196
1,041,905
2
PDSP Overview • 5 Main Buildings plus a Retail Pavilion • 25 % Residential approx. 700 units in 2 Buildings • Increase from 196 to 700 Units (3.5X Increase) • 75% Commercial approx. 600,000 SF each in 3 Buildings • 83,500 SF Retail • Total 2,531,660 SF (10 FAR on existing property, 8.95 FAR total) • Not requesting an additional 296,350 SF • Approx. 2,600 Underground Parking Spaces
• 4 Major Open Spaces and Esplanade • Over 3.72 Acres (162,109 SF) of Open Space • Tree Lined Streets, Sunny and Shaded Open Spaces 3
Project Statistics by Phase Phase 1
Office SF
Phase 3
Phase 4
620,000
650,000
Residential SF Retail SF
Phase 2
316,500
Phase 5
Total
545,160
1,815,160 633,000
316,500
33,500
10,000
20,000
10,000
10,000
83,500
Parking Spaces
717
300-350
660
300-350
565
2582-2682
Open Space SF
57,548
6,729
55,318
23,739
18,775
162,109
4
Building Area Change Office GFA
Retail GFA
Residential GFA
Units
Other GFA (theater)
Total GFA
721,250
13,822
297,393
196
9,440
1,041,905
PDSP Site Plan
1,815,160
83,500
633,000
700
0
2,531,660
Change
1,093,910
69,678
335,607
504
(9,440)
1,489,755
% Change
152%
504%
113%
257%
(100%)
143%
% of Total GFA
72%
3%
25%
Current
5
Updated Site Plan
6
First Floor Use – Building Zones
Total Public Space:
162,109 SF 7
First Floor Use – Sample Buildings
Total Public Space:
177,952 SF 8
Uses: Residential Market Analysis
9
Summary
Summary
Summary
Summary
Summary
Summary
National Residential Supply 107,267 = 10% 1,098,641
DC MSA Population Estimate 2012: 5,860,342 US Population: 313,914,040 DC MSA %: 1.9% 23
Recent News: Bloomberg Finance April 23, 2013
DC Facing Apartment Glut By John Jordan | Washington, DC WASHINGTON, DC-A surge in apartment construction is causing Washington, DC to be one of the few major cities to likely have a decrease in apartment rental rates this year. Delta Associates reports that the Washington, DC metro region, which includes the suburbs of Maryland and Virginia, will experience rental rate declines of as much as 2% this year, joining Detroit as the only major cities to experience rental rate decreases. The Alexandria, VA-based research firm adds that rents in the District region will fall even further in 2014, according to Bloomberg News. “Everyone around the country is really watching D.C. because it’s on the front wave of all these markets—all the supply is coming back,” says Jay Denton, vice president of research at multifamily research firm Axiometrics Inc. He adds that investors want to see if new supply coming on line will meet the demand for rental apartments. See story at Bloomberg News. http://www.bloomberg.com/news/2013-04-23/washington-faces-apartment-glut-after-boom-real-estate.html 24
4,217 x 800 SF per Apartment = 3,373,600 SF
Uses: Office Market Analysis
29
Office Net Completions
Office Employment
Office Net Absorption
34,998 x 250 SF per Employee = 8,749,500 SF
2005-2030 RB Corridor Demand Office Demand: 34,998 x 250 SF per Employee = 8,749,500 SF
Residential Demand: 4,217 x 800 SF per Apartment = 3,373,600 SF 2030 New Demand= 12,123,100 SF Total Demand New Office SF = 8,749,500 / 12,123,100 = 72% New Residential SF = 3,373,600 / 12,123,100 = 28% PDSP Plan Building
Office GFA
Retail GFA
Residential GFA
Other GFA (theater)
Units
Total GFA
PDSP Site Plan
1,815,160
83,500
633,000
0
700
2,531,660
% of Total GFA
72%
3%
25%
Guiding Principles Summary: Uses 1. Development should create a live-work-shop environment, encourage vitality throughout the day and evening, and contribute to a more balanced use mix in Rosslyn.
2. Development should include a mix of uses, including office, residential, hotel, retail which serves a variety of users, cultural, and a community facility or civic space. 3. Retail should be clustered, have direct street frontage, and have good visibility from primary streets in central Rosslyn to encourage its success. 4. Ground floor uses should complement adjoining public open spaces and activate streetscapes. 5. Ground floor spaces should be attractive and flexible enough to accommodate a wide range of tenants, including small retail and service businesses.
Summary • The amount of retail is sufficient to become a critical mass for drawing people and creating activation
• Open space is significant and will likely increase through the 4.1 Site Plan Process • Lobby / Shared Space have been estimated based on functional needs and realities of building operations • Office / Residential Use Mix is in line with County AED estimates of future Arlington demand • The PDSP conforms with the Guiding Principles
Questions?
40
APPLICANT DESIGN ARCHITECT ARCHITECT OF RECORD CIVIL ENGINEER LANDSCAPE ARCHITECT TRANSPORTATION ENGINEER STRUCTURAL ENGINEER MECHANICAL / ELECTRICAL / PLUMBING ENGINEER LAND USE ATTORNEYS DATE
Vornado / CES and The Gould Property Company Pickard Chilton WDG Bowman Consulting Reed Hilderbrand Wells and Associates Tadjer-Cohen-Edelson Associates GHT Limited Walsh Colucci Lubeley Emrich & Walsh PC 1 May 2013
1
Current Site Review Building
Office GFA
Retail GFA
Building A (London)
Residential GFA
Other GFA (theater)
149,864
Building B (Spectrum Theater)
9,440
Units
Total GFA
100
149,864
-
9,440
Building C
131,722
10,822
-
142,544
Building D
144,541
3,000
-
147,541
Building E
149,039
-
149,039
96
147,529
Building F (Normandy House)
147,529
Building G (North Building)
295,948
TOTALS
721,250
13,822
297,393
9,440
69%
1%
29%
1%
% of Total GFA
295,948 196
1,041,905
2
PDSP Overview • 5 Main Buildings plus a Retail Pavilion • 25 % Residential approx. 700 units in 2 Buildings • Increase from 196 to 700 Units (3.5X Increase) • 75% Commercial approx. 600,000 SF each in 3 Buildings • 83,500 SF Retail • Total 2,531,660 SF (10 FAR on existing property, 8.95 FAR total) • Not requesting an additional 296,350 SF • Approx. 2,600 Underground Parking Spaces
• 4 Major Open Spaces and Esplanade • Over 3.72 Acres (162,109 SF) of Open Space • Tree Lined Streets, Sunny and Shaded Open Spaces 3
Project Statistics by Phase Phase 1
Office SF
Phase 3
Phase 4
620,000
650,000
Residential SF Retail SF
Phase 2
316,500
Phase 5
Total
545,160
1,815,160 633,000
316,500
33,500
10,000
20,000
10,000
10,000
83,500
Parking Spaces
717
300-350
660
300-350
565
2582-2682
Open Space SF
57,548
6,729
55,318
23,739
18,775
162,109
4
Building Area Change Office GFA
Retail GFA
Residential GFA
Units
Other GFA (theater)
Total GFA
721,250
13,822
297,393
196
9,440
1,041,905
PDSP Site Plan
1,815,160
83,500
633,000
700
0
2,531,660
Change
1,093,910
69,678
335,607
504
(9,440)
1,489,755
% Change
152%
504%
113%
257%
(100%)
143%
% of Total GFA
72%
3%
25%
Current
5
Updated Site Plan
6
First Floor Use – Building Zones
Total Public Space:
162,109 SF 7
First Floor Use – Sample Buildings
Total Public Space:
177,952 SF 8
Uses: Residential Market Analysis
9
Summary
Summary
Summary
Summary
Summary
Summary
National Residential Supply 107,267 = 10% 1,098,641
DC MSA Population Estimate 2012: 5,860,342 US Population: 313,914,040 DC MSA %: 1.9% 23
Recent News: Bloomberg Finance April 23, 2013
DC Facing Apartment Glut By John Jordan | Washington, DC WASHINGTON, DC-A surge in apartment construction is causing Washington, DC to be one of the few major cities to likely have a decrease in apartment rental rates this year. Delta Associates reports that the Washington, DC metro region, which includes the suburbs of Maryland and Virginia, will experience rental rate declines of as much as 2% this year, joining Detroit as the only major cities to experience rental rate decreases. The Alexandria, VA-based research firm adds that rents in the District region will fall even further in 2014, according to Bloomberg News. “Everyone around the country is really watching D.C. because it’s on the front wave of all these markets—all the supply is coming back,” says Jay Denton, vice president of research at multifamily research firm Axiometrics Inc. He adds that investors want to see if new supply coming on line will meet the demand for rental apartments. See story at Bloomberg News. http://www.bloomberg.com/news/2013-04-23/washington-faces-apartment-glut-after-boom-real-estate.html 24
4,217 x 800 SF per Apartment = 3,373,600 SF
Uses: Office Market Analysis
29
Office Net Completions
Office Employment
Office Net Absorption
34,998 x 250 SF per Employee = 8,749,500 SF
2005-2030 RB Corridor Demand Office Demand: 34,998 x 250 SF per Employee = 8,749,500 SF
Residential Demand: 4,217 x 800 SF per Apartment = 3,373,600 SF 2030 New Demand= 12,123,100 SF Total Demand New Office SF = 8,749,500 / 12,123,100 = 72% New Residential SF = 3,373,600 / 12,123,100 = 28% PDSP Plan Building
Office GFA
Retail GFA
Residential GFA
Other GFA (theater)
Units
Total GFA
PDSP Site Plan
1,815,160
83,500
633,000
0
700
2,531,660
% of Total GFA
72%
3%
25%
Guiding Principles Summary: Uses 1. Development should create a live-work-shop environment, encourage vitality throughout the day and evening, and contribute to a more balanced use mix in Rosslyn.
2. Development should include a mix of uses, including office, residential, hotel, retail which serves a variety of users, cultural, and a community facility or civic space. 3. Retail should be clustered, have direct street frontage, and have good visibility from primary streets in central Rosslyn to encourage its success. 4. Ground floor uses should complement adjoining public open spaces and activate streetscapes. 5. Ground floor spaces should be attractive and flexible enough to accommodate a wide range of tenants, including small retail and service businesses.
Summary • The amount of retail is sufficient to become a critical mass for drawing people and creating activation
• Open space is significant and will likely increase through the 4.1 Site Plan Process • Lobby / Shared Space have been estimated based on functional needs and realities of building operations • Office / Residential Use Mix is in line with County AED estimates of future Arlington demand • The PDSP conforms with the Guiding Principles
Questions?
40
