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Item 7A and 7B - Applicant's Presentation at P&Z Commission 02-06-2020"The Downtown Residences" Inspired by Southlake. Designed for Southlake. Block is Rezoning Request Rezone to DT to be consistent with Town Square and the City Land Use Overlay 01 1 Proposed text amendment adds new Section 37.7, similar to Garden District amendment in 2011. 02 1 "Downtown Residences" as defined would be unique to Block 11. 03 1 Downtown Residences definition is derived from existing Residential Loft language in DT Zoning. Development Plan Request Unique Opportunity in Town Square 01 1 350 Residential Lofts would be in 2 buildings designed by Town Square architect David M. Schwarz Architects. 02 1 Over 2 acres of elegantly landscaped and highly amenitized open space is included. 03 1 The project would increase Town Square residential entitlement to 13% of total acreage, below Land Use Plan 15% target. ❑IVIS°YEN STREET 21 r- f. 3 Development Plan Request Downtown Residences Summary 01 1 Amenities include 15,000 square feet of club room, fitness and multifunction space in a private clubhouse. 02 1 Minimum Residence size is 850 square feet; average is over 1,000 square feet. 03 1 2 private, secured parking garages provide 1.75 spaces per Residence (2.0 per Residence including guest parking) 11 The Downtown Residences Downtown Residences Lessen Traffic Impact and Enhance Connections 01 1 Residential use lessens traffic impact compared to commercial development. 02 1 Residents will enhance vitality of Town Square. 03 1 Development of block between DPS and Post Office will strengthen north -south Town Square connections. 5 The Downtown Residences Where Luxury Meets Convenience 01 1 High end design delivers the space you need, without the space you don't. 02 1 Flexible multi -function spaces delivers luxury amenities for living and entertaining. 03 1 Town Square delivers a lifestyle that can be enjoyed every day. "The future of luxury is freedom... the freedom to just go and do what 1 want to do, when 1 want to do it." - Doug Stephens, "The Retail Prophet" �kAhM5 Id. Sol N Our Vision Develop the Downtown Residences in order to: 01 1 Build a Stronger Community 02 1 Build a Stronger Downtown 03 1 Build a Stronger School District Build a Stronger Community Retain and Attract Valuable Residents We are losing valuable residents as their lifestyles change, and failing to attract others that would be an asset to the Community: 01 1 Seniors and other Empty Nesters 02 1 Family Situations (Parents and In -Laws of Southlake Residents; Divorcees, etc.) 03 1 Travelling Lifestyle (Corporate Executives; Frequent Fliers; etc.) The heart and soul of Southlake is our community. **PO.O 0 .�'-� �' n Community Trend Rise of the Affluent Renter 01 1 Affluent "Renters by Choice" are driving the luxury rental development boom in the U.S., Texas and DFW. 02 Luxury rentals free up time for travel, families, and personal interests. 03 Today's luxury rentals provide high-end residential design and amenities. W Build a Stronger Downtown Leveraging Our Basis 01 1 Town Square is in demand as a place to live. 02 1 More residents living in Town Square will add to its vibrancy and sustainability. 03 1 Growing the Town Square community of residents will help support, retain, and attract retailers, restaurants, office, entertainment and other commercial uses. Goal No. 1 of the Southlake Land Use Plan is to "promote quality development that... contributes to an overall sense of place and meet the needs of a vibrant and diverse community." Mixed Use Trends Live/ Work/ Play 01 1 Today's mixed use environments provide strong residential communities. 02 1 Changes in shopping, entertainment, working, living and leisure have placed a premium on these experiential environments. 03 1 A strong mix of residential and commercial uses creates a stronger sense of place, and enhances project performance and long term economic returns. The X%TalkUP Wake- Up Call Dallas- Ford Wow Ery Tracy F9ke+ Lct�, PhD Cmistzph^r & umbarvm Center for Real Esta% and Urban Analysis 7M "OWA1�N Fi.racecnv Build a Stronger School District Property Tax Revenues Protected from Robin Hood Recapture 01 1 This $100+ million project will generate over $1.4 million in annual CISD property tax revenues which are protected from Robin Hood recapture due to its location in the City's Tax Increment Reinvestment Zone (TIRZ). 02 1 The TIRZ term lasts until December 31, 2038. 03 1 Affluent Renters have fewer children on average. 12 Public Finance Trends Raising Tax Exempt Revenues 01 1 In 1997, the TIRZ was established to provide a financing mechanism to facilitate high quality development in the SE sector of the City which includes Town Square and 4 CISD facilities. 02 1 The TI RZ has helped fund City and CISD projects including Town Hall, DPS HQ, Dawson, Eubanks and Old Union campuses, and the Dragon Football Stadium. 03 1 The law in 1997 grandfathered CISD's use of 100% of their TIF increment without Robin Hood recapture. Tax Increment Finance District s �F Galrcl ,Leta G�a�.r�a BNcet :e1eEr/a5 �aaA�,aa 100Yox V.w.] Par 13SOUTHLA!« 13 ? Scale 1:31)MO s.: 1 rrxn - 2500 reec I I 13 Fits With SouthLake's Vision for Town Square "Southlake's economy will continue to change in response to technology, social change, and global trends. Zoning and land use must respond to these changes." (2016) Southlake Economic Development Master Plan "Promoting a functional and attractive community through the use of urban design principles; and allowing developers flexibility in land use and site design." DT Downtown District Zoning Section 37.1 Our Commitment Cooper and Stebbins has a 25 -year track record as a proven Partner: 01 1 "Community First" Approach 02 1 World Class Planning & Design 03 1 Superior Social, Economic and Environmental Outcomes 15 Let's Get it Right ...Again Anti -density arguments were made in 1996 to promote "business as usual" and to stop Town Square. Yet we worked together as a community to create the Downtown that sets us apart from our peers and has become Southlake's economic engine. We ask the community of Southlake to work with us again to build a stronger Community, Downtown and School District. 16 Questions & Answers We have researched questions and concerns asked at the Marq Presentation, the SPIN Meeting, and other forums. The following slides provide responses to many of those questions. 17 Concerns for Traffic Impact City of Southlake Application Requirement: Traffic Impact Analysis Report reviewed by the City Engineer. 01 1 Subject Site Trip Generation Daily Total by Use o Retail / Restaurant (75,000 SF) = 7,293 o Medical Office (75,000 SF) = 2,974 o Multi -family (350 units) =1,906 (74% less than retail / restaurant) ARI2ONA TE05 NEIN MEXICO ORIRftOMA LR rcnana::vine November 26, 2019 Mr. Chris Paulus Cooper and Company 1256 Main Street, Suite 240 Southlake, TX 76092 Re: Trak EngineeriW Sen/fre5 — Proposed 0evefopment for Block 12 in SouthMke, Teams Dear Mr. Paulus •. The number of trips generated by a development Is a function of the type and quantity of the land use within the development. The number of vehicle trips generated by a proposed development can be estimated based on the trip generation ratesand equations provided in the publication entitled Trip tsenerotion Monuoi, Tenth Edition, by the Institute of Transportation Engineers (ITE'. Estimates of the numher of trips generated by the development alternatives were made for typical weekdays and AM and PM peak hours. Table 1 shows a summary of the land use confieurations and oeak hour trios venerated: I Table 1; Peak Hour Trip Generation Su mrnary 1 Land Use r onf oration Daily1rotal AM Peak PM Peak Retail / Restaurant (75,ti0D SF) 7,293 480 425 Medica IOffice (75,000SP) 2,794 173 1 256 Multifa mliy 1350 Units) 1,906 117 147 Internal capture reductions were used to estimate the trips generated by the mixed-use development alternative. The detailed trip generation ratesr directional splits and the estimated trips are shown for three potential land use configurations in Tables 2 -A. Professional Engineers & Land Surveyors 3030 L&I Freeway, suite IS&0, Dallas, TX 75234 {972] 24a-3006 office (972} 249-3655 fax I www-leeen.gineering.com Page 1 of 3 We appreciated the opportunity to provide these traffic engineering services for you. Feel free to contact me 02 1 Calculated using the Trip Generation Manual,10th at (9721248-3006 should you have any questions. Edition by the Institute of Transportation Engineers, an le international association 5 T. 5faoR P. €., PTOE Project Engineer 03 1 Third -party firm certified by the Texas Board of Lee Engineering, LLC L TBPEFIrmRegistration 9F-450 10 Professional Engineers & Land Surveyors 3030 L&I Freeway, suite IS&0, Dallas, TX 75234 {972] 24a-3006 office (972} 249-3655 fax I www-leeen.gineering.com Page 1 of 3 "The City of Westlake [is] the Beverly Hills of Austin." - Forbes (Sept. 17, 2019) Example of Top School District with Multi -Family Eanes ISD - #1 Ranked School District in Texas (#11 in U.S.) has over 600 multi -family rental units 01 1 Nalle Woods of Westlake (Austin / Westlake Hills area) 0 238 apartments built in 2003 02 1 3500 Westlake (Austin/ Westlake Hills area) 0 175 residences built in 2007 03 1 Westerly Three Sixty (Austin / Westlake Hills area) 0 189 residences built in 2017 FPPPPP- E S O,t 'TQ �S 19 Multi -family Has Not Overcrowded EISD 01 1 Eanes ISD is forecasting relatively flat enrollment before a slow decline. 02 1 In 2018, the district saw an increase in new home activity with more than 100 new home starts. 03 1 Future development plans include: (i) 67 -unit multi -family development; (ii) 20 - unit condo development, and (iii) 22 town homes. % Ten Year Forecast — Resident Students tU By Grade Level Year (Oct) K 1st 2nd 3rd 4th 5th 6th 7th 8th 9th loth lith 12th Total Total Growth % Growth 2014/1S 444 519 566 538 579 622 618 612 546 573 608 546 553 7,324 2015/16 475 458 550 576 581 600 639 628 631 580 588 596 579 7,491 167 2.3% 2016/17 460 512 487 573 610 602 611 647 611 655 582 566 604 7,520 29 0.4% 2917/18 417 490 534 504 606 609 614 629 666 650 666 580 584 7,549 Z9 0.4% 2018/19 422 434 516 521 515 618 609 615 643 678 556 645 574 7,491 -58 -0.77% 2019/20 1 436 1 455 462 1 531 553 532 628 622 627 677 690 1 644 653 7,554 63 '0.85% 2020/21 436 466 479 472 562 572 541 638 636 660 687 682 655 7530 -25 -033% 2021/22 450 466 485 488 499 575 582 552 651 658 670 671 686 7;488 -41 -0.55% 2022/23 427 48Z 491 494 516 511 589 594 561 684 681 654 674 7,402 -86 -1.15% 2023/24 453 454 505 501 524 526 522 602 612 591 699 664 660 7,357 -45 -0.6196 2024/25 433 480 477 516 525 53S 534 527 622 644 601 686 670 7,292 -65 -0.8896 2025/26 457 462 502 486 544 536 552 546 541 650 657 585 690 7,251 -41 -0.57% 2026/27 424 485 485 512 511 557 551 559 565 570 664 641 590 7,158 -93 2027/28 445 449 508 492 535 523 573 559 577 588 581 648 645 7,166 8 ❑.1196 2028/29 451 471 471 517 519 548 540 583 577 604 600 567 652 7,144 -22 'Yellow box = largest grade per year -Green box= se€ond largest grade per year Note: totals include PKID and Adult Transition students not shown • Eancs ISIS is projected to enroll more than 7,500 reside students for fall 2019 • 2023/24 enrollment = 7,357 resident students • 2427/28 enrollment = 7,144 resident students 20 Concerns For Carroll ISD Overcrowding Significant decline in year over year CISD 10 -year enrollment forecast (see chart) 01 1 "Yields have declined in homes built prior to 2006 indicating slow regeneration." 02 1 887 new home closings in Southlake between 2014-2018 and CISD enrollment (excluding transfers) only increased 304 students during the same time period. 03 1 "More than 50% of the district's future housing development fall within Walnut Grove Elementary zone due to activity within Entrada (Westlake) and Granada." CISD Demographic Report Enrollment Forecast 9,800 9,556 9 6010 9,466 9,495 9,400 9,105 9,208 9,343 9,2003,953 8,930 8,927 gig 9940 9,000 8,475 8,662 8,805 6,74,2 8,812 887 , 8,939 9,800 8,360 gr5,03 I k1,598 8 600 93661 8,344 8,400 8,200 ,BDOZ 7 7,600 Schaal Year ■ CISD 2017/2018 10 -Year Enrollment Forecast ■ CISD 2018/2019 10 -Year Enrollment Forecast Per CISD 2018/2019 Demographic Report 21 Concerns For Carroll ISD Overcrowding Out -of -District Students Comprise an Increasing Share of CISD Enrollment 01 1 CISD Total Transfers In has increased by 179 0 students from 393 in 2013/2014 to 572 in 2017/2018 02 1 Growth of Out -of -District students has helped lead to current level of enrollment -%— TEA Transfer Report Inter-District Transfers, 2012/13 - 2017/18 700 baa 500 420 31W 200 10u 0 7013/14 2014/15 2015/16 2016/17 2017/18 ■T.W Transfers In ■ Tutal Transfers Out Total transfers into the district have steadily increased over the last 5 years, with the highest totals corning froui Keller ISD and Northwest ISD Total transfers out of the district have slightly decreased over the last 5 years. with the highest totals transferring to Westlake Academy Charter School Out of pistrtct 482 592 552 582 643 671 28 189 Per CISD 2018/2019 Demographic Report Total Students 7,817 7,897 9,052 8,210 8,345 8,352 7 5535 % out of District 6.29b 7.5% 6.8% 7.1% 7.7% 8.096 4.3% 1.8% Concerns Property Values Will Decrease Southlake Historical Society - Town Square Property values will decrease is the same argument made when Town Square was proposed. • "A second public meeting drew on overflow crowd of homeowner associations in arms and residents crying that a town square would bring crime and their SOUTH (LAKE HISTORICAL SOCIETY PRESERVE TNETRADITION Home History of Southtake Buildings & Markers Photo & Video Gallery Events About Us Telt Us Your Story Generat Store ■ D/FWArport 13 Town Sq.— property values would fall." : H °pi.. The argument was made again for the Main Street Brownstones, the Garden District, and Parkview Condos which each set new records for most expensive residences per square foot, at their respective time. Frank B' ss. then vice presidentremembers the crowd wasn't exactty welcoming. "One man said. 'Show me what your plan is' We said we don't have a pram it'd be premature until we find out how this fits your community. Finally one guy says.'CK. Look. I thinkyou're lying Ithat you don't have a plan], but on the off- chance that you're not. when our kids have a prom, they gotta go to Grapevine. We'd like to have a place where our kids can stay in the community." Someone else mentioned that a restaurant would be nice. A second public meeting drew an overflow crowd of homeowner associations in amts and residents crying that a town square would bring crime and their property values would fail. The site of today's Town Square included this farmhouse. built in (gig bymembers ofthe McPherson family, The Fechtel family bought the farm in i95o and ran a chicken hatchery In 1996 Rialto (later Cooper and Stebbins) purchased the property To the dismay ofsoine members of the Southlake Historical Society the Se 1Ke Firs Department burned. da¢ "armhouse as prac8ee fora iff io ort � aey wanted it m - . 'o be preservesufAloha Payne) 23 Town Square TOWN In tggo, as a mostly rural Southlake began to "grow up" SOIJARF by adding subdivisions, recreational activities and businesses. developers took notice. A California group named Rialto (Later renamed Cooper and Stebbins] Learned of a 130 -acre tract in the heart of ■ Timetne Southlake, and by March 1996 had bought it and settled in to do something for a community on the verge of wanting ■ our Rich Past more than just a Walmart, McDonald's and Dairy Queen ■ Missoun Colorists Company president Brian Stebbins invited residents to a ■ Civil War public meeting: at the town's Community Center la donated drive -up bank building moved to Bicentennia'. ■ BobSones park) ■ Area W -L of Grapevine 'lf were going to tDUILd a downtown. 915 up to G5 t(1 know ■ Bonnie and Clyde what you want,'he told residents. Accompanying him was ■ Fake Grapevine the newly hired architect. David M. Schwarz (Bass Hall, ■ Founding The Ballpark in Arlington, American Airlines Center]. who ofsovthlake stood by with a marker and Large pad in hand. ■ D/FWArport 13 Town Sq.— property values would fall." : H °pi.. The argument was made again for the Main Street Brownstones, the Garden District, and Parkview Condos which each set new records for most expensive residences per square foot, at their respective time. Frank B' ss. then vice presidentremembers the crowd wasn't exactty welcoming. "One man said. 'Show me what your plan is' We said we don't have a pram it'd be premature until we find out how this fits your community. Finally one guy says.'CK. Look. I thinkyou're lying Ithat you don't have a plan], but on the off- chance that you're not. when our kids have a prom, they gotta go to Grapevine. We'd like to have a place where our kids can stay in the community." Someone else mentioned that a restaurant would be nice. A second public meeting drew an overflow crowd of homeowner associations in amts and residents crying that a town square would bring crime and their property values would fail. The site of today's Town Square included this farmhouse. built in (gig bymembers ofthe McPherson family, The Fechtel family bought the farm in i95o and ran a chicken hatchery In 1996 Rialto (later Cooper and Stebbins) purchased the property To the dismay ofsoine members of the Southlake Historical Society the Se 1Ke Firs Department burned. da¢ "armhouse as prac8ee fora iff io ort � aey wanted it m - . 'o be preservesufAloha Payne) 23 Concerns Property Values Will Decrease Property Values Did Not Decrease Due to Town Square Residential Development Development of Brownstones and multi -family residential has not decreased our property values. US Census Bureau's ACS Website https://data.census.gov/cedsci/table?q=South la ke%20TX%2 Ohousing&tid=ACSDP5Y2018.DP04&t=Housin.&�layerWIac e&2=1600000US4869032 Southlake Medium Home Value Eased on US Census Bureau's ARCS $656,100 $704,000 $5561,700 $627,700 $600,000 $514,900 $586,400 $491,700 $530,300 7 $500,000 $473,900 $498,800 a $400.1000 E $300,000 $ 2000,000 $1[10,000 2010 2011 2012 2013 2014 2015 2016 2017 2018 Year 24 Renderings of Downtown Residences with Current Park 25 McPherson Park Redevelopment In 2018, the City of Southlake amended the city's 2030 Parks, Recreation and Open Space/Community Facilities Master Plan which included a redevelopment plan for McPherson Park. Recommendations focus on a number of improvements to activate McPherson Park including: Reshaping of the pond area • Installation of a promenade • Adding additional hardscape and tree plantings Concept Plan of Approved McPherson Park Redevelopment BLOCK I1 FUTURE DEM, SITE McPherson Park Redevelopment Images show the trompe I'oeil "fake bridge" on State Street. r 27 Developer's U ndeveLoped Land in Town Square All of the undeveloped parcels are zoned DT Downtown District, except the subject application. The aerial to the right shows anticipated uses based on market and planning studies to date. • Block 3 - Residential • Block 11 - Residential • Block 12 - Restaurant and / or public use • Block 16 - Mixed-use office / restaurant • Block 19 - Mixed-use office / residential / restaurant ea �.-...ry 'rw f.• I P Left Blank Intentionally 29 DIVISION STREET pi qF.4p _ e ML I. _'!. .. al. ...'..'f 30