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Item 6B - Applicant's PresentationNTtARDEN DISTRICT RESIDENCES FROM CONCEPT TO REALTYs J z JJ 77L ]3qJ77-- --� T=- we- — lick— �I�^ l aJJ J — J J Y tipril, 2021 I W�7-- Ll--- 0� ae �' SITE PLAN REQUEST SITE PLAN CONFORMS TO AND IMPROVES UPON - ...: P �K Ridg. 53Yd. THE 2013 APPROVED CONCEPT PLAN. PM v 1) Fewer Buildings/Units: Up to 58 two and three-bedroom Residences in 2 buildings; 1,500 SF minimum unit size and 2,000 SF estimate average unit size. 2) Direct Access: Elevators rise from a private garage to semi -private elevator lobbies. 3) Class A Buildings: Quality in design, construction and finishes inside and out will appeal to Town Square's upscale residential market. COOPER AN"STEBBINS ,o1jTH LA K£ TOWN SQUARE �3 A DEVELOPMENT BY COOPER 8 STEBBINS, L.P ecer4i 9U!L9.DG e R �' �►� �,�i�-ill iii., � ��►�— Mreting St'..t "sem '�-'.I Avenue Relocation i _ �.►�!! �.. Y 1 �� 1 1 1 1 .W 1 1 IL it _�• �. - _�! _ 2013 CONCEPT PLAN — 60 UNITS z SITE PLAN REQUEST (CONT.) ,o1jTH LA K£ TOWN SQUARE �3 A DEVELOPMENT BY COOPER 8 STEBBINS, LP SITE PLAN CONFORMS TO AND IMPROVES UPON THE CONCEPT PLAN APPROVED IN 2013. 1) David M. Schwarz Architects recognized as one of the world's best in creating upscale places for people. 2) 4 -story buildings fit within 52' height limit. 4t" floor Penthouse setbacks create large walk -out terraces 3) East building steps down to 3 stories at Meeting Street. COOPER AN"STEBBINS 3 WORLD CLASS ARCHITECTURE TIMELESS DESIGN COMPLEMENTS THE SURROUNDING DISTRICT. 4) 4 -sided brick buildings. Cast stone and other masonry accents incorporate Neo- classical influences. 5) Buildings designed to fit in with adjacent Brownstones and Residences. 6) Elimination of 3rd building creates new pocket park opportunity at NW corner of Meeting Street and Park Ridge Boulevard. COOPER AN"STEBBINS LSoI]TH LA K£ 'OWN SQUARE 1:1.�.. - A DEVELOPMENT BY COOPER 8 STEBBINS, L.P. 4 Sp IJ T LA K£ 'OWN SQUARE LANDSCAPE PLAN A DEVELOPMENT BY COOPER 8 STEBBINS, L.P. NEW OPEN SPACE WILL ENHANCE THE NEIGHBORHOOD'S OUTDOOR LIVING ROOM. 1) New Public Park: "The Grove" adds public park space and walking trails for residents and visitors. 2) The Terrace: Private amenity deck adjacent to Stebbins Park provides rich and varied outdoor living spaces for residents to meet and socialize 3) New Connections: New pathways add interest and enhance walkability around the Garden District and throughout Southlake Town Square. COOPER AN"STEBBINS F B ' z Park Ridge 61vd_ 02 terrace patio _-- 03 covered outd000r to rata with fire pit Setting area i - neat on -�' 05 -r— planting 07 daeu, osed . / p dean to path �.08_ fence and garden gate a� 09_ bio-swale planting 10 -decorative pots ti 10 and planting bands r / L LL= � •t` I � � n\{ II r The Grove� x The Terrace V, , Stebbins Park - f >. mote" St 1 k 5 PUBLIC PARK SPACE SOUTHLAKE 2035 SUPPORTS DEDICATION OF STEBBINS PARK AND THE GROVE. 1) These Park facilities serve the public and provide linear linkages meeting the needs of the City's residents, businesses and visitors. 2) Both Parks are desirable for dedication as part of the development process based on classification, location and maintenance cost. 3) Town Square Parks provide strategic opportunities for land acquisition for community and economic development. COOPER AN"STEBBINS ,o1jTH LA K£ TOWN SQUARE l3 A DEVELOPMENT BY COOPER 8 STEBBINS, LP 6 A NEW WAY OF LIVING DESIGN & AMENITIES WILL ENHANCE THE DOWNTOWN RESIDENTIAL LIFESTYLE. 1) Semi -private elevators serve each pair of Residences. 2) Design maximizes views and natural light for each Residence. 3) Fire/Service corridors enhance building safety and operations while adding to Resident privacy. COOPER AN"STEBBINS ,oI]TH LA K£ 'OWN SQUARE A DEVELOPMENT BY COOPER 8 STEBBINS, L.P. A NEW WAY OF LIVING (CONT.) DESIGN & AMENITIES WILL ENHANCE THE DOWNTOWN RESIDENTIAL LIFESTYLE. 1) 1St floor Residents' terraces provide walk -out access to adjacent Parks. 2) The Terrace provides a large outdoor living room for all Residents to enjoy. 3) Community Room and Fitness Room provide additional areas in which to socialize and work out. COOPER AN"STEBBINS LSoI]TH LA K£ 'OWN SQUARE U - A DEVELOPMENT BY COOPER 8 STEBBINS, L.P. 8 A NEW WAY OF LIVING (CONT.) SotJTH LA KF, TOWN SQUAKE A DEVELOPMENT BY COOPER 8 STEBBINS, LP DESIGN & AMENITIES WILL ENHANCE THE DOWNTOWN RESIDENTIAL LIFESTYLE. 1) Private entry drive and arrival court facilitates guest and service delivery and pick-up. 2) Private, secured underground parking garage provides 2 spaces per Residence. 3) Each Residence has indoor climate -controlled storage on its floor. I — _ � - -- r=-�-- i- . . - "� Private Pat Residential Building A Seating Area with QJ 0 a k i i Decorative Planting CIC ::1 El --00 't ❑L -3nL=n❑ Shumard Oak Trees ' Covered Terrace _j LI At Private Patio,TYp' — with Fire Pit � � � , _ � �^� � �` BIOS Plarrti LJ ❑oc El El ❑ < Q 6 Art ScIJJ nre o o c i l �c P-_ Residential------- Meadow Plan Ing dVI Building B J a l 1 errace ato Se g Area \j Existing Park Sire Trees -Area- �r IL r` T v F r l 1. r COOPER AN"STEBBINS TRAFFIC AND SAFETY ENHANCEMENTS ,o1jTHLAK TOWN SQUARE E 3Q A DEVELOPMENT BY COOPER 8 STEBBINS, LP PROPOSED CHANGES AT CENTRAL AVE. / FEDERAL WAY INTERSECTION WILL BENEFIT TOWN SQUARE. 1) New crosswalks would enhance safety and connectivity to and from Town Square's mixed-use districts. 2) New stop signs would help regulate speed and improve walkability on Central Avenue. 3) Meandering sidewalk would enhance landscape and add an opportunity for public art. COOPER AN"STEBBINS Park Ridge Blvd. A -- a�r' BUILIDNG A 4 STORES I NF1 � Q� - f II r SMIN.SLDU a 13AC^. E9 MAx Bi OG f � � r -- (SEE LWWG .tHNS FOhj' {[SAREA) J / \ - =.. ARRIVAL COUP' --------- _ �- STEBBINS PARK i a ' Meeting, street i 10 ADVANCING THE VISION THE GARDEN DISTRICT RESIDENCES ARE THE LATEST CHAPTER IN THE VISION TO: 1) Build a Stronger Community. 2) Build a Stronger Downtown. 3) Build a Stronger School District. LSpit T LA K£ 'OWN SQUARE 1:1.�.. - A DEVELOPMENT BY COOPER 8 STEBBINS, L.P. COOPER AN"STEBBINS 11 BUILD A STRONGER COMMUNITY GARDEN DISTRICT RESIDENCES WILL RETAIN AND ATTRACT VALUABLE RESIDENTS Downtown residential is providing options to valuable residents as their lifestyles change, and attracting new residents who are an asset to the Community: 1) Seniors and other Empty Nesters 2) Family Situations (Parents and In -Laws of Southlake Residents, Divorcees, etc.) 3) Traveling Lifestyle (Corporate Executives, Frequent Fliers, etc.) 4) SINKS and DINKs COOPER AN"STEBBINS ,oI]TH LA K£ 'OWN SQUAPU A DEVELOPMENT BY COOPER 8 STEBBINS, L.P. 12 Sp IJ T LA K£ 'OWN SQUARE BUILD A STRONGER DOWNTOWN A DEVELOPMENT BY COOPER 8 STEBBINS, L.P. `"THE BEST DOWNTOWNS HAVE PEOPLE LIVING IN THEM." - BRIAN R. STEBBINS 1) Goal #1 of City's Land Use Plan: "Promote quality development that... contributes to an overall sense of place and meets the needs of a vibrant and diverse community" 2) Growing the Town Square Community of Residents: Helps support, retain, and attract retailers, restaurants, office, entertainment and other commercial uses. 3) Smart Tax Base Growth: Quality residential in mixed use developments adds significant tax revenues allowing more flexibility to keep our taxes low. COOPER AN"STEBBINS 13 BUILD A STRONGER SCHOOL DISTRICT SIGNIFICANT PROPERTY TAX, PROTECTED FROM ROBIN HOOD, AND WITH FEWER BURDENS ON THE SCHOOLS. 1) $60M+ Garden District Residences will generate an estimated $600K+ in annual M&O CISD property taxes which are orotected frorr Robin Hood recapture due to its location in the City's Tax Increment Reinvestment Zone. 2) With the Garden District Residences, Town Square's residential property values are projected to grow to over $200M, on just 15 of Town Square's 125 acres — a yield of over $13M per acre. 3) Downtown residents have fewer kids and so are not a burden to schools but pay property taxes as if they did. They also have fewer cars and drive less, reducing traffic compared to commercial uses. COOPER AN"STEBBINS 4pIJ7H LA Kr. TOWN SQUARE 1'1 A DEVELOPMENT BY COOPER 8 STEBBINS, L.P. 14 ECONOMIC ENGINE TOWN SQUARE'S DOWNTOWN RESIDENTIAL PROGRAM IS GENERATING SIGNIFICANT RETURNS TO THE CITY AND SCHOOL DISTRICT. 1) Garden District Residences projected to be valued at over $60M on completion, over $1M per Residence. 2) With Garden District Brownstones, total value of the District on completion will exceed $100M. 3) Town Square's residential program is expected to grow to an estimated $200M on completion of the Garden District Residences, generating estimated property tax revenues of over $2.7M per annum to CISD and over $800K per annum to the City. COOPER AN"STEBBINS ,o1JTHLAK TOWN SQUARE E 3Q A DEVELOPMENT BY COOPER 8 STEBBINS, LP is