1. Urban and Infill Revitalization September 19, 2007 Moderator: Xavier Gutierrez Phoenix Realty Group
2. Urban and Infill Revitalization Panelists
President, Board of Administration
Board of Investments
Board of Administration
3. About Phoenix Realty Group (PRG)
PRG is a national real estate fund manager that provides:
Capital and expertise to urban developers
Opportunistic rates of return in geographically targeted investments to institutional investors
Urban and infill development
Rental, for-sale and affordable housing
Community-revitalizing commercial and mixed-use
4. About Phoenix Realty Group (PRG)
Private Equity and Tax Credit funds:
$800 million in funds
$4.1 billion in development
500,000+ commercial square feet
5. Economic Benefits and Social Impact Doing Well by Doing Good Geography Focus on urban redevelopment areas Affordability Create housing affordable to incomes of 60% to 200% of area median Tax Revenues $130 million in construction sales tax and $5 million in recurring annual taxes Job Creation Nearly 20,000 construction jobs and 1,600 permanent jobs
6. Puerta del Sol Lincoln Heights, Los Angeles
7. Santee Village Downtown Los Angeles
8. Fifth on the Park Harlem, New York
9. A Case Study On Baldwin Hills Crenshaw Plaza (BHCP) Los Angeles, CA By Herman Santos Member of The Board of Investments for LACERA September 19-20, 2007
14. 2005 Population 2005 Average Household Income Ethnic Mix: 3-Mile Radius Source: Claritas
16. 10-Year NOI and Cash Flow
20. Urban and Infill Revitalization What programs have you created to invest in urban and/or infill revitalization efforts?
21. Urban and Infill Revitalization What makes these investments attractive?
22. Urban and Infill Revitalization What was the process to establish these programs, and what lessons could you share with other pension boards looking to establish similar programs?
23. Urban and Infill Revitalization What key criteria do you use to evaluate fund managers and investments in the urban market segment?
24. Urban and Infill Revitalization What is the downside risk of these investments?
25. Urban and Infill Revitalization What advice do you have for fund managers seeking to serve public pension funds in these areas?
26. Urban and Infill Revitalization What do you see as the next big urban and infill opportunities on the horizon?