• Home

  • Documents

  • DEVELOPMENT / DESIGN NARRATIVE FINANCIAL NARRATIVE...A contemporary evolution of the traditional ......
1
As competition to sustain industry and population intensifies in the rapidly evolving landscape of the 21st century, urban centers increasingly consider their role as both distinct entities and actors within larger multi-regions. Like many mid-sized midwestern cities sharing a past shaped by manufacturing, Cincinnati faces the need to position itself regionally, nationally, and internationally as challenges presented by globalization, urbanization, and digitization unfold. The Banks has the economic, historical, and infrastructural potential to support this aspiration. The prominent and high powered site establishes a gateway into the city, a front lawn to downtown, and has the capacity to redefine the city by regenerating the economic vitality once showcased on the riverfront. Today, Cincinnati ranks 65th in the nation in population; however, the strong presence of overlapping industries and shared innovation has positioned it at number 6 in concentration of Fortune 500 companies. A new innovation district, The Exchange at The Banks, will build on this synergy by leveraging the promising future of the site. Innovation potential will be utilized to attract a core of nine Fortune 500 companies with the objective of pursuing long-term, mutually attractive projects. The design and development strategies for this innovation core will nurture and support cross-fertilization and facilitate interactions between like-minded companies. A deliberately mixed use and pedestrian focused environment will foster a community built on innovation. The Exchange strengthens the existing entertainment focused identity at The Banks, and inserts an innovation based planning strategy to provide stability between influxes of events based energy. Guidelines for street and building design will enrich the historic character of Cincinnati and create an experience oriented development to increase foot traffic and encourage cross industry conversations. The Exchange will attract industry leaders for its location and amenities. Immediate adjacencies encourage access to downtown, renowned Smale Riverfront Park and both stadiums. Capping the highway repairs the severed connection between the Downtown Central Business District and The Banks and establishes the Parcade. A contemporary evolution of the traditional median marketplace, its supersized scale recognizes the value of both commerce and public space. It provides a framework to showcase the diversity of localvendors and startups, and direct access to open green space. Washington Way Park supplies a “garden” for the dominant new tower along Cincinnati’s skyline. The Sports Promenade strengthens the corridor between the two stadiums by redesigning the intersection at the entry to Paul Brown Stadium. A graphic art walk integrates both stadiums with the streetscape and energizes the promenade, while enhancing the distinctive quality of the space. Pedestrian connections to Smale Riverfront Park are reinforced and the river is seen as an opportunistic space for future development. By improving public transportation between the burgeoning Uptown Innovation District and The Exchange at The Banks, a foundation is laid for the first twin-centered real estate development built as a crossroads for innovation. This strategy will cement the long-term competitive advantage of the region by positioning Cincinnati as a critical nexus within the midwest and a thriving node within a global network. DEVELOPMENT / DESIGN NARRATIVE FINANCIAL NARRATIVE Athena Properties will develop The Exchange through a joint venture with the city of Cincinnati. Athena will purchase parcels A, B, C, D, E, F, and G. Additional lots will be purchased on Third Street to develop several mixed-use residential, office, and retail. The development entity will acquire the land in three separate closings under one land acquisition agreement, with options for phase II and III land executed immediately preceding their respective groundbreakings. These acquisitions will be based on a fixed price of C$55 per square foot for Phase I, C$56 per square foot for Phase II, and C$57 per square foot for Phase III, with a total land acquisition cost of C$96.62 million. The venture will invest C$322 million in private infrastructure and public spaces to connect with the surrounding communities and enhance the experience for all who visit the Banks of Cincinnati. Improvements include an elevated half-acre walking space over Fort Washington Way, three public ground retail locations, including a market space, entertainment venues, and various innovation spaces. Infrastructure costs will be front-loaded in the first two phases of development The site will be developed in three phases over eight years, with a total development cost of C$811 million. Phase I will be constructed at the northern portion of the site where infrastructure is required for the highway and will redesign the neighborhood around the banks. The cornerstone of Phase I is the open-area community park space, which will be accessible by the general public. Phase II will supplement this recreated neighborhood with condominium, apartments, affordable housing, and luxury hotel. Through a variance with the city, the last phase will feature experiential retail, technology centers and meeting rooms, and co-living & co-working spaces. Through a strategic alignment of condominium pre-sales and permanent refinancing of earlier phases with construction of subsequent phases, the entity will minimize required equity contributions for phases II and III. Construction will be financed with a senior loan at 65% loan-to- cost carrying a 5.0% interest rate with the rest funded by equity split between the partners involved, potentially including the city of Cincinnati in the form of CRA investment and TIF financing. Due to equity reinvestment, the bulk of the equity return comes in years 8, 9 and 10 and the assumed sale of the property following the 10-year holding period. Returns by phase and the total project are as follows: EXPERIENCE CHANGE 197707

DEVELOPMENT / DESIGN NARRATIVE FINANCIAL NARRATIVE...A contemporary evolution of the traditional ... The Exchange at The Banks ... Infrastructure costs will be front-loaded in the

  • Upload
    others

  • View
    0

  • Download
    0

Embed Size (px)

Citation preview

Page 1: DEVELOPMENT / DESIGN NARRATIVE FINANCIAL NARRATIVE...A contemporary evolution of the traditional ... The Exchange at The Banks ... Infrastructure costs will be front-loaded in the

Ascompetitiontosustainindustryandpopulationintensifiesintherapidlyevolvinglandscapeofthe21stcentury,urbancentersincreasinglyconsidertheirroleasbothdistinctentitiesandactorswithinlargermulti-regions.Likemanymid-sizedmidwesterncitiessharingapastshapedbymanufacturing,Cincinnatifacestheneedtopositionitselfregionally,nationally,andinternationallyaschallengespresentedbyglobalization,urbanization,anddigitizationunfold.TheBankshastheeconomic,historical,andinfrastructuralpotentialtosupportthisaspiration.Theprominentandhighpoweredsiteestablishesagatewayintothecity,afrontlawntodowntown,andhasthecapacitytoredefinethecitybyregeneratingtheeconomicvitalityonceshowcasedontheriverfront.Today,Cincinnatiranks65thinthenationinpopulation;however,thestrongpresenceofoverlappingindustriesandsharedinnovationhaspositioneditatnumber6inconcentrationofFortune500companies.Anewinnovationdistrict,The Exchange at The Banks,willbuildonthissynergybyleveragingthepromisingfutureofthesite.

InnovationpotentialwillbeutilizedtoattractacoreofnineFortune500companieswiththeobjectiveofpursuinglong-term,mutuallyattractiveprojects.Thedesignanddevelopmentstrategiesforthisinnovationcorewillnurtureandsupportcross-fertilizationandfacilitateinteractionsbetweenlike-mindedcompanies.Adeliberatelymixeduseandpedestrianfocusedenvironmentwillfosteracommunitybuiltoninnovation.The ExchangestrengthenstheexistingentertainmentfocusedidentityatTheBanks,andinsertsaninnovationbasedplanningstrategytoprovidestabilitybetweeninfluxesofeventsbasedenergy.GuidelinesforstreetandbuildingdesignwillenrichthehistoriccharacterofCincinnatiandcreateanexperienceorienteddevelopmenttoincreasefoottrafficandencouragecrossindustryconversations.

The Exchangewillattractindustryleadersforitslocationandamenities.Immediateadjacenciesencourageaccesstodowntown,renownedSmaleRiverfrontParkandbothstadiums.CappingthehighwayrepairstheseveredconnectionbetweentheDowntownCentralBusinessDistrictandTheBanksandestablishestheParcade.Acontemporaryevolutionofthetraditionalmedianmarketplace,itssupersizedscalerecognizesthevalueofbothcommerceandpublicspace.Itprovidesaframeworktoshowcasethediversityoflocalvendorsandstartups,anddirectaccesstoopengreenspace.WashingtonWayParksuppliesa“garden”forthedominantnewtoweralongCincinnati’sskyline.TheSportsPromenadestrengthensthecorridorbetweenthetwostadiumsbyredesigningtheintersectionattheentrytoPaulBrownStadium.Agraphicartwalkintegratesbothstadiumswiththestreetscapeandenergizesthepromenade,whileenhancingthedistinctivequalityofthespace.PedestrianconnectionstoSmaleRiverfrontParkarereinforcedandtheriverisseenasanopportunisticspaceforfuturedevelopment.

ByimprovingpublictransportationbetweentheburgeoningUptownInnovationDistrictandThe Exchange at The Banks,afoundationislaidforthefirsttwin-centeredrealestatedevelopmentbuiltasacrossroadsforinnovation.Thisstrategywillcementthelong-termcompetitiveadvantageoftheregionbypositioningCincinnatiasacriticalnexuswithinthemidwestandathrivingnodewithinaglobalnetwork.

DEVELOPMENT / DESIGN NARRATIVE FINANCIAL NARRATIVE

AthenaPropertieswilldevelopThe Exchange throughajointventurewiththecityofCincinnati.AthenawillpurchaseparcelsA,B,C,D,E,F,andG.AdditionallotswillbepurchasedonThirdStreettodevelopseveralmixed-useresidential,office,andretail.Thedevelopmententitywillacquirethelandinthreeseparateclosingsunderonelandacquisitionagreement,withoptionsforphaseIIandIIIlandexecutedimmediatelyprecedingtheirrespectivegroundbreakings.TheseacquisitionswillbebasedonafixedpriceofC$55persquarefootforPhaseI,C$56persquarefootforPhaseII,andC$57persquarefootforPhaseIII,withatotallandacquisitioncostofC$96.62million.

TheventurewillinvestC$322millioninprivateinfrastructureandpublicspacestoconnectwiththesurroundingcommunitiesandenhancetheexperienceforallwhovisittheBanksofCincinnati.Improvementsincludeanelevatedhalf-acrewalkingspaceoverFortWashingtonWay,threepublicgroundretaillocations,includingamarketspace,entertainmentvenues,andvariousinnovationspaces.Infrastructurecostswillbefront-loadedinthefirsttwophasesofdevelopment

Thesitewillbedevelopedinthreephasesovereightyears,withatotaldevelopmentcostofC$811million.PhaseIwillbeconstructedatthenorthernportionofthesitewhereinfrastructureisrequiredforthehighwayandwillredesigntheneighborhoodaroundthebanks.ThecornerstoneofPhaseIistheopen-areacommunityparkspace,whichwillbeaccessiblebythegeneralpublic.PhaseIIwillsupplementthisrecreatedneighborhoodwithcondominium,apartments,affordablehousing,andluxuryhotel.Throughavariancewiththecity,thelastphasewillfeatureexperientialretail,technologycentersandmeetingrooms,andco-living&co-workingspaces.

Throughastrategicalignmentofcondominiumpre-salesandpermanentrefinancingofearlierphaseswithconstructionofsubsequentphases,theentitywillminimizerequiredequitycontributionsforphasesIIandIII.Constructionwillbefinancedwithaseniorloanat65%loan-to-costcarryinga5.0%interestratewiththerestfundedbyequitysplitbetweenthepartnersinvolved,potentiallyincludingthecityofCincinnatiintheformofCRAinvestmentandTIFfinancing.Duetoequityreinvestment,thebulkoftheequityreturncomesinyears8,9and10andtheassumedsaleofthepropertyfollowingthe10-yearholdingperiod.Returnsbyphaseandthetotalprojectareasfollows:

EXPERIENCE CHANGE 197707

A Vindication of Human Dignity: A New Narrative of Meaning ...mettacenter.org/wp-content/uploads/2012/07/New-Narrative-v2.pdf · Design: Lynda Banks • Helping people practice nonviolence

A Vindication of Human Dignity: A New Narrative of Meaning ...mettacenter.org/wp-content/uploads/2012/07/New-Narrative-v2.pdf · Design: Lynda Banks • Helping people practice nonviolence

Documents
Files Loaded

Files Loaded

Documents
Loaded language

Loaded language

Documents
Eccentrically Loaded Columns1

Eccentrically Loaded Columns1

Documents
LOADED LIP U-CUP PART NUMBERING SYSTEM Loaded Lip U-Cup Family.pdfStandard X-Ring Loaded Lip U-Cup Deep X-Ring Loaded Lip U-Cup Square B X-Ring Loaded Lip U-Cup Type B X-Ring Loaded

LOADED LIP U-CUP PART NUMBERING SYSTEM Loaded Lip U-Cup Family.pdfStandard X-Ring Loaded Lip U-Cup Deep X-Ring Loaded Lip U-Cup Square B X-Ring Loaded Lip U-Cup Type B X-Ring Loaded

Documents
INTRODUCTORY LECTURE The Graphic Narrative. A Meta-Narrative of Graphic Narrative A meta-narrative refers to an overarching narrative that explains a

INTRODUCTORY LECTURE The Graphic Narrative. A Meta-Narrative of Graphic Narrative A meta-narrative refers to an overarching narrative that explains a

Documents
Narrative Narrative, Narrative Analysis, and Narrative Writing

Narrative Narrative, Narrative Analysis, and Narrative Writing

Documents
Biaxially Loaded Columns

Biaxially Loaded Columns

Documents
NARRATIVE - J+J Flooring Group · NARRATIVE 3. FIRE & ICE 5. Narrative Epilogue, herringbone. NARRATIVE. NARRATIVE. 7 narrative 7084. Narrative Edition and . Cliff-Hanger, ashlar

NARRATIVE - J+J Flooring Group · NARRATIVE 3. FIRE & ICE 5. Narrative Epilogue, herringbone. NARRATIVE. NARRATIVE. 7 narrative 7084. Narrative Edition and . Cliff-Hanger, ashlar

Documents
Spring Loaded • Dome Loaded • Pilot Actuated · 2018. 1. 25. · achievable with dome loaded regulators. If greater accuracy is required, pilot operated dome loaded regulators

Spring Loaded • Dome Loaded • Pilot Actuated · 2018. 1. 25. · achievable with dome loaded regulators. If greater accuracy is required, pilot operated dome loaded regulators

Documents
1:144 SRB general parts - AXM Paper Space Scale Models.com · 1:144 SRB general parts. LOADED LOADED LOADED LOADED LOADED LOADED LOADED LOADED LOADED LOADED LOADED LOADED LOADED LOADED

1:144 SRB general parts - AXM Paper Space Scale Models.com · 1:144 SRB general parts. LOADED LOADED LOADED LOADED LOADED LOADED LOADED LOADED LOADED LOADED LOADED LOADED LOADED LOADED

Documents
Computational narrative and narrative systems

Computational narrative and narrative systems

Design
SPRING LOADED DEVICES - Jergens · PDF fileSPRING LOADED DEVICES SPRING LOADED DEVICES Spring Loaded Devices Plungers: Plungers, Spring ... Pull Ring Retractable ..... 46 Plungers,

SPRING LOADED DEVICES - Jergens · PDF fileSPRING LOADED DEVICES SPRING LOADED DEVICES Spring Loaded Devices Plungers: Plungers, Spring ... Pull Ring Retractable ..... 46 Plungers,

Documents
Response Analysis of Dynamically Loaded Composite Panelsorbit.dtu.dk/files/5436185/Riber.pdf · Response Analysis of Dynamically Loaded Composite ... of Dynamically Loaded Composite

Response Analysis of Dynamically Loaded Composite Panelsorbit.dtu.dk/files/5436185/Riber.pdf · Response Analysis of Dynamically Loaded Composite ... of Dynamically Loaded Composite

Documents
Highly Loaded Turbines

Highly Loaded Turbines

Documents
Dwc fully loaded

Dwc fully loaded

Health & Medicine
Narrative Writing: Personal Narrative Unit Introduction · Grade 4 Writing Personal Narrative PN - 1 DRAFT - August 2009 PORTLAND PUBLIC SCHOOLS Narrative Writing: Personal Narrative

Narrative Writing: Personal Narrative Unit Introduction · Grade 4 Writing Personal Narrative PN - 1 DRAFT - August 2009 PORTLAND PUBLIC SCHOOLS Narrative Writing: Personal Narrative

Documents
FINAL NARRATIVE REPORT - CARE Österreich...Vlasenica on strengthening existing relationships with local/international development institutions, banks and employment services (A.1.2

FINAL NARRATIVE REPORT - CARE Österreich...Vlasenica on strengthening existing relationships with local/international development institutions, banks and employment services (A.1.2

Documents
Bases Loaded

Bases Loaded

Documents
Your primary literacy resource.€¦ · Report Narrative Report Narrative Report Narrative Report Narrative Recount Narrative 4 Report NarrativeExplanation Report Narrative Procedure

Your primary literacy resource.€¦ · Report Narrative Report Narrative Report Narrative Report Narrative Recount Narrative 4 Report NarrativeExplanation Report Narrative Procedure

Documents
THERMO-MECHANICAL ANALYSES OF DYNAMICALLY LOADED RUBBER ... · PDF filethermo-mechanical analyses of dynamically loaded rubber ... thermo-mechanical analyses of dynamically loaded

THERMO-MECHANICAL ANALYSES OF DYNAMICALLY LOADED RUBBER ... · PDF filethermo-mechanical analyses of dynamically loaded rubber ... thermo-mechanical analyses of dynamically loaded

Documents
2019 Results - Intesa Sanpaolo Group...(4) Calculated as the difference between the pro-forma Fully Loaded CET1 Ratio vs requirements SREP + Combined Buffer; only top European banks

2019 Results - Intesa Sanpaolo Group...(4) Calculated as the difference between the pro-forma Fully Loaded CET1 Ratio vs requirements SREP + Combined Buffer; only top European banks

Documents
Suction Caissons & Vertically Loaded Anchors: Design Analysis … · 2016-11-14 · Suction Caissons & Vertically Loaded Anchors: ... Suction Caissons & Vertically Loaded Anchors:

Suction Caissons & Vertically Loaded Anchors: Design Analysis … · 2016-11-14 · Suction Caissons & Vertically Loaded Anchors: ... Suction Caissons & Vertically Loaded Anchors:

Documents
LOADED - Leroy's

LOADED - Leroy's

Documents
Get Loaded!

Get Loaded!

Documents
Longboard loaded

Longboard loaded

Documents
Blast Loaded Plates

Blast Loaded Plates

Documents
FOAcares - FAH Corporate Site...Local food banks, soup kitchens, and school-based child feeding and nutrition programs that provide hunger relief. ... (Program Narrative). Applicants

FOAcares - FAH Corporate Site...Local food banks, soup kitchens, and school-based child feeding and nutrition programs that provide hunger relief. ... (Program Narrative). Applicants

Documents
Capital Accounts and Dividends - United States … Comptroller of the Currency Administrator of National Banks Capital Accounts and Dividends Comptroller’s Handbook Narrative - August

Capital Accounts and Dividends - United States … Comptroller of the Currency Administrator of National Banks Capital Accounts and Dividends Comptroller’s Handbook Narrative - August

Documents
What kinds of banks? Government banks Development banks Foreign-owned banks Cooperative/mutual banks “Southern” banks

What kinds of banks? Government banks Development banks Foreign-owned banks Cooperative/mutual banks “Southern” banks

Documents