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University Village


Henry Edgar

on 4 November 2011

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Transcript of University Village

Population Analysis
Mortgage Affordability Analysis
Tenant Analysis Population Analysis Average from 4 cities: 637,053
14,333 new residents yearly
5% of city population resides within university grounds
717 people moving to UT next year
Space for 220 residents Mortgage Affordability Analysis First Time Home Buyers
Dual Household income roughly $150,000 per year
Purchase Power: Approximately $ 550,000
Average 1 and 2 -bedroom Condo Price: $ 360,000 Tenant Highlights Brewsters Bar and Grill and Calhoun’s
Earls Restaurant (Vancouver’s Best Restaurant Chain 2009)
Tenant Synergy is ideal for market demographics Condominium
130 units
195 parking stalls - 141 below grade, 54 grade level
Eleven diverse tenants
148 below grade parking stalls
Health & wellness, serving the university campus
Regional and national law firms
58 below grade parking stalls LEED Gold Certified Achieved City Developer Bonus
Alternative Transportation
Optimized energy performance
Daylight & views Size Allocations Parking Total: 401 Parking Stalls
347 below grade, 54 grade level
2 levels below grade Agenda Concept
Proposed Uses
Tenant Mix
Market Analysis
Financial Analysis
Exit Strategy
Recommendation Financial Analysis Accessible Target Market

The Concept Sells

High Return

Location Location Location! Recommendation Questions? Why Invest? The Pacific Development Group Welcomes you to The Meridian Integrated within the community
Synergy within the development
Harmony with the environment
Creating a space worth living in Exit Strategy Market Analysis Proposed Uses The Concept Traffic Count 42,000 Cars Per Day
Utilize the parking lot for retail shopping
3 miles from major highway Hotel? Is there a market for it? (only athletic events and small business conferences)
More of a market for condos
We want permanent residents Total Residential: 209,088 SF - 60% of GBA
Total Commercial: 139,392 SF - 40% of GBA
Site Coverage Ratio - 58.31% Additional Site Details What if we lose potential office tenants? We have low prices
We have retail nearby
We have a green space
We created a space worth living in Potential Questions Total Construction Costs = 70.93 million
Green Futureproofing Go or No Go?
Conservative Estimates
Developer not investor Before Tax CAP A = $6,728,208
After Tax CAP A = $5,396,089 Developer Before Tax IRR =34.53%
After Tax IRR = 28% OfOf Dentist Day Care Doctors
Office Golds
Gym Office
Block Tesco
Grocery Brewsters Bar
and Grill RBC Max Calhoons Earls Restaurant Sushi Starbucks BJ Financing Structure Construction Loan = $53,200,735
Mezzanine Loan = $16,843,845
Permanent Financing Loan = $ 23, 872,691
Timing is crucial.... Returns Construction Acquisition = $5 Million
Residual = $6.2 Million
Implication Impact Fees... new slide
Full transcript