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REDI 2012 Group 3

Final Presentation on Findings for Development of 2242 Welton St.
by

Rogelio Rodriguez

on 4 October 2012

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Transcript of REDI 2012 Group 3

REDI Group 3 Development of 2242 & 2460
Welton St Lynn Crist
Dick Taft Aaron Willis Gilberto Vazquez Karla Knapp
Lindsay Delecki Mayra Rosa Rogelio Rodriguez Tari Ensign Sarah Laverty Team Leaders Group #3 Session 1: Introduction (General)
Objective: Provide context for program, project, and community

Takeaway:

• Value of understanding neighborhood context to help shape the project plan.
• Community context informs what is feasible from a market acceptance side,
as well as a neighborhood acceptance side.
• Ignoring either can have significant implications on the success of the project. Session 2 (Group)
Initial team brainstorming session. Reviewed project site details, allowable uses based on zoning code, brainstormed ideas, developed list of due diligence research needed.

Takeaway:
• Valuable experience to hear how individuals with different backgrounds and diverse expertise evaluate the opportunities and constraints of the same project.
• Helpful to be exposed to a number of different approaches and collectively walk through the pros and cons of a wide array of project ideas.
• Helpful to get mentors’ insight on market realities and the nuances of the Denver market as we assessed project concepts. Session 3 (General)
Overview of City development processes, OED, and DURA.

Takeaway:
•Nuts and bolts of planning and development process in
Denver.
•Role of DURA and OED Session 4 (Group)
Small group session to refine project plan. More or less came to consensus on project plan and specific programming elements. Began looking at how to layout desired elements in a way that accommodates parking, meets visitor and tenant needs, conforms to code, and fits into the neighborhood context. Brainstormed potential retail tenants and aesthetics of building.

Takeaway:
•The role of parking and its influence on project design and programming.
•How to interpret zoning code and apply to specific project concept.
•Process of refining project plan:
-Learning more about the pros and cons on apartment versus condo versus affordable housing
-Learning more about retail square footage, viable tenants, and financing implications related to retail. (Need to be credit worthy, most will be underwritten as $0 income, may have different investors / debt providers, value in separating some of the retail building footprint from rest of project.) Session 5
CHFA overview (General)

Takeaway:
•Deep dive on how CHFA works, covering both the nuances of the program and the process.
•The process can, in some ways, have as significant an impact on overall project financing as the funding available through CHFA. Also covered market analysis and
reviewed proforma. (Group)

Takeaway:
•Basic understanding of what elements are crucial to the proforma.
•Helpful to see a version of a basic proforma (every company has their own style and always helpful to see other styles).
•Helpful to see how to set up a simplified proforma to test the model without building out all of the detail. Session 7 (Group)
Deeper dive on the proforma, in particular the impact the maximum allocation can have on the building plan (e.g. it may make sense to reduce or increase number of rooms based on max allocation). Refine building design—does the desired number of units, parking, and retail space actually fit in the building envelope, and how can the space be most efficiently used.

Takeaway:
•The availability of tax credits and the maximum allocation have significant influence over the programming.
•Helpful to take a conceptual plan to the next level of fitting it into an actual building plan. Session 6
Finalize a building concept (Group)

Takeaway:
Evaluated design concept for interior and exterior elements associated with New Orleans style & elements that reflect the character of the neighborhood history.
Started discussion on developing a pro forma based on this design. Rogelio Rodriguez
Vida Real Properties Gilberto Vazquez
Vazquez Home Team
KW Dowtown Karla Knapp
Carapace Homes Lindsay Delecki
Weston Solutions Tari Ensign
B+Y Architects Sarah Laverty
Bio-Logical Capital Lynn Crist
The Morrison Group Dick Taft
Rocky Mountain Communities Aaron Willis
Colorado Department
of Transportation Hong (Sara) Ridley Session 8 (Group)

Preparation for final presentation. CWI Steel Fabrication Mayra Rosa PC
Full transcript