Midterm Follow up Assignment

For Thursday, provide me with a near final draft of Chapter 1 (P1) and Chapter 2 (P2) book, in pdf form, pages not spreads. You may send it to me in whatever convenient way you can. Include on your first page a list of changes to LDC that are required to make your project happen.

Before we leave this behind, we will be attempting to complete the following tasks to perfect these proposals.

1. Troubleshoot the proforma? I am trying to get a visitor to help out with this.
2. Do an affordable/market/commercial mix? Tweak your proforma and see what you get?
3. Map - What if we implement this proposal in Parramore (Deron is pursuing this, engage him in the pursuit)

We will also try to enrich our understanding as well as share our discoveries and proposals with the neighborhood (the owner of the units), and with Bruce from planning (the person who compared these units to similar ones in Miami).

G8 midterm notes

Midterm review 10-30-2014
Critics
Holly Stenger, City of Orlando Planning
Frank Bosworth, Associate Director CityLab

Critics were allowed time to examine projects prior to presentation.

Holly Stenger commented that Bruce at planning has compared the block units to similar ones in Miami Beach. We should schedule a visit from Bruce and the owner of the unit students visited.
Kim King at planning for commercial incentives. Residential incentive?

QTS: Concerning future situation of these projects, What parts of planning do the projects address? Can they be categorized?

Trevor. Commercial incentives?
Micky. Meets traditional city goals without actually confirming to the requirements. Cars and posting are an issue that needs refinement.
Wayne. Removing stair and centralizing the vertical circulation means you can centralized parking and get rid of the posting at each unit. Make them outdoor living rooms and storage for bikes, grills, etc. No facts.
Dre. Great redo of existing units. One wall change. Clever unit types, well thought. Better light and air. Turn it to the inside? No. Develop the other scale of entrance on street side. Porches and kitchen interface with street. Get job.
Lucas. Community space from p1. Shift units to create shared court spaces and roof spaces. Split scale of modular garden idea implement at street, courtyard, roof scape.
Kyle. Singles as target demographic. People renting rooms in other houses. 80 units. Half have parking. Density and type would be a development issue. Expensive. Frank, "these are condos sold to inventors to fund construction without a loan?" What led you to believe that there is a market for co housing? SRO doesn't have a prayer. Driven by marketplace not the idea. 30 people is too many per kitchen. Explore clusters of 4 or 8? Mixed use. Difficult to engineer human behavior. Planning department are exploring du/acre vs far.

Frank Bosworth discussion.
Why does everyone create the repeating courtyard? With entrance off of courtyard? This changes the size and use of the internal courtyard. Can you create more street density and a truly private space on the inside of the block? The prevalent version is somewhat suburban. Reconfigure Dre's plan to push the units out of the courtyard. Parking is a driver in these. Place it on the street?
This tests density of the original grain. Can you work within the existing fabric and increase density without resorting to the current development formula (parking and retail plinth with housing above). Is it worth it?
How did anyone get to the idea that you pursued? You should all try to define this.
What about addressing Westmoreland and Jernigan with housing? You all ended up with a continuation of the original linear site.
Did anyone try a townhouse infill? Spend on a stair instead of entrance balcony.
Code issues with opening adjacency between units (windows, doors).
What about linking them with a common walkway balcony.

Bender.
What do you think is going to happen here? Between Westmoreland and I-4.
Magic Mall and Orlando City. Does it go Thornton Park or what?
Developers are encouraged to an 80/20 affordable mix.
What if we implement our density along side the planned density. Can we prove that our density works from a financial and social perspective?

Lucas. Courtyard was driven by access to light and creation of shade.

Innovation in their professional practice comes from an understanding of the forces of development.

Tasks to perfect these proposals.
Troubleshoot the proforma?
Do an affordable/market/commercial mix?
List changes to LDC that are required to make project happen.
What if we implement this proposal in Parramore (maps of this)

P2 - Pro Forma

Charts

Proforma Graphics

P2 Project Data Representation

Please make effort to develop your spreadsheet to provide you with analysis of your design.
The spreadsheet should help you detente figures toward creating graphical representing of the following.

Total units compared to existing units
(Unit type and distribution, ie. 3/2, 2/2, etc. This can be text)
Total square feet compared to existing square feet
Development cost without incentives (itemized: purchase cost, soft cost, construction cost, site improvement cost)
Cost per unit without incentives
Cost per square foot without inventives
Itemized incentives $ and total
Itemized incentives $ as a percentage of development cost
Cost per unit after incentives
Cost per square foot after incentives
Proposed finance cost/amortization (for rental scheme this would be long term, for resale scheme this would be construction loan)
Proposed rent or sale price compared to allowed (low income, low low income, market rate? )
Projected ROI expressed as a percentage of investment.

Proforma

P2 - Process

Existing Site Conditions

Existing Site Conditions with detail

Historical changes in the site

Aerial photography illustrating changes from 2009 to 2014

P2 Development Proforma

A proforma is a calculation that allows you to test and refine a development strategy. It is short of like a business plan for development. As such it must contain all of the costs and all of the income. By using this information you can make an educated guess about whether a development idea will work. Knowing this make it possible for you to enter ring as a developer. However, since our class is about ground up development it is assumed that you will come with differently rooted proposals with other outcomes.
Row heading in your proforma may include the following (among others).

Hard Costs
Land acquisition
Construction cost - building
Construction cost - site
Cost subtotal

Soft Costs
Developer overhead
Design fees
Engineering fees
Real estate fees
Financing costs
Subtotal

Capital
Owner equity (11 or more percent typically)
Incentives
Loans

ROI
Profit (10 percent minimum)

Mor later.

G8 Midterm is Around the Corner

It is important that each of you be able to talk about the existing conditions of the block in a knowledgeable way. Therefore, you must perform the spreadsheet inventory/analysis of the existing condition; the capacity estimate. I want to see and hear proposals Thursday. Keep working through different versions. Be in conversation with each other about them.

Midterm Deliverables (subject to adjustment):

1. Existing Program Capacity Estimate (spreadsheet)
2. Proposal Calculations and Proforma. This includes possible funding sources.(spreadsheet)
3. Provide a list of possible funding sources and basic details affecting there use in the project. (text) These are in the docs I put in dropbox for you. Use them. 
4. Proposal for property ownership (text). This is as much a social proposal as a development one.
5. Brief Context Investigation and other materials such as precedent or similar work that helps convey your concept (images, sketches)
6. Cull out the best of your model explorations and name them. I want you to be able to present options with thoughtfulness.
7. Prepare a plan set of one of the proposals (Site Plan, Floor Plans, Elevations, Sections. Get to the point where the proposal has some detail, scale and materiality. This should be a "rendered" set. Use tone, texture, photo materials, etc.

Your Existing Conditions Documentation (location plan, site plan, typical floor plans, elevations, sections) will form the basis for the presentation of your project. Use these drawings to create the relationships necessary to convey your proposal. To distinguish existing from proposed, make existing gray-line, proposed black-line.

Also, please read through this post again.

This page is a cheat sheet for incentives. These should appear in your Proforma.

P2 Introduction - Keep It Real

Keep it real.
Housing study in Parramore.
You are a benevolent developer. Someone who is interested in making the world a better place. I've heard it all before. You are interested in improving the living conditions of people of low or very low income. In order to make this happen you will solicit private funding but you also must maximize the potential grants and other assistance that is available.
The housing stock in Parramore varies but it is primary composed of wood frame single family bungalows from the turn of the century and small one and two story concrete block apartment buildings. I am fascinated by these. They are so brutal and so beautiful? Where did this type originate? We will look at a block of these units.

Site
The block defined by Randall, Colver, Jernigan, Westmoreland.

Randall, Colver, Jernigan, Westmoreland

For Monday
Existing Conditions Documentation (location plan, site plan, typical floor plans, elevations, sections)
Existing Program Capacity Estimate (spreadsheet)
Brief Adjacent Investigation
List of possible funding sources and basic details affecting there use in the project.
Proposal for property ownership scheme.
Be prepared to discuss the issues, in preparation for a charrette to follow.

Many of the issues you have been working with in our first project carry over into this one. For the most part you all have concentrated on activity in public space whether this is in actual publicly owned right of way or directly adjacent to it. By taking on the redevelopment of an entire block you will have to consider a variety of public space types. However, by introducing privacy, in the form of homes into this you now have more charged adjacencies.

Words
Community
Neighborhood
Association
Territory
Property
Ownership
Privacy
Presence
Inside/outside
Rules
Responsibilities
Stewardship
Time (cross sectional and longitudinal)
Density
Scale
Health
Safety
Happiness
Pets
Guests
Some of these words have similar meanings but there are meaningful differences.

Issues:
What is the origin of the current condition? What does it tell you about the place?
What other conditions are there in the immediate vicinity of the project? How does your project affect them?
Does the condition of property ownership affect the place? Investigate property ownership using Tax Appraiser website. How do you propose to organize property? What affect does the organization of ownership have on the community, the family, the individual? (Individual owner, Condominium, deed restricted neighborhood, etc).
What part does structure play, flexibility play? What are the limits of each?


Affordable Housing is a Civic Issue 
with a mandate. I will post documents that provide more information about the following programs in our Dropbox share folder.

Below, from City of Orlando Consolidated Plan, Strategic Plan Section.
See especially, 91.215 (b) Affordable Housing Strategy.

B.  Multifamily Rental Housing Rehabilitation
a. Summary of the Strategy: This strategy is designed to address the preservation of the affordable rental housing stock by improving its condition.  The funds may be used for the rehabilitation of multifamily rental projects citywide. Funds awarded under this strategy may also be used as a local contribution by developers participating in the Florida Housing’s Low Income Tax Credit Program or any other Federal, State, or local funding program that targets the rehabilitation of multifamily rental housing projects in the City.

"Promote equitable, affordable housing. Expand location- and energy-efficient housing choices for people of all ages, incomes, races, and ethnicities to increase mobility and lower the combined cost of housing and transportation."

Explore Incentives
The City of Orlando offers the following incentives to developers of affordable housing:
Federal, state or local funds
Capacity reservation set-asides
Reduced development fees
Impact Fee Grants
Density Bonus Program
*Alternative Housing Development Standards (encourage innovation)

The CDBG and HOME programs are formula based, entitlement grants provided by the United States Department of Housing and Urban Development (HUD)

OHA Choice Neighborhoods Grant program

The City of Orlando’s Affordable Housing Assistance Program is intended to increase the availability of affordable residential units. The program coordinates and combines local resources and cost-saving measures into a local housing partnership and uses private and public funds to reduce the cost of housing.

How much money could you expect to acquire from these sources toward your development? This required developing a spreadsheet to test scenarios. (Other parametric modeling methods?)

More Money?
How would you go about soliciting other investment? Syndication? Trusts (REITs)? How does the investor affect the development picture?