addison corridor presentation
TRANSCRIPT
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A STRATEGIC PLAN FOR THE
ADDISONCORRIDOR
A plan to guide job-generatingbusinesses uses and publicinfrastructure investment
Competitive
InnovativeSustainable
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Agenda
1. Introduction of Project + Project Team
2. Project Update
3. Economic Development Opportunities
4. Physical Conditions + Opportunities
5. Implementation Plan
6. Brief Q+A
7. BREAKOUT SESSIONS
8. Reassemble for Group reports
9. Next Steps
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1. Project Team
EconomicDevelopmentPlan
PhysicalMasterPlan
ImplementationPlanSBFCoSector AnalysisMarket Assessment
Funding Strategies
DLKProject ManagementCommunity Interaction
CCSEstimatingPhasing
IEIUtilitiesInfrastructure
TranSystemsTransportationTraffic + Parking
GINKGOLand UseUrban Design
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2. Project Update
A M J J A S O N
Steering Committee Meetings 1 2 3 4 - 5 6
ECONOMIC DEVELOPMENT PLAN
PHYSICAL MASTER PLAN
IMPLEMENTATION PLAN
Community Workshops 1 2 3
Plan Adoption
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Community Input
LISTEN
Workshop 1
RESPOND
Workshop 2
ENGAGEWorkshop 3
What could be? Committees
Civic Groups
Residents
Businesses
Property OwnersEmployers
Employees
Developers
Agencies
What should be?
What will be?
B
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Issues:
Land Use Conflicts
Property Expectations
Schools Overcrowding
Parking
River + Park Access
Business Retention
Business Expansion
Business Attraction
Addison
Belmont
IrvingPark
Berteau
BellePlaine
Byron
Grace
Waveland
Cornelia
Roscoe
School
George
California
Western
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3. ECONOMIC DEVELOPMENT PLAN
A world-class urban business
campus
A globally-competitive
agglomeration of industries
A center for cutting-edge
industries
Job creation + diversity of payranges
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Analysis of Economic Development Potential
Assess opportunities and constraints
Identify target industry sectors
Review industrial real estate trends in Chicago
Assess future redevelopment potential of Corridor
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IrvingPark
Addison
Belmont
Diversey
GreenExchange
RoscoeVillage
Study Area Context Map
LocatedinN.SideofChicago
W\n3miles
of
4interchanges
Withina5mileradius: Over43,000businesses 1.3millionpeople
ProximitytoGreenExchange
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Key Businesses
2
3
4
5
ID Companies Sector Name
Sector SalesVolume inCorridor
Number ofEmployeesin Sector
1 Hu-FriedyMedical Equip.Manufacturing
$128,800,000 385
2 WGN Broadcasting $100,750,000 250
3WMSGaming
Comp. &Electronic Mfg.
$92,050,000 467
4TampicoBeverages
Bev. &TobaccoManufacturing
$63,300,000 75
5 CenveoPrinting &RelatedSupport
$49,250,000 308
6 ComEdElectric Power
Generation
N/A 660
3
1
4
6
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Opportunities + Constraints
Opportunities: Strong + growing business anchors Access to a strong + diverse labor market
Concentration of people + businesses Proximity to Green Exchange Proximity to transit for employees Good access to regional transportation network
Potential linkage to Roscoe Village neighborhoodConstraints: High taxes Functional obsolescence of industrial inventory
Mismatch of expansion needs + available space Mismatch of parking needs + available space Land use conflicts with neighboring residential uses Pressures for conversion to residential uses
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Industrial Corridors + Sectors
Professional&ScientificServices ComputerandElectronicProductManufacturing MetalManufacturing FoodManufacturing Wholesale
Trade
FoodManufacturing Metal
Manufacturing WholesaleTrade
TransportationEquipmentManufacturing
MiscellaneousManufacturing
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Top Industries + Viability in CorridorBased on Shift Share Analysis for Chicago Region by WBC
Viability in AIC
WBC Focus Industries in Chicago Region Low Medium High
1 Building Finishing Contractors
2 Food Manufacturing & Services
3 Specialized Chemicals Manufacturing
4 Metals & Machinery Manufacturing
5Electrical Equipment & ComponentManufacturing
6 Other Specialized Manufacturing
7 Transportation & Warehousing
8 Computer Systems Design & Related Services
9 Scientific, Technical, & Professional Services
10 Waste Management & Remediation
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Green Industries: U.S. vs. ChicagoWBCAnalysis
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Demand Drivers for Green Industries
Federal Stimulus Renewable Energy Research and Development Green Construction
Energy-Efficient Improvements to Federal Buildings Tax Credits for Energy-Efficient Improvements to Homes/Businesses
Other Federal Programs Energy Star
Environmentally Preferable Purchasing (EPP) State Initiatives
Utility Rebate Programs Renewable/Efficient Energy Grant Programs
City Initiatives: Chicago Sustainable Development Policy Green Permit Program Chicago Climate Action Plan
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Current Leasing InterestBased on Broker and Developer Interviews
Business Inquiries:
Office/flex/warehouse users: 5,000-35,000 SF
Green building material manufacturers: 2,500-30,000 SF Movie production: 36,000 SF
Video game developer: 8,500 SF
Other Potential Businesses:
Consumer-oriented services (e.g. caterers and florist
wholesalers): 15,000 SF Back office users: 20,000+ SF
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Target Business Sectors for Addison
High-Tech
Computer Systems Design & Related Services
Scientific, Technical, & Professional Services
Electrical Equipment & Component ManufacturingGreen
Generation (Component manufacturing)
Construction (Green materials, components and methods) Scientific, Technical, & Professional Services
B-to-B /B-to-C
Wholesale
Building Finishing Contractors
Legacy
Reinforce strong existing businesses in other sectors
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Industrial Space Analysis
Comparison of Chicago and Seven-County Region:
Chicago RegionChicagos
Share
Occupied Industrial Space, 2009 108,698,607 967,994,342 11%
Average Annual Absorption, 1999-2009
(749,887) 6,398,976 N/A
Net New Industrial Space, 1999-2009 (1,317,766) 120,768,408 N/A
Source:CostarandS.B.Friedman&Company.
Berteau
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HighVacancy
&
FunctionalObsolescence
HighVacancyand/orOlderBuildingStock
LandUseConflicts
ExpandingBusinesses
ExpandingBusinesses Majority
of
space
is
Class
C Keyzonesinstudyareawith: Highervacancy Obsoletestructures
Landuse
conflicts
Real Estate Summary
Addison
Belmont
IrvingPark
Belle
Plaine
Byron
Grace
Waveland
Cornelia
Roscoe
School
Wellington
Californ
ia
Wester
n
HighVacancyand/orOlderBuildingStock
George
R l E t t St t i
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Real Estate Strategies:
Attracting New Businesses
Shovel-ready sites for built-to-suit users + multi-tenant developers
25-50 contiguous developable acres
New Class A facilities
Utility + telecom infrastructure
Attractive + compatible surrounding uses
Business Park identity (signage, gateway features and landscaping)
Amenities (green space, walking paths, retail and service)
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Case Study:Brooklyn Navy Yard, New York, NY
City Involvement + Financing: Owned by City and managed by
non-profit Brooklyn YardDevelopment Corporation
City funding for capitalexpenditures: $130 million
Private funding: $1.5 billion
Tax-exempt bonds forinfrastructure
Key features: Preservation of existing industries
and encouragement of new
industries Dynamic mix of different
businesses
All new buildings will achieveLEED Silver ratingsSizeandProgram:
300acresintotal
92acres
of
leasable
building
area
Mixofindustrial,retail,andfilm/media
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Case Study:Menomonee Valley Industrial Center, Milwaukee, WI
City Involvement andFinancing:
Menomonee Valley Partners, a public-private partnership, brings togetherbusiness and property owners, local andstate government, and community leaders
Tax incremental financing and brownfieldsgrants supported land acquisition andinfrastructure investment
Key features: Design of Stormwater Management Areas
(SMA) gives structure to the park, allowsfor a range of landscape types, andprovides cost savings
Site work has corrected environmentalproblems, making it comparable to agreenfield
Goal to create 1.5 jobs/1,000 s.f. ofbuilding area, for 1,290 jobs total
SizeandProgram: 70acresintotal 860,000s.f.ofleasablebuildingarea
Parcelsrange
from
1.5
to
10
acres
Sharedparkingandminimalsetbacks
Berteau
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Development Opportunities
1. NORTHFlex Zone
Establish mixed-use zoning (office,commercial + live-work?) +development guidelines
Urban Business Zone (B-to-B and B-to-C)
Industrial and Flex space
Competitive with modern businessparks (suburban-style amenities andfacilities in urban setting)
2. CENTRALFacilitation of Legacy Business Expansion
Targeted strategies to meet needs ofindividual users
3. SOUTH
High-Tech and Green Business Park Mix of Flex and Office space
High-value, high-amenity Class Aspace
Leverage riverfront location
HighTech+GreenBusinessPark
UrbanBusinessZone
UrbanBusinessZone
FlexZone???
Addison
Belmont
IrvingPark
BellePlaine
Byron
Grace
Waveland
Cornelia
Roscoe
School
Wellington
George
California
Western
LegacyBusiness
3 PHYSICAL MASTER PLAN:
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3.PHYSICAL MASTER PLAN:
1. Meets physical, programmatic+ functional needs of specificaccess + facility
2. Provides multi-modal mobility
3. Reuses waste products + waterfor green businesses
4. Protects environment
5. Incorporates sustainablestrategies for cost control
TransportationInfrastructureArchitectureLandscape
Urban Design
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T t ti
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Transportation:CDOT Projects
1. Western/Belmont/Clybourn ViaductStudy
2. Irving Park Road over the North Branchof the Chicago River
3. Addison-Campbell Traffic Signal
4. Barry Street, Washtenaw to RockwellStreet
5. Lane Tech HS Safe Routes to SchoolInfrastructure
6. Rockwell Street Alternatives
Transportation:
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Transportation:Existing Campus Transit
1. Served directly by eight CTA bus routes,
including two express bus routes
2. Routes remain on major arterials
3. Route 52 California begins service at busturnaround within campus
T t ti
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Transportation:Existing Transit Services
1. CTA Brown Line and Blue Line are mile away from campus
2. CTA bus routes connect campus withBrown Line and Blue Line stations
3. Metra Union Pacific North + Northwest
Line stations are located a few milesaway
4. Metra UP Northwest Line stationconnected to campus via CTA busroute
Transportation:
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Transportation:Potential Transit Shuttle
1. Potential shuttle service from the Metra UPNorth Line Ravenswood Station and CTABrown Line Paulina Station
2. CTA Blue Line Belmont Station would alsobe served
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Infrastructure:
1. Advanced communications
2. Power generation
3. Stormwater management
4. Water reclamation
5. Waste reduction
6. Byproduct recycling
Architecture:
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Existing Buildings
Varying conditions from poor to good
Some historic buildings of character
Opportunities to relocate \ expand businesses
Architecture:
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Architecture:Opportunities
New, iconic, state-of-the art facilities
Adaptive-reuse of historic buildings
Expansion + update of existing
buildings
Small 2,500-5,000 SF 5-15 cars
Medium 10,000-20,000 SF 25-50 cars
Large 25,000-35,000 SF 60-90 cars
Parking 1 space per 400 SF Shared
Landscape
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p
Conditions
1. Connect ped \ bikeways
2. Address different riveredge conditions
3. Make River central focus
4. Improve streetscapes
L d
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Landscape:Opportunities
Enhance ped \ bike connections
Create upper + at-water levels
Enhance recreational amenities inparks
Orient new buildings to face River
Incorporate green roofs + raingardens
Use durable plant materials
Minimize parking + loading areasalong River
Urban Design
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1. ADDISON NORTH CAMPUS:Flex Space + Business
2 ADDISON CENTRAL CAMPUS:Business to Business
3 ADDISON SOUTH CAMPUS:
Green Tech
Urban Design
ADDISON
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ADDISON
NORTHCAMPUS
Parcels: Total 36 acresapprox.
Maximizing developmentpotential for large buildings
+5.5ACRES
+4.5ACRES
+5.2
ACRES
+4.3ACR
ES
+8.5 ACRES
+8 ACRES
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ADDISON
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ADDISONSOUTH
CAMPUSParcels: Total 36 acresapprox.
Variety of parcelSHAPES and SIZES,from 1 acre to 12 acres
Variety of parcel depthsfrom 110 to 560 approx.
110
560
5. IMPLEMENTATION PLAN
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Capital Investment
Zoning changes to protect priority sites
Land assembly strategy
Creation of shovel-ready sites
Critical capital improvements estimates
Phasing
Public-private financing strategies
HARD COSTS QTY UNITS EST
Land acquisition x $ $
Demolition + Site Prep \Remediation
x $ $
Roads + Streetscapes x $ $
Utilities + Stormwater x $ $
Riverwalk + Landscape x $ $
Signage + Wayfinding x $ $
Parking x $ $
Transit Amenities x $ $
Estimated Total $$$
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