SANITAS SQUARE. For wherever life takes you. BCH REDEVELOPMENT. Kelsey Blaho Kevin Carder Cayla Cothron Laurie Tabachnick

Transcription

1 SANITAS SQUARE. For wherever life takes you. BCH REDEVELOPMENT Kelsey Blaho Kevin Carder Cayla Cothron Laurie Tabachnick

2 Boulder Community Hospital 4 Plan 8.8 acres Medical Pavilion Brenton Building 5 Models Credit Union/ Parking Garage Vacant land Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

3 Existing Buildings BCH BCH 4 Plan Medical Pavilion 5 Models Brenton Building Garage Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

4 + Residential Affordable Senior Housing - Assisted Living - Independent Living Mixed age & income 58% + Office City offices 4 Plan Medical use 5 Models + Retail 5% 37% + Institutional Daycare facility 1% Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

5 Rationale + 1 Location & neighborhood quality of life 4 Plan Why did we identify this site as an ideal site for senior living? Need for affordable senior housing in area 5 Models 3 Continued medical legacy & community support Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

6 Amenities 10 min. walk Boulder Medical Center Rationale 1 Ideal Market Shops location & neighborhood quality of life 4 Plan Legend 5 Models! Bank! Cafe! Restaurant! Salon North Boulder Park! Church! Events Center! Grocery! Laundromat! Pharmacy! Yoga Studio G U Medical Center Bus Stop Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

7 4 Plan 5 Models There s an enormous demand for new [senior] apartments in this [low-income] price range. Most of the affordable senior housing inventory in Boulder is 30 to 40 years old, and most don t serve seniors earning 50 to 0% of area median income. Betsey Martens, Executive Director, Boulder Housing, 013 older resident households in Boulder County Low income household 1% Not low income household 84% % of older resident households in Boulder County have a combined income of less than $49,999. Rationale Need for affordable senior housing in area 7% of older residents in Boulder County reported having issues finding housing suited to their needs. Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick Source: CASOA, Boulder County, November 14

8 Sunrise of Boulder Brookdale North Boulder $,490-$3,795/month Rationale 4 Plan Brookdale Boulder Creek $3,750-$5,500/month The Carillon at Boulder Creek $4,080+/month (IL) $4,5/month (AL) Need for affordable senior housing in area 5 Models Senior Housing mi. buffer Golden West $870-$1,05/month (IL) $3,95/month (AL) Flatirons Terrace at Golden West $3,300-$4,500/month Assisted Living (AL) Independent Living (IL) Assisted + Independent Living 10 min. walk to amenities Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

9 Case study High Mar Senior Apartments, Boulder Built in 013, it was the city s first new affordable senior housing community in more than 30 years. Rationale 4 Plan Age of residents: + Targets population earning $5,000-$44,000/year Rent: starts at $500 # of units: 59 Need for affordable senior housing in area, cont. 5 Models Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

10 Rationale 3 Continued medical legacy & community support 4 Plan 5 Models Since being converted from a house to a hospital in 190, this site has been used for medical purposes. Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

11 Plan Base 4 Plan 5 Models Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

12 Plan Connections 4 Plan 5 Models Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

13 10 th Street Crosssection Connections 4 Plan 5 Models Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

14 Plan Amenities 4 Plan 5 Models Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

15 Plan Land use 4 Plan 5 Models Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

16 Plan Parking 4 Plan 5 Models Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

17 Models NW Townhomes 4 Plan 5 Models Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

18 Models N Central Apartments 4 Plan 5 Models Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

19 Models Assisted Living 4 Plan 5 Models Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

20 Models S Central Office & Townhomes 4 Plan 5 Models Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

21 Models SE Office SE Office 4 Plan 5 Models Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

22 Models Pedestrian path 4 Plan 5 Models Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

23 4 Plan 5 Models Use Unit type Size (s.f.) Amount Total s.f. Sale $ per s.f. Unit for sale price Residential Monthly rental (wo price (10 yr holding Construct. + soft land) $ per period) $ per s.f. s.f. Independent/Non-Senior Studio apartment ,750 $ 350 $ 1,500 $ 1,00.83 $ 10 $ 10 $ 80,000 Total revenue Studio apartment (afford.) 350 7,450 $ 150 $ 5,500 $ $ $ - 1-bedroom apartment ,400 $ 350 $ 10,000 $ 1, $ 10 $ 10 $,304,000 1-bedroom apartment (afford.) ,00 $ 150 $ 90,000 $ $ $ - -bedroom apartment 1, ,000 $ 350 $ 350,000 $,91.7 $ 10 $ 10 $ 1,70,000 -bedroom apartment (afford.) 1, ,000 $ 150 $ 150,000 $ 1,50.00 $ $ - Assisted Living Studio apartment (afford.) ,000 $ 150 $ 0,000 $ $ $ - 1-bedroom apartment (afford.) ,500 $ 150 $ 75,000 $ 5.00 $ $ - Rowhouses -bedroom rowhouse 1, ,000 $ 450 $ 540,000 $ 4, $ 10 $ 90 $ 10,440,000 -bedroom + den rowhouse 1, ,90 $ 500 $ 40,000 $ 5, $ 15 $ bedroom rowhouse (prem.) 1, ,400 $ 550 $ 880,000 $ 7, $ 170 $ 380 $ 5,47,000 Subtotal 98 01,00 $ 0,5,000 Office Small office ,900 $ $ 10 $ 90 $ 351,000 Medium office suite ,383 $ $ 10 $ 170 $,955,11 Large office over 000,933 $ $ 0 $ 30 $ 5,74,59 Medical Pavilion/City Offices* 4, ,000 $ $ 0 $ 48 $ 15,87,000 Brenton Building* 1,53 1 1,53 $ $ 150 $ 300 $,459,00 Subtotal 19,749 $ 30,91,40 Retail Ground floor retail 1,358-1,358 $ $ 10 $ 10 $ 1,48,90 Restaurants / cafes 4,35-4,35 $ $ 10 $ 140 $ 05,500 Subtotal 1,83 $,088,40 Institutional Daycare,000 1,000 $ $ 10 $ 10 $40,000 Subtotal,000 $ 40,000 Parking Parking Structure* 407 spaces 45, $ 5,000 - $,105,000 Subtotal 45,000 $,105,000 REVENUE TOTAL 394,45 $ 59,01,880 Demolition BCH Main Building 95,000-95, $ 15 $ (4,45,000) Subtotal 95,000 $ (4,45,000) Land Cost BCH Facility 43, - 43, - $ 50,00, $ (50,00,000) Subtotal 43, $ (50,00,000) NET REVENUE $ 4,57,880 Kelsey Blaho, Kevin Carder, Cayla Cothron, Laurie Tabachnick 015 November 14

24 Thank you!