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City of Carrollton Transit Oriented Development January 5, 2008

City of Carrollton Transit Oriented Development January 5, 2008. Peter J. Braster TOD Manager. Agenda. Carrollton’s DART Stations Doing the Homework Importance of a Catalyst Project High Street Project. Peter J. Braster TOD Manager. DART Green Line. DART System Map.

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City of Carrollton Transit Oriented Development January 5, 2008

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  1. City of CarrolltonTransit Oriented DevelopmentJanuary 5, 2008 Peter J. Braster TOD Manager

  2. Agenda Carrollton’s DART Stations Doing the Homework Importance of a Catalyst Project High Street Project Peter J. Braster TOD Manager

  3. DART Green Line

  4. DART System Map

  5. Downtown Station By 2030 Crosstown Platform Frisco Platform DART LRT Station

  6. Belt Line

  7. Transit Hall North/South Elevations

  8. Station Complex Concept

  9. Doing our Homework Completed TOD Initiatives: • Tax Increment Reinvestment Zone • Transit Center Zoning • Renaissance Plan Update • Station Master Plan • Infrastructure Study • Transportation Study • Parking Study • Drainage Study • Land Acquisition • Incentive Program

  10. Importance of a Catalyst Project

  11. What Defines a Catalyst Project? Stimulates an area immediately and over time Spurs redevelopment / revitalization Leverages community resources and benefits Neighborhood renewal & community vision Brings new residential and retail investment into a community Qualities not much different from suburban catalysts But with much better transit and parking

  12. Catalytic Qualities: Lays a foundation Establishes connectivity and linkage Jumpstarts revitalization Activates other uses Attracts more spending / new businesses Creates interest and excitement Dynamic involvement

  13. Catalyst Drivers: Important to establish residential first “Rooftops before retail” Achieve initial critical mass More density over time reinforces catalyst drivers Public support – key for “groundbreaking” projects Broad-based support needed to continue momentum Public (City) Private (Developers) Community/ Citizens Business

  14. Catalyst TOD Project Life Cycle Integrated w/ transit areas, parks, plazas, open/green space, civic facilities & shared parking Residential base, some retail Retail, office, more support residential More office, retail, hotel, entertainment

  15. Value Proposition - $$$ Across America, TODs have significantly greater value than property not close to transit Increased property tax values Increased sales tax values Increased foot traffic for local businesses = more $$$ “Ripple-effect” – each dollar goes further

  16. Value Proposition – Other Benefits Catalytic potential not just limited to $$$ Rich mix of housing, jobs, shopping and recreational choices Reduces transportation expenditures Safer, cleaner neighborhoods Conserves fuel consumption, reduces emissions Reduces traffic congestion Encourages every price point to live around transit

  17. The Basis for Investment in TODs From the Perspective of the Public Partner: Jumpstart an area with a catalyst project Generate tax revenue from development of TODs Ripple-effect of spending & value multipliers Time value of investment From the Perspective of the Private Partner: Receive premium rental rates over time Increase density of development / capture additional demand Increase retail sales from transit riders

  18. Downtown Carrollton Station Breathes life into Downtown Carrollton (“bodies bring retail”) Attracts corporate attention Key connection between Downtown and Belt Line gateway Once built, easier to finance more subsequent development Mixed-uses attracts wealthier households Escalating real estate values Upscale conversions Rising rents, but still “affordable”

  19. Downtown Master Plan – 2025 STATION SQUARE

  20. Land Use Plan PHASE 1 2010 - 2015 STATION SQUARE

  21. Master Plan – Phase 1 Area

  22. Master Plan – Phase 1 STATION SQUARE

  23. STATION SQUARE

  24. Master Developer • Downtown Carrollton: • 295 Class A Apartments • 15,550 sf shopping/flex Retail • 252,000 sf in 4 Buildings • Parking Garage: 5 levels, 460 spaces which includes 125 municipal spaces • Overall Development Budget: $44,700,000

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