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North Campus Apartments RFQ Developer Meeting & Site Walk April 10, 2002

North Campus Apartments RFQ Developer Meeting & Site Walk April 10, 2002. Sign-In Presentations Introduction Overview of Campus Growth / Plans / Site Student Housing Overview Design Content Process Summary and Requirements Questions & Answers Site Walk. Agenda. INTRODUCTION.

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North Campus Apartments RFQ Developer Meeting & Site Walk April 10, 2002

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  1. North Campus Apartments RFQ Developer Meeting & Site WalkApril 10, 2002

  2. Sign-In Presentations Introduction Overview of Campus Growth / Plans / Site Student Housing Overview Design Content Process Summary and Requirements Questions & Answers Site Walk Agenda

  3. INTRODUCTION

  4. Project Goals • Development, Ownership and Management of 900 to 1,400 Apartment Beds on Ground Leased Land • Rental Rates Comparable to Campus Apartments • Delivery by September 1, 2005 • Architecturally Appealing

  5. Project Goals • High Quality Construction • First Class Maintenance and Operation • Experienced Property Management • Ground Rent

  6. Review Criteria • Understanding of Project Goals • Prior Experience of Development Team • Financial Capacity of Developer • Qualifications of Architect • Preliminary Ownership Structure and Financing Plan • Preliminary Schedule • Preliminary Pro Formas Including Ground Rent

  7. OVERVIEW OF CAMPUS GROWTH / PLANS / SITE

  8. UCSD’S 1,200 Acres Include TORREY PINES CENTER WEST CAMPUS BLACKHORSE FARMS EAST CAMPUS SCRIPPS COASTAL RESERVE SCRIPPS INSTITUTION OF OCEANOGRAPHY LA JOLLA DEL SOL

  9. UC General Campus Enrollments (FTE) 2001-02 & 2010-11 Levels

  10. UCSD General Campus Enrollments (FTE) Annual Average Increments Enrollments Decade

  11. 2,908,000 ASF

  12. 5,995,000 ASF

  13. 11,890,000 ASF

  14. 1989 UCSD Long Range Development Plan

  15. Environmental Review • Developer Responsible for Preparing a CEQA Document in Coordination with UCSD • Typical Issues • Traffic • Parking Noise • Visual Quality • Land Use Compatibility • Hydrology • Air Quality • CEQA Document Produced by Consultants Prequalified by UCSD • CEQA Document Certified by UC Regents

  16. UCSD Master Plan Neighborhoods PROJECT SITE

  17. Proposed North Campus Ground Lease Housing Site

  18. STUDENT HOUSING OVERVIEW

  19. Campus Housing

  20. Future site North Campus Housing Future site Roosevelt College Marshall Future site Marshall Apts Warren Future site Muir Apts Grad Apts Muir Sixth Future site Sixth College Residence Halls Mesa Future site Revelle Apts Revelle CoastApts Future site East Campus Housing La Jolla Del Sol Future site School of Med Housing Housing Development Ocean I-5

  21. Scheduled to open Fall 2003 $106 million to build 1,240 bed spaces Eleanor Roosevelt College

  22. DESIGN CONTENT

  23. Design and Architectural Context • Recognition of the Importance of High Quality Design • Adjacent Facilities Will be Architecturally Significant • Looking for Architects That Represent a High Degree of Design Creativity • Don’t Want a Facility That Looks Like it Belongs to the Golden Triangle/UTC Area

  24. Architect Approval Process • Developer to Submit Architect(s) Qualification Information • UCSD Design Review Board (DRB) Will Screen and Approve/Disapprove Developer’s Architect • Developer May Submit More Than One Architectural Firm For Consideration • If Architect is Disapproved, Developer Has ONE Subsequent Opportunity to Submit Another Firm For Review/Approval

  25. PROCESSSUMMARY & REQUIREMENTS

  26. Ground Lease • Compatible With Housing Goals • Affordability • Initial and Long Term • Tailor Housing to Market • Long-Term Vision • Conservative Replacement Reserve • Long-Term Ownership/Asset Management Focus

  27. Attributes for Ground Lease Housing • Experience Owning and Operating Apartment-Style Moderate Income Housing • Long-Term Ownership/Management Focus • Property Management Experience • Experience Designing and Constructing Apartments

  28. University Return on Land From Ground Lease • Ground Lease Payments as a % of Land Value Escalated Over Time • Prepayment of Present Value of Projected Lease Payments • Programmatic Benefits Such as Below Market Rents • Share of Net Income Applicable to Debt Service or New Student Housing Initiatives

  29. Leveraging Land to ObtainProgrammatic Benefits • Below Market Rent • Ground Rent Reduced to Subsidize Rents to Residents • Rents Analyzed Against “Comparable” Market Projects • Rent Increase Subject to Limitation or Periodically Reset in Proportion to Comparable Market Rents

  30. Possible Development Team Structure • For-Profit Student Housing Developer • Non-profit Developer (501c3) • Architect and Design Consultants • Finance Team • Underwriter and Bond Counsel • Property Manager • May be Non-Profit Developer

  31. Project Finance Team • Project Team • For-Profit Developer • Non-Profit Owner/Manager • Investment Banker • Finance Team • Non-Profit Owner/Manager • Investment Banker • THE UNIVERSITY IS NOT PARTY TO FINANCING

  32. Completed Matrix Graphic Materials from Architects Management Materials Financial Statements Preliminary Project Pro Formas Preliminary Project Schedule What We Need From You

  33. Submittals Due May 15, 2002 at 4:30 pm 10 Copies of Submittal 1 Electronic Copy of Matrix http://www.hds.ucsd.edu/projects/nc/

  34. QUESTIONS &ANSWERS

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