PRACTICAL APPROACHES TO POSITIVE CHANGE IN COMMERCIAL DISTRICTSCase Study: Hartwell Ave. in Lexington, MA

Presenters

Thomas RagnoPrincipal & Founder, King Street Properties 22-years experience in real estateEstablished King Street's record in engineering, construction, permitting, development and asset management expertise

Maryann McCall TaylorPlanning Director, Town of Lexington25-years experience MA planning and land use

Melisa TintocalisEconomic Development Director, Town of Lexington15-years experience in land use and economic development policies and programs in various municipalities in CA, MA and MI

Overview• Setting Context • Roadblocks • New Regulatory Tools • Developer Considerations• Don’t Just Sit There, Show The Love (And Negotiate)• Questions & Discussion on your road blocks

Lexington in Southern New England

Lexington in Metro Boston

Town’s Zoning Map

Hartwell Ave. Area

Hartwell Avenue Area

Area vacancy rates high: 25-28%Source: Costar Property; includes direct& sublet vacancies

Roadblocks

1. Perception Change• Desire to better distribute commercial & residential

property tax• Don’t want more commercial but “better”• “Better” = high value, low impact

2. Low FAR

3. The “Transportation Trip Wire”

4. Perceived traffic issues

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Hartwell Properties

FA

R

FAR

From the Lexington Comprehensive Plan (2002)

• The non-residential share of assessed valuations had fallen to less than 13%; in the 1980’s it was 22%

• A key aspect of the town’s approach should be to recognize the value of the high demand for business location in Lexington, and to work with that demand to help achieve the goals articulated, including “Better, not bigger.”

Vision 2020 Task Force looked at:

• whether Lexington's reliance on residential property taxes for town and school services should be balanced by more growth in commercial property and businesses;

• the tradeoffs associated with various commercial-development choices vs. the affordability of current and expected public services;

• the structure of Lexington’s complex regulatory and advisory system bearing on development decisions

The Cecil Group’s Study

• Offered objective data

• Helped make the fiscal argument for addition FAR

New Regulatory Tools

1. Increase in the FAR

2. Transportation Demand Management Overly

3. Transportation Demand Management Plan• Developer fee per sf into a fund• Town Commitment • State and Federal Funds

TMO District

• Planning Board adopts district-wide transportation plan

• Developer complies with parking and TDM requirements

• Town implements infrastructure improvements

Infrastructure Improvements

Developers Considerations: Why Lexington?

• Favorable life science zoning• Intelligent work force/access to

Cambridge• Experienced/forward-thinking town

professionals

101 & 113 Harwell Avenue

• New zoning – increased density• Town’s attitude• Minor/major site plan review – speed to

market• Existing life science neighborhood• Infrastructure and building types

Developers Considerations: Why Hartwell?

King Street’s Site Plan for Hartwell

A Vision: 113 Hartwell Ave.

BEFORE AFTER

Hartwell Courtyard Design Images

Don’t Just Sit There, Show The Love!

1. Think like a BID

2. Organize the property owners

• Develop relationships• Set up monthly

meetings • Include elected officials• Identify common issues

3. Agree on short-term objectives that can be accomplished

4. Just do it!

Negotiate

Bus Shelter Provided by BIDC

Gateway Signage ProposedTown Funds Sidewalk

Leverage TIF for MassWorks

Contributions by Property Owners for JARC

Pilot Commuter Shuttle/JARC Grant

Food Truck Rodeo Hartwell Area Shuttle LaunchAug. 28, 2013500+ lunch goers

Public-Private Partnership Tools• Use Tax Increment Financing Strategically

• UniQure• Proactive about the type of business we want in the area• Supported approximately $5million of new assessed value over

time• Creating a critical mass of the type of industry we want

Questions & Discussion

What are some of your roadblocks?