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ULI Advisory Services PanelAmelia Island, FloridaMay 1-6, 2011
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About the Urban Land Institute
• The mission of the Urban Land Institute is to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide.
• ULI is a membership organization with nearly 30,000 members, worldwide representing the spectrum of real estate development, land use planning and financial disciplines, working in private enterprise and public service.
• What the Urban Land Institute does:– Conducts Research – Provides a forum for sharing of best practices– Writes, edits and publishes books and magazines– Organizes and conducts meetings– Directs outreach programs– Conduct Advisory Services Panels
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Advisory Panels
• Since 1947• 15 - 20 panels a year on a variety of
land use subjects• Provides independent, objective candid
advice on important land use and real estate issues
• Process– Review background materials– Receive a sponsor presentation & tour – Conduct stakeholder interviews– Consider data, frame issues and write
recommendations– Make presentation– Produce a final report
ULI Panel
• Frank Martin, Chair• Sandra Kulli• Dan Slone• Jim Heid• Richard Albrecht• Becky Zimmermann• Greg Cory• Mary Borgia• Andrew Irvine
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Sponsors
• Amelia Island Plantation Community Association (AIPCA)
• Amelia Island Equity Club Inc. (AIECI)
• Omni Amelia Island Plantation
• Special Thanks– Kate Ligare– Steven Kaye
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Assignment
• Maximize the potential of Amelia Island Plantation’s extraordinary setting and history
• Expand and clarify its collective vision of what specific opportunities will help increase property values and quality of life
• Examine risks and obstacles that might inhibit the long range plan and negatively impact quality of life
• Strengthen necessary governance processes and structures
• Formalize a road map for key elements and milestones
• Formalize a sustainable and viable financial plan
• Prioritize recommendations and provide timeline for phased approach
• The primary focus of this project is the future of both the residential community and AIPCA’s common properties as well as the integrated community as a whole.
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Amelia Island Plantation
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Inventing Desire
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The Great Good Place
Last Child in the Woods
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6 Values
• Family
• Community
• Security
• Work/Life balance
• Integrity
• Authenticity
Carrying on in Trying Times
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Amelia Island Plantation
• One foot in Memory
• One foot in Prophecy
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Vision
Historic Vision
• AIP shall continuously be a superior resort and residential community, consistent with its founding values, where all stakeholders work cooperatively to achieve that common purpose.
• “I don’t want to see any rooftops…I want to see trees” –Dick Cooper
• ARB– Blend with nature; natural
materials– No historic replications;
contemporary approach– Four sides detailed– Understated elegance
Economic Security
• Market appeal– Environmental integrity– Community
• Deferred maintenance –enforcement
• Architectural controls• Efficient amenities• Security• Maintenance costs• Operational costs
Ecological Integrity
• Landscape• Infiltration• Natural landscape• Reuse water (potential groundwater injection)
• Dark sky• Building and vehicle performance
• Materials• Pedestrians and bikes
Community
• Storytelling• Civil and productive discourse
• Shared places• Volunteers within the community and within the Island community
• Spirit of caring that allows residents to age in place and attracts others to want to be a part of the place
Potential Future
Part of a larger ecosystem
Serenity + Tension
Moving from Company Town to Community
Harnessing talent
Writing the next chapter
Amelia Island Plantation as a Unique Place
• Rich natural + cultural resources
• Deep legacy
• Fernandina as amenity
• Active, accomplished residents
• Omni – in it for more than a flip
Alternative Futures
Continue on current path?
• Divided social structure
• Defer future to Omni
• Stagnant facilities + programs
• Lose market relevance
Alternative Futures
Or….Seize the moment?
• One community
• Coalescing Sense of purpose
• Renewed facilities + products
• Move gracefully into the next
40 years
# 1 – You are not an Island
Amelia Island as an Amenity
# 2 – You Must be One
Access and convenience for all
Social interaction as a lifestyle, not an economic choice
…..Amelia Life
# 3 – Timeless Place, Current Offerings
• Update the products
• Maintain the legacy
# 4 – Ageless soul, New Heart
Create new center of activity
Fitness, wellness, meeting, interaction and social gathering
Update and connect to core of residents
Time
Volum
e
Sea PinesSandestin
EmbryonicTake-off
Growth
Maturity Decline
KiawahSeabrook
Amelia Island ?
Bald Head
Life Cycle of Resort Communities
Turning the Corner
• Areas of Resort Need Updating
• Deferred Maintenance
• Comprehensive maintenance plan– Assess needs
– Prioritize
– Allocate funds
– Reserves for future needs
Turning the Corner
Older Condominiums• Develop an inventory of which
properties can be refurbished economically, and those where it is not economically infeasible
• Association can become a resource to HOA/COAs for minimum community maintenance standards as ARB is refined
• Knowledge of the rules• Offer designs pre‐approved by the ARB• Provide list of professionals• Identify areas where density can be
increased.
Turning the Corner
The Club
• Key Vehicle for Catering to next generations of buyers
• Club and Association can Coexist
• Club and Association must unify community, not divide it
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Turning the Corner
The Club• Demographics
– Next Generation of Buyers Live Differently• Less Time – and spend more time with children• More focused on value ‐ look at entire bundle of costs of vacation home
• Demand more choice and flexibility• Want a club that is more energetic, and with fewer rules
• Club must anticipate needs of next generation
Turning the Corner
• Board of Directors of the Club must change to include differing interests– Board Composition must better represent all of the users
– Revise nomination and election process.
• One club that serves a diverse population– Condominiums from $200,000 to ocean front homes worth many millions
– A broad range of interests and abilities
The Club
• One Resort Community Club – Mandatory Membership
• More tiers of membership offering choice and flexibility
• Inclusive, not exclusive
• Create a transition plan
• Two years – Be patient
• The Community Association
• The Amelia Island Club
• Omni
These three entities create the Partners for Success at the Amelia Island Plantation.
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Partners for Success
VISION provides a roadmap for a community for what they want to become.LEADERSHIP is the navigator of the road that results in achieving the vision.
Partners for Success
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• Give 100 percent
• Have Patience
• Embrace spirit of cooperation
• The future success of Amelia Island Plantation can be achieved by the partners focusing on two key elements: – Enhancing real estate values
– Enhancing quality of life of those who live and visit here.
Number of Second Homes Purchased in US
Source: National Association of Realtors, 2010
Vacation Investment Vacation Investment
2003 12.0% 22.0% 849 15712004 11.0% 25.0% 872 20032005 12.0% 28.0% 1019 23172006 14.0% 22.0% 1067 16462007 12.0% 21.0% 740 13492008 9.0% 21.0% 513 11172009 10.0% 17.0% 553 940
Percent Number (000)
Intent to Purchase Second Home in the Next 12 Months by Type of Product
(Top 10% of American Households)
Source: American Affluence Research Institute 2011
Survey ‐ Prospective Second Home Buyers 2011
• 42% considering a real estate purchase
• 36% Considering a second home, up from 4% in 2010
• 86% considering purchase within two years
• 59% believe the bottom has been felt
Source: Cotton Report, March,2011
Age Wave of the United States
2010 Survey of Existing & Prospective Second Home Buyers
• 24% of prospective buyers plan on purchasing within the next two years
• Gen X represents nearly half of the prospective buyers
• Gen X value children’s programming, friends and family. Privacy and exclusivity are not drivers
• For Gen X a second home is not a vacation home, it is lifestyle purchase evaluated based on intended usage
• Total cost of ownership, including annual fees, are important considerations
Source: Kelsey Norden fall 2010 survey
Sports Participation
2009 ‐ % of Population over Age 7
• Exercise Walking 93.3%• Exercising with Equipment 57.2%• Swimming 50.2%• Bike Riding 38.1%• Hiking 34.0%• Aerobic Exercising 33.1%• Running/Jogging 32.2%• Golf 22.3%• Tennis 10.8%
National Sporting Goods Association, 2010
The Amelia Island Visitor
• +/‐ $300 Million annual economic impact
• +/‐ 4 day average length of stay
• Has made 4.5 visits to Amelia in the last 3 years
• High degree of loyalty: 60% considered only Amelia Island as a destination
• 97% are very satisfied/satisfied with the Visitor experience
• 91% plan on returning
Source: Research Data Services 4th Quarter 2010
Real Estate Value
The Buying Process
• History in the Area
• Online Research
• Discussions with Family and Friends
• Cape Fear River to Daytona Beach Areas, Communities, Product
Amelia Island Plantation Strengths
• The Legacy Story
• Area: Amelia Island
• The Place: Natural Beauty, Tree Canopy, Ocean, Beach, Marsh
• The Amenities: Golf, Tennis, Trails, Social Activities
• Passionate, Happy, Engaged Owners
• Value Adding Resort Owner
Real Estate Value
Steward of The Culture
• Preservation of Quality
• Understated Personality
• Educated, Affluent, Traveled Owners /
Consumers
• Confidence from Omni’s Financial Strength,
Commitment to Service & Quality
• New services and amenities to support current
and future owners
AIPCA Impact on Real Estate Value
• Improve the First Impression:Guards become greeters. Security becomes service. Guards greet, meet and assist
• Eliminate Deferred Maintenance: Assess, Fund, Implement & Communicate a Plan.
• Improve Governance:Update, simplify CA, ARB and Budgets
• Communicate & Nurture : The Community
AIPCA Impact on Real Estate Value
AIPCA Impact on Real Estate Value
AMELIA LIFE
Harmony with Nature…
more than a design concept … it’s a way of living.
Quality of Life – Community Events and Activities
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– Don’t assume
– look to the past in order to determine the choices for the future
– Stay relevant and vital
– Reinforce the spirit of the community
• Survey, survey, survey – feedback
– Develop a shared calendar
– Shared activities to improve the cost effectiveness and value
– Clarify of roles and responsibilities
– A joint resort, club and community association workshop
Community Events and Activities
• Shared activities – more social programming
Community Events and Activities
Investigate facilities swap with Omni• The existing POC facility is
relatively remote and is difficult to purpose
• The existing facility is within a 10 minute walking distance of 23% residents.
• The racquet club is within a 10 minute walking distance of 40% residents
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Investigate Facilities Swap with Omni
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Community Events and Activities
Community living room
• A place for quieter interchange for residents and visitors as a central community focus.
• A place of comfortable sofas, a reading library, film nights or game nights can be held.
• A common point between permanent and part‐time visitors and owners – a place to check in and take the pulse of the community.
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Community Environment
Comprehensive system to reduce the use of cars
• A perfect environment to move away from the reliance on personal cars.
• Fun vehicles ‐ electric carts, community cars and bikes, community segways, electric jeepneys
• Artfully designed bicycle racks and incentives
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Community Environment
Wireless and enhanced cellular network
• Good IT infrastructure is critical to today’s visitor and potential purchaser.
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Community Environment
Education – Community College nature center
• Partner with an external education entity to create a nature education and research center, a community health center or similar.
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Community Outreach
Increase shuttle connection
• Strong connections between the resort, plantation and the township is seen as beneficial to all parties.
• Increased shuttle services offered between the community, the town and other recreational and historical points of interest.
• As with the internal circulation network, explore the opportunity to utilize fun vehicles
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Community Outreach
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FoundationCreate Amelia Island Plantation Foundation• Supporting the tradition of
philanthropy and community outreach.
Community Outreach
Hospitality tent at shrimp festival• An outlet for community arts and endeavors, as well as providing a respite facility to encourage resident and visitor participation
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Implementation Recommendations
The following are recommendations for the AIPCA to complete, lead or facilitate.
These actions are categorized byongoingimmediate (ST* = 0-6 months)short term (ST = 0-2 years)medium term (MT = 2-5 years)long term (LT = 5-10 years).
The dates indicate the start date of the actions.
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Implementation Recommendations - Ongoing
• Continue collaboration among the stakeholders: AIPCA, Omni, The Club
• Host or cause to happen annual peer‐community symposium (may have best value if rotated amongst participants)
• Continue community engagement and participation
• Continue tapping into and utilizing the talent that lives here
• Continue to hold monthly update meetings with Omni and The Club
• Encourage continued volunteer passion • Continue coastal re‐nourishment leadership
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Implementation Recommendations - Immediate
• Hire AIPCA director
• Initiate the mandatory membership plan
• Finalize Club and amenity resolution plan
• Complete community‐wide amenity and needs survey
• Provide wireless internet connection throughout community
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Implementation Recommendations – Short Term
• Prepare Strategic Plan (with Omni and The Club)• Through Strategic Plan, determine priority for transfer
fee revenue (after storm reserve)• Develop comprehensive operating budgets
(operating, reserve, capital, maintenance plan)• Write and communicate the vision (the legacy story)• Revise CC&R to make more readable and user‐friendly• Work with ARB to integrate required design elements
especially important to single family home expansions, teardowns and multiple lots
• Explore more representative composition of ARB
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Implementation Recommendations – Short Term
• Create Amelia Life• Amelia Life orientation (resident
orientation)• Work with ARB to create approved
improvements for villas in poorest condition
• To help facilitate continuity at this time of transition, change maximum length of term that president can serve
• Explore selling Sunken Forest parcel to Omni to general AIPCA revenue
• Explore trading POC for Racquet Park center and repurpose center
• Work with Omni to have Security process be more guest friendly
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Implementation Recommendations – Short Term
• Create physical and digital community bulletin board• Create and maintain a community‐wide master calendar
(Resort, Club, AIPCA events)• Organize community activities to leverage connection to resources in
town• Begin to construct trail improvements (connections, signage)• Work with Omni and Club to make shuttle service available for all
residents and visitors• Have AIPCA hospitality tent at shrimp festival and similar in‐town events• Host annual AIP‐wide BBQ and Storytelling Festival• Host annual meeting of all HOA/COA presidents (before BBQ)• Measure usage of community facilities and activities• Write maintenance performance standards manual
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Implementation Recommendations Medium and Long Term
• Define and establish AIP Foundation
• Host island‐wide events at AIP(i.e., tennis tournament, music, art)
• Work with Omni to improve signage/wayfinding
• Encourage partners to convert fleets to alternative‐fuel vehicles
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Successful resort communities of the
future will:
1. Meet the needs of changing demographics
2. Emphasize environmental values
3. Value authenticity as place and experience
4. Deliver recreational opportunities
5. Exhibit community character and spirit
6. Recognize the total resort experience
7. Integrate the natural and built environment
8. Possess memorable icons and architecture
9. Be a vibrant community
10. Recreate what is missing from lives
Conclusion
Questions
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