waterfront development master plan kingston, tennessee bullock, smith & partners, inc....
TRANSCRIPT
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Waterfront DevelopmentMaster Plan
Kingston, Tennessee
Bullock, Smith & Partners, Inc.Knoxville/Nashville, TennesseeMaster Planners/Architects/Landscape Architects
Barge Waggoner Sumner & CannonOak Ridge/Knoxville/Nashville, TennesseeSite Engineers/Planners/Transportation Engineers
Economics Research AssociatesWashington, D.C.Market & Economic Feasibility ConsultantsMay 9, 2005
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Project PhasesBullock, Smith & Partners, Inc.
• Phase 1:– Task 1: Determine Study Area– Task 2: Assemble Site Documentation– Task 3: Inventory & Data Gathering
• Phase 2: – Task 4: Community & User Group Input Sessions– Task 5: Evaluate Economic & Area Demographic Profile– Task 6: Examine Real Estate Market Trends– Task 7: Site Analysis
• Phase 3:– Task 8: Measure Market Potentials & Prepare Preliminary– Task 9: Develop Alternative Concepts
• Phase 4:– Task 10: Calculate Economic Impacts– Task 11: Finalize Master Plan & Final Presentation
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Physical Analysis
Bullock, Smith & Partners, Inc.
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Project ScopeBullock, Smith & Partners, Inc.
Primary Study Area Photos
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Project ScopeBullock, Smith & Partners, Inc.
Secondary Study Area Photos
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Public CommentsBullock, Smith & Partners, Inc.
Notes from Interviews and Public Meetings:
• Lakefront is a valuable asset to the community of Kingston.
• Economic concerns include increasing tax revenue, buying power and retail opportunities.
• Public investment is a concern; would like to attract “new” money.
• Traffic and parking are significant concerns in the lakefront area.
• Important to emphasize historic elements within the city.
• Tourism and local recreation could be increased with restaurants and riverboat possibilities.
• Kingston would be an ideal place for a small marina to purchase gas.
• Ultimately, would like to improve upon the quality of life in Kingston.
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AnalysisBullock, Smith & Partners, Inc.
21. Opportunities and Constraints
22. Significant Issues
19. Architectural Theme/Image
20. Ownership
100’ Buffer Zone for Beer Sales
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TVA InformationBarge, Waggoner, Sumner & Cannon
TVA Information:
Land Controlled by TVA Watts Bar Operating Information
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Economic Impact Analysis
Economics Research Associates
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Study Objectives
Assess overall redevelopment potential of downtown/waterfront
Identify market potentials (retail, office, housing)
Estimate economic benefits
Economics Research Associates
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Tasks
Stage I: Diagnostic Key stakeholder interviews & focus groups Conduct market research Understand economic fundamentals: what are the factors
driving demand?
Stage II: Market Potentials Test commercial & tourism development opportunities Identify appropriate commercial mix
Stage III: Economic Impacts Measure potential economic impacts to determine leverage
Economics Research Associates
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Market Potentials
Housing Waterfront: 20 to 70 units Downtown: 40 units
Total Housing Program of 60 to 110 Units
Commercial Restaurants: 12,000 SF Leisure & Entertainment: 6,500 SF Specialty Retail: 6,000 SF Office: 25,000 SF
Total Commercial Program of 50,000 SF
Economics Research Associates
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Potential Economic Benefits
Temporary construction jobs & associated income
Permanent employment & wages generated by new commercial retail & restaurant uses
New, permanent residents attracted to new housing
Increasing retail sales taxes
Economics Research Associates
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Potential Employment & Income
Temporary $3.4 million in construction income Generating approx. 25 construction jobs 5-year buildout
Permanent $6.5 million in annual wages Approximately 200 new jobs
Economics Research Associates
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Potential Sales Tax Revenues
$5.5 million in annual retail spending
$2 million in general retail
$3.5 million in food & beverage
$470,000 in annual retail sales taxes
State of TN: $350,000
Roane County: $70,000 Kingston: $70,000
Economics Research Associates
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Potential Property Tax Revenues
$136,000 in annual property taxes generated by new development
Distribution: $94,000 to Roane County; $42,000 to Kingston
Economics Research Associates
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Supportable Retail Space
$320,000 in annual spending generated by on-site employment
$1.5 million in annual retail spending
generated by on-site households
9,000 SF of retail space supportable by new development
Economics Research Associates
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Benefits of Downtown Revitalization
Protects property values Sense of identity & community pride Place to shop, visit, gather & socially interact Key indicator of social health of a place Visual representation of community heritage Attracts new residents, tourists, new
businesses Convenience & local accessibility to goods &
services
Economics Research Associates
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Alternative Concepts
Bullock, Smith & Partners, Inc.
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Program Recommendations
Restaurant OptionsBullock, Smith & Partners
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Office Space OptionsBullock, Smith & Partners
Program Recommendations
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Retail OptionsBullock, Smith & Partners
Program Recommendations
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Residential OptionsBullock, Smith & Partners
Program Recommendations
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Alternate Concepts
Options Bullock, Smith & Partners
Option A Option B
Option C
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Development Strategy
Bullock, Smith & Partners, Inc.
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Development Strategy
Site PlanBullock, Smith & Partners
Streetscape Improvements
Greenway
MarinaRestaurant
RetailOffice Space
Riverboat
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Restaurant/MarinaBullock, Smith & Partners
Development Strategy
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RetailBullock, Smith & Partners
Development Strategy
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RetailBullock, Smith & Partners
Development Strategy
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OfficeBullock, Smith & Partners
Development Strategy
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Streetscape ImprovementsBullock, Smith & Partners
Development Strategy
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Streetscape ImprovementsBullock, Smith & Partners
Development Strategy
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Streetscape ImprovementsBullock, Smith & Partners
Development Strategy
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Greenway EnhancementsBullock, Smith & Partners
Development Strategy
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Financing Concepts
Economics Research Associates
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Potential Financing Options
Examples of direct incentives for private investment:
Land assembly City-funded improvements Disposition of city-owned parcels at low or no cost Site preparation Property tax abatements or reductions “Gap" financing for business expansion or relocation Direct grants and/or other business development incentives Revolving business loan program City as developer/landlord
Economics Research Associates
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Potential Financing Options
Examples of indirect incentives for private investment:
Public infrastructure improvements Underground utilities Streamline permitting & public approvals Main Street Program
Economics Research Associates
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Implementation Strategy
Public Improvements: Funding
Capital Improvements Grants
Budgeting Issue RFP/RFQ Select Designer Design Bid Construction
Economics Research Associates
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Implementation Strategy
Public/Private Development: Identify Projects Identify Potential Developers
ICSC BWSC/BS&P
Develop RFP’s Receive Proposals Select Developer Develop Designs and Build
Economics Research Associates
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Implementation Strategy
Operations: Develop Program
PR Campaign Implementation of Plans Develop Entertainment Schedule
Economics Research Associates
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Implementation Strategy
Staffing Options: Utilize Existing Staff Hire New Staff (Full-time/Shared)
Waterfront Development Manager Main Street Program Director
Hire Consultant Member of the National Council for Public-Private
Partnerships
Economics Research Associates
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Waterfront DevelopmentMaster Plan
Kingston, Tennessee
Bullock, Smith & Partners, Inc.Knoxville/Nashville, TennesseeMaster Planners/Architects/Landscape Architects
Barge Waggoner Sumner & CannonOak Ridge/Knoxville/Nashville, TennesseeSite Engineers/Planners/Transportation Engineers
Economics Research AssociatesWashington, D.C.Market & Economic Feasibility ConsultantsMay 9, 2005