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HomeMy WebLinkAbout6.B.(4) Staff Report former Rink Riverside site~ ~ (~~~ ~` ''~. ~' i Community & Economic Development ~ ~ ~i ~N= 1'200 County-City Bullding, 227 West Jefferson, Souih Bend, Indiana 46601-1830 _ Phone 574/235-9371 _ Fax 574/235-9021 To: Redevelopment Commission From: Jennifer Laurent SubjecL• Staff Report on Disposition of Property (Former Rink Riverside Site) Date: September 2. ?003 Andy Place Jr. and Andv Place Sr. of PlaceBuilders. Inc. have submitted a proposal to purchase the former Rink Riverside Printing site at Colfax and Sycamore Street i^ the East Bank area of the South Bend Central Development Arca. PlaceBuilders is a local residential development firm ~~~ith a history of successful, high quality residential subdivision. villa and townhome developments, including Ironwood Villas, Savannah Pass and Gum~~°ood Crossing. PlaceBuilders proposes to construct a multifamily urban brownstone development featuring eleven condominiums, with amenities that capture a wide audience of potential owners, a site plan that maximizes the views of the St Joseph Ricer, and a residential use and density of development that is supported by the recently approved East Bank Plan. I would like to ask them to show you all their design concepts and speak to the timeline they have in mind for construction, as ~tiell as the assistance they would seek from the Commission to facilitate the development. We intend to continue workin~~ ~~~ith PlaceBuilders and Architecture Design Group to reline the exterior materials and design as well as placement of the units to tit with the context of the site, with the goals oC integrating secure access to the riverfront walking trail. making efficient use of the small pie-shaped site, and introducing a pleasing view of the attached residential homes from across the Colfax bridge in the CBD. The property was previouslti~ offered through the public disposition process at the appraised average of $337.00. PlaceBuilders seeks a concession on land price with an offer of $1 X0,000, in order to make sales prices Ior the units more viable in the South Bend market. Staff has sound this value I~or the cleared land to be justified in the pro forma they have presented and a critically important aspect of the project. ~'e want to be able to insure the success of the project. while still making funds available to assist ~~~ith the cleanup of the riverbank and other infrastructure needs presented in tandem ~~~ith the project. Your approval is recommended. To Commission rc Place.doc What We Do Today Makes A Difference! City of South Bend Economic Development 31-Jul-08 Scope of Work: To build a brownstone community that blends in with downtown South Bend on the corner of Colfax and Sycamore Most recently, the old Rink Riverside location Possible Names: Rivers Edge River walk Riverside Parking: We plan to utilize the property for as much parking as possible There is also some street side on Sycamore that can be taken advantage of. Also, each unit will have a 2 car garage with a pad to park 2 more additional vehicles Price: Costs based on the proposal of land would be in the $350-$400 range Sales Price of these units would be in the 5400-5450 range depending on customer changes to the plans If full price were paid for land and all surrounding infrastructure costs, building and land costs would exceed 5450K and the minimum sales price would be over S500K. Based on market conditions for the project to succeed, it would need to be well below that. Financing: TBD Time Frame: We would like to start Pre-Sales by Fall of 2008. We would also like to have a model up by Spring of 2009. With only 10 total units, we anticipate completion of the entire project with 10 new owners by the end of 2010 Concerns: Security issues with East Race Walkway Removal of Guard Rail Trees coming out of River Bank There seems to be more area around the property that shows up on the plot Water and Sewer to the Site Replacement of Curbs and Sidewalk on Sycamore Condition of Walkway Flagstone Retaining Wall Items that will be incorporated into the Project: Perimeter Drain Tile around footers of the foundation Coach House Type Garage Doors with openers Aristocraft Cabinets Whirlpool Energy Star Appliances Sherwin Williams Paint Products(using low voc) Delta Plumbing Fixtures Wood Cased Openings on all windows, doors, and closets 2 Exterior Hose Bibs and 2 Electrical Outlets Anderson Low E, Double Hung windows with Decorative Grills High Efficiency Central Air Unit 92+% High Efficiency Furnace Owens Corning 30 Year Architectural Shingles Dehumidifier to rid moisture during and after construction Tyveck Wrap Distressed Brick with Limestone Quenes Exterior Deck or Screen Porch off River Views House wired for 5 phones, 5 cables. 3 fan boxes, and 10 can lights Extensive Landscaping Granite Kitchen and Bath tops Recycled Mud Based Ceramic Shower in Master Bath Gas Direct Vent Fireplace Custom Closet Shelving Bamboo on First Floors Recycled Ceramic on floor in baths Sprinkling System utilizing drip system Schlage Door Hardware Leaded Glass Entry Doors Recycled Gypsum Products 10 Year Structural Warranty Follow-up service at 6 months and 12 months 5 Star + Energy Star Rated Home with Diagnostic check before close SROIUNSTONE TOIUNNOUSE FRONT ELEVATION (If REAR ELEVATION III GROUND FLOOR PLAN III BROWNSTONE TOWNHOUSE i ~9I n s' o it i O 0 Y <ia¢nr coon s ~- -s !i .,y~ _ ~. s. _ -~ may. 7i, a~ 9I -+ 8 ii q. i i 9' a P -an' p. -_ ue. +coc ~~ ~~ o ~ ~~ ~ ~ ~~ ~ WALL 'aT. • 8' I-I/8' 4RF1+ ~ ICOO 54. FT. n~ } MAIN FLODR PLAN III BROWNSTONE TOWNI-LOUSE °~=`°~<EA 61 ~~ ~C SD. Ff. BROWNSTONE TOWNHOUSE ~ g~g~-~ SECOND FLOOR PLAN III ~ ~ w N W O }U N SITE PLAN ORIGINAL PLAT OF THE TOWN OF LO WELL LOT 9 AND PART OF LOT 8 ~pR PLACE ©UiLDFRS, INC. ~~~ i ~ ~ Yg ~ i ~ i ------ -: _ 108.90 ~~ L- _- o ao' ao' i~o' COLFAX AVENUE 82.5'R~W lava. vaa„«~ H e«„~~~~.< i