1085 Lake Cook Road
Pre-filing Conference Meeting April 13, 2017
Gilbane Development Company | April 13, 2017 1 Table of Contents Section 1 Gilbane Development Company Overview Section 2 Project Information Section 3 Community Features Section 4 Demographics and Economics Section 5 Preliminary Traffic Evaluation Section 6 Large Scale Plans Attached Full Scale Plans
Gilbane Development Company | April 13, 2017 2 Section 1 – Gilbane Development Company Overview
Gilbane Development Company | April 13, 2017 3 About Gilbane
Gilbane, Inc.
V One of the oldest privately held family- owned construction and real estate development firms in the industry. V Founded in 1873 with more than 50 offices worldwide V $5.2 Billion Annual Revenue V Several billion square feet of successful project completions
Gilbane Development Company | April 13, 2017 4 About Gilbane
Gilbane in Chicago NOTABLE CHICAGO PROJECTS V 2 permanent Chicago offices • O’Hare International Airport • Univ. of Chicago Med. Center V 38 years of Chicagoland experience • Marianjoy Rehab. Hospital V Ranked #15 Top Contractor in 2016 by Crain’s • Elmhurst Memorial Chicago Business Healthcare V Gilbane currently serving as Construction • Adlai E. Stevenson High Manager for Township High School District School District 113’s Master Plan
Gilbane Development Company | April 13, 2017 5 About Gilbane
Gilbane Development 30 East Company South Loop, Chicago, IL
V Over $1 Billion in mixed-use projects over the last 10 years, with another $800 million currently in development Almeria at Ocotillo V Over $5 Billion in total Chandler, AZ development V Over 51,000,000 SF of development V 7,400+ units of housing developed/underway
Gilbane Development Company | April 13, 2017 6 About Gilbane
Gilbane Development Company - Select Multifamily/Mixed-Use
College Town + Mount 257 Thayer Hope Lofts- Rochester, NY Providence, RI
23 Twenty Lincoln Almeria at Ocotillo Surfside Narragansett Ames, IA Chandler, AZ Narragansett, RI
Gilbane Development Company | April 13, 2017 7 About Gilbane
Gilbane Development Company - Select Multifamily/Mixed-Use
Gilbane Development Company | April 13, 2017 8 About Gilbane
Gilbane Development Company – Deerfield Project Team
‹ Ownership: Gilbane Development Company ‹ Legal Team: Gilbane & Thompson Coburn LLP ‹ Architecture: FitzGerald Associates Architects ‹ Landscape Design: Hitchcock Design Group ‹ Civil Engineer: Eriksson Engineering Associates ‹ Traffic: Eriksson Engineering Associates ‹ Fiscal & Economic Impact: Strategy Planning Associates
Gilbane Development Company | April 13, 2017 9 Section 2 – Project Information
Gilbane Development Company | April 13, 2017 10 Project Information
Gilbane Deerfield Neighborhood Plan
REPLACE IMAGE
Gilbane Development Company | April 13, 2017 11 Project Information
Gilbane Deerfield Site Plan
Gilbane Development Company | April 13, 2017 12 Project Information
Gilbane Deerfield Landscape Plan
Gilbane Development Company | April 13, 2017 13 Project Information
Gilbane Deerfield Exterior Concept
Gilbane Development Company | April 13, 2017 14 Project Information
Gilbane Deerfield Site Section
Section at High School ° Proposed apartment building parapet wall is approximately the same height as the high schools. ° Variance is required primarily because of parapet walls. Apartment roof is within one foot of height limit and could be lowered but would still not eliminate the need for the variance.
Gilbane Development Company | April 13, 2017 15 Project Information
Gilbane Deerfield Site Section
Section at Deerfield Business Center (DBC) ° DBC floor level is approximately four feet higher than the first floor of the proposed apartment building. ° Proposed apartment building is more than two hundred & twenty feet away from DBC.
Gilbane Development Company | April 13, 2017 16 Project Information
Bulk Regulation Comparison Table DESCRIPTION I-1 INDUSTRIAL DIST. PROPOSED AMLI Building Minimum Site Size 5 Acres 4.97 Acres 6 Acres Variances Requested Minimum Lot Width 200' 456'-0" 435.49' Setback Public R.O.W. (North) 100'-0" 220'-0" (note 1) 122.59' ° Building height increase by 3’ Setback Perimeter (East) 50'-0" 50'-0" 63'-0" Setback Perimeter (South) 50'-0" 24'-0" 72.3' ° Reduction of rear yard from 50’ to 24’ Setback Private Street (West) 50'-0" 20'-0" 63.45' Max. Lot Coverage 35% 27% 38% ° Reduction of west side yard from 50’ to 20’ Open Space 10% 12% 13% Parking in Setbacks Not Permitted ** Yes Yes Predevelopment Grade Elevation 665.4' ° Reduction of parking from 357 to 322 stalls Development First Floor Elevation 664.0' Dwelling Unit Count 212 240 ° Allowing parking/drive aisles within the Dwelling Unit Density Per Acre 43 40 setbacks. Top of Parapet 48'-0" (713.4') above ° Reduction of loading area from 12’ x 50’ to Predevelopment Grade Max. Building Height 45'-0" (710.4') (note 2) 48'-0" 12’ x 25’ Height Stories 4 Stories 4 Stories Parking Stalls 357 322 (note 3) 413 (note 4) ° Signage (business ground sign & building Parking Stall Size 9'-0" x 19'-0" 9'-0" x 19'-0" 9'-0" x 19'-0" (note 5) Drive Aisles 24'-0" 24'-0" 24'-0" identification) variances to be determined
Parking Calculations Efficiency + 1 BR Units (1.5 cars/unit) (134) units x (1.5) cars = 201 Support Requested 2 BR + Duplex Units (2 cars/unit) (78) units x (2) cars = 156 ° Multifamily use within the I-1 Zoning Total 357 322 (note 4) ° Approval of Planned Unit Development Notes: 1) Based on existing easements and recorded building line setback 2) 49.4' above top of first floor ° Density of up to 45 units/acre 3) 90% of code required. Yields 1.52 Stalls/Unit 4) 405 stalls required by code 5) Received variance for 8.5' stall width for all structured parking stalls
Gilbane Development Company | April 13, 2017 17 Section 3 – Community Features
Gilbane Development Company | April 13, 2017 18 Community Features
Gilbane Deerfield – Property Features ‹ 212 apartments on 5 acre site . Unit mix includes 1 and 2 bedroom units. ‹ Luxury finishes including stainless appliances and wood flooring plus 9-18’ ceiling heights . Upgraded 2 story & penthouse units. ‹ Pool with expansive landscaped patio and lounge areas, fire pit, hot tub, grilling stations, and sauna. ‹ Large, highly amenitized clubroom with comfortable seating and multiple entertainment areas. ‹ Extensive business resource center with computers. ‹ Welcoming lobby area with tech center, coffee bar and mail area. ‹ On-Site Maintenance and concierge services. ‹ 24 hour state-of-the-art fitness center with yoga room/virtual training fitness on request system. ‹ Sustainable /green design
Gilbane Development Company | April 13, 2017 19 Representative Unit Interiors
Gilbane Development Company | April 13, 2017 20 Representative Amenities
Gilbane Development Company | April 13, 2017 21 Section 4 – Demographics and Economics
Gilbane Development Company | April 13, 2017 22 Demographics and Economics
Housing Fundamentals ‹ Individuals are renting by choice rather than by necessity. ‹ Empty nesters are downsizing to smaller units. ‹ Census data indicates two-parent households are growing proportionately less than single-person or childless couples. ‹ Apartments have a smaller carbon footprint than single family homes. ‹ Upscale, amenity-rich communities desired by today’s renters. ‹ 56% of all resident households in the Market Area consist of persons living alone or in two-person arrangements (consistent with renter demographics). ‹ Growing shift for corporations to rent furnished units in adjacent communities for out-of-town executives & recruiting purposes.
Gilbane Development Company | April 13, 2017 23 Demographics and Economics
Economic Development ‹ Range of average rental rates $1,350 to $3,200 per month ( allows renters making $49,000 to $116,000 per year to qualify ). ‹ Over 60% of apartments affordable to individuals making less than $70,000 , as compared to Deerfield Median Household Income of $135,000. ‹ Capitalize on popularity of Transit-Oriented Development (TOD) – site is within ¾ mile to train station ‹ Highest and best use for the site ‹ Amenity for residents who work at neighboring businesses/offices. ‹ 486 total jobs created with a total economic benefit of more than $57M (construction, operations & resident local spending). ‹ Resident spending - renters known for spending more of their income locally than those that own their homes. ‹ Assist the land owner by reducing their bankruptcy obligations.
Gilbane Development Company | April 13, 2017 24 Demographics and Economics
Fiscal Benefits ‹ Village of Deerfield, Library & Park District will have an immediate infusion of more than $1.9M from impact fees and construction permit fees. ‹ Property tax projected to increase from $0 to $750,000 in 2020. ‹ Projected to generate more than 350 residents ‹ Census data forecast 420 new households annually in the Northfield, New Trier, West Deerfield & Moraine townships between 2016 – 2021.
Gilbane Development Company | April 13, 2017 25 Strong Employment Base – 15 mile radius
FORTUNE 500/1000 COMPANIES 15mi radius Potash Corp Walgreens Takeda Fortune Brands Baxter Discover Essendant CF Industries Mondelez Astellas Donlen Allstate AON Hewitt ITW Anixter Siemens CDW Grainger AbbVie
Gilbane Development Company | April 13, 2017 26 Demographics and Economics
Why Apartments Make Sense for this Property
‹ Property is ideally located adjacent to numerous corporations ‹ Well served by local & regional transportation including METRA’s Lake Cook Road commuter station. ‹ Apartments will create less traffic conflicts as opposed to an 80,000 square foot office development. ‹ Reverse commute : Apartments are ideal counterpart to offices. In the morning as office users arrive, the apartment residents are leaving. This is also true, but opposite, in the evenings. ‹ 60% of our proposed units are one bedroom and smaller which will create less residents living in the community. ‹ Anticipate at least 10% of the units being rented by employees of the immediately adjacent offices in the business park. In this scenario, apartments become more of an amenity than an obstruction. This will allow them to walk to work rather than driving. ‹ Based on the successful lease-ups for new apartment developments in the Deerfield Market Area, this has shown that there is market demand for luxury apartments and amenities . A few examples of recent successful developments are Woodview & Northshore 770.
Gilbane Development Company | April 13, 2017 27 Alternate Use of Site
What Else Could be Developed at the Property
‹ Existing building is outdated & layout isn’t functional . That’s why the building sat vacant for so many years before being repurposed by the Greek School and requiring a Special Use Variance in order to be compliant. ‹ Currently zoned I-1 Office, Research, Restricted Industrial District. The only use which is permitted by right is office . ‹ If the site was redeveloped as an office building, and based on the existing setbacks and height limit, the footprint could easily reach 20,000 to 40,000 square feet or 60,000 to 120,000 square feet for a 3 story building. Using the industry standard typical parking ratio of 4 stalls / 1,000 sf of space, this would produce 240 to 480 parking stalls . ‹ This user profile and quantity of vehicles will have a far greater impact on the existing traffic issues at this location than our proposed apartments.
Gilbane Development Company | April 13, 2017 28 Section 5 – Preliminary Traffic Evaluation
Gilbane Development Company | April 13, 2017 29 Traffic Evaluation
Preliminary Traffic Evaluation
‹ The existing Greek School’s morning traffic patterns is obtrusive to the Pine Street intersections and creates a burden for the adjacent property owners. ‹ Residential uses are complimentary to office uses specifically as it pertains to parking and vehicular traffic. Both users experience a reverse commute rationale. The apartment development will primarily generate outbound movements during the morning peak period whereas the office and high school land uses will generate inbound movements. This is similar with the evening peak periods as well. ‹ Peak traffic times between the high school and synagogue occur at different ti mes which mitigates the peak period conflicts. ‹ Elimination of the existing schools secondary vehicular access point south of Frontage Road will aid in reducing vehicular conflicts for the high school. ‹ Apartment owner will promote public transportation to its residents. Census data for existing renters in Deerfield indicate 6.1% of renters use public transportation and 7.7% walk to work. This results in an overall reduction to the traffic counts by 15-19 vehicles per hour. ‹ Based on the site improvements being proposed by Gilbane, the overall Level of Service for the Lake Cook/Pine intersection will not materially change from its existing condition. However, the Frontage Road/ Pine intersection will be dramatically improved after the apartment construction is completed. Especially in the evening hours when employees are leaving the business park.
Gilbane Development Company | April 13, 2017 30 Traffic Evaluation
Gilbane Development Company | April 13, 2017 31 Traffic Evaluation
Gilbane Development Company | April 13, 2017 32 Traffic Evaluation
Gilbane Development Company | April 13, 2017 33 Traffic Evaluation
Gilbane Development Company | April 13, 2017 34 Traffic Evaluation
Gilbane Development Company | April 13, 2017 35 Traffic Evaluation
Gilbane Development Company | April 13, 2017 36 Alternate Use of Site
Section 6 – Large Scale Plans
Gilbane Development Company | April 13, 2017 37