Midtown City Center City Center Option a Senior Housing Or Condo Development Land • Offering Memorandum Medical Ref
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ROCK PRAIRIE ROAD CITY CENTER RESIDENTIAL REF. PAGE 4 FUTURE EXTENSION BAYLOR SCOTT AND WHITE MEDICAL CENTER TOWN SQUARE TOWNHOMES EXTENSION FUTURE DOUBLE MOUNTAIN ROAD MID-RISE RESIDENTIAL MID-RISE OFFICE EXTENSIONFUTURE AVENUE MIDTOWN CITY CENTER CITY CENTER OPTION A SENIOR HOUSING OR CONDO DEVELOPMENT LAND • OFFERING MEMORANDUM MEDICAL REF. PAGE 2 SINGLE FAMILY TRAIL CORRIDOR RESIDENTIAL MID-RISE CITY CENTER 5.751 ACRE LAND DEVELOPMENTROAD OPPORTUNITY MIXED USE NEIGHBORHOOD OPTION B MIDTOWN DRIVE MID-RISE PARK REF. PAGE 3 MIXED USE POND RETAIL BIRD MULTI-FAMILY HOUSING SOUTH EAST LOW-RISE OFFICE RECREATION MID-RISE CENTER COMMUNITY PARK MIXED USE RETAIL LAKE PLAZA POOL AMPHITHEATER LOW-RISE MULTI-FAMILY RETAIL/OFFICE HOUSING RESTAURANT LAKE PARK ENTERTAINMENT DESTINATION LAKEWAY DRIVE HOTEL NATURAL PARK FUTURE EXTENSION CITY SOUTH REF. PAGE 5 SUBJECT FUTURE DEVELOPMENT SITE LAKE PARK REF. PAGE 6 LICK CREEK FUTURE EXTENSION HIGHWAY 6 FUTURE TRAIL CONNECTION LICK CREEK GREENWAY TRAIL FUTURE BUSINESS DISTRICT RIALTO COLLEGE STATION, TX JANUARY 30, 2019 STUDIO MIDTOWN STATION 0 100 FT 200 FT 400 FT CONCEPTUAL MASTER PLAN | PAGE 1 SCALE: 1"=200'-0" NORTH EXECUTIVE SUMMARY MIDTOWN CITY CENTER EXECUTIVE SUMMARY Holliday Fenoglio Fowler, L.P. (“HFF”) is pleased to offer qualified investors the unique opportunity to purchase a site within Midtown City Center, a 5.751-acre land parcel permitted for senior housing (“The Property” or “The Site”) located in College Station, TX. Fueled by Texas A&M University (Enrollment: 69,000+), College Station has experienced unprecedented population growth of 24% since 2010. Situated off S Earl Rudder Freeway (Highway 6) at the intersection of Lakeway Drive and Bird Pond Road, the picturesque Site overlooks the tranquil Lake Park Pond and is strategically located less than one mile from Baylor Scott & White Medical Center – College Station and the College Station Medical Center. Midtown City Center’s unrivaled location, lack of competing senior housing product and proximity to the area’s best hospitals combine to make it one of the most compelling senior housing land offerings in Central Texas. PROPERTY OVERVIEW Location Midtown City Center Lakeway Drive, College Station, Texas 77845 Acreage 5.751 Acres Parcel # 413245 County/City/State Brazos/College Station/Texas Current Zoning PDD | Planned Development District Current Use Raw Land On-Site Detention None Parking Require- 1 Space for 1st Bedroom and 0.5 Spaces for ments Each Additional Bedroom TIA Complete - No Mitigation Required Environmental Clear Utilities To Site Density No Max 4 MIDTOWN CITY CENTER SITE MASTER PLAN ROCK PRAIRIE ROAD CITY CENTER RESIDENTIAL REF. PAGE 4 FUTURE EXTENSION BAYLOR SCOTT AND WHITE MEDICAL CENTER TOWN SQUARE TOWNHOMES EXTENSION FUTURE DOUBLE MOUNTAIN ROAD MID-RISE RESIDENTIAL MID-RISE OFFICE EXTENSIONFUTURE AVENUE CITY CENTER OPTION A MEDICAL REF. PAGE 2 SINGLE FAMILY TRAIL CORRIDOR RESIDENTIAL MID-RISE CITY CENTER ROAD MIXED USE NEIGHBORHOOD OPTION B MIDTOWN DRIVE MID-RISE PARK REF. PAGE 3 MIXED USE POND RETAIL BIRD MULTI-FAMILY HOUSING SOUTH EAST LOW-RISE OFFICE RECREATION MID-RISE CENTER COMMUNITY PARK MIXED USE RETAIL LAKE PLAZA POOL AMPHITHEATER LOW-RISE MULTI-FAMILY RETAIL/OFFICE HOUSING RESTAURANT LAKE PARK ENTERTAINMENT DESTINATION LAKEWAY DRIVE HOTEL NATURAL PARK FUTURE EXTENSION CITY SOUTH REF. PAGE 5 SUBJECT FUTURE DEVELOPMENT SITE LAKE PARK REF. PAGE 6 LICK CREEK FUTURE EXTENSION HIGHWAY 6 FUTURE TRAIL CONNECTION LICK CREEK GREENWAY TRAIL FUTURE BUSINESS DISTRICT RIALTO COLLEGE STATION, TX JANUARY 30, 2019 STUDIO MIDTOWN STATION MIDTOWN CITY CENTER 5 0 100 FT 200 FT 400 FT CONCEPTUAL MASTER PLAN | PAGE 1 SCALE: 1"=200'-0" NORTH INVESTMENT HIGHLIGHTS PROMINENT SURROUNDING DEMAND DRIVERS • Midtown City Center is situated approximately 2.0 miles from Texas A&M University, the largest university in Texas and SENIOR second largest in the United States with an enrollment in excess of 65,000 students. The University provides full and POPULATION part-time job opportunities for retirees looking to maintain an active lifestyle. GROWTH • The Site is ideally located less than one mile from Baylor Scott & White Medical Center – College Station and the College SINCE 2013 Station Medical Center providing over 300 beds in the immediate area for future residents. • Anchored by the Post Oak Mall, College Station has a dynamic retail market offering residents various shopping, dining and entertainment options across the city. Within one mile of the Site there are various national retailers and eateries including WalMart, Kroger, CVS, Whataburger, Cotton Patch Café and Starbucks. • Driven by the University, College Station has a robust hospitality market offering visiting family members plenty of 16.5% affordable options. Within a five-minute drive of the Site is the Courtyard by Marriott Bryan College Station, La Quinta Inn & Suites by Wyndham and Microtel Inn & Suites by Wyndham among others. SUPERIOR CONNECTIVITY & ADVANCING DEMOGRAPHICS • Strategically positioned less than one mile from Highway 6, the Site offers superior connectivity to some of Texas’ major thoroughfares including Highway 290, U.S Highway 79 and Interstate 35. • College Station is located in the heart of the Houston-Dallas-Austin-San Antonio “Texas Triangle”, which is within a two- hour drive of 26 million of the state’s 28 million residents. • The College Station-Bryan MSA is home to more than 260,000 residents and the population is projected to more than double by 2050. DISTANCE TO HWY 6 • With a diversified economy centralized around education, energy, transportation, agriculture and healthcare, the median household income in College Station has increased by 5.0% over the last year. <1 MILE 6 MIDTOWN CITY CENTER SYNERGISTIC PLANNED DEVELOPMENT • The land surrounding the Site is in the advanced stages of planning and completing horizontal infrastructure for additional accretive nearby developments including office, retail, multifamily and single-family homes. • Approximately 5.8 acres of developable land with entitlements in place for a senior housing or condo development. • Adjacent to the Site, there is a planned Beer Garden/Icehouse restaurant concept that will serve as a natural amenity for the future residents. • Approximately 112 acres have been sold to a prominent single-family home builder, taking down 75% of the single-family lots with homes prices ranging between $275,000 and $350,000. STRONG SENIOR HOUSING DEMAND WITH AN AGING POPULATION • With favorable tax laws, desirable climate, low crime rates, an active downtown and quality medical facilities, College Station has been consistently ranked as one of the best places to retire in the nation. • Although the city has a median age of 22 years old, College Station has a growing population of seniors with people over 60 years old making up over 8.5% of the total population, a 16.5% increase since 2013. HISTORICAL ENROLLMENT • The lack of seniors housing/assisted living options in College Station has increased demand throughout the city, resulting TEXAS A&M UNIVERSITY in limited options for seniors looking for a place to call home. Enrollment Total Student % Year Population Change 1948 8,536 -17% 1958 7,077 80% LARGE ENROLLMENT 1968 12,733 138% INCREASE RETIRING NOW 1978 30,255 29% 1988 39,079 11% 1998 43,442 11% 2008 48,039 44% 2018 69,228 *The large classes of 1978 and above are reaching the age of retirement MIDTOWN CITY CENTER 7 LOCATION OVERVIEW MIDTOWN CITY CENTER LOCATION OVERVIEW College Station – Bryan MSA 2038 2223 R S College Station, with an MSA population in excess of 260,000, has a diversified economy anchored by Texas A&M University. O 21 Y W College Station is located within Brazos Valley, which is known as a high growth, high quality location with access to a H Grassbur Rd e t a t highly educated workforce, a low-cost business environment, and a high quality of life. The unemployment rate in CS/B has S X Coulter Field T dropped to 2.7% which is below the national average of 3.9%. The MSA is projected to nearly double its population to an Lake M Cobb Rd estimated byu m2050 according to Jim Gaines, chief economist for the Texas Real Estate Center at Texas A&M. For most of Bryan fo N Texas Ave rd 190 R Sand d y P 2017, the College Station-Bryan MSA was the fastest-growing in the state, percentage-wise. oin t Rd 1179 Steep Hollow Rd Elmo Weedon Rd Homola Rd BRYAN t S k c E 29th St a b Harvey Mitchell Pkwys S Boonville Rd e S College Ave o r G 21 University Dr E Texas Ave Wellborn Rd 30 COLLEGE STATION Leonard Rd 47 6 W Villa Maria Rd George Bush Dr Southwest Pkwy Holleman Dr MIDTOWN Easterwood CITY CENTER Airport Rock Prairie Rd W Deacon Dr Graham Rd N Dowling Dr Barron Rd 10 MIDTOWN CITY CENTER COLLEGE STATION ECONOMIC OVERVIEW Primary market drivers are Education, Energy, Transportation, Healthcare, and AgriLife. These broad industry sectors capture a large portion of the new-age research enterprise system. College Station’s strategic location continues to attract new investment from large neighboring markets. The city lies inside of the Texas Triangle, also known as the megaregion consisting of Houston, San Antonio, Austin and Dallas-Fort Worth and is within a two-hour drive of 26 million of the state’s 28 million residents. College Station serves as key logistics hub for industries and offers a unique and affordable lifestyle alternative for individuals in the region. Texas A&M University Texas A&M University (“TAMU” or “A&M”) opened in 1876 as the first public institution of higher education in Texas and features the largest campus in America, spanning 5,200 acres. Texas A&M is a Tier-1, public research University that is the 2nd largest enrollment in the country and largest in Texas with more than 69,000 students.