Little Saigon Landmark Project Feasibility Study
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Little Saigon Landmark Project Feasibility Study October 2014 Completed for the Friends of Little Saigon by SCIDpda Table of Contents Executive Summary ............................................................................................................. 1 Introduction and Overview .................................................................................................. 2 Space Program .................................................................................................................... 6 Site Selection ..................................................................................................................... 14 Massing Studies and Cost Estimates .................................................................................. 15 Market/Economic Analysis ................................................................................................ 16 Conclusion ......................................................................................................................... 17 Appendix A—Space Program Appendix B—Site Selection Appendix C—Massing Studies and Cost Estimates Appendix D—Market/Economic Analysis Appendix E—Vietnamese Cultural Center Feasibility Study Appendix F—Little Saigon Housing Needs Assessment Executive Summary The Friends of Little Saigon (FLS) group seeks to create a gathering place for the regional Vietnamese community in or adjacent to the Little Saigon business district. This can be accomplished by bringing together the district’s cultural, shopping, and culinary aspects in a distinctive physical anchor—the Landmark Project—located in the heart of Little Saigon. The mixed-use Landmark Project will consist of a cultural center, Southeast Asian grocery, Emerald Night Market, and restaurant as its main components. Affordable housing and parking will also be included to accommodate the region’s growing Vietnamese population. Each component of the development will reflect Vietnamese Americans’ rich culture, history, and future. The cultural center will include exhibits of historical artifacts that represent the community’s past and a hall for traditional and contemporary performances. The night market will contain specialty boutiques that serve as incubators for small vendors and emerging entrepreneurs—all in a unique architectural environment of permanently built small shops and portable kiosks. The Asian supermarket will stock affordable items to meet daily needs, as well as hard-to-find products, in a space comparably sized to mainstream supermarkets. The Southeast Asian restaurant and banquet hall will accommodate the needs of Asian weddings, celebrations, community fundraising, and other special events. The housing units will add an affordable option for families or working professionals to the scant housing supply in the area. The co-location of the four main project components will not only attract a variety of customers on a daily or weekly basis and for special occasions; they will allow the development’s space to be used efficiently. The cultural center will be adjacent to the restaurant/banquet hall so that both can access a performance hall on an as-needed basis. The night market space will be able to expand into the supermarket space for special events, or to be temporarily converted to public gathering space. In the long run, this co- location allows flexibility with regard to permanent expansion of one or more components. The project will also include 4-5 floors of residential units for families or workforce households. Until 2008, Little Saigon was not zoned for multifamily housing; thus, very little housing exists in the area. There appears to be sufficient demand to accommodate a new 75- to 100-unit housing development in Little Saigon in the next 3-5 years. This feasibility study has determined that the Landmark Project is financially sustainable given the following conditions: 1) a robust capital campaign for the Cultural Center, 2) creative funding mechanisms, 3) a compatible housing clientele, 4) knowledgeable component operators, and 5) broad community support. 1 Introduction and Overview The Little Saigon area comprises the eastern half of the Chinatown International District, east of I-5. Beginning in the 1980s, a concentration of Vietnamese businesses established themselves around the intersection of S Jackson Street and 12th Avenue S; today Little Saigon is a regional hub of Vietnamese culture, economy, and community. As a destination for shopping, eating, and socializing, the area serves over 40,000 Vietnamese Americans from across the Puget Sound region. Little Saigon has historically held a mix of uses. Today, it contains low-rise commercial development populated by more than 100 small family-run businesses, some light industry, and scattered multifamily and single-family housing. Major changes are in store for Little Saigon. The Livable South Downtown plan rezoned the area for much higher, denser mixed-use development. The First Hill Streetcar, slated for completion in early 2015, will make the area more attractive for transit-oriented development. And the Seattle Housing Authority is planning to completely redevelop the 30-acre Yesler Terrace site on Little Saigon’s northern border. Though these changes are not in themselves negative, many local businesses fear displacement due to development pressure and rising rents, and the broader Vietnamese community has recognized threats on several fronts to the Little Saigon area. As a result of these pressures—both real and anticipated—the Friends of Little Saigon (FLS) was formed in early 2011 to promote, plan, and advocate for the neighborhood. FLS is a grassroots community development organization with an active board. On September 4, 2012, Seattle City Council approved Resolution 31403 following a major advocacy effort by FLS and local and regional partners. This resolution authorized the City of Seattle Office of Housing (OH), Department of Planning and Development (DPD), Office of Economic Development (OED), and Seattle Housing Authority (SHA) to work with FLS and other community members in Little Saigon to explore the feasibility of developing a “Landmark Project”: a mixed-use development that may include low-income housing, affordable commercial space, and a Vietnamese cultural center, with the goal of establishing a major cultural anchor and stabilizing presence in the area. The Friends of Little Saigon selected the Seattle Chinatown International District Preservation and Development Authority (SCIDpda) to assist it with this Landmark Project Feasibility Study. SCIDpda managed the feasibility study, performed the space program development and site selection, coordinated the massing studies work with GGLO as lead consultant, coordinated the construction cost analysis with Marpac LLC as lead cost estimator, and coordinated the economic analysis tasks with Heartland LLC as the lead economic consultant. 2 Approach and Results The project team took a collaborative approach to the feasibility study, with frequent meetings with the Friends of Little Saigon and stakeholders at the City of Seattle and the Seattle Housing Authority. The study was completed in six stages over 16 months: development of a space program, analysis of potential sites, massing studies, market and economic analyses, documentation of findings, and next steps in the development process. Space Program The initial task of the feasibility study was the development of a detailed space program for each of the Landmark Project components. For each use, the project team identified types of rooms and room sizes, which were aggregated for each component. As part of the identification of space needs, the team assessed opportunities for the various project components to share space, especially for the support functions. The resulting first-cut space program showed 80,000 square feet of space needs for the four main Landmark Project components, about 100,000 square feet of housing, and 50,000 square feet of parking. Refer to the Space Program chapter for more details. Site Selection The next step in the process was to find a site capable of accommodating the space program. Twelve sites were selected for evaluation based on the parcel size needed to accommodate the Landmark Project, their visibility in Little Saigon, and ease of access for vehicles and pedestrians. The Friends of Little Saigon Board prioritized a site on S Jackson Street just west of 12th Avenue S (Site #3) for its excellent pedestrian and vehicular access and visibility. Refer to the Site Selection chapter for more details. Figure 1. Potential sites for Landmark Project 3 Massing Studies and Cost Estimates The next step in the feasibility study was to perform a three-dimensional massing study to fit the space program at each of the three finalist sites and evaluate ingress/egress/staging requirements, ability to meet the zoning conditions, and use restrictions. GGLO, the architectural consultant, arrayed the space program of the four main project components onto floor plans within a two-story structure. Underground parking was then incorporated and 4+ floors of housing were stacked above the main components. GGLO also provided graphic information on vehicular and pedestrian ingress/egress and ensured that each massing study complied with the zoning conditions governing that specific site. Figure 2. Massing studies for three finalist sites The massing study results were submitted to Marpac LLC to perform construction cost estimates. Using its extensive