A ULI Advisory Services Panel Report a ULI Advisory Services Panel Report

A ULI Advisory ServicesReport Panel A ULI Norfolk Virginia December 14–19, 2014 Advisory ServicesReport Panel A ULI Norfolk2015_cover.indd 2 5/27/15 1:02 PM Norfolk Virginia Resilience in Fort Norfolk: Assessing Risk and Protecting Value December 14–19, 2014 Advisory Services Panel Report A ULI A ULI About the Urban Land Institute THE MISSION OF THE URBAN LAND INSTITUTE is ■■ Sustaining a diverse global network of local practice to provide leadership in the responsible use of land and in and advisory efforts that address current and future creating and sustaining thriving communities worldwide. challenges. ULI is committed to Established in 1936, the Institute today has more than ■■ Bringing together leaders from across the fields of real 34,000 members worldwide, representing the entire spec- estate and land use policy to exchange best practices trum of the land use and development disciplines. Profes- and serve community needs; sionals represented include developers, builders, property owners, investors, architects, public officials, planners, ■■ Fostering collaboration within and beyond ULI’s real estate brokers, appraisers, attorneys, engineers, membership through mentoring, dialogue, and problem financiers, academics, students, and librarians. solving; ULI relies heavily on the experience of its members. It is ■■ Exploring issues of urbanization, conservation, regen- through member involvement and information resources eration, land use, capital formation, and sustainable that ULI has been able to set standards of excellence in development; development practice. The Institute has long been rec- ■■ Advancing land use policies and design practices that ognized as one of the world’s most respected and widely respect the uniqueness of both the built and natural quoted sources of objective information on urban planning, environments; growth, and development. ■■ Sharing knowledge through education, applied research, publishing, and electronic media; and Cover: Wetlands Watch © 2015 by the Urban Land Institute 1025 Thomas Jefferson Street, NW Suite 500 West Washington, DC 20007-5201 All rights reserved. Reproduction or use of the whole or any part of the contents without written permission of the copy- right holder is prohibited. 2 A ULI Advisory Services Panel Report About ULI Advisory Services THE GOAL OF THE ULI ADVISORY SERVICES program to provide recommendations in a compressed is to bring the finest expertise in the real estate field to amount of time. bear on complex land use planning and development proj- A major strength of the program is ULI’s unique ability ects, programs, and policies. Since 1947, this program to draw on the knowledge and expertise of its members, has assembled well over 400 ULI-member teams to help including land developers and owners, public officials, sponsors find creative, practical solutions for issues such academics, representatives of financial institutions, and as downtown redevelopment, land management strate- others. In fulfillment of the mission of the Urban Land gies, evaluation of development potential, growth manage- Institute, this Advisory Services panel report is intended to ment, community revitalization, brownfield redevelopment, provide objective advice that will promote the responsible military base reuse, provision of low-cost and affordable use of land to enhance the environment. housing, and asset management strategies, among other matters. A wide variety of public, private, and nonprofit or- ULI Program Staff ganizations have contracted for ULI’s advisory services. Gayle Berens Senior Vice President, Education and Advisory Group Each panel team is composed of highly qualified professionals who volunteer their time to ULI. They are chosen for their Thomas W. Eitler Vice President, Advisory Services knowledge of the panel topic and screened to ensure their objectivity. ULI’s interdisciplinary panel teams provide a holis- Beth Silverman tic look at development problems. A respected ULI member Director, Education and Advisory Group who has previous panel experience chairs each panel. Daniel Lobo Director, Awards and Publications The agenda for a five-day panel assignment is intensive. Kathryn Craig It includes an in-depth briefing day composed of a tour of Senior Associate, Education and Advisory Group the site and meetings with sponsor representatives; a day of hour-long interviews of typically 50 to 75 key commu- Carly Bushong Senior Associate, Education and Advisory Group nity representatives; and two days of formulating recommendations. Long nights of discussion precede the panel’s James A. Mulligan conclusions. On the final day on site, the panel makes an Senior Editor oral presentation of its findings and conclusions to the David James Rose sponsor. A written report is prepared and published. Managing Editor Christine Stinson, Publications Professionals LLC Because the sponsoring entities are responsible for signifi- Manuscript Editor cant preparation before the panel’s visit, including sending extensive briefing materials to each member and arranging Betsy Van Buskirk Creative Director for the panel to meet with key local community members and stakeholders in the project under consideration, Deanna Pineda, Muse Advertising Design participants in ULI’s five-day panel assignments are able Graphic Designer to make accurate assessments of a sponsor’s issues and Craig Chapman Senior Director, Publishing Operations Norfolk, Virginia, December 14–19, 2014 3 Urban Resilience Panels WITH MUCH EXTREME AND DAMAGING weather panels to assess how cities can better prepare for changes occurring in recent memory, leaders in cities around the deriving from global climate change. Those changes range world are thinking about how to become more resilient from rising sea levels and exacerbated drought and air in the face of those challenges. Resilience has taken on temperatures to more extreme conditions, such as floods many meanings in many different contexts. The Urban and wildfires. Land Institute has joined a number of partner industries to The objective of such panels is to offer advice and guid- create a shared definition of resilience: the ability to pre- ance to communities that will assist their formulation of pare and plan for, absorb, recover from, and more suc- plans and policies and that will, in turn, create stronger cessfully adapt to adverse events. Implied in that definition responses to and recoveries from such events. is the ability not just to recover and bounce back but also to bounce forward and thrive. The Kresge Foundation has provided generous funding support to ULI to undertake a series of Advisory Services 4 A ULI Advisory Services Panel Report Acknowledgments THE URBAN LAND INSTITUTE WISHES to thank the The Kresge Foundation also deserves sincere thanks for city of Norfolk for its support in sponsoring this panel, par- its generous support of ULI’s Urban Resilience Program— ticularly Christine Morris, Ron Williams, George Homewood, support that has made these panels possible. The panel Richard Broad, Lenny Newcomb, Peter Chapman, and would also like to thank the more than 70 stakeholders Katerina Oskarsson, who ensured the panel’s access to from the Norfolk community who graciously provided their critical information and perspectives and facilitated an ex- time and perspectives during the stakeholder interviews. cellent seamless week of work. Thank you for inviting us This group of interviewees included elected officials, local into your community to share your challenges and to work business owners, community members, and municipal toward solutions. ULI would also like to thank Ray Gindroz staff members. Throughout the week, the ULI panel was of Urban Design Associates and Thom White of Work Pro- continually reminded of Norfolk’s rich and diverse history gram Architects for their wealth of knowledge and their and the commitment of its residents to protecting it. contributions to the success of the panel. Norfolk, Virginia, December 14–19, 2014 5 Contents ULI Panel and Project Staff ...............................................................................................................................8 Background and the Panel’s Assignment ..........................................................................................................9 Summary of Recommendations ......................................................................................................................12 Market ..........................................................................................................................................................13 Valuation .......................................................................................................................................................16 Planning and Design ......................................................................................................................................18 Implementation ..............................................................................................................................................27 Catalytic Concepts .........................................................................................................................................32 Conclusion ....................................................................................................................................................36 About the Panel .............................................................................................................................................37

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