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Newpark Mall Mixed-Use Project Project Description 6

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Newpark Mall Mixed-Use Project Project Description 6 NewPark Mall Mixed-Use Project Project Description 6/8/2021 Applicant: Brookfield Properties Brookfield Properties develops and operates real estate investments on behalf of Brookfield Asset Management — one of the largest alternative asset managers in the world. From office to retail, logistics to multifamily, and hospitality, mixed-use and development we work across sectors, bringing high-quality, sustainable real estate to life around the globe every day. Brookfield Properties develops and manages premier real estate with a focus on maximizing the tenant and neighborhood experience in addition to the investment and operational performance of the asset. We also focus on integrating leading-edge real estate technologies which enables us to be at the forefront of innovation and sustainability – benefiting not only our tenants, residents and business partners, but also the communities in which we operate. Real estate is about more than floor plans and square feet. Done right, and with imagination, it has the power to energize communities. Transform industries. Enhance lives. We’re Brookfield Properties. We reimagine the unique potential of real estate to build a world that works better for people, businesses, and communities everywhere. We’ve reimagined the role of collaboration in real estate — treating our communities as true partners, focusing on their most vital needs and their highest aspirations, and then developing solutions that exceed expectations for quality, safety, and sustainability. We’ve reimagined how culture can drive success in real estate — promoting a workplace built around respect, trust, and transparency, where doing the right thing is always the smart thing. And we’ve reimagined what’s possible in real estate by focusing on what is ... then looking beyond that to envision what could be ... and finally, applying ingenuity, creativity, and determination to transform it into reality. It’s how we’ve revitalized neighborhoods, from the Arts District in Los Angeles to downtown Perth. Nurtured the next generation of retail entrepreneurs. Collaborated with tenants to reinvent logistics for the digital age. Created entirely new environments where office, retail, and residential spaces seamlessly integrate to deliver unique, first-of-their-kind experiences. By applying boundless imagination to the world’s most complex and significant projects, we are creating a better company for our people and partners, better communities for our neighbors, and a better world for us all. NewPark Place Specific Plan, Project Summary and Land Use Designation The NewPark Mall Mixed Use Project includes re-positioning and revitalization of the NewPark Mall and new construction of retail, residential, and potential office and hotel uses to support a thriving neighborhood and retail center. A phased redevelopment will focus on re-tenanting and re-purposing the mall, build out of the full residential capacity of 1,519 units, new construction of a Costco warehouse store and fuel station, public improvements on nearly 7 acres of privately owned and maintained public open space, and the renovation and enhancement of a 3.18 acre City-owned public park, The Shirley Sisk Grove. At full project buildout, a revitalized NewPark mixed-use neighborhood will provide the City of Newark with a true ‘hub’ and regional destination. The Newpark Place Specific Plan boundary is defined by Mowry Avenue on the north, Interstate 880 ("I- 880") on the east, the east-west segment of Balentine Drive on the south, and Cedar Boulevard on the west as shown in Figure 1, Specific Plan Boundary. The specific plan area is a subset of the 125-acre Greater NewPark Mall Focus Area described in the Newark General Plan (City of Newark 2013) (" general plan"). The general plan also describes this area as the Greater New Park Mall. Figure 1 The Phase A residential and Costco Projects are consistent with the General Plan Regional Commercial designation and with general plan policies. Consistent with the general plan vision for the Greater NewPark Mall/Greater NewPark Focus Area, the specific plan vision focuses on revitalization of the Greater NewPark area into a vibrant, active and thriving mixed-use destination. The specific plan land use plan translates this vision into an arrangement of land uses and amenities. The specific plan is proposed to be amended to reflect the configuration and land uses of the NewPark Mall Mixed Use Project. The Land Use Plan (Figure 2-4) of the specific plan, as well as certain other figures and text, will require amendments to accommodate and regulate the Project. The existing NewPark Mall remains the retail focus. The Mixed Use I designation allows a mix of retail, office, and residential uses, with residential density of up to 160 units per acre. Residential development is limited to this area with the intention to create a high-density residential community adjacent to the mall. As a result, residential density is focused within this area rather than distributed across the entire specific plan area. The Mixed II designation allows a mix of retail, office, and hotel uses, structured parking garages, as well as amenities that include plazas, parks, and an event space are also planned. Retail Vision Brookfield Properties believes in the revitalization of NewPark. For the past several years, we have been responding and adapting to the times and ever changing retail climate. With an $85M reinvestment completed in 2017 NewPark has welcomed new anchors, restaurants and shops always keeping the end user top of mind. Our successful collaboration with the City of Newark and the roadmap provided by the NewPark Place Specific Plan will pave the way to a new destination. This is just the beginning. Brookfield Properties in partnership with the City of Newark will pave the way for NewPark’s vibrant future and implement the vision of the Specific Plan. Our placemaking approach will combine ingredients into the framework of shaping a unique, new development. Retail will be re-envisioned to target a tenant mix in the following categories: Live, Work, Be Well - Taking into account the existing culture and energy of NewPark, we will embrace the art of living well by inviting residents, shoppers and workers to partake in a variety of facilities which are wellness focused and embrace active lifestyle. Shopper trends continue to be more rooted in wellness as we continue to see a shift in consumer spending to these experiences as opposed to traditional goods. Retail Reimagined - While constantly enhancing the collection, an integration of new concepts will be explored to keep up with the changing trends in brick and mortar shopping patterns. Elevated Experiences - From regional purveyor focused dining concepts, to tenants rooted in special offerings will lead to longer visit times and create a wave of repeat customers and regulars alike. Lifestyle Offerings - Combining the convenience of an urban lifestyle with a connection to the community and all-inclusive retail offerings to surprise and delight. People and Places - As NewPark evolves, we will create a place to experience, build community, gather and celebrate. Amble public open space, pocket parks, pedestrian paseos and flex space will be provided. Consistency with General Plan and Specific Plan Policies General Plan Land Use Policies Policy LU-4.4 – The Newpark Mall will begin redevelopment with the Phase A Residential and Costco Projects to create a vibrant regional retail location which provides urban amenities and gathering places. A mixture of high density housing and retail will be built to enhance the regional retail and assist in the area’s revitalization. Policy LU-4.11 – Streetscape features that support active street life and a stronger sense of place such as wider sidewalks, ground floor retail and residential amenity uses, outdoor dining areas, special landscaping and lighting standards and street furniture will be provided. Policy LU-9.1 – The Project will see to diversify the mix of uses at the NewPark Mall to include high density housing with ground floor retail and a retail warehouse (Costco). Policy LU-9.2 – High density housing will be provided. Policy LU-9.3 – The Projects’ design will reflect a long-term vision of a more urban destination with high quality exterior materials, signage, exterior lighting, and landscaping. Specific Plan Land Use, Mobility, and Infrastructure, Facilities and Energy Policies LU-1 – New development falls within the development capacity permitted by the Specific Plan. LU – 3 – The city will prioritize the Projects as they fall within areas designated Mixed Use I. LU-4 – Mixed use development within a single building, as proposed in the Phase A Residential Project, shall be prioritized. LU-5 – The Phase A Residential Project will provide housing for rent. LU-6 – The Phase A Residential Project will provide recreation and open space for residents through amenities including a fitness center, clubhouse, co-working space, bike shop, dog wash room, interior courtyard with a pool, spa, seating areas and BBQ grills, and a roof deck. LU-7 – Residential development occurs within areas designated as Mixed Use I. LU- 8 – Brookfield intends to purchase land from Sears to create a parcel for the Phase A Residential Project. A new parcel will be created on Brookfield owned land and sold to Costco for that project. LU-9 – The project is intended to be developed in phases per conditions of the Vesting Tentative Map. LU-10 – Applications for design review have been submitted for both projects. LU-11 – Each design review application will include a site plan showing how the new construction will integrate with the existing surface parking fields and sidewalks. Construction period retail and open space protection plans will address parking, pedestrian movements, temporary signage, and access to retail spaces and open spaces through the construction period. LU-12 – The NewPark Retail Sub Plan has been provided. LU-24 – The Newpark Parking Sub Plan has been provided.
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