CONSCIOUS URBAN PLACEMAKING Kronberg Wall is a boutique design practice, formed by a multidisciplinary team with expertise in architecture, planning, urban design, policy making and real estate development. We are contextual thinkers who consider the physical, social, and temporal conditions of the spaces we work on in a multifaceted approach to the creation of structures and spaces. We create distinctive places where people’s experiences are as elevated as our architecture— a reflection of our sensitivity to every transition, from the geography of a project, to its role and place in its community, to the moments people spend inhabiting it. WE ARE CONSCIOUS URBAN PLACEMAKERS APPROACH TO PLACEMAKING NUMBER OF CHILDREN, & ELDERLY WOMEN, NETWORKS SOCIAL OWNERSHIP VOLUNTEERISM LOCAL BUSINESS LAND-USE PATTERNS STEWARDSHIP DIVERSE COOPERATIVE PROPERTY VALUES EVENING USE NEIGHBORLY FUN ACTIVE VITAL PRIDE SPECIAL REAL RENT LEVELS FRIENDLY USEFUL INTERACTIVE STREET LIFE USES & INDIGENOUS SOCIABILLITY ACTIVITIES CELEBRATORY RETAIL SALES WELCOMING SUSTAINABLE PLACE SAFE CONTINUITY ACCESS & COMFORT CLEAN CRIME TRAFFIC DATA LINKAGES & IMAGE “GREEN” STATISTICS PROXIMITY WALKABLE SITTABLE CONNECTED SPIRITUAL CHARMING ATTRACTIVE SANITATION READABLE HISTORIC MODE SPLITS RATING WALKABLE CONVENIENT ACCESSIBLE CONDITIONSBUILDING ENVIRONMENTAL ORIGINAL DIAGRAM BY: TRANSIT USAGE DATA ACTIVITY PEDESTIRAN PATTERNS PARKING USAGE WE ARE CONSCIOUS URBAN PLACEMAKERS ATLANTA NEIGHBORHOODS & MOBILITY ARMOUR I-75 I-85 ARMOUR ATLANTIC M I-75 STATION I-85 BLANDTOWN I-85 N. DRUID HILLS I-75 M VIRGINIA HIGHLANDS ATLANTIC MMIDTOWN STATION DECATUR BLANDTOWN M M I-85 M PONCEY-HIGHLANDSN. DRUID HILLS I-75 M VIRGINIA HIGHLANDS MIDTOWN LITTLE 5 POINTS ENGLISH AVENUE M DECATUR AVONDALE INMAN PARK LAKE CLAIRE M M VINE CITY M M M ESTATES DIXIE HILLS M PONCEY-HIGHLANDS OLD FOURTH LITTLEM 5 POINTS MENGLISHM DOWNTOWNAVENUE M AVONDALE M M WARD INMAN PARK LAKE CLAIRE M OAKHURST M M VINE CITY REYNOLDSTOWNM ESTATES DIXIE HILLS MM OLD FOURTH KIRKWOOD CASTLEBERRY DOWNTOWN M M EDGEWOOD M M M WARD KWA OAKHURST M M HILL M REYNOLDSTOWNCANDLER PARK EAST LAKE KIRKWOOD WESTHAVEN CASTLEBERRY M M KWA EDGEWOOD WESTVIEW EAST LAKE HILL CANDLER PARK HIGHWAY WESTHAVEN M SUMMERHILL WESTENDWESTVIEW BELTLINE FUTURE TRAIL MECHANICSVILLEM GRANT PARK EAST ATLANTA WESTEND SUMMERHILL BELTLINE COMPLETED TRAIL MECHANICSVILLE GRANT PARK EAST ATLANTA MARTA RAIL LINE BEECHER HILLS M MARTA RAIL STATIONS BEECHER HILLS ADAIR PARK ORMEWOOD I -20 ADAIR PARK ORMEWOOD I -20 M M PARK M PARK WE ARE CONSCIOUS URBAN PLACEMAKERS ATLANTA NEIGHBORHOODS THE BELTLINE CANDLER PARK SWEET AUBURN FOX THEATRE LITTLE FIVE POINTS GRANT PARK FARMERS MARKET OLD FOURTH WARD PARK WE ARE CONSCIOUS URBAN PLACEMAKERS RECENT WORK EDGEWOOD SUMMERHILL WEST MIDTOWN ORMEWOOD PARK GRANT PARK DULUTH OTTLEY ARMOUR WEST END REYNOLDSTOWN WE ARE CONSCIOUS URBAN PLACEMAKERS PROJECT TYPES NEIGHBORHOOD ACTIVATORS ADAPTIVE REUSE PLACES OF ENCOUNTER TRANSFORMING PAST INTO FUTURE PRESERVING CULTURE CURATING GREAT & HISTORY PLACES URBAN INFILL URBAN PLANNING RESIDENTIAL USE URBAN INFILL IBERVILLE OFFSITE REHABILITATION 2014 NATIONAL TRUST AWARD FOR EXCELLENCE IN HISTORIC PRESERVATION 2015 CONGRESS FOR THE NEW URBANISM GRAND PRIZE CHARTER AWARD 2016 SOUTHFACE FULCRUM AWARD 2017 RUDY BRUNER AWARD SILVER MEDALIST LA FRANCE WALK URBAN PLANNING GEORGIA AVE MASTER PLAN BUILDING KEY Commercial: Existing Building Commercial: New Construction Residential: New Construction Existing Building Not in Scope Outdoor Patio HANK AARON DR 660 XX SF 1 story retail, 2 story office 670 21,510 SF 3 story office 690 35,560 SF 3 story office GEORGIA AVE 19 6,000 SF 2 story restaurant / retail 25 776 SF* 1 story food stand: cheesteaks, hotdogs 33 3,910 SF 1 story retail / restaurant 39 6,636 SF* 2 story entertainment: music venue, movie cinema / restaurant, special events 59 2,564 SF* 1 story restaurant: family friendly 60 2,535 SF* 1 story w/ mezzanine + warehouse: brewery, brew-pub, artist space 63 4,678 SF* 1 story + basement: multi-concept in one-music, bar, speakeasy 68 1,578 SF* 1 story retail: coffee and/or roaster, cafe 70 8,135 SF 1 story retail / restaurant 71 5,512 SF* 1 story retail + warehouse: tea house, specialty food 73 911 SF* 1 story retail: ice cream, donuts, bakery, specialty food 85 4,619 SF* 1 story restaurant / bar 92 3,219 SF 1 story neighborhood market: small daily needs, locally sourced, grab-and-go BASS ST, REED ST 20 5,000 SF 1 story office 674 1,600 SF 1 story retail / restaurant *Indicates net area, all others are gross area GEORGIA AVE REDEVELOPMENT 1607 BELLWOOD MIXED USE URBAN INFILL - ATLANTA THE ELWAY INLAND TRACT NEIGHBORHOOD ACTIVATORS PARSONS ALLEY DULUTH SUMMERHILL REDEVELOPMENT ADAPTIVE REUSE - NEW ORLEANS OC HALEY OFFICES AND CARRIAGE HOUSES NEW ORLEANS JAZZ MARKET ADAPTIVE REUSE - ALOCHOL BASED DEVELOPMENT MONDAY NIGHT GARAGE WESTSIDE REDEVELOPMENT ADAPTIVE REUSE ATLANTA URBAN DESIGN COMMISSION BIG NERD OFFICE KWA HQ WE ARE CONSCIOUS URBAN PLACEMAKERS INCREMENTAL DEVELOPMENT Unit Program Area 4F: NOI and Cap Rate Analysis Static proforma Prepared July 2011 by Anderson|Kim 0.72 Floor Area Ratio (FAR) formula: Building SF / Land SF 1 1BR - First Fl. 1,024 SF 3 Project Costs 2 2BR - Second Fl. 1,024 SF Land Cost $51,072 6,384 SF parcel $8.00 per parcel SF 8% of project costs 3 1BR (#1) - Second Fl. 512 SF Direct Construction Costs $414,720 $90 per building SF 69% of project costs Indirect Construction Costs $138,240 $30 per building SF 23% of project costs 4 1BR (#2) - Second Fl. 512 SF Construction Costs Subtotal $552,960 $120 per building SF 92% of project costs Project Costs $604,032 Common Area 617 SF 2 4 Residential Subtotal 3,689 SF Net Operating Income Revenue Assumptions: Rate SF monthly rent Annual Rent NR Non-Residential 919 SF Total 4,608 SF #1: 1BR, First Flr. $1.17 1,024 $1,200 $14,400 #2: 2BR, Second Flr. $1.17 1,024 $1,200 $14,400 #3: 1BR, Second Flr. $1.37 512 $700 $8,400 #4: 1BR, Second Flr. $1.37 512 $700 $8,400 19.9% of the building is non-residential. Common Area 617 $45,600 Subtotal: Potential Income from Residential FHA mortgages allow for a maximum of Non-Residential (NNN) $1.36 919 $1,250 $15,000 20% non-residential. Total Building SF 4,608 $5,050 $60,600 Annual Rent $60,600 Gross Potential Income (GPI) 5% Vacancy rate 3,030 $57,570 Gross Operating Income (GOI) Annual Operating Expenses (Res. Only; Non-Res is NNN) Property management 5.00% 2,879 (assumed at 5% of rents) Accounting 300 NNN NR 1 Legal 300 NNN Insurance; property and GL 600 NNN Real estate taxes 1.00% 6,040 maintenance & supplies 500 NNN Utilities; water, trash 300 NNN Contingency 4,000 subtotal $14,919 $14,919 Operating Expenses as % of GOI 26% $42,651 Net Operating Income (NOI) formula; GOI less Operating Expenses Acquisition Cost/Project Cost $604,032 7.06% Cap Rate/ Cash on Cash return no leverage formula; NOI divided by the Acquisiton Cost Cash Flow Acquisition Cost/Project Cost 604,032 Down payment 20% 120,806 Assumes 30 year amorization. 483,226 Monthly payment P&I 5% ($2,594) Annual NOI 42,651 Annual Debt Service (31,129) Annual Cash Flow above debt service and operating expenses: $11,522 9.5% pre-tax return on equity (down payment) Debt Sevice Coverage ratio: 1.37 Annual depreciation @ 27.5 years $16,474 assumes 75% of project cost = value of improvements to land Key inputs in yellow Key outputs in tan 234 West Third Street, Suite D Chico, California 95928-9424 THE 4F: REVISED PLAN “Form Follows Finance” Fourplex (530) 892-9197 v|f AK MAY 2012 Multifamily Housing for the New Economy ANDERSON|KIM [email protected] 0’ 8’ 16’ 32’ architecture + urban design www.andersonkim.com 2015 SMALL DEVELOPER BOOTCAMP WE ARE CONSCIOUS URBAN PLACEMAKERS PARTNERSHIPS & EVENTS STREETS REIMAGINED text CNU + GC COMMUNITY FORUM @ OUR OFFICE ATLANTA STREETS ALIVE WE ARE CONSCIOUS URBAN PLACEMAKERS KWA BLOG kronbergwall.com/blog 887 Wylie St, Atlanta, GA 30316 • 404-653 -0553 www.kronbergwall.com @kronbergwall.