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HomeMy WebLinkAboutZC-21-088 PresentationSITE LOCATION f r • � • A ► v f ` R �,., Ian w � w • � R L AV 17- LLL • I moo ■ i L f 0 . _ i pV T 3 � f - y�J�^ 4 ®r W� !N L � \ �4 a ,,• Sb � t `{ _I= PROPOSED ZONING ; :; t �J • r- Tltsprodretts trmormawkalpirpcaes akdmay kotiaue beek pre pare dibrorbe ].1 0 0.04 0.1 M Iles §r Hable for legal, a kglkeerib g, oraii rueylkg pli rpoaes. Tie Clf of Fort Wort& X91mes I re spok a b Ilk ib r li a awi rwV of zakl dala. NCTCOO ORTHOPHOTOGRAPHY L eeend A rle r ra 12 zoning Oul line Ova rlay d tair tits #Null 214d7 AO APZ1 APi2 CIRCLE PARK Cz DOW14TOWN URBAN I.35W CENTRAL F35W NORTH F35W SOUTH TC U TUP 1 TUP 2 TUP 3 TUP4 TUP5 TUPB TUP7 PARCELS Neighborhood Orga n¢aiions — Reg final Arlerra Is — F reem ys Sireet — Tarrant Counly Street Parks Lakes Orly Lim Ex1ralerrdorialJurisdiclian [ETJ] ® Condrlranal use Permit FORT WORT H, J 1J120 9.49 AM 1. 2,678 RJ-. RASH I l . -"- POCKET PARKS ACCESS ALLE 18 TOWN HOMES A pY171 . - ,• r, x t. F AC I ur, fl-K :4" _ fi i�'i��3t t,�#t �� s'� � �. s; ;�,�� j } h f�yy.'� "�� �f_� ���`�` y�� � '„�,M.�-vs M � 'sR.,�ii. '• At Vr Fa! �J�a *� .,Y""�' �y�'.' l'" •� r`k r.�� t8� r�.u.?-'�,p .,-- v,I. 3 - :• ::�� ~- ti�. ' �--;:,,,. i 1 s'r day - �+� w9'�,r.' x 1p..•� ; t _ ��.., ®` 'ys 1 .�, , Cz,tY��i o` ,p... '�.-. �1: 2,, :••� �-e� �'�* -' � g, -. s_ — _ .:' _ _. �$F��.. r+ ..zfs. , F .!• .... t G'4 . r..y � . �y++� :y, e'1. ''�,t _ r - _ - _ _ _ - - ` d; : �� r�;• y isle. f va - . ANTICIPATED INBOUND TRAFFIC DISTRIBUTION West Malv6-y 11! "AJ Jr > 6 . T%.z a; All r7 7- > L -Ca-lmont--- .10 v Oogo -.,i - 10 4 % 4F- Opf 100, # A North �c,� East South ANTICIPATED OUTBOUND TRAFFIC DISTRIBUTION West ct� - ---------lie ..."I A Irk a..+ = '" � �t �.1.��► w, 7 s '41 i_ •. ,anM„ij11 i R! Am. me gap P. 3+L North H i i ,� r !lot AL i L as East South NEIGHBORHOOD OUTREACH October 271", 2020 - Initial Meeting with then Council Member Brian Byrd and current Council Member Michael Crain - Gave general information about the development and asked for their input November 17t", 2020 - Met via Zoom with representatives of the Ridglea North Neighborhood Association and the Ridglea Hills Neighborhood Association - Introduced plan for the development in the area with a high-level overview December 15t", 2020 - Met via Zoom with representatives of the Ridglea North Neighborhood Association and the Ridglea Hills Neighborhood Association - The architects for the development, WDG, presented the concept plan, massing study, and review of planned architectural features January 20t", 2021 - Met via Zoom with representatives of the Ridglea North Neighborhood Association and the Ridglea Hills Neighborhood Association - Update on the general progress report of the development June 20t", 2021 - Held an in person open house at Ridglea Country Club for neighbors within the Ridglea North Neighborhood Association - Presented current plans and answered questions from the neighbors. Attended by approximately 40-50 members of the HOA ""ANIN A 7 16 1 970[Nl1►DI[! A! I i rtoo ,how 1 PROJECT TIMELINE 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 Planning and 7/14/2021 Zoning City Council 8/24/2021 utility Construction Community Construction Opening - Period May 2024 Planning and Zoning Hearing —July 14, 2021 City Council Hearing — August 24, 2021 Construction Start — November 2022 Community Opening — May 2024 Construction Completion — December 2024 UNIT MIX TAXES AND IMPACT FEES Taxing Unit City of Fort Worth Fort Worth ISD 2020 Tax Rate 0.7475% 1.3784% Current Assessed Current Annual Value $6,684,764 $6,684,764 Tax Revenue $49,969 $92,143 Total 2.1259% $1421111 Est. 2024 Stabilized Value $97,000,000 $97,000,000 - Overall project value of $97M Est. 2024 Annual I Annnual Increase Tax Revenue I in Tax Revenue $725,075 $1,337,048 $675,106 $1,244,905 $2,062,123 1 $1,920,011 - Generate $2.1M in annual taxes to City and Fort Worth ISD - Today the site generates $142k in annual taxes JPI DEMOGRAPHICS Jefferson Vantage $991000 34 Jefferson Reserve $91,000 32 Jefferson Boardwalk $100.,000 35 Jefferson Eastshore $1261000 37 Jefferson Alpha West $117,000 36 Jefferson 1900 $83,000 33 Jefferson Silverlake $1551000 40 Jefferson Mockingbird $156,000 34 Jefferson Promenade $134,000 36 Total/Average $118,?000 35 - The average household income among residents across JPI's most recent developments is $118,000 - The average age of residents across JPI's most recent developments is 35 years old. SCHOOL IMPACT Jefferson Vantage 420 32 7.6% Jefferson Reserve 456 24 5.3% Jefferson Boardwalk 424 17 4.0% Jefferson Eastshore 286 7 2.4% Jefferson Alpha West 409 10 2.4% Jefferson 1900 416 14 3.4% Jefferson Silverlake 371 16 4.3% Jefferson Mockingbird 354 2 0.6% Jefferson Promenade 387 4 1.0% Total/Average 3,523 14 3.6% - The average percentage of children across JPI's most recent developments is 3.6% of occupied units - Jefferson Ridglea Village will produce 15 school aged children (404 units * 3.6%) TRAFFIC IMPACT STUDY -Wft- • Confirmed Traffic Study Assumptions - Study Area ■ IH 30 interchanges with Bryant Irvin and Horne ■ Camp Bowie intersections with Bryant Irvin and Horne ■ Site border intersections ■ Site access locations Background Growth Rate ■ 2% per year - Site Traffic Distribution ■ To be confirmed upon receipt of data collection ■ Anticipated to be received week of 6/14/21 ➢ Headquartered in Dallas -Fort Worth, with over 30 years of development, construction and investment management experience. ➢A fully integrated team of professionals in specialized fields: Development, Acquisitions, Construction, Asset Management, Finance/Accounting and Project Capitalization. ➢A development and acquisition history of over 330 projects consisting of over 98,000 homes located in 140 cities covering 27 States and Canada, valued at over $13.2 billion. ➢Currently 30 communities under various phases of development, consisting of over 10,000 homes located in 17 different cities at a value of over $2.9 Billion. ➢ In DFW, JPI has developed 51 apartment communities totaling 20,122 homes. 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Ilk .rl i ��- ■111■r ari ■n A411I1f1 d11141111 nL1nlIII IjWill � A� k �� ■ � 7 111NIIfl 'U1t4111 jf klfllil: NIIIIPh + �" �_� � Y ilEllllp 1111V4111" IILllill w IILVAI41 A A•��'I■11 ,' _ - ��I �� 111 IN 'f ® - �,.; �; ry I'I�IY �■■ �' qi■ 111111IIl 1 [I{Il�ii I1:11111 �A_.�1�•�Il l .i �' it C�1■ll c' a '!14[..r. # � - �,fi'i'��� E1!I• , iIIIIEA� I1111IIV%tli1 Eql ■eag#�RBI!ilrl■iYr 311i4�.III s'r 1����I !7�9■■a iii is is Ail TRAFFIC GENERATION COMPARISON Land Use Description ITE Code Intensity /Units Daily AM Peak Hour PM Peak Hour In Out Total In Out Total Existing Site Single -Family Detached Housing 210 45 425 8 25 33 28 17 45 Proposed Site Multifamily Housing (Low -Rise) 220 36 264 1 5 6 4 3 7 Multifamily Housing (Mid -Rise) 221 368 2,002 34 98 132 99 63 162 Total New Site Traffic Anticipated Increase 2,266 1,841 35 27 103 78 138 105-• 103 66 169 124 • Anticipate minimal change in delay at study area intersections with additional traffic - Traffic spread out across numerous points of access