MID-PIKE PLAZA
Community Meeting Preliminary Plan of Subdivision & Phase 1 Site Plan
June 13, 2011
Federal Realty History
1962 Founded by two local Federal government employees and acquires 2 apartment complexes 1965 196 Acquires f first shopping center, C Congressional Plaza ( (location of our current f Corporate Headquarters) 1969 Acquires Wildwood Shopping Center 1984 Federal Realty listed on NYSE, ticker FRT 1997 Begins the first of 10 future phases of redevelopment at Bethesda Row 2007 Rockville Town Square opens with 42 new shops and restaurants 2008 Bethesda Lane opens at Bethesda Row Today Federal Realty owns and operates 2.3 million square feet in Montgomery County, 5.3 million square f t in the DC metro area, feet i th t and 19.9 million square feet across the country
[Link]
Federal Realty Properties in Rockville Pike Retail Brand Area
Rockville Town Square q Congressional Plaza Federal Plaza Mid-Pike Plaza Mid Pik Pl Wildwood Shopping Center pp g Bethesda Row
[Link]
Local Contribution
Our retail tenants in Montgomery County g y y generate nearly $1 billion in annual sales. Generates $60 million in sales tax + $11 million in real estate tax Our properties in Montgomery County contain over 300 retail tenants which generate over 7,300 jobs
Federal Realty is the largest retail owner on Rockville Pike
4
[Link]
Community Events
The Front Row
The Front Row
Congressional Plaza Mommy & Me
Rockville Home & Garden Show
Bethesda Row Arts Festival
[Link]
New retailers to Montgomery County
[Link]
Existing Mid-Pike Plaza
[Link]
Sketch Plan - First Floor
Program Retail Office Residential 433,900 sf 1,192,346 sf 1,726,642 sf 1,544 du Hotel 90,000 90 000 sf 125 keys Total FAR 3,442,888 sf 3.24
Legend
Retail Office Residential Hotel
8
[Link]
Phase 1 Site Plan First Floor
[Link]
Phase 1 Site Plan Typical Upper Level pp
10
[Link]
Phase 1 Site Plan Old Georgetown Road Elevation g
11
[Link]
Northwest View Block 11
Old Georgetown Road & Main Street g
12
[Link]
Southwest View Block 11
Main Street Plaza
13
[Link]
Northeast View Block 12
Old Georgetown Road & Main Street g
14
[Link]
Block 12 Residential
15
[Link]
Block 12 Residential
Main Street
Art
16
[Link]
Northeast View Block 10
Old Georgetown Road & Hoya Street g y
17
[Link]
Landscaping
18
[Link]
Landscaping
19
[Link]
Landscape Plan
20
[Link]
Landscape Plan
21
[Link]
Green Roofs
22
[Link]
Retail Parking Block 11
23
[Link]
Retail Parking Block 12
24
[Link]
Phase 1 Site Plan - Public Benefits: CR Zone Incentives From 13 Categories
Connectivity and Mobility: approx 10%
Neighborhood Services, Minimum Parking, Through-Block Connection, g g g Public Parking
Diversity of Uses and Activities: approx 2%
Adaptive Buildings, Dwelling Unit Mix
Design Quality: approx 5%
Structured Parking, Public Art
Natural Environment: approx 5%
BLTs, Tree Canopy, Vegetated Roof
Advanced Dedication of ROW: approx 4% Transit Proximity: approx 7.5% 7 5% TOTAL: 33% of public benefits 23% of density Public benefits weighted toward phase 1
[Link]
25
Phase 1 Exceptions
DOT Design Exceptions
1. Reduction of Street 1 Right of Way from 80 to 70. 2. Pavement of parking bays on Street A and Street 1 slope towards edge p g y p g of travel lanes. 3. Lane widths of Street A, between Street 2 and Old Georgetown Road reduced to 10. 4. Table Top of the intersection of Street A and Street 2. 5. Reduction in standard intersection radii. 6. Reduction to standard right of way truncations at street intersections. 7. Walls and Stairs in public right of ways. 8. Silva Cells and Infiltration Trenches in the public right of way. 9. Trench Drain at back of curb in the public right of way. 10. Federal Realty requests management control of sidewalks on public streets from curb to building face.
26
[Link]
Sketch Plan - Infrastructure & Mobility Benefits From Mid-Pike y
10% Special Tax creates $118M of revenue for transportation infrastructure ($24M in NPV) Two newly constructed public roads T Two private roads with public use easements i t d ith bli t Undergrounding of all non-district utilities 1 000 bik racks and showers/changing areas i 1,000+ bike k d h / h i in all commercial buildings D Dramatic parking reductions f office t i d ti ki d ti for ffi to induce Metro usage Recreation Loop Extension
27
[Link]
Sketch Plan - Public Benefits From Mid-Pike
$1.1 Billion Net New Tax Revenue ($202M in NPV) 12% public use space including 1.3 acres of land dedicated to parks and urban plazas All buildings will be LEED certified LEED ND (Neighborhood Development) LEED-ND Approximately 215 Moderately Priced Dwelling Units
28
[Link]
Timing
June 2011 Site plan submission p Fall 2011 Planning Board public hearing Summer 2012 Start construction 2014 Delivery of Phase 1
29
[Link]
[Link] Feel Free to Contact with Questions: Evan Goldman, Tommy Mann 301-998-8100 301 998 8100 midpike@[Link]
30
[Link]
Sketch-Plan - Public Benefits: CR Zone Incentives From 16 Categories Connectivity and Mobility: 33.9%
Neighborhood Services Minimum Parking Through-Block Services, Parking, Through Block Connection, Public Parking
Diversity of Uses and Activities: 21.6%
Ad ti Buildings, Care Center, Dwelling U it Mi Adaptive B ildi C C t D lli Unit Mix
Design Quality: 27.6%
Structured Parking, Tower Setback, Public Art, Exceptional Design
Natural Environment: 19.5%
BLTs, Tree Canopy, Vegetated Roof
Advanced Dedication of ROW: 3.7% Transit Proximity: 33% TOTAL: Approximately 139 3% 139.3%
31
[Link]