Real Estate Lawrenceville Pa - Download as PDF by gpd18419

VIEWS: 41 PAGES: 8

Real Estate Lawrenceville Pa document sample

More Info
									Barron Commercial Real Estate
Pittsburgh PA

Proposal Summary
Garden Theater Block – FULL BLOCK
Developer’s Experience: Developer has considerable experience redeveloping small-scale
historic properties, most notably along Butler St in Lawrenceville. Most recently Developer
completed renovation of the vacant structure at corner of Federal St and E North Ave which now
houses Crazy Mocha coffee shop and he is currently working on a renovation of 4 E North
Avenue.

Founder Bill Barron remains as the active principal in the company.

Development Team: In addition to Bill Barron, the team includes:
      Architect:
         o Strada prepared schematics but it is not clear if they would serve as project
             architect.
      Contractor:
         o None identified, but SOTA Construction services has been mentioned in the past.

Proposed Program: Proposes preservation and restoration of all of the existing historic
properties, including those fronting on Federal St, but would demolish the Garden Theater
auditorium.

       Bradberry- Proposed as 8 one-bedroom apartment units and 4 two-bedroom apartment
       units (combining 3rd and 4th floors). No elevator is proposed.

       Masonic- 3 commercial first-floor storefronts and 8 loft apartments on the upper floors.

       Garden Theater- Build to suit for unidentified tenant. Auditorium to be demolished to
       provide access and parking for the apartment tenants. Includes removal of “center
       marquee”.

       8 W. North- Commercial space on the first floor with 3 apartments above.

       6 W. North- Single-family residence.

Garden Theater Block Proposal Summaries
Northside Tomorrow LLC -- www.gardentheaterblock.com
July 1, 2010                                                                                Page 1
       4 W. North- Not defined. Proposal says the future of the property “is to be determined
       pending action by current owner”.

       2. W. North- Not defined. Proposal says the future of the property “is to be determined
       pending action by current owner”.


       Federal St. Frontage-
              - 1107 Federal: To be renovated as single user live/work space.
              - 1109-1111 (vacant lots): Undetermined and dependent on experience with
                   development of other buildings.
              - 1113-15 Federal: 2 commercial first-floor storefronts and 2 to 4 apartment
                   units.

Proposed Timeline:

Developer offers no development timeline but estimates that renovations of the Bradberry would
take 8-10 months, but only after the “Pre-development” exterior construction by URA has been
completed. For remaining structures, developer anticipates taking one building at a time in
sequence, from Bradberry to the Masonic Building and continuing around the block.




Garden Theater Block Proposal Summaries
Northside Tomorrow LLC -- www.gardentheaterblock.com
July 1, 2010                                                                              Page 2
Wells and Company
Spokane, Washington
www.wellsandcompany.biz

Proposal Summary
Garden Theater Block – FULL BLOCK

Developer’s Experience: Developer has over 30 years of experience redeveloping historic
properties mostly in Washington State and Idaho. Company currently owns or holds controlling
interest in 300 apartment units and 300,000sf of commercial space. Has experience with a variety
of HUD/FHA and Historic Tax Credit financing.

Previous projects include the historic Steam Plant, an 80,000 s.f. mixed-use renovation in
Spokane, Washington. The project includes a restaurant, microbrewery, retail, and office space.
The project won a National Trust Historic Preservation National Honor Award.

Other projects include: the Morgan Building, Carnegie Square, and Riverside Court
Townhouses. The developer also has experience working on historic theatre projects including
the Martin Woldson Theater at the Fox and the Bing Crosby Theater, both in Spokane,
Washington.

Founders Ron and Julie Wells remain as the active principals in the company.

Development Team: In addition to Ron and Julie Wells, the team includes:
      Architect:
         o Not selected, but working relationship begun with Pfaffmann + Associates.
         o Ron Wells is a licensed architect. He and another architect on staff at Wells and
             Company, Ron Wendle, will have significant architectural involvement.
      Contractor:
         o Not selected
      Mortgage Broker:
         o Greystone, New York, will assist with financial servicing and FHA loan
             packaging.

Proposed Program: Proposes restoring all the historic buildings along W North and Reddour,
including preservation and restoration of the Garden Theater auditorium. Wells and Company
will conduct an evaluation of the existing structures to assess the renovation potential, but the
project proposal assumes that the demolition of some of the existing structures will be necessary.
Therefore, the proposal includes new construction mixed-use in-fill along Federal St.

       Bradberry- Proposed as 16 one-bedroom apartment units., with elevator access shared
       with the Masonic.



Garden Theater Block Proposal Summaries
Northside Tomorrow LLC -- www.gardentheaterblock.com
July 1, 2010                                                                                Page 3
       Masonic- Program includes a first floor restaurant / brew pub and 9 apartments on the
       upper floors.

       Garden Theater- A phased approach that would involve preparing the theater as a tenant
       ready space for a multi-purpose performing arts center. The work includes interior and
       exterior stabilization and historic rehabilitation. Phase two involves securing a long-term
       operator.

       8 W. North- Commercial space on the first floor with apartments above. Shared elevator
       with the Garden Theater.

       6 W. North - Apartments on all floors.

       4 W. North- Developers will evaluate the potential for renovation; assuming that is not
       feasible, the proposal includes construction of a new building that would stretch back
       along Federal St. This portion would be similar to JRA’s original plan.

       2. W. North- Developers will evaluate the potential for renovation; assuming that is not
       feasible, the proposal includes construction of a new building in rear stretching along
       Federal St.

       Federal St. Frontage- Developers will evaluate the potential for renovation; however,
       based on prior analyses, the proposal assumes that renovation is not feasible, so includes
       a new mixed-use building along Federal St.

Development Timeline:

Developer contemplates two phases, with contemporaneous renovations of the varied structures
in Phase One, and renovating and outfitting the Garden Theater for identified operator occurring
in Phase Two.




Garden Theater Block Proposal Summaries
Northside Tomorrow LLC -- www.gardentheaterblock.com
July 1, 2010                                                                                Page 4
Zukin Development Corp.
Philadelphia, PA
www.zukinrealty.com

Proposal Summary
Garden Theater Block – FULL BLOCK
Developer’s Experience: Principal Wayne Zukin is an attorney with 20 years experience in real
estate. Zukin Realty was established in 1997 and provides development, management and
brokerage services in both commercial and residential real estate. The development arm has
specialized in historic properties in Philadelphia and West Chester PA, including the NW Ayer
Building, a 130,000sf Art Deco building converted to 56 condo units and three commercial
spaces. Other projects include several 3-story mixed-use Victorian-era properties in historic
downtown West Chester.

Locally, Zukin owns the 50,000sf mixed-use building at the corner of Forbes and Murray in
Squirrel Hill that currently houses a drugstore as anchor tenant. Zukin has partnered locally with
Craig Totino and Vegrin Hightower of Collaborative Ventures. Zukin is seeking to expand his
real estate holdings in Pittsburgh.

Development Team: In addition to Zukin and Totino, the team includes:
      Architects:
         o Robert Indovina, Indovina associates Architects, Pittsburgh
         o Alan Metcalf, Metcalfe Architecture and Design, Philadelphia
      Contractor:
         o DB Phillips & Co., Pittsburgh

Proposed Program: Proposes preservation and restoration of all of the existing historic
properties, including those fronting on Federal St, but would demolish the Garden Theater
auditorium.

       Bradberry- Proposed as 16 one-bedroom apartment units.

       Masonic- Program includes 3 first floor retail storefronts which could be combined for a
       restaurant, and 5 loft apartments on the upper floors.

       Garden Theater- Small retail in front bays and a 10,000sf specialty grocery. A portion of
       the auditorium would be demolished to provide parking and loading space for the
       Bradberry, Masonic and Garden Theater spaces.

       8 W. North- Commercial space on the first floor with 3 apartments above. The proposal
       says “try to save the façade”.


Garden Theater Block Proposal Summaries
Northside Tomorrow LLC -- www.gardentheaterblock.com
July 1, 2010                                                                                 Page 5
       6 W. North- 1700sf office space. No residential.

       4 W. North- First floor retail with 3 apartments on upper floors.

       2. W. North- Retail space

       Federal St. Frontage-
              - 1107-1111 Federal: Proposed as surface parking, with potential for future
                   development as a residential tower.
              - 1113-15 Federal: 3000sf first-floor retail with 3 apartments above.

       Future Residential Tower- Developer proposes to reserve the right to develop an 85 unit
       residential tower above the parking areas along Federal St and the site of the demolished
       Garden Theater auditorium.

Development Timeline:

Developer anticipates a schedule covering 8 months from start of design work to completion of
building renovations for Bradberry, Masonic and Garden. Remaining buildings would be
renovated as leases were secured.




Garden Theater Block Proposal Summaries
Northside Tomorrow LLC -- www.gardentheaterblock.com
July 1, 2010                                                                               Page 6
Aaron Stubna & William Porco
Coraopolis PA
www.gardentheatervision.org

Proposal Summary
Garden Theater Block- GARDEN THEATER ONLY

Developer’s Experience:
Aaron’s experience is primarily as a business owner (barbershop) and Filmmaker. He has
organized many events: Art Crawls, Wine Crawls, Farmers Market to promote Bellevue.
Aaron is currently spearheading the alcohol initiative to make Bellevue a wet community and has
booked many musical acts and operated Club Perqe in Bellevue.

William Porco has general contracting experience that includes movie theaters and other
projects. Listed experience includes: Star City Cinemas, Squirrel Hill Theater, Cheswick
Theater, Waterworks Theater, Southside Works Theater, Willow Restaurant, Luma Restaurant,
and Red Oak Café.

Development Team: The team includes:
      Architect:
         o Edge Studio, Pittsburgh www.edgestudio.com
      Contractor:
         o Porco Enterprises, Pittsburgh
      Theater Consultant:
         o Cinema Consultants and Services International, Pittsburgh

Proposed Program:
Garden: A multi-purpose theater that would show a variety of films as well as live
entertainment. Theater would also host a non-profit that teaches local youth about filmmaking.
The retail spaces would be operated by a wine bar and a desert café.

The existing interior of the Garden Theater would be gutted and completely replaced. The new
interior is described as “Modern Style is a clean, streamlined furniture and architectural style
from the 1930s with roots in the German Bauhaus School of Design and Scandinavian modern
design.”

The developer wants the Garden to be the definitive cinema of choice for film lovers and
filmmakers alike. The goal is to be the most successful Art House Cinema in Pittsburgh.

Development Timeline:
Developer anticipates a total construction period for the interior of 5 months. No projection is
provided for exterior renovations.


Garden Theater Block Proposal Summaries
Northside Tomorrow LLC -- www.gardentheaterblock.com
July 1, 2010                                                                                 Page 7
RESACA LLC
Pittsburgh, PA

Proposal Summary
Garden Theater Block – BRADBERRY BUILDING ONLY
Developer’s Experience: Developer Jim Welker, principal of RESACA, has renovated
approximately 30,000 SF of apartment space on the Northside. He has received a City Historic
Preservation Award for renovation of a mixed-use building on Western Avenue. The company
has been operating for 15 years and the principal remains the active head of the operation.

Development Team:

RESACA is a family run company, staff is limited to family members who supervise
construction and tenant relations. All other services are contracted for. Jim Welker is the
registered general contractor for RESACA’s projects, and no architect was identified in the
proposal.

Proposed Program:

       Bradberry- 16 one-bedroom apartments.

       The developer only submitted for the Bradberry.

Development Timeline:

Developer projects 18 months from acquisition to completion.




Garden Theater Block Proposal Summaries
Northside Tomorrow LLC -- www.gardentheaterblock.com
July 1, 2010                                                                                  Page 8

								
To top