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05-02-16 JDA
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05-02-16 JDA
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<br />Joint Development Authority <br /> TCAAP Redevelopment Project <br />and ownership multifamily would also be developed in the Town neighborhood. Each of the three neighborhoods would <br />have an HOA to maintain common areas. While Pulte Homes is identified as the primary single family developer, the <br />Opus/Pulte team noted it would work with other homebuilders (they identified Hanson Builders as part oftheir team at <br />the Review Committee interview) to provide additional product differentiation especially at the higher price point. <br />The Ryan/Lennar team identifies Lennar as the lead for the single family component of the development. As a national <br />builder, Lennar has access to a catalog of home styles and designs across the country. Lennar sees the Creek <br />neighborhood as influenced by the surrounding natural environment with traditional architectural styles. The Town <br />neighborhood would be the “social epicenter” with maintenance-free housing products. Along the east-west pedestrian <br />corridor, Lennar proposes housing to be architecturally dominant with garages in the rear. The Hill neighborhood would <br />have larger homes on larger lots. Lennar noted it may work with other homebuilders to provide additional product <br />differentiation, but their catalog is extensive and had the capacity to provide desired differentiation. <br /> <br />ORGANIZATIONAL STRUCTURE <br />The Alatus LLC proposal differed from the Opus/Pulte and Ryan/Lennar proposals. Alatus and its Principal Bob Lux <br />would will serve as master developer and thereby be responsible for overall coordination of the master developer team. <br />Alatus is partnered with Inland Development Partners (retail, office, and commercial) and Tradition Development Corp <br />(single family residential). The Alatus LLC proposal focuses on a small core team of principals with a larger, more diverse <br />set of advisors. Alatus has committed to utilizing other large developers in partnership for specific projects. <br /> <br />The Opus/Pulte and Ryan/Lennar teams demonstrated similar organizational structures to one another whereby a <br />strong commercial developer and strong residential developer forms the partnership. They both indicted they might <br />employ additional consultants or niche developers to their team, but they stated they had the organizational structure <br />between the partners to keep the majority of work ‘in-house.’ <br /> <br />TOWN CENTER <br />Each of three shortlisted firms acknowledged the town center portion of Rice Creek Commons to be the most <br />challenging development area. <br /> <br />Alatus LCC stated development would begin with the residential neighborhoods and town center. Retail would include a <br />regional grocer and a national fitness provider. Alatus reinforced the town center as not only central to the site but also <br />central to the creation and success of the brand and ‘place’ of RCC. They stated the getting the town center right early <br />was important to the other components of the site including single family residential and the attraction of major <br />corporate user. <br /> <br />Opus/Pulte’s proposal indicated the development of the town center to be a second phase of site development. They <br />expressed concern about the phasing of the town center development. <br /> <br />Ryan/Lennar stressed their commitment to making the town center unique and successful but cautioned moving quickly <br />with the development of it. They reiterated other regional attempts of suburban town centers have yielded mixed <br />results and in some cases ‘ghost towns’. The Ryan/Lennar team felt strongly maximizing development energy in other <br />portions of the site would ensure a positive development outcome for the full site. <br />
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