Cecil Group presentation for Norwich Vibrant Communities Initiative (VCI)

1. DOWNTOWN NORWICH NORWICH’S VIBRANT COMMUNITIES INITIATIVE
December 14, 2011 Presented by:
The Cecil Group, Inc.
FXM Associates
Durkee, Brown, Viveiros & Werenfels Architects
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

2. Agenda
 Project Overview
 Preliminary Market Findings
 Case Studies
 Resources
 Potential Criteria for Evaluating
Properties
 Group Discussions
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

3. Project Overview
 Evaluation of Historic Assets and Buildings
• Leverage historic resources to trigger redevelopment
• Leverage redevelopment to preserve historic resources
• Engage the community and attract stewards and
investors in the future
 Process
• Historic inventory and community context
• Market evaluation
• Target buildings or projects
• Pilot planning project
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

4. Project Overview
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

5. Project Overview
 Study Area
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

6. Project Overview
 Historic
Properties
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

7. Project Overview
 Water Street and Chelsea Harbor Drive
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

8. Project Overview
 Main Street
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

9. Project Overview
 Franklin Square
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

10. Project Overview
 Broadway, Chestnut and Franklin Streets
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

11. Preliminary Market Findings
 Housing Demand Analysis
 Retail Opportunity/Gap Analysis
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

12. Housing Demand Analysis
 FXM’s proprietary Housing Demand Model
considers the following:
• Number of households in 2011 by age and income
• Projected number of households by age and income in
2016
• Mobility by age of householder
• Propensity to own or rent by age of householder
• Income qualified households by rent or sales price points
 Average annual housing demand
estimated for rental or sales within target
geographic area
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

13. 20 – Minute Drive Time
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

14. Estimated Average Annual Demand for Rentals
All Household Types with Qualifying Incomes
2011- 2016
450
396
400
326
350
300
Number of Units per Year
250
187
200
150
100
50
0
Rentals @ $900/month Rentals @ $1100/month Rentals @ $1300/month
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

15. Average Annual Demand for Rentals: Norwich Market Area 2011-2016
Householders under Age 35 and Ages 55 to 74
300
Age 55-74
45
250 Under Age 35
200 40
150
239
23
100
183
50 97
0
Rentals @ $900/month Rentals @ $1100/month Rentals @ $1300/month
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

16. Retail Opportunity/Gap Analysis
 Retail Opportunity/Gap Analysis is a snapshot of
current (2010) consumer expenditures and actual
store sales within a defined geographic area
 Retailers typically use 5- 10- and 15-minute drive
times to define their market areas
 Where consumer expenditures within those drive
times exceed store sales, potential opportunities
exist to expand existing stores/store sales or
attract new retailers
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

17. Retail Opportunity/Gap Analysis
 Potential Opportunities for Several
Business Types
• Furniture Stores
• Radio, Television, Electronic Stores
• Camera and Photographic Equipment Stores
• Specialty Food Stores
• Clothing Stores
• Jewelry Stores
• Luggage and Leather Goods Stores
• Sporting Goods Stores
• Book Stores
• Miscellaneous Stores
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

18. Case Studies
 New Bedford
 Providence
 Newburyport
 Portsmouth
 Plymouth
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

19. Case Study: New Bedford
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

20. Case Study: New Bedford
 Focus on Redeveloping 10 Key
Properties
 Focus on Expanding Occupancy
 Modest Early Goals for Real Estate
Development Returns
 Relocation of Certain Social Service Uses
 Excellent Streetscape and Open Space
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

21. Case Study: Providence
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

22. Case Study: Providence
 Return to Two-way
Streets
 Focus on Filling Ground
Floors with
Entrepreneurial
Businesses
 Building on the Arts/
Culture/’Funkiness’
Brand
 Relocation of Key Social
Service Center
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

23. Case Study: Newburyport
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

24. Case Study: Newburyport
 Focus on
streetscape
 Seasonal events
 Residential reuse
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

25. Case Study: Portsmouth
 Culture, entertainment,
food led the way
 Quality as a residential
community
 Key outcomes
 Time frame
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

26. Case Study: Portsmouth
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

27. Case Study: Plymouth
 Façade improvement
program
 Businesses for
residents – not tourists
 Wayfinding signage
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

28. Case Study: Plymouth
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

29. Local Resources
 Downtown Revitalization Initiative
• Result of 2010 voter-approved $3.38 million bonding
ordinance
 Three Programs
• Code Correction
• Lease Rebate
• Revolving Loan
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

30. State and Federal Resources
 Tax Credit Programs
• Urban and Industrial Site Reinvestment Tax Credit
• Job Creation Tax Credit
• Research and Development Tax Credit
• Fixed Capital Tax Credit
• Machinery and Equipment Tax Credit
• Financial Services Tax Credit
• Angel Investor Tax Credit
• Historic Tax Credits
• New Markets Tax Credit
• Low Income Housing Tax Credit
 Enterprise Zone
 Tax Exemptions
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

31. Potential Criteria for Evaluating Properties
 Base Criteria
• Current Use and Vacancy
 Second Level Criteria
• Catalytic impact on other properties and downtown goals
• Long term benefit
• Match with market/reuse potential
• Property and site conditions
• Location advantages/disadvantages
• Historic contribution
• Ownership circumstances
• Demolition impact if not preserved
 Third Level Criteria
• Short term feasibility
Note: Bold text means strongly
• Financing weighted criteria
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

32. Group Discussions
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects

33. DOWNTOWN NORWICH NORWICH’S VIBRANT COMMUNITIES INITIATIVE
December 14, 2011 Presented by:
The Cecil Group, Inc.
FXM Associates
Durkee, Brown, Viveiros & Werenfels Architects
NORWICH’S VIBRANT COMMUNITIES INITIATIVE
The Cecil Group Inc. • FXM Associates • Durkee, Brown, Viveiros & Werenfels Architects