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Cushing Village
   Belmont, MA




                                    Welcome to Cushing Village




           PLANNING BOARD PRESENTATION
           Feb 28, 2012



                                                                 1
Cushing Village
   Belmont, MA



                          Existing parcel data



                             Lot area:
                             +/- 2-Acres




                              Frontage:
                              980-LF
                  26-FT



                             Grade change:
                             26-FT




                                             2
Cushing Village
   Belmont, MA



                                   Existing context




Common St Commercial Bldgs




                                     533 Belmont St      +/- 44’ h


Winters hardware/Belmont Savings




                                    125 Trapelo Rd    +/- 62’/74’ h
                                                          3
Cushing Village
   Belmont, MA
                                                                   Site Concept
                                                             Three Separate Buildings

                    Three Separate Buildings

                  1. Reduce the massing

                  2. Allow free-flow of circulation

                  3. Provide opportunity for varied design




                                                                                  4
Cushing Village
   Belmont, MA
                                                     Site Concept
                                                 Vehicular Circulation




                  Horned Rd Access
                  closed except
                  for emergency




                                       Main
                                     Vehicular
                                       route



                                                                    5
Cushing Village
   Belmont, MA
                                   Site Concept
                                     Car Circulation




                  Ramp Access to
                   underground
                     parking




                                                  6
Cushing Village
   Belmont, MA
                                                     Site Concept
                                                   Parking & Loading




                  Direct Access to
                  Municipal Lot




                   Parking at grade:
                      96 Spaces




                                                             Covered
                                                             Loading
                                                             Dock


                                         Main
                                       Vehicular
                                         route



                                                                       7
Cushing Village
   Belmont, MA
                                      Site Concept
                                             Pedestrian



                  Pedestrian Routes




                                                     8
Cushing Village
   Belmont, MA
                                 Landscaping
                                  Plantings




                  Densely
                  planted
                  walkway


                                      Interface
                  Planting and        w/Trapelo/
                  planter beds        Common
                  throughout          Road changes




                                      Plantings
                                      between
                                      buildings
                                      and property
                                      line




                                               9
Cushing Village
   Belmont, MA
                                        Landscaping
                                       Site Amenities



                 Planters             Benches & Seating areas




         Bike parking racks




                 156 – spaces total

                                                        10
Cushing Village
   Belmont, MA
                                                                                Landscaping
                                                                            Fencing and Screening

                  Good-Neighbor fence   Board fencing with Trellis topper




                                                                                               11
Cushing Village
   Belmont, MA
                                                                                                 Building Design
                                                                                           Three Separate Buildings

                     Three different designs:

                  1. To create visual interest

                  2. To respond to different residential needs

                  3. To provide a high sense of identity                          BUILDING ONE
                                                                                 TheWinslow




                                            BUILDING THREE        BUILDING TWO
                                          The Hyland             The Pomona




                                                                                                                   12
Cushing Village
   Belmont, MA
                                                                Building Design
                                                         Three Separate Buildings




                                                 BUILDING ONE          Retail - 10,600-SF
                                                 Winslow               Apartments-28


                  TRAPELO RD VIEW




                  THE WINSLOW – WILLISTON VIEW


                                                                                  13
Cushing Village
   Belmont, MA
                                                Building Design
                                            Three Separate Buildings




     COMMON ST VIEW       TRAPELO RD VIEW




                      BUILDING TWO                      Retail - 21,600-SF
                      Pomona                            Apartments -66




                                                                  14
Cushing Village
   Belmont, MA
                                                                             Building Design
                                                                         Three Separate Buildings




                     BELMONT ST VIEW                    COMMON ST VIEW




Apartments - 48                        BUILDING THREE
Fitness – 3,600-sf
                                        Hyland




                                                                                               15
Cushing Village
   Belmont, MA
                                                       Building Interiors
                                                   Ground Floor: Commercial

                                                   Retail
    Fitness club




    Parking                                        Restaurant




                   Retail food store   Starbucks




                                                                            16
Cushing Village
   Belmont, MA
                                                                         Building Interiors
                                                                      Typical Residential Level


                  Apartments – All one and two bedrooms

                  Many units have balconies or bays

                  Each building had is own entry


                  Each building has direct access to parking garage




                                                                                              17
Cushing Village
   Belmont, MA



                                                                               Street View
                                                                            Trapelo Rd Streetscape




                  Winters hardware   Common St   The Pomona   The Winslow        Williston Rd



                                                                                                18
Cushing Village
   Belmont, MA



                             Street View
                                Common St Streetscape




  Belmont St      Horne Rd                  Trapelo Rd




                                             19
Cushing Village
   Belmont, MA



                                                                                                        Craft and Detailing
                                                                 BUILDING ONE
                                                             The Winslow
                                                                Arts and Crafts Style
                                                    Brick, Shingles, Clapboard, Wood Details,
                                                         Traditional Windows, Metal Roof



     Decorative detailing




                                                                                                   Brackets and metal roof




    Traditional Window Styles




                                                                                                   ‘Cylinder’ Room w/decorative brick


                            Wood details on porch                          Decorative brick work
                                                                                                                             20
Cushing Village
   Belmont, MA



                                                                                                           Craft and Detailing
                                                         BUILDING TWO
                                                      The Pomona
                                                       Naturalistic Detailing
                                                        Stone and Stucco
                                                      Decorative Metal Work
                        Decorative window


                                                                                                          Recessed balconies
  Juliet balcony
  ‘Twig” balusters




                                                                                                           Clock tower with murals




   Decorative entries

                                  Rustic stone base          Metal trimmed bay window   Decorative Metal Work
                                                             On stone tile face                                                21
Cushing Village
   Belmont, MA




                                                        BUILDING THREE                                 Craft and Detailing
                                                     The Hyland
                                                          Hillside Village:
                                               Brick, Stucco, Decorative Metalwork




    Decorative cornices



                                                                                                Decorative Cornices




      Cast stone detailing
      and Juliet balcony




                                                                                                Decorative façade pattern



                       Cast stone entry arch                          Brick and steel trellis                               22
Cushing Village
   Belmont, MA



                                                 Street View




                  View from Belmont and Common
                                                               23
Cushing Village
   Belmont, MA



                                       Street View




                  View at Trapelo Rd

                                                     24
Cushing Village
   Belmont, MA
                                            Key Points to Note




                  1. Project Size

                  2. Parking

                  3. Traffic

                  4. Residential Setbacks

                  5. Building Height

                  6. Community Benefits


                                                                 25
Cushing Village
   Belmont, MA
                                                                                Key Points to Note




                     1. Project Size

                 •   With each proposal for Cushing Village the building overall area has
                     decreased.

                 • The total residential area has decreased.

                 • There are fewer large units and more one-bedrooms.

                 • Commercial use is on ground floor only.




                                                                                                     26
Cushing Village
   Belmont, MA
                                        Key Points to Note
                                               1. Project Size


                               2012
                             Proposed
                             FAR 2.05



                    2010
                  FAR 2.37

      zoning
     Allowable
      FAR 3.0




                                                             27
Cushing Village
   Belmont, MA
                                                                          Key Points to Note
                                                                                 1. Project Size


                               Allowable
                               by Zoning          2008         2010                   2012
                  Total Area
                                     257,500         225,000      203,000                    178,604
                        (SF)

                        FAR                3.00          2.6             2.37                   2.05

         1-Bedrm units                                   50               40                        82

        2-Bedrm units                                     85              80                        60

        3-Bedrm units                                     15               3                        0

  Residential units                                      150              123                      142

     Total Bedrooms                                      265             209                    202

                       Total
                 Residential
                       Area                          180,000          145,410                141,346

                                                                                               28
Cushing Village
   Belmont, MA
                                                                                      Key Points to Note



                  2. Parking


                  • Parking provided completely meets the By-Law requirement.

                  • Cushing Village is not seeking a reduction in parking required.

                  • Parking provided anticipates highest intensity use, such as a quality restaurant.

                  • Municipal parking is directly below the current location with direct elevator
                    access to the street

                  • In addition to the Municipal Lot, there is plentiful commercial parking that will
                    benefit businesses in the Square

                  • In comparison to the 2010 design, we have added about 25 more on-grade spaces.
                                                                                                           29
Cushing Village
   Belmont, MA
                                                                                      Key Points to Note
                                                                                                  2. Parking




             Parking                                           Parking
           Below Grade                                     At Street Grade
            181 Spaces                                        96 spaces           RES ACCESS
                                                                                  TO WINSLOW

           MUNICIPAL LOT                                                          DIRECT ACCESS
           (50 SPACES)
                             DIRECT ACCESS                                        TO MUNICIPAL
                             TO                                      STRUCTURED   PARKING
           DEDICATED
                             STREET LEVEL                            PARKING
           RESIDENTIAL LOT




                                                               DIRECT
                                                               ACCESS TO                          DIRECT
                                                               HYLAND                             ACCESS TO
                                                                                                  POMONA




                                             Total Parking Spaces 277


                                                                                                               30
Cushing Village
   Belmont, MA
                                                                                                       Key Points to Note
                                                                                                           2. Parking Compliance

       Parking – What is required (per CSOD)?                                  By-Law                             Required

        Residential                                                           One space / unit                   142

        Commercial - Ground floor retail                                      One space / 550-SF                 55

        Commercial – 120 seats Starbucks and Restaurant
       Equivalent requirement for retail only would be 7,000-SF X 1/550-SF = 13 One Space /4 seats                30
       spaces
                                                                                                                  227
       Parking Requirement for Cushing Village

       Municipal Lot Relocation – Per agreement with BOS                                                          50

       Total Parking Requirement                                                                                  277

       Potential Reductions per CSOD By-laws that an Applicant may be
       entitled to:
        Project Location within 250-ft of Municipal Garage                    20% reduction                      (55)

        Within 200-ft of Public Transportation                                10% reduction                      (28)


       NET REQUIREMENT                                                         Potential Reduction of 83 Spaces   194

                                                                                                                             31
Cushing Village
   Belmont, MA
                                                                                    Key Points to Note



                  3. Traffic


                 • Cushing Village will have minimal impact on traffic patterns in the area.

                  • Cut-through traffic on Horne and Williston Roads will be eliminated.

                  • Even under peak hour times, traffic delay is not expected to exceed a few seconds
                    more.

                  • Smart Growth redevelopment encourages walking, bicycles, and the T.

                  • Development of mixed-use communities discourages the use of automobiles.




                                                                                                         32
Cushing Village
   Belmont, MA
                                                       Key Points to Note
                                                                    3. Traffic




                  Negligible




                               Project – related increases in Delay at peak hour
                               No Build versus Build                             33
Cushing Village
   Belmont, MA
                                                                                        Key Points to Note



                  4. Residential Setbacks



                  • The buildings meet all the setback requirements.


                  • All the higher parts of the buildings are massed toward the commercial streets.


                  • The first floor setbacks are from 20-ft to 40ft and average about 30-ft


                  • The upper levels either step back as they rise or are set back 30-ft to 50-ft.




                                                                                                             34
Cushing Village
   Belmont, MA
                                                                      Key Points to Note
                                                                               4. Building Setbacks




                  First floor set back
                    20’-0” to 55’-6”
                                                                BUILDING ONE
                                                               TheWinslow




                              BUILDING THREE    BUILDING TWO
                             The Hyland        The Pomona




                                                                                               35
Cushing Village
   Belmont, MA
                                                                      Key Points to Note
                                                                               4. Building Setbacks




                  Second floor setback
                     20’-0” to 59’-6”
                                                                BUILDING ONE
                                                               TheWinslow




                              BUILDING THREE    BUILDING TWO
                             The Hyland        The Pomona




                                                                                              36
Cushing Village
   Belmont, MA
                                                                                    Key Points to Note




                      5. Building height



                  • All the buildings are under 48-ft and four stories or less.


                  • The two-story grade difference in the site contours means that there has to be
                    some stepping to accommodate the site.

                  • The Hyland site alone accounts for 15-ft of the site grade. We comply with the
                    height requirement by stepping each side of the building (Common and
                    Belmont).




                                                                                                         37
Cushing Village
Cushing Village
  Belmont, MA
  Belmont, MA
                                                                                                                Key Points to Note
                                                                                                                     5. Building Height




                                                                    48’Allowable




                                                                                                                                     48’Allowable
           Submerged
           Level                                    Average grade
                                                    @Belmont St
                                                                                                                     Average grade
                                                                                                                     @Common St

                       BUILDING THREE                                              BUILDING THREE
                        Hyland          +/-46.5’                                    Hyland          +/-43.0’
                       @BELMONT ST      4-stories                                  @COMMON ST       4-stories




                                                                                                                                                    38
Cushing Village
   Belmont, MA
                                                                                      Key Points to Note




                  6. Community Benefits



                  • There are large one time cash benefits to the Town before construction begins.


                  • There are long term direct net benefits from real estate and excise taxes (after
                    subtracting for education costs).


                  • There are huge multiplier effects of bringing in new economic activity from a
                    mixed-use development.


                  • New permanent jobs will be created.



                                                                                                           39
Cushing Village
   Belmont, MA
                                                                                                               Key Points to Note
                                                                                                                   6. Community Benefits



                 One-Time Municipal Revenues                                              Annual Municipal Revenues
 One-Time Municipal Revenue                                                 Annual Revenues Less Schooling Costs

 Municipal Parking Lot Purchase $ 850,000                                   Property Taxes                 $ 670,000/year*
 Permitting Fees                $ 400,000                                   Excise Taxes                   $ 40,000/year
 _____________________________________________                              Less Schooling Costs             ( $120,000/year)
 Total                          $1,250,000                                  _____________________________________________
                                                                            Total                          $ 590,000/year




                                                            Construction Project
                                            $40M Projected Hard Costs
                 In discussions with Belmont firms to consider for a significant portion of the budget
                           Estimated 227 Jobs to Be Created During Construction (~2 Yrs.)


                    Based upon total project costs of $50M ($40M Construction Costs & $10M Soft Costs) and $13.35/$1,000 tax rate   40
Cushing Village
   Belmont, MA


                                                                                  Proposal summary




                                               Cushing Village

                  • Is a Mixed-Use brownfield redevelopment, which will bring added vitality to
                    Cushing Square.

                  • Will bring significant economic benefit to Belmont.

                  • Greatly increases parking for commercial uses.

                  • Conforms to the Zoning By-Law.

                  • Has been designed to create a rich and varied architectural character.


                                                                                                 41
Cushing Village
   Belmont, MA




                       Stay informed and engaged through interactive outreach…
                                     E-mail Newsletters

                                                                 Twitter - @CushingVillage
                  Blog/RSS Feed




      Second Life Virtual Model                    Website – www.cushingvillage.com


                                                      Electronic Newsletter Signup
                                                     being passed around the room

                                                                                             42
Cushing Village
   Belmont, MA




                  Experience our vision for Cushing Village first-hand… in Cushing Virtual




                                                                                             43
Cushing Village
   Belmont, MA




                        Learn more and get involved through community events…

                   Community Outreach Reception




                 Next Event to Launch Cushing Virtual (Our 3D Interactive Version of Cushing Square)
                                                                                                       44

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First Cushing Planning Board Hearing, Belmont, MA - Feb. 28, 2012

  • 1. Cushing Village Belmont, MA Welcome to Cushing Village PLANNING BOARD PRESENTATION Feb 28, 2012 1
  • 2. Cushing Village Belmont, MA Existing parcel data Lot area: +/- 2-Acres Frontage: 980-LF 26-FT Grade change: 26-FT 2
  • 3. Cushing Village Belmont, MA Existing context Common St Commercial Bldgs 533 Belmont St +/- 44’ h Winters hardware/Belmont Savings 125 Trapelo Rd +/- 62’/74’ h 3
  • 4. Cushing Village Belmont, MA Site Concept Three Separate Buildings Three Separate Buildings 1. Reduce the massing 2. Allow free-flow of circulation 3. Provide opportunity for varied design 4
  • 5. Cushing Village Belmont, MA Site Concept Vehicular Circulation Horned Rd Access closed except for emergency Main Vehicular route 5
  • 6. Cushing Village Belmont, MA Site Concept Car Circulation Ramp Access to underground parking 6
  • 7. Cushing Village Belmont, MA Site Concept Parking & Loading Direct Access to Municipal Lot Parking at grade: 96 Spaces Covered Loading Dock Main Vehicular route 7
  • 8. Cushing Village Belmont, MA Site Concept Pedestrian Pedestrian Routes 8
  • 9. Cushing Village Belmont, MA Landscaping Plantings Densely planted walkway Interface Planting and w/Trapelo/ planter beds Common throughout Road changes Plantings between buildings and property line 9
  • 10. Cushing Village Belmont, MA Landscaping Site Amenities Planters Benches & Seating areas Bike parking racks 156 – spaces total 10
  • 11. Cushing Village Belmont, MA Landscaping Fencing and Screening Good-Neighbor fence Board fencing with Trellis topper 11
  • 12. Cushing Village Belmont, MA Building Design Three Separate Buildings Three different designs: 1. To create visual interest 2. To respond to different residential needs 3. To provide a high sense of identity BUILDING ONE TheWinslow BUILDING THREE BUILDING TWO The Hyland The Pomona 12
  • 13. Cushing Village Belmont, MA Building Design Three Separate Buildings BUILDING ONE Retail - 10,600-SF Winslow Apartments-28 TRAPELO RD VIEW THE WINSLOW – WILLISTON VIEW 13
  • 14. Cushing Village Belmont, MA Building Design Three Separate Buildings COMMON ST VIEW TRAPELO RD VIEW BUILDING TWO Retail - 21,600-SF Pomona Apartments -66 14
  • 15. Cushing Village Belmont, MA Building Design Three Separate Buildings BELMONT ST VIEW COMMON ST VIEW Apartments - 48 BUILDING THREE Fitness – 3,600-sf Hyland 15
  • 16. Cushing Village Belmont, MA Building Interiors Ground Floor: Commercial Retail Fitness club Parking Restaurant Retail food store Starbucks 16
  • 17. Cushing Village Belmont, MA Building Interiors Typical Residential Level Apartments – All one and two bedrooms Many units have balconies or bays Each building had is own entry Each building has direct access to parking garage 17
  • 18. Cushing Village Belmont, MA Street View Trapelo Rd Streetscape Winters hardware Common St The Pomona The Winslow Williston Rd 18
  • 19. Cushing Village Belmont, MA Street View Common St Streetscape Belmont St Horne Rd Trapelo Rd 19
  • 20. Cushing Village Belmont, MA Craft and Detailing BUILDING ONE The Winslow Arts and Crafts Style Brick, Shingles, Clapboard, Wood Details, Traditional Windows, Metal Roof Decorative detailing Brackets and metal roof Traditional Window Styles ‘Cylinder’ Room w/decorative brick Wood details on porch Decorative brick work 20
  • 21. Cushing Village Belmont, MA Craft and Detailing BUILDING TWO The Pomona Naturalistic Detailing Stone and Stucco Decorative Metal Work Decorative window Recessed balconies Juliet balcony ‘Twig” balusters Clock tower with murals Decorative entries Rustic stone base Metal trimmed bay window Decorative Metal Work On stone tile face 21
  • 22. Cushing Village Belmont, MA BUILDING THREE Craft and Detailing The Hyland Hillside Village: Brick, Stucco, Decorative Metalwork Decorative cornices Decorative Cornices Cast stone detailing and Juliet balcony Decorative façade pattern Cast stone entry arch Brick and steel trellis 22
  • 23. Cushing Village Belmont, MA Street View View from Belmont and Common 23
  • 24. Cushing Village Belmont, MA Street View View at Trapelo Rd 24
  • 25. Cushing Village Belmont, MA Key Points to Note 1. Project Size 2. Parking 3. Traffic 4. Residential Setbacks 5. Building Height 6. Community Benefits 25
  • 26. Cushing Village Belmont, MA Key Points to Note 1. Project Size • With each proposal for Cushing Village the building overall area has decreased. • The total residential area has decreased. • There are fewer large units and more one-bedrooms. • Commercial use is on ground floor only. 26
  • 27. Cushing Village Belmont, MA Key Points to Note 1. Project Size 2012 Proposed FAR 2.05 2010 FAR 2.37 zoning Allowable FAR 3.0 27
  • 28. Cushing Village Belmont, MA Key Points to Note 1. Project Size Allowable by Zoning 2008 2010 2012 Total Area 257,500 225,000 203,000 178,604 (SF) FAR 3.00 2.6 2.37 2.05 1-Bedrm units 50 40 82 2-Bedrm units 85 80 60 3-Bedrm units 15 3 0 Residential units 150 123 142 Total Bedrooms 265 209 202 Total Residential Area 180,000 145,410 141,346 28
  • 29. Cushing Village Belmont, MA Key Points to Note 2. Parking • Parking provided completely meets the By-Law requirement. • Cushing Village is not seeking a reduction in parking required. • Parking provided anticipates highest intensity use, such as a quality restaurant. • Municipal parking is directly below the current location with direct elevator access to the street • In addition to the Municipal Lot, there is plentiful commercial parking that will benefit businesses in the Square • In comparison to the 2010 design, we have added about 25 more on-grade spaces. 29
  • 30. Cushing Village Belmont, MA Key Points to Note 2. Parking Parking Parking Below Grade At Street Grade 181 Spaces 96 spaces RES ACCESS TO WINSLOW MUNICIPAL LOT DIRECT ACCESS (50 SPACES) DIRECT ACCESS TO MUNICIPAL TO STRUCTURED PARKING DEDICATED STREET LEVEL PARKING RESIDENTIAL LOT DIRECT ACCESS TO DIRECT HYLAND ACCESS TO POMONA Total Parking Spaces 277 30
  • 31. Cushing Village Belmont, MA Key Points to Note 2. Parking Compliance Parking – What is required (per CSOD)? By-Law Required  Residential One space / unit 142  Commercial - Ground floor retail One space / 550-SF 55  Commercial – 120 seats Starbucks and Restaurant Equivalent requirement for retail only would be 7,000-SF X 1/550-SF = 13 One Space /4 seats 30 spaces 227 Parking Requirement for Cushing Village Municipal Lot Relocation – Per agreement with BOS 50 Total Parking Requirement 277 Potential Reductions per CSOD By-laws that an Applicant may be entitled to:  Project Location within 250-ft of Municipal Garage 20% reduction (55)  Within 200-ft of Public Transportation 10% reduction (28) NET REQUIREMENT Potential Reduction of 83 Spaces 194 31
  • 32. Cushing Village Belmont, MA Key Points to Note 3. Traffic • Cushing Village will have minimal impact on traffic patterns in the area. • Cut-through traffic on Horne and Williston Roads will be eliminated. • Even under peak hour times, traffic delay is not expected to exceed a few seconds more. • Smart Growth redevelopment encourages walking, bicycles, and the T. • Development of mixed-use communities discourages the use of automobiles. 32
  • 33. Cushing Village Belmont, MA Key Points to Note 3. Traffic Negligible Project – related increases in Delay at peak hour No Build versus Build 33
  • 34. Cushing Village Belmont, MA Key Points to Note 4. Residential Setbacks • The buildings meet all the setback requirements. • All the higher parts of the buildings are massed toward the commercial streets. • The first floor setbacks are from 20-ft to 40ft and average about 30-ft • The upper levels either step back as they rise or are set back 30-ft to 50-ft. 34
  • 35. Cushing Village Belmont, MA Key Points to Note 4. Building Setbacks First floor set back 20’-0” to 55’-6” BUILDING ONE TheWinslow BUILDING THREE BUILDING TWO The Hyland The Pomona 35
  • 36. Cushing Village Belmont, MA Key Points to Note 4. Building Setbacks Second floor setback 20’-0” to 59’-6” BUILDING ONE TheWinslow BUILDING THREE BUILDING TWO The Hyland The Pomona 36
  • 37. Cushing Village Belmont, MA Key Points to Note 5. Building height • All the buildings are under 48-ft and four stories or less. • The two-story grade difference in the site contours means that there has to be some stepping to accommodate the site. • The Hyland site alone accounts for 15-ft of the site grade. We comply with the height requirement by stepping each side of the building (Common and Belmont). 37
  • 38. Cushing Village Cushing Village Belmont, MA Belmont, MA Key Points to Note 5. Building Height 48’Allowable 48’Allowable Submerged Level Average grade @Belmont St Average grade @Common St BUILDING THREE BUILDING THREE Hyland +/-46.5’ Hyland +/-43.0’ @BELMONT ST 4-stories @COMMON ST 4-stories 38
  • 39. Cushing Village Belmont, MA Key Points to Note 6. Community Benefits • There are large one time cash benefits to the Town before construction begins. • There are long term direct net benefits from real estate and excise taxes (after subtracting for education costs). • There are huge multiplier effects of bringing in new economic activity from a mixed-use development. • New permanent jobs will be created. 39
  • 40. Cushing Village Belmont, MA Key Points to Note 6. Community Benefits One-Time Municipal Revenues Annual Municipal Revenues One-Time Municipal Revenue Annual Revenues Less Schooling Costs Municipal Parking Lot Purchase $ 850,000 Property Taxes $ 670,000/year* Permitting Fees $ 400,000 Excise Taxes $ 40,000/year _____________________________________________ Less Schooling Costs ( $120,000/year) Total $1,250,000 _____________________________________________ Total $ 590,000/year Construction Project $40M Projected Hard Costs In discussions with Belmont firms to consider for a significant portion of the budget Estimated 227 Jobs to Be Created During Construction (~2 Yrs.) Based upon total project costs of $50M ($40M Construction Costs & $10M Soft Costs) and $13.35/$1,000 tax rate 40
  • 41. Cushing Village Belmont, MA Proposal summary Cushing Village • Is a Mixed-Use brownfield redevelopment, which will bring added vitality to Cushing Square. • Will bring significant economic benefit to Belmont. • Greatly increases parking for commercial uses. • Conforms to the Zoning By-Law. • Has been designed to create a rich and varied architectural character. 41
  • 42. Cushing Village Belmont, MA Stay informed and engaged through interactive outreach… E-mail Newsletters Twitter - @CushingVillage Blog/RSS Feed Second Life Virtual Model Website – www.cushingvillage.com Electronic Newsletter Signup being passed around the room 42
  • 43. Cushing Village Belmont, MA Experience our vision for Cushing Village first-hand… in Cushing Virtual 43
  • 44. Cushing Village Belmont, MA Learn more and get involved through community events… Community Outreach Reception Next Event to Launch Cushing Virtual (Our 3D Interactive Version of Cushing Square) 44