What a super busy day today, I just had an opportunity to sit in on a presentation with Suzanne Yowell – Partners for Sacred Places …. This was just absolutely brilliant organization focused on the financial management of sacred places particularly churches, and paring these churches with nonprofit organizations for space share partnerships to help that are having financial difficulties sustaining themselves.
They typically work with historic churches or churches 50 years or older
They typically pare the churches with other non profit organisations, non profit business, medical offices ect.
Congregations are typically reluctant to open their doors to non related organizations or non profit business, This is normally do to the church needing to maintain their reputation. Even though any visitor to the Church is a potential member, and these partnerships can lead to positive marketing for churches in financial crisis.
A Little About LEED with Amari Roskelly
Sustainability Coordinator at Jacobs Engineering
Sustainability Intern at Jacobs Engineering
Sustainability Grad Student at UTA
Simulation Inventory Specialist at The University of Texas at Arlington
The University of Texas at Arlington
The University of Texas at Arlington-Amarillo College
- LEED is a green building tool that addresses the entire building lifecycle recognizing best-in-class building strategies.
- LEED is a program that provides third-party verification of green buildings. Building projects satisfy prerequisites and earn points to achieve different levels of certification
Sustainability for Military Bases – Fort Carson
The Net Zero energy designation will require Fort Carson to produce as
much energy on site as it uses. This will require aggressive
conservation and efficiency efforts, including finding ways to capture
and use waste energy and pursuing more renewable energy initiatives.
Operating as a net zero water installation, for example, means the
Mountain Post will conserve and re-purpose water. One way to achieve
this goal is to reuse gray water generated from showers and laundries
for irrigation of lawns and trees.
Additionally, Fort Carson will reduce, reuse and recover waste.
Converting appropriate waste materials into usable resources will
ultimately reduce and eliminate much of the need for costly landfill
SOME INTERESTING LINKS:
- This rating system pays more attention to the social aspects of sustainability and is utilized globally.
The aim of the Pearl Community Rating System (PCRS) is to promote the development of sustainable communities and improve quality of life. The PCRS encourages water, energy and waste minimization, local material use and aims to improve supply chains for sustainable and recycled materials and products.
- Encourages more self sufficient improvements
- Several principals were derived for LEED standards
- Concentrates on environmental impacts of development along with sustainable development
It calls for the creation of building projects at all scales that operate as cleanly, beautifully and efficiently as nature’s architecture. To be certified under the Challenge, projects must meet a series of ambitious performance requirements, including net zero energy, waste and water, over a minimum of 12 months of continuous occupancy
I got a chance to sit in on a presentation with John Mauro, Parking Vault Ltd presented at the University of Arlington Fort Worth Campus. This was the most creative and efficient use for parking space.
Benefits Of Automated Parking
Space Saving: Efficient Space Utilization Allows Greater Development Size
automated parking system can use 40% less surface area compared to a conventional garage to fit the same number of parking spaces.
More importantly automated parking garage can save up to 60% of the cubic feet of a garage leaving more space for other more profitable uses.
1 FAR Treatment (counts as one building floor)
Vehicle Security: Your Vehicle is Secure in a Storage Vault
Your vehicle is as safe if placed inside a bank vault. Once a driver parks his vehicle in an entry cabin and turns off the engine, the driver is the last person to touch the vehicle. The vehicle is moved by the parking equipment until it is stored in its computer assigned parking space inside the garage Storage Vault. No person has access to the Storage Vault and no equipment ever touches the vehicle. You are the only person who has access to your vehicle so leave your belongings safety inside in vehicle!
No risk of Dents from other drivers opening doors into your vehicle
No risk of Damage from other drivers backing into your vehicle
No risk of Theft No risk of Vandalism
Personal Safety: Parking Turned into a Pleasant Experience
Personal safety is optimized because a driver never leaves the safe and comfortable confines of the well lit entry cabin. The entry cabins are conveniently located and well monitored so there is no walking aimlessly through a garage searching for your parked vehicle. No driver ever has to walk alone through a garage or a dark stairwell to retrieve his vehicle.
No risk of Robbery
No risk of Rape
No risk of Physical Harm
No CO2 Emissions as vehicle engines are off during entire storage and retrieval process
No Fuel Usage driving up and down ramps searching for a parking space or exit
Lower Noise Pollution as no tires screeching up and down ramps and no horns honking
Reduced Building Footprint permits the balance of a site to be dedicated to other “green” features
1 mule or lever runs about 1 million dollars
20 cents per car
Parking rates are still under debate
I got a chance to sit in on an updated presentation with Don Ferrier, Ferrier Custom Homes At the University of Arlington
60% of consumers today are “Baby Boomers
“Baby Boomers” are really concerned with costs and safety
“Baby Boomers” are willing to spend the extra money if they can save a little in the future
“Baby Boomers” Grew up in large homes and have learned through experice and education that Greener Living is worth the extra upfront costs
Then you have “Survivalist” They are concerned with Green Custom Built Homes, because they want to be prepared for anything especially disasters.
I got a chance to visit the Tarrant Reginal Water District, and unlike the last visit I got a chance to see their control room, while Laura discussed their coverage area.
Since I wasn’t busy taking pictures on this tour I heard some really interesting facts about their new facility:
- Waste Water is being recycled through a 200 acre wet land treatment system
- 1.47 Million Solar array (powers 50-70% of the buildings usage)
- Repaid in 16-18 years
- Since the water district is a govt. building it was important for them to look into long term improvements with little environmental impacts
- The control room is comprised of several monitors, constantly monitoring the counties lakes and public water usage
- Since water is becoming scares and expensive to move around the water district is working on ways of reducing costs to its community.
I appreciated that the Water District had created several indicatives to encourage it’s employees to practice sustainable working habits, that support environmental improvements.
Rik Adamski, was the Streetscape Team Leader on the embRACE theSTREET Better Block project, in Fort Worth’s Near Northeast Side. He is currently spearheading a large-scale “Incremental Urbanism” project for SteerFW, Mayor Betsy Price’s young leader initiative for the City of Fort Worth. He has also guest lectured on the subject of Tactical Urbanism at University of Texas at Arlington. Rik earned his Masters Degree in Urban Planning and Policy from the University of Illinois at Chicago and a BA in Sociology from the University of Cincinnati. He has over ten years experience in the real estate and planning industries and currently, is a Senior Planner for Bowman-Melton, Associates, a Dallas-based firm, which specializes in pedestrian and bicycle planning.
Bio complements of Texas A&M : http://calendar.tamu.edu/?&eventdatetime_id=14700
I got a chance to attend the presentation presented by Rik Adamski, at the University of Arlington. I’ll admit wasn’t really looking foward to the presentation, but I learned it was my ignorance because I had NOOO idea what Tactical Urbanism was.
How dose Tactical Urbanism differ from these New Urbanism developments, which I see as building these mini communities that don’t require transportation because everything is in walking distance, and these communities are designed to be completely sustainable amongst themselves and its residents.
Tactical urbanism helps citizen activists transform their own communities and educate others about how urban interventions can lead to long-term change in the quality and function of an urban space. Participants will gain knowledge on: The range of tactics available for different purposes, How to plan an intervention, How to identify a site for an urban intervention, How to gain the proper permissions for staging an intervention, How to recruit participants, How to recruit sponsors and donors.
The challenge is teaching some to live on less, and how to use less resources ~ Rik Adamski
You have to put a little pressure on cities by demonstrating … Show them urbanism can also be fun ~Rik Adamski
I hate to always be criticizing these communities, but what drives me nuts is that these communities are built based on what the developer thinks a particular community needs, granted yes I understand they do extensive surveys and lots of neighborhood meetings to determine what a particular New Urban Community needs. It just keeps resulting in a serious imbalance.
Plus one reason we have so many cars on the roads is due to individuals who want diversity, and options. They want options in work location, entertainment ect.
The imbalance, meaning you have these New Urban Communities where the developer decided to bring in organic grocery stores, upscale salons and retail stores. Then you have the other neighborhoods that are developed with several multifamily properties with culturally based grocery stores (El Rigio/Alde) and school buses that transport the children to overcrowded schools across town. I get it if you don’t like that communities features find another community, but that’s why we have land locked cities and rapid sprawling.
After the presentation I now understand:
The beautiful thing about DYI Urbanism, it’s completely driven by the citizens in that community. Tactical Urbanism gives communities tactics to empower community residents and leaders to do different DYI improvements, giving the residents a sense of ownership over their community that will lead to more creative and innovative new urban development ideas.
When it comes to Tactical or New Urbanism, Social Sustainability must come first. I now have a lot of respect for Tactical Urbanism because it takes into account what a lot of organizations are leaving out. I think any type of development is pointless without empowering community residents not just community leaders>> community residents. If you’re not empowering local residents to maintain and continue to grow and improve there communities, we will continue to have sprawling.
I think it’s important that organizations and leaders (Chamber of Commerce’s, Habitat for Humanity’s, Local ISDs ect.) really consider working with neighborhood residents on DIY Projects. These projects will highlight their communities, and if done well will create enough buzz that will encourage to developers taking a second look at their communities for improvements. Then they wouldn’t have to beg Wal-Mart’s to build in their communities and cross their fingers that other business will jump on the Wal-Mart Affect.
My opinion again, but sprawling comes from developers who don’t want to take the time or energy to encourage local residents to make changes. So these developers choose to develop in areas they know they can implement 80% of their own ideas.
Here’s me being a devil’s advocate but I really don’t blame these developers.
Interesting Links Mentioned:
The Building Community Workshop is a Dallas based nonprofit community design center seeing to improve visibility and viability of communities through the practice of thoughtful design and making. We enrich the lives of citizens bringing design thinking to areas of our city where resources are most scarce. To do so the BCWorkshop recognizes that it must first understand the social, economic and environmental issues facing a community before beginning work.
Dallas Habitat for Humanity
Upcoming Unlock the Dream Tours:
We hold our one-hour tours on the 2nd Wednesday and the 4th Thursday of each month. To confirm a tour date & time for you and/or any friends, co-workers or family, please fill out the following form. A confirmation email will be sent to you with further details.
Build a Better Block
The “Better Block” project is a demonstration tool that acts as a living charrette so that communities can actively engage in the buildout process and provide feedback in real time
Another Creative and Effienfcet Use for Solar Power
Dan says the number one question he gets is “What’s the return on investment for adding these solar panels.”
His answer “What’s your return on investment now for you current electricity bill.”
Dan Lepinski has a back ground in Electrical Engineering, with a deep passion for solar technology. He created his first solar powered radio as a 6 grade science project… the judge’s recommendation was better luck next year because solar power is way too impractical.I got a chance to sit in on the 2 hour presentation presented by Dan Lepinski, at the University of Arlington Fort Worth Campums
Hands Down Dan Lepinski is a true “Texas Solar Guru”
Dan hand crafted an old wellsfargo trailer into an emergency response vehicle that can be used in disastrous situations. This trailer has been used to maintain power for police radios and equipment, computers and even medial batteries when no electricity is available.
Interesting Facts About the Trailer:
- Its portable and with brakes, to protect the amount of batteries its carrying
- 5 Top Solar Panels
- 5 Bottom Solar Panels
- Panels are made of tempered glass and peat sand>> all covered by insurance
- Each set of solar panels are powered by separate charging controls
- Typically one inverter is used at a time
- Eight Batteries – four each in two separate 24Vdc systems
- Total Battery Amp-Hours 1100 amp-hours @ 20 hour rate (all battery banks in parallel).
- Total Battery Reserve 26,400 watt-hours @ 20 hour rate (all battery banks on line)
- Inverter Safety Switches>> Only the Main inverters – DC input @300 Amps. UL certified.
- Data Output Ethernet interface to 802.11g wireless router
- Saves 80% on energy usage
- The trailer can power a 2 story home >> if the home has undergone additional energy effiecent improvements.
Something to Remember:
It costs more to deliver energy than to use the energy. With solar energy you are producing the energy right where you use the energy, meaning you are reducing the need for miles and miles of wiring/piping and materials needed to get the energy to a home ect., also reducing the impact of damage done to the environment.
Also with Wind Energy there are currently several setbacks, for starters wind towers need to be at least 30-50 feet above all other objects, unless you are dealing with acreage, and they require lots of good energy to produce good energy.
Interesting Links Mentioned:
Property Assessed Clean Energy (“PACE”)
Property Assessed Clean Energy (“PACE”) is a pro-business, pro-environment, pro-jobs initiative that gives property owners upfront access to affordable long-term financing for qualifying energy efficiency and renewable energy retrofits and improvements to existing structures on residential, commercial, industrial, or other real property. PACE loans are repaid through special property tax assessments that can be amortized for periods of up to twenty (20) years. If the property is sold before the full amount of the PACE loan is repaid, the repayment obligation automatically transfers to the next owner because the lien securing the tax assessment follows title to the property.
Data Base for Incentives on Renewable & Efficiency Improvements and Development
DSIRE is the most comprehensive source of information on incentives and policies
that support renewables and energy efficiency in the United States. Established
in 1995, DSIRE is currently operated by the N.C. Solar Center at N.C. State
University, with support from the Interstate Renewable Energy Council, Inc.
DSIRE is funded by the U.S. Department of Energy.
This blog was created in response to The City of Dallas’ eco concerns in the lack of well situated public parking, attractive and well lit pedestrian walk ways with public open spaces. In addition the market for retail activity in the district is untested after years of decline, residential units should continue to developed to create a critical massive need for retail.
About this building:
52,750 square feet
2 separate builds joined together in 1940
3 Floors with 1 floor occupied
1st floor level – still not finished out
and a Basement- connects the 1933 Elm and 1930 Pacific Ave buildings- Not quite finished out
Home of the old Hart Furniture store
City Center TIF
Harwood Street Historic District/ built in 1889
The Revitalization Plan:
1st Floor Cafe’ and Grocer – Think Trader Joes:
- Late Night Studying
- Increase in residential population
- for after hour activity
2nd Floor – Swanky Paws
- The documented demand for market rate housing and retail development the Tiff district has not kept up to pace with the growing residential populations.
- Provides minor medical care
- Educate on the special needs in urban environmental or city centers where “concrete rules”
- For unique pet playgrounds
3rd floor – Office Space
- Potential Income
- Bringing Professionals Central Business District
- Keeping up with the tend of Architectural Reuses
- Building on New Urban-ism
Basement – SpeakEasy
- Rental space for receptions and parties – Potential Income
- Rental space for artistic workshops and events
- A relaxing space to wait to for an event at the Majestic Theater
The Upgrades and Savings:
The ultimate goal is to maintain the historic facade and character of the building. The building was built before air conditioning, so we would not be changing widows, we’ll tent them. We will add high efficiency lighting. The building has high ceilings reducing the need for heavy air conditioning; we will optimize the buildings natural ventilation. We will add high efficiency lighting, understanding the basement will take require the majority of the lighting.
- Custom 5×5 elevator
- Cage door keeps the historic spirit of the building
- allows mobility challenged individuals access to the upper floors
- Mitigate CO2 levels by use the operative windows and upgraded HVAC Systems
- Enhancements to the lighting systems, which will also help manage energy usage
- Integrate the buildings existing card access system with the new BAS Automation System which will activate lighting and HVAC in an area before arrival
- This BAS tracks and measures electricity usage, as well as atmospheric conditions in and out side of the building, and will prompt maintenance.
- Adding energy star rated equipment and appliances including copiers, kitchen equipment, and ext.
- Tenting windows to increase performance by blocking heat form the ultra pilot rays of the sun
- reduce water consumption with water efficient pluming
>>> automatic urinal with 1/2 gallon water per flush
>>>low flow faucet with aerators
>>>coffee stations will also have low flow aerators
>>>the design will be connected to the BAS to notify maintenance of any leaks
Green design has rapidly emerged as virtual requirement in real estate equity financing. We anticipate recovering some proportion of green-related costs through reduced operating expenses. Also, for Dallas city green construction codes this would be more desirable to commercial tenants. Likewise, it will demand a markedly higher resale value.
- asking price 2.6M
- Anticipated 870 thousand in renovations and upgrades
- Loan LTV 80
- Debt Service Coverage Ratio (DSCR) 1.50%
- Interest 4.0%
- Amortization 25 Years
- Term 20 Years
- Loan Cost 1%
- Loan Amount 2,776,000 which is 80% of $3,470,000
- Investor Equity by IBR corp of $694,000
Financial Structure – IBR corp will receive annual year end payments of 250k for 10 years, building sale at the end of the 10th year, at which IBR will receive their initial equity of 694000 plus 50% of the waterfall which would be 593,420.50
The remainder of after tax annual revenue will be between 92980 and 121552, which will go to the team which will also receive 50% of the waterfall at sell equaling 593420.50
This is all based on lowering the rent per square foot form 1570 per square rental, on a Class A building at 90% occupancy
This Blog page was created to analyze and support the potential investment of a multi-family property located in the
I decided to do a Real Estate Analysis of a seasoned multi-family property located near the Fair Park area. What attracted me to this property was its location, the Fair Park Area is an older community located in Central Dallas and has been slowly undergoing a slow transformation. The Dallas Economic Development just complete phase one of their long-term efforts to attract new businesses and residents.
This property recently passes its city code inspection, and had its roof remodeled in 2009. It has also had its foundation leveled this year in 2012. It is an 8 unit apartment complex with 100% occupancy. It has a gross rental income of $4,240, additional expenses of $14,000 and a NOI of $34,080. Interestingly with 100% occupancy it has a fairly high Cap Rate of 17%.
4,800sq.ft. Milti-family low-rise garden property with 2 floors
- Built on 7500.00 acres
- 8 units- all 2 bedrooms/1bathroom
- Ceramic tile
- Tenants pay electric
- Located near new Dart Rail
- Gross income of 3800/month
This property can be acquired at a 17% Cap Rate, using the income statement of May 2012.
- Asking Price $199,OOO
- Down Payment $ 50,000
- 30 year Note $ 160,000
- Amortization – 2o Years
- Balloon – 3 Years
- Interest – 9.5%
- Monthly PI Payment $1,491.41
Since the year 2000 real property value has increased in the Southern Dallas region by 3.62B or 53.6%. The Southern Dallas Area is continuing to grow including new condominium, several town homes, and the addition of a new police head quaters.
Median Age: 35.1% Sizes of Households: 2.4 people
Average Adjusted Gross Income: 22,524
Percentage of Renters in 75215 vs State Average
After careful analysis of the areas market, the properties income statements, and projected cash flow I feel this property would be a good first time infestment. The remainder of this blog will present a break down of the research that went into the dession to possibly invest in this property.
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