Falcon Hill Enhanced Use Lease ProjectFalcon Hill Enhanced Use Lease Project 75 ABW/EUL Aug 2017 B r...
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1 1 75th Air Base Wing Falcon Hill Enhanced Use Lease Project 75 ABW/EUL Aug 2017
Transcript of Falcon Hill Enhanced Use Lease ProjectFalcon Hill Enhanced Use Lease Project 75 ABW/EUL Aug 2017 B r...
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75th Air Base Wing
Falcon HillEnhanced Use Lease Project
75 ABW/EUL
Aug 2017
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Falcon Hill “Vision”
Falcon Hill (FH) Commercial office park with supporting retail, restaurant and hotel; 8 million sqft total; 25+ yrs
Largest commercial office EUL in DoD
Only commercial “Class-A” office EUL within the AF
Replace dilapidated WWII era buildings in 1200 zone Energy efficient, co-location, AT/FP compliant, parking
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Falcon Hill “Deal”
Master Lease Agreement signed 13 Aug 2008
50-year lease
Revenue sharing arrangement
Construction schedule based on market demand
New utility infrastructure & facilities at no AF cost
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Project Area
West Gate
NORTH
AF Museum
1200 Zone
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Falcon Hill Key Stakeholders
Department of the Air Force
AFCEC; lease authority and oversight
Hill Air Force Base
Project management
Design/construction oversight
Utilities and services for inside-the-fence
Sunset Ridge Development Partners (SRDP)
Hunt Construction Ltd; construction
Woodbury Corp; project and property management
Utah’s Military Installation Development Authority (MIDA)
State Authority created to manage intergovernmental issues,
state grants, local community interaction
Provide typical government services outside the fence
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AF Buildings to Date
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Commercial Buildings To Date
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Under Construction Commercial Office Building
USTAR Building, 21K SF, Outside the fence
Construction completion Oct 2017
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Under Construction Commercial Office Building
Bldg 1581; 75K SF; Mirror image of Bldg 1580
Under construction; completion Aug 2017
100% leased
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Upcoming Commercial Office Building – Final Quad
Bldg 1578; 2 Story 66K sqft
Last Quad Building / Condo option
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Upcoming Retail
Outside West Gate
Two restaurants are coming
outside the West Gate
Hotel outside the gate is
planned for if the
Steak ‘n Shake
Jimmy John’s
Hotel
USTAR
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Upcoming SDL # 7
- Bldg 1578, Interest from commercial tenants in leasing more space
is driving decision for this building
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Commercial BuildingFlex-Space or Data Services
Located on DLA/Disposition Services North Lot
Planned 100K sqft building for inside the fence
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Bldg 1581
Bldg 1582
75K OfficeUSTAR
Hotel
FH West Gate Projects
Contingent on market conditions, SRDP is planning on these
facilities to be in place by 2020
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Secure Software FacilityAF PIK funded Facility
Construction started May 2017; Structure complete Summer 2018;
Building fit out for operations Fall 2018
2 story, 74K sqft building, with parking
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FH Mid Area ProjectsCommercial Data Services
Located west of Bldg 1515
Planning for data center buildings, or two story office across from
the software complex
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FH Future North Gate Projects
Outside-the-fence
2018 Kickoff
Office, retail & hotel
Museum facility will grow in
time
Moves outdoor aircraft into
new display hanger
New Roy Gate
Relocated south of existing
gate North GateSite Plan
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Mid 2020’s
Projection based on positive economic growth
Yearly Shared Value payment to AF should reach $625K for 1200
series buildings replacement
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Once DGRC Operations Move
Traffic challenges: The real change will come with a new I-15
Interchange
Beyond the benefits to the Falcon Hill, creating 1800 North exit to
west will improve local traffic dramatically
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Questions?
