Marcus & Millichap / IPA Multifamily Forum: New England 2017 - Speaker Slides

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Transcript of Marcus & Millichap / IPA Multifamily Forum: New England 2017 - Speaker Slides

Go Big or Go Home: Developers

and Investors Discuss Boston’s

Red Hot Mixed Use Market

Author: Doug Manz / HYM

Bulfinch Crossing•Click to add text

Keeping a Competitive Edge: Best

Practices in Managing NOI, Technology

Integration, and Tenant Retention

AirportsEducationEquity

PartnersHealthcare CorporationsCommercial Developers

Sample of View Dynamic Glass customers and Partners

Case Study – Acquisition Reposition CapEx Program – Upgrade Existing Intercom

The Amelia

Client Greystar (Acquired 2015)

Building The Amelia (Built 2004)

Location Quincy, MA

Units 200

Doorman No

Use Case Replace Front Door and Side Entry Intercom

Core Value Drivers

Replace existing intercom ✔️

Minimize hardware costs ✔️

Panel button direct call to leasing office ✔️

Panel for secondary entry ✔️

Improved Resident Experience ✔️

Enhanced Security ✔️

Building a Better Tomorrow: Boston

Developers Discuss the Emerging

Trends that will Shape the City for Years

to Come

Mid-Luxury

• The evolution toward a new standard of multifamily development.• Sandwiches between older product and new high rise luxury.• 10 stories or less, including wood frame construction• Efficient Plans, high price per foot; lower absolute dollars.• Hovering between $850-$1,200/per foot.• Full-service amenities

Building a Better Tomorrow

Place-Making

• A multi-faceted approach to the planning, design and management of public spaces. Placemaking capitalizes on a local community’s assets, inspiration and potential, with the intention of creating public spaces that promote people’s health, happiness and well being.

Author: Sue Hawkes

High-Rise Code Us vs. Them:

• Massachusetts:

– Buildings more than 70 ft in height above grade plane

• Base IBC definition differs:

– Buildings with an occupied floor located more than 75 ft above the lowest level of fire department vehicle access

Example:

Key Implications:• 1 additional floor = 18 units

(16 market, 2 aff.); 20% increase

• Efficiency: 77% 80%• Alternative construction type

(e.g. light gauge metal)?• $$ Feasible to put all parking

underground? • Related: 2 additional floors?• Citywide: 20% (40%?) closer

to 53,000 Units?

Top of Roof Framing < 70’

10’ 6” Floor-to-Floor

Author: Nick Iselin, GM, Development – Lendlease

• Lendlease is one of the world’s leading fully

integrated property solutions providers

• 50+ years of operation

• Approximately 12,300 employees worldwide

• Develops, constructs and/or Manages large, complex projects

across multiple asset classes

• $37.8 billion estimated end value of global development

pipeline (30 June 2017)

• Committed to creating the best places utilizing innovative,

sustainable solutions

• Operates Incident & Injury Free

Author: PCA / David Chilinski, AIA

Mixed-Use - PlacemakingWashington Village – 656 units

Arsenal Yards – 500 units

Tuscan Village – 500 units

530 Western Ave. – 140 units

Key components of these multifamily projects are integrated retail

and public space strategies

Create the activities that bring neighbors and residents together

Provide amenities for multifamily residents