Waterfront Development Master Plan Kingston, Tennessee Bullock, Smith & Partners, Inc....

Waterfront DevelopmentMaster Plan

Kingston, Tennessee

Bullock, Smith & Partners, Inc.Knoxville/Nashville, TennesseeMaster Planners/Architects/Landscape Architects

Barge Waggoner Sumner & CannonOak Ridge/Knoxville/Nashville, TennesseeSite Engineers/Planners/Transportation Engineers

Economics Research AssociatesWashington, D.C.Market & Economic Feasibility ConsultantsMay 9, 2005

Project PhasesBullock, Smith & Partners, Inc.

• Phase 1:– Task 1: Determine Study Area– Task 2: Assemble Site Documentation– Task 3: Inventory & Data Gathering

• Phase 2: – Task 4: Community & User Group Input Sessions– Task 5: Evaluate Economic & Area Demographic Profile– Task 6: Examine Real Estate Market Trends– Task 7: Site Analysis

• Phase 3:– Task 8: Measure Market Potentials & Prepare Preliminary– Task 9: Develop Alternative Concepts

• Phase 4:– Task 10: Calculate Economic Impacts– Task 11: Finalize Master Plan & Final Presentation

Physical Analysis

Bullock, Smith & Partners, Inc.

Project ScopeBullock, Smith & Partners, Inc.

Primary Study Area Photos

Project ScopeBullock, Smith & Partners, Inc.

Secondary Study Area Photos

Public CommentsBullock, Smith & Partners, Inc.

Notes from Interviews and Public Meetings:

• Lakefront is a valuable asset to the community of Kingston.

• Economic concerns include increasing tax revenue, buying power and retail opportunities.

• Public investment is a concern; would like to attract “new” money.

• Traffic and parking are significant concerns in the lakefront area.

• Important to emphasize historic elements within the city.

• Tourism and local recreation could be increased with restaurants and riverboat possibilities.

• Kingston would be an ideal place for a small marina to purchase gas.

• Ultimately, would like to improve upon the quality of life in Kingston.

AnalysisBullock, Smith & Partners, Inc.

21. Opportunities and Constraints

22. Significant Issues

19. Architectural Theme/Image

20. Ownership

100’ Buffer Zone for Beer Sales

TVA InformationBarge, Waggoner, Sumner & Cannon

TVA Information:

Land Controlled by TVA Watts Bar Operating Information

Economic Impact Analysis

Economics Research Associates

Study Objectives

Assess overall redevelopment potential of downtown/waterfront

Identify market potentials (retail, office, housing)

Estimate economic benefits


Tasks

Stage I: Diagnostic Key stakeholder interviews & focus groups Conduct market research Understand economic fundamentals: what are the factors

driving demand?

Stage II: Market Potentials Test commercial & tourism development opportunities Identify appropriate commercial mix

Stage III: Economic Impacts Measure potential economic impacts to determine leverage


Market Potentials

Housing Waterfront: 20 to 70 units Downtown: 40 units

Total Housing Program of 60 to 110 Units

Commercial Restaurants: 12,000 SF Leisure & Entertainment: 6,500 SF Specialty Retail: 6,000 SF Office: 25,000 SF

Total Commercial Program of 50,000 SF


Potential Economic Benefits

Temporary construction jobs & associated income

Permanent employment & wages generated by new commercial retail & restaurant uses

New, permanent residents attracted to new housing

Increasing retail sales taxes


Potential Employment & Income

Temporary $3.4 million in construction income Generating approx. 25 construction jobs 5-year buildout

Permanent $6.5 million in annual wages Approximately 200 new jobs


Potential Sales Tax Revenues

$5.5 million in annual retail spending

$2 million in general retail

$3.5 million in food & beverage

$470,000 in annual retail sales taxes

State of TN: $350,000

Roane County: $70,000 Kingston: $70,000


Potential Property Tax Revenues

$136,000 in annual property taxes generated by new development

Distribution: $94,000 to Roane County; $42,000 to Kingston


Supportable Retail Space

$320,000 in annual spending generated by on-site employment

$1.5 million in annual retail spending

generated by on-site households

9,000 SF of retail space supportable by new development


Benefits of Downtown Revitalization

Protects property values Sense of identity & community pride Place to shop, visit, gather & socially interact Key indicator of social health of a place Visual representation of community heritage Attracts new residents, tourists, new

businesses Convenience & local accessibility to goods &

services


Alternative Concepts


Program Recommendations

Restaurant OptionsBullock, Smith & Partners

Office Space OptionsBullock, Smith & Partners


Retail OptionsBullock, Smith & Partners


Residential OptionsBullock, Smith & Partners


Alternate Concepts

Options Bullock, Smith & Partners

Option A Option B

Option C

Development Strategy



Site PlanBullock, Smith & Partners

Streetscape Improvements

Greenway

MarinaRestaurant

RetailOffice Space

Riverboat

Restaurant/MarinaBullock, Smith & Partners


RetailBullock, Smith & Partners


OfficeBullock, Smith & Partners


Streetscape ImprovementsBullock, Smith & Partners


Greenway EnhancementsBullock, Smith & Partners


Financing Concepts


Potential Financing Options

Examples of direct incentives for private investment:

Land assembly City-funded improvements Disposition of city-owned parcels at low or no cost Site preparation Property tax abatements or reductions “Gap" financing for business expansion or relocation Direct grants and/or other business development incentives Revolving business loan program City as developer/landlord


Potential Financing Options

Examples of indirect incentives for private investment:

Public infrastructure improvements Underground utilities Streamline permitting & public approvals Main Street Program


Implementation Strategy

Public Improvements: Funding

Capital Improvements Grants

Budgeting Issue RFP/RFQ Select Designer Design Bid Construction



Public/Private Development: Identify Projects Identify Potential Developers

ICSC BWSC/BS&P

Develop RFP’s Receive Proposals Select Developer Develop Designs and Build



Operations: Develop Program

PR Campaign Implementation of Plans Develop Entertainment Schedule



Staffing Options: Utilize Existing Staff Hire New Staff (Full-time/Shared)

Waterfront Development Manager Main Street Program Director

Hire Consultant Member of the National Council for Public-Private

Partnerships


Waterfront DevelopmentMaster Plan

Kingston, Tennessee

Bullock, Smith & Partners, Inc.Knoxville/Nashville, TennesseeMaster Planners/Architects/Landscape Architects

Barge Waggoner Sumner & CannonOak Ridge/Knoxville/Nashville, TennesseeSite Engineers/Planners/Transportation Engineers

Economics Research AssociatesWashington, D.C.Market & Economic Feasibility ConsultantsMay 9, 2005

Waterfront Development Master Plan Kingston, Tennessee Bullock, Smith & Partners, Inc....

Documents

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