OPPORTUNITY ANALYSIS
ARCHITECTURE | INTERIOR DESIGN | URBAN DESIGN & LANDSCAPE ARCHITECTURE ENGINEERING | CONSTRUCTION ADMINISTRATION | BRANDED ENVIRONMENTS | SUSTAINABLE DESIGN
GOAL At BKV, our design process and experience will quickly generate site studies and matrix data for the developer to pursue a site of interest.
KEY FACTORS • Identify quality real estate locations • Select regional market locations • Efficient and timely review process • Quickly prioritizing potential sites
ANALYSIS/PROCESS • Development program goals • Define site, zoning, and geography • Quickly test property opportunity • Establish massing and building typography options • Establish matrix for units and square footages • Cost variables for options
DEVELOPMENT POTENTIAL • Complete building concept massing and plans • Finalize development matrix for units and square footages • Establish zoning, entitlement process, and schedule • Define building cost projections
FASTER. CHEAPER. BETTER.
BKV GROUP | 3
PATHWAYS TO PENCIL How do we afford our great work? Our favorite project is one that leases up quickly, where the developer makes a ton of money, and hires us for the next one!
• Cost adaptations • Streamline schedules • Reduced Change Orders • Follow the sun model • Rapid prototyping of site plans • Cross-sector knowledge and integrated services • Fast lease up success and smoother permitting • Superior rents through great design that keep renewals strong • National best practices driving lower construction costs with efficient units
PERFORMANCE-DRIVEN DESIGN.
BKV GROUP | 5
ANALYSIS PATHWAY
PROFORMA DEVELOP Idea
The Goal: Once the developer D E VE
identifies a site opportunity, BKV quickly provides the site zoning, density, massing typology, and cost parameters for the developer to prepare a proforma and analyze next steps for site control.
Developed Units
LO
PE
Market
R
300
Developed Unit s
Development $/DU Site Availability SF/A
CONSTRUCTION TYPE COMPARISON
Building Height (Stories above grade)
18
MASS TIMBER 16
8
C ONCRET E
P ODIUM 4
WR A P 3
GA R DEN
C OL D - FOR MED METAL FR AMING
BKV RESOURCE
PMENT
BKV GR O
Design!
Site
UP
Site Massing Study
Project Program
Review, Zoning,
Developmental
Concept Plans & Matrix
Site Capacity
Typologies
TYPE 5
Wood Townhomes & Walk-ups TYPE 5
Wood Garden $/SF/DU
TYPE 3
Wood Wrap TYPE 3
Wood Podium
Review, Concepts
Site Controls
Finalize Program Matrix
Finalize Site LOI
Zoning & & Plans Fresh Cost Parameters
Establish Design Process & Schedule
Approach
TYPE 1
CFS Super Podium TYPE 1
Concrete Mass Timber Precast Podium
BKV GROUP | 7
TYPE V | WOOD TOWNHOUSE & WALK-UPS
GARAGES TOWNHOMES y 2-story building y 2 over 2
BUILDING y Type V Wood Construction y 3-story building | 35-39’ Height y 300 Units | ~1,000 GSF/DU y Slab on Grade Construction
CLUBHOUSE
SITE y Site: 5-20 AC y Townhomes: 6-14 DU/AC y 3 story product: 224 DU/AC y 4 story surface parked: 30-40 DU/AC
SURFACE PARKING y 1/bedroom or 1.6-1.8 per unit, depending on mix
COURTYARD
CONSTRUCTABILITY • GSF Building: 300,000GSF ○ $180k - $190k/DU Apartments ○ $100/SF TH (Vertical Only), $180 - $190k/SF (incl. site dev. work) • GSF Parking: 105,000GSF • $/Stall: $10k (incl. sitework per space) • Total GSF: 300,000GSF | Total $: $54M • Construction Timeline: 18 - 20 months
BKV GROUP | 9
TYPE V | WOOD TOWNHOUSE & WALK-UPS > Relevant Comps
Art Space, Silver Spring, MD
DR Horton
View at Manor Crossings, Manor, TX
BKV GROUP | 11
TYPE V | WOOD “GARDEN STYLE” OPTION
BUILDING y Type V Wood Construction y 4-story building | 45’ Height y 300 Units | ~1,000 GSF/DU y Slab on Grade Construction
POOL
SITE y Site: 6 to 8 AC y 30-50 DU/AC SURFACE PARKING y 1/bedroom or 1.6-1.8 per unit, depending on mix
COURTYARD
CLUBHOUSE
CONSTRUCTABILITY • GSF Building: 300,000GSF ○ $200k - $210k/DU Apartments ○ $185 - $195k/SF (incl. site dev. work) ○ $/Stall: $10k (incl. sitework for SP) • Total GSF: 300,000GSF | Total $: $54M • Construction Timeline: 18 - 20 months
BKV GROUP | 13
TYPE V | WOOD “GARDEN STYLE” OPTION > Relevant Comps
Waterford Bay, St. Paul, MN
Bowline, Champlin, MN
Loden SV, Shoreline, MN
BKV GROUP | 15
TYPE III | WOOD "WRAP” OPTION
BUILDING y Type III Wood Construction y 5-story building | 55-60’ Height y 300 Units | ~1,000 GSF/DU y Slab on Grade Construction
AMENITY
SITE y Site: 3.5-5 AC y 50-60 DU/AC : 4 story y 70-80 DU/AC: 5 story SEPARATE PARKING RAMP y 1.5 spaces/unit
COURTYARD
CONSTRUCTABILITY • GSF Building: 330,000GSF ○ $215k - $225k/DU Apartments (incl. site) ○ $215 - $225k/SF (incl. site) • GSF Parking: 99,000GSF ○ $/Stall: $25k - $28k/Space
• Total GSF: 429,000GSF | Total $: $64.5M • Construction Timeline: 20 -24 months
BKV GROUP | 17
TYPE III | WOOD "WRAP” OPTION > Relevant Comps
Harwood Flats, Bethesda, MD
Scranton Peninsula, Pittsburgh, PA
The Standard at Auburn, Auburn, AL
BKV GROUP | 19
TYPE III atop TYPE I | WOOD "PODIUM” OPTION
INTERNAL CLUBHOUSE
2-LEVEL SEPARATE PARKING RAMP y .66 Spaces/Unit y 200 spaces TOWNHOMES
AMENITY
SITE y Site: 1½ - 1¾ acres y 200 - 170 Units per Acre BUILDING y Type III Wood Construction y 7-story building | 75’ Height y 300 Units | ~900 GSF/DU y Concrete Podium
PODIUM POOL RETAIL
CONSTRUCTABILITY • GSF Building: 270,000GSF ○ $220k - $230k/DU Apartments ○ $220 - $230k/GSF • GSF Parking: 66,000GSF with Transfer Slab ○ $/Stall: $35k - $45k/Stall • Total GSF: 336,000GSF | Total $: $73M • Construction Timeline: 24 months
BKV GROUP | 21
TYPE III | WOOD "PODIUM” OPTION > Relevant Comps
The Lucie, New Carrollton, MD
Indentity Dinkytown, Minneapolis, MN
The Fred, Edina, MN
BKV GROUP | 23
TYPE I | "SUPER PODIUM" OPTION
6-LEVEL SEPARATE PARKING RAMP y .66 Spaces/Unit y 200 spaces
AMENITY
BUILDING y Type I CFS Construction y 12 to 13-story building | 130’ Height y 300 Units | ~900 GSF/DU y Concrete Podium SITE y Site: 2/3 - 1 acre y 450 - 300 Units per Acre INTERNAL CLUBHOUSE PODIUM POOL
RETAIL
CONSTRUCTABILITY • GSF Building: 270,000GSF ○ $255k - $285k/DU Apartments ○ $280 - $315k/SF • GSF Parking: 66,000GSF with Transfer Slab ○ $/Stall: $40k/Stall - $50k/Stall (Above Grade)
• Total GSF: 336,000GSF | Total $: $81.5M • Construction Timeline: 24-28 months
BKV GROUP | 25
TYPE I | "SUPER PODIUM" OPTION > Relevant Comps
1001 Broad Street, Philadelphia, PA
Modera Katy Trail, Dallas, TX
East Lansing | Lansing, MI
BKV GROUP | 27
TYPE I | CONCRETE, MASS TIMBER, PRECAST "PODIUM" OPTION
BASEMENT PARKING
y .66 Spaces/Unit y 200 spaces
AMENITY
BUILDING
y Type I Concrete Construction y 28 to 30-story building | 300’ Height y 300 Units | ~900 GSF/DU y Concrete Podium
SITE
y Site: ½ - ¾ acre y 400 - 600 Units per Acre INTERNAL CLUBHOUSE PODIUM POOL RETAIL LOBBY
CONSTRUCTABILITY • GSF Building: 270,000GSF ○ $325k - $335k/DU Apartments ○ $360 - $370k/SF (incl. site) • GSF Parking: 75,000GSF with Columns ○ $/Stall: $55k/Stall - $65k/Stall • Total GSF: 345,000GSF | Total $: $102.5M • Construction Timeline | 24 - 28 months
BKV GROUP | 29
TYPE I | CONCRETE, MASS TIMBER, PRECAST "PODIUM" OPTION > Relevant Comps
240 Park, Minneapolis, MN
81 Orange, Newark, NJ
The Mark, Philadelphia, PA
BKV GROUP | 31
C H I C AG O
DALLAS
MI N N EAPOLI S
WASH INGTO N, DC
209 South LaSalle Street The Rookery, Suite 920 Chicago, IL 60604
1412 Main Street Adolphus Tower, Suite 700 Dallas, TX 75202
222 North Second Street Long & Kees Building, Suite 101 Minneapolis, MN 55401
1054 31st Street NW Canal Square, Suite 410 Washington, DC 20007
P 312.279.0470
P 469.405.1196
P 612.339.3752
P 202.595.3173
W W W . B K V G R O U P. C O M