Case Studies in Brownfield Redevelopment

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Case Studies in Brownfield Redevelopment CREW
Midwest Regional Conference April 24,
2009 Moderator Christine Russell, Director of
Brownfield Development, Port of Greater
Cincinnati Development Authority Speakers Chris
Dobrozsi, Vice President of Real Estate
Development, Al. Neyer, Inc. David Birdsall,
Chief Development Officer, Phillips Edison
Company
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What is an Ohio Port Authority?

• Quasi-governmental organization
• Ohio port authorities promote economic
  development within a specified jurisdiction
• Port of Greater Cincinnati Development Authority
  was jointly formed by the City of Cincinnati and
  Hamilton County to perform brownfield
  redevelopment and development bond financing

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Brownfield Redevelopment
150 acres, 10.72MM in Clean Ohio Fund Grants
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What is a Brownfield?

• Property that the expansion, redevelopment, or
  reuse of which is complicated by the presence or
  potential presence of environmental contamination
• U.S. Environmental Protection Agency estimates
  that there are more than 450,000 brownfields in
  the United States

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Brownfield Challenges

• Added uncertainty associated with the cost and
  schedule of environmental cleanup
• Added complexity with potential grant
  applications and additional team members needed

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Brownfield Benefits

• In industrial cities, the most well-positioned
  properties may be brownfields
• Take advantage of existing infrastructure
  roads, sewers, water, public transportation
• Potential for increased community and municipal
  support of a redevelopment project
• LEED credits for redeveloping a brownfield and
  recycling demolition debris

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Brownfields in Ohio

• Clean Ohio Fund
• Up to 3 million in state-funded grants for
  acquisition, assessment, demolition, remediation,
  and infrastructure
• Ohio Brownfield Revolving Loan Fund
• Low-interest loans for hazardous substance and
  petroleum remediation

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Contact Information

• Christine Russell
• 513-621-3000
• crussell_at_cincinnatiport.org
• Chris Dobrozsi
• 513-271-6400
• cdobrozsi_at_neyer.com
• David Birdsall
• 513-554-1110
• dbirdsall_at_phillipsedison.com

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BROWNFIELD REDEVELOPMENT
A Tale of Two Cities
Norwood, Ohio

• Chris Dobrozsi, CCIM
• Vice President, Real Estate Development
• Al. Neyer, Inc.
• April 24, 2009

Cincinnati, Ohio
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And, a Tale of Two Boys
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Who We Are

• Integrated real estate development,
  design-build and asset management firm
• Family business established in 1894
• Fifth generation of Neyer leadership
• Reputation for quality and integrity
• Current projects for Cincinnati Childrens
  Hospital Medical Center, dunnhumbyUSA, Paychex,
  Appliance Dealers Cooperative and State Farm

View testimonials at www.neyer.com
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Who We Are

• 82 million, 71 on staff
• Developers and financial analysts
• Architects and designers
• Engineers and construction professionals
• Asset and property managers
• 6 LEED Accredited Professionals
• Projects in 15 states
• Over 2 billion in development and construction
  project experience

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Brownfield Development 10 Years Ago
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Today It Takes a Team
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Geographic Center of Cincinnati
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Former Globe-Wernicke Site, Norwood, Ohio
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Backstory

• Years in the Making
• Initially contacted GM in 1995
• GM 15.4 acres closed October, 2002
• First negotiated CNS for environmental
  responsibility
• Acquired additional 7.5 acres for multiple owners
  over the next four years
• Total of 23 Acres
• Received 750,000 Clean Ohio Fund Grant in 2005

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Due Diligence
1. Brownfield site/ Environmental (site
history) 2. Geotechnical investigations/ Existing
structures/Remnants 3. Utilities
infrastructure 4. Roadway infrastructure 5.
Development plan/ Zoning/ Surrounding
community 6. Incentives 7. Financing 8. Pro Formas
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Site Remediation
Permanganate Injection
Void Treatment
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Vision
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Fast Facts

• 22.7 acres
• 9 buildings planned about 600,000 sf
• Parking for 2,000 vehicles
• Completed value over 105 million

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Linden Pointe
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Linden Pointe
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Commercial Viability
Office and Retail Leasing SHP Leading
Design 22,405 square feet Public
Safety 4,009 square feet Brown Mackie
College 28,240 square feet Cumulus 16,288
square feet Shapiro, Van Ess Phillips,
L.L.P. 10,056 square feet Amedisys 3,500
square feet Huntington Bank 2,487 square
feet Papa Johns 2,034 square feet
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The Gold Standard

• SHP Leading Design built LEED-CI Gold certified
  office space aligning with sites sustainable
  identity.

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Norwood Community Benefits

• Over 2,000 jobs created
• 1.75 million in new property taxes
• New places to eat and shop
• Interesting architecture
• Green space in the city
• A truly blighted area replaced with an
  attractive, bustling mixed-use center

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Norwood Community Benefits
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Metrowest Business Park

• Reclaimed Queen City Barrel site
• Environmental disaster zone
• 18 acres located 3 minutes from downtown
  assembled by City of Cincinnati
• Co-development of Al. Neyer and Resurgence Group,
  LLC
• 3M Clean Ohio Fund grant received in 2007
• Cleanup began May 2008 will be complete by May
  2010
• Vision
• LEED rated industrial, flexand office park
• 250,000 SF when complete

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Southwest View from intersection of Evans and
South 5/08
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Underground Storage Tank 7/2008
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Backfilling Bldg 10 11 Basement Voids 9/08
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