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Progress Report to City Council on the Northeast Master Planned Community

Progress Report to City Council on the Northeast Master Planned Community. Presented by Ed Archuleta, P.E., General Manager El Paso Water Utilities. June 5, 2007. Today’s Presentation. Overview of EPWU Initiative Goals Major Steps RFQ Status RFQ/Bid Process

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Progress Report to City Council on the Northeast Master Planned Community

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  1. Progress Report to City Council on the Northeast Master Planned Community Presented by Ed Archuleta, P.E., General Manager El Paso Water Utilities June 5, 2007

  2. Today’s Presentation • Overview of EPWU Initiative • Goals • Major Steps • RFQ Status • RFQ/Bid Process • Scoring Mechanisms & Process • Characteristics of Qualified Teams • Six Qualified Teams • Next Steps

  3. RFQ / Bid Process Goals • Initiate a major public/private project to address El Paso and Ft. Bliss growth • Create a significant and steady supply of parcels and lots • Give to El Paso a major new community based on Smart Growth and Sustainability • Obtain local involvement in creating community – in master plan and RFQ

  4. RFQ / Bid Process Goals • Provide long-term infrastructure, amenities and community facilities • Leverage the value of a major parcel to attract high level of private investment • RFQ Screening for Experience and Minimum Qualifications • Sealed BID process to follow to insure best price and development standards • Development requirements and covenants included in sale

  5. Major Steps • 2006 • 1st Qtr – Market Analysis and Ft. Bliss Growth Analysis • 2nd Qtr – Infrastructure and Parcel Analysis • 3rd Qtr – Conceptual Master Plan and Community Input • 4th Qtr – Issuance of RFQ to attract qualified bidders • 2007 • 1st Qtr – Adoption of Amended Northeast Master Plan • 2nd Qtr – Receipt of RFQ Submissions and Interviews • 3rd Qtr – Bid Process/Land Sale • 4th Qtr – Developer Approvals/Site Planning underway • 2008 • 1st-4th Qtr – Phase I Infrastructure underway • 2009 • 1st Qtr – First residential communities underway

  6. Evaluation Committee • Fermin Acosta, Chairman - PSB • Richard Martinez, Vice Chair – PSB • Pat Adauto, Deputy City Manager • Alan Shubert, Acting City Engineer • Ed Archuleta, General Manager – EPWU • Nick Costanzo, Asst. Gen. Mgr – EPWU Technical and Legal Assistance: • Bob Andron, General Counsel • Syd Falk, Bickerstaff Heath Pollan & Caroom, L.L.P. • URS personnel

  7. Scoring of Submissions • Organizational Strength and Capacity • 10 Points • Financial Requirements/Qualifications • 30 Points • Planning & Vision Qualifications • 20 Points • Local Participation and HUB • 10 points each (20 total) • Minimum Qualifying Score • 55 points

  8. RFQ Status • Ten teams submitted • Eight teams interviewed on April 18-19 • Six teams determined as qualified • Two national teams • Four local/regional

  9. Characteristics of Qualified Teams • All teams are land developers – not homebuilders • Every team planning first priority to qualified local homebuilders • All willing to form partnerships, ventures, spec building, and flexible lot purchase terms with local builders and firms • Some national or regional builders for new products – retirement, etc.

  10. Characteristics of Successful Teams • All utilizing regional or national planning staff/firms, but local professionals for services available in El Paso • All indicated it is most cost efficient to buy most of supplies locally • All committed to meet or exceed the minority/disadvantaged HUB goals

  11. Six Teams Qualified • Cousins Properties – Atlanta • E2M/EPT - Dallas and El Paso • Forest City/Covington – Cleveland/ El Paso • Hunt Communities – El Paso • Scarborough Lane Development – Dallas and El Paso • Southwest Land Development – El Paso Presented in alphabetical order

  12. Cousins Properties • Headquartered in Atlanta since 1962 with national development portfolio • Publicly traded REIT - invests $200-$400 million per year in new development • Capabilities in land development, office, retail and mixed use • Willing to sell, advance lots, partner and profit-participate with homebuilders • Developing three master planned communities in Texas now • Locally is an investor in Verde with Bill Sanders

  13. E2M / EPT • E2M, private equity firm in Dallas • EPT Land – El Paso – Richard Aguilar, Dr. David Masel and William Erlich • Holliday Fenoglio Fowler hired to access national capital markets • Anticipates 80% of homes by local homebuilders and 70% HUB compliance • Conde, Megacon and other local firms on team

  14. E2M / EPT • E2M is completing large master planned community in Florida-Hammock Dunes • EPT is completing 1,700 residential units on land purchased from EPWU • Vision – use national marketing, mix of product, Energy Star, retirement potential • Vision includes multiple price points, small neighborhoods, family amenities, and low energy use design.

  15. Forest City / Covington • Forest City is $9 billion NYSE company with development in 25 states • 50/50 with Covington Capital on this project – previously partnered on Paseo Del Estate in El Paso and Mesa del Sol in Albuquerque • National commitment to HUB and minority participation in all projects • Willing to share risks with homebuilders and create builder education programs

  16. Forest City / Covington • In depth experience in public/private partnerships – Gladden Farms in Tucson and Stapleton in Denver • Vision – design guidelines, Energy Star, new urbanism, Stapleton quality • Now perceive El Paso as a growth market and part of their southwest strategy

  17. Hunt Communities • Based in El Paso since 1947, four generations of family, strong financials • Full-service investment, development, management, marketing capabilities • Experienced in funding mechanisms and working with City and EPWU • Committed to solicit primarily from local suppliers and builders • Would be focused on “horizontal development” – with building by others

  18. Hunt Communities • Applying new urbanism/smart growth to El Paso: Cimarron and Paseo del Este • Project management capabilities: over 19,000 units of military related housing • Vision: hike and bike system, large park areas, comprehensive infrastructure • Kimley-Horn designated as designer • original Northeast Master Plan • familiar with site • involved in other Hunt Communities • creates design guidelines

  19. Scarborough Lane Development • Partnership Entity • Scarborough Lane Development of Dallas • Paul Foster, CEO, Western Refining • Teamed with Bohannon Development Corporation • Funding • Paul Foster • Bank of the West • other partners • Many local and minority professional firms on team • Quantum Engineering Consultants • Local builders most important for project • Potential for 1-2 regional players

  20. Scarborough Lane Development • Comprehensive visual presentation • Vision: new town centers, utilization of waterways, connected neighborhoods, themed entry ways, public amenities • Experience: 3,200 acre Travis Ranch near Dallas – 1,200 units in 2+ years • Carter-Burgess designated as designer • Fort Worth • Experienced in master planned communities • Design guidelines • Town center design

  21. Southwest Land Development • Associated with Foster-Schwartz Companies – based in El Paso 40 years • Committed to local homebuilders and to HUB • Fugleberg Koch Architects, Orlando, currently designing Hueco Club Estates • Bohannon Development- development partner • Rocky Mountain Mortgage, Chase Bank and Wells Fargo financial partners

  22. Southwest Land Development • Vision: adapt new urbanism principles of Hueco Club Estates to the site • Extensive experience in El Paso, with EPWU and with non-profits

  23. Summary • Six teams met criteria: • Organizational Strength and Capacity • Financial Requirements/Qualifications • Planning & Vision Qualifications • Local Participation and HUB • Minimum Qualifying Score

  24. Six Teams Qualified • Cousins Properties – Atlanta • E2M/EPT - Dallas and El Paso • Forest City/Covington – Cleveland/ El Paso • Hunt Communities – El Paso • Scarborough Lane Development – Dallas and El Paso • Southwest Land Development – El Paso Presented in alphabetical order

  25. Next Steps

  26. Next Steps • Notification of qualified teams – May 9, 2007 • Finalize appraisals, survey and bid document – May 31, 2007 • PSB sets minimum bid price – June 13 2007 • Request for bids – June 14, 2007 • Receipt of bids – July 31, 2007 • PSB recommends award August 2007 • City Council awards sale of Parcel MPC September 2007

  27. Questions & Comments

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