1. Davidson Catalyst Site Project/Process Overview
Development Finance Initiative (DFI), February 5th, 2015

2. Agenda About DFI Project Overview Market Potential Process Overview
Feedback
Next Steps
Source: North Carolina Downtown Development Association

3. Development Finance Initiative
The Development Finance Initiative (DFI) at the UNC School of Government partners with local governments to attract private investment for transformative projects by providing specialized finance and development expertise.
DFI team includes subject matter experts in:
Community and Economic Development (CED)
Real Estate Development & Finance
Public Finance
Land Use and Planning
Market Analysis
Public Private Partnerships

4. Catalyst Site
- Site Area

5. Catalyst site pre-development objectives
Meet need for increased Town Hall space
Respond to current demand and attract more private investment downtown
Build a long-term parking solution
Connect and extend the downtown commercial corridor
Create a viable Public-Private Partnership that will attract high quality private development interests

6. Market Potential Market fundamentals in Davidson are strong
Sufficient demand exists to support retail, office, and residential growth
Population & employment opportunities expected to continue increasing
Catalyst site is well situated as a site for development downtown

7. How is the final use determined?
Public Process
Market Analysis
Financing
Site Analysis
Program
Iterative process to get to the final development program… we work on each aspect of the project separately at different stages but they can’t be completed in isolation. Once we arrive at what the market can bear from our market analysis, that doesn’t mean that the site can bear it or that it’s financially feasible. Must find the sweet spot where they all intersect. Want to find the nexus that satisfies all constraints.

8. Public feedback What do you see as the future of downtown Davidson?
Current built environment is 45% commercial, 55% other (Single family, Gov’t, industrial)
Only 2.5% residential
What is missing along Main Street?

9. Public feedback Is the current amount of parking downtown adequate?
2011 study identified a surplus overall, but predicted potential deficit surrounding the Catalyst Site with increased development

10. Public feedback What principles should guide downtown development?
Maintaining the current urban fabric
Continuing the commercial corridor along Main St

11. Next Steps Incorporate today’s feedback into the development process
Site analysis/design
Refine program based on public/private interests, site analysis and financial feasibility