Greencastle Stellar Communities - Association of City of Greencastle •DePauw University...
Transcript of Greencastle Stellar Communities - Association of City of Greencastle •DePauw University...
Greencastle Stellar
Communities Indiana Association of Counties
May 13, 2014
Greencastle
• Greencastle and North Vernon – Round 1 – 2011
• Partners
• City of Greencastle
• DePauw University
• Community Organizations
• Private Sector
• Focus – Building the Next Great College Town
Projects
• Anderson Street Entrance to DePauw University
• Downtown Facades – two phases
• Bookstore/Coffee Shop/Community Room/Apartments
• Parking
• Streetscape – three phases – links to campus
• Owner Occupied Rehabilitation – two phases
• Loft Housing – one phase/multiple owners
• Community Health Clinic
• Multi-use Trail
Anderson Street
Eli’s Books & Starbucks
Owner Occupied Rehab
Facades
Disaster & Recovery
• May 17, 2013 Fire Guts Four Buildings
Streetscape 1
Parking
Lessons Learned
• Importance of Planning – Program = Reality
• Importance of Patience
• Funding promised but applications still required
• Importance of Partnerships – Today and Tomorrow
• Importance of Adaptability and Flexibility
• Context of the Larger Community
• Learning Curve for Both State Agencies and Locals
• Rally Local Resources
Results – 2012 to 3Q 2013
• $2.3 Million in City Funds Invested
• $4.9 Million in Stellar Agency Funds Invested
• $4.6 Million in Private Funds Invested – More to Come
• $96.5 Million Community Wide Investment
Product
Development Indiana Association of Counties
May 13, 2014
Community as Product
• Talent and Workforce
• Community – Quality of Life/Amenities
• Schools and Community Institutions
• Housing
• Community Infrastructure
• Utilities
• Transportation
• Inventory of Sites
• Inventory of Buildings – Focus of this presentation
IEDC Trends 2012-2014
60% 20%
20%
Type of Site Search
Building Site Building or Site
IEDC Trends 2012-2014
33%
67%
Requested Geography of the Site Search
Statewide Specific County(s)
IEDC Trends 2012-2014
38%
20%
42%
Ownership Options in the Site Search
Purchase Lease No Preferance
IEDC Trends 2012-2014
72%
28%
Rail Access Requested in the Site Search
Rail Not Requested Rail Requested
IEDC Trends 2012-2014
• Site Size – Preferences for Competitive Projects
• 6-10 Acres – 15 Requests
• 11-20 Acres – 27 Requests
• 21-30 Acres – 19 Requests
• 31-40 Acres – 16 Requests
• These fall into the typical sites available either as stand
alone sites or within industrial parks.
IEDC Trends 2012-2014
• Building Size – Preferences
• 26-50,000 Square Feet – 38 Requests
• 76-100,000 Square Feet – 35 Requests
• 151-200,000 Square Feet – 29 Requests
• These fall within the range of typical shell buildings
• 2012-2013 Ceiling Height Requirements – 24-30 Feet
• 2014 Ceiling Height Requirements – 25-35 Feet
Why a Shell Building?
• Next step up from a shovel ready site or a virtual
building.
• Firms need to move fast! Saves 6-9 months.
• Opportunity to be a step above the competition.
• In smaller communities, the speculative developers do not
operate.
• Opportunity for new business recruitment and retention.
Greencastle
• Research – Key Findings
• 50,000 square feet is a sweet spot
• Minimum of 24 feet clear height; no floor
• Expandable to 100,000+ square feet
• Image – Not just a metal building
• Increasing requests for buildings
• Few options available in west central Indiana in 2006
• Decision to move forward in late 2006
• Finished in September 2007
• RECESSION!
Greencastle
Greencastle
• Partnership
• City of Greencastle Redevelopment Commission
• Garmong Development Company
• Greencastle/Putnam County Development Center
• Roles
• City – Site, Infrastructure, Partial Interest Subsidy
• Garmong – Construction, Ownership, Operating Costs
• G/PCDC – Marketing, Tours, Coordination
Greencastle
• Marketing
• Website
• Brochure
• Submissions to IEDC and Clients
• Tours
• Trade Shows
• Mailings/Contacts with Site Selectors & Realtors
• Coordination
• Regular building checks
• Usual economic development activities
Greencastle
• Outcomes
• Presented to over 150 clients – many projects during the
recession never materialized
• Leased in 2012 by a local company
• Completing the project did not jeopardize future options
• Now generating tax revenue
• While leased no interest subsidy required
Around the State
• Terre Haute/Vigo County – 98,000 Square Feet
• Franklin/Johnson County – 50,000 Square Feet
• Muncie/Delaware County – Several – 200,000 Sq.Ft.
• Bluffton/Wells County – 200,000 Square Feet
• North Vernon – 50,000 Square Feet
• New Castle/Henry County – 50,000 Square Feet
To name just a few around the state.
Contact Info
Thank you for your interest!
William A. Dory, Jr.
Executive Director
Greencastle/Putnam County Development Center
765-653-2474