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Council PKT 07-19-2011 SpecialCITY OF �,,,�.,.., Federal Way AGENDA FEDERAL WAY CITY COUNCIL SPECIAL MEETING Council Chambers - City Hall July 19, 2011 5:30 p.m. www. cityoffederalway. com 1. CALL MEETING TO ORDER 2. DOWNTOWN REVITALIZATION / AMC THEATRE SITE • Staff Presentations • Public Comment • Council Discussion 3. EXECUTIVE SESSION • Collective Bargaining pursuant to RCW 42.30.140(4}(b) 4. ADJOURNMENT The Council may add items and take action on items not listed on the agenda. COUNCIL MEETING DATE: July �r� 2011 _....._ __. CITY OF FEDERAL WAY CITY COUNCIL AGENDA BILL ITEM #: Z SUBJECT: CITY CENTER REDEVELOPMENT RFQ RESPONSES PoLiCV QUESTION: What action should the City Council take with regard to the three responses to the RFQ for the purchase and redevelopment of the former AMC Theaters site? COMMITTEE: FEDRAC CATEGORY: ❑ Consent � City Council Business STAFF REPORT BY: Patrick Attachments: Memo to FEDRAC ❑ Ordinance ❑ Resolution Background: Please see Memo to FEDRAC MEETING DATE: 6/28/1 1 ❑ Public Hearing ❑ Other DEPT: Community & Eco. Dev. Options Considered: 1. Council may accept Twin Development's request that, in response to their submitted proposal, the City enter into a new Purchase and Sale Agreement with them for the sale and redevelopment of the site. 2. City Council may request proposal-level detail, including project pro forma, property sale terms, etc., from one or both of the remaining RFQ respondents. 3. City Council may authorize a new RFQ process, perhaps with a longer response period and/or more aggressive marketing. 4. Other direction or action. MAYOR'S RECOMMENDATION: Recommendation to be presented at Committee meetin MAYOR APPROVAL: Council council COMMITTEE RECOM M ENDATI N: � r��e-faa-�or-�rr�'-��ko�r� 1 trj �artser�t aRc�rn�a fc�r approval: � ° �. ,� '-�Z L . ' ) <~�- y �-\ •' i �:' C � � ��: C i 2*--(�.�. ��-- ; � �`t l i�' � � � c ,' �� '.�"*-�' .� � - , . - � � r"Y�..�'1..aC..' f'C"��1.� ...�.,�, .�, �. Ll._�,�..,s'� ��..-C'_�1t'�c` `�,.(�.cc-r— L.�z.�.'r�c�( �...Jr��c::�J �' / \ �/�/��'% ° (� �. - — j�,i �m i ee�hair Committee Member Con�mittee Member PROPOSED COUNCIL MOTION: `7move approval of " (BELOW TO BE COMPLETED B V C/TY CLERKS OFFICE) COUNCIL ACTION: � ❑ APPROVED ❑ DENfED ❑ TABI,ED/DEFH:KItt:U/�O ACTION ❑ MOVk;D TO SF,(�OV'D RE,�DING (ordinances only) REVISED - 08/l2/2010 D[RECTOR APPROVAL: COUNCIL BILL. # �sr readin� Enactment rendin�, ORDIN.a1'CF: # RESOI.I'"170� # � CITY OF ,.�, Federal Way DATE: June 21, 2011 TO: Michael Park, Chair Finance, Economic Development & Regional Affairs Committee FROM: Patrick Doher�; munity and Economic Development Director ,, ; `„ VIA: Skip Priest, Mayor SUBJECT: City Center Redevelopment RFQ Responses BACKGROUND On April 25, 2011 the City issued a Request for Qualifications (RFQ} for purchase and redevelopment of the former AMC Theaters site. The RFQ was advertised during the month of May in the Daily Journal of Commerce, Puget Sound Business Journal, Wull Street Journal, Western Edition, the International Council of Shopping Centers website, and approximately 200 invitations were direct-mailed to developers throughout the U.S. and Canada. The RFQ response deadline was 6/6/11. The City received three responses to the RFQ from the following firms: • Williams & Dame, Portland, OR • Twin Development, Federal Way • ARCADD, West Newton, MA Here is a brief summary of each of the responses, full copies of which have been provided to each Councilmember. Williams & Dame This company has been a major player in the redevelopment in and around Portland, including substantial project experience in the Pearl District and the South Waterfront. They have a track record of public-private partnerships, as well. The team for this project would consist of: • Williams & Dame • Becker Properties, Medford, OR — senior housing • Ankrom Moisan Associated Architects, Portland • I���oward S Wright Construction Co., Portland/Seattle • OTAK, Portland/Kirkland — civil engineer The concept proposed in their response consists of a midrise mixed-use development, comprised chiefly by ground-floor retail topped by four stories of senior and regular, market-rate apartmcnts. (�our buildings would frame out the site and provide a continuous street farade with RFQ Responses 6/21/1 1 Page 2 of 3 retail storefronts along the sidewalk. The concept includes a 9,000-square-foot open space opposite the Transit Center. Parking would be located internal to the project on the surface. Williams & Dame has a track record with several funding partners, one of whom would be the financing partner in addition to the senior-housing financing which would be arranged by partner Becker Properties. Twin Development This company has reapproached the City in response to this RFQ. The team for this project would consist of: • Twin Development, LLC • Sunjin Architects, Seoul • VIA Architecture, Seattle • Ron Montoya, Keystone Enterprises, Bellevue — development/construction manager While Twin Development has not had experience with this type or scale of development, the other partners of the team have a vast array of commercial and residential development experience, including a great deal of large-scale, highrise development. The development concept remains virtually the same from the earlier proposal: a highrise, mixed-use project consisting of three highrise towers (two 38-story towers and one 22-story tower). There would be 550 residences in two separate towers; 90 officetel and 92 hotel units in the third, shorter tower; 40,000 of retail; and an approximately 1,000-space underground parking garage. The project includes a large amount of open space for both the public and the project. Twin Development essentially went one significant step further than the other two respondents by providing project-level detail and is seeking consideration by City Council at the "proposal" level. ARCADD, Iv�c. This company has historically been an architectural firm, led by Dr. Hisham Ashkouri, located in West Newton, MA (a Boston suburb). Recently the firm has taken on "internally funded" development, including a recent townhouse and retail project in the city center of Newton, MA. They have also begun other commercial projects in the Boston area that are both internally funded and developed with financing partners. The architectural practice is very diverse, international and large scale, including new� city master plans, majar civic facilities and large commercial projects. The project concept consists of severa] components arranged in a arehitecturally iconic design, intended to be of landmark stature. The following is the break-down of intended uses: • 510 residential units • 120.000 SF office and retail services • 50,000 SF recreation, cinema, restaurant, family entertainment, etc. • 75,000 SF "crystal palace" — exhibition, conference, display space • 1353 parking spaces RFQ Responses 6/21111 Page 3 of 3 The concept proposes several mid- to high-rise towers arising from a low-rise "crystal palace" — a glazed atrium-like structure for business expos, exhibitions, conferences, interactive displays, etc. Towers would reach a height of 16 stories. The project would be funded by financing partners. Review to Date Administrative Services Director Bryant Enge and Community and Economic Development Director Patrick Doherty met with Twin Development, had a teleconference with ARCADD, Inc., and Patrick Doherty has had two telephone conferences with Williams & Dame. OPTIONS TO CONSIDER l. Council may accept Twin Development's request that, in response to their proposal, the City enter into a new Purchase and Sale Agreement with them for the sale and redevelopment of the site. 2. City Council may request proposal-level detail, including project pro forma, property sale terms, etc., from one ar both of the remaining RFQ respondents. 3. City Council may authorize a new RFQ process, perhaps with a longer response period and/or more aggressive marketing. 4. Other direction and/or action.