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04-05-2022 Sound TransitFederal Way Transit Center Transit- Oriented Development (re)Introduction 41512022 VSOUNDTRANSIT as _ C i OWL slam _. 0 Bois' �- — c— '�. a ��$ .� -.��- � • �f. _ �_ _ _�� 'ems 0 r v 2 T SOUNDTRANSIT What is "surplus" property? • ST only acquires property to build & operate the transit system • Once transit construction is complete, the agency may have property that is no longer needed for a transit purpose • ST's Board may designate this property surplus and available for TOD and/or disposition Surplus property from the initial Federal Way Transit Center was used to build the agency's first TOD project, Senior City. What is Transi PPPPP Higher High -capacity Reduced Pedestrians Mix of uses to densities and transit automobile and cyclist- rmeet daily compact form parking friendly needs 'Pq 7i �� r�r �= Ir W9 19 RL WA VSouNDTRANSIT Where are TOD opportunities? OPERATIONS FOOTPRINT - - - - - - r - - Permanent transit uses and potential joint development CONSTRUCTION FOOTPRINT i - - - I Construction staging may be redeveloped after transit purpose as Agency TOD Agency TOD Example: Artspace Mount Baker Lofts COMMUNITY TOD Area within comfortable walking distance to station (10-15 minutes) Community TOD Example: Mercy Housing Gardner House Statute direction on surplus property (RCW 81.112-350) >_80% of property suitable for housing must be first offered for affordable housing creation >_80% of created units must be affordable Units must serve those earning <_80% of area median income Equitable TOD Policy riW' Goals: Increase ridership 41 Support growth plans Engage communities 41 Integrate TOD into transit planning Create housing, especially affordable housing 41 Encourage safe and easy access to transit ' � �� enwu ueve�opment .r y u� ILI Applying policy to individual projects i • Inform goals through community, jurisdictional, and stakeholder engagement • Assume an affordable housing outcome at each station with TOD property • Assume mixed -use, mixed -income outcome on large multi -building sites • Maximize property revenue from market - rate development and minimize property costs to create affordable housing • Partner to align funding resources Major phases of TOD at Sound Transit i' S •� a""_, � e � fit• a. � � ` Station Planning Explore Opportunities TOD Implementation - fir►. 4 IOC Citk, F e1� _� '*'•F 'ram �. T SOUNDTRANSIT Example: Senior City (cont.) 62 units of affordable senior housing, serving <_60% AMI Korean Women's Association & Common Ground 385746 SF site adjacent to FWTC Garage $17 million investment First ST TOD project! 0 --Mew P 71� 77 000- 0 Ow 00yoll Oslo! 10 Ko Example: Capitol Hill TOD (cont.) Four buildings 41 Over two acres built around station Gerding Edlen & Community Roots Housing 428 housing units Over 41 % affordable units 30,000 SF retail Public plaza AIDS Memorial Pathway 41 Extensive design coordination Example: Cedar Crossing (cont.) TOD adjacent Roosevelt Statio Bellwether Housing & Mercy Housing NW Discounted land 254 housing units All units affordable <_60% AMI 125000 SF retail El Centro de La Raza multi- lingual daycare Opens 2022 Example: Spring Districtll2othStation TOD Example: Spring Districtll2othStation TOD Building Uses ce sidential idential Mixed -use Offi Market -rate Re Affordable Res � Binding 4 GI f 8uildirt 6 } 1h II Example: Spring Districtll2othStation TOD Mixed -use, mixed -income project across 6.8 acres Developer constructing site infrastructure (streets, streetscapes, utilities, open space) 41 Phased project, with housing developed first and office phased -in over up to a 10-year period, as market allows Affordable housing includes 230 long-term units and 50 MFTE units in market rate buildings Realizing results through partnerships Pairing discounted/no-cost property with affordable housing funding in RFPs to developers Attracting public and private resources, such as $100 million loan commitment from Amazon Housing Equity Fund to Sound Transit properties Creating innovative solutions to complex real estate problems Cedar Crossing TOD project scheduled to open in 2022. This project was made possible in part by a discount in land value paired with city affordable housing funds to support affordable housing outcomes. TOD Opportunities at the Federal Way Transit Center FWLE Development Agreement • 2019 agreement between City and ST outlines coordination on redevelopment of future surplus property at FWTC • Mixed -use, mixed -income approach consistent with ST Equitable TOD Policy and City vision for compact, mixed income, and walkable urban center ST TOD Process DEFIN • Implementation concurrence 6 mo. "The HOW" Suitability, offering strategy; TOD goals defined 8m. "The WHAT" DEVELOP ST Board policy direction; Dev. partner(s) selected Design development, Permitting, Financing CONSTRUCT Negotiation, agreements, and legal documents complete Permits issued and ready DEFINE Process to define the TOD project and prepare to procure a TOD developer. ST and City concur on property offering strategy and terms. DEVELOP Process to prepare and release the RFP, select a development partner, and negotiate agreements, and finalize the transaction. ST Board takes action to determine site suitability, method of offer, and terms. Project secures FTA approval. Developer pursues design, permitting, and financing concurrent with final negotiations. TOD substantial completion FWTC Site Layout Progression wnq Gray lXvm FrcldcgnwilizLde 5]G"4 alp larval m7x'aT.mrter rd 5 S1Rh Aral eM 33yd Awur 5 and dhai adli3anas iNicalyd 2019 site design —Approximately 4 t kddmdmb]r cd • rar�n �z zoie. nrrcar�m�m �o acres of surplus property, 3-4 pad sites • Street grid to support transit and TOD access • Urban framework consistent with City _ Y li Prain>r Pt4up _ Center vision created by City of Federal Way FWTC Site Layout Progression • 2021 updated design — Between 5-6 acres of surplus property, 4-5 pad sites • Additional surplus may provide additional TOD opportunities Expanded Parkng Snuc!ure .' ', Exslirg Parkng SMMre Trashand T.rrJorrter ErkEosree North StationNorth Station Fimy r Paranr& h Passenger DFq)-OH SOrldt Station ktmy @ S 318th s!reet ,Ea r�rr■ -� FRI Early Exploration • TOD "massing" study explores multiple building configurations and programs • Mixed -use, mixed -income site • Site layout offers flexible designs and programs FWTC TOD Next Steps • Traffic study underway, targeted for completion in May • TOD feasibility study and community engagement to follow • ST Board surplus action, as well as review & approve development strategy Questions? 41 i 1010 i NO �F 'nl J, '4 4. Pq .-W FW�� VSouNDTRANSIT Thank you. VSouNDTimNsIT soundtransit. org