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1
Streetcars & Cities in the 21st Century.
Charlotte, North Carolina
October 11, 2007
2
Elizabeth Avenue
3
4
Johnson & Wales University
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CPCC: Central Campus Master Plan
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CPCC: Central Campus Master Plan
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Presbyterian Hospital
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Elizabeth Avenue
(before)
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Elizabeth Avenue
(planned)
10
Elizabeth Avenue @ Hawthorne Avenue
(planned)
11
Retail
250,000 SF
Office
200,000 SF
Medical Office
250,000 SF
Residential
1,000 Units
Hotel
200 Rooms
Parking
4,000 Spaces
* Does not include adjacent corridor development
Elizabeth Avenue : Projected Build Out
12
Elizabeth Avenue:Projected Valuation Metrics
Baseline Tax Value (2003) $31,582,110
Projected Tax Value $350,000,000
% Value Increase 1,008%
Projected Annual Property Tax $4,540,550
Total Annual Sales Tax Revenue $5,625,000
1/2 Cent Transit Tax Component $375,000
10 yr Property Tax Revenue $52,052,317
10 yr Total Sales Tax Revenue $64,484,321
10 yr Transit Tax Revenue Component $4,298,955
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Central Avenue / Barnhardt TOD
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Central Avenue @ Hawthorne Avenue
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Central Avenue, Hawthorne Avenue, Barnhardt TOD & Adjacent Areas
(Potential)
Streetcar Transit Loop
Transit OrientedMixed-Use
Development
Belmont Neighborhood
Mixed-Use Development
Corridor
Plaza - Midwood Neighborhood
Seigle PointMixed-IncomeCommunity
Central Avenue
ElizabethNeighborhood
Sugar Creek Greenway
Recreation & Open Space
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Barnhardt TOD : Projected Build Out
Retail
120,000 SF
Office
250,000 SF
Residential
950 Units
Parking
2,550 Spaces
* Does not include adjacent corridor development
17
Barnhardt TOD:Projected Valuation Metrics
Baseline Tax Value (2003) $3,795,800
Projected Tax Value $220,000,000
% Increase 5,696%
Projected Annual Property Tax $2,854,060
Total Annual Sales Tax Revenue $2,250,000
1/2 Cent Transit Tax Component $150,000
10 yr Property Tax Revenue $32,718,599
10 yr Total Sales Tax Revenue $25,793,728
10 yr Transit Tax Revenue Component $1,719,582