Strategic Positioning: Becoming a Top Three Public University Financing the Mission The Future of UMore Park Board of Regents November 9, 2006
UMore Park Steering Committee Charles Muscoplat - Chair VP SSRD Larry Laukka Executive Director Carla Carlson Assistant VP SSRD Steve Goldstein Greg Cuomo Mike Denny VP Strategic Initiatives U MN Foundation Director of UMore ROC & Director of UMore Ops Director of Development Services Thomas Fisher Dean College of Design Kathy Johnson Director of Diversity CSOM Phil Larsen UMore Director of Operations Ken Larson Director of Transactional Law Services Stuart Mason Assoc VP Asset Management Dewey Thorbeck Director Center Rural Design Linda Thrane VP University Relations Sue Weinberg Director of Real Estate
The Charge to the Steering Committee To create a vision and define new opportunities for UMore Park that would maximize the value of the property, support the fundamental academic mission of the University and add value to a legacy endowment. To continue the tradition of contributing to the state by an institution that preceded the state.creating a new community is the pinnacle of public engagement, of translational research, of education that spans the lifetime
Regents Goal Develop UMore Park in a manner that furthers the University s mission. A strategic long-range master plan for UMore Park will be developed that prioritizes the University responsibilities and needs, and considers current regional planning and development activities
Regents Principles, February 2006 Protect and enhance the value of UMore Park Advance the University s mission with UMore physical and financial resources Improve the long-term financial health of the University Retain oversight of UMore Park s planning and development and remain accountable for plan Optimize the value with integrated short and long term strategies Utilize market values as benchmarks Ensure planning with highest integrity, fairness, and sound business practices Respect needs of neighboring communities and local, regional, and state governments
Our Recommendation We are bringing forward a recommendation to transform UMore Park into a sustainable University-founded community for the 21 st century. With the University s imprimatur, it will be distinctive like no other community
Our Vision Where 20,000 to 30,000 people live, work, and play Enhanced quality of life influenced by the knowledge and broad experience of the University Environmentally sensitive and energy efficient. Sustainable development all the way Intellectually and culturally rich partnered with the community and the citizens That grows the U s endowment to supplement public and private support to achieve its goal of becoming a top three public research University UMore Park: A University-founded community
Our Vision Where 20,000 to 30,000 people live, work, and play Enhanced quality of life influenced by the knowledge and broad experience of the University Environmentally sensitive and energy efficient. Sustainable development all the way Intellectually and culturally rich partnered with the community and the citizens That grows the U s endowment to supplement public and private support to achieve its goal of becoming a top three public research University UMore Park: A University-founded community
Our Vision Where 20,000 to 30,000 people live, work, and play Enhanced quality of life influenced by the knowledge and broad experience of the University Environmentally sensitive and energy efficient. Sustainable development all the way Intellectually and culturally rich partnered with the community and the citizens That grows the U s endowment to supplement public and private support to achieve its goal of becoming a top three public research University UMore Park: A University-founded community
Our Vision Where 20,000 to 30,000 people live, work, and play Enhanced quality of life influenced by the knowledge and broad experience of the University Environmentally sensitive and energy efficient. Sustainable development all the way Intellectually and culturally rich partnered with the community and the citizens That grows the U s endowment to supplement public and private support to achieve its goal of becoming a top three public research University UMore Park: A University-founded community
Our Vision Where 20,000 to 30,000 people live, work, and play Enhanced quality of life influenced by the knowledge and broad experience of the University Environmentally sensitive and energy efficient. Sustainable development all the way Intellectually and culturally rich partnered with the community and the citizens That grows the U s endowment to supplement public and private support to achieve its goal of becoming a top three public research University UMore Park: A University-founded community
Our Vision Where 20,000 to 30,000 people live, work, and play Enhanced quality of life influenced by the knowledge and broad experience of the University Environmentally sensitive and energy efficient. Sustainable development all the way Intellectually and culturally rich partnered with the community and the citizens That grows the U s endowment to supplement public and private support to achieve its goal of becoming a top three public research University UMore Park: A University-founded community
Only the University of Minnesota can build this community! Why? University knowledge will enhance quality of life» Healthy living» Lifelong learning» Natural resource management» Environmental impacts» Energy efficiency» Arts and culture» Public policy» Transportation» Prenatal health through senior health
Improving lives for the people of Minnesota Transform UMore: A Monarch to A Butterfly From Army Land to Farm Land to Grand Land
UMore Park: A Once-Ever Opportunity 12 square mile site near Rosemount. Similar in size to Edina, or Golden Valley, or Richfield Largest contiguous property in the US owned by a public research and Land Grant University. UMore Park is in the path of development currently being shaped by others.
Comprehensive Planning Comp Plans are the first major step towards realizing a University-founded Community. University planning needs to dovetail with the planning of the counties, cities and towns in the region.
: Mandatory Planning Act Requires comprehensive planning by counties, townships and cities in 2008 UMore Park is within this boundary Then plans are updated every ten years, so, We must plan now!
UMore is in the path of development
UMore Context In the Path of Development Source: Metropolitan Council, Rosemount, DSU
UMore Park Steering Committee: Extensive Due Diligence Hired Sasaki, acclaimed land use planners, to guide the visioning effort. Consulted Key Constituents (Faculty, Local Community, Regional Government, Local and National Developers). Conducted Site Visits to comparable scoped developments across the land.
What We Discovered: Key Constituents The Faculty say: Build a community founded on the breadth of University research and discovery across all disciplines Focus on sustainability in three significant areas Education, Health, and Energy Provide a research platform for a top 3 University
What We Discovered: Key Constituents Local Community and Regional Governments say: They are excited that the U has become intentional about planning for UMore future
Local Community and Regional Governments
What We Discovered: Key Constituents Major Local and National Developers say This University is the key to success of developing this once ever opportunity University research and engagement differentiates this community from every other community. Imbued with University values of sustainability, education, health, and energy.
Sasaki s Findings Steering Committee Vision and Recommendations
What Sasaki did: Analyzed regional trends and demographics Analyzed site characteristics and natural resources Conducted a market analysis and illustrated development strategies
UMore Context Dakota County Demographics 1 dot = 20 people = UMore Park Population 1990 1990 = ~ 280,000 people 2000 = ~ 350,000 people 2030 = ~ 510,000 people From 2,000 to 2030 will see a 43% increase in population; Net increase ~ 160,000 people Population 2004
Sasaki Analyzed regional trends and demographics Analyzed site characteristics and natural resources Conducted a market analysis and illustrated development strategies
Gravel Deposits: Revenue Source & Future Amenity
Land use after gravel mining. Value
Recycled concrete has value
Sasaki Analyzed regional trends and demographics Analyzed site characteristics and natural resources Conducted a market analysis and illustrated development strategies
Sasaki concluded Master planned communities yield higher values Value is further augmented by University of Minnesota research, engagement and discovery
Our Vision for UMore Park UMore Park will contribute to a better future for the residents of Minnesota as they face the emerging economic, social, environmental and globalization challenges of the 21st century. A once ever opportunity!
Our Vision for UMore Park UMore Park is envisioned as a place in which the University collaboratively engages its expertise in teaching, research and outreach across all disciplines in the creation of a new community dedicated to educational excellence, renewable energy, and healthy lives.
Our Vision for UMore Park UMore Park will be a place to discover, invent, design, build and evaluate the physical, socio-economic and institutional infrastructure of the 21st century.
Only the University of Minnesota can build this community! Why? University knowledge will enhance quality of life» Healthy living» Lifelong learning» Natural resource management» Environmental impacts» Energy efficiency» Arts and culture» Public policy» Transportation» Prenatal health through senior health
Healthy Living
Lifelong Learning
Environment, Energy and Recreation 5,000 Acres Gravel University-DNR Park Land 2,840 Acres
Arts and Culture
Agriculture and Natural Resources
Vital Community
What We Discovered: Examples of successful master planned communities
What We Discovered We are not alone: University of British Columbia, Vancouver University of British Columbia, Vancouver A Public Entity UBC converted 1,000 acres adjacent to campus into popular master planned community Student housing, senior housing, faculty housing, recreation, and retail
UBC Development Corporation Mission Statement To assist UBC in achieving its academic mandate by maximizing long term endowment while recognizing the importance of UBC s relationship with the broader community. To grow the Endowment
What We Discovered: Stapleton Stapleton, Denver A Public Entity We are not alone! City converted 4,700 acre airport into popular master planned community Public-Private Partnership with National Developer Huge success story (social and economic)
4,700 Acre Airport
By John Bebchook, September 28, 2006. The redevelopment of the former Stapleton International Airport has been a nearly $6 billion economic engine since Forest City began developing it five years ago, according to a study released Wednesday. The 4,700-acre property, often described as the largest development of its kind When the entire Stapleton development is completed, it is expected to have a $36.3 billion economic impact on the region in today's dollars, according to Development Research Partners, headed by economist Patty Silverstein. By 2020, Stapleton is expected to be home to 30,000 residents living in 12,000 homes and apartments, and to employ 35,000 people in its 13 million square feet of retail and offices. Mountain News. All Rights Reserved. Copyright 2006, Rocky
The Future of UMore Park: Three Scenarios Scenario A Hold Land Without Development Scenario B Sell Land At Wholesale Prices Scenario C Develop A New Community
Scenario A: Hold Land Without Development Patient land owner holds land for 10 years Benefit: Allows market to further mature Risk: Others plans will control the destiny and value. Missed academic opportunities
Scenario B: Sell Land At Wholesale Prices Sell raw land to developers over time Benefit: Simple, natural market demand will dictate velocity and price Risk: Modest gains from periodic sale of small parcels. Missed academic opportunities
Scenario C: Develop New Community Master plan property into cohesive community with University value-add Benefit: Advance University s academic mission and regional economic development. Maximize value Risk: Bold undertaking over 25 to 30 years.
OUR RECOMMENDATION: Develop a new University-founded community Transform UMore Park into a vibrant, intellectually and culturally rich, sustainable new community for the 21 st century built to further the University s legacy. Maximize the value of the property to grow the University s endowment to advance the academic mission for generations to come.
OUR RECOMMENDATION: Develop a new University-founded community continued Leverage University s imprimatur as a top 3 University Establish design principles and sustainable development guidelines as a national model Create dynamic public-public and public-private partnerships
Outcomes Advance the University s academic mission Engage community partners in comprehensive planning and enhance regional development Improve the financial health of the University in support of research, education and engagement
Master Planning Guidelines Governance oversight by the University and its Board of Regents Grounded in the core academic mission. Establish guidelines for ongoing research, academic and community engagement Managed as an entire acreage together for a bold and integrated Master Plan
Action and Maintaining Momentum Generate concept master plan Consistent with University and Board of Regents Principles Complete plan to coincide with comprehensive plans of neighbors and critical development schedules Retain multiple developmental consultants by competitive bidding Bring plans back to Regents in 2007
Action and Maintaining Momentum Propose operating structures to manage the endeavor over 25 to 30 years Appoint UMore Park development team from Senior University Executives Bring back operating plan proposals to Board of Regents in 2007 Retain oversight and accountability by University leadership and Board of Regents
Action and Maintaining Momentum, continued Work to make site ready for development Army Corps of Engineers and Gopher Ordnance Works Complete proposed business plans for concrete Complete proposed business plans for gravel Continue to jointly oversee the University- DNR 2,840 acres as regional amenity and research opportunity
Our Recommendation We are bringing forward a recommendation to transform UMore Park into a sustainable University-founded community for the 21 st century. With the University s imprimatur, it will be distinctive like no other community
UMore Park: A University-founded Community Where 20-30,000 people live, work and play Enhanced quality of life influenced by the knowledge and experience of the University Environmentally sensitive and energy efficient. Sustainable development all the way. Intellectually and culturally rich partnered with the community and the citizens That grows the U s Endowment to supplement public and private support to achieve its goal of becoming a top three public research university
http://www.umorepark.umn.edu/
UMore Park: Preserving the University of Minnesota legacy
The End Thank you