 Actually, I thought Ellen was the only person that was not able to make it. We tried so hard to call her as all via email. She had a previous engagement. She's the only one that had said she wasn't available. Robert and Sabrina. Not made to. Good. And I had not heard from John, Dozier, but everybody was. I haven't seen him in a while. Oh, yes. I'm trying to make sure I picked the right meter number. You haven't. Customer service. You say Wardle number? No, I said Parking. I picked for the right zone. I was trying to remember. I took Tamika's phone. I don't have Robert's cell phone. Sabrina said she'd be here. She said she's on her way. Did you leave me to ask her how far out? How are you? How are you? I don't. Oh, yeah. One more week. One more debate. Yeah. Environmental debate tomorrow. Yeah. Unless he's been changing. Short time. He was my office landlord. If she was five minutes. We need to wait a couple more minutes for the fourth member to get here so we can have an official meeting. The office is very close. Yeah. Not quite welcome. I've been here about five. I had a sweat. I usually work at lunch. Oh, yeah. You didn't do your lunch. I didn't actually do it a little bit earlier today. So I spared you all. We just moved out of Olympia and into our social health. Our office. It's not much more pleasant than yesterday. You know, I can actually like... I'm always not really... You can see the government is in charge of our office. They're like, you can walk the ground. Because Olympia was just getting... Whether or not they had it. Well, I know that. But maybe... Foot-to-foot-trafficking. Great having the activity. The infrastructure is not here as the word is. Okay. The health assembly. Such a mess. The old office was at 7-1 Whaley. I do miss the space. It's really pretty. The venues are popular now. The four o'clock weddings. The four o'clock weddings. The three o'clock weddings. The three o'clock weddings. Your office is much cooler. Where isn't... It's on Richland. In between Wayne and Gad... And I live on Gadston, but on the Earlwood side. It's like six minutes door-to-door. I can even... It's on the bus route. To her mind. It became more than once an hour. Yeah. I didn't realize how long Gadston was until I was delivering a sign the other day. And it was something like 3400 Gadston. And I drove and drove and drove and drove. Yeah, I'm on the 3rd... 3100 block. 3100. So, yeah, I mean it. All the way in the Vista to Earlwood. Yeah, it's a long street. We have a lot of, like, parks and government mansions and things and breaking it up. Yeah. It sounded like her. Get her in here. We have one member coming, but let's go ahead in the interest of time to start the meeting. And we've got some very special guests with us today to brief us on a project that I think is a linchpin project for the development of Wall Street. And I'd like for Missy to introduce our speakers. Well, I actually haven't met them, but I hear y'all are making your rounds of the city. We're glad to have y'all in town. I've heard a lot about Clackin' Properties and we're excited to see what you have planned for Babcock. So with that, if you will introduce yourselves. Well, my name is Hugh Scheidel. I'm one of the founders of Clackin' Properties. My partner, my business partner, is at the building as we speak. So we're putting the finishing touches with the contractor. So I'm going to do just a couple of minutes about what we've been up to for the last several years. How we've been trying to make the Rubik's Cube of a cost-effective renovation of an iconic building work. Some challenges in that. We've been able to overcome those challenges. And I would say we've kept a low profile. And that's really kind of who we are constitutionally. We're not really flashy people. We just keep our heads down doing the work. But we feel like we're on the red zone now. That is, it's not done. It's not done until it's done. But we're close enough. The pieces are falling in place. So I'd love to give you a briefing on it. I'm going to do a couple slides on background. Then I'm going to turn it over to Katie. She gets to do the fun part of telling you what we're actually going to build, which we're really excited about. So who we are, challenges and opportunities, so who's clocking properties? We've been in business for 15 years now. We started in Richmond. And we are specialists in historic renovation. We do nothing else. I don't know why we got on this business. It sometimes is a hard business. But it is a gratifying business because you get to take buildings that have tremendous bones and turn them into something that's really special that can be used today. These are pictures of a mill we did in Charlotte that we just finished. And we've done four or five buildings in North Carolina. We got our start in Richmond. We did a dozen buildings there. This will be the first one in South Carolina for us. And this building, the Babcock, is different and unique in so many ways relative to this. This is one of a thousand mills. The Babcock is unique. There is no other Babcock. Just that fact brings challenges and opportunities. And I'm going to spend a few minutes talking about that. Where is that mill building? In Plaza Midwood. One of the interesting things about Charlotte is they've knocked down all their historic buildings. And so there are very few remaining. And so we were lucky to get this one. Just turned it into 149 apartments. So the Rubik's Cube of an adaptive reuse project starts with a building. And so if you think about the architectural details of this building, it was designed by a gentleman named Kirkbride with a particular view about how to care for the mentally ill. And one of the aspects of his approach was large open spaces both inside and outside the building. And that was a terrific way to care for patients, but it presents a challenge for a redevelopment. So if I did 14 or 15 similar buildings around the country, this will be the first one to get historic tax credits. And the challenge is the Secretary of the Interior Standards for renovation don't allow you to fill in these wards, these large rooms within the building. And so the corridor loss in this building is far higher than a typical project. The corridor loss is space that you have to pay to renovate that you don't get revenue for. So hospitals in general where you have the wide hallways that you can't fill in have a larger corridor loss. This building has a 40% corridor loss. A typical mill that we would do would have 25% corridor loss. So you've got 60% more corridor loss in this building from the start. So even getting the building for free, just because you can't get the density out of this building that you could out of a kind of a rectangular mill. And so overcoming that challenge that kind of structural challenge from the get-go has been a big part of what we've been working on. Another challenge that we've had to overcome is the deterioration of the building. It's been abandoned for some time and weather is taking its toll on the building. And just as a need to Columbia residents every time someone goes in that building at night to have fun it makes it harder for us to renovate. It makes it more expensive for us to renovate. So we have had to deal with the deterioration of the building which makes the renovation more expensive and puts you out of balance in this Rubik's Cube. And it's an historically sensitive building so as I said it's not a mill so the State Historic Preservation Officer the National Park Service are all very keen to know exactly what we're doing. And one one aspect of that is the windows. Now windows are important anytime you do a historic renovation this building in particular it's got 1300 windows. So we had to do a comprehensive survey of the windows where someone has to go out and look at every single window assess the various pieces the sashes and the mullions and the glass and the whatnot to figure out is this a window that we can save or is this a window that we need to replace and all the historic authorities and us as well we want to save as many of the windows as we can and we assessed at the time that we did that survey that we could save about 65% of the windows. And so the building has deteriorated since then but that's our goal is to save the lion's share of the windows. So other kind of project challenges and opportunities so obviously we needed to find the right contractor this is not this is not the kind of work that a regular contractor can do you can go put up a strip mall this is not a strip mall this is specialty work and the abandoned building credit you know we've been involved in this project for a number of years and the credit A has sunsetted several times while we've been involved and whenever the abandoned building credits we went out of the credit sunsets that puts downward pressure on the stack of capital that we can put to work so we've had to make sure that we've had to work to get that extended and we were part of the process for making this 12 buildings not one and so kind of navigating the abandoned building credit has been kind of a time consuming thing that we've been a part of you want to explain the 12 buildings sure well the abandoned building credit program says that you get a credit for up to 500,000 per building and the states there was always some dispute about what a building is and so the state said well we don't want to be involved in that we're going to devolve to the city council level the decision of what a building is and our architect Walter put together the presentation for Columbia city council to make the case that this is 12 buildings not one building and it was developed over a series of campaigns the buildings stand on their own they've got means of egress if you knock the other 11 down that one building could operate so we had a strong case that it was really indeed 12 buildings and so we get instead of a $500,000 credit a $6 million credit that was a big piece in solving the puzzle so that's one of the things that the state and city of Columbia exactly all the things that we're doing trying to get the lower construction costs helping with the tax credits helps with the corridor loss and the duration of the building a big part of the capital while we've been working on this the federal historic program that was not helpful so it's been as you can see, pluses and minuses where are we now we have gone through and renegotiated with the park service a design that got us a little more square footage while maintaining being historically sensitive we figured with Walter and the state historic preservation officer in the National Park Service to get I think with 6% more square footage that helped we've assembled a project team that's really expert in this from architect to historian to contractor to engineers and we've submitted for a HUD loan now a HUD loan takes a long time the amount of due diligence is mind-numbing but your tax dollars are put to good use because there are almost no HUD loans that go bad so they really put you through the ringer it takes a long time but once they say they invite you to bid you're pretty much a lock and we got the invite to bid last spring and so we've been in the process of proving to them all the things we told them we can do and we will be submitting our final application for the HUD loan in early December the plans and specs are here for you to look through if you'd like it looks like about four inches of plants they're about 95% complete we're still doing the final tweaks and we met with the city this morning meeting with the building officials making sure that we're going to phase the delivery so we're going to bring some units on while the building is under construction we want to make sure that we're in sync with the city about how to do that make sure that we're thinking about fire suppression and all the other things you think about when you're building a building like this that we're in sync with the city and that meeting went well so we're encouraged we'll be submitting for a building permit soon before the end of the year and we're very close to having our term sheets nailed down for both the state and federal tax credits that's another critical piece so if you get the tax credits right you get your HUD loan you get your building specs you get your building permit it won't be too long now I'm going to turn it over to Katie but before I do that I want to say something about dates so we've tried to keep quiet about when we're going to get this done because for the longest time we didn't know when we were going to get it done now we have a clearer and clearer picture but we've purposely fuzzied the dates so I think we have benefited I think the project Bull Street has benefited let's continue to work we're in the red zone we're going to get this done don't get too attached to any given date things can happen outside of our control but we're going to get it done so with that I'm going to turn it over to Katie I get the fun part podium hey guys I'm Katie nice to meet you you need oh I don't talk loud enough you might regret this in a minute oh okay I got you we're playing back for the grand opening okay so this is an overview with the project you can see the size of it I've got some amenity call outs in the picture we're posing to build a pet park a pool and a grilling lounge the way the building is laid out you've kind of got these little pockets that are appropriately best used as amenity spaces and then we'll also have they're not pictured here but we'll have some walking paths through those trees and I think most of these are staying we're saving 38 of the giant stork trees on the site so we're excited about that am I talking into this enough oh that's way better sorry you might not have caught all that so 146 we have living space is what we're going to be building in 208 apartments it's mainly one bedrooms one bedrooms and two bedrooms the studios are about 420 square feet on average the ones are 600 the twos are 800 and the threes are I think we have a couple big threes that are like 1250 so one of the ways to help with the cost issue is to get units really efficient and Walter is I'm going to brag about you for a second Walter is very very good at what he does he's most of what you do is historic architecture so he's designed an awesome project for us so we're really excited lots of green space lots of parking spaces I think we're parked either definitely above or at what the requirement is indoor amenities and outdoor amenities but there's some cool renderings about those later this is an example of a unit so this is a one bedroom unit you walk in let's see you walk in you've got to wash all units have full size washer and dryer this one is a I wish I could have gotten a picture of what this will look like from the inside because and correct me if I'm in the wrong part of the building but it's got these giant tall windows with the arches am I in the right place and so when you walk in you're just going to you're going to be flooded with this light and this building is awesome because of that the units are going to be out of this world the kitchen is going to have one of these windows the bathroom is going to have one of these windows I mean this we're really excited about this project if you can't tell this is a two bedroom unit this is a very nice two bedroom unit and this is in what are these aren't the day rooms Walter right don't tell me I have it in the wrong place on the map okay okay so these you walk in and it's a you can't well I guess we could break these out into we couldn't break these out into separate units right so this had to be one complete unit so that was the constraint from a historic standpoint and so what you get is a really awesome unit with a it's a two bedroom it's got an office and then it's got these four corners of light and this is going to be another spectacular unit again I wish I was able to get pictures of what this looks like today so you can kind of envision it but it'll it'll be it'll be great that might have to be my unit so we have two finished packages I wanted to give you guys an idea of kind of what these are going to feel like they're going to have granite and stainless and we're trying some new stuff as a company so matte black is is trendy so we're going to do some matte black fixtures and really bring in some modern stuff so that the historic aspects of the building really shine let's see Sarah did a good job on this on picking out everything she's with with the architect we've got two schemes two finished package schemes oh amenities so the amenities sections are kind of in stack so we've stacked them on three floors on either side that you can see kind of in the building layout there the floor one on the left side has a unit underneath it so we had to do something kind of quiet and then we're going to have the idea was to stack and mix lounges and fitness so that people are encouraged to walk to one another so if I want to walk to the yoga studio I'm encouraged to go to different sections of the building and I have a better chance of meeting my community members and residents and seeing everything so that was the thought behind that you can see some renderings of the fitness center down below so this is a little more information on the amenities but I think you guys probably want to see the pictures so that's the pool where's that located so that is right there's kind of two U shapes I call them the pool is in the U shape on the left okay who's that no I touched it there we go you really can't see it that much from the exterior it's kind of tucked away in a courtyard you can't see it from the front of the building so if I'm standing we're not used to seeing this part of the building the front of the building is down that's awesome I just realized that so if I'm standing this is the front of the building this is where you see the giant the cupola is about right here so your pool is right here and so it'll be really nice and private for the residents it won't take away and this is why the pool has to be kind of tucked away this building didn't historically have a pool and so we can't put a big swimming pool out front it's not historically appropriate but I think it to me it works right there I don't know maybe I don't like being out in a bikini in front of buildings so that's the pool I think this doesn't show some water fountains and this is pre-VE so I'm fighting hard to keep all of these design elements they're in the price that we have from the contractor now and we're full steam ahead on the scope so these are hopefully here to stay these design elements a lot of times you start with a very exciting design and then sometimes things get veed but they work within the budget so hopefully they get value engineered value engineered I'm sorry alphabet soup I try to avoid alphabet soup I should also try to avoid leaving the microphone so this is the grilling garden and I'll go back to where where this is wow this little light here is great this is the grilling garden this is kind of another one of these pockets here between these buildings this is all contiguous and then this one we'll accept for I think building four back here this building is not connected to these this is kind of one of these little thoroughfares covered awnings and so you've got a lot of green space put since we have a pool over here what can we put over there and so this is what we've is that separate building going to be apartments also yes, yeah and those are where the lofts are mostly and those on the the dining halls those will be great, these will all be really great units this is the grilling, oops one of the grilling garden so we've got a fire pit right here some grills, some seats you can see where the building is around it so this is the the timeline I'll let you guys look at it for a second but we're planning to start the cupola is in three yes, yeah yes yeah so this is the cupola but building one and two are individual building four is technically individual am I right and then everything else is contiguous so the plan is to close and start construction in the first half of 2020 so that's really soon to me, that's very soon he said we've been working on this not soon enough we have done a lot and we have a lot a lot less but still some still to do but we we have not changed the first half of 2020 date we plan to start and close in the first half of 2020 will be under construction until phase one is delivered so we're going to deliver this in phases phase one is this section right here and this is 66 units and 44,000 feet and that includes building two which is this again the standalone dining hall so that we're planning to deliver in the second half of 2021 are you going to get through all the phases and then people move in or will you kind of as you complete phases open those up for residents that's a really good question gotcha yeah our plan is to in part of the reason you can't see this here but there's a parking lot we're building right here is going to be parking so we'll kind of start on this corner and kind of work our way work our way over so it's not going to be awkward for residents living in phase one that people are still the goal for us is that they won't notice that they're living on it that's the hope and some you know we'll let them know that the other side of the building is under construction like the units that are right right when is the cupola scheduled that is phase three I believe that the first half of 2022 issues connecting phase one and two logistically I'm just talking about logistic if you've got phase two open and phase one open yeah do you want the pointer sure if you look at phase one how's that if you look at phase one you can see that and imagine if you will the parking lot beyond as she described so everyone there the wall that is buildings three and four in phase three separates the construction and then if you go to phase two there's going to be a parking lot just to the left of that so those people again can avoid the construction the idea is the construction traffic can come and go you've got a lot of trucks you've got a lot of people and then you don't want residents having to deal with that noise complaints etc so they'll be completely separate and then construction doesn't like the tenants any more than the tenants like the construction when you say wall it's a 20 inch thick I mean it's like not like a wall it's like a wall a real wall yeah this entire building is built out of 20 to 24 inch thick masonry walls from the ground to the roof and each of the small rooms if you notice in the floor plan there were big black walls shown those are the original walls and they're masonry and you'll never hear your neighbor tall how tall? 14 feet? 13 feet? I was in there this morning before meeting with the city and when you walk into this main part of the building here come on clicker it's got a drop ceiling a ceiling that's built below kind of like this ceiling there's mechanical tucked up over it and the ceiling tiles are missing in a couple of places and so in a couple of ways you're walking through you can kind of see how tall the ceiling is and what I like to do is squint and try to picture it when it's done and it's it'll really be a fantastic building we're really proud to be a part of it so phase one and two will the walk-in trail and all that be done in that phase? that is the dog park all that the dog park will likely come with the adjacent phases just because of where it's located it's by phase two it's by it's kind of right here and your pool's kind of right here and then this is where your grilling garden is and so the way I think about it is the pool will come online probably with these two phases here and we're actually there's an idea right now to swap these two for that exact reason because of the face you're making no pool yeah we're with you so we're going to try to think through how we might swap these and think through what that might look like but what I think about might happen is we'll start here the grilling garden and everything will get delivered all of this curb and gutter will go in these building entrances will be active site egress in and out of the building in and out of the site will be active and then this is where your construction boundary will be and so everything over will be construction only and then as I think Walter said or Hugh said you can really keep everybody happy or as happy as they can be and then my second question is lighting about how many lots I mean HUD is as Hugh said very particular and they're involved in everything from your design to historic they underwrite you really well and so they require and we want to build a safe site of course so we have at least one foot candle I think it's one foot candle across the entire site which is foot candle is how you measure it's not this bright um how would you describe a one foot candle one foot candle is sort of a standard for a safe parking lot and what across the site it's not across the entire site like in terms of amount of light how lit it is we don't want people like walking to their car and it being like dark and is that the question that you're asking I hope okay yeah we don't yeah we've done a photo it's called photometric study where you you figure out how much light you need and where to make it a safe site yeah brighter in the parking lots like with our shopping centers we build to a minimum we're actually doing a mixed use project so one foot candle averaged across probably you're going to have brighter spots in the project that's real important in the walking trail yeah when you want to strike the balance between feeling safe but like also not stadium lights there's a balance to be struck there yeah you're exactly right any other questions are you having to do a lot of infrastructure improvements like I mean I can't imagine like the water lines are in great shape there Chandler does the infrastructure include one gigabit service from Sega that will be a selling point I guarantee you that will be huge that system has a monitor on it what you call the thing that filters out the bad people y'all know what y'all talking about it has a server of some sort that keeps that way yeah I'm not technical or that technical let's see I think we're maybe $1.75 $1.65 in today's $1.65 that's the whole yep I think this is one of the last slides but I like your questions they're good so this is obviously not a small project it's not a simple project it's one of the biggest projects that I've ever worked on the most complicated you know moving all kinds of moving pieces but I could not I don't want to speak on behalf of you but we've got the best team assembled and stakeholders and support and without I'm sure I'm missing people on this list but without the support of everybody this wouldn't happen so it really does take a village so thank you well thank you for great report this is something we've been anticipating for a couple of years now your reputation preceded you and we're delighted to meet you in person and see the great work I would just blown away with the drawings that you had there things that are to come really exciting and I think it's going to be a project that kicks off the completion of Bull Street it's going to be the linchpin that keys the rest of the development and I can't wait to get it done soon I hope we are in line there one big one oh do I have another slide? oh how can you keep helping so one challenge we have with the building still being vacant is it's dangerous and so we want to make sure that the I know I was in a sorority so I know that you do things and people get dared to go into buildings and it's really not a safe place so if you hear about anybody going into the building encourage them not to we were in full hard hat closed toed steel toed shoes it's not we don't want any injuries between now and when we're eagerly starting construction this was in charge of security there is that huge are y'all doing that? I know Robert used to have cameras out there you still have cameras out there it's been a joint effort between the city property we have a great it's still owned by the department of millhouse it is a challenge anything we can do to help provide that security and back up to the security that you already have we'd be glad to do that I will say that the police on site now have stopped me and I'm wearing a hard hat and they've even said ma'am I'm okay I think yeah so that's it unless Hugh or Walter you guys have anything hi yeah I have all of them yeah oh no I was really curious about each phase and the garbage is it going to be one big can the area where they're going to throw the garbage is each building going to just going to be one for all I'm glad you asked about that so one thing that we've done every market we have apartment communities in different markets one market that we're in recently is the example project from the beginning and that's in Mecklenburg County and Charlotte and they handle trash valet trash which I had never heard of valet trash when I moved there but it's great you basically put your trash out in front of your door and they collect it for you it's awesome but you have to remember to put it out on time which I forget sometimes then it goes they take it to the dumpster and we have one dumpster corral valet trash that's a good question trash is the one dumpster corral valet trash that's a good question that's a good question so are you just going to have a dumpster corral or are you also going to offer recycling within the cellar? we usually do a big dumpster corral and within that we have the way we've done it in the past is we have the receptacles and then we'll have recycling toters in there and now I don't live in one of our projects at my building that I live in in Charlotte and it's all about recycling and trash collection it just depends on the servicer you get and so we'll start interviewing servicers and pick the best service for the project so you put the garbage in and recycle in the hallway and on a certain day they come and pick up it's all has to be kind of but that is an option that's what my community does it's a little more but I use the service where are you in the process of selecting the contractor? the contractor we met with the contractor and our engineers and designers with the city today we have a price HUD has our cost certification group has the price we're full seam ahead thank you all for that great report and we're excited about getting this project under construction getting the cupola painted before Tuesday yeah thank you thank you all for coming down thanks for having us channel you want to give us an update on the rest of the project you might have used this before but the laser pointer game changer I actually didn't prepare slides just knowing really I think the star of the show is the Babcock project I would like to commend Clackin Properties and Walter Parks Architects for being here they truly have kept their head down and kept working this is an incredible undertaking and the amount of effort and energy and time they have put into this project is really unbelievable so I'm glad to share that what we've been seeing and the progress they've been making over the past couple of years the one thing that we kept hearing about was time and time when is this going to get under construction we've worked on it for a long time but something that we love about Clackin is that they are not sacrificing quality for time and you can see in their drawings and in their renderings and in their finished packages what a quality group that they are and it's something that aligns very closely with the vision for bolstery because we want it done right and we only have one shot to renovate this building there's only one Babcock as I said it's a thousand textile mills and those are great projects but there's only one opportunity to get this done and have it done well and done correctly so I just wanted to point that out what a wonderful job that they've done so far as just an update on other things going on on campus at Bull Street you guys have probably seen a lot of additional construction at REI so that infrastructure, the extension of Boy Street and extension of Freed Street to Bull will be finished early January of next year we'll also turn over the REI Shell building to them beginning of next year for their tenant outfits and they will open in the spring of 2020 which is something we're really really excited about so be on the lookout for that in the park we've got irrigation underway now so there's continued movement there continued progress, we've done some renovation of existing picnic structures which are a cool amenity that will have their Merrill Gardens continues with their interior outfits so they're now upfitting all their units they'll open beginning of next year to residents and that's our first for rent project you know when they will start renting I had that question asked Saturday they already have a marketing trailer on site so you can go and get additional information from them about what exactly their time frame is I know it'll be early next year but exactly when they're going to start moving people and I believe it's still a little bit to be determined in the next launch of next year there's also some clearing and grading going on in preparation for the med school if anybody's seen that back along Hardin Street so that's been additional ongoing there and then the profit dixon project that we talked about last time amongst many other things but that will go to the county for a vote on that for the November 5th council meeting so something else we've continued to see progress on and hopefully we can get them into give you all an update on what they're working on lots of things happening lots of positive momentum where's the profit dixon it is right across from the first base building and Segra park so across the residential with retail that'll also have a parking component to which will be some for residential and in conjunction with office there'll be additional people that park there that are office workers and then the ground level will be dedicated to retail very good any other questions I can answer questions, thank you channel appreciate that miss you have anything else for the commission I don't, what about the next meeting date our next meeting is scheduled for December the 16th and we have traditionally not had the December meeting is it okay with y'all if we skip over December we will take that as a yes okay so y'all put it on the agenda okay you put it on the agenda but you're moving to eliminate it I think we put it on there when we were doing the whole year so when will be the next meeting that February February February 17th February 17th any questions from the commission thank y'all for coming and thank channel and others for arranging to have this good briefing from I think that's a very exciting project can't wait to, it's even better than I thought it was going to be can't wait to get it under construction we will be adjourned I apologize for being late I had a hard time