The purpose of this section is to provide guidance and insights about private development opportunities and public investments on key sites throughout east Sunrise. The most significant redevelopment opportunities were identified based on community and city staff input, location, ownership, size, land development regulations, vacancies, and recent public and private investments nearby. This section explores development scenarios appropriate on these sites based on the following: • real estate and business market conditions, • community goals and aspirations, • current and potential land development regulations,
• general financial feasibility, • transportation connectivity, • surrounding developments and public amenities, and • overall ownership patterns in proximity.
Using RMA’s expertise in Economic Development, Urban Design, and Identity and Branding, for each site we undertook the following effort: • explored a variety of potential development scenarios, • developed conceptual site plans for one or more of those scenarios, • identified any needed amendments to land development regulations to permit each scenario, • conducted a preliminary financial analysis to test for general feasibility, • assessed impact on overall neighborhood place brand repositioning, overall economic impact and jobs growth, • considered ways to minimize gentrification, and • considered the likely marketplace phasing as the brand repositioning took place over time. A total of 10 sites were evaluated using this approach with varying degrees of detail. The following sections summarize our work and guidance for each site with the following caveats: • The analyses are for a particular point in time. Changing market conditions, ownership patterns, community consensus, and successful or failed projects and businesses can change the preferred development guidance over time. • The guidance provided is not intended to support any particular development proposal or scenario. Each such proposal should be carefully evaluated against the factors above and fully vetted with community leadership and nearby property owners and residents. • Private development is driven by perceptions of risk and return that go beyond the financial. Perceived risks related to community consensus, predictability and timeliness of development approval processes, marketplace responsiveness, and other factors often vary by developer and investor based on their own experience and investment objectives. This simply means that “feasibility” also varies and a negative response from a few developers does not mean all others will have the same perspective or reach the same conclusion. This is often the case when suburban developers approach a more urban redevelopment project.
The concepts contained here were also reviewed with city staff and others to help ensure consistency of community desires and visions, current perspectives of the development community, residents and other community members, and elected officials. The map shown here identifies the 10 sites.
10 | EAST SUNRISE IMPROVEMENTS MASTER PLAN
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