Central Station Redevelopment Phase 2 OVERVIEW 03/27/15 All information is preliminary and subject to change. 03/27/15 ntIal Sta tio 11 All information is preliminary and subject to change. 03/27/15 Central Station – South Main Anchor 1914 1999 2015 Illinois Central Railroad opened Central Station and office tower MATA led a bold public/ private partnership to preserve and redevelop the tower into apartments, anchoring the renaissance of the South Main Historic District. A new initiative builds upon Central Station’s assets to transform Central Station into a kinetic, connected, and central place. All information is preliminary and subject to change. 03/27/15 Central Station Site C0 nte xt All information is preliminary and subject to change. (Central Station Transit Supportive Development ~10 minute walk Hotel Chisca Apartments New Blossom Apartments Blues Hall of Fame National Civil Rights Museum Memphis College of Art South Bluffs new urban neighborhood & South End revitalization Central Station South City (Choice Neighborhood revitalization) South Main Artspace Lofts South Junction Apartments Crescent Bluffs Apartments All information is preliminary and subject to change. 03/27/15 0 PFC) ntIal Sta tio 11 All information is preliminary and subject to change. 03/27/15 Central Station Redevelopment – Development Components CONNECTOR CONCOURSE All information is preliminary and subject to change. 03/27/15 • • • • • • • Tower & Site animated 24/7/365 with Hotel and Cinema Co-located multi-modal transit facilities in South Main Transit Connector Concourse through platform, South Main to Market Plaza Market Plaza enhancements improve flexibility, functionality, shared parking New residential development on platform Shared parking on platform and in Market Plaza Enhanced pedestrian realm Central Station Redevelopment VIEW from Southeast All information is preliminary and subject to change. 03/27/15 • New commercial & residential development around Market Plaza • Improved connections between Market Plaza & South Main • Enhanced pedestrian realm below rail platform Central Station Redevelopment VIEW from North All information is preliminary and subject to change. 03/27/15 • Cinema animates evenings • Cinema shares parking and Market Plaza • Cinema development incorporates underutilized Power House in viable way Central Station Redevelopment Powerhouse concepts All information is preliminary and subject to change. 03/27/15 • • • • • • Market Plaza enhancements improve flexibility, functionality, shared parking New commercial & residential around Market Plaza Transit Connector Concourse through platform, Market Plaza to South Main New residential on platform Improved urban design relationships with surrounding neighborhood Enhanced pedestrian realm Central Station Redevelopment VIEW from Northwest All information is preliminary and subject to change. 03/27/15 IMPLEMENTATION ntIal Sta tio 11 All information is preliminary and subject to change. 03/27/15 Central Station Redevelopment – Development & Supportive Components Hotel, Amtrak, Meetings/ Events Cinema / Power House Supportive Components Trolley Stop / Plaza / Sub-Platform Market Plaza/ Shared Parking Transit Connector Concourse CONNECTOR CONCOURSE Amtrak Station South Main Transit Center Shared Parking Platform Main to Main Connector Pedestrian Realm Amtrak/ Hotel Arrival Apartments west (152) Apartments S Main (36) Apartments REA (12) (remodel) Apartments S Main (12) Apartments South Junction (281) All information is preliminary and subject to change. 03/27/15 Central Station Redevelopment – Components All information is preliminary and subject to change. 03/27/15 Central Station Redevelopment – Timelines 2014 2015 2016 2017 Master Plans & Transit Plans Stakeholder outreach & buy-in  Development Agreement Sub-Leases & Financial Models Supportive Project Studies Supportive Project Design & Funding CINEMA Development & Design Supportive Project Implementation CINEMA Construction HOTEL Development & Design APARTMENT (west & REA) Development & Design HOTEL Construction APARTMENT (west) Construction OTHER COMPONENTS Development & Design All information is preliminary and subject to change. OTHER COMPONENTS Construction 03/27/15 1. 69 Year Master Lease: MATA to Master Developer 2. Multi-Year Sub Leases: Master Developer to Sub-Tenants – Cinema, Hotel, Apartments, others 3. Master Developer operates, manages and maintains the property 4. MATA will share in all revenue generated by the project 5. Additional development and revenue sharing opportunities anticipated 6. MATA will not be responsible for any operating deficits All information is preliminary and subject to change. 03/27/15 MATA 1. Creates a connected, multi-modal transit center among dense transit supportive development 2. Provides MATA with on-going revenue stream 3. Relieves MATA’s current debt obligation to Bank of Bartlett 4. Eliminates MATA’s responsibility for future capital expenditures at Central Station 5. Enables MATA to focus on public transportation (MATA will be out of the commercial real estate business) Memphis/Shelby County 1. Maximizes potential and utilization of key Memphis historic landmark 2. Creates new, vibrant mixed-use development to anchor the greater South Main area 3. Generates tax revenue Sales tax Hotel/motel tax 4. Creates new jobs Construction Permanent All information is preliminary and subject to change. 03/27/15 Central Station Redevelopment Phase 2 Transform Central Station into a kinetic, connected, central place, with an engaging Memphis pulse All information is preliminary and subject to change. 03/27/15