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Home My WebLink AboutTriton Pre-App Meeting - DRAFT-V16 -2023.02.17NEPTUNE MIXED-USE DISTRICT CITY OF RENTON PRE-APPLICATION SUBMISSION Table of Contents: •Project Narrative: •Vicinity Map: •Site Plan: •Preliminary Tree Retention Plan: •Floor Plans: •Conceptual Building Elevations: •Sewer and Water Availability Information: •Additional Topics Project Narrative Sponsor Affiliate Sponsor Who is Guerdon? •A subsidiary of Innovatus Capital Partners •20+ year-old industry leader in modular technology •State-of-the-art modular builder •ESG innovator •Reducing construction carbon footprints •Innovators of: •Multi-family Modular Buildings •Modular Hotels & Hospitality facilities •Assisted Living & Senior Housing Centers •Student Housing Modular Buildings •Modular Workforce Housing or Man Camps & Our commitment to ESG Life Sciences Lending: Impact-focused, partner with life sciences companies that are leaders in their field and focused on innovations that (i) address unmet medical needs, (ii) improve patient outcomes, and (iii) reduce overall healthcare costs. Commercial Real Estate in micro markets: Environmental and sustainability-focused, providing tenants with efficient, healthy, and green-certified buildings through operational performance technology, including energy. Lower Middle Market Value: Incorporates ESG factors into fundamental, bottom-up investment processes to drive value. We seek to optimize ESG-favorable variables within production facilities and product offerings through sustainable sourcing, energy efficiency, health and safety, diversity and inclusion; providing low-income housing, fair wages, and domestic manufacturing; and alignment through equity incentives & profit participation. Flagship Fund: In addition to the above strategies, the Fund shall not directly invest in companies whose activity is related to: •Sale or production of ammunition and military weapons; •Projects which result in limiting people’s individual rights and freedom or violation of human rights; •Development and/or implementation of projects unacceptable in environmental and social terms; •Ethically or morally controversial projects. City of Renton Benefits The proposed Neptune Mixed-Use District will benefit the City of Renton and its residents as follows: •Increased Multifamily/Affordable Housing Density •Increased Real Estate Tax Revenues •Increased Excise Tax Revenues •Transit-Oriented District (TOD) Compliance •Work/Live/Play Community •Activate the Renton Village Corridor •And much more…. The Property The property includes the following four parcels on the southwest corner of South Grady Way and Talbot Road, north and west of I-405: 555 S Renton Village Place (parcel number 7231600542) is a 239,973 square foot (5.51 acre) site abutting I-405, currently developed with the Triton Tower One office building and surface parking. The building is 7 stories and 136,712 square feet, constructed in 1980. 700 South Renton Village Place (parcel number 1923059001) is 272,021 square feet (6.24 acres) located in the northwest corner of Talbot Road South and I-405. The parcel is developed with the Triton Tower Two office building and surface parking. The building is seven stories and 137,665 square feet, constructed in 1986. 700 South Renton Village Place (parcel number 1923059023) is 325,750 square feet (7.48 acres) located in the southwest corner of South Grady Way and Talbot Road South. The parcel is developed with the Triton Tower Three office building and surface parking. The building is seven stories and 132,730 square feet, constructed in 1986. 905 Talbot Road South (parcel 7231600595) is 23,381 square feet (.54 acres) located north of the Triton Tower One site, currently developed with surface parking. The above four parcels are referred to herein as the “Property.” The Property Project Name: Neptune Mixed-Use District Size: 19.77 acres Location: 700 South Renton Village Place (4 parcels) Zoning: The Property is in the Commercial Office (“CO”) zone and designated Commercial Mixed Use on the Comprehensive Plan. In addition to the CO zoning designation, the Property is also located in Urban Design District Overlay D. Current Use: Commercial Office (“CO”) Special Features: No adverse features on the site. Soil & Drainage: The site is currently developed with code- compliant drainage. OFF RAMPBOUNDARYBOUNDARY BOUNDARY BOUNDARY BOUNDARYexisting easement on carpark BOUNDARYBOUND A R Y BOUNDARY BOUNDARYexisting easement on carpark TRITON TOWER 1 BOUNDARYS GRADY W A Y S GRA D Y W A Y SHATTUCK AVEKing County Parcel SOUTH RENTON VILLAGE PLACE TALBOT ROAD STTRITON TOWER 2 WELLS FARGO existing electrical substation 1985 to present TESLA HIGHWAY 4 0 5 EXISTING RETAIL TIRE SHOP APPLE BEES MCDONALDS EXISTING RETAIL EXISTING RETAIL LOT A LOT 6 LOT B TRITON TOWER 3 LOT 4 B OU N D A R Y LOT 3 LOT 5 LOT 1 LOT 2 LOT C ENTRY ENTRY ENTRYnew road landscaped park PODIUM 2 PODIUM 1 CARPARK G SITE PLAN: TRITON VILLAGE WALK SCALE: 1" = 150' 100' N 300'200'0' 25' N DATE: 02/03/23 KEY: POWER LINE EASEMENTS POWER LINES BOUNDARY LINES WATER PIPE EASEMENTS NEW RESIDENTIAL/MIXED USE GROUND FLOOR EXISTING BUILDINGS PARK/LANDSCAPING NEW CARPARKING STRUCTURE 20' SETBACK VII. PARKING ANALYSIS LOT 1 LOT 2 LOT 3 LOT 4 LOT 5 LOT 6 LOT A LOT B LOT C OTHER: TOTAL LOT NO. SURFACE PARKING PODIUM 2FLR PODIUM 2FLR + SURFACE CARPARKING BUILDING @ 6FLR HOTEL / RESIDENTIAL LANDSCAPE PARK SURFACE PARKING SURFACE PARKING SURFACE PARKING EASEMENT OUTSIDE BOUNDARY PARKING TYPE 64 190 300 755 78 0 443 83 156 44 2113 SPACES DATE : 02/08/2023 NEPTUNE DISTRICT REQUIREMENTS BY CODE: OFFICE : HOTEL (TBD): RETAIL: RESIDENTIAL: TOTAL: TOTAL: 1752 105 95 400 2247 4 PER 1000 SQ FT. 1 PER GUEST ROOM PLUS 1 FOR EVERY 3 EMPLOYEES. 2.5 PER 1000 SQ FT. 1 PER UNIT REQUESTED VARIANCES: OFFICE : HOTEL (TBD) : RETAIL: RESIDENTIAL: TOTAL: TOTAL: 1577 105 48 400 2025 3.6 PER 1000 SQ FT. 1 PER GUEST ROOM PLUS 1 FOR EVERY 3 EMPLOYEES. 1.25 PER 1000 SQ FT. 1 PER UNIT PARKING PROVIDED: The Project Proposed Use: Maintain the existing office towers and add multifamily residential and a hotel to the campus with future amenity retail Lot Coverage: 60% Development: Four (4) five-story apartment buildings, including approximately 400 new units and 1 above-grade parking structure with approximately 755 spaces (the “Project”). ***Unit the proposed mix ratio is pending a formal market study. Proposed Subdivision Existing Site:Proposed Site: On & Off-Site Improvements The project will provide a consolidated east/west drive through the middle of the site, providing potential future connectivity to the property to the west. Minimal fill and excavation are required. Landscape and hardscape aim to produce a work, live, and play environment with onsite greenery and common areas. We are conducting a study to determine if any off-site improvements are necessary for sewer, water, traffic signals, sidewalks, etc. Remove Remove New OFF RAMPBOUNDARYBOUNDARYLAKE AVE STBOUNDARY BOUNDARY BOUNDARYexisting easement on carpark BOUNDARYBOUND A R Y BOUNDARY BOUNDARYexisting easement on carpark TRITON TOWER 1 BOUNDARYS GRADY W A Y S GRAD Y W A Y SHATTUCK AVEHOME DEPOT King County ParcelEXISTING OFFICE BUILDING SOUTH RENTON VILLAGE PLACE TALBOT ROAD STMOVIE THEATRE DEMOLISHED GAS STATION TRITON TOWER 2 WELLS FARGO existing electrical substation 1985 to present GAS STATION TESLA HIGHWAY 4 0 5 EXISTING RETAIL TIRE SHOP APPLE BEES MCDONALDS EXISTING RETAIL EXISTING RETAIL TRITON TOWER 3 B OU N D A R Y VICINITY MAPVICINITY MAP 200' N 400'100'0'25' SCALE: 1" = 200'SCALE: 1" = 200' 200' N 100'400'0'25' DATE: 02/03/23 KEY: POTENTIAL FLOOD CONDITIONS EXISTING BUILDINGS FLOODING MAP VICINITY AREA DATE : 02/08/2023 NEPTUNE DISTRICT Project Schedule ELECTRICAL SUBSTATION TW 2 TW 3 LOT A LOT B LOT 6 LOT CLOT 4 LOT 5 85 DU LOT 1 75 DU LOT 2 95 DU LOT 3 145 DU PARKING ELECTRICAL SUBSTATION TW 2 TW 3 LOT A LOT B LOT 6 LOT CLOT 4 LOT 5 LOT 1 75 DU LOT 2 LOT 3 ELECTRICAL SUBSTATION TW 2 TW 3 LOT A LOT B LOT 6 LOT CLOT 4 LOT 5 85 DU LOT 1 75 DU LOT 2 LOT 3 MODUFY PHASES PHASE 1 A LOT 1 : 75 DU PHASE 2 LOT 1 : 75 DU LOT 2 : 95 DU LOT 3 : 145 DU LOT 4 : PARKING LOT 5 : 85 DU PHASE 1 B LOT 1 : 75 DU LOT 5 : 85 DU MODUFY PHASE 1 A ELECTRICAL SUBSTATION TW 2 TW 3 LOT A LOT B LOT 6 LOT CLOT 4 LOT 5 LOT 1 75 DU LOT 2 LOT 3 MODUFY PHASE 1 B ELECTRICAL SUBSTATION TW 2 TW 3 LOT A LOT B LOT 6 LOT CLOT 4 LOT 5 LOT 1 75 DU LOT 2 LOT 3 85 DU MODUFY PHASE 2 ELECTRICAL SUBSTATION TW 2 TW 3 LOT A LOT B LOT 6 LOT CLOT 4 LOT 1 75 DU LOT 2 95 DU LOT 3 145 DU PARKING LOT 5 85 DU Vicinity Map OFF RAMPBOUNDARYBOUNDARYLAKE AVE STBOUNDARY BOUNDARY BOUNDARYexisting easement on carpark BOUNDARYBOUND A R Y BOUNDARY BOUNDARYexisting easement on carpark TRITON TOWER 1 BOUNDARYS GRADY W A Y S GRAD Y W A Y SHATTUCK AVEHOME DEPOT King County ParcelEXISTING OFFICE BUILDING SOUTH RENTON VILLAGE PLACE TALBOT ROAD STMOVIE THEATRE DEMOLISHED GAS STATION TRITON TOWER 2 WELLS FARGO existing electrical substation 1985 to present GAS STATION TESLA HIGHWAY 4 0 5 EXISTING RETAIL TIRE SHOP APPLE BEES MCDONALDS EXISTING RETAIL EXISTING RETAIL TRITON TOWER 3 B OU N D A R Y VICINITY MAPVICINITY MAP 200' N 400'100'0'25' SCALE: 1" = 200'SCALE: 1" = 200' 200' N 100'400'0'25' DATE: 02/03/23 KEY: EXISTING BUILDINGS VICINITY AREA DATE : 02/08/2023 NEPTUNE DISTRICT Site Plan 25'-6"21'-10"97'-8"281'-9"33'-7"54'-8"21'-8"OFF RAMPBOUNDARYBOUNDARY BOUNDARY BOUNDARY BOUNDARYexisting easement on carpark BOUNDARYBOUND A R Y BOUNDARY BOUNDARYexisting easement on carpark TRITON TOWER 1 BOUNDARYS GRADY W A Y S GRA D Y W A Y SHATTUCK AVEKing County Parcel SOUTH RENTON VILLAGE PLACE TALBOT ROAD STTRITON TOWER 2 WELLS FARGO existing electrical substation 1985 to present TESLA HIGHWAY 4 0 5 EXISTING RETAIL TIRE SHOP APPLE BEES MCDONALDS EXISTING RETAIL EXISTING RETAIL LOT A 195'-1" LOT 6 288'-2" LOT B 72'-0"TRITON TOWER 3 LOT 4 212'-9"B OU N D A R Y 72'-0"LOT 3 LOT 572'-0"LOT 1 152'-7"LOT 2100'-2"LOT C 72'-0"ENTRY 123'-1"ENTRY 156'-1" 72'-0" ENTRY 71'-9" new road224'-7"landscaped park 172'-2"PODIUM 2 84'-1" PODIUM 1 195'-1" CARPARK 178'-5"72'-0"HOTEL G 123'-1"250'-8"106'-9"SITE PLAN: TRITON VILLAGE WALK N 300' N 25' SCALE: 1" = 150' 100'200'0' DATE: 02/03/23 LOT LINES KEY: 20' SETBACK LOT 1 LOT 2 LOT 3 LOT 4 LOT 5 TYPE RES. RES. PODIUM RES. + PODIUM CARPARK HOTEL GRD FL SQFT 18450 25035 43820 36209 49130 37962 20754 TOTAL SQFT 92250 125175 219100 181045 245650 189810 124524 TOTAL FLRS 5 5 2 5 2 6 5 II. & III. BUILDING AREA SQFT : HEIGHT 60 FT 60 FT 30 FT TOTAL: 90 FT 60 FT 30 FT TOTAL: 90 FT 60 FT 60 FT IV. PERCENTAGE OF LOT COVERAGE: 32% V. LANDSCAPING SQFT: 10,195,890 SQFT VI. PROPOSED MAXIMUM HEIGHT WITH PODIUM: 90’ VI. REQUIRED SETBACK: 20’ VI. EXISTING SETBACK: 20’ I. TOTAL SQFT OF SITE: 1027247 DATE : 02/08/2023 NEPTUNE DISTRICT Preliminary Tree Retention Plan Tree Retention & Landscape The project entails upgrading the affected mature landscape and treescape with a vibrant and younger array of plants and trees. This will promote a renewed and modern feel to the new work, live and play campus. OFF RAMPBOUNDARYBOUNDARY BOUNDARY BOUNDARY BOUNDARYexisting easement on carpark BOUNDARYBOUND A R Y BOUNDARY BOUNDARYexisting easement on carpark TRITON TOWER 1 BOUNDARYS GRADY W A Y S GRA D Y W A Y SHATTUCK AVEKing County Parcel SOUTH RENTON VILLAGE PLACE TALBOT ROAD STTRITON TOWER 2 WELLS FARGO existing electrical substation 1985 to present TESLA HIGHWAY 4 0 5 EXISTING RETAIL TIRE SHOP APPLE BEES MCDONALDS EXISTING RETAIL EXISTING RETAIL TRITON TOWER 3 B OU N D A R Y ENTRY ENTRY ENTRYnew road landscaped park PODIUM 2 PODIUM 1 CARPARK HOTEL G LANDSCAPE PLAN: TRITON VILLAGE WALK SCALE: 1" = 150' 100' N 300'200'0'25' N DATE: 02/03/23OFF RAMPBOUNDARYBOUNDARY BOUNDARY BOUNDARY BOUNDARYexisting easementon carpark BOUNDARYBOUND ARY BOUNDARY BOUNDARYexisting easementon carpark TRITON TOWER 1 BOU NDARYS GRADY W A Y S GRAD Y W A Y SHATTUCK AVEKing County Parcel SOUTH RENTON VILLAGE PLACE TALBOT ROAD STTRITON TOWER 2 WELLSFARGO existing electricalsubstation 1985to present TESLA HIGHWAY 4 0 5 EXISTINGRETAIL TIRESHOP APPLE BEES MCDONALDS EXISTINGRETAIL EXISTINGRETAIL TRITON TOWER 3 B OUN D A R Y ENTRY ENTRY ENTRYnew road landscapedpark PODIUM 2 PODIUM 1 CARPARK HOTEL G LANDSCAPE PLAN:TRITON VILLAGE WALK SCALE: 1" = 150' 100' N 300'200'0'25' N DATE: 02/03/23 KEY: PROJECT: ASSEMBLY ROW LOCATION: SOMERVILLE, MASSACHUSETTS ARCHITECTS: COPELY WOLFF DESIGNS PROJECT: BLACKSTONE MUSIC PARK LOCATION: SHANGHAI, CHINA ARCHITECTS: LAB D+H NEPTUNE DISTRICT Floor Plans MODUFY 0. LOT PROPOSAL ELECTRICAL SUBSTATION TW 1 TW 2 TW 3 LOT A LOT B LOT 6 LOT C LOT 4 LOT 5 LOT 1 LOT 2 LOT 3 PARKING MODUFY 0. LOT PROPOSAL ELECTRICAL SUBSTATION TW 2 TW 3 LOT A LOT B LOT 6 LOT C LOT 1 LOT 2 LOT 3 LOT 5 LOT 4 PARKING MODUFY 1. MODUFY UNITS MODUFY LOT 1 LOT 1 TW 3 LOT C LOT 2 LOT 4 2. LAYOUT OPTIMIZATION - STUDIO : 5% - 1 BDR : 45% - 2 BDR : 45% - 3 BDR : 5 % OPTIMIZATION GOALS MODUFY LOT 1 2. LAYOUT OPTIMIZATION 75 UNITS 13.3 % 53.4 % 26.7 % 6.7 % % TYPES OF UNITS STUDIO : 1 BDR : 2 BDR : 3 BDR : MODUFY LOT 2 2. LAYOUT OPTIMIZATION LOT 1 LOT 4 LOT 2 LOT 3 LOT 5 - STUDIO : 5% - 1 BDR : 45% - 2 BDR : 45% - 3 BDR : 5 % OPTIMIZATION GOALS MODUFY LOT 2 2. LAYOUT OPTIMIZATION 95 UNITS 5.3% 47.4 % 36.8% 10.5 % % TYPES OF UNITS STUDIO : 1 BDR : 2 BDR : 3 BDR : MODUFY LOT 3 2. LAYOUT OPTIMIZATION LOT 5 LOT 3 TW 2 - STUDIO : 5% - 1 BDR : 45% - 2 BDR : 45% - 3 BDR : 5 % OPTIMIZATION GOALS MODUFY LOT 3 2. LAYOUT OPTIMIZATION 145 UNITS 17.2% 44.8 % 31% 6.9 % % TYPES OF UNITS STUDIO : 1 BDR : 2 BDR : 3 BDR : MODUFY LOT 5 - RESIDENTIAL 2. LAYOUT OPTIMIZATION LOT 5 LOT 4 TW 2 - STUDIO : 5% - 1 BDR : 45% - 2 BDR : 45% - 3 BDR : 5 % OPTIMIZATION GOALS MODUFY LOT 5 - RESIDENTIAL 85 UNITS 2. LAYOUT OPTIMIZATION 11.8 % 47.1 % 35.3 % 5.9 % % TYPES OF UNITS STUDIO : 1 BDR : 2 BDR : 3 BDR : MODUFY LOT 5 2. LAYOUT OPTIMIZATION LOT 5 LOT 4 TW 2 - DEN : 25% - STUDIO : 50% - SUITE : 25% OPTIMIZATION GOALS MODUFY LOT 5 - HOTEL 2. LAYOUT OPTIMIZATION 150 UNITS 22.7% 43.3 % 24% % TYPES OF UNITS DEN : STUDIO/ SS : SUITE L : MODUFY 3. MASTERPLAN ELECTRICAL SUBSTATION TW 2 TW 3 LOT A LOT B LOT 6 LOT CLOT 4 LOT 1 75 DU LOT 2 95 DU LOT 3 145 DU PARKING LOT 5 - R 85 DU MODUFY 3. MASTERPLAN ELECTRICAL SUBSTATION TW 1 TW 2 TW 3 LOT A LOT 6 LOT 4 LOT 1 LOT 2 LOT 3 PARKING LOT B LOT C - RESIDENTIAL - RESIDENTIAL - RESIDENTIAL - RESIDENTIAL LOT 5 - H Conceptual Building Elevations Project: Paseo Verde Location: Philadelphia, Pennsylvania Project: Capital Hill Station Location: Washington D.C. Project: Caddies Boulevard Location: Sydney, Australia Project: Ely Court Location: South Kilburn, London Completed Modular Multifamily Projects See our portfolio HERE Sterling Manor -Regina, Saskatchewan 320 Units Domain -San Jose, California 430 Units Eviva -Sacramento, California 118 Units Cubix -Seattle, Washington 93 Units Sewer and Water Availability Information Utilities Availability Information Utility Availability Requirement Surplus/Deficit Water Available TBD TBD Sewer Available TBD TBD Storm Drainage Available TBD TBD Electricity Available TBD TBD Telecom Available TBD TBD We are working with the architects and engineers to determine the capacity required. This will be submitted with the permit set of plans for permit issuance. Additional Topics Additional Topics Table of Contents: •Modifications (Height, Density, Unit SF) •Parking (reduction for AFH per RCW 36.70A.540 –1 space per 4 units) •Tax abatement •Signage district •Control of landscaping on the easements Modifications (Height, Density, Unit SF) This project seeks a Modification for the following: •Residential use limit of 25% of the total gross floor area of all buildings on site. •Structured Parking (podiums) -Also, the project entails one free-standing parking structure •40% ground-floor commercial requirement in the residential buildings. *Subject to the Developer’s final design and City approvals Parking Reduction This project seeks parking requirement exceptions under the City of Renton Housing Action Plan. We seek less than 1/unit for residential based on the local apartment market and TOD. We seek less than 4/1000 for the office. Signage District We want to incorporate digital pylon signs and lighting to enhance the customer experience. The Sign District shall encompass the entire property. The Sign District would serve as a catalyst for investment in the City as a key destination for business, entertainment, and cultural activities. The Sign District will foster a vibrant urban environment with a unified aesthetic and sense of identity. The Sign District will allow the City to announce itself with a gateway-type signage facing the freeway. Proposed Signage District POV Control of Landscaping on the Easements This project seeks to perform the landscaping over the easements as a means to ensure the desired curb appeal along S. Grady Way & Talbot Road South at the cost of the City of Renton. We want to control the site perimeter We need to have an agreement in place for this maintenance. Please send inquiries by email to: Bseiden@innovatuscp.com | David@buildingz.io |Jack@mhseattle.com Innovatus Capital Partners 777 Third Avenue, 25th Floor New York, NY 10017 P: (212) 698-4580 www.innovatuscp.com