The University of Mary Washington Foundation announced today its plans for the first phase of construction for the Park & Shop retail center, now known as Eagle Village.
The UMW Foundation will begin construction of apartment-style student residences, a secured transportation center, a pedestrian bridge spanning U.S. 1, and new retail, restaurant and “Class-A” office space on seven acres at the northern end of the shopping center. At a cost of $115 million, Phase I is expected to begin in March 2009 with an estimated completion date of summer 2010.
Eagle Village will be a pedestrian-friendly residential and retail mixed-use village for
townspeople, students and faculty to shop, live, work and enjoy entertaining facilities, all within a sustainable “green” urban setting.
“Our announcement today marks the beginning of a long-term effort not only to enhance the UMW experience for our students, but also to provide benefits for residents of the City of Fredericksburg,” said UMW President Judy Hample. “I am proud to be working with the City to explore innovative ways to improve our community together.”
Two five-story apartment buildings will be constructed to accommodate 620 students. Each apartment will house four students and will feature two large bedrooms, two full baths, a living room and a full kitchen. The complex will have a concierge desk for 24-hour security and a resident manager. The residences will be reserved for upper-class students and may be available for summer conference groups.
The addition of these residences will relieve overcrowding on campus, allow the university to renovate its current residence halls and reduce demand for student rental units and parking in local residential neighborhoods. They also will allow the university to save the remaining green space on campus originally slated for the two residence halls. Those sites are now reserved for future University use.
The 221,000-sq.-ft. transportation center will feature 540 automobile spaces, some of which will be reserved for electric and fuel efficient vehicles, as well as large bicycle corrals. It will be fully-secured through security cameras, a gated entry/exit and card swipe access for users. It also will be connected to the student residences by a covered walkway. Access will be reserved for students and office tenants.
The transportation center will incorporate retail and office space on the ground level. The 30,000 sq. ft. of retail space will be leased to current tenants of Park & Shop who wish to relocate, as well as new tenants currently being attracted to Eagle Village. This also will include several restaurant spaces with large outdoor dining terraces. Parking will be added around the perimeter for patrons of these stores. An additional 36,000 sq. ft. of “Class-A” office space will be constructed over the retail shops and will include private elevators. Even though it is a tax-exempt organization, the UMW Foundation will continue to pay real estate taxes to the City of Fredericksburg on all commercial portions of the development.
Finally, the pedestrian bridge will be an extension of the University’s Campus Walk that spans 214 ft. across U.S. 1. It will be 14 ft. wide to allow passage by pedestrians, bicycles and golf carts used on campus. The bridge, along with the rest of the new construction at Eagle Village, will be built in the Jeffersonian architectural style of Fredericksburg campus, with red bricks and cupola-topped towers at each end. It also will be fully enclosed with glass sides.
“It is our intention to build a monumental gateway to the city that also allows safe passage across Route 1 for our students, faculty, staff and local neighbors,” said Jeff Rountree, CEO of the UMW Foundation.
According to Rountree, the City of Fredericksburg benefits from the project by continuing to receive real estate taxes on the commercial portion of the property, an increase in sales tax revenue from the addition of new businesses, the transformation of an older shopping center into a vibrant community-centered village with expanded retail and cultural offerings, the reduction of student demand for rental units and parking within the City, and the possibility of contributing to the City’s Comprehensive Plan and the JumpStart Plan.
Eagle Village is owned and managed by the University of Mary Washington Foundation, a private 501c3 organization with a mission to accept, manage and administer assets for the benefit of the University of Mary Washington. As such, no student fees or state funds are being used in the purchase or development of the property. The UMW Foundation has a large portfolio of holdings. Its current $25 million-plus in real estate assets include the UMW Apartments on William Street, residential housing, office space and hundreds of acres of undeveloped land in the region. The Foundation’s endowment also supports the university by funding scholarships, professorships, student programming, academic programming and other special projects.
For more information about the project, visit www.umw.edu/foundation/eaglevillage.
Overall Vision for the Property
• A pedestrian-friendly residential and retail mixed-use village for townspeople, students and faculty to shop, live, work and enjoy entertaining facilities…all within a sustainable “green” urban setting
• Upgraded core retail services (grocery store, dry cleaners, post office, etc.), with tenants enjoying upgraded facilities and increased patronage within an urban setting
• Park & Shop to be re-named Eagle Village
• Connect the UMW campus and the MediCorp campus and explore mutual synergies between the two institutions
Background Information on the Property
• The UMW Foundation (previously the UMW Real Estate Foundation), a private 501c3 organization, owns and operates the 21-acre Park & Shop retail center.
• The Foundation purchased the center, built in 1963 by the JBG Rosenfeld Company, for $18.75 million on December 7, 2007.
• The retail center currently has 31 tenant spaces totaling 235,564 sq. ft.
• UMW’s Jeffersonian brick and column architecture will be the inspiration for all new construction.
• The redevelopment will be completed in phases over the next 3 to 10 years.
• No student or University (State) funds will be used for the acquisition or development of Eagle Village. This will be a privately-financed project of the UMW Foundation.
Overview of Phase I
• Phase I will encompass approximately seven acres of redevelopment at the northern end of the existing center where the Rose’s Department Store is currently located.
• Phase I will include five major elements:
1. Pedestrian Bridge over U.S. 1 connecting UMW to Eagle Village
2. Premium Student Residences to include 620 beds
3. Secured Transportation Center for 540 cars and 200 bicycles
4. New Retail and Restaurant Spaces (30,000 sq. ft.)
5. New "Class-A" Office Space (36,000 sq. ft.)
• Envisioned as a monumental gateway to the City of Fredericksburg
• A design of red brick with cupola-topped towers at each end
• Fully enclosed with a roof and glass sides
• To serve as a continuation of the University’s Campus Walk and a safe connection to the campus and College Heights neighborhood
• Will span 214 feet (clear-span) across U.S. 1
• Will be 14 feet wide to comfortably allow passage by pedestrians, bicycles and electric utility (golf) carts
Premium Student Residences
• Two 5-story structures will contain 156, two-bedroom apartments to be constructed in a 206,000 sq. ft. “U”-shaped complex, fronted by a two-story rotunda
• A front garden will feature small fountains surrounded by café tables. The large rear courtyard will have a sizable terrace for social activities and a long grassy area for recreation.
• Each apartment will feature two large bedrooms (designed for two students per room), two full baths, a living room and a full kitchen with eat-in bar.
• The complex will have a concierge desk for 24-hour security and a resident manager.
• Laundry rooms will be provided on every floor.
• A meeting room will be available for private student functions, and the two-story entry rotunda will provide ample social space for students to mix and mingle.
• The residences will be reserved for upper-class students and may be available for summer conference groups.
Secured Transportation Center
• A 221,000 sq. ft. structured deck for both automobiles and bicycles
• Of the 540 automobile spaces, approximately 3 percent will be reserved for fuel-efficient vehicles.
• Fully secured with monitored cameras, gated entry/exit and card swipe access for users
• Wrapped with the offices facing U.S. 1 and retail on the first floor facing south and east
• Large bike corrals will be part of the Center’s design, encouraging students to walk and bike to their destinations.
• Connected to the student residences by a covered walkway
New Retail and Restaurant Spaces
• 30,000 sq. ft. of new ground-floor retail will be constructed.
• The retail will be leased to both current tenants of the Center that wish to relocate and to new tenants currently being attracted to Eagle Village.
• Several restaurant spaces with large outdoor dining terraces will be offered. Negotiations with several restaurateurs who will move into the center are currently underway.
• Parking will be added to accommodate the new retail.
New Office Space
• 36,000 sq. ft. of new “Class-A” office space will be constructed over the retail shops on the first floor.
• Private elevators and access to spaces within the Transportation Center will be featured for businesses that move into the Village.
• Negotiations with potential tenants are currently underway.
• The Foundation hopes to begin construction on Phase I as early as March of 2009.
• Target date for completion is summer of 2010
• A very aggressive timeline with alternative scenarios built into the process
• Planning for Phase II will begin in the near future, but construction would be several years off.
• The UMW Foundation expects to spend approximately $115 million on construction costs and land acquisition to develop the first seven acres of Eagle Village (Phase I) alone.
Benefits to the City of Fredericksburg
• Although a tax-exempt organization, the UMW Foundation will pay real estate taxes to the City on most of the redevelopment improvements.
• An older shopping center, with a high vacancy rate, will be transformed into a vibrant new community-centered village with expanded retail and cultural offerings, as well as upgraded storefronts and walkways, and more green space.
• Will provide additional sales tax revenue for the City from increased retail outlets and sales.
• New student housing will reduce the need for many of the student rental houses in the City, as well as the parking issues that often accompany those units.
• The renewal of this area could play an important part in the City’s Comprehensive Plan and in the JumpStart Plan.
Benefits to the University
• The ability to expand without encroaching on the University’s remaining green space will preserve the open feel and beauty of the Fredericksburg campus.
• The additional residence halls will eliminate the need for the two residence halls planned for construction on the Fredericksburg campus, thereby preserving these construction sites for future academic buildings.
• The ability to attract both local and national franchises that appeal to students and employees will elevate and enhance their experience at the University.
• Upper-class students will have the option to live in premium student housing, and the additional housing will allow certain existing residence halls to be renovated without disrupting the lives of the students who choose to live on campus.
About the UMW Foundation
• The UMW Foundation is a private 501c3 organization with a mission to accept, manage and administer assets for the benefit of the University of Mary Washington.
• One of the UMW Foundation’s primary roles is to acquire and develop real estate for the University.
• The UMW Foundation has a large portfolio of holdings. Its current $25 million in real estate assets includes the UMW Apartments on William Street, residential housing, office space and hundreds of acres of undeveloped land in the region.
• The UMW Foundation does not use student fees or state funds for the acquisition or development of the property.
• Florian “Red” Hofer is chairman of the UMWF Board, Kathy Shepherd Mehfoud, ’70 is vice-chairman, Dr. Theresa Young Crawley ’77 is secretary, Richard V. Hurley is treasurer and Jeff W. Rountree ’91 is the chief executive officer.
More information can be found online at www.umw.edu/foundation/eaglevillage.
EAGLE VILLAGE DEVELOPMENT PARTNERS
Concord Eastridge Inc. Jeffrey Arnold, President
Concord Eastridge, Inc. is a nationally recognized leader in public/private and mixed-use real estate development in association with universities and colleges, public entities, not-for-profit organizations and other institutions. The firm also develops large-scale commercial and residential projects for its own accounts that complement its public/private development endeavors. Concord Eastridge is a woman-owned business, headquartered in Arlington, Va., with offices in Phoenix, Ariz., and Orlando, Fla. The company and its affiliates are currently involved in the development of more than 20 projects in 10 states.
Rodriguez Ripley Maddux Motley Architects Dan H. Hickok, Jr. AIA Vice President
RRMM Architects (formerly Rodriguez Ripley Maddux Motley Architects), with offices in Norfolk and Roanoke, is a leading dynamic Virginia design firm offering architecture, interior design, design build and planning services. It was recently listed as one of the largest architectural firms in the state by Virginia Business magazine and is one of the top architectural firms in the Hampton Roads area, according to Inside Business. RRMM’s experience includes working with clients on projects that include new construction, renovations, additions, programming, space planning, feasibility studies and master plans. They often assist their clients in site selection, permitting and approval process, financial planning and community facilitation of project goals. They have the resources to help determine project goals, identify green design strategies, measure and monitor LEED progress, and document the project’s success. They have a proven track record of delivering projects on time and within budget.
Donley’s Contractors Kurt D. Weinfurther
Regional Vice President
Donley’s is a leading Construction Manager, Design Builder and General Contractor with offices in Richmond, Raleigh, N.C., and Cleveland, Ohio. The firm specializes in higher education, health care, municipal and institutional markets, as well as serving commercial developers and owners. Donley’s was founded more than 100 years ago and entered the construction markets as a concrete contractor before becoming a Construction Manager and Design Builder. The firm continues to self perform structural and architectural concrete in selected markets on major projects. The President and CEO is Mac Donley, the fourth generation of the Donley family to lead the company. Kurt Weinfurther, Regional Vice President heads up the Southeast Region out of the firm’s Richmond office. Donley’s was the design builder of UMW’s first parking deck on campus and was the recipient of the Design Build Institute of America’s National Award for Excellence for its design build parking deck in downtown Fredericksburg. The firm is currently constructing projects at multiple higher education institutions including UVA, GMU and JMU in Virginia; UNCW in North Carolina, Notre Dame College and Cuyahoga Community College in Cleveland. Donley’s is acting as construction manager for the residential hall component of Eagle Village and as Design Builder for the combination parking deck retail office building under the direction of Concord Eastridge.