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Home My WebLink AboutSS5 - Discussion Regarding the Balboa Yacht Basin - PowerPointApril 9, 2024 Item No. SS5 BALBOA YACHT BASIN REDEVELOPMENT RFP RESULTS City Council Study Session April 9, 2024 CITY OF NEWPORT BEACH 829 HARBOR ISLAND DRIVE CITY OF NEWPORT BEACH l l flil i 1 D Or EXISTING USES •Commercial Tenants: • Galley Cafe, restaurant • Maritimo Marketing Americas, yacht broker • General Office — West Point Investments, Pacific Metals Group • Residential: • 3 apartment units (2-bedroom/1 -bath) • 1 unit currently vacant •Storage Garages: • 32 storage garages I, CITY OF NEWPORT BEACH 1 M. TIDELANDS BOUNDARIES - - M�,.i W14M �I y tIEJtif'11�F'�J�� Lands CURRENT RENT REVENUES Galley Cafe $675900 Maritimo $32,820 Offices $40,320 Apartments $80,490 Garages $170,800 TOTAL: $3925330 I, CITY OF NEWPORT BEACH Restaurant Office Office, 2 Units Residential, 3 Units Storage, 32 Units Floor AreIdi 1,350 sf + 3 garages 610 sf 790/136 sf each 1,100 sf each -200 sf each FACILITIES FINANCING PLAN (FFP) Design Work: 2025 Present Value: $14M Construction: 2028 FFP: $15,894,906 @ Year 2028 I, CITY OF NEWPORT BEACH REQUEST FOR PROPOSALS Posted: December 7, 2023 Closed: February 1, 2024 Scope of Work: The City is interested in preserving the Galley Cafe, increasing the number of storage facilities and increasing the number of office spaces offered. At a minimum, bathrooms, sho�,klers, laundry facilities, on -site property manager office for the marina, oil collection facilities, and janitorial and operational storage areas should be included as part ❑f the proposed project. Reuse ❑f Myrtle Park can also be included. The City is not interested in expanding or preserving the existing residential units. Proposals Received: Proposal No. Burnham Ward Properties • Renovated Marina Property • Galley Cafe & Outdoor Dining • Offices ( 20 Units) • Storage (104 Units) • Dry Racks (12 Units) • Enhanced Myrtle Park • Restrooms/Showers • Oil Collection Proposal Noj Basin Neighborhood Partners, LLC • 10 Single -Unit Residences • Galley Cafe • Expanded Myrtle Park • New Public Park • Offices (2 Units) • Restrooms/Showers • Dry Storage (40 units) BALBOA YACHT BASIN REDEVELOPMENT PROPOSAL February 1, 2024 •MWl rAUBT NALS N SAM Al ' k I AN s' =fir • ;_.. �yJ PROPOSAL NO. 1 Fj . - Kam.- ; - �L.kI1W.L4 fil y 1 MW & N - _4_4� BALBOAYACHT BASIN OPTIONI-RENDERED VIEW MBURNHAMIWARD SMSARCHITECTS Newport Beach, Cafifomia PROPOSAL NO. 1 LEGEND O UTDOO R STO RAG E - STORAGE - OFFICES . GALLEY CAFE NEW OUTDOOR DINING RESTROOMS/SHOWERS - NOT IN SCOPE Thh drawing and preaentatlon la conceptional In nature and no guamnu* of ita accuracy is Implied. The information Proulded herein la hated In part from Inforrnatnn whloh hae heen obt.1r dfrom aourcae that we deem reliahle, Hmv r, m �s me no reaponsIblI ty for it'a —racy. BALBOA YACHT BASIN Newport Beach, California 0102030 eo 120, rt�� OPTION D1 -SITE PLAN �EMBURNHAMIWARD SMSARCHITECTS t' ] P R 7 R E R T E S January 3L 2d2d 16 STQQQFt T 1'sw Sly PROPOSAL NO. 1 —L31JILGI�I f I —BUILDING 2 OF _S +r oFF ces 2,001 GF UILDING1 STORAGE AREA 3 817 SF LDING 2 1 %I —BUILDING 3 9b' U ILD ING 4 12 PROPOSAL NO. 1 BUILDING 5—BUILD INei' 6 BUILDING7 iLl _�iq: EU �r am I . J u. —BUILDING 4 BUILDING 6 - BUILD1N6b I I � 270RAGE AREAIN ! 11.8617 SF WILDING 7 EDINING GALLEY C3RCAFE 1,350 SF F r i NEW SEDOND STORY ADD La UPPER LEVEL R"IN MARINE 328D 5F 9 ILDING . _ .p sic �� Y 16. awp I BWP PROPOSAL NO. 1 • .� � .��e{�r��Y►#� .l it — ��'� - i � � 7 J BALBOA YACHT BASIN OPTION 1 -RENDERED VIEW M BURNHAMIWARD 5MSARCHITECTS Newport Beach, Calilomia SUMMARY: PROPOSAL NO. 1 Proposal: • New or substantially remodeled buildings • Galley Cafe & Outdoor Dining • Offices ( 20 Units) • Storage (104 Units) • Dry Racks (12 Units) • Enhanced Myrtle Park • Restrooms/Showers • Oil Collection Parkin : 136 Spaces I, CITY OF NEWPORT BEACH Project Cost: $14.5M Ground Lease Structure Revenue to City: $100,000 @ Year 3 Uplands 53% - $53,000 Tidelands: 47% ~ $47,000 Entitlement: • Surplus Land Act • Coastal Development Permit • Site Development Review 7 Basin Neighborhood Partners, LLC "A Custom Team created specifically for the Balboa Yacht Basin Redevelopment Project" West Point Investment Corporation Pendulum Property Partners Larry Tucker C.J. Light Associates • ITT Amoy"-; . riff _i PROPOSAL NO. 2 A.A.. OR I$LAND ❑RIVE 13ALLEY CAFE ks (D (D u w MYRTLE PARK BASIN MARINE QALBOA YACHT BOAT REPAIR YARD nnn I zu PROPOSAL NO. 2 21 PROPOSAL NO. 2 PROPOSAL NO. 2 MA P.L. PROPOSAL NO. 2 --------------------------------- ----------------------------r— UPPER LEVEL II ENTRY LEVEL I w L�vaa I 4 °9,tiRy a u GARAGE LEVEL I ua i LI -------t-------------------- ---- -- ------------------------------------------------ — ---- 24 Vil 4tE ML PROPOSAL NO. 2 -#Y SUMMARY: PROPOSAL NO. 2 Proposal: • 10 Single -Unit Residences • Galley Cafe • Expanded Myrtle Park • New Public Park • Offices (2 Units) • Restrooms/Showers • Dry Storage (40 units) Parkin : 136 Spaces I, CITY OF NEWPORT BEACH Project Cost: $44M Revenue to City: ~ $1.4M @ Year 4 Uplands 53% � $743,000 Tidelands: 47% � $658,000 Entitlement: • Surplus Lands Act • Local Coastal Program Amendment • General Plan Amendment • Zone Change • Site Development Review • Additional Environmental Review ROW r, ■\I i, rl 166 PROPOSALS SNAPSHOT JJ Burnham Ward Properties • New or substantially remodeled buildings • Galley Cafe & Outdoor Dining • Offices ( 20 Units) • Storage (104 Units) • Dry Racks (12 Units) • Enhanced Myrtle Park • Restrooms/Showers • Oil Collection ➢ Develop, Manage and Ground Lease ➢ Ground Lease Revenue to City: $100,000 @ Year 3 • More compatible with Marina I, CITY OF NEWPORT BEACH Basin Neighborhood Partners, LLC • 10 Single -Unit Residences • Galley Cafe • Expanded Myrtle Park • New Public Park • Offices (2 Units) • Restrooms/Showers • Dry Storage (40 units) ➢ Develop and Sell ➢ Ground Lease Revenue to City: $1,400,000 @ Year 3 • Less compatible use with Marina 28 ENTITLEMENT & AGENCY COMPARISON �ROPO?!SnAWO. ;A Local Coastal Program Amendment — N/A General Plan Amendment — N/A Surplus Lands Act — Declare Exempt State Lands Commission — N/A Coastal Development Permit Site Development Review Zone Change — N/A ji CITY OF NEWPORT BEACH ..a.a Local Coastal Program Amendment — Coastal Commision General Plan Amendment Surplus Lands Act — Declare Surplus Will need proposals from affordable housing developers first State Lands Commission Coastal Development Permit Site Development Review Zone Change 29 NEXT STEPS 1. Staff recommends selecting Proposal No. 1: ➢ Replace the existing facilities with an equivalent use. Eliminate the residential, preserve the Galley Cafe, and no intensification of use. 2. Declare Exempt Surplus and Enter into an Exclusive Negotiating Agreement. I, CITY OF NEWPORT BEACH THANK YOU Lauren Wooding Whitlinger, Real Property Administrator 949-644-3236, Iwooding@newportbeachca.gov Seimone Jurjis, Assistant City Manager 949-644-3282, sjurjis@newportbeachca.gov