Perry reader, What Is the Recipe for Community Development-Let's Stir the Pot

1. What Is the Recipe for
Community
Development?
Let’s Stir the Pot
ULI Spring Meeting 2012
Charlotte, NC
Perry J. Reader
President

2. Portfolio Projects
Celebration
Mixed Use -Traditional Neighborhood Community
Celebration, Florida
An innovative, real town created by the Walt Disney Company that
successfully combined architecture, education, health and technology in
ways that attracted outstanding results in the market. Today, Celebration
is home to over 11,000 residents, a vibrant town center and still visited by
millions of people from around the world. Its planning and execution set the
New Urbanist movement in full motion as it was the first major project of its
kind undertaken to include residential, retail, institutional and office uses
all within its 2,500 acre master plan.
Baldwin Park
Mixed Use -Traditional Neighborhood Community
Orlando, Florida
Baldwin Park is an award-winning neighborhood created to be a livable, walk-
Viera
able project just east of downtown Orlando, Florida. Built on the site of a A Master Planned New
former Naval Training Center, the 1,100-acre neighborhood today is home to Town
8,000 residents and more than 125 businesses. The City of Orlando awarded Viera, Florida
the project’s development to Atlantic Gulf/Orlando Partners after an extensive A 38,000 acre ranch which
competition based on their design which included a wide range of housing, started development in the
schools, parks, lakes, shops and other community features. early 90’s that has grown
into a full-scale new town
complete with everything
from Major League
Baseball to the Brevard
Zoo. Today, it is home to
over 25,000 residents.

3. Select Current Projects
Bethpage
Master Planned Community
Raleigh, North Carolina
Located between the Research Triangle Park (RTP) and the Raleigh-
Durham International Airport (RDU), the property is mostly wooded and
features a network of streams. The proposed development includes 1,300
residential units, a 20 acre retail site and an affiliated office park. The
product mix and master plan incorporates conventional and traditional
neighborhood design principles. The multiple residential products appeal
to different segments of the market incorporating rental and for sale
products in order to increase absorption .2011.
Wildwood Springs
Master Planned Community
Wildwood, Florida
Wildwood Springs is a 1,046 acre ranch located
approximately 50 miles northwest of Orlando in
Wildwood, Florida. The master plan includes over
3,000 residential units and a neighborhood retail
center. Located near the highly successful Villages
community, the project has direct access to the
Florida Turnpike and I-75. Reader & Partners has
obtained development entitlements through a
Development of Regional Impact (DRI) process.
The plan incorporates a varied lot mix designed in
pods to appeal to age-targeted as well as family
buyers. The major open space system preserves
and links the existing natural features.

4. MPC Activities
Operating Partner/Development Manager
• Wildwood Springs Wildwood, FL
• Longleaf Tampa, FL
• Bethpage Raleigh, NC
• Holding Village Wake Forest, NC
• Oak Creek Tampa, FL
• Indian Springs Orlando, FL
• Churchill Raleigh, NC
Advisor/Project Consultant
Acquisition/Asset Services
• Veridea Raleigh/ Apex, NC
• Multiple projects Orlando – Tampa, FL
• Hernando West Memphis, TN
• Canoa Ranch Green Valley, AZ
• Walnut Trails Overland Park, KS

5. Trend: Senior Housing Options
• The baby boomers will “experience” seniors housing
differently from prior generations.
• Life Expectancy
• Relationships to other family members
• Continue business or employment
• More senior housing products integrated into communities.
• Seniors will expand community's social infrastructure.
• More emphasis on use of affinity groups where residents
can interact with like minded.
• Healthcare will increase use of technology to effectively
deliver services and care.
Project Types
• Single Family Age Restricted /Targeted
• Seniors Apartment Community
• Senior Resort or Lodge
• Independent Living
• Assisted Living
• Nursing Care

6. Trend: Re-Use/Scale Down
Re-development of broken deals resulting
in re-use and downsizing
• Land development
• Phases
• Modification of Lot Sizes
• Amenities
• Re-use of completed but not successful
• Incremental building of new
• Greater partnering to share risk
• Investment Parameters
• Time horizon and return expectations
• Concern for price appreciation
Longer Term issues
• Ownership versus rental
• Public financing for major infrastructure
• Virtual versus physical community features
• Return to more multi-generational living