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Brookhurst
Development Corp The
professional staff of BDC has over 110 years experience in the design,
construction, development and financing of public agency
facilities.
Case
Study - A Successful Public-Private Partnership
Project
History In December,
2001, through a contractual arrangement between The Eastridge
Companies LLC and Brookhurst Capital Corp, Jeff Baize, founding
principal of Brookhurst Development met with staff of the Natomas Unified School District, a public school district in
Sacramento, California, to discuss a proposed master planned
education center to be developed in north Sacramento. This
center was to be known as the North Natomas Town Center and would
encompass over 200 acres featuring a community college, city
library, regional park, aquatics center, and most importantly, a
new, $58 million 2,000-student high school later to be known as
the Inderkum High School. The project was to be a joint
venture between the City of Sacramento, Los Rios Community College
District and Natomas Unified School District.
Lease
Leaseback Proposal Mr. Baize worked with Natomas Unified School District in
devising a way the District could both complete all of the needed
renovations and modernizations throughout the District while also
funding the new Inderkum High School project. Working with
the Board of Trustees, the Superintendent and staff of the
District, Mr. Baize structured a financing and development
arrangement through the authority granted under California
Education Code §17406 to allow a developer to fund, construct and
own the school facilities to be built upon on land leased to the developer by the
District. Once completed, these facilities would then be
leased back to the District (known as a “lease leaseback”
development). This would provide the District the
following financial benefits:
Mr. Baize assembled a team of the most recognized entities in the
school construction industry, including Turner Construction
Company. He then structured of a non-profit leasing and
development arrangement directing underwriters, bond counsel and District
counsel to accomplish all of the above benefits
while also allowing the issuance of tax exempt certificates of
participation (a form of lease revenue bonds) to fund the
project’s construction. Part of the challenge was being
able to sell the bonds at a triple-A rate, as the District had
some credit concerns at the time. Mr. Baize was successful
in getting a large financial institution based in New York to
guarantee the bonds. On May 8, 2003, $66 million in bonds
were successfully sold bearing an interest rate of 1.6%
for
funding the new high school. Turner Construction
reports the project is under budget and ahead of schedule.
Letters of Endorsement - Natomas Unified School District:
The Brookhurst Development Team was selected over numerous nationally recognized student housing development firms in a highly competitive bid process. The project was awarded to Brookhurst under an exclusive development contract in 2009.
McGeorge School of Law
Location:
McGeorge School of Law
McGeorge School of Law
Architect: Fisher-Friedman
& Associates
Contractor:
Clark & Sullivan Construction
Developer:
Brookhurst Development Corp
Project
Status:
Exclusive Development Agreement
The new student housing will feature large single and double
occupancy suites that cater to the needs and lifestyle of law
students. As with the Stockton campus project, this project
is being designed by the award-winning firm
Fisher-Friedman & Associates and will ultimately feature close
to 200 new beds for the campus. The LEED certified design will
incorporate contemporary student housing concepts employing such
sustainability methodologies as photovoltaic-capable energy
systems. The housing project was designed to fit in with the
context of the surrounding campus maximizing the vistas over the
adjacent landscaped park settings. The Brookhurst
Development Team was selected over numerous nationally recognized
student housing development firms in a highly competitive bid
process. The project was awarded to Brookhurst under an
exclusive development contract in 2009.
East
Location:
California State University
Architect: MVE
& Parnters
Contractor: Turner Construction
Company
Developer:
Brookhurst Development Corp
Project
Status:
Pending Approval - Office of the The Brookhurst Development Team was selected over numerous nationally recognized student housing development firms in this highly competitive bid process. BDC is presently on a short list under final consideration of the Office of the Chancellor.
Plaza-level retail providing in an
exciting "urban village" context
Campus Dining Commons
Open Greens providing a beautiful
and relaxing landscaped environment
Efficient "Green Building" design
Integration into enhanced central
plant facilities
Ohlone Community College
"Granada" -
Mission District Parking Design
The Brookhurst Development team includes the award-winning
architectural and engineering firm Watry Design, Inc. and well
established DPR Construction, Inc. The first
phase of the project is to include the financing and development
of an aesthetically pleasing multi-tiered parking facility that
embraces the historic Mission District of Fremont. This parking
structure will also feature an advanced energy system
with an array of photovoltaic solar panels that will provide the
College clean renewable energy as well as covered parking for the top deck of the
parking structure.
The entire project scope and budget will be determined upon
Brookhurst Development completing an extensive due diligence
program and feasibility study in 2008.
Mohave County Correctional Facility
The innovative County of Mohave,
Arizona is using a "lease lease-back" development
approach for their new 1,000 bed correctional facility. This
approach requires the developer to design, finance and construct the
facility while also providing facility management over a 15-year
lease. The County issued a public solicitation and an
entity created by Brookhurst Development for the project, the Mohave
Correctional Development Partners, was selected among two finalists.
The Brookhurst Development team
includes the award-winning corrections facility architectural
firm, Arrington & Watkins Architects, and the Tucson
based general
contractor Sundt Construction.
The Mohave County Board of
Supervisors, staff and the Sheriff's Department are presently
negotiating final contracts for this development.
Estimated Budget: $85 million
Projected Completion Date:
Los
Angles Unified School District Projects:
13 high school, middle school and elementary school development
sites in the San Fernando Valley District of LAUSD as follows:
School
Project
Budget
East
Valley New High School #1A
$ 77,616,000
East
Valley New High School #1B
$ 77,913,000
East
Valley New High School #2
$ 63,671,000
East
Valley New High School #3
$ 105,043,000
East
Valley New Middle School #1
$ 70,257,000
East
Valley New Middle School #2
$ 48,885,000
Maclay
New Primary Center
$ 12,743,000
East
Valley Area Middle School #2
$ 26,500,000
Canoga
Park New High School
$ 15,358,000
North
Hollywood Primary Center #4
$ 17,430,000
Noble
Elementary
$ 17,533,000
North
Hollywood New Elem. #3
$ 32,106,000
Monroe
New Elementary School #2
$ 21,297,000 Project
Services: Preliminary master planning, site acquisition,
processing of CEQA documentation, coordination with California
Department of Education (CDE), the Department of State Architect (DSA),
and the Department of Toxic Substance Control (DTSC), eminent
domain proceedings and negotiated sales. Principal of
BDC Jeff Baize headed a staff of seven LAUSD employees and
consultants overseeing the acquisition process for LAUSD’s
school developments located in the San Fernando Valley and funded
through State issued Proposition 1A general obligation bonds. Date
of Services:
Long
Beach Community College
Project:
LBCCD Facilities Construction Management
Project
Description: BDC affiliate RMA
Construction Services is currently providing
Management Consulting Services to the District's
Facilities department. Managing Director Ray Rodriguez is
serving as the interim Director of Facilities and is
working with the management team to develop processes,
procedures and technologies to address the current and
future facilities, maintenance and operations needs of the
district.
Presently
the District is in the early stages of a 200 million
dollar capital improvement bond program. Mr.
Rodriguez and his staff are supporting the program
managers with information and resources that are
critical to the success of the program.
Project Manager:
Ray Rodriguez, Managing Director, BDC Contact:
Eloy Oakley, Vice President Long Beach
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