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Brookhurst
Development Corp
Current and Past Projects
The
professional staff of BDC has over 110 years experience in the design,
construction, development and financing of public agency
facilities.
Working with public agencies and affiliated companies, it
has a strong track record of timely performance and completion of
the public projects it has funded, developed and/or provided
oversight of the construction management. Following is a
representative list of projects BDC and/or its senior staff have
completed, or is presently in the process of completing.
Case
Study - A Successful Public-Private Partnership
Inderkum
High School
Natomas Unified School
District
Sacramento, California
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Location:
Del Paso Boulevard
Sacramento, CA |
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Architect: Nacht & Lewis Architects
600 Q Street
Suite 100
Sacramento, CA 95814
Tel. 916.329.4000 |
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Contractor: Turner Construction
Company
2482 Natomas Park Drive
Suite 101
Sacramento, CA 95833
Tel. 916.614.9311 |
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Award
winning Inderkum High School
Architect: Nacht &
Lewis Architects
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Developer: Jeff Baize/Brookhurst
Capital
developed through The Eastridge
Companies,
LLC
Brookhurst Capital Corp
15030 Ventura Boulevard
Suite 907
Sherman Oaks, CA 91403
Tel. 818.788.6545 |
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Project
Budget:
$ 58 million
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Completion
Date: August 6, 2004 |
Project
Scope: This new 2000-student Inderkum High School will
include 72 classrooms, a sports stadium with regulation football
field and track, 2 baseball and 2 softball fields, 6 basketball
courts, 8 tennis courts, a gymnasium, theater and auditorium,
outdoor amphitheater and multipurpose atrium, 14 vocational
workshops, a cafeteria with full kitchen, science labs, video
studio and photography lab.
In addition, the new school will feature extremely innovative
energy systems including an underground closed-loop geothermal
system and a solar energy system with 150,000 square feet of
photovoltaic panels providing almost half of the high school’s
electricity needs.
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.
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Financial
Challenges The Natomas area had recently experienced
unprecedented growth resulting in severe overcrowding of the
only high school in the District. The new high school
would relieve the area of this overcrowding while providing
the community with a beautiful regional center for education
and community activities. However, the District was
challenged by inadequate funding to complete the high school
while also completing numerous needed capital programs for
their existing schools comprising renovation, modernization
and expansions.
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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:
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All
capital currently held by the District, and most of the
funding generated through a successful local general
obligation bond, could be used for all of the District’s
remaining capital improvement programs rather than going
towards the new high school.
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With
the developer’s dedicated professional staff overseeing the
project’s completion, the overworked District facility staff
could devote more time to other projects.
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The
District could demand from the developer a guarantee on
performance and completion within a very tight time frame
allowing school opening by the fall semester of 2004.
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There
would be no construction risks for budget overruns or delay in
schedule born by the District.
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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:
Sacramento Bee Article - Financial Lessons
California State University, Sacramento
Riverview Student Housing
Sacramento, California
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Location:
California State University
Sacramento Campus
Sacramento, CA |
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Architect: MVE
& Parnters
1900 Main Street
8th Floor
Irvine,
CA 92614
Tel. 949.809.3300 |
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Contractor: Turner Construction
Company
2482 Natomas Park Drive
Suite 101
Sacramento, CA 95833
Tel. 916.614.9311 |
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Riverview Student Housing Project
"Destination 2010" Master Plan
Architect: MVE & Partners
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Developer:
Brookhurst Development Corp
15030 Ventura Boulevard
Suite 907
Sherman Oaks, CA 91403
Tel. 818.788.6545 |
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Project
Budget:
Phase 1: $70 million
Total Project: $250 million
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Status:
Pending Approval - Office of the
Chancellor |
Project
Scope: This project is part of the exciting "Destination
2010" master plan adopted by the California State University,
Sacramento that will ultimately provide up to 5,000 new beds for
students attending the university. Brookhurst
Development Corp assembled a team comprised of the two of the
largest and best recognized construction companies in the
Sacramento area in addition to the award winning architectural
firm of MVE & Partners to design, finance and construct a state of
the art student housing complex located on university land.
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.
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Riverview Student Housing - View from Dining Commons and
Retail |
The goal of the Brookhurst Team was to create a "real life" urban
environment that fosters relationships and enriches the quality of
student life. Through thoughtful urban design that expresses a
diversity of communal spaces, the Team provided physical settings
intended to enhance student life by providing a rich social and
educational environment outside the classroom. Some of
these amenities offered include:
Multi-phasing of 5,000 new beds
through 2010
Plaza-level retail providing in an
exciting "urban village" context
Up to 2,000 parking spaces in two
parking structures
Campus Dining Commons
Open Greens providing a beautiful
and relaxing landscaped environment
Efficient "Green Building" design
Integration into enhanced central
plant facilities
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Riverview Student Housing - View
of Central Green |
Letter
of Endorsement - California State University, Sacramento
Ohlone Community College
Parking Facility &
Renewable Energy System
Fremont,
California
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Ohlone Community College of Fremont, California has embarked on an
aggressive and exciting plan
to provide the community with needed
multi-use redevelopment of its historic Mission Boulevard while
concurrently meeting the future parking needs of both this new
development and the College. In response to a publicly issued
Request for Qualifications, five development teams competed to
meet this challenge. After multiple
interviews and
an extensive selection process, the Board of Trustees approved the selection
of the Brookhurst Development team with the
following recommendation from the President: |
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"The
successful firm [Brookhurst] presented the best |
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"Granada" -
Mission District Parking Design
Watry Design, Inc. |
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overall
package of financing options, the most flexible partnership participation,
and the most experienced team to study, plan, design, construct,
and manage the project." |
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.
Date of Services:
2008
Mohave County Correctional Facility
Kingman, Arizona
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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. |
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Estimated Budget: $85 million
Projected Completion Date:
2010 |
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Proposed New
Mohave County
Correctional Facility
Arrington & Watkins Architects
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Los
Angles Unified School District
Los
Angeles, California
Projects:
13 high school, middle school and elementary school development
sites in the San Fernando Valley District of LAUSD as follows:
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School |
Project
Budget |
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East
Valley New High School #1A
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$ 77,616,000
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East
Valley New High School #1B
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$ 77,913,000
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East
Valley New High School #2
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$ 63,671,000
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East
Valley New High School #3
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$ 105,043,000
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East
Valley New Middle School #1
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$ 70,257,000
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East
Valley New Middle School #2
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$ 48,885,000
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Maclay
New Primary Center
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$ 12,743,000
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East
Valley Area Middle School #2
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$ 26,500,000
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Canoga
Park New High School
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$ 15,358,000
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North
Hollywood Primary Center #4
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$ 17,430,000
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Noble
Elementary
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$ 17,533,000
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North
Hollywood New Elem. #3
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$ 32,106,000
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Monroe
New Elementary School #2
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$ 21,297,000
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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:
2001
Long
Beach Community College
Long
Beach, California
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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.
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Services
Provided: Construction Management,
Administrative Oversight Services, Project Coordination,
Maintenance and Operations Management.
Project Manager:
Ray Rodriguez, Managing Director, BDC
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Date
of Services:
2001
Contact:
Eloy Oakley, Vice President Long Beach
Community College
Tel.
(562) 938-4406
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