Contact:Mark Nordland, ManagerL&H Development, LLC222 North Second StreetMinneapolis, MN 55401Phone:     612.812.7020Fax: ...
Table of ContentsLetter of Interest                                    1Development Program and Plans                     ...
November 1, 2010                          City of Minneapolis - Department of CPED                          105 5th Avenue...
Development Program                         Proposed Master Plan for Development                         The L&H Station d...
Development Program                           The L&H Station concept master plan will be phased to allow for market and f...
Development Master Plan
Phasing Plan
Development Plans                                               F                               A                         ...
Development Plans                              A               E                                  D                       ...
Project Goals and ApproachCurrent Site ConditionsThe 2225 East Lake Street site presents a unique opportunity to redevelop...
Project Goals and ApproachL&H Station Development Team intends to partner with CNO and the City for the masterplan of the ...
Project Goals and Approach                        Community Engagement                        Beginning in November of 200...
Project Goals and Approach                        South High School - located within two blocks of the site, with 2,000 hi...
Project Goals and Approach                                Geo-technical and Environmental Issues                          ...
Development Timeline and ProformaAs described earlier, L&H Station Development, LLC proposes a phased approach to thesite ...
Development Timeline and ProformaAcquisition Price$7,000,000 or $24.80/sf for 6.48 acresLand acquisition will occur in thr...
L&H Station Development ProposalPhase IA                         Developer                                         Start  ...
Development Team     The L&H Station development group structure is defined as illustrated in the attached     organizatio...
L&H Development, LLC                                  L & H Station Development is a master development organization forme...
Team Resumes                                            Mark Nordland                                            L&H Stati...
ReferencesMark Nordland References:US BankContact: Bob EversonConstruction and Design Manager2800 East Lake StreetMinneapo...
United Properties                                   United Properties is a leader in commercial real estate development an...
Team Resumes                                         William P. (Bill) Katter                                         Unit...
ReferencesUnited Properties References:City of Eden PrairieDavid LindahlCommunity Development Director8080 Mitchell RoadEd...
Relevant ExperienceNormandale Lake 8000 Tower/TIAA-CREFBloomington, MNTIAA-CREF owned a vacant 4.1-acre site within Norman...
Relevant ExperienceCentennial Lakes Mixed-Use DevelopmentEdina, MNCentennial Lkes is a world-class mixed-use development l...
Relevant ExperienceColoplast CorporationMinneapolis, MNColoplast needed to rapidly relocate its U.S. headquarters to Minne...
Relevant ExperienceFord CenterMinneapolis, MNFord Centre, an historic landmark within the Minneapolis warehouse district, ...
Greystar                              Greystar was founded in 1993 with the intent to become a provider of world-class ser...
Team Resumes                                            Kevin Kaberna                                            Greystar:...
ReferencesGreystar References:Prudential Real Estate InvestorsJim Mehalso2 Ravinia Drive, Suite 400Atlanta, Georgia 30346(...
Relevant ExperienceRed River Flats - Austin, TXSouth Congress Apartments - Austin, TX
Relevant ExperienceGrand Reserve - Dallas, TXDaniel Island Village - Charleston, SC
Relevant ExperienceCypress VillageCypress, TXIn collaboration with a retail developer and the local transit authority, Gre...
Relevant ExperienceWest End Ranch ApartmentsSugarland/Houston, TXFor apartment development, Greystar targets sites with pr...
Firm IntroductionSeneca at Cypress CreekTampa,FLProject Highlights  •   Worked with municipality and successfully rezoned ...
Greco, LLC                                At GRECO, LLC our intent is to create an innovative, superior product in and for...
Team Resumes                                        Arnie J. Gregory                                        Greco: Owner  ...
ReferencesGreco References:Crown BankContact: Mr. Kevin HowkSenior Vice President6600 France Avenue South, Suite 125Edina,...
Relevant ExperienceNine Mile Creek Senior LivingBloomington, MNNine Mile Creek Senior Living is 91 dwelling units that off...
Relevant ExperienceHeritage LandingMinneapolis, MNHeritage Landing represents a high-density, mixed-use, urban infill proj...
Relevant ExperienceLaSalle ApartmentsMinneapolis, MNHistoric renovation of 103,000 SF, 13-level, vacant YMCA building loca...
Relevant ExperienceRiverstationMinneapolis, MNDevelopment and construction of a 360-unit, 12-building, for-sale, residenti...
Project for Pride in Living                            Project for Pride in Living, Inc. (PPL) is a nonprofit organization...
Team Resumes                                        Steve Cramer                                        PPL: President and...
Team Resumes                          Chris Wilson                          PPL: Director of Real Estate Development      ...
ReferencesPPL References:Minneapolis CPEDContact: Mike Christenson, DirectorCrown Roller Mill105 Fifth Avenue South #200Mi...
Relevant ExperienceCamden ApartmentsMinneapolis, MNPPL and Emerge Community Development jointly developed Camden Apartment...
Relevant ExperienceMidtown Exchange Condos on the GreenwayMinneapolis, MNPPLs "Midtown Exchange Condos on the Greenway" is...
Relevant ExperienceLinden DevelopmentNew Hope, MNPPL developed this long vacant City-owned parcel in New Hope in two phase...
BKV Group                          BKV Group is a full-service architecture, engineering, interior design, landscape archi...
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Development Proposal for southwest parcel at Lake Street and Hiawatha light rail station

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  1. 1. Contact:Mark Nordland, ManagerL&H Development, LLC222 North Second StreetMinneapolis, MN 55401Phone: 612.812.7020Fax: 612.339.6212mark.nordland@gmail.com a proposal for redevelopment at 2225 East Lake Street
  2. 2. Table of ContentsLetter of Interest 1Development Program and Plans 2Project Goals and Approach 3Development Proforma and Timeline 4Development Team 5 L&H Development, LLC United Properties Greystar Greco, LLC Project for Pride in Living (PPL) Consultants
  3. 3. November 1, 2010 City of Minneapolis - Department of CPED 105 5th Avenue South, Suite 200 Minneapolis, MN 55401 Re: 2225 East Lake Street Redevelopment222 North Second StreetMinneapolis, MN 55401 Dear Selection Committee:Phone: 612.812.7020Fax: 612.339.6212 On behalf of L & H Station Development, we respectfully submit our proposal for redevelopment of 2225 East Lake Street. The attached response to the RFP illustrates our proposed project and development team. We have outlined our development process for determining the highest quality project, the methodology for establishing the design, accessing the market place and defining the economics for implementation. The proposed development team is a collaboration of United Properties, Greystar, Greco Real Estate Development, and Project for Pride in Living with each entity specializing in a key aspect of the development. The proposed L & H Station redevelopment represents a transit oriented, high density, mixed-use project combining market rate, affordable, and senior residential with office, commercial and a public neighborhood farmers’ market. It is through this combination of uses that the highest and best value will be established for the site and the surrounding community. Together with the team’s project consultants, all are committed to the project and will provide the resources to work closely with the School Board and the City of Minneapolis to establish the final site master plan for the proposed development uses and obtain the necessary approvals. The development team shares the vision to enhance this transit-oriented destination and activity center for the East Lake community. The implementation of the development is strengthened by the collaboration of the developers skills, resources, and special focus to create a multi-use, transit-oriented development. The team for this project is structured to address unique concerns and a variety of issues relevant to a project of this complexity.We see this project as a catalyst for continued development along the Hiawatha Corridor.We look forward to working with the Minneapolis School Board and the City of Minneapolis to create a successful project that brings additional value to the community. We appreciate your time and consideration and look forward to directly sharing our capabilities with the Minneapolis Public School Board.Thank you for this very exciting opportunity. Sincerely, Mark Nordland, Development Manager L & H Station Development, LLC
  4. 4. Development Program Proposed Master Plan for Development The L&H Station development master site plan illustrates an initial concept plan for the development to define the scale and density of uses. During the City entitlement phase, the design will be finalized to create a consensus design that accommodates the development program and the Corcoran comprehensive plan. Public Realm • The site design master plan is a collection of buildings, organized around two internal streets that divide the 6-acre site into three distinct areas for development. • The open space between the buildings provides public/private access courtyard areas to the buildings, grade level terraced units, visitor parking and site amenities. • The streetscapes along 22nd Avenue, 31st Street, and East Lake Street are designed to provide 15 to 30 feet of public pedestrian development for plantings, lighting and urban furniture and art. • The pedestrian movement patterns are re-enforced by the extension of 23rd Avenue and its related sidewalks through to the LRT station. The urban street patterns are reflected in the east/west connection through to 22nd Avenue S. • Market Square is an open plaza that will serve as the primary location for the Midtown Farmers Market. Its position immediately adjacent to the LRT platform willVisioning: Streetscape provide for wayfinding from Lake Street and a prominent location which will attract shoppers from not only the local community, but those passing through on the train.This location will also help to build upon the existing customer base and brand that the market currently has today. • The building heights step down from 6 stories on the north side of the site at Lake Street to 4 and 5 stories on the south end at 31st Street. Mixed-Use Transit Oriented Development Program The vision for the L&H Station development is a mixed-use, transit-oriented development that complements the adjacent retail and recreational uses with the addition of office and residential uses. The overall mixed-use development would potentially include 500 to 575 housing units, 80,000 square feet of office, and open space for at least 70 farmers market vendor stalls. Space for specialty retail is also included in the development. The vision for the type of mixed-use functions for the development includes the following: • Office rental space for medical, educational, or administrative tenants plus some street level specialty retail • Market rate rental housing in a mix of unit types and sizes with amenity space • Independent living senior housing with commons and amenity space for area residents • Special needs housing with support areas and related services • Affordable and work force housing with commons and amenity space Farmers’ Market Program Since 2003, the Midtown Farmers Market (MFM) has connected locally produced food and goods with 40,000 customers per season at 2225 East Lake Street on a surface parking lot owned by Minneapolis Public Schools. The MFM was conceived by local residents and is operated by the Corcoran Neighborhood Organization (CNO).The MFM currently operates one day a week from May to June, and two days a week from June through October. the MFM was a keystone element of the Corcoran Midtown Revival Plan (Plan), which calls for a mix of housing, retail/office, structured/ underground parking, and public open space.This citizen generated Plan was adopted by the City Council as part of the Minneapolis Plan in 2002 (http://www.ci.minneapolis.mn.us/cped/corcoran.asp).
  5. 5. Development Program The L&H Station concept master plan will be phased to allow for market and financing constraints. It is envisioned that the site improvements will finish the internal street extensions, thus defining the three parcels and allowing an orderly phasing of the site. After studying several site massing options, the attached site master plan illustrates the final vision for the development. PHASE IA Office Building 80,000 sq ft total (45,000 sq ft for MPS Welcome Center and Adult Basic Education Program) Average Lease Rate: $14-16 net/sq ft Retail/Commercial Space 20,000 sq ft Average Lease Rate: $24-28 net/sq ft Market Rate ApartmentsVisioning: Market Square 150 units Average Rents: Studio/Alcove: $ 950 1-bedroom: $ 1,100 2-bedroom: $ 1,300 400 stall Parking Structure with 100 existing surface spaces on the YWCA site PHASE IB Site infrastructure, utilities, public plaza, and farmers’ market PHASE IIA Senior Housing 90 units Average Rents: 1-bedroom: $ 860 2-bedroom: $ 1,040 PHASE IIB Market Rate Apartments 200 units Average Rents: Studio/Alcove: $ 950 1-bedroom: $ 1,100 2-bedroom: $ 1,300 Affordable Housing 60 units Average Rents: 1-bedroom: $ 650 2-bedroom: $ 850 3-bedroom: $ 975 PHASE III For Sale Townhomes 11 units Sale price:To be determined Affordable Rental or For Sale Housing 50 units Rents or Sale price:To be determined
  6. 6. Development Master Plan
  7. 7. Phasing Plan
  8. 8. Development Plans F A A G A B D E A MARKET RATE APARTMENTS B AFFORDABLE APARTMENTS E C RETAIL D FARMERS’ MARKET G E SENIOR APARTMENTS F OFFICE G PARKINGPERSPECTIVE VIEWS
  9. 9. Development Plans A E D C A B F G A A MARKET RATE APARTMENTS B AFFORDABLE APARTMENTS C RETAIL D FARMERS’ MARKET E SENIOR APARTMENTS F OFFICE G PARKINGPERSPECTIVE VIEWS
  10. 10. Project Goals and ApproachCurrent Site ConditionsThe 2225 East Lake Street site presents a unique opportunity to redevelopment 6-1/2 acresof land immediately adjacent to the Light Rail Transit station.The site was formerly home toBrown Institute and a MPS charter school. The site is currently underutilized and reflectsthe established "suburban" land use patterns of the larger Hiawatha-Lake area, where largesurface parking lots (e.g.Target, Cub stores, Hi-Lake Shopping Center) attract motorists withvirtually unlimited surface parking. This pattern stands in sharp contrast, however, to thedense, urban, transit-oriented land use pattern that is coming to the Project Area.2225 East Lake Street: a master plan for redevelopmentThe proposed Lake & Hiawatha Station (L&H Station) development is a mixed-use resi-dential, civic and commercial project to be developed on the site. 2225 East Lakerepresents the best and largest opportunity for transit-oriented development in southMinneapolis and such use will promote growth and quality of life in the East Lake Street /Midtown area. The development is a mixed-use, high-density project which will be thehighest and best value for the development of the site from a community and urbanplanning standpoint. This development master plan recognizes and leverages the strongexisting assets at or near 2225 East Lake, and reinforces the sites value as a civic and regionaldestination. This master plan also represents the highest and best revenue opportunity forowner and prospective seller Minneapolis Public Schools (MPS).The L&H Development team and its project consultants are committed to the project andwill provide the resources to work closely with the Corcoran Neighborhood Organizationand the City to establish the site master plan for the proposed development uses. Thedevelopment will be consistent with the shared neighborhood-city plan and the City ofMinneapolis goals for transit-oriented development.At this time there are many design options and financial issues which lie ahead for theproject. The best solutions for these issues will come from a joint effort of the City ofMinneapolis, the Corcoran Neighborhood Organization, the Minneapolis Public Schoolsboard and the skills of the development team. Minneapolis Public Schools has indicated itwill retain a permanent presence at 2225 East Lake with its citywide Welcome Center andAdult Basic Education operations.The development team is hopeful that when MPS transi-tions from being a property owner to becoming a tenant, this will result in greater financialresources to support the future office building development on the site.Corcoran Midtown Revival Plan: the shared neighborhood-city planThe citizen-generated Corcoran Midtown Revival Plan-amended to the Minneapolis Plan byCity Council Vote in 2002-calls for a transit-oriented mix of housing, retail/office, and openspace to accommodate a farmers market and other public uses. The CorcoranNeighborhood Organization (CNO) expects a continuing partnership of public and privateinitiative to develop the area.
  11. 11. Project Goals and ApproachL&H Station Development Team intends to partner with CNO and the City for the masterplan of the development. As defined in the shared neighborhood-city plan, specific projectgoals for development are as follows: • Concentrate building height at the Lake Street area next to the LRT station for rentaland condominium housing with views to Downtown, and step down in scale to meet theexisting residential blocks south of 31st Street. • Structured or below-grade parking to support inviting, higher density retail along LakeStreet for people arriving by car and rail. • Zero or limited setbacks, articulated and active Lake Street storefronts and highquality building materials that will create an inviting, attractive, and pedestrian-friendly public realm. • Active streetscape, lighting, graphics, signage, landscaping, street furniture, and openaccessible development features for an inviting development. • Shared-use public space that will accommodate an outdoor farmers market and drawcustomers from surrounding communities, with visual and physical connections to the lightrail station and neighborhood thoroughfares. • Plaza and tree lined streets to create an open development that connects theneighborhood to the south with the LRT station. • A public parking facility to support parking and yet preserve open green space andpedestrian outdoor spaces.Farmers’ Market and shared public space conceptThe master plan proposed herein includes a farmers market as a key usage at the L & HStation Development, in keeping with the shared neighborhood-city plan. Since 2003, theMidtown Farmers Market has connected locally produced foods and goods with 40,000+annual customers at 2225 East Lake in partnership with Minneapolis Public Schools through ano-cost lease agreement. Strong community support for the market-a reflection of the strongcivic engagement within the surrounding neighborhoods-enhances the urban community,generates small business opportunity and therefore enhances the residential community.Thedevelopment team will work with the Midtown Farmers Market to integrate and enhance theusage of the market in the design of the public area and provide related support space.
  12. 12. Project Goals and Approach Community Engagement Beginning in November of 2009, a task force of the Corcoran Neighborhood Organizations Land Use and Transportation Committee began a focused series of meetings with the Lake & Hiawatha Station Development team members to generate ideas and goals for the future of the 2225 East Lake Street site . The development team and Corcoran residents have similar shared goals and imagine senior, affordable, and market-rate housing, office and retail space, public open space including the Midtown Farmers Market, and structured parking - both below-grade on the site and within a shared ramp off site. Stakeholders for the project include residents, area business owners, the Corcoran Neighborhood Organization, the YWCA, the City of Minneapolis, the Midtown Farmers’ Market, and elected officials at the City, County, and State levels.The L&H Station develop-Community Meeting ment team will continue to reach out to all stakeholders and meet on a regular basis to ensure that the master plan for 2225 East Lake Street meets the goals of all stakeholders. Adjacent Redevelopment Sites Transit-oriented development projects are underway on two adjacent vacant or underutilized land parcels at the southwest corner of Hiawatha and Lake: 1. Clare Housing has broken ground on 45 (3 stories with underground parking) units of supportive housing for people living with HIV/AIDS at the 1-acre site at 3105 23rd Avenue South. 2. Wellington Management received preliminary neighborhood support in February 2010 for a concept plan involving 100-130 units (4 stories with underground parking) of affordable housing on the 2-acre parcel at 3100 Hiawatha Avenue. Midtown YWCA Immediately to the west of the MPS site, the existing Midtown YWCA and Minneapolis Sports Center are at full capacity in terms of demand for memberships and member parking. A surface lot provides free user parking, but the adjacent MPS lot serves as unofficial overflow parking. Conversations about adding parking capacity at the Midtown facility continue at an executive level of the YWCA organization.Master Plan Evolution Existing Assets that reinforce the sites regional identity The Corcoran neighborhood - an active, diverse, stable and affordable place to live, work and raise family. Hiawatha Light Rail Line - Midtown/Lake Street Station at the northeast corner of the development site. 20,000 riders daily. Midtown YWCA and Minneapolis Sports Center - with over 12,000 members and approximately 2,000 visitors daily. The Midtown Farmers Market-currently in its eighth season drawing 40,000 annual customers to 70+ vendors. MPS Welcome Center, Community Education, and Adult Basic Education - operations remaining at 2225 East Lake, drawing visitors from Minneapolis and the region.
  13. 13. Project Goals and Approach South High School - located within two blocks of the site, with 2,000 high school students and historically strong academic performance. Midtown Greenway - bikeway with regional connections including Sabo Bridge over Hiawatha Avenue located just blocks from the site. 3,000 riders daily. Lake Street - includes strong, established retail and dining adjacent to Lake and Hiawatha including Target and major grocers. Minneapolis Police Department 3rd Precinct Headquarters-just opposite Hiawatha Avenue. Phillips Eco-Enterprise Center (PEEC) and ReUse Center - The Green Institute is a leader in the green building movement. Designed as a “living experiment,” the Phillips Eco- Enterprise Center continues to be analyzed on a cost savings and energy usage basis while housing the activities and operations of The Green Institute and tenant organizations. TheCorcoran Neighborhood ReUse Program sells salvaged building materials and green product lines, diverting an estimated 400 tons of reusable building material from landfills every year. Shared Parking Strategy Parking for all the uses is envisioned to be a shared mixed-use parking plan.The development functions will include below-grade parking per building, limited surface and shared parking in a public parking ramp. The amount of parking shall comply with the market demands, City requirements and will likely result in less parking and more support for LRT usage. The adjacent Midtown YWCA and Minneapolis Sports Center facility provides a critical element of community identity and service delivery for the development.The comprehensive plan concept of public parking expansion as shown at the YWCA is a critical support function for the proposed L&H Station community. In addition, the L&H master plan proposes a liner housing concept at the proposed parking deck, which would mitigate aesthetic impacts of the deck on the neighborhood, restore both sides of 22nd Avenue to a pedestrian-friendly orientation, and could help fund a shared parking solution in partnership with the YWCA and other stakeholders.Midtown YWCA Continued discussions are needed with YWCA administration regarding opportunities to construct a new parking garage on the YWCA site.The initial studies of the garage show liner housing wrapping the garage on the east and south sides. Connectivity The site master plan design will allow for public and private pedestrian movement through the site. The open space plan and building massing will support the building context and fabric of the area. It will support the security of the residents and yet connect the development to the surrounding community. As part of the master plan, 23rd Avenue will continue north past 31st Street and connect through to 22nd Avenue.The internal streets of the development divide the site into three distinctive parcels and also define the open space for the farmers’ market.The overall flow of the site supports the movement pattern of pedestrians from the neighborhood to Lake Street and to the LRT station.
  14. 14. Project Goals and Approach Geo-technical and Environmental Issues Based on our review of the geo-technical report provided by CPED, it is our understanding that there are no significant environmental concerns regarding the soil or ground water on the site.The development team will perform additional environmental testing to ensure that all parcels are safe for development and that all necessary studies have been completed prior to demolishing the existing structure or excavating for new construction. Sustainable Design and Development L&H Station Development intends to create a sustainable environment that will be a benchmark for urban living at a TOD location. The L&H team has reviewed the Sustainability Statement prepared by the Corcoran Neighborhood Organization and will strive to meet the perform- ance goals as they relate to energy, construction waste, stormwater management, transportation, and landscape design. The development will accommodate bikes, LRT, bus, cars, and car share programs. Additionally, every effort will be made to support live/work uses, local services, and local business development so that the L & H Station can be a self-sustaining community. We recognize the positive impact that environmentally-sensitive buildings will have on the people who live, work and visit the L&H Station Development. Residents and visitors will benefit fromThe Midtown Greenway the amenities offered by the site and the buildings.The design team will incorporate sustainable design principles to reduce operating costs, lower energy consumption and guarantee that his development is an example of environmental responsibility.Sustainable Design Strategies
  15. 15. Development Timeline and ProformaAs described earlier, L&H Station Development, LLC proposes a phased approach to thesite development and purchase. While our proposed timeline is aggressive, we believe thatit is important to move at a quick and consistent pace in order to keep all constituenciesfocused on the complex project.Proposed Timeline:PROJECT PLANNING/APPROVALSNovember 1, 2010: Submit RFP ResponseJanuary 1, 2011: L&H Station Development, LLC selected as site developerJanuary - April, 2011: Negotiate details of land purchase, phasing, zoning, site plan, fundingsources, farmers market/public space, parking structure with CPED and MPSMay - August, 2011: Entitlement and funding source approvals, physical due diligencePHASE IASeptember - October, 2011: Close on Phase I site acquisition and commence constructionof 80,000 square foot office building, 150 units of market rate apartments and 400 stallparking structure on the YWCA site.PHASE IBSummer, 2012: Commence and complete construction of infrastructure and publicplaza/farmers’ market.PHASE IIAFall 2012: Close on Phase IIA site acquisition and commence construction of 90 unitsenior housing project.PHASE IIBSummer 2013: Close on Phase IIB site acquisition and commence construction of 200 unitsof market rate apartments and 60 units of affordable housing.PHASE IIISpring 2014: Commence and complete construction of 11 units of liner housing - a for saletownhome project to screen the shared parking ramp. Potential acquisition of the existinghomes at 22nd Avenue and 31st Street for a second phase of 50 units of affordable rentalor for sale housing.
  16. 16. Development Timeline and ProformaAcquisition Price$7,000,000 or $24.80/sf for 6.48 acresLand acquisition will occur in three phases:Phase IA: Fall 2011 - $3,500,000Phase IIA: Fall 2012 - $900,000Phase IIB: Summer 2013 - $2,600,000Development EconomicsThe respective developers for each functional component of the proposed project cansupport and will pay the land acquisition costs outlined above and further detailed in thechart below. In addition to the acquisition cost, however, the proposed project will require$4 million for roads, utilities, infrastructure, demolition and public space/farmers marketcosts. L&H Station Development, LLC shall seek funding for these costs through multiplesources including TIF, Grants,TOD Funds, etc. Finally, we propose that the City of Minneapolisassist in the financing of a 400 stall parking structure on the current site of the YWCA/MPLSSports parking lot that will serve those facilities as well as our proposed new development.See enclosed detailed chart which indicates the proposed phasing, land cost allocations andtotal project values.
  17. 17. L&H Station Development ProposalPhase IA Developer Start Land Allocation Land Price Estimated Value Total ValueMarket Rate Mulit-Family Greystar 150 units Fall 2011 $ 10,000 per unit $ 1,500,000 $140 - 160,000 per unit $21 to $24 millionOffice United Properties 80,000 sf Fall 2011 $ 25 per sf bldg $ 2,000,000 $125 - 150 sf $10 to 12 millionParking Structure Minneapolis 500 stalls Fall 2011 $ - $ -Phase IB Developer Start Land Allocation Land Price Estimated Value Total ValuePublic Space/Farmers Market L&H Development, LLC Summer 2012 $ - $ -Phase IIA Developer Start Land Allocation Land Price Estimated Value Total ValueSenior Housing Greco/CommonBond 90 units Summer 2013 $ 10,000 per unit $ 900,000 $140 - 160,000 per unit $12.6 to 14.4 millionPhase IIB Developer Start Land Allocation Land Price Estimated Value Total ValueMarket Rate Housing Greystar 200 units Summer 2013 $ 10,000 per unit $ 2,000,000 $140 - 160,000 per unit $28 to 32 millionAffordable Housing PPL 60 units Summer 2012 $ 10,000 per unit $ 600,000 $120 - 140,000 per unit $7.2 to 8.4 millionTotal Land Cost $ 7,000,000Total Project Value $78,800,000 to $90,800,000Land Development CostsPhased Purchase from MPS $ 7,000,000Farmers Market/Public Plaza $ 1,500,000Demolition/Stie Prep $ 500,000Roads/Utilities/Infrastructure $ 2,000,000Total $ 11,000,000Funding SourcesDevelopers Purchase Price $ 7,000,000TIF/Grants/TOD Funds/Etc. $ 4,000,000Total $ 11,000,000
  18. 18. Development Team The L&H Station development group structure is defined as illustrated in the attached organization chart.The basic structure brings together four development entities each with specific experiences and qualifications to complete the L&H Station development vision and the Corcoran neighborhood comprehensive plan. In support to the development entities is a team of consultants equally experienced in design, law, marketing and environmental aspects of the development creation. The L&H Station Development, LLC, under the leadership of Mark Nordland as the development manager, is a development collaboration that will implement the redevelopment plan with the Corcoran Neighborhood Organization and the City of Minneapolis.The L&H Development team collaborative effort will execute the overall master plan for the devel- opment and each individual entity shall purchase and develop individual parcels of the plan. CorcoranCity of Minneapolis Neighborhood Organization D E V E LO P M E N T Mark Nordland Development Manager DEVELOPMENT ENTITIES United Properties Greystar William Katter Kevin Kaberna Greco Real Estate PPL Arnie Gregory Steve Cramer DEVELOPMENT CONSULTANTS DESIGN MARKET BKV Group Joe Urban Jack Boarman Sam Newberg LEGAL TRAFFIC/CIVIL Faegre & Benson RLK, Inc. John Herman Aaron Hemquist
  19. 19. L&H Development, LLC L & H Station Development is a master development organization formed by a consortium of top tier developers to redevelop the 6.48 acre site located at 2225 E. Lake Street in Minneapolis. L & H, lead by Mark Nordland as the master development manager, combines the resources of best-in-class developers in office, market rate, affordable and senior housing to create a transit-oriented, high density mixed use project. The unique opportunity created by a large site at a light rail station with an active and sup-A Limited Liability Corporation portive neighborhood caused this group to form as a master developer. The goal of the entity is to coordinate the site planning, approval, land acquisition and site development 222 North 2nd Street required for the residential, commercial and civic project to proceed. Because no one com- ponent of the development took a majority of the site, it was determined that the best way Minneapolis, MN 55401 to proceed was as a group. Phone: 612.812.7020 Fax: 612.339.6212 L & H Station Development Members: Mark Nordland - Development Manager United Properties - Office Greystar Property Development - Market Rate Housing Greco Real Estate Development - Senior Housing Project for Pride in Living - Affordable Housing BKV Group - Design Faegre & Benson - Legal Urban Joe - Market Research RLK, Inc. - Civil and Traffic Engineering In addition to the members above, we believe that the MPS, Corcoran Neighborhood Organization, Midtown Farmers’ Market,YWCA, City of Minneapolis and other stakeholders are all part of our team with a common goal of maximizing the development potential of the site.
  20. 20. Team Resumes Mark Nordland L&H Station Development, LLC: Development Manager Mark Nordland has 15 years of commercial real estate experience and has been involved in the development of more than $750 million in projects. From 2006 - 2010, Mark co-lead Ryan Companies Minnesota Region development team in developing more than $500 million in projects — $185 of which he personally developed. Nordland received his bachelor’s degree in economics and government from LafayetteEducation College in Pennsylvania. Before joining Ryan, he served as director of industrial developmentLafayette College at CSM Corporation and as an industrial broker at Welsh Companies. Nordland is a Bachelor of Arts, Economics and Government Certified Commercial Investment Member (CCIM), and also belongs to the National Association of Industrial and Office Properties (NAIOP) and the Minnesota CommercialProfessional Experience Association of Realtors (MNCAR). Mark was the co-chair of Ryan’s United Way CampaignVice President of Development Ryan Companies; 2006 - 2010 in 2008 and has volunteered with A Chance to Grow and Catholic Charities.Director of Development CSM Corporation; 1999-2006 In 2010, Mark received The Minneapolis/St. Paul Business Journal’s “40 Under Forty” awardBroker recognizing the region’s up-and-coming business and community leaders. Selections are based Welsh Companies; 1996-1999 on each individual’s professional achievements and commitment to community service.Professional AffiliationsCertified Commercial Investment Relevant Experience Member (CCIM) Cargill, 30,000 SF Corporate Office, Omaha, NEOfficer and Board Member, National Association of Industrial and LDI/SAFCO, 302,016 SF Distribution Center, Windsor,VA Office Properties (NAIOP) US Bank Data Center, 138,800 SF Tier III, Olathe, KSMinnesota Commercial Association of Toro, 350,000 SF Distribution Center,Tomah, WI Realtors (MNCAR QLogic Corporation, 100,074 SF, Corporate Office, Shakopee, MNAwards and Recognition Dean Lakes, 276-acre Mixed-useTechnology Development, Shakopee, MN2010 Minneapolis/St. Paul Business Transoma Medical, 118,500 SF, Office/Laboratory/Clean Room, New Brighton, MNJournal’s “40 Under Forty” top executives The Hartford, 130,000 SF, Corporate Office, New Hartford, NYSix NAIOP Awards of Excellence2008 Best in Real Estate from 610 Business Park, 59-acre, Mixed-use Development, Brooklyn Park, MN MSP Business Journal New Brighton Commons, 57,980 SF, Industrial, New Brighton, MN Crystal Bay Business Center, 18-acre, Office,Warehouse, and Office Showroom, Orono, MN Lexington Preserve Business Park, 140 Acres, 850,000 SF, Blaine, MN The Waters Corporate Campus, 80-acres, Eagan, MN Westgate Business Park, 450,000 SF, St. Paul, MN Aveda Worldwide Distribution Center, 126,000 SF, Blaine, MN “Mark has become one of the top developers in Minnesota. Whether he is putting together a development, leading our United Way Campaign or presenting at an industry event, he puts 100% into everything he does, and he always gets results.” - Collin Barr, President, Minnesota Region, Ryan Companies US, Inc. “
  21. 21. ReferencesMark Nordland References:US BankContact: Bob EversonConstruction and Design Manager2800 East Lake StreetMinneapolis, MN 55406612.728.8450Cargill, Inc.Mike Lewis1705 Kellie DriveBlair, NE 68008402.533.4117mike_lewis@cargill.comThe HartfordTroy RiccitelliDirector, Workplace ResourcesHartford PlazaHO-2-18Hartford, CT 06115860.547.5501troy.riccitelli@thehartford.comData Sciences International (DSI)Charlie CogginChief Financial Officer119 14th Street NWNew Brighton, MN 55112651.481.7422ccoggin@datasci.com
  22. 22. United Properties United Properties is a leader in commercial real estate development and investment. We develop multiple product types including office, industrial, retail, multi-family, healthcare and senior housing. In addition to our large presence in the Minneapolis-St. Paul market we have expanded into Wisconsin and Colorado. Development United Properties has been developing quality projects for many years and has long been Investment recognized as a premier developer in the Twin Cities regional market. 3500 West American Boulevard By combining market knowledge, entrepreneurial talent, financing options and anSuite 200, Minneapolis, MN 55431 understanding of the governmental approval process, we are able to provide you with a Phone: 952.835.5300 comprehensive plan for your project. We will focus on your specific needs and manage all aspects of your development, including www.uproperties.com site selection and acquisition, design and engineering, contractor selection, municipal and other governmental approvals, as well as financing. We can also customize our solution to provide only the services you need. United Properties provides creative real estate solutions to its clients. As one of the top regional development companies, United Properties goes well beyond the basics, offering one of the most flexible and comprehensive programs. Trust our experience with your unique requirements. Our process includes: • Site selection • Due diligence • Site acquisition • Design/Engineering • Sustainability • Consultant/vendor selections • Government entitlement approvals • Construction • Financing/Leasing • Marketing/Promotion • Facility management/Consulting The company is organized into business units that offer services in the following areas: DEVELOPMENT Comprehensive development services for all types of development including office, industrial, retail, medical, residential and mixed-use projects. INVESTMENT Direct principal investment, joint ventures and asset management for all types of commer- cial property.
  23. 23. Team Resumes William P. (Bill) Katter United Properties: Senior Vice President-Investment and Development As a senior vice president in the Development Department, Bill’s responsibilities include office, medical office, retail and industrial development and investment in the Twin Cities market. In that role, he oversees land acquisition and entitlement, selection of contractors, leasing efforts on development projects and the capitalization of office/industrial investments and developments. He is also responsible for new investment into office, medical office and industrial assets for United Properties investment portfolio.EducationUniversity of Minnesota Bachelor of Arts in Humanities Past Experience Before joining United Properties, Bill was director of real estate equities for Thrivent FinancialRegistration for Lutherans from 1994-2003. In that role, he oversaw the acquisition, disposition and assetMN Licensed Real Estate Salesperson management of all Thrivent’s investment properties located across the U.S. Bill began hisProfessional Affiliations career in real estate in 1989 with Welsh Companies as a property manager.National Association of Industrial andOffice Properties(NAIOP) Professional and Community InvolvementBuilding Owners and ManagersAssociation (BOMA) Bill is a member of the National Association of Industrial and Office Properties (NAIOP) and obtained his Real Property Administrator (RPA) designation through the Building Owners and Managers Association (BOMA). Relevant Experience 8200 Tower at Normandale Lake Office Park, Bloomington, MN CH Robinson Worldwide Corporate Headquarters, Eden Prairie, MN Ford Center Historic Renovation, MInneapolis, MN Coloplast Corporation, Minneapolis, MN Centennial Lakes Mixed-Use Development, Edina, MN
  24. 24. ReferencesUnited Properties References:City of Eden PrairieDavid LindahlCommunity Development Director8080 Mitchell RoadEden Prairie, MN 55344952-949-8300City of BloomingtonGene WinstedMayor1800 West Old Shakopee RoadBloomington MN 55431952-563-8700Nelson,Tietz & HoyeRuss Nelson81 South 9th Street, Suite 330Minneapolis, MN 55402612-359-3200
  25. 25. Relevant ExperienceNormandale Lake 8000 Tower/TIAA-CREFBloomington, MNTIAA-CREF owned a vacant 4.1-acre site within Normandale Lake Office Park.The vacant land was located among three other officebuildings that were fully occupied, and the park needed to expand to accommodate the growth of existing tenants or risk losing thosetenants to newer properties under construction. Real estate development is outside TIAA-GREFs core business focus, and thecompany was reluctant to commence a speculative office development. United Properties reputation as a developer along with itsexisting property management and ieasing relationship with TIAA-CREF gave TIAACREF confidence that United Properties couldsuccessfully deveiop the property.United Properties persuaded anchor tenants in the existing buildings to expand into the proposed new building instead of moving toa new location. Once 40 percent of the new building was pre-leased, TIAA-CREF allowed construction to begin. In the late 1990s,when the building was being designed, the look of office buildings was moving away from reflective blue glass to more pre-caststructures. The three existing buildings in Normandale Lake Office Park were constructed with blue glass. To meet new designstandards but also blend with the existing structures, the new building - the 8000 Towerwas given a blue glass exterior, instead of apre-cast facade, and the interior was designed to be more contemporary.As a result of United Properties efforts, the 8000 Tower was 90% pre-leased by the time the building opened in 2001 The new buildingprovided a long-term home for key tenants by providing room for those tenants to expand without leaving Normandale Lake OfficePark.TIAA-CREF increased its cash flow from the property by turning a non-performing asset into a revenue generating property. Netoperating income now exceeds $4 million per year on what was a vacant parcel of land. In addition, the 8000 Tower was recognizedby the commercial real estate industry as an outstanding office property in 2001 when it received the Award of Excellence from theNational Association of Industrial and Office Properties (NAIOP).
  26. 26. Relevant ExperienceCentennial Lakes Mixed-Use DevelopmentEdina, MNCentennial Lkes is a world-class mixed-use development located in Edina, Minnesota. The innovative design of the project has set anew standard for mixed-use development worldwide.United Properties took control of a former gravel pit through a contract for deed in 1988 and sought to redevelop the Edina,Minnesota, site as a mixed-use property. By coordinating a design that incorporated retail, entertainment, residential and office spaceas well as park land, United Properties was able to obtain city approval for the 100-acre proposed development.United Properties coordinated the efforts of the City of Edina and four private developers to design and complete a project thatwould serve as an economic hub and community gathering place as well as a convenient service center for the thousands of peoplewho would live and work within the site United Properties developed nearly one million square feet of Class A office space on thesite.The company also sold parcels of land to facilitate the development of the retail, medical and residential townhome portions ofthe project and acted as a joint developer of the Centennial Lakes Village Homes condominiums.Construction of the project began in 1988 and was completed in 2000.The development includes five office buildings with nearly onemillion square feet of Class A office space, more than 30 retailers and restaurants, a theater complex with eight screens, a medicaloffice building, a full-service hotel, a condominium complex, a child care center and a fitness center.Walking paths connect the 25-acrecommunity park at the center of the development to the office buildings and retail plaza.As the developer of Centennial Lakes, United Properties has set a new standard for highquality mixed-use development worldwide.Centennial Lakes has been nationally recognized as a premier mixed-use development and its office buildings have won the NationalAssociation of Industrial and Office Properties (NAIOP) Award of Excellence numerous times. What was once gravel pit is now oneof the most respected mixed-use developments in the Twin Cities.
  27. 27. Relevant ExperienceColoplast CorporationMinneapolis, MNColoplast needed to rapidly relocate its U.S. headquarters to Minneapolis. Coloplast selected NorthMarq to help the company alignits real estate with its business strategy and manage all of its real estate in the United States. The existing Minneapolis campus,previously owned by Mentor, presented several challenges. To fully accommodate Coloplast’s needs, the company also needed toacquire additional land around the site.NorthMarq determined Coloplast’s facility needs and developed several real estate alternatives. Working with the Coloplast steeringcommittee to ensure the company be operational quickly, NorthMarq relocated the healthcare manufacturing operations into a vacantclean room facility that required minimal renovation. After negotiating the lease, NorthMarq managed the design, build-out and moveinto the 90,000-sq.- . facility in just three months. NorthMarq also secured a 42,000-sq.- . sublease space in downtown Minneapolis tohouse the company’s U.S. sales and marketing divisions, saving Coloplast approximately $1 million, compared with the initialrecommendation by another firm.NorthMarq executed cost-e ective solutions that enabled Coloplast to consolidate its U.S. headquarters on the original site of MentorCorporation. NorthMarq navigated di cult and lengthy governmental approval processes and obtained more than $9 million ingovernmental incentives while ensuring that the project met Coloplast’s desire for a distinctive building and campus that utilizedsustainable design principles. Coloplast’s new campus includes a 100,000-sq.- ., ve-story, Class A o ce tower and 40,000sf of researchand development space. The existing research, development and sterile manufacturing space will be remodeled to provide greater exibility for added research and development functions, new product introduction and surgical manufacturing products.
  28. 28. Relevant ExperienceFord CenterMinneapolis, MNFord Centre, an historic landmark within the Minneapolis warehouse district, will be renovated into a state of the art Class A officebuilding that incorporates leading sustainable design features while retaining all of the unique and dynamic characteristics of warehousedistrict style architectural experience.The most significant and distinguishing characteristic of Ford Centre - its dramatic windowline -will be restored with newer, more energy efficient windows while preserving the intricate original design.Upon renovation, Ford Centre will be the jewel of the Warehouse District, setting the new standard for renovated historic officeproperties in the Twin Cities.The renovated building, located at the nexus of Twin Cities rail transit and adjacent to the new MinnesotaTwins ballpark, will provide the most exciting work environment in the marketplace.When fully renovated, Ford Centre will have 10 stories of office and commercial space containing approximately 265,000 rentablesquare feet.The lower level of the building will contain approximately 25 stalls of executive parking, a building common fitness center,and showers/changing rooms. The fitness center will be located in the former train shed area of the building that has 18 foot ceilingheights and whose windows oversee the Minneapolis skyline.The main level of the building will feature a grand hallway, also with 18 foot ceiling heights, and exposed columns that display the orig-inal building architecture.This grand hallway will connect the buildings visitor parking arrival area (on the North side of the building)to the 5th Street front door entrance of the building, and will be constructed with materials that are consistent with the period inwhich the building was originally constructed.The 5th Street entrance will be recreated to simulate the historic entrance to the build-ing and will connect pedestrians and users of Light Rail Transit with the building core.
  29. 29. Greystar Greystar was founded in 1993 with the intent to become a provider of world-class service in the multifamily real estate business. Our innovative business model integrates the management, development and investment disciplines of the multifamily industry on both national and local levels.This unique approach and our commitment to hiring the very best multifamily professionals have resulted in record growth, making us one of the most respected and trusted multifamily real estate companies in the country. Property Development DEVELOPMENT PLATFORM18 Broad Street - 3rd Floor • Identify and execute on multifamily developments that produce the best risk adjusted Charleston, SC returns in the industry Main: 843.579.3229 • Establish a commitment to quality that emanates throughout our organization Mobile: 843.991.2616 • Leverage fully integrated operating platform to provide professional guidance from concept to completion • Be responsive to the changing demands and characteristics of the communities in which www.greystar.com we build Property Management Development Provides property management services for Provides development and general contracting all asset types: Affordable Tax Credit, services for all multifamily product types in all Conventional, High-Rise, HOA / Fractured phases of development including due diligence, Condo, Lender-Owned, Senior, and Student. capitalization, design and construction, and quality control. Asset Solutions Capital Project Services Provides asset strategy execution leveraging Performs physical due diligence including life- the services of the organization designed to safety and immediate repairs asssessments, maximize equity returns, with robust asset executes major capital projects, and level and portfolio reporting and valuation completes both preventative maintenance services. and capital needs recommendations. Investment REO Services Acquires and operates existing multifamily Coordinates execution of all multifamily properties in major markets focusing on well services from initial legal appointment to asset located, institutional quality assets where stabilization and disposition and dedicates Greystar can add value through strategic, REO experts at each asset while leveraging operational, and physical enhancements. relationships with local municipalities. CLIENTS AND PARTNERS
  30. 30. Team Resumes Kevin Kaberna Greystar: Principal Kevin Kaberna, a Principal with Greystar Real Estate Partners, is responsible for multi-family investments in the central United States. Prior to joining Greystar in 2006, Kevin was a Senior Consultant with Ernst & Young’s Financial Services Advisory Group. Originally an auditor, Kevin holds his CPA license in the state of New York. He also has experience as an acquisitions associate with The WoodsideEducation Group, a nationwide residential home builder/developer.Harvard Business School Master of Business Administration Relevant ExperienceUniversity of South Dakota Estate on Quarry Lake - Austin,TX Masters in Professional Accountancy Museo - Austin,TX B.B.A. in Accounting Kirby Place - Houston,TX Creekstone - Houston,TX Shadows at Cottonwood - Dallas,TX Lakewood on the Trail - Dallas,TX Broadstone at the Ranch - Denver, CO Sunset View - San Diego, CA Derek Brown Greystar: Senior Director of Development Derek is a Senior Director of Development for Greystar and is responsible for site selection, underwriting, capitalization and execution of new development opportunities. Prior to joining Greystar, Mr. Brown was an Acquisitions and Development Associate at Tishman Speyer in Chicago where he led an effort to establish a high rise residential development business, and was directly involved in the acquisition of over 1.4 million square feet of office.EducationUniversity of Texas BA - Economics Partial Relevant ExperienceThe Kellstadt School at DePaul University Beacon Lakes (360 units), League City (Houston),TX MBA in Real Estate Investment and South Congress Apartments (306 units), Austin,TX Finance SoCo Lofts (69 units), Austin,TX Red River Flats (120 units), Austin,TX
  31. 31. ReferencesGreystar References:Prudential Real Estate InvestorsJim Mehalso2 Ravinia Drive, Suite 400Atlanta, Georgia 30346(770) 395-8641pjames.mehalso@prudential.comThackeray PartnersTony Dona5207 McKinney, Suite 200Dallas,TX 75205(214) 360-7833td@thackeraypartners.comGE Commercial FinanceBruce Bardgett16479 Dallas Parkway2 Bent Tree Tower, Suite 600Addison,TX 75001-2512972-728-7525Bruce.Bardgett@gecapital.com
  32. 32. Relevant ExperienceRed River Flats - Austin, TXSouth Congress Apartments - Austin, TX
  33. 33. Relevant ExperienceGrand Reserve - Dallas, TXDaniel Island Village - Charleston, SC
  34. 34. Relevant ExperienceCypress VillageCypress, TXIn collaboration with a retail developer and the local transit authority, Greystar developed theresidential component of a transit oriented mixed-use development in suburban Houston.Cost savings from a shared parking facility made air conditioned corridors, elevators and otherhigher density community amenities feasible at rental rates comparable to surroundingapartments.Project Highlights • Worked with Houston Metropolitan Transit Authority and NewQuest retail group to develop functional site plan. • Arranged construction financing on a 3-tiered ground lease. • Onsite parking garage is scuccessfully shared by all three site uses to create a fully- intergrated, economical project. • Cost savings from the shared garage allowed for two courtyards including an oversized pool, outdoor kitchen, putting green, barbeque areas, volleyball court and a running track. Completed construction ahead of schedule. • $970K construction budgut save. • Stabilized project in 11 months from first unit turnover
  35. 35. Relevant ExperienceWest End Ranch ApartmentsSugarland/Houston, TXFor apartment development, Greystar targets sites with proximity to employment, strongmarket fundamentals and barriers to future supply. Greystar then combines cost efficient buildingtypes with detailed input from our local management operators to deliver communities thatbest meet market specific demand resulting in development projects with the highest riskadjusted returns.Project Highlights • First units delivered ahead of schedule; construction completed on time • $1.7M project cost savings • Successfully coordinated between construction and property management to tie building turnover to lease up schedule • 96% occupied within 10 months from first turnover
  36. 36. Firm IntroductionSeneca at Cypress CreekTampa,FLProject Highlights • Worked with municipality and successfully rezoned land while under contract • Estimated completion - July 2010, 2 months ahead of schedule • Anticipated total project savings of 10% • Average absorption of 26 units per month to date
  37. 37. Greco, LLC At GRECO, LLC our intent is to create an innovative, superior product in and for an array of markets including senior living, market rate rental and for sale housing.We have learned that by offering a unique product, we will serve that portion of the market that places a premium on alternative design, architectural detail, environmental planning, and a commitment to complete quality. Property Development Our local presence and extensive experience affords us the insight to consistently recognize subtle market changes, identify premier sites, and craft outstanding developments that meet129 North Second St., Ste 100 the creative, alternative housing needs of todays and tomorrows dynamic population. A Minneapolis, MN 55401 portfolio of successful projects illustrates our commitment to urban redevelopment, and our Phone: 612.630.2450 belief in supporting the cause of general metropolitan revitalization. Fax: 612.630.2453 At Greco Property Management, we believe every building has its own culture. Whether managing a senior community, an upscale complex in Uptown, or an affordable three-story www.grecollc.com project in the suburbs, we custom-fit our staff and services for you and your residents’ peace of mind. Greco is a large-scale class A & B property management and administration organization. We know the landscape.Through special programs and on-site events our friendly concierge staff help residents bond with their community. Our vigilance and energy produces the cachet you set out to establish the day you broke ground. Greco matches unique solutions to challenging properties. Our web-based accounting software allows “real-time” reporting. And our interactive website facilitates resident services such as credit card & automatic payments, service requests, applications, lease signings, renewals and more. SOLUTIONS • On-site Management • Building Maintenance • Lease-up Marketing • Accounting and Financial Reporting • Motivational Leasing Training • Value-added Renovations MAINTENANCE • Preventative • Clean, never messy • Earth-friendly • Comprehensive • Level-headed
  38. 38. Team Resumes Arnie J. Gregory Greco: Owner Owner of GRECO, LLC a real estate development firm located in Minneapolis, MN. GRECO is a full service real estate firm that presides in development, management and leasing of residential and commercial real estate. Mr. Gregory is responsible for the day to day opera- tions as well as seeking out and identifying development opportunities, site acquisitions and placement of equity and debt. GRECO projects range from multi-family residential to com- mercial and total in excess of $100 million of value.EducationUniversity of North Dakota Business with concentration in BackgroundFinance • Previous to GRECO, Mr. Gregory was an equal owner in HuntGregory, a real estate development firm. While at HuntGregory the firm was responsible for developingProfessional Affiliations over 500 condominium units along with 400 rental units, 40,000 square feet of retailUrban Land Institute (ULI) and 50,000 square feet of commercial office space in downtown Minneapolis. TotalMN Multi Housing Association (MHA) HuntGregory development portfolio is in excess of $150 million.Minnesota Builders AssociationMN Association of Real Estate Brokers • Previous to HuntGregory, Mr. Gregory was employed by Can-American Realty Corporation. While with Can-American, Mr. Gregory was responsible for development of for sale and rental residential housing. Can-American developed and managed over 3,000 residential units at the time. • Previous to Can-Amercian, Mr. Gregory was employed by Norwest Bank Minneapolis as a commercial banker in the oil & gas and real estate divisions. Brent Rogers Greco: Vice President of Development As Vice President of Development for GRECO, Mr. Rogers is a partner and project manager for all new development projects at GRECO. Mr. Rogers is responsible for seeking out new development sites and acquisition opportunities, contracting with 3rd parties for engineer- ing and design, securing financing, and managing the construction process for new projects. In addition, Mr. Rogers is responsible for overseeing the Marketing, Lease ]Up, and Property Management of all new GRECO projects.EducationUniversity of Wisconsin Madison Real Estate and Urban Studies and Background Risk Management and Insurance Prior to joining GRECO in 2006, Mr. Rogers was a Developer with Dominium, a Minneapolis based developer and owner of over 15,000 units of multifamily housing. Mr. Rogers has beenProfessional AffiliationsUrban Land Institute (ULI) instrumental in structuring and managing the following projects while at GRECO orMN Multi Housing Association (MHA) Dominium:University of Wisconsin Real Estate • Development of Blue Apartments in Minneapolis, Minnesota. Alumni Assoc. (UWREAA) • Historic renovation of the former Homer G. Phillips Hospital in St. Louis, MO • Historic renovation of a former grocery and liquor distributing warehouse complex into Carleton Artist Lofts, • New construction of Mainstreet Village, in New Brighton, MN • Acquisition-rehab of a 98 unit Section 42 housing project in Sioux Falls, SD
  39. 39. ReferencesGreco References:Crown BankContact: Mr. Kevin HowkSenior Vice President6600 France Avenue South, Suite 125Edina, MN 55435Tel: 612.285.2721khowk@crownbank.comNorthmaq CapitalContact: Mr. Patrick S. MineaSenior Vice President, Managing Director3500 W. 80th Street, Suite 500Bloomington, MN 55431952.356.0111pminea@northmaq.comKNW GroupContact: Mr. Marty NannePrincipal5460 Feltl RoadMinnetonka, MN 55343952.646.1644mnanne@knwgroup.com
  40. 40. Relevant ExperienceNine Mile Creek Senior LivingBloomington, MNNine Mile Creek Senior Living is 91 dwelling units that offer everything that individuals need for active, carefree senior living today,with assurance for the future. In a refreshing, natural setting next to Moir Park, Nine Mile Creek Senior Living is in convenientBloomington, Minnesota. Residents enjoy the rejuvenating setting while having the culture and entertainment of the Twin Cities justminutes away.Retirement living at Nine Mile Creek includes senior living with services with maintenance-free independent living in spacious seniorapartment homes with many amenities and services featuring fine dining, housekeeping, transportation and others.If needs change, home health services and personal care can come directly to each individuals apartment. For those who need alittle extra help, assisted living within Nine Mile Creek has staff on duty 24-hours each day. The specially-designed Alzheimers andmemory care area is a home-like environment for those with memory loss.An exceptional retirement community is at Nine Mile Creek with the convenient, lifestyle living and assurance for the future.
  41. 41. Relevant ExperienceHeritage LandingMinneapolis, MNHeritage Landing represents a high-density, mixed-use, urban infill project in the heart of the historic Minneapolis Warehouse District.The 229-unit rental complex combines flats, lofts and stacked two-story townhomes with 400 underground parking stalls and 7,500sf of street-level retail. Our goal in the design was to combine contemporary living with an industrial aesthetic compatible to the his-toric neighborhood.The complex required two different structural systems and the integration of a historic 19th century battered stone wall, originallybuilt to enclose a railroad yard, and an old historic steel and wood bridge on the east side which was required to be left intact andexposed to view. Heritage Landing combine materials inherent to the area but used in a refreshing, imaginative way.Awards:2003 Minneapolis Heritage Preservation Commission and AIA - Heritage Preservation Award2002 AIA/HUD - Secretarys Housing and Community Design Award2002 Minnesota Concrete and Masonry Contractors Association Honor Award for Excellence in Masonry Design2000 Minnesota Multi-House Association - MADACS Award for Best Floor Plan/Townhome1999 Minnesota Multi-House Association - MADACS Award for Best Floor Plan/2BR + Den1999 Business Journal Best in Real Estate - New Residential Development Award
  42. 42. Relevant ExperienceLaSalle ApartmentsMinneapolis, MNHistoric renovation of 103,000 SF, 13-level, vacant YMCA building located at 36 South Ninth Street in Minneapolis, MN into 121 mar-ket-rate apartments and 3,000 SF of office space. Completed in 1994. This renovation has been placed on the National HistoricRegister.
  43. 43. Relevant ExperienceRiverstationMinneapolis, MNDevelopment and construction of a 360-unit, 12-building, for-sale, residential neighborhood located between Fourthand Eighth Avenues North and North First and Second Streets in Historic Warehouse District of Minneapolis, MN.Completed in 2002.*City Business, Best in Real Estate Award - New Residential Development, 1998
  44. 44. Project for Pride in Living Project for Pride in Living, Inc. (PPL) is a nonprofit organization dedicated to helping lower-income families develop the tools they need to achieve self-sufficiency. Since 1972, thousands of people from throughout the metro area have built brighter, stable futures and stronger communities as a result of PPL’s innovative, highly integrated approach. PPLs earliest activities were devoted to increasing the supply of affordable, quality housing Affordable Housing as a stabilizing force in the inner city neighborhoods of Minneapolis; today PPL is widelyEmployment & Job Training recognized as a local pioneer in providing a range of integrated services for low-income Support Services youth, adults, and families. Education We have expanded our geographic scope as well as the services we provide, broadening1035 East Franklin Avenue our reach to include neighborhoods in Saint Paul and five first-tier suburbs. Our activities Minneapolis, MN 55404 have evolved to meet the changing needs of our community, and we remain agile in responding to emerging issues. Phone: 612.455.5100 Fax: 612.455.5101 Guiding the organization’s growth and current programs is the phrase,“Helping people help themselves,” expressing our commitment to the values of a strong work ethic, personal accountability and responsibility, and the participation of the disenfranchised in their own growth toward self-sufficiency. These values reinforce our mission: PPL works with lower- income individuals and families to achieve greater self-sufficiency through housing, employ- ment training, support services and education. PPL is a highly trusted service provider, offering a broad range of customized programs and services that help our participants achieve their goals, and that strengthen communities. PPL offers a range of highly integrated services that address the many challenges faced by our constituents in their journeys toward self-sufficiency. Activities include programs that help achieve the following: • Affordable Housing. • Employment and Job Training. • Human Services. • Education. Programs are offered from four general service locations—the Loring Nicollet Community Center, the Bethlehem Community Center, and the PPL Service Center and Emma B. Howe Learning Center. PPL has long been considered a leader in addressing the needs of low-income area resi- dents.The agency has won a number of local and national honors, including recognition by the Fannie Mae Foundation as one of 10 national winners in its Sustained Excellence Awards Program for community development, and a 2005 Excellence Award given by the Minnesota Council of Nonprofits and Management Assistance Program.
  45. 45. Team Resumes Steve Cramer PPL: President and Executive Director Steve Cramer rejoined PPL in August 2003, after serving as director of the Hennepin County Department of Housing, Community Works & Transit, a post he assumed in February 2002. For the preceding three years he had served as executive director of the Minneapolis Community Development Agency. From 1994 through 1999, Cramer served as PPLs director of housing and development, chief operating officer and finally president and executive director. He was elected to the Minneapolis City Council and served as a councilEducation member from 1984 to 1993.Humphrey Institute of Public Affairs,University of Minnesota He currently serves on the Minnesota Task Force to End Homelessness, the Minnesota Multi M.A. in Public Affairs Housing Association Board of Directors, and chairs the Minneapolis Consortium of Community Developers and the Minnesota Ballpark Authority. He has served on the HouseUniversity of Tulsa Minnesota Advisory Committee, Fannie Mae National Housing Impact Advisory Committee, B.S. in Urban Planning Catholic Charities Board of Directors, St. Josephs Home for Children Advisory Board, and as vice chair of the Metropolitan Airports Commission. Partial Relevant Experience Calhoun Square Redevelopment- Minneapolis, MN Brook Commons Apartments, Minneapolis, MN Charlotte Commons Apartments, Minneapolis, MN Camden Apartments, Minneapolis, MN Midtown Exchange Condos, Minneapolis, MN Linden Park Condos, New Hope, MN Linden Place Apartments, New Hope, MN Barbara McCormick PPL:Vice President of Housing and Community Impact Barbara McCormick has more than 20 years of experience in the nonprofit housing field, beginning with a community-based development corporation and then moving on to a Twin Cities-wide nonprofit housing provider. She is experienced in syndicating Historic Preservation and Low-Income Housing Tax Credits, has served as asset manager for inner- city and suburban affordable rental housing, and operated various loan and grant programs for out-state housing developments. Ms. McCormick has been overseeing PPLs work in affordable housing and commercial development since 1998. Partial Relevant Experience Calhoun Square Redevelopment- Minneapolis, MN Brook Commons Apartments, Minneapolis, MN Charlotte Commons Apartments, Minneapolis, MN Camden Apartments, Minneapolis, MN Midtown Exchange Condos, Minneapolis, MN Linden Park Condos, New Hope, MN Linden Place Apartments, New Hope, MN
  46. 46. Team Resumes Chris Wilson PPL: Director of Real Estate Development At PPL, Chris Wilson is responsible for all commercial and housing development activity from project inception through completion. PPL currently has under construction or recently completed projects totaling in excess of 30 million dollars with additional projects totaling about 50 million dollars in the pipeline. Mr. Wilson has been with PPL since 1996, joining the organization in a Construction Management role after previous service oversee- ing the Summer Youth Program. Mr. Wilson also oversees the Emergency Repair Program,EducationUniversity of Chicago which provides repair services to low income homeowners. Mr. Wilson has more than B.A.English twenty-five years of project management and architectural experience. He holds anUniversity of Minnesota Architecture degree from the University of Minnesota and a B.A. in English from the Architecture University of Chicago. Partial Relevant Experience Calhoun Square Redevelopment- Minneapolis, MN Brook Commons Apartments, Minneapolis, MN Charlotte Commons Apartments, Minneapolis, MN Camden Apartments, Minneapolis, MN Midtown Exchange Condos, Minneapolis, MN Linden Park Condos, New Hope, MN Linden Place Apartments, New Hope, MN Leslie Angel PPL: Director of Property Management Leslie Angel has over 22 years experience managing affordable housing in the central cities. Prior to joining PPL in 1986, she "learned the ropes" in a busy real estate office in the Stevens Court neighborhood where she developed an affinity for the challenges and rewards ofEducation affordable housing. In her 20 years with PPL she has both supported and directed theUniversity of Minnesota growth of the property management department from a humble 2-person office with less B.A. in Humanities than 50 units to its current professional team of 22 managing over 600 units of housing. Ms. Angel completed her Certified Occupancy Manager training at the Minnesota Multi-Housing Association and has a BA in Humanities from the University of Minnesota. Partial Relevant Experience Calhoun Square Redevelopment- Minneapolis, MN Brook Commons Apartments, Minneapolis, MN Charlotte Commons Apartments, Minneapolis, MN Camden Apartments, Minneapolis, MN Midtown Exchange Condos, Minneapolis, MN Linden Park Condos, New Hope, MN Linden Place Apartments, New Hope, MN
  47. 47. ReferencesPPL References:Minneapolis CPEDContact: Mike Christenson, DirectorCrown Roller Mill105 Fifth Avenue South #200Minneapolis, MN 55401612.673.5122mike.christenson@ci.minneapolis.mn.usMinnesota Housing Finance AgencyContact: Marcia Kolb,Assistant Commissioner Multifamily Division400 Sibley Street, Suite 300St. Paul, MN 55101651.296.3028marcia.kolb@state.mn.usTwin Cities LISCContact: Andriana Abariotes,Executive Director570 Asbury Street, Suite 207St. Paul, MN 55104651.649.1109aabariotes@lisc.orgFamily Housing FundContact:Thomas P. FultonPresidentMidwest Plaza West, Suite 1825801 Nicollet MallMinneapolis, MN 55402612.375.9644tfulton@fhfund.org
  48. 48. Relevant ExperienceCamden ApartmentsMinneapolis, MNPPL and Emerge Community Development jointly developed Camden Apartments in 2007.This 23 unit permanent supportive housing development targeting families with a fatherpresent is located in the North Minneapolis neighborhood of Lind-Bohanon on the site ofthe former Camden Motel.
  49. 49. Relevant ExperienceMidtown Exchange Condos on the GreenwayMinneapolis, MNPPLs "Midtown Exchange Condos on the Greenway" is part of the redevelopment of the historic "1928" Sears Retail building in SouthMinneapolis known as Midtown Exchange. Completed in 2006, the building wraps around a six-story parking ramp which services thenew users of the redeveloped building and consists of 57 reasonably priced condo and townhouse units.
  50. 50. Relevant ExperienceLinden DevelopmentNew Hope, MNPPL developed this long vacant City-owned parcel in New Hope in two phases. Linden PlaceApartments, the first phase of the development completed in 2005, is a newly constructed35 unit apartment building offering two, three, and four bedroom units with rents affordableto households earning 30-60 percent of the area median income.The second phase is LindenPark Condominiums offering 41 reasonably priced condominium units.
  51. 51. BKV Group BKV Group is a full-service architecture, engineering, interior design, landscape architecture and construction administration firm. Over the last 30 years, BKV Group has grown from a sole proprietorship into a diverse partnership with offices in Minneapolis and Chicago, serving clients locally and nationwide. Collectively we represent a practice whose expertise Architecture is team-focused and offers a client-centered approach to creating architectural solutions. As Interior Design a result of our full-service structure, we offer our clients a single source for all aspects of Landscape Architecture design and construction administration services. Engineering BKV Group is an established leader in four primary practice areas—community development, 222 North 2nd Street corporate, education and government. Each practice area is led by BKV Group partners who are nationally recognized leaders in their respective fields.Minneapolis, MN 55401 Phone: 612.339.3752 Our firm’s culture is based on a highly collaborative design model. We strive to cultivate Fax: 612.339.6212 client relationships where creativity can flourish, leading to architectural solutions that enhance and inspire our client’s program. We engage our clients, value their objectives and develop innovative design solutions that make meaningful contributions to the built environment. BKV Group is a design leader in the development of mixed-use residential environments. We are a design resource that emphasizes the total building design, from the aesthetics of exterior image to the sciences of building technology and the challenge of creative cost control. The creative design value of BKV Group has attracted national exposure and clients. BKV Group is unique in our full-service approach to projects. Providing our clients with complete in-house design services leads to fully coordinated construction documents and a seamless transition to construction in the field. Our in-house services include planning, architecture, interior design, landscape architecture, structural/mechanical/electrical engineering and construction administration.

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