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LIVE.WORK.PLAY.

LIVE.WORK.PLAY.
March 23, 2018

Basia Pruna
Procurement Contracting Manager
Miami-Dade County
111 NW 1st Street, Suite 1300
Miami, Florida 33128

Re: RFP – 00700 Development of Block 45 at 152 NW 8th Street, Miami, FL

The Hub Block 45, LLC (Joint Venture between 13th Floor Investments, Adler Group and Cornerstone Group,
"13AC"), is pleased to submit this proposal to partner with the Miami-Dade Department of Transportation and
Public Works (“DTPW”) in their efforts to transform the Miami-Dade County owned Block 45 property into an
exciting and vibrant destination.

13 AC is proposing a fast-tracked, mixed-income, mixed-use, transit oriented destination that preserves and
embraces the heritage of the historic Overtown Community, while stimulating future growth as a center for
culture and entertainment. Our proposed project, The Hub, is designed to deliver an economically sustainable
transit-oriented development that functionally and aesthetically activates and connects the vibrant
entertainment district of the Overtown neighborhood with the Metrorail and downtown Miami.

The Sponsors seek to build on their transit-oriented expertise to develop another true Live, Work, Play, Go
destination in Miami-Dade County. 13th Floor, Adler, and Cornerstone are three highly successful and competent
local Miami-Dade development groups with combined experience that spans generations:

- 13th Floor Investments, led by Arnaud Karsenti, headquartered in Miami, Florida is a value-add investor,
owner, developer and manager of real estate properties throughout the state. 13th Floor Investments has
established a strong reputation for successfully acquiring, managing, developing, and exiting real estate
investments in the Florida market. Since 2008, 13th Floor has acquired over 35 assets, operates over $1
Billion in total project costs, and is actively involved in countless large-scale construction projects
throughout the tri-county area. 13th Floor brings to the partnership expertise in the local market as well
unique experience in transit-oriented developments.

- Adler Group, led by Michael M. Adler, is a multigenerational full-service real estate company,
headuartered in Miami, Florida. With over 50 years of leasing, property management, acquisitions,
investment, development and construction experience, Adler Group and its affiliates have developed and
acquired over 20 million square feet of industrial, office, and retail real estate and over 8,000 residential
units. Adler brings to the partnership its visionary approach to development and strong relationships with
a prestigious list of institutional and private investors and recognized lenders.

- Cornerstone Group, led by Jorge Lopez, has developed over 60 affordable housing communities with
over 15,000 units. Over 1,300 of these units were developed as mixed income communities. This track
record represents the largest portfolio of tax credit financed mixed income housing financed Florida.

Not only do Adler, 13th Floor, and Cornerstone each independently have robust real estate knowledge and
experience, but also have experience partnering together to successfully execute on the development of
transit oriented urban projects. The effectiveness of the joint Adler Group and 13th Floor Investment teams
are already well known by DTPW. In 2015, the team was awarded the Douglas Station RFP and successfully
negotiated and had approved a similar joint development lease agreement.

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The Douglas Station project is on track to break ground in 2018 with significant upgrades and improvements to
the Metrorail station, bus bays, and structured parking with a total of 1,375 residential units, 280,000 SF of
office, 70,000 SF of open public space (including a 25,000 SF public plaza) and 60,000 SF of Retail (including
a 40,000 SF grocer).

In addition to Link at Douglas, the 13 Adler partnership is also on track to deliver Phase III of the Dadeland North
Joint Development project later this year. Motion at Dadeland is yet another example of the successful 13 Adler
partnership and its commitment to both public-private partnerships and transit-oriented developments.

On The Hub at Overtown, 13AC brings to DTPW the most experienced and comprehensive development team
including:

• Architect – Behar Font & Partners


• Design Consultant – Neil Hall
• Non-Profit Partner – Overtown Youth Center
• Community Outreach – Culture 44
• General Contractor - Civic Construction
• Property Management - Greystar
• Private Provider - MTCI
• Civil Engineer – Kimley Horn
• Landscape Architect – Witkins Hults
• Retail Leasing and Consulting – Gadinsky Real Estate
• Office Leasing – Blanca Commercial Real Estate
• Environmental/Sustainability Consulting – The Spinnaker Group
• Land Use and Ground Lease Attorney – Greenberg Taurig

Adler, 13th Floor and Cornerstone are capable firms that have the capacity to execute and successfully
complete The Hub at Overtown. The firms are extremely committed to community development and
delivering on all aspects of our proposal, including a local community center through a partnership with the
Overtown Youth Center. As local residents we feel a strong connection to the Overtown community and are
passionate about contributing to its economic development.

13th Floor Investments, the Adler Group and Cornerstone recognize and appreciate the important
responsibility that comes with this opportunity and are committed to ensuring this project is a success for
both the local community and for Miami-Dade County.

Sincerely,

Arnaud Karsenti Michael Adler Jorge Lopez


Managing Principal, 13th Floor Investments Chairman, Adler Group President, Cornerstone Group

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TABLE OF CONTENTS

1. Cover Letter........................................................................................2

2. Table of Contents...............................................................................4

3. Executive Summary...........................................................................6

4. Proposed Approach to Development Project.............................10


a. Proposed Concept
b. Station Improvements

5. Community Development and Marketing...................................56

6. Project Schedule..............................................................................69

7. Market Analysis................................................................................97

8. Execution Management Plans......................................................105

9. Proposers Corporate Experience and Past Performance........112

10. Key Personnel and Subcontractors Performing Services......136

11. Project Financial Information.....................................................166

12. Proposers Financial Strength.....................................................201

Appendix A - Attachment A References


Appendix B - LEED Checklist
Appendix C - Parking Analysis
Appendix D - Spotlight on TOD Partnership
Appendix E - Market Report
Appendix F - Affidaivits

Technical Response Form Section


Proposer Corporate Experience and Performance 9
Key Personnel and Subcontractors 10
Proposed Approach to Dev Project, Community Dev & Marketing 4,5,7,8
Construction Schedule 6
Financial Information 12
Price Criteria
Proposed Rents 11

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Attachment A Summary

T H E

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3
Executive Summary
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Executive Summary
It is with great pleasure that we introduce “The Hub”, Overtown’s next Landmark Mixed-Income Transit Oriented
Development.

The HUB Proposes 602 Residential units,


25,635 SF of Retail and 26,470 SF of Office space.

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THE PROPOSED DEVELOPMENT PROGRAM WAS CONCEIVED UNDER THE FOLLOWING GUIDING
PRINCIPLES:

1. FAST TRACKED SCHEDULE


The Development team will make best efforts to achieve the August 2020 date for delivery of the Project(as
defined by achieving a certificate of Occupancy C.O.). 13AC is ready to achieve this date by accelerating the
schedule through a variety of means (please refer to the schedule section of this Proposal for details). 13AC
has substantial experience negotiating joint development leases with DTPW. Moreover, the Development team
is comprised of experienced professionals including a permit expeditor that are all committed to a timely
delivery of the completed project. In addition, the Development team will commit to performing all the
proposed the Station Improvements before Aug 2020.

2. EXECUTION CERTAINTY
The project was designed to be built as a single phase. Moreover, the massing was developed to allow
simultaneous construction of the two separate towers supporting thefast-tracked schedule strategy. While the
project may apply for competitive 9% affordable housing tax credits, the sponsor team is committed to
delivering the project utilizing the readily-available 4% tax credits if necessary. This strategy will ensure the
most expedient path to construction.

3. MIXED INCOME AND AFORDABILITY


The project seeks to maximize the zoning and the development potential with 602 units divided into two
towers. The north tower will have 127 affordable units (21%) and the south tower will have 475 workforce and
market rate units (79%). Even though the requirement is that only 25% of residential units are priced as
workforce and affordable, we are strong believers in the need to have housing that is both attainable for the
local community and varied in terms of price points. Our lease-up pricing proposes that at least 450 units or
75% of our total units fall within the workforce and affordable rent limits.

4. COMMUNITY CENTER AND PARTNERSHIPS


The project shall include a 3,200 SF community center on the ground floor, with a variety of meeting spaces,
office space, and a technology/coding lab. Through a revenue-share program ( 0.25% of gross revenues),
profits from the development will aid the Overtown Youth Center, a non-profit organization in its provision of
community services. The center will include at least one full time employee to facilitate programs and services,
such as a counseling program to empower the youth population. In addition we will provide 1,000 SF of retail
space on the ground floor for the Neat Stuff clothing distribution.

5. OVERTOWN ENTRETAINMENT DISTRICT RETAIL


The Development team shall work with the local community to attract quality tenants that will make the
project a destination and serve as an anchor for the Overtown music and entertainment district. Through local
and national community outreach the team will solicit and provide incentives to attract entertainment retail
tenants that utilize the unique benefits and zoning of the Overtown entertainment district. The retail shall
activate NW 8th street and 2nd Ave with outdoor cafes, dining and live music. Potential tenants include
Jackson Bros Ice Cream and a Jazz Club.

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6. JOBS PROGRAM
Jobs are a critical component to any community development project. The Development team plans to
coordinate with top-tier local agencies for effort designed to assist local residents in their efforts to access job
training, job placement services, and employment opportunities at the Project during its construction and
permanent jobs after the construction is complete.

7.COMMUNITYOUTREACH
The Development team intends to have a robust outreach program to the local community, organizations and
other businesses. We view communicating with our neighbors as a critically important element in the
development process by partnering with leaders as well as the local community to determine resident needs as
it relates to housing and commercial uses. Community outreach will include attracting retail and office users as
well as an exclusive marketing campaign with local organizations for the affordable andworkforce housing units.

8.TOD CONCEPT
We are strong believers in the benefits of increasing mass transit ridership and are proposing a $2.5M
investment in functional and aesthetic Station Improvements to the Historic Overtown / Lyric Theater
Metrorail Station. Given the Hub's location on a major transportation node at the intersection of the Metrorail,
Tri-rail, Brightline, and Bus transportation, the development is being conceived as a true live-work-play-go
development. This TOD mindset permeates into every aspect of the project, from design of oversized drop off
areas for autonomous vehicles, to open parking arrangements, to retail curation for grab-and-go concepts, to
transit screens around the pedestrian areas. We plan to bring all the best practices we have gathered from
comparable TOD projects (1010 Brickell, Motion at Dadeland and Link @ Douglas) to create an iconic transit
landmark in Overtown.

9. HIGHEST AND BEST USE


Given the competitive nature of the RFP, we have decided to propose an option that maximizes the current in-
place zoning and has the highest possible commercial value for the county. The offer includes the following:

90 Year County Revenue Summary Amount


Station Improvements $2,500,000
Annual Initial Rent (Before CO) $240,000
Minimum Annual Guarateed Rent ($10,000/mon - growing at 2%) $27,662,082
Participation Rent (2% of Gross Revenue (excluding Affordable units) $69,616,241
Total Payments $100,018,323
Present Value of Total Payments $18,208,379

* If 9% Tax Credits are awarded for the affordable housing units, an additional 3.5% of affordable gross
rents will be passed through to Miami-Dade County. This represents an additional annual income of
$45,000 or $1.6MM in NPV for the County for a total NPV of $20MM.

10. GROUNDED DESIGN


The development was designed following a transitional concept, avoiding an “out of place” tower and
ensuring the development itself acts as a transition from downtown’s dense skyline to the lower density
residential areas in Overtown (to the north and to the west). That is why we have separated the development
into two independent towers. The south tower is higher, while the north tower is lower. The architectural intent
is to use this development as a transition to bring Downtown into Overtown. In addition to having a
meaningful and grounded architectural massing, the design of the podium and tower merges modern
architecture with Bahamian themes and styles. Lastly, we also propose to conduct a design competition for
the mural on the podium of the garage as a way to celebrate the local talent and heritage of the site.

Our proposed concept and execution plan was created with these priorities as guiding principles. We trust
that these are aligned with Miami-Dade County’s priorities and look forward to your consideration. The full
proposal expands on these points and provides detailed plans for the successful execution of the venture.

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4
Proposed Approach to
Development Project
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Proposed Approach to Development Project
Context

The Overtown neighborhood is one of the oldest


neighborhoods in Miami, with its own unique history and
cultural significance. The area was originally settled and
developed by Miami’s first African American and
Bahamian residents and became a community that was
both culturally and economically vibrant. The community
residents built their homes, businesses, churches, retail
stores, and entertainment venues. The history of
Overtown speaks to a rich musical and entertainment
heritage along NW 2nd Ave, which was know at the time
as Avenue G. During this period Overtown was known as
“Little Broadway” and was home to numerous music
venues, including the 535 Club, the Fiesta, the Rockland
Palace, the Harlem Square, the Flamingo Room, the Zebra Room, and the Knight Beat. The neighborhood
provided an array of entertainment for local residents and attracted a diverse spectrum of visitors throughout
the first half of the 20th Century.

Unfortunately, the second half of the 20th Century was a challenging time for the Overtown neighborhood. The
challenges were caused by a variety of factors including the construction of the SR-836/I-395 and I-95
expressways that created significant physical and psychological barriers that changed the character of the
neighborhood. Miami, like most other major US metropolitan areas, focused its late 20th century planning and
development around the automobile and the suburban lifestyle. During this time Overtown’s potential was not
realized and the area saw overall economic, social, and physical decline. However, recent social and
generational practices have led to a renewal of interest and investment in urban neighborhoods and
development near transit hubs. Overtown, with a rich
cultural history and central location, has unmatched
accessibility to multiple modes of transportation – key
ingredients for substantial and successful development.

Our proposed project, The Hub @ Overtown, located on


Block 45, is at the southern end of Overtown and in a prime
location to thoughtfully transition the path of growth from
the downtown government and business district to one of
Miami’s premier historic neighborhoods. The Hub’s central
location and access to public and private modes of
transportation are key advantages that position the
property for successful redevelop efforts. The Hub’s
immediate accessibility to Miami’s most traveled roadways: I-95, 836, 395, and US1, and pedestrian connectivity
to Overtown, Park, Park West, downtown Miami and Brickell (the heart of Miami’s urban core), provides
development opportunities for residents seeking a connected urban lifestyle. The Metrorail, Metromover, (7)
bus routes (2, 6, 7, 95 Express, 211, 246), and soon to be completed Miami All Aboard station (Brightline and
Tri-Rail), together with ride sharing through Uber and Lyft, enhanced by safe biking paths, are assets that
accentuate The Hub’s desirability. The HUB @ Overtown is conceived as a Transit Oriented Development that
takes full advantage of its unique location.

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The Hub has the potential to further enhance and integrate


into the fabric of 21st Century Downtown Miami, while
staying true to its cultural heritage as part of Overtown. The
strategic use of historically and culturally sensitive designs
and architecture styles, along with innovation in both
architecture and layout design, will define The Hub and set it
apart from other mixed-use developments. To that end, the
Project will seek design and architectural influence from a
number of iconic buildings in the area including, the Greater
Bethel African Methodist Episcopal Church and the Mt. Zion
Baptist Church, both of which epitomize the Mediterranean
Revival style, the St. Agnes’ Episcopal Church, which exemplifies the fusion of several contrasting styles
including elements of the Gothic Revival and Mission, and the Lyric Theatre, which strategically employs
masonry vernacular architecture with Clasical detailing.
The surrounding neighborhood is experiencing a tremendous
amount of growth and investment from both the public and
private sector. The investment in the tunnel from 395 to the Port
of Miami redirected cargo traffic off 6th street, Port Blvd, has
made The Hub more conducive to both residential and
commercial development. To the east, All Aboard Miami is making
a significant investment in transportation infrastructure as well as
residential, retail, and commercial space. Further east, the
development of Miami World Center, downtown convention
center and hotel, and the planned Miami Innovation District are all
within walking distance. To the north, the redevelopment and
increased height of 395 and associated park will provide
connectivity to north Overtown and much needed public space in
the neighborhood. To the west is the planned Major League
Soccer Stadium and to the south is the reconstruction and
beautification of Flagler Street. Beyond all of the new
developments, there has been a significant investment in the redevelopment
of the historic Lyric Theater, Omni Media and Entertainment District, Adrienne
Arsht Center for the Performing Arts, Perez Art Museum Miami, Frost Science
Museum, Museum Park, and American Airlines Arena – all within walking
distance.

Beyond its immediate surroundings The Hub sits at the cross-section of some
of Miami’s most vibrant neighborhoods: Downtown Miami, Brickell, the Arts &
Entertainment District, Wynwood, and the Miami River District. This not only
positions the Project to be strategically located, but also to afford its residents
and visitors with a truly live-work-play-go environment. The Hub will serve as
an energetic destination that will attract community residents, as well as
visitors and tourists. With the Metrorail, Metromover, Bus stops on site and All
Aboard Florida station only a few blocks away, The Hub shall be a transit-
oriented development providing direct access to all of Downtown Miami,
Brickell, the Arts & Entertainment District, the Health District, Miami
International Airport, Dadeland, University of Miami, Coral Gables, Ft.
Lauderdale, West Palm Beach, and Orlando.

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Development Approach

The Development team’s goal is to transform Block 45, a vacant parcel of land, into a keystone project with
enough critical mass that will further the revitalization of southeast Overtown into a thriving mixed-use, mixed-
income neighborhood and transit-oriented hub. While neither government nor the private sector alone can
solve all the challenges of community development, working together, in collaboration with community
stakeholders, we can achieve our shared goals and vision. Successful partnerships begin with trust. Our
Development team has decades of experience working together and with the public sector, recognizing that
achieving public benefits and reasonable investment returns are not mutually exclusive. We took a compressive
approach to meet not only the goals of the RFP, but also fulfill all of the SEOPW CRA’s redevelopment goals,
with a focus on providing mixed income housing and creating job opportunities.

We recognize the important responsibility of partnering with Miami-


Dade County, to deliver a mixed-use, mixed-income, transit oriented
development in the historic Overtown neighborhood on the edge of
downtown Miami. As Miami embraces its role as a global city,
downtown Miami continues to expand outward, drastically changing
the built environment and the urban fabric of the City. The Hub @
Overtown provides the unique opportunity for a transitional project
that reaches out towards the future without abandoning the past. The
development seeks to serve as the cross-roads and provide synergy
between downtown and the already established neighborhood of
Overtown. Along with growth, we have an opportunity to pause and
embrace the Overtown neighborhood and its rich cultural diversity.

The initial approach to the project was to consider the site context and the varying scale of the encompassing
environment. From its immediate surroundings of small scale buildings, churches and theater, to the 60 story
towers along Biscayne Boulevard, our project takes an opportunity to consider the backdrop and the vibrancy
of the area. As a response to this unusual range of building scales, our design approach called for a building that
would help breakdown the large massings in the area and strive to be a “friendlier neighbor”, architecturally to
its immediate and distant neighbors. This is a refreshing approach to development paying special regard to
scale, context and most importantly...the
neighborhood. From the street to the sky, we
intentionally organized the building into a series of
forms and articulated masses that not only define
their use within the building but also address the
important issue of civic scale. Most importantly, The
Hub @ Overtown will be visually appealing and
welcoming to the entire community and not
offensive in any way.
At the sidewalk level, we have surrounded the building with active uses, minimizing blank walls and perceived
backs and fronts to the building. The building will be positioned to provide ample setback from all the
surrounding streets offering a wide pedestrian friendly sidewalk and open space with inviting hardscape and
landscape features. Both the sidewalk and the building will have ample lighting that will enhance the nighttime
aesthetic, while providing a safe walking environment. The Property will have distinct entrances and exits with
clearly marketed signage for ingress and egress as well as internal way-finding signage for residents, workers
and visitors. Most of the residential units setback from the podium and positioned along 8th street and 7th
street, with only units at the end of the towers facing NW 2nd ave above the podium.

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We paid special attention to the active streets and


positioned retail along the connective roadways of 8th
Street and 2nd Ave. Additionally we provided an active
retail space mid block on NW 1st court, aligning with the
entrance to the Metrorail. We intended for the building
podium, on which the two towers sit, to address every
corner and every side of each city block. With retail at
the ground level and liner townhouses and office suites
above, the soul of the project lies in a realistic concept of
Work, Live, Play, Go. The townhouses just above the
sidewalk are set back from the building frame to allow
for large expanses of livable porches, reminiscent of
Bahamian Architecture where the balconies line up to

“speak to each other” and animate the street façade with activity.

Above the townhouses and office level is a screened parking deck that accommodates both residents and
shoppers, taking the pressure off of current vehicular activity, especially on NW 2nd Ave. Designed as a line of
trees, the metal screens are a continuation of the actual street trees below. These screens soften the façade
and poetically mimic a forest of trees with light passing thru. From the street, the view up towards the building
is a blend of the real trees at grade with the parking screens above which will visually provide a glow. The
well-articulated podium of the building has been designed as a series of separate architectural experiences so
to feel as if part of the neighborhood. The articulation at the podium of the building picks up on a more modest
scale, relating to the buildings across the street and continues the rhythm of the streetscape in multiple
directions.
The position and use of color for both towers are also intentionally
articulated with this idea of breaking down their massing and scale, in
this case, vertically. The taller rental residential tower has been placed
immediately across from a newer development with the lower
affordable residential building respectfully addressing the historic
Lyric Theater and development to the north and west. With the
introduction of a darker accent color, the taller rental residential
tower appears to be floating above the amenities deck for the
residents, while the shorter building securely grounded to the lush
rooftop garden on the amenities deck. Further, the introduction of a
darker break in the façade of the taller tower helps to relate in scale
to the lower residential building and addresses the scale of the
adjacent buildings. The design and feel of each aspect of the Project,
as well as the Project’s overall design, will demonstrate Bahamian
themed architectural style in a creative, modern setting that enhances
the neighborhood. The innovative and modern architectural creativity,
yet culturally sensitive building design, along with mural wall (visible
from I-95), will be the defining elements of The Hub.

The Hub will deliver a symbiotic relationship between and amongst residential components, retail stores and
office space. The variety of uses and components will transform Block 45 into into an exciting and desirable
destination – an urban neighborhood that enhances the quality of life for residents and visitors by creating a
truly livable community. The retail mix is specifically curated to support the lifestyle of the residents, visitors,
employees, pedestrians, and the neighboring community, creating a sense of place.

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The residential units will bring much needed mixed income housing
to the area and will be both aesthetically pleasing and culturally rich
in design. The Project shall enhance the area through job creation at
the residential buildings, retail stores and the office building where
the sponsor team intends to provide a preference for local area
businesses.

The Project complies with all applicable requirements outlined by


the Florida Building Code, the City of Miami Planning Department,
the City of Miami Zoning Code (Miami 21), the requirements
imposed by the RFP, along with the to be negotiated Lease
Agreement. Providing ample urban space at the ground level allows
the project to develop a rich landscape and accessible hardscape

The Project will allow our building to significantly contribute to a civic streetscape in all directions. Our goal from
its conception is to create a building that contributes to an already vibrant and diverse community from its use to
its architectural presence. A development that will certainly help integrate the community and further build on the
idea of Live Work Play Go.

The HUB will also be designed and constructed in a way that


promotes environmental quality, economic vitality, and creates an
environment that aspires to provide the highest possible level of
operational efficiency. This shall be accomplished through energy,
water, and materials efficiency that provide a healthy, productive, and
comfortable environment with long-term benefits. The design team
will work toward incorporating, in both the design and construction,
the requirements for the project to obtain a LEED silver rating (or
equivalent designation such as Florida Green Building Coalition). The
design is based on the Federal Leadership in High Performance and
Sustainable Buildings Memorandum of Understanding five Guiding
Principles, which are: employing integrated design, optimizing energy
performance, protecting and conserving water, enhancing indoor
environmental quality, and reducing the environmental impact of
materials.

To summarize, the Project achieves to develop the current Block 45 site within the shortest feasible timeframe
through a mixed-use, mixed-income, transit-oriented development approach. The significant investment in the
surrounding area of Overtown provides a tremendous opportunity to provide a walkable mixed-use development
as an anchor for a livable downtown neighborhood for the middle and working class. The trends of suburban flight
are reversing and there is a strong and growing demand of the new economy for live, work, play, go mixed-use
settings that enhance livability through diversity of uses and people, social interactions, and accessibility to
multiple modes of transportation. The Development Team seeks to maximize the potential of The Hub, by creating
an economically viable destination that realizes the tremendous opportunity presented by The Hub’s location and
the changing dynamics of the new economy and society, while paying tribute to the legacy of Overtown’s history.

T H E

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OVERTOWN HISTORICAL INSPIRATION The Hub @ Overtown

TODAY’S CONTEXT The Hub @ Overtown

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MODERN DESIGN, LOCAL FLAVOR The Hub @ Overtown

LIVE | WORK | PLAY | GO The Hub @ Overtown

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VIEW OF THE HUB LOOKING NORTH EAST

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VIEW OF THE HUB LOOKING SOUTH EAST

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VIEW OF THE HUB LOOKING EAST

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VIEW OF THE GARAGE TREATMENT FROM NW 2ND AVE AND NW 7TH STREET

T H E H U B @ O V E R T O W N 21
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VIEW OF THE RETAIL / LINER UNITS FROM NW 2ND AVE AND NW 7TH STREET

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VIEW OF THE SITE SOROUNDING AREAS

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VIEWH OF
U THE
B SITE
@ SOROUNDING
O V E R T O AREAS
W N

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RETAIL - 25,635 SF

COMMUNITY
AREA - 3,230 SF

GROUND FLOOR

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BBL
PROPERTY LINE 268' - 1"

15' - 1" 238' - 0" 15' - 0"


10'-0" SETBACK
FIRST LAYER

15' - 0"
15' - 1"
25'--0"
25'
SECOND L
LAY
AYEER
OFFICE
13,235 SF

41' - 5"
48' - 10"

2' - 7"
ELEV.
ELEV. STAIR LOBBY
8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" BOH/ RESTROOMS 11' - 3" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 12' - 0" 5' - 0"
LOBBY #3 STAIR
2' - 3" 1' - 6" 1' - 1" 1' - 6" 1' - 0"

18' - 0"

10' - 7"
#4 STAIR
#5
8' - 1" 2' - 11"6' - 0"

5' - 9"
9' - 8"

8' - 4"

8' - 1"
22' - 0"
8' - 6"

8' - 6"
8' - 6"

8' - 6"
1' - 6"

8' - 6" 3' - 11"

8.00%

1' - 6"
8' - 6"

8' - 6"
44' - 5"

44' - 5"
ARTWORK/ MURAL 18' - 0" 22' - 0" 18' - 0" 18' - 0" 22' - 0" 18' - 0" 18' - 0" 22' - 0" 18' - 0" 22' - 0" 18' - 0" 22' - 0" 18' - 0" ARTWORK/ MURAL

8' - 6"
8' - 6"

8' - 6"
ARTIST TO BE SELECTED ARTIST TO BE SELECTED

RAMP DN @ 16.00%
8' - 6"

8' - 6"

8' - 6"
LEVEL 3
34' - 4"
6' - 0"

6' - 0"
1' - 6"
8' - 6"
96 PARKING SPACES
260' - 5"

260' - 5"
DN
STAIR STAIR
11' - 3"

11' - 3"
#6 #7
8' - 6"
PROPERTY LINE

PROPERTY LINE
1' - 3"
1' - 3"
8' - 6"

8' - 6"

8' - 6"
RAMP UP @ 16.00%
BBL

BBL
1' - 6"
1' - 6"

1' - 6"
8' - 6"

8' - 6"

8' - 6"
OFFICE - 13,235 SF
44' - 5"

44' - 5"
8' - 6"

3' - 11" 8' - 6"

8' - 6"
8.00%
8' - 6"

8' - 6"
1' - 6"

1' - 6"
8' - 6"

8' - 6"
22' - 0"
6' - 1"2' - 10" 8' - 1"

6' - 0"2' - 11" 8' - 1"


8' - 6"

8' - 6"
Liner Units - 8
7' - 10"
6' - 2"

20' - 8"
STAIR ELEV. STAIR
14' - 6"

1' - 9" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 7' - 2" 5' - 1" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 6' - 11" 9' - 5" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 1' - 5"
#1 LOBBY #2
1' - 6" 1' - 6" 1' - 6" 1' - 6" 1' - 6"
18' - 0"
5' - 7"

44' - 5"
59' - 2"

UNIT 1
2BR UNIT 8
910 SF 2BR
TYPE B-1 910 SF
UNIT 2 UNIT 3 UNIT 4 UNIT 5 UNIT 6 UNIT 7 TYPE B-1
1BR 1BR 1BR 1BR 1BR 1BR
805 SF 805 SF 805 SF 805 SF 805 SF 805 SF
TYPE A-1 TYPE A-1 TYPE A-1 TYPE A-1 TYPE A-1 TYPE A-1

14' - 10"
25'--0"
25'
SECOND L LAY
AYE
ER
20'-0" SETBACK
3' - 2"

3' - 2"
ABOVE 8TH STORY

10'-0
10'-0"" SET
SETBACK
BACK
3' - 0" 21' - 9" 2' - 3" 8' - 5" 2' - 2" 8' - 4" 4' - 0" 8' - 4" 2' - 2" 8' - 5" 4' - 1" 8' - 4" 2' - 2" 8' - 5" 4' - 1" 8' - 4" 2' - 2" 8' - 5" 4' - 1" 8' - 4" 2' - 2" 8' - 9" 3' - 9" 8' - 4" 2' - 2" 8' - 5" 4' - 1" 8' - 4" 2' - 2" 8' - 5" 4' - 1" 8' - 4" 2' - 2" 8' - 5" 4' - 1" 8' - 4" 2' - 2" 8' - 5" 4' - 1" 8' - 4" 2' - 2" 18' - 1" 3' - 0" FI RST LAYER
FIRST
265' - 6"
BBL
PROPERTY LINE

2ND and 3RD LEVEL


SCALE: 1/16" = 1'-0"

PARKING / OFFICE LEVEL

T H E H U B @ O V E R T O W N 26
LIVE.WORK.PLAY.
BBL
PROPERTY LINE 262' - 11"
12' - 11" 237' - 11" 12' - 1"
10'-0" SETBACK
FIRST LAYER

15' - 0"
2' - 1" 12' - 4"
20'-0" SETBACK
3' - 4" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 10" ABOVE 8TH STORY
25'--0"
25'
1' - 6" 1' - 6" 1' - 6" 1' - 6" 1' - 6" 1' - 6" 1' - 6" 1' - 6" SECOND LAYER

9' - 3"
5' - 5" 8' - 6"

41' - 5"
46' - 9"
ELEV.
7' - 8" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 4' - 6" 8' - 6" 8' - 6" 1' - 6" 8' - 6" 8' - 6" 6' - 0"
ELEV. STAIR 1' - 10" LOBBY
1' - 6" 1' - 6" 1' - 6" 1' - 6"
LOBBY #3 STAIR

10' - 7"
#4 STAIR
#5
6' - 0"

6' - 2"
2' - 11"

5' - 0"

5' - 9"
8' - 1"

8' - 1"
12' - 0"
12' - 0"

22' - 0"
161 PARKING SPACES

8' - 6"
8' - 6"

1' - 6"

8' - 6" 3' - 11"

1' - 6"
8' - 6"
8' - 6"

44' - 5"
44' - 5"

ARTWORK/ MURAL 18' - 0" 22' - 0" 18' - 0" 18' - 0" 22' - 0" 18' - 0" 18' - 0" 22' - 0" 18' - 0" 22' - 0" 18' - 0" 22' - 0" 18' - 0" ARTWORK/ MURAL

8' - 6"
8' - 6"
8' - 6"

ARTIST TO BE SELECTED ARTIST TO BE SELECTED

5' - 10" 8' - 6"


8' - 6"

8' - 6"
N.W. 2ND AVENUE

65' - 4"
6' - 0"

N.W. 1ST COURT


1' - 6"
256' - 6"

STAIR 8' - 6" STAIR


11' - 3"

11' - 3"
#6 #7
8' - 6"
UP
PROPERTY LINE

PROPERTY LINE
1' - 3"
1' - 3"
8' - 6"

8' - 6"

8' - 6"
BBL

BBL
1' - 6"
1' - 6"

1' - 6"
8' - 6"

8' - 6"

8' - 6"
44' - 5"

44' - 5"
8' - 6"

3' - 11" 8' - 6"

8' - 6"
8' - 6"

8' - 6"
1' - 6"

1' - 6"
8' - 6"

8' - 6"
22' - 0"

8' - 1"
8' - 1"
2' - 10"

8' - 6"

8' - 6"

2' - 6"
5' - 3"

4' - 4"
6' - 1"

8' - 6"

8' - 6"
8' - 6"

ELEV.
1' - 6"

1' - 6"
STAIR 1' - 1" 8' - 6"
8' - 6"

8' - 6"
8' - 6" 8' - 6" 8' - 6" 1' - 0" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" STAIR
LOBBY
8' - 6"

#1 1' - 6" 1' - 6" 2' - 5" #2

8' - 6"
8' - 6"

39' - 8"
5' - 6"
40' - 2"

8' - 6"

8' - 6"
1' - 6"

1' - 6"
8' - 6"

2' - 5" 8' - 6"

4' - 11"
2' - 10"

3' - 1"

11' - 2" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6" 8' - 6"
18' - 1"

18' - 9"
1' - 6" 1' - 6" 1' - 6" 1' - 6" 1' - 6" 1' - 6" 1' - 6" 1' - 6" 1' - 1"
25'--0"
25'
SECOND LAYER
20'-0"" SETBACK
20'-0 SETBACK
ABOVE 88T TH S
ST
TORY
22' - 9" 21' - 1" 22' - 0" 22' - 0" 22' - 0" 22' - 0" 22' - 0" 22' - 0" 22' - 0" 23' - 9" 17' - 11"
2' - 7" 2' - 2" 2' - 2" 2' - 2" 2' - 2" 2' - 2" 2' - 2" 2' - 2" 2' - 2" 2' - 3" 10'-0"" SETBACK
10'-0 SETBACK
FIRST
FI RST LAYER

BBL
PROPERTY LINE

4TH-6TH LEVEL
SCALE: 1/16" = 1'-0"
N.W. 7TH STREET

FULL PARKING LEVEL

T H E H U B @ O V E R T O W N 27
LIVE.WORK.PLAY.

T H E H U B @ O V E R T O W N 28
LIVE.WORK.PLAY.
BBL
PROPERTY LINE

10'-0" SETBACK

20' - 11"
FIRST LAYER
25' - 2" 187'-0". 65' - 0"

20'-0" SETBACK
ABOVE 8TH STORY

UNIT 1 UNIT 2 UNIT 3 UNIT 4 UNIT 5 UNIT 6 UNIT 7


2BR 1BR 1BR 1BR 1BR 1BR 2BR
980 SF 662 SF 662 SF 662 SF 662 SF 662 SF 983 SF
TYPE B-2 TYPE A-2 TYPE A-2 TYPE A-2 TYPE A-2 TYPE A-2 TYPE B-3

BOH

61' - 11"

65' - 7"
ELEV.
STAIR TRASH
LOBBY UNIT 13 UNIT 12 UNIT 11 UNIT 10 UNIT 9 STAIR UNIT 8
#3 RM 1BR STUDIO STUDIO STUDIO 2BR 2BR
#4
662 SF 434 SF 434 SF 434 SF 934 SF 990 SF
TYPE A-2 TYPE ST-1 TYPE ST-1 TYPE ST-1 TYPE B-8 TYPE B-4

89' - 2"
PROPERTY LINE

PROPERTY LINE
BBL

BBL
57' - 7"

25' - 6" 27' - 1"

UNIT 6 UNIT 7
1BR 1BR
700 SF 742 SF
TYPE A-4 TYPE A-5

TRASH
RM

UNIT 8
2BR
STAIR ELEV. STAIR

100' - 1"
UNIT 1 UNIT 2 UNIT 3 UNIT 4 UNIT 5 923 SF
#1 LOBBY #2

94' - 5"
2BR 1BR 1BR STUDIO STUDIO TYPE B-6
955 SF 662 SF 662 SF 434 SF 434 SF
TYPE B-5 TYPE A-2 TYPE A-2 TYPE ST-1 TYPE ST-1
66' - 4"

65' - 0"

UNIT 16 UNIT 15 UNIT 14 UNIT 13 UNIT 12 UNIT 11 UNIT 10 UNIT 9


2BR STUDIO 1BR STUDIO 1BR 1BR STUDIO 2BR
986 SF 434 SF 662 SF 434 SF 600 SF 662 SF 434 SF 986 SF
TYPE B-7 TYPE ST-1 TYPE A-2 TYPE ST-1 TYPE A-3 TYPE A-2 TYPE ST-1 TYPE B-7

20'-0"" SETBACK
20'-0 SETBACK
44' - 10" 187'-0". 44' - 11" ABOVE 88T TH S
ST
TORY
198'-0".
10'-0"" SETBACK
10'-0 SETBACK
21' - 2"

FIRST
FI RST LAYER

BBL
PROPERTY LINE

8TH-16TH LEVEL
SCALE: 1/16" = 1'-0"

T H E H U B @ O V E R T O W N 29
LIVE.WORK.PLAY.
BBL
PROPERTY LINE

10'-0" SETBACK
FIRST LAYER

20'-0" SETBACK
ABOVE 8TH STORY

PROPERTY LINE

PROPERTY LINE
BBL

BBL
57' - 7"

25' - 6" 27' - 1"

UNIT 6
UNIT 6 1BR
1BR 742 SF
700 SF TYPE A-5
TYPE A-4

ELEV. STAIR UNIT 8


STAIR
UNIT 1 UNIT 2 UNIT 3 UNIT 4 UNIT 5

99' - 1"
LOBBY #2
#1 2BR

94' - 5"
2BR 1BR 1BR STUDIO STUDIO
923 SF
955 SF 662 SF 662 SF 434 SF 434 SF TYPE B-6
TYPE B-5 TYPE A-2 TYPE A-2 TYPE ST-1 TYPE ST-1
66' - 4"

65' - 0"

UNIT 14 UNIT 13 UNIT 12 UNIT 11 UNIT 10 UNIT 11 UNIT 10 UNIT 9


2BR STUDIO 1BR STUDIO 1BR 1BR STUDIO 2BR
986 SF 434 SF 662 SF 434 SF 600 SF 662 SF 434 SF 986 SF
TYPE B-7 TYPE ST-1 TYPE A-2 TYPE ST-1 TYPE A-3 TYPE A-2 TYPE ST-1 TYPE B-7

20'-0"" SET
20'-0 SETBACK
BACK

CL
187'-0". ABOVE 88T TH S
ST
TORY
39' - 2" 198'-0". 39' - 0"
10'-0"" SET
10'-0 SETBACK
BACK
20' - 6"

FIRST
FI RST LAYER

BBL
PROPERTY LINE

17TH - 35TH LEVEL


SCALE: 1/16" = 1'-0"

T H E H U B @ O V E R T O W N 30
LIVE.WORK.PLAY.

T H E H U B @ O V E R T O W N 31
LIVE.WORK.PLAY.

T H E H U B @ O V E R T O W N 32
LIVE.WORK.PLAY.

T H E H U B @ O V E R T O W N 33
LIVE.WORK.PLAY.

T H E H U B @ O V E R T O W N 34
© 2017 BEHAR FONT PARTNERS, P.A. THE DESIGN AND DRAWINGS FOR THIS PROJECT ARE PROPERTY OF THIS ARCHITECT AND ARE PROTECTED UNDER THE COPYRIGHT PROTECTION ACT.

SECTION - A
03/23/2018
Roberto Behar AR14339
MIAMI, FL 33128

A-2.4
SEAL
152 NW 8TH ST

LIVE.WORK.PLAY.

DRAWING NAME:
THE HUB @ OVERTOWN

PROJECT No.:

SHEET No.:
DATE:
High Roof
384' - 10"

Roof
369' - 2"
STUDIO 1BR
Level 35
358' - 2"
STUDIO 1BR
Level 34
Room Legend STUDIO 1BR
348' - 6"
Level 33
338' - 10"
BOH STUDIO 1BR
Level 32
329' - 2"
COMMON AREA STUDIO 1BR
Level 31
319' - 6"
OFFICE STUDIO 1BR
Level 30
309' - 10"
PARKING STUDIO 1BR
Level 29
300' - 2"
RETAIL STUDIO 1BR
Level 28
290' - 6"
UNIT STUDIO 1BR
Level 27
279' - 4"
STUDIO 1BR
Level 26
269' - 8"
STUDIO 1BR
Level 25
260' - 0"
STUDIO 1BR
Level 24
250' - 4"
STUDIO 1BR
Level 23
239' - 2"
STUDIO 1BR
Level 22
229' - 6"
STUDIO 1BR
Level 21
219' - 10"
STUDIO 1BR
Level 20
210' - 2"
STUDIO 1BR
Level 19
200' - 6"
Level 18
190' - 10"
STUDIO 1BR
Level 17 Level 17
181' - 2" 181' - 2"
1BR 2BR STUDIO 1BR
Level 16 Level 16
171' - 6" 171' - 6"
1BR 2BR STUDIO 1BR
Level 15 Level 15
161' - 10" 161' - 10"
1BR 2BR STUDIO 1BR
Level 14 Level 14
152' - 2" 152' - 2"
1BR 2BR STUDIO 1BR
Level 13 Level 13
142' - 6" 142' - 6"
1BR 2BR STUDIO
1BR
Level 12 Level 12
132' - 10" 132' - 10"
1BR 2BR STUDIO 1BR
Level 11 Level 11
123' - 2" 123' - 2"
1BR 2BR STUDIO 1BR
Level 10 Level 10
113' - 6" 113' - 6"
1BR 2BR STUDIO 1BR
Level 09 Level 09
103' - 10" 103' - 10"
1BR STUDIO STUDIO STUDIO
Level 08 Level 08
94' - 2" 94' - 2"
1BR
COMMON AREA COMMON AREA 1BR
Level 07 Deck Level 07 Deck
80' - 0" 80' - 0"
PARKING
Level 06 Parking Level 06 Parking
65' - 4" 65' - 4"
PARKING
Level 05 Parking
56' - 0"
PARKING
Level 04 Parking Level 04 Parking
46' - 8" 46' - 8"
OFFICE BOH PARKING 1BR
Level 03 Office Level 03 Office
34' - 4" 34' - 4"
OFFICE BOH PARKING 1BR
Level 02 Office Level 02 Office
22' - 0" 22' - 0"

RETAIL 1 RETAIL 4

Level 01
0' - 0"

Section A
A
1" = 20'-0"

T H E H U B @ O V E R T O W N 35
LIVE.WORK.PLAY.

T H E H U B @ O V E R T O W N 36
LIVE.WORK.PLAY.
LANDSCAPE LIST
TREE GRATES (TYP.)
SEE L-1 SHEET FOR N.W. 8TH STREET 30'-0" O.C.
TREES
DETAIL (TYP.)
SYMBOL QUAN. PROPOSED MATERIAL DESCRIPTION
*Quercus virginiana 12' HT. X 5' SPR. 2" CAL.
VISIBILITY
TRIANGLE 25' X 25' PROPERTY LINE
VISIBILITY
TRIANGLE 25'
TRIANG
24 LIVE OAK F.G.
*Coccoloba diversiflora 10' HT. X 5' SPR. 2" CAL.
14 F.G.
PIGEON PLUM
10'-0" SETBACK
Ligustrum japonicum 8' HT. X 8' SPR., MULTI TRUNK
FIRST LAYER
11 F.G.
JAPANESE PRIVET
20'-0" SETBACK
ABOVE 8TH STORY Phoenix dactylifera 'Medjool' 10' C.T.
8 MEDJOOL DATE PALM F.G.
*Roystonea elata 20' O.A. HT. MIN.
16 ROYAL PALM F.G., MATCHED HTS.
RETAIL 1
15,700 SF. Veitchia montgomeryana 'single' 16'-20' O.A. HT. MIN.
12 SINGLE MONTGOMERY PALM F.G., STAGGERED HTS.

SHRUBS AND GROUNDCOVERS

LAWN
SYMBOL QUAN. PROPOSED MATERIAL DESCRIPTION

30'-0" O.C.
30'-0" O.C.

OFFICE LOBBY
STAIR

(TYP.)
(TYP.)

#3 STAIR Aechmea blanchettiana 36" HT. X 24" SPR.


LOBBY #4 STAIR AB 15 10" POT
#5 BRIGHT YELLOW BROMELIAD
Bougainvillea 'Barbara Karst' 30" HT. X 24" SPR. / 24" O.C.
BG 14 3 GAL., TRL
LOADING TRASH ROOM
LOADING BARBARA KARST BOUGAINVILLEA
AREA AREA
Codieaum variegatum 'Mammey' 18" HT. X 18" SPR. / 18" O.C.
CV 350 3 GAL.
RED - YELLOW CROTON
Ficus microcarpa 'Green Island' 15" HT. X 15" SPR. / 18" O.C.
FM 510 3 GAL.
VISIBILITY GREEN ISLAND FICUS
TRIANGLE 10' X 10' 24" HT. X 24" SPR. / 24" O.C.
Schefflera arboricola
SERVICE DRIVE VISIBILITY
SA 611 GREEN SCHEFFLERA 3 GAL.
TRIANGLE 10' X 10'
Stenotaphrum secundatum 'Floratam'
LAWN As SOLID EVEN SOD
PROPERTY LINE

PROPERTY LINE
N.W. 2ND AVENUE

Required ST. AUGUSTINE GRASS

N.W. 1ST COURT


* DENOTES NATIVE SPECIES
STAIR STAIR
#6 #7

BOH

RETAIL 2
RETAIL 4 1,820 SF.
BOH
29 PARKING SPACES

LAWN
LOADING LOADING AREA
AREA

7244
METRO
TRASH ROOM Tree Grate
8.00% RAMP DOWN @ 16.00%
VISIBILITY
RAMP UP @ 8.00% VISIBILITY 48" x 72" Tree grate in
TRIANGLE 10' X 10' two sections for
TRIANGLE 10' X 10'
pedestrian loads only
1/2" Maximum slot
opening for A.D.A.
STAIR compiance and
#1 STAIR pedestrian safety
RAMP UP @ 8.00%
#2 Cast from 100% recycled
gray iron
or Aluminum
or Brass alloy C854
Yellow brass
Tree opening:

4'-0"
See Note 12", 17", 22", 27"
Grates can be ordered
with or later expanded
to these openings.
Please specify when
RETAIL 3 COMMUNITY ordering.
LOBBY
AREA Finish: Unfinished or
Black Dip, or
Enamel paint, or
Polyurethane paint, or
Powder coat.
Zinc undercoat
available.
Specify finish and color
Use frame model: 48x72F
20'-0" SETBACK
ABOVE 8TH STORY 6'-0" Weight:
iron = 418 lb./ 190 kg
Aluminum: 156 lb./ 71 kg
10'-0" SETBACK
FIRST LAYER
DO NOT SCALE DRAWING

1"
2"
VISIBILITY VISIBILITY
PROPERTY LINE TRIANGLE 25' X 25' 41-701 Corporate Way #3
TRIANGLE 25' X 25'
Palm Desert, CA 92260
PROPRIETARY AND CONFIDENTIAL (800) 338-4766
30'-0" O.C. This drawing embodies a confidential design of IRONSMITH, INC. Palm Desert, CA. All design, manufacturing, reproduction, use, sale, and other rights regarding the same are expressly reserved. This drawing is submitted under confidential relationship for
a specific purpose and the recipient agrees by accepting this drawing not to supply or disclose any information regarding it to any unauthorized person or to incorporate any special feature peculiar to this design in other projects. The information in this
drawing may be covered completely or in part by patents pending.
(760) 776-5080 Fax
(TYP.)

1 TREE GRATE DETAIL


L-1 SCALE: 3/4"=1'-0"
N.W. 7TH STREET

SHEET INDEX:

L-1 GROUND LANDSCAPE PLAN


L-2 7th LEVEL LANDSCAPE PLAN
L-3 LANDSCAPE DETAILS

GROUND LANDSCAPE PLAN NORTH

Scale: 1"=20'-0"

T H E H U B @ O V E R T O W N 37
27
LIVE.WORK.PLAY.
LANDSCAPE LIST
TREES
SYMBOL QUAN. PROPOSED MATERIAL DESCRIPTION
*Quercus virginiana 12' HT. X 5' SPR. 2" CAL.
N.W. 8TH STREET 24 LIVE OAK F.G.

*Coccoloba diversiflora 10' HT. X 5' SPR. 2" CAL.


14 F.G.
PIGEON PLUM
PROPERTY LINE
Ligustrum japonicum 8' HT. X 8' SPR., MULTI TRUNK
11 F.G.
JAPANESE PRIVET
10'-0" SETBACK
FIRST LAYER Phoenix dactylifera 'Medjool' 10' C.T.
8 MEDJOOL DATE PALM F.G.
20'-0" SETBACK
ABOVE 8TH STORY *Roystonea elata 20' O.A. HT. MIN.
16 ROYAL PALM F.G., MATCHED HTS.
UNIT 1 UNIT 2 UNIT 3 UNIT 4 UNIT 5 UNIT 6
Veitchia montgomeryana 'single' 16'-20' O.A. HT. MIN.
982 SF
2BR 1BR
662 SF 662 SF
1BR 1BR
662 SF 662 SF
1BR 1BR
659 SF UNIT 7
983 SF
12 SINGLE MONTGOMERY PALM F.G., STAGGERED HTS.
2BR

BOH
SHRUBS AND GROUNDCOVERS
SYMBOL QUAN. PROPOSED MATERIAL DESCRIPTION
Aechmea blanchettiana 36" HT. X 24" SPR.
AB 15 10" POT
BRIGHT YELLOW BROMELIAD
ELEV. UNIT 8
LOBBY TRASH 1BR STUDIO COMMON AREA STAIR 2BR
Bougainvillea 'Barbara Karst' 30" HT. X 24" SPR. / 24" O.C.
RM UNIT 10
UNIT 9
SA SA
#4 986 SF STAIR BG 14 3 GAL., TRL
83 165 #5 BARBARA KARST BOUGAINVILLEA
677 SF
434 SF Codieaum variegatum 'Mammey' 18" HT. X 18" SPR. / 18" O.C.
CV 350 3 GAL.
RED - YELLOW CROTON
Ficus microcarpa 'Green Island' 15" HT. X 15" SPR. / 18" O.C.
FM 510 3 GAL.
GREEN ISLAND FICUS
Schefflera arboricola 24" HT. X 24" SPR. / 24" O.C.
SA 611 GREEN SCHEFFLERA 3 GAL.
Stenotaphrum secundatum 'Floratam'
POOL BG
LAWN As
Required
SOLID EVEN SOD
ST. AUGUSTINE GRASS
7
SA CV SA * DENOTES NATIVE SPECIES
58 175 60

N.W. 1ST COURT


N.W. 2ND AVENUE

SA AB SA
160 15 85

PROPERTY LINE
PROPERTY LINE

DN

FM
510
CV
175
BG
7
POOL

COMMON AREA
1414 SF

UNIT 1
TRASH
ELEV.
UNIT 2 UNIT 3
LIVE OAK LIGUSTRUM PIGEON PLUM
LOBBY 649 SF 785 SF
1056 SF 2BR 2BR RM COMMON AREA 2BR
STAIR
#1

2BR STUDIO 1BR STUDIO 1BR 1BR STUDIO 2BR


UNIT 11 UNIT 10 UNIT 9 UNIT 8 UNIT 7 UNIT 6 UNIT 5 UNIT 4
1051 SF 435 SF 666 SF 598 SF 433 SF 666 SF 433 SF 1051 SF

20'-0" SETBACK
ABOVE 8TH STORY

10'-0" SETBACK
FIRST LAYER

PROPERTY LINE

N.W. 7TH STREET


'MEDJOOL' DATE PALM ROYAL PALM STAGGERED VEITCHIA PALMS

7th LEVEL LANDSCAPE PLAN NORTH

Scale: 1"=20'-0"

BRIGHT ORANGE BROMELIAD GREEN ISLAND FICUS TRAILING BOUGAINVILLEA 'MAMMEY' CROTON GREEN SCHEFFLERA

T H E H U B @ O V E R T O W N 38
LIVE.WORK.PLAY.
2"x2"x 2'-0" P.T. PINE
WOOD STAKE OR #5
RE-BAR 2'-0" LONG
TRIM ONLY DEAD AND BROKEN
TREE PIT FRONDS - DO NOT CUT CENTRAL
LEADER
DO NOT CUT CENTRAL LEADER THIN BRANCHES BY 25% -
ROOT BALL
RETAIN NATURAL SHAPE OF REINFORCED RUBBER WRAP (5) LAYERS OF BURLAP TO
THIN BRANCHES BY 25% - RETAIN PLANT - PAINT ALL CUTS OVER HOSE TRUNK AT POINT OF SUPPORT
NATURAL SHAPE OF PLANT. PAINT 4" DIA. WITH TREE PAINT - DO 120 120
BLACK WELLINGTON 21"
ALL CUTS OVER 1/2" DIAMETER NOT CUT CENTRAL LEADER (3) 2" x 4" x 6" P. T.
WIDE NYLON TAPE

OVERALL HEIGHT
WITH TREE PAINT BLACK WELLINGTON 1/2" 120 PINE WOOD CLEATS . WIRE WITH
BLACK WELLINGTON 1/2" WIDE WIDE NYLON TAPE GALVANIZED METAL STRAP AS
TREES OF SAME SPECIES TO
NYLON TAPE BE MATCHED IN GROWTH CHARACTER SUPPORT FOR WOOD BRACERS -
REMOVE BURLAP FROM TOP OF DO NOT NAIL BRACES TO THE TRUNK
PLAN

CLEAR TRUNK
ROOT BALL MINIMUM 2" x 2" x 6" P. T. (3) 2" x 4" P. T. PINE
GUY WIRE - #12 DOUBLE STRAND PINE WOOD STAKES WOOD BRACE @ 120 DEGREES APART.
3" MULCH LAYER, GRADE "A" TWISTED - WRAP TWICE AROUND TREE

GREY WOOD
OR #5 RE-BAR TWO PER PAINT TO MATCH TRUNK COLOR
TRUNK WITH TWO-PLY RUBBER HOSE TREE - POSITION TO DETAIL
2" LAYER OF NEW TOPSOIL IF REQUIRED
AT ALL POINTS OF CONTACT - SECURELY STABILIZE TREE BLACK WELLINGTON 21"

1/3 HEIGHT
OF TRUNK
4" EARTH BERM ATTACH WIRE TO STAKES. WIDE NYLON TAPE
FINISH GRADE
MINIMUM 2" x 2" x 2" x 0" P.T. PINE
WOOD STAKE OR #5 RE-BAR 2'-0"
LONG. POSITION TO SECURELY 2" x 4" x 12" PINE FOOTPAD
4" EARTH BERM MINIMUM 2" x 2" x 2" x 0" P.T. PINE
STABILIZE TREE WOOD STAKE OR #5 RE-BAR 2'-0" FOR SOFT SOIL CONDITIONS SUCH NOTE: ALL PALMS WITH A
3" MULCH LAYER, 60
LONG. POSITION TO SECURELY AS SAND, BURIED 3" BELOW GRADE CLEAR TRUNK HEIGHT OF
BACKFILL GRADE "A"
STABILIZE TREE 6' FEET OR MORE ARE TO
2" LAYER OF NEW TOPSOIL 4" EARTH BERM BE STAKED.
EXISTING SUBSOIL BACKFILL SOIL
3" MULCH LAYER,
EXISTING SUBSOIL GRADE "A" BACKFILL SUBSOIL
9" PLANT 9" EXISTING SUBSOIL
12" ROOT 12" REMOVE BURLAP FROM TOP BALL 2" LAYER OF NEW TOPSOIL 12" ROOT 12"
MIN. BALL MIN. OF ROOT BALL MIN. BALL MIN.

LARGE TREE PLANTING DETAIL SMALL TREE PLANTING DETAIL TYPICAL TREE GUYING DETAIL STRAIGHT TRUNK PALM PLANTING DETAIL

NOTE: IN MOST CASES, TRIANGULAR SPACING IS PREFERRED.


BRACERS USE SQUARE SPACING ONLY IN SMALL RECTILINEAR AREAS.
TRUNK DISTANCE BETWEEN PLANTS
CROSSMEMBER SHOULD BE FAR ENOUGH TO ALLOW
PLANTS TO REACH MATURE SIZE
BURLAP WITHOUT INTERFERING WITH
DISTANCE TO CENTERLINE GROWTH OF ADJACENT PLANT EQUA
WILL VARY ACCORDING TO MATERIALS L
PLANT MATERIAL SHALL NOT BE SPECIES AND HABITAT OF

EQUAL
PRUNED PRIOR TO INSTALLATION - GROWTH SO THAT MATURE
FOOT PAD AFTER PLANT HAVE BEEN INSTALLED, PLANTS WILL NOT OVER LAP

AL
EACH PLANT SHALL BE PRUNED FOR ONTO SIDEWALK,

U
EQ
BRACING DETAIL STRUCTURES,
UNIFORMITY
PAVED AREAS, ETC.

*
WRAP (5) LAYERS OF
BURLAP TO TRUNK AT 3" MULCH AS SPECIFIED SPACING AS
OVER ALL PLANTING BEDS PER PLANS
POINT OF SUPPORT
* TRIANGULAR SPACING
SQUARE SPACING
2" X 4" CROSSMEMBERS LIMIT OF SOD LINE - ALL
SOD TO BE LAID AS PER
VERTICAL HEIGHT

NAILED TO BRACES SPACING AS


DRAWINGS PER PLANS
1/3 VERTICAL

(SEE LANDSCAPE PLAN) MULCH EDGING - ALL PLANT


2 (2" x 4") WOOD
HEIGHT

SIDEWALK BEDS ADJACENT TO SOD AREAS


BRACERS IN " X"
SHAPE NAILED SHALL RECEIVE A 3" DEEP
TOGETHER (see LAYER OF MULCH TOP OF MULCH
detail above) LIMIT OF SOD LINE - ALL SHALL BE 1/2"
SOD IS TO BE LAID AS PER BELOW PAVEMENT
DRAWINGS (SEE LANDSCAPE
PLAN) PAVED WALK
2"x 4"x 12" FOOT PAD EXISTING SUBSOIL
4" EARTH BERM

6"
FOR SOFT SOIL
3" MULCH LAYER, CONDITIONS SUCH AS *
GRADE "A" SAND; BURIED 3" SPACING OF PLANTS EXISTING
MULCH EDGING - ALL PLANTING TYPICAL CURB AND GUTTER AS INDICATED ON PLANTING
2" LAYER OF NEW BELOW GRADE. BEDS ADJACENT TO SOD AREAS PLANTING SOIL MIX AS SUBSOIL
PLANT PLAN SPECIFIED
TOPSOIL SHALL RECEIVE A 4"-6" DEEP 6" 6"
12" 12" BALL
BACKFILL SOIL ROOT LAYER OF MULCH EXCAVATE TO A MIN DEPTH
MIN. BALL MIN.
EXISTING SUBSOIL PLANTING SOIL OF 12" AND BACKFILL WITH
PREPARED PLANTING SOIL

CURVED TRUNK PALM PLANTING DETAIL TYPICAL SHRUB PLANTING DETAIL TYPICAL CONTAINER SPACING DETAIL TYPICAL GROUNDCOVER PLANTING DETAIL

SOD NOTES:

-Sod is to be grade "A" weed free.


PLANTING NOTES:
-All areas marked "LAWN" shall be solid sodded with St. Augustine 'Floratam' solid sod. See limit on plan. All areas
-All plant material is to be Florida Number 1 or better pursuant to the Florida Department of Agriculture's Grades and marked 'Bahia Grass' shall be solid sodded with Paspalum.
Standards for Nursery Plants.
-Provide a 2" deep blanket of planting soil as described in planting notes this sheet. Prior to planting, remove stones,
-All plants are to be top dressed with a minimum 3" layer of Melaleuca mulch, Eucalyptus mulch or equal. sticks, etc. from the sub soil surface. Excavate existing non-conforming soil as required so that the finish grade of sod
is flush with adjacent pavement or top of curb as well as adjacent sod in the case of sod patching.
-Planting plans shall take precedence over plant list in case of discrepancies.
-Place sod on moistened soil, with edges tightly butted, in staggered rows at right angles to slopes.
-No changes are to be made without the prior consent of the Landscape Architect and Owner. Additions and or
deletions to the plant material must be approved by the project engineer. -Keep edge of sod bed a minimum of 18" away from groundcover beds and 24" away from edge of shrub beds and
36" away from trees, measured from center of plant.
-Landscape Contractor is responsible for providing their own square footage takeoffs and field verification for 100%
sod coverage for all areas specified. -Sod Shall be watered immediatley after installation to uniformily wet the soil to at least 2" below the bottom of the sod
strips.
- All landscape areas are to be provided with automatic sprinkler system which provide 100% coverage, and 50% -Excavate and remove excess soil so top of sod is flush with top of curb or adjacent pavement or adjacent existing
overlap. sod.

- All trees in lawn areas are to receive a 24" diameter mulched saucer at the base of the trunk.
GENERAL NOTES:
- Trees are to be planted within parking islands after soil is brought up to grade. Deeply set root balls are not
acceptable.
-The Landscape Contractor is to locate and verify all underground and overhead utilities prior to beginning work.
Contact proper utility companies and / or General Contractor prior to digging for field verification. The Owner and the
- Planting soil for topsoil and backfill shall be 50/50 mix, nematode free. Planting soil for annual beds to be comprised
Landscape Architect shall not be responsible for any damages to utility or irrigation lines (see Roadway Plans for
of 50% Canadian peat moss, 25% salt free coarse sand and 25% Aerolite.
more utility notes).
- Tree and shrub pits will be supplemented with "Agriform Pells", 21 gram size with a 20-10-5 analysis, or substitute
-Landscape Contractor is to verify all current drawings and check for discrepancies and bring to the attention of the
application accepted by Landscape Architect. Deliver in manufacturer's standard containers showing weight, analysis
Landscape Architect prior to commencing with the work.
and name of manufacturer.
-All unattended and unplanted tree pits are to be properly barricaded and flagged during installation.

-All planting plans are issued as directives for site layout. Any deviations, site changes, etcetera are to be brought to
the attention of the Landscape Architect for clarification prior to installation.

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UNIT MIX BREAKDOWN

UNIT MIX
TOTAL
FLOOR UNIT TYPE DESCRIPTION SQ.FT. # UNITS # FLOORS #UNITS TOTAL AREA
2ND - 3RD FLOOR
A-1 1BR-1BATH 805 6 2 12 9660
B-1 2BR-2BATH 910 2 2 4 3640
7TH FLOOR
A-2 1BR-1BATH 662 9 1 9 5958
A-3 1BR-1BATH 600 1 1 1 600
B-2 2BR-2BATH 980 1 1 1 980
B-3 2BR-2BATH 983 1 1 1 983
B-4 2BR-2BATH 990 1 1 1 990
B-5 2BR-2BATH 955 1 1 1 955
B-6 2BR-2BATH 923 1 1 1 923
B-7 2BR-2BATH 986 2 1 2 1972
ST-1 1BR-1BATH 434 4 1 4 1736
8TH - 16TH FLOOR
A-2 1BR-1BATH 662 10 9 90 59580
A-3 1BR-1BATH 600 1 9 9 5400
A-4 1BR-1BATH 700 1 9 9 6300
A-5 1BR-1BATH 742 1 9 9 6678
B-2 2BR-2BATH 980 1 9 9 8820
B-3 2BR-2BATH 983 1 9 9 8847
B-4 2BR-2BATH 990 1 9 9 8910
B-5 2BR-2BATH 955 1 9 9 8595
B-6 2BR-2BATH 923 1 9 9 8307
B-7 2BR-2BATH 986 2 9 18 17748
B-8 2BR-2BATH 934 1 9 9 8406
ST-1 1BR-1BATH 434 8 9 72 31248
17TH - 35TH FLOOR
A-2 1BR-1BATH 662 4 19 76 50312
A-3 1BR-1BATH 600 1 19 19 11400
A-4 1BR-1BATH 700 1 19 19 13300
A-5 1BR-1BATH 742 1 19 19 14098
B-5 2BR-2BATH 955 1 19 19 18145
B-6 2BR-2BATH 923 1 19 19 17537
B-7 2BR-2BATH 986 2 19 38 37468
ST-1 1BR-1BATH 434 5 19 95 41230
TOTAL 602 410,726

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SUMMARY OF DEVELOPMENT PROGRAM


GROSS AREA
FLOOR NORTH TOWER SOUTH TOWER NORTH+SOUTH # OF FLOORS TOTAL
GROUND FLOOR 66,019 SF 1 66,019 SF
2ND - 3RD LEVEL 67,666 SF 2 135,332 SF
4TH LEVEL 68,000 SF 1 68,000 SF
5TH LEVEL 65,540 SF 1 65,540 SF
6TH LEVEL 65,540 SF 1 65,540 SF
7TH LEVEL (REC DECK) 65,700 SF 1 65,700 SF
8TH - 16TH LEVEL (TYPICAL) 12,356 SF 14,885 SF 27,241 SF 9 245,169 SF
17TH - 35TH LEVEL (TYPICAL SOUTH TOWER) 14,885 SF 14,885 SF 19 282,815 SF
ROOF LEVEL 12,356 SF 14,885 SF 27,241 SF 1 27,241 SF

TOTAL GROSS AREA 1,021,356 SF

LEASABLE AREAS
FLOOR NORTH TOWER SOUTH TOWER NORTH+SOUTH # OF FLOORS TOTAL
GROUND FLOOR 25,635 SF 1 25,635 SF
2ND - 3RD LEVEL 19,885 SF 2 39,770 SF
7TH LEVEL (REC DECK) 7,359 SF 7,738 SF 15,097 SF 1 15,097 SF
8TH-16TH LEVEL (TYPICAL) 9,161 SF 10,710 SF 19,871 SF 9 178,839 SF
17TH-35TH LEVEL (TYPICAL SOUTH TOWER) 10,710 SF 10,710 SF 19 203,490 SF

TOTAL LEASABLE AREA 462,831 SF

UNIT MIX
NORTH TOWER SOUTH TOWER
FLOOR ST 1BR 2BR NORTH TOTAL ST 1BR 2BR SOUTH TOTAL TOTAL
2ND LEVEL 0 0 0 0 0 6 2 8 8
3RD LEVEL 0 0 0 0 0 6 2 8 8
7TH LEVEL (REC DECK) 1 6 3 10 3 4 4 11 21
8TH-16TH LEVEL (TYPICAL) 27 54 36 117 45 63 36 144 261
17TH-35TH LEVEL (TYPICAL SOUTH TOWER) 0 0 0 0 95 133 76 304 304
TOTAL 28 60 39 127 143 212 120 475 602
% 22.0% 47.2% 30.7% 30.1% 44.6% 25.26%

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Workforce Housing
Miami has been consistently considered one of the most expensive rental markets in the nation. According to a
study released in November 2017 by Apartment List, Miami ranked last in a list of top 100 cities ranked by
affordability, which is to say the spread between rental prices in relation to income. Additionally, almost 63% of
renters are considered cost-burdened (those spending 30% or more of their income on rent) and almost 34%
are considered severely cost-burdened (those spending 50% or more of their income on rent). The Hub @
Overtown is committed to addressing this issue head on by providing more price-friendly options with a well
balanced mix of affordable, workforce, and market rate housing within the development.

According to the Miami-Dade County Workforce Housing Development Program, “workforce housing is defined
as housing that is affordable to families whose incomes are within 60% to 140% of the County's area median
income as reported by the United States Department of Housing and Urban Development and adjusted to
family size ($42,600 to $99,400, respectively, for a family of four)”. The following table details the income and
rent limits according to percentage of income in relation to the median income, number of people in a
household, and rent limits by numbers of bedrooms within a unit.

The Hub @ Overtown affirms that the project will exceed a minimum of 40% of the total square footage
dedicated to residential and at least 25% of that square footage to be used for affordable and workforce
housing.

The Hub’s design provides for 89% of the leasable square footage to be residential and the remaining 11% of
leasable square footage to be retail. The following table provides a breakdown of the slated unit mix across the
project and a chart indicating the mix of affordable, workforce, and market rate housing that is planned. During
the initial lease-up the anticipated unit mix shall consist of 21% affordable housing at 60% of AMI, 29% workforce
housing at 120% of AMI, 34% workforce housing at 140% of AMI, and the remaining 16% market rate housing.

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Proposed Lease Up Unit Mix

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Proposed Lease up Rents

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Proposed Station Improvements


Station Background:
The Historic Overtown Lyric Theater Metrorail Station is an ele-
vated center platform station that connects the neighborhood of
Overtown to the Metrorail Mass Transit System. The platform is
approximately 330 feet long, 40 feet wide. A canopy covers the
platform to protect riders from rain as they wait for the train.
Patrons can access the platform via stairs, escalators, or an
elevator from the grade level. The grade level is located directly
beneath the platform the grade level is enclosed by a
combination of stainless steel fencing and concrete walls. The
ground level has covered entrances with fare gates and one
wheelchair accessible fare gate.All vertical circulation within the
station originates and terminates from the paid zone.

Proposed Improvements:
As part of our proposal, we are allocating $2.5M of Station
Improvements to the Historic Overtown / Lyric Theater
Metrorail Station. The improvements will include a variety
of functional and aesthetic improvements to the station
and the precise scope will be determined in consultation
with DTPW. A Preliminary Scope analysis is presented for
illustration purposes:

S chedule:
The Station Improvements plans will be submitted
concurrently with building permit submission and shall be
completed in advance of building CO.

Station Improvements Preliminary Scope


The station improvements Scope will be fully developed in coordination with DTPW. As a preliminary
conceptual scope, we propose the following improvements:

1. Demolition Scope
a. Demolish the following existing station infrastructure:
i. Flooring
ii. Existing walls
iii. Other Misc. Demolition

2. Heavy Equipment
a. Replace existing elevators
b. Replace existing escalator with new one

3. Other Equipment
a. Replacement of surveillance system CCTV
b. Replace illumination fixtures throughout the station (including ballards on second level)
c. Add some illumination on the exterior
d. Replace seating benches on second level
e. Add adequate ventilator systems to ensure air flow throughout station

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4. Landscaping
a. Add ground floor landscaping around station walls

5. Hardscaping
a. Replace flooring throughout ground and second level of station
b. Re-do existing walls

6. Other
a.New Signage throughout the station
b. Pressure clean entire station
c. Misc. Concrete repairs
d. New coat of paint where appropriate
e. Clean railings on stairs but preserve as these appear in good condition

Historic Overtown Lyric Theater Metrorail Station - Proposed Improvement Scope

Item Area SF Units Price $/SF or $/Unit Total


Demolition Allowance
Second level (remove flooring) 12,000 $2 $24,000
First Level (remove flooring) - Includes exterior wait area 15,000 $2 $30,000
Walls 1,500 $10 $15,000
Exterior Area Pavement removal 1,000 $10 $10,000
Other Misc. Demolition 1,000 $10 $10,000
Demolition - Total $89,000
Heavy Equipment
Replacement of Passenger Elevator $500,000
Escalator Replacement $550,000
Heavy Equipment - Total $1,050,000
Other Equipment
Replacement of Surveillance systems (CCTV) 10 $4,500 $45,000
Traffic monitoring systems (Transit screens) $15,000
Illumination (new fixtures) 100 $950 $95,000
Illumination (exterior) $150,000
Other Equipment - Total $305,000
Landscaping
Ground Floor - around station walls 2,000 $20 $40,000
Landscaping - Total $40,000
Hardscaping
Canopies and allowance for entrance design feature $30,000
Flooring - Second Level 15,000 $14 $252,000
Flooring - First Level 20,000 $10 $200,000
Re-do existing walls 1,800 $10 $18,000
Hardscaping - Total $500,000
Other
Signage allowance (including for entire development) $30,000
Pressure clean entire station $40,000
New Coat of Paint $60,000
Other - Total $130,000
Total HC $2,114,000
Soft Costs (insurance, consultant’s fees, etc.) 15% $317,100
Contingency 4% $97,244
Total $2.5MM

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The proposed Station Improvement plan for the renovation of The Historic Overtown Lyric Theater Metrorail
Station will incorporate a wide-reaching set of measures to mitigate any impacts on the neighboring community.
The construction plan will focus on:
1. Protecting the safety of the general public and MDT Employees
2. Protecting the guide way system and the MDT property from physical damage
3. Preserving the level of service and operational schedules so as to cause the least disruption for the
1. ridership and use of the MDT system.

Construction Mitigation
Any construction work which may have any impact on the Metrorail will be scheduled during the Non-Peak
Operating Hours or Nonrevenue Hours. Construction work that may impact weekend or special operational
conditions will be limited or nonexistent. If parts of the construction impacts an MDT station entrance and/or the
public, the venture will include in our submittal plans temporary pedestrian and vehicular traffic circulation for
any affected areas. Where construction will be adjacent to or above a Metrorail station entrance, the venture will
detail the protection mechanisms that will be utilized over the escalators in accordance with DTPW's “Overhead
Protection” manual.

We will provide the construction plans, the shop drawings or the working drawings showing the phasing
of adjacent construction as well as the detailed plan for overhead protection, pedestrian barricades, and
sidewalk protection. Any requests for relocation of bus stops and bus shelters shall be clearly shown on the
submitted plans. Barricades and signing necessary to direct the public through the construction zone will
be included as well. All construction plans will be focused on limiting impacts on MDT landscaping, street
furniture, pylons, bus shelters and light fixtures.

Metro Facilities
Clear access will be available on a 24-hour basis for ingress and egress for transit patrons, fire and rescue
personnel, and maintenance personnel. A contact person who be named by the venture will act as liaison
with the MDT Office of Safety and Security for all matters related to safety of the MDT System. The venture
will also select a contact to serve as the liaison with the MDT Metrorail/Metro mover Operations Division for all
matters related to operation of the Transit System.

All improvements, stylistic and functional will be submitted for DTPW approval.

Other Protective Measures


Prior to the engineering survey of the building exterior and other invasive activities, we view it as necessary to
fully protect the public and in particular, DTPW facilities. Every sidewalk, train guide way, station platform, stairs,
escalator, or public thoroughfare adjacent to or near enough to be affected by the operations on the building
shall be closed.

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Describe in detail the measures to be taken to identify,
monitor, mitigate and remediate any negative impacts
to transit operations, transit facilities, vehicular and
pedestrian traffic patterns, and the neighborhood (i.e.
noise, lighting, potential worksite hazards, etc). during
and after construction.

The first order of business will be to conduct a survey of the surrounding properties, streets, sidewalks, utilities
services and public transportation services. Once this survey is conducted we then produce an Operational (Site
Utilization) and Safety plan, which is updated on a periodic basis.

This plan will addresses such items has project logistics, project housekeeping, crane operation, MOT (traffic
patterns), safety procedures, security procedures, work hours and monitoring program.

The developer intends to provide certified Maintenance of Traffic plans for vehicular and pedestrian traffic adja-
cent to the construction area. Any redirection of traffic will be kept to a minimum, so impacts to transit facilities
are minimized. Temporary striping and signage will be provided as per the certified drawings and overhead
protection lighting will be provided as necessary.

A traffic barrier and a temporary construction fence with screening fabric will be erected around the perimeter
of the property to ensure separation of worksite activities and personnel from the adjoining neighborhood.
Construction work hours will be governed by local codes or the authority having jurisdiction and light levels will
be monitored to ensure construction activities do not infringe on neighboring persons and properties.

The developer will use best efforts to direct deliveries, hoisting and away from transit facili-ties, and a traffic
flow plan will be developed for erection and dismantling of construction cranes, as well as, daily deliveries to
the site. All deliveries will be directed by experienced flagging personnel. The site will be routinely monitored
to ensure all safeguards remain in place during construction. All safeguards will remain in place until the
building receives a Certificate of Occupancy from the building department.

See site utilization and Safety plan provided for a recent successfully completed project (1010 Brickell) in Miami.

Demolition Plan
The Sponsors understand that the site will be assigned as is and hence, the construction plan will include
provisions for the demolition and disposition of any portion of the existing guardhouse and ticket apparatus on
the Site that will not be utilized for the new Project.

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Parking Analysis
In addition to having sufficient parking to accommodate the mixed-use components of The Hub (602
residential units, 26,470 SF of office and 25,635 SF of retail), the development also will also provide approx.
400 daytime public parking spaces for the Overtown neighborhood. This is a significant increase the 235
spots that currently serve the community.

The proposed new development was designed with common access / egress for residential, office, and public
parking users. Since Residential usage is heavier at nights while Office and Public Parking is heavier during the
day, The Hub will have a parking sharing strategy to create the highest possible economic and community
benefit.

Below is a summary of the parking provided within the proposed development:

Parking Supply Parking Minimum Requirement by Code


Garage
Ground 29 Ratio SF / Units Reductions Spaces Needed
82 Affordable / Workforce Tower 127.0 1.5 30% TOD & 35% on Affordable units 67
96
Workforce / Market Rate Tower 475.0 1.5 30% TOD 499
161
Retail (SF) 25,635 3.0 30% TOD, 1.4 Shared 38
161
Office (SF) 26,470 1/800SF 30% TOD, 1.4 Shared 16
161
Visitor 0.1 60
Built Supply 690
Totals 680

The 690 Parking spaces provided suffice the parking space requirement by code. From a demand perspective,
given the high level of connectivity in the area and the mixed-use nature of the development, we expect daily
parking usage to vary widely depending on the hour of the day. Below is our estimate of hourly parking
demand:

In addition to the community benefit of increased accessibility and parking in the Overtown area, the 400
com-munity parking spaces will generate significant economic value to the venture. Please refer to the
Revenue Analysis provided by a 3rd party parking consultant on the Appendix C.

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Zoning
The Site is located in the City of Miami which is governed by its Miami 21 code in setting its development
regulations and parameters. Even though the subject site falls within the city of Miami T6-24A-O (Urban Core).
From an urbanistic perspective, the goal of the sponsors is to balance maximizing the economic highest and best
use of the site with the transitional nature of the neighborhood. The goal is to transition from downtown's dense
skyline to the lower density residential areas in Overtown (to the north and to the west). We achieve this through
two independent towers. The south tower is higher, while the north tower is lower. The architectural intent is to
use this development as a transition to bring Downtown into Overtown. Therefore, The Hub was designed in a
way that respects the transitional context of the neighborhood.

Consistent with the fast-tracked strategy, the Hub can be approved administratively without a public hearing.

Property / Zoning information

Zoning T6-24A-O
Lot Area 90,000
Lot Coverage (80%) (SF) 65,780
Limit by Zoning The Hub Design
Density (300 / acre) (Units) 619 602
F.L.R (7xLot + 30% Public Benefit) (SF) 819,000 465,000

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ZONING DETAILS

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Description of Energy Efficient Features Planned


for the Development
LEED Process
13AC shall design and construct The Hub in a way that promotes environmental quality, economic vitality and
creates an environment that aspires to provide the highest level possible of operational efficiency. This shall be
accomplished through energy, water, and materials efficiency that provides a healthy, productive and com-
fortable environment with long-term benefits. 13AC will work toward incorporating in both the design and
construction the requirements for the project to obtain a LEED Silver rating or equivalent designation such as
Florida Green Building Coalition. The design is based on the Federal Leadership in High Performance and Sus-
tainable Buildings Memorandum of Understanding five Guiding Principles, which are:

I. Employing integrated design – 13AC will use the Integrated Design Process (IDP) from the beginning of design.
The initial charrette will include all members of 13AC and the Owners Representatives. The purpose of the initial
charrette will be to fully understand the owners sustainability goals and then strategize, as a team, the most
effective strategies to obtain those goals. The USGBC LEED New Construction rating system or its equivalent
will be used to effectively guide the design/build team. The outcome of the initial charrette will be a LEED plan
or its equivalent that details the strategies to be used, the credits that will be pursued and the team members
responsible for each action item to obtain the credit. This plan will form the basis of the IDP and will be used as
the road map for all future charrette and design/build meetings. The use of the IDP by Adler 13th shall be
consistent with ASTM E 2348, Standard Guide for Framework for a Consensus-based Environmental Decision
Making process.

II. Optimizing energy performance – The team shall initially develop an energy model consistent with
ASHRAE Standard 90.1 appendix g. The energy model shall be used as a decision making tool to evaluate the
most ef-ficient design, within budget. Items to be evaluated through the energy model include but are not
limited to: Fenestration efficiency including U-Value and SHGF, Envelop efficiency including walls and roofs,
HVAC efficien-cy including effectively and efficiently introducing outside air, recapturing enthalpy, CO2
monitoring and control, unit type and efficiency, hot water generation and delivery, effective and efficient
daylighting including daylight harvesting, daylight dimming and advanced lighting types. All systems shall be
commissioned to ensure that the systems are meeting the Owners Project Requirements, the basis of design and
are operating as efficiently as possible. In addition, the owner’s personnel shall be fully trained in the operation
and maintenance of the sys-tems to ensure they continue to operate as designed and installed.

III. Protecting and conserving water – The team shall design to minimize water use in a number of areas. The
landscape plants that will be chosen will be native plants with low species factors to minimize watering needs.
The irrigation system will be designed to with zone controls and advanced moisture sensors to only water the
plants on an as needed basis. The water use internal to the building will be substantially reduced over EPA stan-
dards. The toilets and urinals will be low flow high efficiency fixtures, the sinks will be low flow with automatic
sensors to only allow water to flow when required. The showers will all be high efficiency shower heads. The
water reduction will be a minimum of at least 30%.

V. Enhancing indoor environmental quality – The indoor environment will be designed and constructed to help
ensure the health and well-being of all employees and visitors to the facilities. Low VOC paints will be used. All
carpets and flooring system will meet the Carpet and Rug Institutes requirements for low VOCs. All adhesives
and sealers used on the interior of the facility shall be low VOC. No urea formaldehyde shall be used in any bind-
ers. During construction, Adler 13th shall develop a plan and follow the same requirements for cleanliness as if

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they were working inside an occupied building. All duct work shall be capped and sealed. Air handlers shall not
be used unless filters are installed on all return grills. All absorptive materials shall be sealed to prevent moisture
intrusion. The HVAC systems shall be designed to ensure adequate outdoor air is being delivered to all occupied
spaces and monitored on a continuous basis. Controls will be installed to ensure occupant comfort for both
lighting levels and temperature and humidity. Natural Daylighting will be designed into the project to the great-
est extent practicable.

IV. Reducing the environmental impact of materials – The design and construction will ensure the building
treads lightly on the environment. Goals will be set and monitored for use of recycled materials such as re-
bar and beams, gypsum board, floor systems, ceiling systems and finish material. In addition materials will be
sourced that are extracted and manufactured locally to the greatest extent possible. This will help reduce the
embodied energy of the materials. Wood will be sourced from forest that adhere to the sustainable require-
ments of the Forest Stewardship Council to the greatest extent practicable. Construction waste makes up a large
percentage of all waste delivered to landfills. For The Hub, a goal has been established that at least 75% of all
contraction waste shall be diverted from the landfill and recycled back into the manufacturing process. The Hub
promises to set the standard for energy and economic efficiency in Miami urban development.

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Proposer’s Approach to Project Organization, Management,
and Maintenance

The 13AC have assembled a best in class team to execute on all aspects of The Hub @ Overtown. The team is
organized by discipline with specific personnel assigned to perform, manage or oversee every task required to
complete the process and manage the completed project. We have a team approach to development and
project organization with multiple members of 13th floor and Adler engaged in every component of the
development and management process. The team works towards consensus building through or collaborative
approach and process. We consistently have regularly scheduled and ad hoc in person meetings to resolve any
issues and make decisions.

Lease Negotiation
The 13 Adler team has substantial experience working with the DTPW on negotiating ground leases and
development agreements for Motion at Dadeland, Link and Douglas, and 1010 Brickell. The team will utilize its
experience to fast track the lease negotiating process and use the same legal team at Greenberg Traurig of
Nancy Lash and Ryan Bailine. Additionally Michael M. Adler, Arnaud Karsenti, Jonathan Raiffe and Aaron Stolear
shall lead the lease negotiating team for the Proposer and be present at the meetings.

Design
The design process will be led by Rey Melendi, Jonathan Raiffe, and Aaron Stolear. Robert Behar will be the lead
architect and provide all the construction drawings. Neil Hall will be the design consultant and provide guidance
on the aesthetic and functional integration of the project components. The Design team plans to have regular
and consistent weekly meetings.

Permit and Approvals


The permit and approval process will be led by Rey Melendi and David Adler working closely with Matt and
Michael Causley of MTCI to expedite the permitting process. 13 AC have longstanding relationships with officials
at the County and City, having permitted and approved numerous projects. The team takes an active approach
from pre-submittal meetings to on going follow-up with different discipline approvals and departments. The
team will start with a foundation permit and then proceed with a building permit to allow construction to begin
as quickly as possible.

Construction
All of the team members, consultants, and sub contractors will work together on making sure the construction of
the project moves forward smoothly on time and stays on budget. There will be weekly and monthly meetings
with the development team contractor, sub contractors, general contractor, architect, and engineers to track all
items on the budget draws and schedule. The Development team has past experience working with Civic, the
general contractor, and a very strong working relationship.

Property Management and Maintenance


The ongoing property management and maintenance of the Property during the lease term will be the
responsibility of 13AC. 13AC have decades of experience managing and maintaining property with a dedicated
team of financial and property professionals. There will be a dedicated team that will include a property
manager, assistant property manager, property accountant, facilities manager, and maintenance personnel.
Greystar Property management will act as the day property manager for the south tower, Cornerstone for the
north tower, and 13 Adler for the commercial/retail space.

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Compliance with Design Guidelines

The Project complies with all applicable requirements outlined by the Florida Building Code, the City of Miami
Planning Department, the City of Miami Zoning Code (Miami 21), the requirements imposed by the RFP, along
with the to be negotiated Lease Agreement.

The design team will work toward incorporating, in both the design and construction, the requirements for the
project to obtain a LEED silver rating (or equivalent designation such as Florida Green Building Coalition, to be
negotiated).

The Hub @ Overtown will be visually appealing and welcoming to the entire community

The building will be positioned to provide ample setback from all the surrounding streets offering a wide
pedestrian friendly sidewalk and open space with inviting and welcoming hardscape and landscape features.
Both the sidewalk and the building will have ample lighting that will enhance the nighttime aesthetic, while
providing a safe walking environment. The Property will have distinct entrances and exits with clearly marketed
signage for ingress and egress as well as internal way-finding signage for residents, workers and visitors. Most of
the residential units are in the 2 towers, setback from the podium and positioned along 8th street and 7th street,
with only units at the end of the towers facing NW 2nd ave above the podium.

The design and feel of each aspect of the Project, as well as the Project’s overall design, will demonstrate
Bahamian themed architectural style in a creative, modern setting that enhances the neighborhood.

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5
Community Development
and Marketing
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Community Development
The Hub @ Overtown is a development project that is representative of the community it will serve. The team is
focused on a variety of strategies, before, during and after construction to induce the aesthetic, physical, social, and
economic revitalization of the Overtown community. In advance of establishing our development plan and program,
the team conducted a community outreach effort to engage with community stakeholders. During this process we
listened to community leaders to discuss and determine the needs of the area and the best way that the Hub @
Overtown could make a positive contribution. The conversations focused on a several key elements that would have
the most direct and tangible impact.

Mixed Income Housing

Over the past several years Overtown has seen the development of several affordable housing projects, but
unfortunately minimal workforce, market rate, or mixed income housing. Successful, vibrant and sustainable
communities are built of the ability to have a mix of people living in the local area. There are many past and potential
residents of overtown that would like to live in the neighborhood, but for lack of workforce and market rate housing.
These past and future residents bring with them additional disposable income to shop, eat, and play at local area
businesses. Even though the requirement is that only 25% of residential units are priced as workforce and affordable,
we are strong believers in the need to have housing that is both attainable for the local community and varied in
terms of price points. Our lease-up pricing proposes that at least 450 units or 75% of our total units falling within the
workforce and affordable rent limits.

Jobs fair, program and training

Jobs are the foundation for economic revitalization and a critical component to any community development project.
The Development team plans to coordinate with a best in class local agencies for consultation and coordination
efforts designed to assist local residents in their efforts to access job-training, job placement services, and
employment opportunities at the Project during its construction and permanent jobs after construction.

In addition, the team is partnering with URGENT, Inc., a local non-profit, to provide 10,000 sf of office space for
private career and technical education high school. Urgent is a youth and community development organization
dedicated to empowering young minds to transform their communities. Urgent demonstrates an expertise in
providing career focused internship training, paid work experience, 21st Century skill building and improving
academic performance for children and youth. The Development Team and Urgent recognize that focusing on
powering the talent development pipeline in One Community One Goal high growth industries is a key component to
accessing quality paying jobs for local residents.

Community Center

One of the most exciting and significant components of the project is the Community Center. The Development team
is partnering with the Overtown Youth Center to operate a 3,200 sf community center on the ground floor. The
community center will be designed to allow for flexibility in providing a variety of meeting spaces, office space,
counseling rooms, and a technology/coding lab. The technology/coding lab is a critical catalyst to social and
economic revitalization by providing the tools and recourses that otherwise would not be accessible. The community
center will be open to all local residents and the team will coordinate with many local non-profits on programs for
skills training in the coding lab, youth-at-risk counseling, and many more. Through a revenue-share program (0.25%
of gross revenues), profits from the development will aid the Overtown Youth Center, a non-profit organization, by
providing funding for the community center and at least one full time employee to facilitate programs and services.
In addition we will provide 1,000 SF of retail space on the ground floor for the Youth Center’s Neat Stuff clothing
distribution program.

Active Entertainment Retail

The Development team shall work will the local community to attract quality tenants that will make the project a
destination and serve as an anchor for the Overtown music and entertainment district. Through local and national
community outreach the team will solicit and provide incentives to attract entertainment retail tenants that utilize
the unique benefits and zoning of the Overtown entertainment district. The project will specifically seek minority
owned businesses and provide additional subsidies on the commercial space for Overtown residents. The retail shall
activate NW 8th street and 2nd Ave with outdoor cafes, dining and live music. Potential tenants include Jackson Bros
Ice Cream and a Jazz Club in the spirit of Avenue G.
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Mural

The Hub @ Overtown was designed with large wall mural on the west elevation/face of the garage podium facing
I-95. The project team shall solicit local artists through a paid competition to capture the emerging and historic
tradition of Overtown through an artistic mural. The design will not only be aesthetically pleasing but also an
inspiration to transform the environment; a work of art that ties back into the community and fosters a sense of
pride and unity. Neil Hall will lead the effort for developing the criteria and choosing the selection committee.

Community Outreach and affordable/workforce housing referral program

The Development team intends to have a robust outreach program to the local community, organizations and other
businesses. We view communicating with our neighbors as a critically important element in the development process
by partnering with leaders as well as the local community to determine resident needs as it relates to housing and
commercial uses. Community outreach will include attracting retail and office users as well as an exclusive marketing
campaign with local organizations for the affordable and workforce housing units.

Metro Passes

The development team will develop a pilot program to provide discounted Metro passes to residents and employees
of the Hub to encourage the use of public transportation and increase ridership.

Station Improvements

As part of the development and construction of the project, the development team will coordinate with DTPW make
significant improvements and upgrades to the Metrorail Station, as outlined in the proposal. We are strong believers
in the benefits of increasing mass transit ridership and are proposing a $2.5 million investment in functional and
aesthetic Station Improvements to the Historic Overtown / Lyric Theater Metrorail Station.

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Approach to manage communications with the
community, organizations, and other businesses.
The Sponsors intend to have a robust outreach to the community, organizations and other businesses. We view
communicating with our neighbors as a critically important element in the development process.

The team will partner with leaders as well as the local community to determine resident needs as it relates to housing
and commercial uses. Together with guidance from the community, the Hub @ Overtown Development team will
host workshops to ascertain what types of businesses the community would like to see in the community to enhance
their lives, promote small business owners and lessen the need to travel outside of the neighborhood for everyday
needs.

Some of the key principles that will govern these meetings include:
1. Involve neighbors from the start to foster a shared community vision.

2. Manage the process effectively to build trust between the team and the public.

3. Work across disciplines to maximize group learning and productivity.

4. Work in short feedback loops to test ideas and stimulate public participation.

5. Work in detail to test the feasibility of alternative concepts.

Myya Passmore from Culture 44 and The Cornerstone Group Project Manager, Jasmine Baldwin, will lead this
initiative. Jasmine has substantial experience working with local communities to ensure successful project
completion from the standpoint of local residents. Her previous experience includes coordinating a 7-day planning
charrette for the redevelopment of a 30-acre site in Downtown Opa-locka, Florida. A charrette is an intense period
of design and planning activity, which usually occurs over a three to seven day period. Ms. Baldwin was a lead
organizer during the charrette which included participants such as the Opa-locka Community Development
Corporation (OLCDC), University of Miami School of Business and School of Architecture, Opa-locka residents and
business owners, and various professionals and representatives from public and private companies. Ms. Baldwin has
also organized community workshops for the OLCDC as part of a Choice Neighborhoods Planning Grant received
from United States Housing and Urban Development.

The principals have worked with neighborhood groups throughout their companies history, oftentimes going into
neighborhoods that were skeptical of the promises made by developers in the past. The concerns are many, but
usually focused around whether we would build what we promised to build and whether we would manage and
maintain the development as promised.

The development will include on site services and access to technology. Services typically include literacy training,
computer classes in our on-site business centers, finance and credit repair to name a few. In addition, the affordable
component of the project will also include a full set of amenities for residents such as a fitness center, business
center, pool, and a playground for young children.

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The Project management team will establish a communication plan that will have appropriate delegation of
communication authority to manage the relationship with a variety of stakeholders. Communications Roles and
Responsibilities will be delegated as follows:

Partners
The Partners are responsible for the venture wide Public Relations communications. In addition, they will also
handle relationship management with Key Financial, Regulatory and Governmental Stakeholders and Partners.
They will be the visible leaders of the development project.

Project Managers
The project managers will manage the periodic meetings with the county and city officials. Any required
updates and approvals will be provided by them. They will also engage with community activist nodes such as
the CRA, Lotus House, Overtown Youth Center Black Archives, Local Churches, among others.

Assistant Project Managers


Assistant Project Managers will be responsible for the day-to-day engagement with the community. They will
manage the relationship with the Overtown youth center counselor and the other community engagement
activities.

General Contractor
The General Contractor will be responsible for all the hiring programs through its sub-contractors. The GC will
be responsible for managing the local training sessions and ensuring that hiring opportunities are provided for
the local talent as described in this proposal.

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Marketing Plan
The Hub shall comply with the County’s policies and marketing requirements, which are, or will later be,
designed to ensure that all available leasable space is marketed and leased as widely and fairly as possible. The
Hub affirms that marketing and leasing of available space be performed in a transparent manner and made
available for monitoring by County staff to ensure compliance with these requirements, as well as to ensure
that the County will receive the agreed upon rent in a timely manner. The Hub also affirms that it shall comply
with all applicable federal, state, county, and local laws, orders and regulations ensuring compliance with any
and all leasing methods and standards. The Hub shall, annually, provide the County with a record of leasing on
the Site. The Hub is strongly committed to strict enforcement and adherence to Equal Housing Opportunity
guidelines and the Fair Housing Act. A large component of The Hub’s mission is providing affordable and
workforce housing that serves the Overtown community and the local neighborhood.

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Job Opportunities
We have the utmost commitment to prioritizing local employment during construction operations. More
broadly we believe that we have a responsibility to leverage our developments to lift and support the
communities in which we operate. We have taken a holistic approach local recruiting and therefore are
proposing both hiring and training programs.

Hiring Program

During construction, we will coordinate two (2) local job fairs to spread the information of opportunities in the
development. In addition to the physical job fairs, we will also commission a digital marketing campaign prior to
the start of the construction operations to ensure that we reach the maximum number of people. Our strategy
will be centered around two pillars, awareness and recruiting.

Awareness: We will develop a comprehensive marketing campaign through churches, community centers and
social media plan to spread the job postings across the community.

Search Engine Optimization (SEO): We will leverage search engine optimizations to maximize the benefits of
digital job posts (e.g., through Google and Facebook ads).

Hiring Framework

We are committed to local hiring, therefore as a hiring policy will be to follow the following framework:

- Priority #1 – Hiring residents who live or have their primary place of business in the immediacy of the
development.

- Priority #2 – Hiring residents who live or have their primary place of business in the Overtown community.

- Priority #3 – Hiring residents who live or have their primary place of business in the City of Miami.

- Priority #3 – Hiring residents who live or have their primary place of business in Miami-Dade County.

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Job Opportunities (Cont.)


Training Program

The venture will utilize Cornerstone's proprietary training program. Cornerstone itself has created its own
program that provides training to minority employees. Known as Toward a Sustainable Community, it requires
subcontractors to train local employees in the respective trade. At the completion of construction, the
employee receives a certificate of completion that evidences the work they have completed. They can then
take that certificate with them as evidence of their experience, or stay with the subcontractor. The venture is
not aware of other developers who have a similar program.

The venture will work with CareerSource and the Overtown Youth Center to provide both technical and non-
technical trainings:

Initiatives:

Towards a Sustainable Community - One initiative that the venture will pursue is an effort to have the
subcontractors hire previously untrained local labor, so that the individual may then gain a meaningful trade.
Known as Towards a Sustainable Community, the new laborers receive the certificate of achievement upon
completion of the project. With those certificates and the subcontractor that the individual worked for, that
previously untrained laborer now has evidence he/she can take with him to find future employment, or
hopefully to remain part of that subcontractor’s team. It is a win-win for everyone involved.

Transition, Inc. - Cornerstone has been a professional partner with Transition, Inc. over the past several years.
Transition, Inc. provides job training and placement services to ex-offenders. The venture will be working with
Transition, Inc. to provide ex-offenders with job opportunities with its subcontractors.

Founded, in 1974, Transition, Inc. has assisted thousands of “returning citizens” to overcome the single biggest
obstacle to their successful re-entry back to their community – finding and maintaining a job. Transition
operates the Career Source South Florida Ex-Offender Service Center by assisting individuals re-entering the
workforce through an intensive program of counseling, case management, and skills training. Services include
job training skills, resume preparation, interviewing skills training, understanding new technology, computer
skills, working expectations, employer expectations, time management, and others. Annually, Transition
provides services to over 4,000 clients with supportive services and job training. Clients are primarily ex-
offenders but they also work with others who have barriers to unemployment – including veterans, persons with
disabilities, the homeless and those afflicted with addiction. Each year, of those 4,000 clients who walk through
Transition’s doors, approximately 400 are placed in permanent jobs.

CareerSource - Cornerstone recently partnered with Career Source South Florida during the construction of The
Villages. Career Source South Florida (CSSF), a public-private partnership (PPP) that establishes state and
federally funded workforce development and training policies for unemployed and underemployed individuals
in Miami-Dade and Monroe counties. CSSF is dedicated to building a world class economy by cultivating a
talent supply that meets the demands of the industry. CSSF also provides training and other financial incentives
that offset the cost when hiring and training new and existing employees. These valuable resources are
responsive to individual company needs and can provide businesses with a competitive advantage in a global
economy.

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Job Opportunities (Cont.)


Other Trainings:

Technical:

- Occupational Safety and Health Administration (OSHA) 10 Certification


- National Center for Construction Education Research (NCCER) Certification

Non-technical:

- Career development counseling


- Resume development
- Interview preparation / simulation courses

Company Contracting Policies

Diversity: It is the policy of our venture to ensure equal opportunity in our contracting and subcontracting.
Within that, we strive to achieve a balanced group of partners by recruiting minority and women owned
enterprises.

Local Hiring: We will use reasonable efforts to ensure that at a minimum 25% of our construction subcontractors
are local to Miami-Dade County.

To accomplish this, The Hub Block 45 LLC will:

1. Notify the broadest possible number of local subcontractors of the opportunity to be awarded a
subcontract;

2. Invite local subcontractors to submit bids in a practical, expedient way;

3. Provide local subcontractors access to information necessary to prepare and formulate subcontracting bids;

4. Allow local subcontractors to meet with appropriate The Hub Block 45 LLC personnel to discuss
requirements; and

5. Award subcontracts based on full and complete consideration of all submitted proposals and in accordance
with The Hub Block 45 LLC's stated objectives.

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Local Non-Profit Private School - Partnership Opportunity

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Local Non-Profit Partner

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6
Construction Schedule
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Schedule Overview
The Development team will make best efforts to achieve the August 2020 date for delivery of the Project (as
defined by achieving a certificate of Occupancy C.O.). 13AC is ready to achieve this date by accelerating the
schedule through a variety of means. Below is a proposed schedule:

April and May 2018 - Once 13AC is recommended by the selection committee we shall submit a draft lease
agreement and development agreement based on the fully negotiated and approved Douglas Station Lease.
This will significantly accelerate the negotiating process as many of the items have already been discussed and
approved by the Development Team and the County.

June 2018 - While the Lease is being negotiated 13AC will complete the site plan approval package for
submittal to the UDRB (Urban Design Review Board) and City planning department for waiver approval. The
team will meet with the director in advance of submittal and make any recommended changes. After
incorporating the comments the team will begin work on the construction drawings.

It is anticipated that the Lease negotiations will be complete and we will submit to the Commission for
approval.

July 2018 - The team expects to make the agenda for the July 2018 UDRB meeting after which we will have
Waiver/site plan approval. Any adjustments to the plans will be made based on the recommendations of the
Board.

The Lease will go before the County Commission for approval.

August 2018 - The drawings shall be progressed enough to submit for a foundation permit

September 2018 - The Lease will be executed by the Mayor any become effective.

The construction drawings will be completed and we will submit for the building permit.

The development team will take control of the property and begin site prep, clearing and demolition.

October- November 2018 - The foundation/soil testing permit will be approved.

The contractor will begin site work and test piles.

December 2018 - Contractor will begin foundation work

January 2019 - Building Permit is approved

December 2018 – August 2020 - Construction period with all substantial work completed by evidence of a
certificate of occupancy for the podium and affordable housing north tower completed by August

January 2021 - All work on the project will be completed by evidence of a certificate of occupancy on the
workforce/market rate south tower

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Project Schedule - Executive Summary

2018 2019 2020 2021

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Lease Recommendation

Lease Negotiation

Submit for UDRB and Waiver App.

County Commission Vote

UDRB Hearing and Waiver Approval

Submit Foundation Permit

Detailed Design (CD's)

Building Permit

Site Clearing / Prep / Demolition

Test Piles
Foundation

Podium / North Tower Construction

South Tower Construction

Note: The Partnership will provide the county with quarterly reports to that shall include a baseline / forecast schedule with progress metrics for all the
different construction / project disciplines.

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7
Market Analysis
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Market Analysis
The sponsor team engaged Reinhold P. Wolf Economic Research, Inc, to prepare a market overview and assess
the demographic and market trends impacting the Miami-Dade County and Overtown submarket. Below is a
summary of that report. The complete analysis can be found on Appendix E.

Overtown Submarket

SUBMARKET

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Miami-Dade
Miami-Dade is both the most populous state in the county and one of the fastest growing counties in Florida.
From 2017 to 2020, the population is expected to increase by 35,613 persons per year. It is to be expected that
household formation will also follow a similar trend with an expected increase of 11,345 per year.

GROWTH VS. SUPPLY


+35,000

+30,000

+25,000

+20,000

+15,000

+10,000

+5,000

1980-1990 1990-2000 2000-2010 2010-2017 2017-2020

Population (growth per year) Households (growth per year) Housing Units (growth per year)

Overtown Submarket
Even though the Overtown submarket has not experienced steady population growth historically, from 2017 to
2020 is expected to add 1,345 persons per year and to form 470 households per year.

GROWTH VS. SUPPLY

+1,500

+1,000

+500

-500

-1,000

1990-2000 2000-2010 2010-2017 2017-2020

Population (growth per year) Households (growth per year) Housing Units (growth per year)

Source: U.S. Census of Population and Housing, 1990 - 2010; 2017 estimated and 2020 forecast by Reinhold P. Wolff Economic Research, Inc. based on
University of Florida, Bureau of Economic and Business Research “Florida Estimates of Population 2016” report.

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Apartment Market Conditions - Miami-Dade County


A general rule to assess the health of a given market is to compare the supply and the absorption rate to as-
certain the number of months of inventory available. Six months of apartment inventory is considered a healthy
market. Based on this six months “rule”, the Miami-Dade market can support 5,480 units. It currently only has
1,650 units available. It is worth noting that within the affordable housing space the supply is even more con-
strained. Vacancy in this subsector is a very tight 0.6% highlights the need for more affordable developments.
Combine Table 9 Miami-Dade Vacancy Trend and Table 13 Overtown Vacancy Trend

Miami-Dade Overtown
Percent Of Units Vacant As Of: Percent Of Units Vacant As Of:

Year May November Year February August

2010 4.0% 2.8% 2010 4.8% 3.3%

2011 4.2% 2.8% 2011 2.7% 2.4%

2012 3.4% 2.6% 2012 2.3% 2.4%

2013 4.6% 3.1% 2013 5.1% 3.8%

2014 3.8% 3.1% 2014 5.2% 5.3%

2015 3.3% 2.9% 2015 3.3% 2.7%

2016 2.9% 3.9% 2016 0.3% 4.0%

2017 3.6% 4.6% 2017 3.7% 4.6%

Source: Quarterly surveys by Reinhold P. Wolff Economic Re- (1) The General Overtown Area for purposes of this analysis,
search, Inc. of about 30% sample of registered rental apartments includes Areas 5 and 8 on Map No. 1.
in Miami-Dade County (in excess of 45,514 units in 2017).
Source: Quarterly surveys by Reinhold P. Wolff Economic
Research, Inc. of rental apartment developments.

Demand for Apartments


According to the US census, renter demand has steadily increase as a percent of housing (over condominium,
single family and other types of housing). This trend is expected to continue as multifamily rental becomes even
more prevalent. For Miami-Dade County the renter utilized housing is expected to increase by 9,415 units per
year (2017-2020). Historical analysis shows that multifamily developments capture approximately 80% of the
increase in rental demand.

The demand increase in the Overtown submarket is expected to be 2,896 units per year (from 2017-2020).

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Affordability
In terms of local affordability, only 37% of the Overtown population can afford rents above $850. See the distri-
bution of Household incomes:

Miami-Dade The General


Income Range County Overtown Area

Under $10,000 7.7% 17.9%

10,000 - 14,999 6.6% 12.3%

15,000 - 24,999 11.5% 19.6%

25,000 - 34,999 10.5% 14.0%

35,000 - 49,999 13.6% 13.0%


50,000 - 74,999 17.6% 11.3%

75,000 - 99,999 11.4% 5.1%

100,000 - 149,999 12.1% 4.3%

150,000 - 199,999 4.3% 1.5%

200,000 + 4.8% 1.1%

TOTALS 100.0% 100.0%

Median Income $50,141 $25,142

Source: U.S. Bureau of the Census, 2000 and 2010, updated to 2017 based on analysis of
income trends by Census by Reinhold P. Wolff Economic Research, Inc.

Multifamily Supply
Within the Overtown submarket, new construction has increased by 548 units per year from 2014 – 2016. During
2016, however 822 apartments were started in the area and 293 were started through June 2017.

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Comparable “Market Rate Properties”

Midtown 5 – 3201 NE 1st Ave Rents $1,782 ($3.3PSF) $5,290 ($3.52 PSF)
2500 Biscayne Rents $2,023 ($2.82PSF) $3,800 ($2.95 PSF)
InTown – 1900 SW 8th Street Rents $1,709 ($2.58PSF) $3,222 ($1.80 PSF)
Solitar Brickell Apts – 86 SW 8th Street Rents $1895 ($3.83 PSF) $6,050 ($5.63 PSF)
The Hub - 811 NW 1st Ct Miami, FL 33136 Rents $600 ($1.3 PSF) $2,500 ($2.63 PSF)

Sponsors View
Given the market conditions of 1- High demand for apartments, 2- Low inventory outstanding, 3- Relatively slow
pace of new construction. We believe the the market can absorb the units we are proposing. We also believe
that it is imperative that we provide a variety of options for all income levels within the market.

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Retail Comps

Address SF Rent NNN

100 S Biscayne Blvd 2,641 $50.00 -

169 E Flagler St 5,994 $45.00 -

35 NE 1 Ave 5,000 $60.00 -

31 N Miami Ave 3,055 $50.00 -

2 W Flagler St 5,302 $60.00 -

1101 Brickell Bay Ave 9,520 $65.00 $17.00

1010 Brickell 8,885 $100.00 $23.44

1100 SW 2 Ave 7,722 $60.00 $15.00

940 SW 1 Ave 8,000 $50.00 $10.00

1100 S Miami Ave 5,783 $120.00 $14.00

86 SW 8 St 5,253 $85.00 $19.00

850 S Miami Ave 8,186 $75.00 $15.00

899 S Miami Ave 7,596 + mezz $200.00 $31.50

28 Flagler 6,000 $30.00 TBD

690 Brickell Ave (2nd FL) 8,059

1300 Brickell Bay Dr 6,034 $85.00 TBD

1001 S Miami Avenue TBD $175 ground $10 - $15


$50 2nd floor

950 Brickell Bay Drive 6,200 $55 $15

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Office Comps
Free Tenant
Date of Term Gross Rental Annual
Submarket Building Tenant Type of Transaction RSF Class Rent Improvement
Execution (Months) Rate Increases
(months) Allowance
Brickell 701 Brickell Ave Bank of America Merrill Lynch 2017Q4 Renewal 150,000 A 129 $44.00 3% 9 $45.00
Brickell 78 SW 7th St KPMG 2017Q4 In Market Relocation (from SEFC) 16,926 A 144 $52.00 3% 12 $75.00
Brickell 701 Brickell Ave Facebook 2017Q4 Expansion 16,570 A 60 $56.00 3% - $65.00
Brickell 600 Brickell Ave Transatlantic Reinsurance 2017Q4 In Market Expansion 12,520 A 144 $52.00 3% 5 $85.00
Brickell 701 Brickell Ave Banco Do Brasil 2017Q4 Renewal 6,400 A 87 $52.00 3% 3 $30.00
Brickell 600 Brickell Ave Manion Gaynor & Manning 2017Q4 Expansion 5,548 A 62 $58.00 3% 2 $15.00
Brickell 78 SW 7th St Bloomberg 2017Q4 In Market Relocation 4,000 A 156 $56.00 3% 9 $70.00
Brickell 1450 Brickell Ave Fortress Investment Group 2017Q4 New To Market 2,984 A 60 $61.50 3% 0 $0.00
Brickell 1450 Brickell Ave Consulting Group 2017Q3 In Market Relocation/Expansion 18,880 A 96 $60.00 3% 6 As Is
Brickell 78 SW 7th St Interaudi Bank 2017Q3 In Market Relocation (from SEFC) 10,712 A 120 $56.00 3% 9 $75.00
Brickell 1395 Brickell Ave Arce Immigration Law 2017Q3 Expansion 1,524 A 60 $52.00 3% 0 -
Brickell 78 SW 7th St WeWork 2017Q2 Expansion 16,926 A 142 $45.50 3% 18 $75.00
Brickell 600 Brickell Ave Greenspone Marder 2017Q2 New To Submarket 13,177 A - $50.00 3% - -
Brickell 701 Brickell Ave Kaseya Corporation 2017Q2 In Market Relocation (from 800 Brickell) 13,987 A 60 $42.00 3% - -
Brickell 701 Brickell Ave Kaseya Corporation 2017Q2 Expansion 8,504 A 60 $42.00 3% - -
Brickell 600 Brickell Ave Greenspone Marder 2017Q2 Expansion 8,186 A - $50.00 3% - -
Brickell 1441 Brickell Ave Valor 2017Q2 New To Market 4,290 A - $51.00 3% - -
Brickell 1428 Brickell Ave Leykar Investments 2017Q2 In Market Relocation (From Coconut Grove) 1,320 A 24 $32.00 3% 1 $0.00
Brickell 600 Brickell Ave Manion Gaynor & Manning 2017Q1 New To Market 16,344 A - $46.00 3% - -
Brickell 1450 Brickell Ave BBVA 2017Q1 Renewal 15,876 A 60 $48.96 3% 0 As Is
Brickell 701 Brickell Ave Kaseya Corporation 2017Q1 In Market Relocation (from 800 Brickell) 13,907 A 60 $42.00 3% - -
Brickell 701 Brickell Ave GFG Capital 2017Q1 Renewal 6,068 A 60 $54.75 3% 0 $30.00
Brickell 1450 Brickell Ave Think Smart 2017Q1 New To Market 1,626 A 36 $60.00 3% 3 As Is
Brickell Class A Tier 1 AVERAGE: 15,925 $50.60
Downtown 333 Avenue of the Americas Bulltick Financial 2017Q4 New To Submarket/Relocation (From 701 Brickell) 12,000 A 144 $45.00 3% 6 $80.00
Downtown 333 Avenue of the Americas Silversea Cruises 2017Q4 Expansion 7,597 A 156 $43.00 3% 5 $85.00
Downtown 200 S Biscayne Blvd JLL 2017Q3 In Market Relocation/Consolidation 14,500 A 120 $60.50 3% 9 $75.00
Downtown 201 S Biscayne Blvd Weil Quaranta 2017Q3 In Market Relocation/Expansion 4,065 A 84 $46.00 3% 12 $0.00
Downtown 200 S Biscayne Blvd Idea 247, Inc 2017Q3 New To Market 2,146 A - $46.13 3% - $0.00
Downtown 201 S Biscayne Blvd Harvard Maintenance 2017Q2 In Market Relocation 23,540 A 129 $48.00 3% 10 $65.00
Downtown 201 S Biscayne Blvd Wargo French 2017Q2 Renewal 13,819 A 64 $44.00 3% 8 $30.00
Downtown 333 Avenue of the Americas Cushman & Wakefield 2017Q2 In Market Relocation 12,500 A 144 $43.00 3% - -
Downtown 201 S Biscayne Blvd Black, Srebnick, Kornspan & Stum 2017Q2 Renewal 11,562 A 66 $44.00 3% 8 $35.00
Downtown 201 S Biscayne Blvd Citigroup 2017Q2 Expansion 9,700 A 140 $52.45 3% 12 $50.00
Downtown 333 Avenue of the Americas Red Creek Financial 2017Q2 New To Market 5,000 A 60 $55.00 3% - $80.00
Downtown 200 S Biscayne Blvd Berkowitz Pollack Brant 2017Q1 Renewal/Downsize 36,447 A 128 $43.50 3% 8 $50.00
Downtown 200 S Biscayne Blvd Cozen O' Connor 2017Q1 Extension/Expansion 29,500 A 120 $62.50 3% 12 $75.00
Downtown 200 S Biscayne Blvd DLA Piper 2017Q1 Expansion 7,759 A 60 $43.00 3% - -
Downtown 200 S Biscayne Blvd Kering 2017Q1 New To Market 5,436 A 125 $37.00 3% 5 $62.50
Downtown 200 S Biscayne Blvd American Friends Of The Peres In 2017Q1 Renewal 1,823 A 12 $45.90 3% 0 $0.00
Downtown 200 S Biscayne Blvd Accendo Capital Group 2017Q1 Renewal 1,191 A 60 $40.00 3% 0 As-Is
Downtown Class A Tier 1 AVERAGE: 11,681 $47.00
DOWNTOWN AND BRICKELL CLASS A TIER 1 AVERAGE: 14,122 $49.07

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8
Execution Management
Plans
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Site Drainage and Storm Water Analysis
The drainage system for the proposed development will likely consist of drainage wells and detention structures
for both water quantity and water quality purposes, to facilitate on-site disposal of storm water runoff. The
twenty-five-year design storm event will be used to design the storm water management system, in accordance
with SFWMD and Miami-Dade County Department of Environmental Resources Management (DERM) criteria.

The Development Site grade elevations will be designed to meet floodplain management criteria according to
Federal, State, Miami-Dade County and City of Miami standards as follows:

1. The subject property is in panel 312 of 1031 of community panel number 12086C0312L and panel 314 of
1031 of community panel 12086C0314L of flood insurance rate map (FIRM). According to the National Flood
Insurance program, the property is located within Flood one.

2. Miami-Dade County Flood Criteria elevation is estimated to be 5.0 ft. NGVD. This will be used to determine
proposed minimum site grade elevations.

3. The average October ground water table elevation is estimated to be 2.00 ft. NGVD. This will be used as the
control water elevation for storm water management calculations. (Source Miami-Dade County Public Works
manual, Volume II- Design Standard Detail WC 2-2).

Water Distribution and Fire Protection System


A summary of the water mains owned and operated by the Miami-Dade Water and Sewer Department (MDWASD) adjacent
to the development site are shown in the table below:

Due to the presence and current diameter of water mains on all sides of the proposed development, it is unlikely MDWASD
will require additional water main extensions or water main upsizing. This will be verified with MDWASD and a Developers
Agreement will be executed that will define the points of connection for the domestic and fire service along with any
required water main extensions or upgrades.

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The Fire Code (NFPA) requires fire hydrants be located no more than 300 feet (drivable distance) from proposed buildings
and structures, and that there be no more than 300 feet between hydrants along the frontage of a property, as measured
along the water main. From a review of aerial images it would appear that no additional fire hydrants would be required.
However, the City of Miami Fire Department may request additional fire hydrants be placed in the vicinity of the
development site in order to meet the criteria that hydrants be located within 150 feet of each proposed buildings fire
department (Siamese) connection. The fire department connections to serve any proposed structures must also be located
at the front of the building.

Sanitary Sewer Collection System


A summary of the sewer mains owned and operated by the Miami-Dade Water and Sewer Department (MDWASD) adjacent
to the development site are shown in the table below

Due to the presence of 10-inch gravity sewers on all sides except NW 1st CT of the proposed development, it is unlikely
MDWASD will require additional sewer main extensions or upgrades.

This will be verified with MDWASD and a Developers Agreement will be executed that will define the points of connection
for the sanitary sewer service along with any required sewer main extensions or upgrades.

MDWASD Pump Station 30-0001 and 30-0002 receives the flows from these mains. As of March 2018, pump station
30-0001 is projected to have an average operating run time (NAPOT) of 7.69 hours per day while pump station 30-0002 is
projected to have an average operating run time (NAPOT) of 6.38 hours per day. Therefore, these downstream, receiving
pump stations are not currently in moratorium and a new sanitary sewer pump station or upgrades to said pump station are
not anticipated for the proposed development. A final determination regarding the status of the existing transmission
system and the need to make improvements will not be known until construction plans are submitted to the Miami-Dade
County DERM Wastewater Section and a Sanitary Sewer System Capacity Certification Letter is issued.

TT HH EE

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Quality Construction - meets requirements


Previous Project Quality Control Procedures (to be implemented at The Hub)
13th Floor Investments recently developed 1010 Brickell which is located immediately next to the metromover
station and the Hub requires similar quality control procedures.

Our development team has implemented the following quality control procedures for 1010 Brickell and will use
the same for the Hub @ Overtown

1010 Brickell, Miami, FL - General Logistics and Safety Plan


Safety Procedures

1. Shall follow OSHA standards and/or other regulatory agencies guidelines and shall be managed by
designated OSHA certified safety director on site.
2. Safety manuals and reports to be kept on site and followed at all times.
3. Weekly safety meeting shall be conducted.
4. MSDS program shall be on site and followed at all times.
5. Hurricane plan of action shall be placed on site and followed accordingly.
6. In case of emergency contact appropriate emergency agency and office.
7. FDC to be in operational and vertical before the 6th floor.
8. Safety barriers, safety railings, safety nets and if required cutriggers, overhead protection and vertical
wind screens barriers should be utilized.
9. Professional engineer shall evaluate and develop a plan for the above mentioned practices.
10. Shoring engineering plan shall be provided and implemented by licensed professional.

Operational Hours
Construction work hours to be as per the current city of Miami guidelines.
a. Jobsite hours standard time 7:30 a.m. to 6:00 p.m. Monday through Saturday. No Sunday work
b. City of Miami does not allow construction noise between 6 p.m. and 8 a.m.
c. Prohibited acts: No construction activities shall take place on Sunday and on the following holidays:
d. New Year’s Day, Fourth of July, Labor Day, Yom Kippur, Thanksgiving Day, and Christmas Day
e. Extended work hours shall be requested in writing three (3) days in advance.
f. Expected general timeline of project completion without unforeseen delays tis to be 29 months

Miscellaneous Procedures
1. Conduct pre-construction survey of property and neighboring properties utilizing but not limited to
video, photographs, historic photos, aerials, surveys/plats, and misc. documents.
1. Trash pickup on site and port0pottie clean out minimum of two-three times/week.
2. Landscaping and property shall be maintained regularly to the best abilities to control dust and noise.
a. Follow noise pollution plan in master permit set for additional directions
3. Discharge well shall be sued only for de-watering of below grade work and long term rainwater re-
quirements.
4. Monitoring program
a. Professional engineer to set program standards for de-watering and/or monitoring
b. Professional engineer to track ground water levels shall conduct monitoring while de-watering
is being conducted

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c. Professional engineer to set programs standards for vibration monitoring


d. Professional engineer to monitor pile installation
e. Professional engineer to set standards and monitor sheet pile installation

Safety Edge Protection


1. On area edges where active work is ongoing debris netting shall be used for protection against all
material.
2. Debris, netting shall be used below the highest working deck.
3. Fall protection shall be used on the next two floors below the working deck and shall be installed by
shell contractor.
4. All other floor shall have a railing system for fall protection.
5. Swing stages and equipment that are used off the edge of the building shall have debris netting under
the equipment.

Project Housekeeping
1. All visitors must be accompanied by project personnel.
2. Moss Project Management offices are located at 800 Brickell.
3. Project Perimeter shall be enclosed with fence panels on stands.
4. Site fence shall have vision screen.
5. Site shall have silt screen for dust control.
6. Project trash hauling shall be scheduled by the superintendent.
7. Street cleaning shall be done at needed/determined by superintendent.
8. Jobsite toilets (port-o-lets) are scheduled to be cleaned 2-3 times a
week.
Tower, Crane, Mobile Cranes and/or Other Onsite Equipment
1. Tower Cranes, mobile cranes, and/or other onsite equipment shall have manuals onsite and procedures
shall be followed.
2. Crane and operators shall be certified and licensed. Crane needs to be regularly inspected and record-
ed as per requirements.
3. No material shall be flown over neighboring properties without permission
a. Southern property (1060 Brickell) is no fly zone for materials
b. The Miami-Dade Transit Adjacent Construction Safety Manual shall be adhered to for work next
to/over the Metro/Rail Station.
4. In operation wind speed restrictions are found in the operations manual. If wind speeds exceed or are
anticipated to exceed the restriction the tower crane shall be placed out of operation and allow to
weathervane 360 degrees.
a. Tower crane with winds under 45 mph shall have jib break placed to limit full rotation over
neighboring properties.
b. Tower crane with winds of excess of 45 mph shall release jib break to allow for pin wheeling
(weather vanning) for full rotation of job for safety purposes.
c. Emergency weather precautions
i. Prevent the base of the machinery and surrounding area from being eroded by wind and/
or water. Disconnect the electrical power and secure all cables at the base of the machin-
ery. Place the machinery out of operation.
ii. Release the slewing brake and allow the other crane to weathervane 360 degrees. Remove
or lower the top climbing unit to the lowest possible position. Lower the construction
hoistcars to the base. Remove signage on the machinery. Visually inspect that the structur-
al support bolting of the machinery is tight and secure.

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iii. Foundation anchor bolts, mast bolting, building tine-in and connection plate bolting.
iv. One the weather danger has subsided or the weather has passed through, inspect the
machinery and contact your local morrow service manager to report and discuss the con-
dition of the machinery in the event you have sustained damages. It may be necessary to
have a morrow service technician visit your site for a more detailed inspection.
5. Material and personnel back hoist with lancing shall be position at a point consistently close to the
building. Mobile crane boom shall be lowered as instructed by operational manual.

Mode of Transportation (MOT)


1. All vehicles shall be cleaned before exiting site.
2. All MOT lanes closures shall be submitted in writing to the city and/or required agencies.
3. Long term sidewalk closures shall be submitted to the city and appropriate agencies.
4. Utility work shall be submitted and coordinated in writing to the city and/or required agencies.
5. Flag personnel shall guide traffic to and from property.
6. Vehicles shall be cleaned at staging area when exiting the site prior to entering Brickell Ave.
7. All MOT shall be pre-approved by the city of Miami.
8. MOT that requires night work shall have net noise waiver approval prior.
9. In the event the alley way is not considered and granted a part of the construction site the ally way
shall be covered with a shoring system. The system shall span over 20’ and will allow traffic on an as
needed basis.
10. The shoring system shall be engineered to support construction material.

Security Procedures
1. During non-work hours security personnel shall maintain presence on site including holidays, week-
ends, nights (by Owner)
2. Cameras and recorders will be utilized on the properties for security and safety.
3. Proper lighting shall be placed as necessary.
4. Communicate and coordinate with local police.

Demolition
During the demo process, the site will be supervised with a project Superintendent.
1. Demo will be done in a safe and secure manor and adhere to the demolition safety manual. Copy of
manual to be onsite.
2. Water will be used to help reduce and control dust.
3. Demolition will be done during regular business hours. If off hours work is required, it will be approved
by the office.

Sheet Pile
1. Sheet pile installation will occur on the perimeter of the project. Some vibration may occur during this
process.
2. Adjacent properties will be monitored during this process. Monitoring will be by a third party company
hired by the owner/developer.
3. Neighboring properties will be notified prior to sheet piling process.
4. Sheet piles will be installed per plans and specifications.

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9
Proposers Corporate
Experience and Past
Performance
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Proposers Summary

Key Company Information 13FI Adler Cornestone

History 13 Years 60 Years 26 Years

Employee # 37 36 450

Markets Served All of Florida All of Florida + Ohio All State of Florida

13FI Adler Cornerstone Overtown Youth Center

Key Partners Arnaud Karsenti Michael Adler Jorge Lopez Tina Brown
The Hub Block 45 Ownership 40% 40% 20% 0.25% Revenue Share

T H E

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Sponsor Overview - 13th Floor Investments

Adler Group, 13th Floor Investments and Cornerstone have collectively completed over 160 separate real
estate investments, for which we have raised well over $1 Billion. Each investment is organized as a
separate legal structure, with its own single purpose entity. This is a requirement made of us by our
investors and lenders. Our operating businesses take full responsibility for and management of each
separate investment entity. Therefore our respective companies Adler Group, 13th Floor Investments and
Cornerstone have linked forces to form this Joint Venture to make the Proposal for our joint development
of Block 45.

13th Floor Investments


13th Floor Investments is a world-class investor, owner, developer and manager of real estate properties in
based in Miami, Florida and founded in 2003. The firm is led by a team of professionals who are dynamic,
experienced and entrepreneurial – with a diverse set of backgrounds in finance, development, operations
and management. The firms internal capabilities include sourcing, underwriting, financing, and closing
transactions as well as development, construction, design, asset management, and leasing/sales expertise.
We attribute our success to our ability to assume the role of both investor and operator, across all asset
classes and stages of the economic cycle. 13th Floor is also an engaged and responsible member of each
community in which it operates by contributing both funds and time to local committees and
organizations. The firm has a competitive advantage relative to the following core attributes:

• Market Knowledge: We have a detailed knowledge of and experience working in Florida. This intimate
knowledge provides us with a competitive advantage through (i) familiarity with submarkets, devel-
opments, contractors, builders, brokers, and competitors, and (ii) a deep network of contacts and
resources.
• Unique Experience: Our unique development, asset management, and operational expertise represent
important core competencies. These competencies allow us to maximize the underlying real estate
asset potential through, when appropriate, branding, development, renovation, and repositioning of
assets.
• Strong Team: Our team of professionals possesses the ability to source, analyze, develop, operate,
and exit an investment from start to finish. We have a combined experience in real estate exceeding
50 years, covering the real estate finance, construction, development, property management, private
equity, and hedge fund industries.
• Value Investment Focus: We are value investors, thriving on our ability to appropriately assess risk
and reward in complex, special situations. We believe that “buying correctly” is a key element in the
control and limitation of risk. We strive to structure investments creatively with a keen attention to
downside protection.

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• Established Reputation: We have built a reputation as an honest partner and fiduciary in our market
and pride ourselves for providing full disclosure of our information sources and strategic partners. We
continue to maintain this reputation with our partners and associates through the act of negotiating,
structuring, operating, and building in good faith.
• Strong Partners: We believe that partnering with the right people can bring value-added components
to specific transactions that benefit our investors. We continue to advance our relationships with home
builders, developers, leasing experts, general contractors, financial institutions, lawyers,accountants,
and other major players in the Florida market.

We have developed a strong reputation for successfully acquiring, managing, developing, and exiting real
estate investments in the Florida market. Our unique development, asset management, and operational
expertise has proven itself applicable across all product types and all economic cycles. We take great
pride in and embrace the responsibility that accompanies all of our development activities. 13th Floor’s
long-standing commitment to excellence, unsurpassed performance and personalized service is proven
through our track record of delivering on-time and on-budget delivery and completion of our development
projects. Examples include: identifying vacant lot purchases at a cost-advantageous basis in areas where
homebuilders are likely to build (Orchid Grove, Hemingway Point, Enclave at Blackpoint Marina, Central
Parc); purchasing partially completed condominium projects and completing the build-out and sale of units
in-house (Eden House, Oaks at Hidden Harbor, Vista del Rio); purchasing different tranches of community
development district bonds encumbering owned assets (Enclave at Blackpoint Marina, Orchid Grove);
assembling over 100 single-family homes for a large-scale rental program (Value Homes, Caribbean Isles);
developing class “A” multifamily product (Sierra Grande, Peary Court); and creating joint venture partnerships
to capture growth opportunities throughout Miami’s urban cores (1010 Brickell Ave, 400 Sunny Isles, Sereno
at at Bay Harbor Islands); acquiring Class “A” office buldings (Highland Park Office Center, Offices in the
Grove); identifying emerging neighborhood trends (3650 Design Plaza, 38 Design District, 51 NW Design
Plaza). In each case, we diligently examine the value of a particular asset before designing the most optimal
structure in which to acquire, manage, or develop the project.

Additionally, 13th Floor Investments recently launched an affiliate homebuilding division. The homebuilding
group is now the 9th largest homebuilder in the state and continues to expand with a very robust pipeline.

13th Floor Investments has extensive experience in luxury condominium development during the most recent
cycle, having partnered with Key International Development on Eden House, 400 Sunny Isles, 1010 Brickell
and the harbour (under construction). In particular, 13th Floor’s team of professionals possesses the ability to
source, analyze, develop, operate, and exit an investment from start to finish. The team has a combined
experience in real estate exceeding 50 years, covering the real estate finance, construction, development,
property management, private equity, and hedge fund industries.

T H E

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Sample of Past 13th Floor Investments Development Projects

Most Relevant

1010 Brickell:
Client: 13th Floor Investment and Key international
Client Contact: Rey Melendi - COO 13th Floor Investments
Direct 786-693-7116 - Email: rmelendi@13fi.com
Description: 1010 Brickell is a 50-story, 387 unit, 500,000
square foot luxury condominium located in the booming
Brickell submarket of Miami, Florida.
Total Cost: $205MM
Contract Date: TCO in Dec 2017
Proposers Role: Developer
Result: Succesfully Delivered Building
Partners: Equity partners include 13th Floor Investments, Key
International and Wexford Capital for a total capitalization of
$23.25MM.

Sunny Isles 400:


Client: 13th Floor Investment and Key International
Client Contact: Rey Melendi - COO 13th Floor Investments
Direct 786-693-7116 - Email: rmelendi@13fi.com
Description: Waterfront property located in Sunny Isles,
Florida, includes 2 20 story towers (230 condominium units)
Total Cost: $158MM
Contract Date: TCO in Q3, 2015
Proposers Role: Developer
Result: Successfully Delivered Building
Partners: Equity partners include 13th Floor Investments, Key
International and Wexford Capital for $33MM Equity
Capitalization.

The Harbour:
Client: 13th Floor Investment and Key International
Client Contact: Rey Melendi - COO 13th Floor Investments
Direct 786-693-7116 - Email: rmelendi@13fi.com
Description: Located in Aventura, Florida, The Harbour is a
waterfront property with two 31 story buildings and 431 units.
Total Cost: $242MM
Contract Date: TCO in 2016
Proposers Role: Developer
Result: Project is already topped off (under-budget and
ahead of schedule) and was 75% Pre-sold prior to
groundbreaking.
Partners: Equity partners include 13th Floor Investments,
Integra and Wexford Capital for $10MM equity capitalization

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secured by BB&T

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and 13th Floor Investments have put together an innovative design team that
Other Projects

Sierra Grande:
adell & Fernandez, P.A.
Located in Naples, Florida, Sierra Grande is a Class “A”
merly known as ADD Inc.
273-unit, 4-story garden style multi-family building
community. The luxury apartment complex is 98%
mley Horn occupied. The project completed construction in
January 2015 and sold for $44.25MM. A $23.2MM loan
Curtis + Rogerswas
Design
secured Studio
by BB&T. The General Contractor was
Brooks & Freund with the total building cost of ~$33MM.
nsulting – Koniver Stern Group
pitality Management, LLC
Central Parc
In September 2010, 13th Floor Investments
purchased Central Parc. Located in Tamarac,
Florida, Central Parc is 253 single-family-home
community which has a total cost of $62MM

ate of Adler Group. Adler Group is a multigenerational real estate company


da. Adler Group and its affiliates employ approximately 100 people who offer a
designed to maximize the value and strength of the organization’s real estate
r history, Adler Group hasSouth
Central Parc developed in excess of 10 million square feet of
l estate and 8,000 residential
In May 2011, 13th Floorunits. Today,
Investments purchased byCentral
means of relationships with a
Parc South, an undeveloped site entitled for 174 single
and private investors and Located
family homes. nationally recognized
in Tamarac, financial lenders, the company
Florida, directly across
from Central Parc, the project was delivered on cost
and schedule with toal budget of ~$60MM.

1
0
3

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Mirasol:
• Purchased the broken condominium development
Sample of Past 13th Floor Investments Development Projects
in January 2012 and completed the project.
• Located in Bonita Springs, FL.

h, Florida
m with 98 units, 786-stall
000 square feet of ground floor
Waterways:
e
• Purchased the broken townhome development in
MM September 2011.
• Located in Naples, Florida
• The two neighboring townhome communities
contained a combined total of 43 unsold townhomes
and 231 vacant development lots.

2015 and sold for $44.2 MM


rida
73-unit, 4-story Eden
garden style
House:
• Built in 2012
• Located in Miami Beach, Florida
MM • Mixed-use condominium with 98 units, 786-stall |
parking deck, and 12,000 square feet of ground floor
s Brooks & Freund and the commercial retail space
• Building Cost of ~$45MM
secured by BB&T

Sierra Grande:
and 13th Floor Investments have put together an innovative design team that
• Completed in January 2015 and sold for $44.2 MM
• Located in Naples, Florida
• 7-building, Class “A” 273-unit, 4-story garden style
multifamily complex
adell & Fernandez, P.A. • Building Cost of ~$33MM
• General contractor was Brooks & Freund and the
merly known as ADD Inc. construction loan was secured by BB&T

ley Horn • 98% occupied

Curtis + Rogers Design Studio


nsulting – Koniver Stern Group
pitality Management, LLC

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Peary Court
• Purchased trophy multi-family asset in August
2013
• Located in the heart of Key West, Florida
• A 24.2 acre property containing 157 rental
townhomes

Offices in the Grove


• Purchased nine-story, 75,652 RSF Class “B”
office building in 2014
• Located on the water in the affluent Miami
submarket of Coconut Grove, Florida
• Building is currently 100% occupied by two
major tenants

Highland Park Office Center


• Purchased the 11-story commercial office
building in 2014
• An 17,860 SF parcel of land with 40,772 RSF of
office space and a 126-space structured parking
garage
• Located in the Jackson Memorial Hospital
Medical District in Miami, Florida

Sereno
• Luxury Condominium
• Located in the Bay Harbor market
• Includes 38 luxury residential units
• $38MM, Completed in 2016,

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Sponsor Overview - Adler Group

Adler Group
Adler Group is a multigenerational real estate company headquartered in Miami, Florida. Adler Group and its
affiliates employ approximately 100 people who offer a seamless network of services designed to maximize the
value and strength of the organization’s real estate assets.

Throughout its 60-year history, Adler Group has developed in excess of 10 million square feet of industrial, office,
retail and 8,000 residential units. Today, by means of relationships with a prestigious list of institutional and
private investors and nationally recognized financial lenders, the company owns and manages an extensive real
estate portfolio of approximately nine million square feet of commercial properties, 1,300 units of residential
development and 300 acres of developable land.

The assets are located in the strategic markets of the Southeast, Mid-Atlantic and Southwest United States,
including Miami, Ft. Lauderdale, Naples, Orlando, Tampa, Houston, Dallas, Charlotte, Nashville, Ontario,
Norfolk, Richmond, Northern Virginia and the Greater

Washington D.C. area. Our properties include a wide range of strong-performing, multi-tenant residential,
industrial, flex, office and retail assets. The company provides direct services to its own portfolio properties,
while also extending its capabilities to owner clients that seek quality, professional real estate support. Adler
Group is comprised of three separate operating companies: Adler Development, Adler Realty Services and
Adler Kawa.

Adler Development
Adler Development provides vision, reliability and an in-depth understanding of the marketplace to meet the
needs of Adler Group and client properties. The company offers a full suite of development services, including
economic and market analysis, assistance with land acquisition, master planning, regional impact analysis, con-
struction management and litigation support.

Adler Development has directed the development of millions of square feet of residential, commercial, and retail
projects spanning from South Florida to Ohio. From pre-design through post-construction, the company
achieves results with efficiency and a clear focus on cost-effective strategies that produce the bottom line.
By guiding projects carefully through each detailed stage of development and construction, Adler consistently
secures winning results for its clients, including substantial savings in time and money. The development team
consists of experts with backgrounds in real estate, land planning, development, architecture, construction,
space planning, interior design, graphic design, corporate signage and corporate branding.

Current Projects
Adler is currently developing over 1,300 units in four market rate multifamily apartment projects throughout
Florida. The Shorecrest project is a 467-unit, two-tower multifamily development recently completed on 79th
Street and Biscayne Bay in Miami. Adler’s partners include ECI Group, Canyon Capital Realty Advisors, Capital
One and SunTrust. The Midtown 29 project is a 309-unit multifamily tower development in Miami, FL. Adler’s
partners include the Fifteen Group and the Encore Housing Opportunity Fund. In partnership with 13th Floor In-
vestments, Adler is developing a 25-story Class A luxury high-rise urban living project with 294 multifamily units
located on 0.87 acres in Dadeland area of Miami-Dade, FL. In partnership with Hilco Global, Adler is developing a
300-acre industrial park in Mansfield, OH.

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Industrial
Adler Development is one of the largest warehouse, distribution and light industrial developers in Florida.
The company developed the highly successful FlexxSpace concept and set the new standard in small office
warehouse incubator space throughout the Southeast United States. Highlights from Adler’s industrial/flex
property portfolio have included New Town Commerce Center in Davie and Sunport Commerce Center in
Orlando.

Mixed Use Business Parks


Adler has developed several large business park projects in Florida, from Miami International Commerce Center
(MICC) to the Vista Center in West Palm Beach to Boca Commerce Center. The success of these developments
was due to Adler’s ability to carefully plan the parks with a diversity of uses. The park projects included
industrial, retail, office, hotels and recreational components, including golf courses and health and fitness facili-
ties.

Office
Adler Development has successfully developed several million square feet of office space in Florida. Prominent
developments include 1221 Brickell, in the heart of Miami’s financial district, Gables One Tower on South Dixie
Highway in Coral Gables and 1170 Kane Concourse in Bay Harbor Islands.

Retail
Adler Development works closely with national retailers throughout the Southeast United States. The company
has developed key projects from large, single-tenant commercial development to small, speculative retail cen-
ters. Adler Development also prides itself in its successful development of in-fill projects.

Adler Realty Services


Adler Realty Services’ mission is to maximize the value of commercial real estate for its stakeholders by pro-
viding best-in-class service. Adler Realty Services specializes in a customized approach to scalable real estate
solutions. Located throughout the Southeast, Mid-Atlantic and Southwest, Adler Realty Services is capable of
applying its value-added solutions on a vast scope. Adler Realty Services is uniquely qualified to create full-
scale real estate programs for its clientele. Solutions are seamlessly integrated to achieve the client’s objective.
Adler’s years of experience and region-wide availability ensure a quality of service across a variety of offerings,
including: tenant/investor representation, landlord representation, property management, project management,
acquisition and disposition support, and real estate brokerage.

Adler Kawa Real Estate Advisors is a joint venture between Adler Group, Kawa Capital Partners and Ganot
Capital. Adler Kawa Real Estate Advisors raises money through its own nondiscretionary investment funds for
the acquisition of multi-tenant office, flex and industrial properties in the Southern and Eastern United States.
Adler Kawa is led by Matthew L. Adler and a team of seasoned professionals with a long and successful history
of deploying capital and generating substantial returns through real estate investment.

Adler Group History


Adler’s first projects were residential developments, starting in North Bay Village in 1957 with East Drive
Apartments and The Anchorage. Adler continued to build approximately 8,000 apartments throughout the
1960s, 1970s, and 1980s, selling the portfolio in 1983. Adler’s visionary residential development projects in Miami
included Gables Waterway Tower located at 90 Edgewater Drive, the first high-rise waterfront project in Coral
Gables, Camelot Hall located on the ocean in Bal Harbour, and IL Villagio, developed in 1999 as one of South
Beach’s premier oceanfront condominiums.

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Adler acquired a 167-acre property from the Tisch Family in 1978 that started the foundation for Miami
International Commerce
Adler acquired Center
a 167-acre (MICC),
property from which
the Tischin Family
a jointinventure
1978 thatwith MetLife
started Adler grew
the foundation to 350 acres and built
for Miami
out to International
over four million
Commerce square feet.
Center MICC
(MICC), is one
which in aof the
joint largest
venture withmixed-use
MetLife Adler parks
grew in the acres
to 350 Southeast US and the
and built
pioneering
out toproject
over fourof Miami’s
million Airport
square West
feet. MICC sub-market.
is one of the largestOther development
mixed-use highlights
parks in the Southeast included
US and thethe 320-acre
Boca Commerce Center,
pioneering project the 500-acre
of Miami’s Vista
Airport West Center mixed-use
sub-market. corporate
Other development parkincluded
highlights golf course in West
the 320-acre Palm Beach
Boca
Commerce Center, the 500-acre Vista Center mixed-use corporate park golf course in West
and 1221 Brickell Avenue, a Class A office building in Miami’s financial district. Since 1997, Adler has deployedPalm Beach and
1221 Brickell
$330 million Avenue,
in equity a Class
capital A office building
acquiring in Miami’s
over $900 financial
million district.and
in assets Since 1997,
over 13 Adler hassquare
million deployed $330
feet.
million in equity capital acquiring over $900 million in assets and over 13 million square feet.

Sample of Past Adler Development Projects


Sample of Past Adler Development Projects
Most Relevant

Shorecrest Club, Miami, FL


Client: Adler Group
Client Contact: Michael M. Adler, CEO.
(madler@adlergroup.com , 305-392-4001)
Description of Work: Shorecrest Club features a 467-unit, 20-
story, two-tower luxury apartment complex comprising
432,022 SF of rentable residential and 4,200 SF of rentable
retail space
Contract Value: Approximately $95,000,000
Contract Dates: Commenced January 2013. Final Certificate
of Occupancy received in April 2015
Proposers Role: Project Developer / Construction Manager /
Prime Contractor
Result: Successfully completed construction of the project.
Following completion, project was leased up and sold to a
long-term real estate owner/operator.
Partners: ECI Group, Canyon Johnson

Pearce at Pavilion Luxury Apartments, Brandon, FL


Client: Adler Group
Client Contact: Michael M. Adler, CEO.
(madler@adlergroup.com , 305-392-4001)
Description of Work: Pearce at Pavilion, features six, 4-story
garden style residential buildings comprising 250 multifamily
units (248,000 SF of leasable area) on 13.6 acres of land
Contract Value: Approximately $38,000,000
Contract Dates: Commenced February 2016. Final Certificate
of Occupancy received in July 2016
Proposers Role: Project Developer / Construction Manager /
Prime Contractor
Result: Successfully completed construction of the project.
Following completion, project was leased up and sold to a
long-term real estate owner/operator.
Partners: Mattoni Group, Atlantic American Opportunities
Fund

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Other Projects

1221 Brickell:
• Location: Miami, FL
• Property Type: Office
• Square, Feet: 651,107
• Description: Class “A” Office building located on the
prestigious Brickell Avenue and 12 Street

Adler Plaza:
• Location: Doral, FL
• Property Type: Office
• Square Feet: 39,079
• Description: A five-story Class A office building with
fixed tinted glass windows, various exterior accents,
and covered parking

IL Villagio:
• Location: Miami Beach, FL
• Property Type: Residential
• Units: 80
• Description: A premier condominium project in
prestigious South Beach with a total project cost
of over $36 million

Boca Commerce Center:


• Location: Boca Raton, FL
• Property Type: Office/Industrial
• Square, Feet: 423,100
• Description: 328-acre master-planned mixed-use
business park

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New Town Commerce Park:


• Location: Fort Lauderdale, FL
• Property Type: Industrial/Office/Flex
• Square, Feet: 152,657
• Description: A Class A, upscale complex consisting
of 5 buildings of office, showroom and street-level
warehouse spaces

Pavilion Crossings:
• Location: Brandon, FL
• Property Type: Retail
• Description: A shopping center with a 45,600 square
foot Publix anchor, 16,300 square feet of in-line retail
and 4.29 acres of outparcel sites

Vista Center:
• Location: West Palm Beach, FL
• Property Type: Office/Industrial
• Square Feet: 852,000
• Description: 497-acre master-planned mixed-use
business park with golf course

Gables One Tower:


• Location: Miami, FL
• Property Type: Office
• Square, Feet: 238,000
• Description: Multi-story office building located along
US 1 across from the University of Miami Campus.
Originally developed by Adler, acquired the property
in 1998 as an opportunity to reposition a quality,
well-located asset through capital improvements,
proactive management and leasing.

Miami International Commerce Center:


• Location: Miami, FL
• Property Type: Office/Industrial/Flex
• Square Feet: 4,000,000
• Description: 340-acre master-planned mixed-use
business park with excellent access & frontage to major
highways

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County Related Development Experiance


Dadeland North Phase III - Adler 13th Floor Joint Venture

• Contract Administered by: Miami-Dade Transit


Authority
• Description: Ground Lease
• Total Contract Amount: 5.75% of gross rent the first
five years, 5.35% thereafter
• Term of Contract: 90 years
• County Contact person: Froilan Baez
• An Affiliate of the Proposer, Pellinore Dadeland LP
• Project Result: Project is currently under construction
for 294 unit multifamily units with 8,346 SF of ground
floor retail, on schedule and under budget.
• Building Cost $82MM

Link at Douglas Station - Adler 13th Floor Joint Venture

• Contract Administered by: Miami-Dade Transit


Department
• Description: Ground Lease of approximately 7 acres at
the Douglas Metro Station with plans to develop the
station and its surroundings into a unique center where
residents and visitors can live, work, and play. Link at
Douglas Station will deliver a mixed use setting that is
functionally and aesthetically integrated with the
community.
• Contract: 3% of Gross Rents + Station Improvements of
$15MM (annual rent expected at $1.5MM
• Term of the Contract: 90 Years
• County Contact Person: Jose Vidal
• Proposer, Adler 13th Floor Douglas Station, LP
• Project Result: Currently in-progress, on schedule and
on budget for 1,375 residential units, 281K SF office,
60K SF Retail, 70K SF Open space

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County Related Development Experiance (Cont.)


Miami International Airport Newslink
• Contract Administered by: Miami-Dade Aviation Department
• Description: Lease Concession Agreement for a Retail Concessions Program
• Total Contract Amount: Total minimum annual guarantee $6.16 million
• Term of Contract: 2008-Present
• County Contact Person: George M. Burgess
• Statement of whether Proposer was the prime contractor or subcontractor: Adler Realty Services, LLC an
affiliate of the Adler Group
• Project Result: Successfully operating retail concessions program as per lease and fulfilling all obligations as
set forth in the lease

Opa Locka Airport


• Contract Administered by: Miami-Dade County Aviation Department
• Description: Ground Lease of 181 acres of land at the Opa Locka Airport to develop and/or Operate facilities
a portion of the Airport in order to improve and serve the Airport and the aviation community by construc-
tion new Improvements at the Airport and providing and/or facilitate the providing of aviation services at the
Airport, and to serve non-aviation proposes which further support the aviation community.
• $162,900,000 in anticipated development and construction costs. Aviation Annual Land Rent of $0.15 for
each square foot of land and $0.05 for each square foot of exiting pavement. A Fair Market Value rental rate
for non-aviation uses, as determined on a Parcel by Parcel basis.
• Term of the Contract: 55 Years
• County Contact Person: Aviation Director
• An affiliate of the Proposer, AA Acquisitions, LLC negotiated the Lease and began construction. At this time
the Proposer in no longer affiliated with the project.
• Project Result: Project is currently under development of Phase 1 with a fixed based operator, hangar facilities,
and significant site work completed.

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Affordable Housing Sponsor Background and


Experience
Cornerstone Group - Affordable Housing Sponsor

The Cornerstone Group (Cornerstone) is a fully integrated residential real estate firm, providing development,
construction and property management services for affordable rental and workforce housing communities
throughout the State of Florida. The principals presently have a portfolio of 15,000 affordable rental units, and
have completed over 1,000 workforce housing units. Both Builder and Apartment Finance Today magazine
ranked an affiliated entity as the 10th-largest developer in the United States for 2002. Other awards received by
Cornerstone are listed in Section II.

The success experienced over the past years is a direct result of the firm's strong foundation of experience and
financial resources. The organization's success is also in large part a testament to the faith the local and state
financial institutions have in the talent and abilities of the principals of the organization. It has been through the
support of such institutions that Cornerstone has been able to obtain over $1 billion in local and state subsidies
and tax-exempt bonds for its affordable rental projects (See Section II).

These subsidies allow Cornerstone to offer properties to local residents that provide amenity packages,
landscaping and social activities, which not only are on a par with market rate communities, but also offer rental
rates that are typically $100 - $700 below those of market rate rental communities. These communities have
won awards such as the one garnered by Cornerstones Clipper Cove community in October 2001. Located in
Tampa, Clipper Cove won a meritorious award from the National Association of Local Housing Finance
Authorities (NAHLFA) at its annual convention. Additionally, Banyan Pointe, located in Broward County, Florida
won the 2002 award from the Southeast Apartment Association as the top affordable housing community of
the year. Harbour Cove in Hallandale Beach, Florida won the Floridas BEST award in 2007 from the Builders
Association of South Florida.

The subsidies for end buyers that Cornerstone has obtained also allow Cornerstone to offer homeownership
properties to households earning as low as $25,000 and monthly payments that are within $50 of the tax credit
rents of nearby communities. While it takes tremendous time and energy to help these households achieve their
dreams of homeownership, the reward it brings in knowing Cornerstone has helped someone be able to afford
their own home is priceless. Since 2006, Cornerstone has helped close to 100 households achieve their dream
of homeownership through the use of such subsidies. Moreover, through its own affordable housing
communities and Cornerstones commitment to provide 5% down payment assistance to affordable housing
residents who leave to purchase a home, Cornerstone has helped hundreds of more households to attain their
dream of homeownership, throughout the State of Florida.

Cornerstone was established in 1993 with, at that time, more than 40 years of collective multifamily residential
development, finance and property management experience to their credit. In the past 22 years since its
founding, the principals have developed over 65 affordable housing properties across the State of Florida. The
multi-award winning company now operates five integrated but wholly independent divisions to develop and
manage Cornerstone properties and provide third-party services to client companies.

The principals of Cornerstone are Jorge Lopez, Leon J. Wolfe and Mara S. Mades. Cornerstone Residential
Management is a full-service property management company that services all Cornerstone communities and is
led by Nola Castillo. Brookstone Construction, LLC is a state-licensed general contracting and construction
management firm. Finally, Mainstream Communications is a company that wires residential and commercial
developments for telephone, security, Internet, cable and satellite TV.

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The company also takes pride in providing tenant services at its affordable housing communities that enrich and
augment the quality of life of its residents. Cornerstone provides a range of tenant services, such as educational,
financial and social activities. These services allow the tenants to improve their work skills, such as computer
expertise, and to improve their financial skills, such as budgeting for down payments for their future homes.
The homeownership program returns 5 percent of residents annual rent if they have been in the community for
at least 2 years and are moving into homeownership.

With a minority make-up of over 65 percent, Cornerstone employs people from all over the world. In light of
this, the company makes a great effort to create a harmonious, multi-cultural environment that celebrates
diversity and addresses employees needs.

Cornerstones aggressive employee initiatives continue to improve the quality of life at work as well as offering
financial incentives to employees. In 2001, the principals instituted a formal company-wide 401(k) program.
Education reimbursement is another initiative that benefits both employees and the corporate structure overall.
The program provides tuition reimbursement once an employee passes a course directly related to their position.

Cornerstone's operating strategy has been to take advantage of the tremendous growth rate in the State of
Florida. Its success is insured by focusing its attention on selecting prime locations and building an attractive,
high quality product. Such factors are the key to providing rental housing in a market that continues to
experience a steady influx of new residents. It is Cornerstones goal and objective to remain committed to the
Florida markets, providing a wide range of quality residential housing, tenant and management services to its
residents.

Major Business Functions

Development

Cornerstones philosophy is to create value by developing high quality, rental housing properties for low- and
moderate-income households. In order to achieve this goal, it is necessary to obtain cost-effective sites and to
provide an attractive product that meets the needs of today's residents. This requires expert knowledge of
federal housing laws, as well as an understanding of local rental housing needs, zoning restrictions, building
codes and market forces. The key to success in the affordable marketplace is the maintenance of productive
relationships with local, state and federal governmental authorities.

Management

An integral part of The Cornerstone Group is its ability to manage and maintain properties to ensure their long-
term viability. An affiliate, Cornerstone Residential Management, provides complete marketing, leasing,
administrative, accounting, compliance and other services for its own properties, as well as for others on a fee
basis. Cornerstone has extensive experience in the area as a result of many years of management experience
with various types of housing projects, including both affordable housing and market rate properties. This
extensive experience in affordable housing, most particularly in providing compliance with subsidy regulations
and requirements, is what distinguishes Cornerstone Residential Management from other management
companies.

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Construction

To maintain control over the construction process, Cornerstone has an affiliated General Contracting company,
Brookstone Construction, LLC. ("CGC"). CGC acts as the construction manager and general contractor for projects
developed by Cornerstone and third parties. Since inception through 2011, the principals of CGC has completed
construction of over 15,000 units throughout the State of Florida. CGCs direct involvement in all aspects of the
design and construction phase ensures the highest value and best quality.

Cornerstone also develops and constructs affordable housing for governmental and financial clients, such as Bank
of America Community Development Corporation (Centro Place, an award-winning project located in the Ybor
area of Tampa) and the Tampa Housing Authority (Gardens at South Bay, adjacent to the critically important McDill
Air Force Base in Tampa, Florida), along with the affordable housing it provides for its numerous non profit, lender,
limited partner and municipal clients.

Examples of innovative financing arrangements

Cornerstone has been able to achieve this mission of providing quality affordable housing because of its expertise
in innovative financing structures, such as:

- First developer in the State of Florida to develop affordable housing using tax-exempt bonds and HUD
221(d)(4) financing, in 1998, with the development of the Oaks at Pompano.

- One of the first developers in the State of Florida to utilize the Florida Housing Finance Corporation’s HUD risk-
sharing program, in 1997, with the development of Spinnaker Cove. The program was an innovative credit-
enhancement program where the FHFC took the top loss risk on a foreclosure, with an A-rated entity that was
supported by document stamp receipts, and that entity was wrapped with AAA-rated HUD guarantees.

- First developer in State of Florida to receive a $1 million FHLB allocation for multifamily affordable housing, for
both Villa Capri and Captiva Cove, both funded in the same cycle from the FHLB Atlanta.

- One of the first developers in the State of Florida to transfer a 40 year old HUD 202 elderly contract to a new
construction project, Superior Manor, in Summer 2016. The transfer will therefore allow the residents in the existing
project to move to the new construction community. And the developer can then demolish the older obsolete
building and re-develop the with new construction affordable housing.

- The first developer in Miami-Dade County in 10+ years to obtain project based vouchers, for a new construction,
non-public housing community in March 2015, for Coquina Place. The 24 vouchers allowed the project’s first
mortgage to increase by almost $1,000,000, thereby allowing the community to move forward with sufficient
financing.

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- Cornerstone is among the first developers to be awarded project based vouchers from Miami Homes for All, who
received an allocation in August 2015 for 200 vouchers over 4 years.

- Cornerstone has utilized an extremely wide range of private placements and credit enhancements for tax exempt
bonds, including: FHFC A rated Guarantee Program, where Cornerstone was the largest developer in their program;
HUD Risk-share, FNMA, HUD 221(d)(4), HUD 223(f), Wells Fargo mutual fund private placement, Nuveen Fund
private placement, Chartermac private placement, Citibank and J.P. Morgan Chase private placements, FNMA
floater program.

- Cornerstone has one of the largest HUD-financed portfolios in the State of Florida, with $245 million of
refinancings over the past several years, for 17 properties.

- Cornerstone has refinanced 31 properties with $400+ million of debt over the past approximately 5 years, at an
average interest rate of approximately 4%.

- Cornerstone was one of the first South Florida developers to resyndicate existing projects, with River Oaks, a 160
unit Florida City project originally awarded 9% credits and FHFC HOME funds in 1994. River Oaks completed its
rehab in Summer 2016, thereby allowing residents of this older community to now enjoy updated, quality housing.
At the same time, Cornerstone reduced the rents, setting aside 15% of the units for extremely low income
households.

- Cornerstone in 1994 was awarded 7 tax credit projects, more than any other previous developer had received. This
was also Cornerstone’s first cycle, having just established the company 6 months prior to the 1994 LIHTC cycle.

- Cornerstone has received the most SAIL funds from the FHFC, with 38 SAIL loans totaling $100,727,000.

- Cornerstone was the recipient in 2008 of one of the very few successful Community Workforce Housing
Innovation Pilot Program (“CWHIP”) loans, in the amount of $5 million. Cornerstone utilized those funds to build 58
mixed-income homeownership units and 122 mixed-income rental units at the Preserve at Boynton Beach. The
CWHIP program was created at that time because of the rapidly escalating housing prices that had locked out
workforce families from both home purchase and in many cases, rentals, as so many rental units were converted to
condominiums and no longer available as rental housing.

- Cornerstone similarly developed a combination of mixed-income workforce rental and affordable rental housing at
Solabella, a Miami Gardens townhome community that delivered in early 2013, and which included 112
homeownership units and 92 affordable rental units. Cornerstone was the first developer in Miami-Dade County to
offer mixed-income homeownership and rental residences in the same community.

- Cornerstone has received among the most PHCD subsidy, or 30 projects and $95 million of local HOME, SHIP,
CDBG and Surtax funding.

- Cornerstone has received the most Broward County subsidy, at $7.9 million for 11 projects. This is significant, as
Broward County only receives approximately $1 million per annum that it can allocate to affordable rental housing.
Those subsidies have enabled Cornerstone to have a portfolio of almost 3,000 affordable housing units in Broward
County, the largest affordable housing portfolio in Broward.

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- Cornerstone has not relied solely on the 9% tax credit program to build affordable housing. The 9% LIHTC RFAs’
tiebreaker has historically been a lottery number, and with 50 projects submitted from Miami-Dade County each
year and now the County only being allocated 3 new construction projects per annum, it is a very low percentage of
projects that can be funded. If Cornerstone had relied solely on that program, it wouldn’t have been able to build
the thousands of affordable rental residences across the County in the past several years.
It is critical to the success of the developments that its development partner can create these local, state and federal
relationships, in large part because it cannot depend solely on a developer who has only been awarded 9% tax
credit projects. With very few projects awarded 9% tax credits each year, the redevelopment of the site would take
many, many years to come to fruition. 90% of Cornerstone’s affordable housing communities have been financed
through the tax-exempt bond financing structure, with 4% tax credits and local, state and federal funds. In sum,
Cornerstone’s principals’ have the depth of experience and the wherewithal to bring unique financing structures and
significant subsidy to the project. This expertise will allow the project to move forward at an expeditious pace.

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Methodology for Obtaining Building Permits and


Regulatory Approvals

With a combined history that spans 50+ years, Adler and 13th Floor Investments have devel-
oped industrial, office, retail and residential units throughout the state of Florida, and with
the decades of experience, the companies have become extremely knowledgeable with the
Florida Building Code. We are very familiar with the permit and regulatory process, begin-
ning with the comprehensive development master plan, zoning approval, land subdivision/
plat approval, infrastructure approval, construction permitting approval, inspections approval,
and finally obtaining the certificate of occupancy.

The team is committed to following a Private Provider plan review process to expedite the process consistent
with the fast-tracked schedule strategy.

The Private Provider engaged for the Project is MTCI. Florida Statute 553.791 authorizes MTCI to review and
sign-off on the five main building disciplines (structural, building, mechanical, electrical, and plumbing). To
obtain a permit, approval from outside agencies (i.e., fire, derm, zoning, public works, WASA, etc.) is also
required.

Comments from the review team are made available on MTCI's web based system for the design team to
address immediately. Throughout this process the MTCI reviewers will work cohesively with the design team
to complete the plan review stage on time. Upon determining that the plans meet the code requirements,
MTCI will prepare affidavits signed and sealed by professional engineers for each trade.

While MTCI is reviewing the plans, identical sets will be submitted to the City of Miami to begin the process
with the outside agencies. Once approval from these agencies are obtained, plans are consolidated with
MTCI’s approved set and resubmitted to the City along with affidavits for final approval. The building
department will issue the building permit upon approval from all required departments.

MTCI will perform inspections required by the Florida Building Code, typically performed by the City of Miami
Building Department personnel. Inspections will be performed by State of Florida licensed inspectors.
Pursuant to the Florida Building Code, a registered professional engineer will oversee the work being
performed by the inspectors on a regular basis.

A pre-construction meeting with MTCI's project manager and inspectors along with the contractors will take
place at the jobsite prior to commencing construction. During the meeting, MTCI's project manager will deliver
the inspection log books, review the project schedule, inspection procedures and offer recommendations for
the most effective and cost-saving approach to requesting inspections.

MTCI's inspectors will perform the required inspections and provide a detailed report of their findings. A copy
of the inspection report is filed in the inspection log book stored on the building site and made available for
review by the City. Upon completion of all required inspections, MTCI will prepare a certificate of compliance,
signed and sealed by the engineer attesting the building construction inspected complies with the approved
plans and applicable codes.

While MTCI reviews the plans to obtain a master permit, identical sets will be submitted to the City to begin
the phase permit process. To expedite the process we will proceed with a Class II (Foundation only permit)
Upon completion of one round of review and approval from outside agencies, a phase permit is issued.
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Provide any other information demonstrating the


Proposers ability to complete the development as
proposed
As shown on the proposal, both 13th Floor Investments and Adler Group have extensive development
experience independently. At the same time, the two companies have already partnered to develop two
additional Transit Oriented Developments on county-owned land. With the Cornerstone group partnership (for
the affordable component), the team brings unrivaled development expertise covering all aspects of the
development program.

See Appendix D for a Spotlight on 13 Adler Transit Oriented Partnership.

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10
Key Personnel and
Subcontractors
Performing Services
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Project Managers

Rey Melendi David S. Adler


President
Chief Operating Officer 13th Floor
Adler Development, Inc.
Investments

3150 SW 38th Ave, Suite 530 Miami,


848 Brickell Avenue PH1 Miami, FL 33131
Florida 33146
Direct 786-693-7116
305-392-4050
Email: rmelendi@13fi.com Website:
Email: dadler@adlergroup.com Website:
www.13fi.com
www.adlergroup.com

Background Background
Rey Melendi oversees the development, David S. Adler is the president of Adler
construction, and operations of the Development, LLC, the development and
fund’s assets. His areas of expertise project management division of Adler
include construction, development, Group, Inc. In this position, he is responsible
entitlement, and permitting. Previously, for contributing to the development and
Mr. Melendi was the Director of REO at acquisition of high-rise multifamily,
Rialto Capital where he man-aged > industrial, office and retail properties. David
$300M in REO properties. Prior to this, is a member of the Florida International
Mr. Melendi spent 17 years at Lennar. He University Foundation Board of Directors; is
holds an associate degree in Criminal a dedicated member of the Young
Justice and has a General Contractor’s Founders Club at Mount Sinai Medical
License. Center; and is the Treasurer of the Jewish
Museum of Florida.

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Organization Chart

Proposer Principals
Affordable Lead Non-Profit Partner Group
Arnaud Karsenti, Managing Principal 13 th Floor Investments
Lenny Wolfe, Principal Overtown Youth Center – (0.25% Revenue Share Program)
Cornerstone Group Michael Adler, Chairman Adler Group
Leon Wolf, Cornerstone Group

Project Managers
Rey Melendi, COO 13 Floor Investments
David Adler, President Adler Group

Assistant Project Managers Finance and Accounting


Jonathan Raiffe, COO Adler Group Daryl Shevin, CFO 13 th Floor Investments
Aaron Stolear, Associate VP 13 Floor Investments Morgan Sirlin, Senior Financial Analyst Adler Group

Architecture and Design General Contractor Civil Engineering Property Management Legal Representation Retail Leasing Community Outreach
Robert Behar, Willie Real,, Albert Herrera, Kimley- Jim Fawcett Ryan Bailine, Greenberg Seth Gadinsky Myya Passmore
Behar-Font & Partners Civic Construction Horn Greystar Taurig Gadinsky Real Estate & Culture 44
Associates

Office Leasing Environmental


Design Lead Private Provider Tere Blanca, Sustainability
Neil Hall Michael Caulsey Blanca Commercial Real The Spinakker Group
MTCI Estate

Landscape Architect
Andy Witkin,
Witkin Hults

Subcontractors

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Key Sponsor Personnel Resume

Mr. Karsenti is responsible for defining the firm’s investment strategy and overall capi-
talization model.  Mr. Karsenti is focused on opportunity sourcing, revenue generation
and fund raising from investors and lenders. Mr. Karsenti has effectuated and partic-
ipated in >$1Bn in real estate and private equity transactions. Mr. Karsenti graduated
cum laude from the Pratt School of Engineering at Duke University, with a degree in
Mechanical Engineering, and holds an MBA from the Harvard Business School.

ARNAUD KARSENTI
Managing Principal,
13th Floor Investments

As the chairman and chief executive officer of Adler Group, Inc., one of South Flori-
da’s largest and most successful real estate companies, Michael M. Adler has played a
significant role in the growth and development of South Florida as a major center for
international trade. Michael graduated from the University of Miami with a bachelor’s
degree in business administration in 1973. He is a member of the National Association
of Industrial & Office Properties (NAIOP), the Beacon Council and Greater Miami Cham-
ber.

MICHAEL M. ADLER
Chief Executive Officer,
Adler Group

David S. Adler is the president of Adler Development, LLC, the development and
project management division of Adler Group, Inc. In this position, he is responsible for
contributing to the development and acquisition of high-rise multifamily, industrial,
office and retail properties. David is a member of the Florida International University
Foundation Board of Directors; is a dedicated member of the Young Founders Club at
Mount Sinai Medical Center; and is the Treasurer of the Jewish Museum of Florida.

DAVID S. ADLER
President,
Adler Group

Rey Melendi oversees the development, construction, and operations of the fund’s
assets. His areas of expertise include construction, development, entitlement, and
permitting. Previously, Mr. Melendi was the Director of REO at Rialto Capital where he
man-aged >$300M in REO properties. Prior to this, Mr. Melendi spent 17 years at
Lennar. He holds an associate degree in Criminal Justice and has a General
Contractor’s License.

REYNALDO MELENDI
Chief Operating Officer
13th Floor Investments

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Mr. Wolfe practiced law for 20 years prior to joining Cornerstone, focusing on real
estate development, taxation and corporate law. He was a founding partner of the
Miami-based law firm of Berman Wolfe Rennert Vogel Mandler, P.A. Concentrating his
practice in multi-use developments and multi-family housing, Mr. Wolfe represented
developers, syndicators, borrowers and lenders in Florida and throughout the United
States in connection with the evaluation, structuring, acquisition, financing,
development and syndication of residential, commercial and industrial projects as well
as mixed-use residential and commercial developments. He also has broad experience
with taxable and tax-exempt public and private bond offerings, involving a wide
LEON WOLFE variety of issuers and credit enhancers, as well as housing tax credits and other state
Principal, Conerstone and federal programs. He participated as a lawyer in the development of almost
10,000 affordable housing units.

Over the past 9 years, Ms. Baldwin has accumulated a broad set of expertise across
multiple disciplines, including Property Management, Affordable and Workforce
Housing Finance, and Project Management. Her competencies include affordable
housing finance/modeling, strategic planning, community engagement, and public-
private partnerships. Before joining Cornerstone Group, Ms. Baldwin was employed
with AHS Development Group where her primary functions included orchestration of
land use and zoning changes, securing site plan, environmental, and building
approvals, and oversight of construction progress. Her prior experience also includes
working with non-profit development organizations in the area of real estate
JASMIN BALDWIN
Affordable Development Lead development/construction and finance. During her time in the non-profit sector she
Cornerstone participated in the strategic redevelopment of several South Florida low-income
neighborhood through the use of federal funding, $80 million of NSP2 funds. This
allocation was one of the largest awards to a non-profit consortium in the Country.
Mrs. Baldwin holds a Masters in Real Estate Development degree from the University
of Miami and a Bachelor of Arts degree in Business and Finance from Florida
International University (Magna Cum Laude). Other academic and professional
qualifications include National Charrette System Certificate Training, licensed Florida
real-estate sales associate, member of The Greater Miami Chamber of Commerce
Leadership Miami 2013-2014 Class, and a member of The University of Miami
Community Scholars in Affordable Housing 2014 cohort.

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Jonathan Raiffe is the Chief Operating Officer of the Adler Group. In this position, he is
responsible for all day-to-day activities of the company including acquisition, in-
vestment, predevelopment, construction and financial management of all developing
projects. Raiffe formerly served as Adler Group’s Director of Finance. Raiffe earned
a Bachelor of Arts, majoring in anthropology, and a Bachelor of Science in Business
Administration, from Washington University. He also received a Master of Science in
Finance and a Master of Science in International Real Estate from Florida International
JONATHAN RAIFFE
University.
Chief Operating Officer,
Adler Group

Daryl A. Shevin, CFA, joined 13th Floor Investments as CFO in 2010. In his role, Mr.
Shevin’s primary responsibilities include overseeing all financial aspects of the firm.
Mr. Shevin has facilitated the closing of $340 million of debt and $285 million in equity
across 30 vehicles while at 13th Floor. Additionally, Mr. Shevin oversees 13th Floor’s
Investor Relations team, which administers and reports on the firm’s $1 Billion in real
estate asset value.

DARYL SHEVIN
Chief Financial Officer, Principal
13th Floor Investments

Aaron Stolear recently joined the team to coordinate the Link at Douglas Project. Prior
to joining 13th Floor, Mr. Stolear worked in Project Management & Execution at Exxon-
Mobil Development Company. There, he worked on a variety of project management
functions developing infrastructure projects. He graduated as Magna Cum Laude in
Civil Engineering from the University of Florida and holds an MBA from the Harvard
Business School.

AARON STOLEAR
Associate Vice President,
13th Floor Investments

Morgan Sirlin graduated from the University of George Washington with a Bachelor of
Arts in Finance and brings with him over 8 years of finance related experience. Sirlin
joined Adler Group in June 2015 as an analyst and works with the development and
accounting departments where his responsibilities include a variety of analysis ranging
from current properties under management, acquisitions, dispositions, financing, and
ongoing development projects.

MORGAN SIRLIN
Sr Financial Analyst
Adler Group

Adam Mait joined Adler Development in August 2015 as a Development Coordinator.


Mait graduated cum laude from the University of Pennsylvania with a Bachelor of Arts
and cum laude with a Juris Doctor from the University of Florida - Levin College of
Law. Mait worked as an Assistant State Attorney at the Miami-Dade State Attorney’s
Office, rising to the position of the Assistant Chief of the Narcotics Unit.  Mait also ran
his own law practice, Mait Law LLC. Mait is a member of the Florida Bar and the
United States District Court for the Southern District of Florida.
ADAM MAIT
Development Vice President Adler Group

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Sponsor Team Roles and Responsibilities
Partners
The Partners are the visible owners of the Development Program. Accountable for successful delivery
and completion of the project.

Key Responsibilities:
• Create a venture culture that drives ownership, efficiency and proactive behavior throughout the ven-
ture.
• Establish a highly capable and experiences project management team
• Ensure the Project Management team has access to the right resources to effectively execute their
responsibilities.
• Oversee the project management process and drive any strategic changes
• Be the visible owner of the overall business program
• When enacting change, The Partners must ensure that the change process maintains its business fo-
cus, including actively managing risks involved.
• The Partners are prepared to make decisions and should be proactive in providing leadership and
direction throughout the life of the development. They should be responsible for ensuring the organi-
zation can fully execute the desired outcome.
• Ensure that the Development meets its objectives and delivers projected benefits

Project Managers
The project manager are the individuals responsible for delivering the project. The individual leads and manages
the project team, with authority and responsibility from the sponsorship team, to run the project on a day-to-day
basis.

The project manager has an important role in interfacing between the project and the respective Stakeholders
(County, Community, Contractors, DTPW, etc).
Key Responsibilities:
The project manager, operating within agreed reporting structures, is responsible for:
• Designing and applying appropriate project management processes
• Managing the production of the required deliverables
• Planning and monitoring the project
• Preparing and maintaining project, stage and exception plans as required
• Managing project risks, including the development of contingency plans
• Liaison with community and business stakeholder’s management.
• Monitoring overall progress and use of resources, initiating corrective action where necessary
• Reporting through agreed lines on project progress through highlight reports and end-stage assess-
ments.
• Maintaining an awareness of potential interdependencies within the work scopes.
• Managing project administration

Assistant Project Managers


Assistant Project Managers are individuals with appropriate and complementary professional, technical or spe-
cialist skills. Under the direction of the Project Managers, these individuals are responsible for developing and
executing the detailed in the project plan.

Key Responsibilities:

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These individuals are responsible for:


• Managing the day to day project administration through designers, contractor and subcontractors
• Ensure schedule is being met and take proactive actions to accelerate when necessary
• Ensure project controls are in place (i.e., track cost performance and keep project manager abreast of
changes.)
• Assisting the program or project manager to deliver program or strategic project objectives
• Carrying out the work tasks (within their technical expertise) of the scope at hand.
• Advising the project manager if any risks arise that are likely to affect delivery quality
• Providing information for project documentation purposes

Affordable Leads
The affordable leads are individuals with affordable housing expertise and complementary professional, techni-
cal or specialist skills. These individuals are responsible for the execution of the affordable components of the
development.

Key Responsibilities:
• Managing the day to day project planning for the affordable components.
• Managing the financing and proforma analysis for the affordable components
• Ensure successful execution of tax credits and other financing means to achieve maximum
• Drive design process to ensure compliance with affordable housing financing requirements
• Ensure design is appropriate for affordable trends including unit mix amenities and other consider-
ations
• Ensure design specifications are consistent with affordable offerings in the marketplace.

Finance and Accounting Leads


These individuals are responsible for the financing aspects of the project.
Key Responsibilities:
• Develop and maintain financial proformas and models consistent with the development program
• Lead commercial negotiations with Equity Capital Partners and ensure Equity financial feasibility is in
place
• Drive financing negotiations with Lenders and ensure debt intangibility is in place to support construc-
tion.
• Ensure project controls are in place
• Ensure quarterly financial project reports are prepared consistent with the project plans.

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Partners and Subcontractors Resume

Non-Profit Community Partners


Tina Brown is a twenty year veteran in the field of accounting and business
management for both corporate and non profit entities. In 2005 Tina was fortunate to
land a position at the Alonzo Mourning’s Overtown Youth Center as the Finance
Director. As the Finance Director, she was responsible for the oversight of a $1.8
million budget and the supervision of various departments. Tina has always had a life
long passion for empowering young people through many volunteer opportunities
within her local church, schools, and various communities. Securing a position with the
youth center was an all encompassing opportunity because it allowed Tina to work
within her field of expertise but also work in the community where she grew and
Tina Brown flourished. Tina now serves as a professional, role model and mentor for many youth
Executive Director, and families. Most importantly she is the success that the Overtown Youth Center
Overtown Youth
Center program desires to accomplish with each of the youth it serves. As of 2010, Tina
serves as the Executive Director; responsible for the effective implementation and
service delivery of Programs, Development, Finance, Facilities, and Human Resource.
Tina holds a Bachelor of Business Administration in Accounting and a Master’s degree
in Accounting.

Saliha Nelson is an experienced non-profit executive and agent for social change
specializing in strength-based approaches with low-income urban youth, youth
participatory action research and forming cross-sector coalitions that engage in
systems-level change. Ms. Nelson currently serves as Vice President of URGENT, Inc. a
non-profit youth and community development organization dedicated to empowering
youth to become agents of change and volunteers as the Chairwoman of the
Overtown Children and Youth Coalition and Barry University’s Community Advisory
Committee.
SALIHA NELSON
Vice President
URGENT

Ms. Graylyn Swilley-Woods is the Executive Director of the Overtown Children and
Youth Coalitions. She is also a senior consultant for Multicultural Tourism Initiatives
and the recent past Associate Vice President of Greater Miami Convention and
Visitors Bureau Multicultural Tourism Department, Business and Education Division.
Mrs. Woods spent more than a decade promoting the development and advancement
of Multicultural Tourism in Greater Miami and Beaches.

Having expended more than 25 years in higher education and community


enterprising, Graylyn develops programs ranging from heritage tourism and
hospitality to economic development that have received local, state and national
GRAYLYN SWILLEY-WOODS
Executive Director recognition. Her extensive training and background in community development and
Overtown Children and Youth education has guided her work in advancing heritage community tourism as a
Coalitions
sustainable economic goal. She is a leader with natural talent that builds public/
private partnerships to maximize mutual benefits.
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Architecture and Design

Robert Behar is a registered architect and urban planner with over thirty-five years of
architectural design, project management and development experience encompassing
all phases of commercial, educational, governmental, hospitality and residential devel-
opments from feasibility studies through construction completion.

ROBERT BEHAR
Project Architect, Behar Font & Partners

Neil Hall, attended the University of Florida and graduated with a Bachelors and
Masters in Architecture in 1977. Neil has worked in some of Miami’s leading
architectural firms as a designer and project manager. Throughout his career, Neil has
worked on several of Miami’s signature structures such as Bayside Marketplace and the
Miami Beach Convention Center. Neil Hall was elected as the first Black president for
the American Institute of Architects – Miami Chapter, 2000 President for the National
ROBERT BEHAR
Architect Organization of Minority Architects – representing over 6,000 Black architects
nationwide, appointed Board Member for the Miami-Dade Expressway Authority, and
past board member for oth-er organizations such as the Humane Society of Greater
NEIL HALL
Design Consultant Miami and Kristi House for Abused Children. Most recently, this past September 2007,
Neil was overwhelmingly elected to serve as Chairman of the State of Florida Board of
Architecture and Interior Design. For the last 6 years, Neil has produced Miami’s
signature African diaspora art fair in Overtown and the result has sprouted over 14
different art events in minority communities in Miami-Dade during Art Basel. His
involvement in Overtown runs the gamut from assisting local non-profit to get their
design.

Founder and President Andy Witkin began his career as an in-house landscape ar-
chitect for a national residential development company where he designed exterior
environments for dozens of large residential communities throughout South Florida. He
also gained appreciation for the needs and perspectives of developers and build-ers.
At Witkin Hults Design Group, Andy is involved with each new assignment from its
conception, defining its design direction and guiding it toward a final product which
reflects the client’s vision. He also manages the firm’s marketing activities.

ANDY WITKIN
Landscape Architect, Witkin Hults

Alberto has worked in increasing levels of responsibility and project management since
the start of his professional career and offers over 18 years of progressive experience in
project management, budgeting, office management, and design in civil engineering,
including land/site development, water and sewer collection and transmission systems,
storm drainage systems, water management, pump stations, quantity estimates, civil
and environmental permitting, and construction administration. Alberto is a registered
professional engineer in the state of Florida and a LEED Accredited Professional (AP).
He earned both his Bachelor and Master of Science in Civil Engineering from the
Alberto Herrera University of Miami. Alberto is a member of the U.S. Green Building Council (USGBC).
Civil Engineer, Kimley-Horn

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Execution, Property Management and Marketing
President - Civic Construction Company
Through Civic Construction and as a state certified general contractor, Mr Real, has
been serving our customers for the past 22 years as a construction professional. The
company has successfully completed more than a billion dollars of projects. During the
past 2 decades, William have been primarily involved in serving the private
development and institutional sectors, constructing various high-rise, mid-rise, multi-
family developments and hospitality hotel projects, as well as town-homes, custom
luxury residences, restaurants and office buildings. In addition, to many commercial,
Williiam Real educational and retail projects throughout the states of Florida and New York.
President, Civic Construction Professional Licenses:
- State of Florida Certified General Contractor,.CGC 059895.
- State of Florida Certified General Contractor CGC 1524539.

Managing Director of Real Estate – South Florida


Mr. Fawcett has 35 years in the business and is responsible for the oversight of the
property management operations of Greystars South Florida and Tampa Regional
offices. His managed portfolio consists of 66 properties totaling over 19,000 units. He
has been instrumental in building Greystars national reputation as a proven manager of
vertical multifamily assets. Jim began his career in the multifamily sector in Nash-ville in
the late 70s, before joining The Galbreath Company in 1987, which led to a 20 year stint
in the commercial real estate sector. Jim relocated to South Florida for The Galbreath
Jim Fawcett Company in 1989 to oversee its management operations, which included the start-up of
Managing Director Greystar a 20-story Class A residential/office/retail mixed use high-rise and a 77-acre
commercial office park. In 1992 Jim joined the established South Florida brokerage firm
Walters/Gottlieb Partners, where he created and ran its property management
operations for 14 years. Prior to joining Greystar Jim was the Director of Management
for The Winter Organization, a fourth gen-eration New York real estate firm specializing
in the development and management of high-rise residential and commercial
properties. Jim graduated from Belmont University with a B.B.A. He is a past President
of BOMA of South Florida and holds a RPA designation.

Myya Passmore, is the CEO of AYYM Holdings L.L.C., an Overtown based certified
Miami-Dade County SBE & M/WBE that houses Myya's marketing and public speaking
companies. Under the AYYM brand, she founded Culture 44, an integrated marketing
consulting agency focused on strengthening marketing & PR strategy, digital content
and community outreach for public sector, real estate and entertainment clients
interested in connecting with multicultural and millennial markets. Her marketing
consulting portfolio includes Steve Harvey Worldwide, Career Source South Florida, DC
Employment Services, Miami Dade County Small Business Week, Together for Children,
Miami/Bahamas Goombay Festival, Opa-Locka Community Development Business Fund
MYYA PASSMORE
CEO and The City of North Miami to name a few. Culture 44 began as an incubator and now
AYYM Holdings operates at the Overtown Business Resource Center as a thriving small business.

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Legal and Permitting

Ryan Bailines practice focuses on the development and financing of complex real
estate projects, including real estate, land use, and regulatory aspects. Noted for his
responsiveness to his clients needs, attention to detail, and his project development
acumen, Ryan represents some of the most active and prolific developers in North
America, advising on residential, commercial, industrial and mixed-use projects,
including Transit Oriented Developments (TOD), affordable housing, and public-
private endeavors. Ryan routinely works with local, regional and national regulatory
agencies to facilitate the permitting, construction, development, and financing of real
RYAN BAILINE estate projects, including negotiating ground leases, development agreements,
Shareholder,
Greenberg Taurig development rights transfers, financing documents, and joint venture agreements,
along with infrastructure and utility components. Regarding real estate finance, Ryan
routinely negotiates and secures debt and equity placement, as well as tax credit
based financing, ranging from low income housing, new market and historic tax
programs such as SAIL and HOPE VI funding sources.

Nancy B. Lash is the Co-Chair of the Miami Real Estate Practice. She represents
clients both in Florida and nationwide in broad aspects of commercial real estate. Her
experience includes the negotiation, documentation and closing of the sale, purchase,
financing and development of vacant land, office buildings, apartment buildings,
shopping centers and large-scale mixed-use, hotel, condominium, office and retail
projects. Nancy has wide-ranging experience in portfolio transactions with assets
located in jurisdictions throughout the United States. She also represents landlords
and tenants in complex lease negotiations, including ground leased developments in
NANCY B LASH
Shareholder, the public-private sector.
Greenberg Taurig

Mr. Causley has had more than 50 years experience in the construction, plans review
and inspection industry. Following a successful career in municipal building depart-
ment services, Mr. Causley established M.T. Causley, Inc. in 1996 to deliver privatized
plan review and inspection services to municipal building departments throughout
the State of Florida. Because of his knowledge and experience in the industry, he
was en-gaged by the State of Florida to contribute to the development of the Private
Provider Statute. In 2006, MTCI Private Provider Services, LLC was founded to
MICHAEL CAUSLEY provide develop-ers, contractors and property owners support to efficiently and
President, MTCI Private successfully complete their projects.
Provider

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Leasing Team

Seth Gadinsky entered the real estate business upon graduation with a Masters degree
in Civil Engineering from M.I.T. in 1983. He also holds a bachelor’s degree in Civil Engi-
neering from Tufts University where he graduated Summa Cum Laude. Over the past
32 years he has developed, leased and operated shopping centers, large and small, and
many single tenant projects for clients such as Walgreens, Starbuck’s and Blockbuster
Video. He has also represented tenants in their expansion and consulted with owners
to help bring retail projects to life on their property. Seth is a managing partner in Vin-
tage Real Estate Investment Fund and H3 Hospitality. In addition he has served as the
Florida Board Chair for the Anti-Defamation League and currently chairs the Office for
SETH GADINSKY
Gadinsky Real Eastate Retail Engaged Creativity at Florida International University’s School of Architecture and the
Leasing Broker Arts.

Tere Blanca is the Founder, Chairman and Chief Executive Officer of Blanca
Commercial Real Estate, Inc., the leading independently owned commercial real estate
services firm in Florida. She founded the firm in 2009 after identifying a need in the
marketplace for a local advisory and brokerage firm built on a culture of giving clients a
collaborative and highly personalized approach to service. Blanca Commercial Real
Estate, now a team of more than 20 top professionals, has advised clients and
executed in the leasing and sales of approximately 11 million square feet including over
6 million square feet of office lease transactions since its inception in April 2009.
Ms. Blanca has over 25 years of experience in the South Florida real estate sector,
TERE BLANCA
Office Leasing Broker, Blanca having participated in many projects ranging from land acquisition to the master
Commercial Real Estate planning, design, construction, marketing, lease-up, and sale of office and mixed-use
assets. Prior to launching Blanca Commercial Real Estate, Ms. Blanca served for five
years as Senior Managing Director for Cushman & Wakefield of Florida, Inc., where she
successfully led the firms South Florida operations, achieving significant revenue
growth and increased profitability. Ms. Blanca also held the position of senior vice
president at Codina Realty Services, Inc. ONCOR International where she was
consistently among the top producers during her 14-year tenure. Ms. Blanca holds a
Bachelor of Business Administration with a concentration in international marketing
and finance and a Master of Business Administration from the University of Miami.

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Subcontractor Background and Experience

Behar Font & Partners - Project Architect

Behar Font & Partners, P. A. is a professional organization dedicated to the practice of architecture, planning
and interior design. Our principals have a combined total of 68 years of architectural experience and, as such,
have served as architects and designers for a wide variety of project types. This varied experience includes
retail facilities from individual stores to shopping malls, residential facilities from single-family residences to
multi-unit complexes, professional office centers, religious architecture, governmental facilities, educational
facilities and multi-use complexes. Confident in our ability and experience, we continue to dedicate ourselves to
the design of creative, functional, flexible and efficient projects.

Behar Font & Partners, P. A. offers complete architectural services encompassing feasibility and zoning studies,
establishment of environmental performance standards, strategic growth management, land use objectives,
eco-nomic objectives, programming, master planning, cost estimating, architectural design, construction
document preparation, securing of local approvals/permits, as well as contract and construction administration.
Our interior design services ranges from space planning to furniture and equipment purchasing.

Behar Font also offers in house C.A.D.D. and Revit capabilities with communication between any current
applica-tion, fast track drafting automatic coordination, full 3-D capabilities with facilities management, furniture
stan-dards, stack and blocking analysis and expansion forecasting.

Behar Font presently has a staff of thirty-two (32) employees, which consist of the following:

5 Registered Architects
17 Project Architects
3 Interior Design
4 Construction Administration
3 Administrative

Behar Font is currently registered in the following states: Alabama, Arizona, Arkansas, Colorado, Delaware,
District of Columbia, Florida, Georgia, Illinois, Louisiana, Maine, Maryland, Massachusetts, Michigan, New Jersey,
North Carolina, Ohio, Pennsylvania, Rhode Island, Tennessee, Texas and Virginia.

Behar Font is committed to the successful completion of projects, which meet their clients’ functional and bud-
getary requirements and the highest design standards. Each project proceeds through a series of scheduled
reviews to effect complete cost control and adherence to technical requirements. Behar Font is pleased to offer
a professional organization dedicated to the provision of architectural/interior design services with responsible
management, in-depth involvement of its principals and innovative design capability.

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BEHAR FONT & PARTNERS REPRESENTATIVE PROJECTS

OKAN TOWER

Location:
555 North Miami Avenue
Miami, Florida

Owner:
Miami 6th Street, LLC.

Status:
Permitting

Brief Description:
The project consists of a 76 story tower with 362 residential condominium units, 300 room full-service hotel with
extensive amenities and 90,000 sq.ft. of office space.

Services:
Complete architectural and engineering services including programming, master planning, architectural services,
contract documents, construction administration and securing local permits and approvals.

GABLES PONCE

Location:
4585 & 4535 Ponce de Leon Boulevard
Coral Gables, Florida

Owner:
LG Coral Gables, LLC.

Status:
Completed 2013 & 2014

Brief Description:
The project consists of 367 luxury rental units combined with approximately 26,000 square feet of ground level
retail, approximately 25,000 square feet of office space and a parking structure to accommodate approximately
898 parking spaces completely surrounded by pedestrian arcades.

Services:
Complete architectural and engineering services including programming, master planning, architectural services,
contract documents, construction administration and securing local permits and approvals.

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Witkins Hult - Landscape Architecture

Company Overview
Witkin Hults Design Group has established itself as a leading planning and landscape architectural firm with an
award-winning project portfolio and a diversified client base.  Founded in 1988, the firm is widely recognized for
its abilities to deal with a variety of complex landscape architectural projects both domestically and internation-
ally. Its experience spans the south eastern United States, the Caribbean basin, and Brazil.
The firm has the resources to manage every planning and design challenge for its clients. The WHDG staff con-
sists of landscape architects with backgrounds in architecture and interior design as well as support personnel.
The firm has earned a reputation for innovative, high-quality work. Clients have found that its ability to
capitalize on the design opportunities inherent in a specific site helps to position their properties at the top of
their cate-gories.

Every WHDG project is executed with thorough professionalism, personal attention, and expert knowledge.
Suc-cess depends on comprehensive planning, creative solutions, management accountability, budget control,
and attention to each and every detail. In addition, the firm’s expertise in the particulars of climate,
environmental issues, plant materials, lighting and hardscape designs brings measurable value to our projects.
The staff believes in providing unparalleled professional service and is guided by honesty and respect for the
members of the team and a desire to fulfill the stated mission. 

Resort Lifestyle Design


In 1988, the firm’s assignments were single family and mid rise residential communities, as well as commercial
projects. The next year, however it was retained to design exteriors for The Great House, sited on famed 7 mile
Beach in Grand Cayman. A series of resort commissions followed including projects in locations such as Turks &
Caicos, Grenada, St. Thomas, Cancun and Paradise Island for such clients as Ritz Carlton, Wyndham Resorts and
Sandals Resorts International.

Today Witkin Hults Design Group has completed projects for various clients on more than a dozen Caribbean
Islands. Closer to home we are pleased to have provided landscape architectural services for the W Hotel in
Fort Lauderdale for the DYL Group, Little Palm Island for Noble House Hotels, The Shelborne for Crescent
Heights and numerous others. These projects demonstrate the firm’s commitment to produce fully- integrated
exterior environments, its understanding of the resort lifestyle concept, and its ability to deliver quality, multi-
discipline services on time and within budget.

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Kimley Horn - Civil Engineering

Alberto P. Herrera, P.E., LEED AP


Civil Engineer, Kimley Horn

Professional Credentials
Master of Science, Civil Engineering, University of Miami, 2000
• Bachelor of Science, Civil Engineering, University of Miami, 1997
• Professional Engineer in Florida
• LEED Accredited Professional
• U.S. Green Building Council

Special Qualifications
• More than 15 years of experience in civil engineering, including land and site development, water and
sewer collection and transmission systems, storm drainage systems, water management, pump sta-
tions, quantity estimates, civil and environmental permitting, and construction administration.
• Extensive experience with the entitlements, regulatory agencies, and permitting processes in South
Florida.

RELEVANT EXPERIENCE

Mixed-Use Development, Miami-Dade County, FL — Project manager responsible for several mixed-use
developments of varying size within Miami-Dade County and City of Miami. Three projects of note include
District 36, Midtown 29, and Wynwood Apartments all being designed in partnership with Stantec and/or
Adler Development. These projects are all urban redevelopment projects with varying levels of traffic impacts
and proposed mitigation, offsite roadway and utility improvements.

Regatta Park, Miami, FL — Serving as project engineer on the Kimley-Horn team providing landscape
architecture and civil engineering services from concept through construction administration for Regatta
Park in the City of Miami. Regatta Park is a new 15-acre waterfront passive park that will transform the
underutilized waterfront into a more cohesive and vibrant public space to help connect the general public
to the waterfront. The main features of the park include the Expo Lawn, Regatta Lawn, Tropical Gardens,
Pedestrian Promenade, Multi-use Path Connector, Tree Alee Pedestrian Connector, and Children’s Play Area
and Parking Area.

South Miami Intermodal Transportation Plan (ITP), South Miami, FL — Project engineer on the
Kimley-Horn team that prepared the South Miami Intermodal Transportation Plan (SMITP). The City of South
Miami desires to enhance the existing transportation system and mobility choices available to residents,
workers, and visitors to the City. An integral component of this effort is to establish and implement the
SMITP, which identifies an interconnected network of mobility and safety improvements based on smart
growth and complete streets principles. The goal of the SMITP is to identify and prioritize pedestrian and
bicycle projects throughout the City, as well as to enhance access to public transportation. Some of the
improvements included in the Plan are bike paths, neighborhood greenways, sidewalks, crosswalks, onstreet
bike lanes, buffered bike lanes, enhanced shade landscaping and tree canopies, traffic calming to help make
streets safer, and improving the timing for pedestrian crosswalk signals. Kimley-Horn prepared detailed recom-
mendations for pedestrian facilities, bicycle facilities, intersection design, and sustainability. We developed an
implementation plan that respects the limits of affordability and provides a strategy that the City could poten-
tially follow to maximize the user benefit while keeping costs within reason of available funding sources.
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Various Retail Development Projects, Miami-Dade County, FL — Responsible for design, permitting,
and construction administration for large-scale retail developments (250,000 sf to 400,000 sf) within Miami-
Adler 13th Floor Douglas Station, LP 189 Dade County, including the City of Homestead, City of Miami, and City
of Doral. Responsibilities also included coordination, preparation, and permitting of site plans, and the platting
and replatting of the land slated for use by the developers.

Various Residential Development Projects, Miami-Dade, Broward, and Palm Beach Counties, FL —
Project manager for several residential subdivisions ranging in size from one acre to several thousand acres in
Miami-Dade, Broward, and Palm Beach Counties. Responsibilities included the coordination of the design for
roadways, stormwater management systems, water distribution, and sewage collection/transmission systems
and pump stations. Additional responsibilities included the coordination of the various consultants, site planning,
platting, right-of-way dedication and acquisitions as required, quality control of submittals,
regulatory processing of all permits and applications, and construction administration.

Community Development Districts, Various, FL — Served as the District Engineer for several Community Devel-
opment Districts (CDD), including Homestead 50 CDD in Homestead, Copper Oaks CDD in Lee County, Main-
street CDD in Ft. Myers, and Vizcaya CDD in Miramar.

Miami-Dade Transit Park-and-Ride Facility, Miami, FL — Project manager. Responsibilities included preparation
and processing of site plan and final design and permitting of the park-and-ride facility.

36-inch DIP Force main Extension, Miami-Dade County, FL — Project manager. Responsibilities included the
analysis and design of approximately 19,000-linear feet of 36-inch DIP sewage force main in West Miami Dade
County. This included the design of a new sub-aqueous crossing of the SFWMD C1-W Canal, the jack and bore
crossing of the CSX Railroad right of way, and connections within the FDOT right of way.

Homestead Air Force Base Water Transmission and Distribution System, Homestead, FL — Project engineer for
the design of a new water transmission and distribution system at Homestead Air Force Base, which included
hydraulic analysis modeling of approximately 24,000 linear feet of 24-, 16-, and 12-inch watermains.

Pump Station Improvement Projects (PSIPs), Miami-Dade County, FL — Participated in the review of several
Pump Station Improvement Projects (PSIPs). Responsibilities included review of contract documents, construc-
tion phase documents, record drawings, and field reports.

NPDES Stormwater Sampling Program, Miami, FL — Project manager for NPDES stormwater sampling program
for the Port of Miami and the Miami International Airport stormwater monitoring and sampling program. Re-
sponsibilities included coordination of fieldwork and the preparation of various reports for submittal to the Port
of Miami and Miami-Dade County Aviation Department. Also responsible for processing and obtaining various
NPDES permits for site work.

Tenant Compliance Inspections, Miami-Dade County, FL — Participated in tenant compliance inspections for
Tamiami Airport in Miami-Dade County, Florida. Identified the existing tenants, type of activity being performed,
assessed the possibility of adversely affecting the existing stormwater management system, and identified Best
Management Practices (BMP) within the airport.

Recycled Soils Storage Facility, Miami-Dade County, FL — Project manager responsible for the preparation of
an operations plan for a recycled soils storage facility in Miami-Dade County. Responsibilities included the coor-
dination for analysis of soil sampling data and the development of the sampling plan methodology used in the
operations plan. Also responsible for the development of the corrective action plan and monitoring only plan for
the facility.
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Civic Construction - General Contractor

During the past 2 decades, we have been primarily involved in serving the private development and institutional
sectors, constructing various high-rise, mid-rise, multi-family developments and hospitality hotel projects, as
well as town-homes, custom luxury residences, restaurants and office buildings. In addition, to many
commercial, educational and retail projects throughout the states of Florida and New York.

Having been personally involved and successfully completed more than a billion dollars of projects, our diverse
background and acquired experience offers our clients the technical and professional skills required to
successfully target, manage and execute the daily challenges of the construction industry. Our experience,
familiarity and knowledge of the industries building systems, provides you the valuable resources, cost
effectiveness and practical solutions to your project.

Established professional and personal relationships with our clients, has enabled our work to flow smoothly and
our firm to succeed and prosper. The quality of our work, pricing and personal attention dedicated to each of
our clients, speaks for itself. All of our work comes through referrals and repetitive business from our past and
present clients combined with our leadership and strong management, the quality and successful completion of
every single one of our projects and most important, the integrity of our word, has been and remains the
formula for our rapid and continued growth through their repeated business ventures, their trust and
friendships.

True Turn-key

Civic Construction gives full service assistance to its owners throughout various stages of any development. Our
team of in-house professional staff along with our consultants provide a full service true turn-key operation for
any development type, during and through the site selection, planning, legal and zoning entitlements, design,
design development, marketing, financing, permitting, construction, sales and stabilization.

Co – Developers

Civic Constructions vast experience in the industry has allowed us the opportunity to participate and partner up
on many of our projects as part of the development and ownership team. Civic Construction always welcomes
the opportunities of evaluating and becoming an integral part of any development by teaming up and co-
developing with the ownership.

Pre-construction

Civic Construction strives to assist and guide our clients in making the proper decisions during the initial stages
of the project. This type of early involvement is critical to the efficient and successful completion of the project.
Civic Construction establishes and maintains open communication with the client, the design team and its
subcontractors.

Construction Manager

Civic Constructions philosophy in construction management is very simple hands on approach. Communicate
with the project team, address issues immediately and dont sacrifice the quality, design or integrity of the
project. Civic Construction believes that acting as a partner of the client and always protecting the interest of
the client, will result in a straightforward approach and solutions to any issues that may arise, no matter how
complex.

General Contracting

Civic Construction is the ultimate responsible party for all our jobs, through our hands on approach, strict
coordination, amicable no nonsense relationships with all of our subcontractors. Civic Construction guarantees
the quality and on time delivery or our project on time and budget.

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Civic Construction - General Contractor


REPRESENTATIVE PROJECTS

Project:
Motion @ Dadeland - 294 Residential Units

Location: Dadeland Market South Miami

Status:
Under Construction (Topped Off)

Project:
Brickell 10 - 155 Residential Units

Location:
Brickell Market

Status:
Delivered

Project:
2500 Biscayne - 156 Residential Units

Location:
Edgewater

Status:
Delivered

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Greystar - Property Manager

Founded in 1993, Greystar provides world-class service in the multifamily real estate business. Our innovative
business model integrates the management, development and investment disciplines of the multifamily industry.
Because our business model includes both investment and service-oriented businesses, we’re able to maintain a
constant presence in local markets and create value in all phases of the real estate cycle. Our national platform
provides economies of scale, financial sophistication, institutional quality reporting and tremendous capital rela-
tionships, while our regional offices provide local market expertise and execution. 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.

Experienced Team
At the core of Greystar is a team of highly experienced national and regional leaders, with cross-disciplinary
expertise including management, development, investment, construction, finance, and LEED® certification. That
expertise, combined with Greystar’s national footprint, allows us to discern changes in market and sub-market
fundamentals well in advance of the competition.

National Platform
Greystar has a presence in over 140 markets, 40 states, and manages over 400,000 units nationwide. Greystar’s
11,000+ team members support client needs by tailoring solutions with the goal of maximizing asset value.
Greystar leverages local market knowledge and expertise to provide solutions for all facets of the multifamily
sector. These solutions encompass an impressive array of multifamily services from management to investment
to development.

Our dedication to redefining excellence in apartment living means we’re constantly exploring innovative ideas
and pioneering new ways to serve our residents and clients

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Greenberg Taurig Legal Representation

Company Overview
GT’s Global Real Estate Practice is a cornerstone of the firm and recognized leader in the industry. Our
attorneys deliver diversified and comprehensive legal solutions for property acquisition and investment,
development, management and leasing, financing, restructuring, and disposition of all asset classes of real
estate. The team draws upon the knowledge and experience of more than 300 real estate lawyers from around
the world, serving clients from key markets in the United States, Europe, the Middle East, and Latin America.

Our clientele includes a broad range of property developers, lenders, investment managers, private equity
funds, REITs, and private owners. We advise clients on a variety of matters across a broad spectrum of
commercial, recreational and residential real estate, including structured equity and debt and the hybrids.
Additionally, our practice offers industry group expertise specific to real estate, including retail and hospitality.

The multidisciplinary capabilities of our Real Estate Practice and firm’s global platform enable us to provide
value-added service to clients around the world. Our team has received numerous awards honoring outstanding
legal service, distinction in real estate practice areas and achievements, excellence in client service, and
contributions to the legal profession. Recognition received by our team includes:

• 2018, 2015 Law Firm of the Year – Real Estate Law, U.S. News – Best Lawyers

• 2017 - 2007 Shortlisted, Award for Excellence in Real Estate, Chambers & Partners

• 2017, 2013 and 2010 Award for Excellence in Real Estate, Chambers & Partners

• 2017, 2013 Hospitality Practice Group of the Year, Law360

• 2017, 2016, 2015, 2014 and 2013 Listed as "Top-Tier" in Real Estate, The Legal 500 United States

• 2017, Law Firm of the Year in Poland, Chambers Europe

• 2017 Law Firm of the Year in Real Estate and Real Estate and Construction Germany, JUVE Magazine

• 2016, Law Firm of the Year for Client Service in Poland, Chambers Europe

• 2016, Top Real Estate Law Firm, Commercial Property Executive (CPE)

Land development is normally regulated at the local level. Greenberg Traurig has multiple offices in Florida,
California, New York and across the United States that contain a broad network of attorneys and land
development specialists with a vast expanse of resources focused on local approval issues. This versatility
allows our land development group to represent local, national and international clients in virtually every aspect
of land development law.

Greenberg Traurig development attorneys are involved in projects from beginning to and, including the
issuance of building permits and certificates of occupancy. Aspects of our representation include due diligence
investigations, zoning applications, including re-zonings, special permits, variances, and designations and
alterations of landmarked buildings, public and private financing, land use appraisals and entitlements and
construction financing and permitting, and air rights transactions. Our projects include the development of new
communities large-scale suburban residential developments high-rise/urban office, condominium and mixed-
use developments retail shopping center hotel, resort and golf course projects entertainment venues mass
transit facilities rock mining activities marina permitting and brownfields redevelopment.
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MTCI - Private Provider

In 1996, Michael T. Causley founded M.T. Causley, Inc., a building and government department service firm in
Homestead, Florida. In response to the Alternative Plan Review and Inspection Program, Mr. Causley saw the
need to expand services and established MTCI Private Provider Services, LLC. Since its inception, MTCI has as-
sisted developers, contractors and property owners with expedited, affidavit plans review and inspection ser-
vices.

Unlike other consulting engineering firms, at MTCI we possess plans review and inspection experience at a mu-
nicipal building department level. MTCI offers a wide range of services including threshold, building, mechanical,
electrical, and plumbing plans review and inspection services, as well as planning, construction plans peer re-
view, and permit expediting services. Additionally, MTCI has the ability to provide its customers a unique service:
electronic or remote plan review. This service allows us to share and review plans utilizing secured FTP sites or
web-based portal improving the plan review cycle, reducing costs associated with printing plans and supports
green initiatives.

Our staff has experience with new construction, phased renovations, remodeling and additions of structures
such as high rises, large cement plants, college facilities, commercial office buildings, mixed- use and
category-5 utility plants, above- and below-grade parking garages, automated parking lifts as well as residential
develop-ments.

Our goal is to exceed the expectations of every client by offering outstanding customer service, increased
flexibility, and greater value. MTCI is available 24-hours a day, 7-days a week. Our team is distinguished by their
professional expertise combined with their hands-on experience, thereby ensuring that our clients receive the
most effective and professional service.

MTCI’s successful history in Florida is continuing with new developments and expanding services to other
states. Today, MTCI is occupying a leading rank in consulting engineering services for many in both the public
and pri-vate sector.

In the City of Miami, we have successfully completed more than 150 projects ranging from high rises, commer-
cial, mixed-use, retail, hotels and residential projects.

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Gadinsky (Retail Brokerage)

Company Overview
Gadinsky Real Estate (“GRE”) prides itself on being a full-service real estate company, specializing in retail devel-
opment and tenant representation. Our 30 years of single tenant development experience combined with our lo-
cal market knowledge uniquely qualifies us to be your one-stop source to roll out a new store plan or reposition
stores in current markets. We have been retained by national and local retailer to identify and secure locations
throughout South Florida.

As a firm, we are always focused on meeting the client’s needs, always balancing price vs timing of occupancy.
Our expertise includes:

Site Selection
GRE will customize a growth strategy based on any number of factors, such as market research, demographic
profile, occupancy costs tolerance and physical site attributes. We will conduct site tours to provide the client
the opportunity to touch and feel perspective locations and provide the collateral materials necessary for the
client to evaluate such locations.

Site Acquisition And Disposition


Whether acquiring sites on a free simple or long-term lease basis, leasing second-generation space, or looking
to dispose assets GRE has the requisite skills to assist in creating a negotiating deal structures which meet each
client’s needs.

Deal Structuring
GRE can structure each deal to meet the client specific needs, whether facilitating land acquisition transactions
for self-development, fee developing sites for the client based on specific design/build criteria or delivering turn-
key build to suits utilizing our own capital resources.

Site Inspections
GRE works with clients and their consultants to ensure customary due diligence inspections are completed for
each prospective site, such as soil test, environmental site assessment, title inspections and surveys, etc.

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Blanca Commercial Real Estate (Office Brokerage)

WHO WE ARE
We are Florida's leading independently owned commercial real estate services firm, known for customizing
solutions that drive success for our clients while giving back generously to the community and industry we
serve.

OUR VISION
To deliver outstanding results for our clients by leveraging our superior market intelligence, data-driven
research, carefully customized strategies, and excellence in service.

WHAT MAKES US DIFFERENT


Our differentiators –including our client-first approach and our passion –have attributed to our phenomenal
growth and continued success on behalf of our clients.

TRUSTED PARTNERS
We forge lasting partnerships with our clients and deliver distinct value through our extensive expertise,
data-driven insight, proven methodology, vast network and deep community connections which help
realize their success.

ENTREPRENEURIAL SPIRIT
Born of an entrepreneurial, against-all-odds spirit, we choose to stay nimble and true to our core values.

WHAT WE DO

▪ Tenant Representation

▪ Landlord Representation

▪ Property Acquisition and Disposition

▪ Property Management

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The Spinnaker Group - Environmental Consulting

Mission Statement
To provide best in class sustainable green building design consulting services to Corporations, Private Compa-
nies, Government entities client throughout the world.

Company Profile
The Spinnaker Group Management is a Professional Services organization founded and operated by experienced
professionals in the Sustainable and LEED Consulting and Certification, Building Commissioning, Engineering
and Energy Management. The Spinnaker Group was incorporated in the State of Florida in 2003, celebrating
over 10 years in business, and is a certified DBE & WBE. The Spinnaker Group is a Certified Engineering Firm by
the Florida Board of Professional Engineers.

The Spinnaker Group is providing sustainable design, certification, commissioning and consulting services to a
broad range of projects including retail, mixed use, commercial office, university buildings, government facilities,
schools and high rise residential. TSG just certified its 78th LEED project and is currently working on over 200
projects that are all pursuing LEED Certification.

The Spinnaker Group provides the following services:

• LEED Certification & Sustainable Design Consulting


• Design Charrette Facilitation
• Building Commissioning
• Green Material Sourcing
• Integrated Design Process Management
• Energy & Daylight Modeling
• Life Cycle Cost Analysis
• Green Marketing & Training

The Spinnaker Group has extensive knowledge and experience in the application of the LEED Rating Systems.
TSG can assist you in maximizing your credits in the areas of Sustainable Sites, Water Efficiency, Energy and
Atmosphere, Materials and Resources, Indoor Environmental Quality and Innovation and Design.

By using Integrated Design practices, The Spinnaker Group strives to help you achieve your Green Building goals
with little or no cost increase over standard construction. LEED certified buildings typically:

• Improve Productivity
• Lower Energy Costs
• Increase lease rates and leasing velocity
• Increase in market value

Relevant Experience
Miami Design District: TSG provided LEED Consulting, Building Commissioning and Energy Modeling for this
50,000 square feet, $15.5 million dollar multi-purpose center in Broward County which achieved LEED Silver
Certification.

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West Palm Beach Convention Center Hotel: The Spinnaker Group is providing LEED Consulting, Energy Model-
ing & Building Commissioning for this 300,000 square feet, 400 key hotel, plus 2-stor parking garage with 400
spaces.

Grove at Grand Bay Condominiums: The Spinnaker Group is providing LEED Consulting, Building Commission-
ing and Energy Modeling for this 500,000 square foot, $100 million dollar luxury condominium which is pursuing
LEED Gold Certification, designed by B.I.G. Architects. New River Landing III: The Spinnaker Group is providing
LEED Consulting and Energy Modeling for this LEED NC Multi-Family High Rise totaling 268,000 square feet
with a budget of $32 million dollars. This project is pursuing LEED Certification.

Sweet Bird Residences: The Spinnaker Group is providing LEED Consulting, Building Commissioning and Energy
Modeling for this 158,000 square foot hotel/residential/mixed use building totaling $53 million dollars.

Sky Rise Miami: The Spinnaker Group is providing LEED Consulting, Building Commissioning and Energy Mod-
eling for this 295,000 square foot entertainment/mixed use/observation tower which will soar over 1,000 feet
high.

Paradise Plaza: The Spinnaker Group is providing LEED Consulting, Building Commissioning and Energy Model-
ing for this 115,000 square foot open shopping center that is pursuing LEED Certification.

Miami World Center Mall: The Spinnaker Group provided LEED Consulting, Building Commissioning and Energy
Modeling for this 765,000 square foot multi-use retail/commercial/entertainment project in the heart of down-
town Miami which is pursuing LEED Silver certification.

MET II: TSG provided Sustainable building consulting services for the construction of a 700,000 sq. ft high rise
Class A Office connected to a 42 Story Marquis, a JW Marriott Hotel with 347 room. In addition, The Spinnaker
Group is provided complete commissioning services.

Marriott Edition: TSG is provided LEED Consulting, Fundamental Commissioning & Energy Modeling for this 78
key, high-end condo/hotel project which was LEED Certified.

City of Coral Springs Sustainable Consulting - Coral Springs, FL: Worked with Planning and Zoning to develop
Sustainable Design Guidelines to be use by architect and builders and the City’s Architectural Review Board. Pro-
vide project review during P&Z application to ensure projects meet the City’s Sustainable Design requirements.

One Plantation Apartments: TSG provided LEED Consulting, Building Commissioning and Energy Modeling for
this twin tower, residential condo building and full-amenity club house, which received LEED Certification.

One Douglas Apartments: The Spinnaker Group is providing LEED Consulting, Building Commissioning and En-
ergy Modeling for this 212,000 square foot multi-family apartment building which is pursuing LEED Certification.

Grove at Grand Bay Condominiums: The Spinnaker Group is providing LEED Consulting, Building Commission-
ing and Energy Modeling for this 500,000 square foot, $100 million dollar luxury condominium which is pursuing
LEED Gold Certification, designed by B.I.G. Architects.

Garden Lounge Building: The Spinnaker Group provided LEED Consulting, Building Commissioning and Energy
Modeling for this LEED Gold Certified, 10,000 square foot, $2.5 million dollar project in the Miami Design District.
The Design District is the first LEED for Neighborhood Development project in the City of Miami.

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Palm Court: TSG provided LEED Consulting, Fundamental & Enhanced Commissioning & Energy Modeling for
this 2 & 3 story, 162,000 square feet of luxury retail space located in the Miami Design District, which is also a
TSG LEED for Neighborhood Development project and is LEED Certified Gold.

West Palm Beach Convention Center Hotel: The Spinnaker Group is providing LEED Consulting, Energy Model-
ing & Building Commissioning for this 300,000 square feet, 400 key hotel, plus 2-story parking garage with 400
spaces.

Aventura Optima Plaza: The Spinnaker Group provided LEED Consulting, Building Commissioning and Energy
Modeling for this 125,940 square foot Class A Office and Medical Office Building which was certified LEED Plati-
num.

Sweet Bird Residences: The Spinnaker Group is providing LEED Consulting, Building Commissioning and
Energy Modeling for this 158,000 square foot hotel/residential/mixed use building totaling $53 million
dollars.The Spin-naker Group

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Culture 44 - Marketing and Public Relations

Mission Statement

Culture 44’s mission is to push culture forward for black and brown communities and millennials in a bold and
unapologetic way by positioning resources, creating stronger communication channels and crafting authentic
cultural narratives for underserved and untapped communities.

Our goal

- Use marketing and technology as a tool to improve, empower and provide sustainable solutions to
multicultural and millennial communities through the use of integrated marketing communications strategy,
creative content, community outreach and events.

- In 2018 we launched a 100 Cities campaign focused on empowering communities by identifying corporate
partners for community sponsorships, affordable housing solutions, culture and entertainment event creation
and inclusivity for community venues and green spaces, small business growth and job creation.

Community Outreach Strategy:

Develop public forums targeted to specific demographics (i.e. residents, non-profits, small business) in
partnership with community thought/industry leaders, media personalities, and local Overtown based
organizations.

- Develop non-profit think tank events

- Canvass residential and business locations to drive community awareness

- Identify existing growth opportunities with Overtown based organizations

- Develop authentic Overtown brand stories to drive non-profit and small business growth in partnership with
the Overtown Urban Film Festival, 1st Take Youth Program, Florida Film House, and Elijah Wells Films.

- Develop affordable housing outreach and partnerships with millennial organizations and low-income service
program. Long term goal-- create affordable housing digital directory and seminar/events platform

- Establish a SBE/ MWBE /Entrepreneurship Overtown Accelerator for leasing and small business growth in
partnership with Overtown Business Resource Center, Space Called Tribe, and Venture Café.

- Identify cultural tourism and entertainment support/ opportunities with Overtown Performing Arts Center,
Lyric Theatre, Urban Contemporary Experience, Viacom, Adrian Arsht Center and Greater Miami Convention and
Visitors Bureau.

- Launch Media Tour with South Florida print, digital, T.V., and radio outlets.

- Identify/Organize a community benefit agreement alliance with local residents and biz owners

- Curate Chef In The City events to boost small business growth and create pop-up restaurant/vendor events to
increase utilization of local green spaces.

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Subcontractor Addresses

- Architect – Behar Font & Partners


• 4533 Ponce De Leon Blvd, Coral Gables, FL 33146

- Non-Profit Partner – Overtown Youth Center


• 450 NW 14th Street, Miami, FL 33136 United States

- Community Outreach – Culture 44


• 1490 NW 3rd Ave, Suite 106, Miami, Florida 33136

- Private Provider – MTCI


• 97 NE 15th St, Homestead, FL 33030

- Civil Engineer – Kimley Horn


• 355 Alhambra Cir Suite 1400, Coral Gables, FL 33134

- General Contractor – Civic Construction


• 2502 Biscayne Blvd, Miami, FL 33137

- Property Management – Greystar


• 101 NE Third Avenue, Suite 1810, Fort Lauderdale, FL 33301

- Landscape Architect – Witkins Hults


• 307 S 21st Ave, Hollywood, FL 33020

- Retail Leasing and Consulting – Gadinsky Real Estate


• 1680 Michigan Ave # 1001, Miami Beach, FL 33139

- Office Leasing – Blanca Commercial Real Estate


• 1450 Brickell Ave #2060, Miami, FL 33131

- Environmental/Sustainability Consulting – The Spinnaker Group


• 5768 Okeechobee Blvd, West Palm Beach, FL 33417

- Land Use and Ground Lease Attorney – Greenberg Taurig


• 1221 Brickell Ave, Miami Fl, 33131

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Project Financial
Information
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Financial Summary

The following summarizes the Hub at Overtown’s Block 45 proposal:


i) $2.5MM upfront to be spent on Station Improvements,
ii) $10,000 per month of guaranteed rent (growing at 2% annually),
iii) Participation rent of 2% of Gross Revenue (excluding revenue from the affordable units).

The above three components represent a total rent to Miami-Dade County of $100 million over the life of the
lease; a net present value (“NPV”) of $18 million.

Moreover, if 9% Tax Credits are awarded to the Project for its affordable housing units, then the Project would
share (i.e. participation rent) with Miami-Dade County an additional 3.5% of the affordable housing units’ gross
revenue. This additional 3.5% represents an additional $45,000 of annual income to the County – $1.6MM NPV.

Accordingly, including all components of the Project, the total NPV to Miami-Dade County is +/- $20 million.

In addition to the above, the Project will contribute 0.25% of the Projects’ Gross Revenue (excluding revenue
from the affordable units), to support the local community development program (see Section 5 of this
Proposal).

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30 Year Proforma - The Hub (Excludes Affordable)
Yrs 1-15

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Yrs 15-30

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Project Financial Overview

*Excludes Affordable Tower

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Financing Assumptions

*Excludes Affordable Tower

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Project Summary

*Excludes Affordable Tower

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Operating Summary

*Excludes Affordable Tower


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30 Year Operating Proforma - Yrs 1-15

*Excludes Affordable Tower


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30 Year Operating Proforma - Yrs 15-30

*Excludes Affordable Tower


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Capital Stack

*Excludes Affordable Tower


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Hard Costs Budget

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Hard Costs Budget

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Hard Costs Budget

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Affordable Housing Component

Financing Scenarios

There will be a 127-unit affordable housing community included as part of the redevelopment of Block 45.

The sitework and parking podium are being developed by the market rate component of the development, and
therefore the cost of construction for the affordable housing phase is the cost to build the apartments without
the cost of sitework and parking. This makes for a cost-efficient, creative manner to build affordable housing.

There are two financing scenarios included herein:

Tax-exempt bond Financing/4% tax credits

Cornerstone has developed 15,000+ affordable housing units over the past 20+ years, of which almost 90% were
financed using tax-exempt bond financing, which are accompanied by 4% tax credits.

Cornerstone has been successful developing these projects based on its ability to obtain subordinate debt
financing on the local, state and federal levels. Locally, it has obtained $100+ million of subordinate debt and at
the state level, $150+ million, as can be seen in the developer experience chart enclosed herein.

Cornerstone was also a pioneer in using Federal Home Loan Bank funds, several years ago obtaining at the time
the largest award ($1 million) for a local affordable housing community, Villa Capri. That project obtained a total
of $15+ million of subsidy, including local, FHLB, as well as NSP (Neighborhood Stabilization Program) funds.
That project is typical of the properties Cornerstone develops, in reaching out and obtaining competitively
funded subordinate debt.

Given the above, the tax-exempt bond financing scenario included in this application assumes similar financing:

First Mortgage: JP Morgan Chase


2nd Mortgage: Florida Housing Finance Corporation (“FHFC”)
3rd Mortgage: Miami-Dade County
Tax Credit Equity, Limited Partner Raymond James
Commitment letters from the first mortgage lender and the tax credit equity partner are enclosed herein.
Applications to the FHFC and to Miami-Dade County would not be submitted until the project obtains site
control in the form of an executed ground lease with the County on the Subject Property.

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Tax Exempt Bond Finance / 4% Tax Credit Scenario

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Affordable Housing Component

Financing Scenarios

9% Tax Credits

For this project, as it has the benefit of having the sitework and parking being provided via the construction of
the market rate units, it is anticipated it will not require subordinate debt, but rather just the award of the 9% tax
credits.

There are two opportunities to apply for 9% tax credits:

1. Annual FHFC 9% tax credit cycle


2. Annual FHFC 9% revitalization cycle
The revitalization cycle is for projects that are not merely building affordable housing, but that also include other
key components that can revitalize the surrounding area. This project is unique in that it can do same, by
providing affordable housing, market rate housing, workforce housing, as well as retail, office and other
commercial space.

The 9% tax credit scenario additionally would pay an annual 3.5% participation revenue to the County.

The 9% tax credit scenario has commitment letters from:

First Mortgage: JP Morgan Chase


Tax Credit Equity, Limited Partner: Raymond James

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9% Tax Credit Scenario

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Other Financial Benefits


Summary
Estimated Ad Valorem Taxes
Once The Hub @ Overtown is fully completed and
stabilized, The Hub Block 45 LLC estimates it will
have an assessed value of approximately
$83,000,000+. This will generate an estimated
$1,820,255 in Annual Ad Valorem Tax Revenue.
Based on current trim notices the tax revenue will
be divided as follows: $412,905 to Miami-Dade
County, $595,309 to Miami-Dade Public Schools,
$637,718 to the City of Miami, and $174,323 to
others. The details are in the table to the right.

Estimated Permit Fees


The Hub @ Overtown Overtown Central shall
contribute a significant amount of money through
permit fees to Miami-Dade County. Using rates as
of 3/15/2018 it is estimated that The Hub shall pay
Permit Fees totaling $1,150,000.

Estimated Impact Fees


The Hub @ Overtown shall contribute a significant
amount of money through impact fees to various
City of Miami and Miami-Dade County. Using rates
as of 3/15/2018, it is estimated that The Hub shall
pay Impact Fees totaling $6,934,856. This amount
is allocated as follows: $4,362,964 for Roads,
$274,260 for Fire, $351,126 for Police, $368,424
for Schools, $919,423 for Parks, and $658,659 for
Water & Sewer Connection. The details are in the
table below:

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Identify any returns accruing to a non-profit with a record of
contributing to the improvement of the Overtown community.

The Hub @ Overtown team believes that the key to a successful project starts with community. It is not
enough to put up a nice building – much more is needed. It starts with supporting job training initiatives and
continues with offering favorable pricing and access to those business and local area residents who want to be
a part of and/or live in our Project. It also means supporting, on multiple fronts, local non-profit organizations
that have a record of contributing to the improvement of the community. That is why we are building a
community space (+/- 3,800 square feet) that can be used by local non-profit organizations, as well as our
Project’s residents, to host events, seminars, job training sessions, and the like. It is also why we are including
in our proposal an annual contribution to local non-profit organizations who help the Overtown community. In
other words, taking money from our top line to help their bottom lines.

To that end, as part of our proposal, in addition to all else we plan to do to help the local Overtown
community, its residents, business and organizations, we are also setting aside 0.25% of annual gross revenues
(+/- $35,000 as detailed in the financial section of this Proposal) to donate to local non-profits that have a
record of contributing to the improvement of the Overtown community. Non-profits such as, Overtown Youth
Center, Overtown Youth Coalition, Urgent Inc. and other similar local organizations, who we trust will use our
contributions to help make the Overtown community better each and every day.

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12
Proposers
Financial Strength
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Proposers Financial Strength and Ability to Develop


the Project
The Hub Block 45 is a joint Venture between 13th Floor Investment and the Adler Group. As a joint venture, the
sponsorship team is extremely committed to the development of this project. Both economically and from a
community standpoint. We envision the development of The Hub @ Overtown as yet another example of
successful public private partnerships. Both 13th Floor and Adler are highly successful and competent local de-
velopment companies that have a breast of experience in high-rise development, transit-oriented
developments, mixed use projects and traditional multifamily spanning millions of square feet. To ensure
success, this development must embody a true partnership between our private business and the public that
will be served.

13th Floor and Adler Group have completed a combined 140 separate real estate investments. Both 13th Floor
Investments and the Adler groups currently have extensive real estate portfolios of over $1 Billion (each) in
assets under management.

Each investment is organized as a separate legal structure, with its own single purpose entity. This is a require-
ment made of us by our investors and lenders. Our operating businesses take full responsibility for and manage-
ment of each separate investment entity.

The Proposers, have capitalized The Hub Block 45, LLC with $500,000.00 (50% part-nership between 13th
Floor and the Adler Group). Through our relationships with a variety of funding sources the Sponsors are fully
committed to providing the necessary capital to complete each phase of the project. For evidence of financing
and financial capacity, please refer to the financial reference letters provided.

To provide additional security, the sponsors shall execute and deliver to the County, or cause to have executed
and delivered, prior to commencement of construction, a Payment and Performance Bond in the amount of the
total cost of construction, prepared on applicable County form(s).

Both 13th Floor and the Adler Group have directed the development of millions of square feet of residential,
commercial, and retail projects throughout Florida. We are also currently working jointly with the City of Miami
and Miami-Dade County on projects including Motion at Dadeland, Link at Douglas Station, and Nexus Riverside.
To demonstrate our financial strength and ability to develop Link at Douglas, we have included a set of letters
from banking institutions and equity partners. They exhibit Adler 13th’s excellent performance and repayment
histories, significant depository relations, substantial borrowing history, and future lending opportunities.

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Proposers Approach to Finance


The Sponsors have a long history and track record of financing large scale development projects. The
Affordable Financing will be lead by Cornerstone. The larger component of the project will be lead by 13
Adler. 13 Adler believe that each real estate venture requires a unique financing plan. 13th Floor operates a
discretionary private equity fund. Since 2010, 13FI has deployed in excess of $402 MM of equity into its
programs and has returned over $428 MM back to its investors. The Adler group on the other hand has a
strategy of raising capital on a deal by deal basis. By means of relationships with a prestigious list of
institutional and private investors, nationally and internationally, both companies have managed to create
extensive real estate portfolios.

While every project is unique from a financing perspective, an example of a typical financing strategy is
Motion at Dadeland. 13th floor and Adler jointly partnered to develop Motion at Dadeland (another TOD
multifamily rental project on county-owned land). In Motion, the capitalization was $88MM and was provided
as follows, 10% Equity from 13 Adler Sponsors, Remaining Equity from Barings (Barings is a $304+ Billion
Global Financial Services firm with ties to MassMutual), and the balance $53MM was provided from a
Construction Loan from TD Bank and Santander.

For the Hub @ Overtown, the team plans to leverage its relationship with Wexford's Flagler Venture (Flager is
a special SPE owned by Wexford's principals to invest in Real Estate). Wexford is an SEC registered
investment advisor with assets under management in excess of $3.4 billion. During the past 18 months Flagler
made private investments in Florida Real Estate in the order of $120 million in Equity. Flagler and 13th Floor
Investments have partnered together on 17 real estate investments in the past which in aggregate total
greater than $175 million of committed equity capital. Flagler has already been briefed on the Hub at
Overtown Opportunity and is looking forward to a lease award recommendation (See letter if intent
attached).

On the Debt side, the Sponsors have already lined up some of their lenders (in particular TD Bank and Key
Bank - See letters attached). These banks have done significant financing for the sponsors in the past and are
eagerly awaiting an award recommendation.

The total capitalization for the Hub @ Overtown will be 65% Debt and 35% Equity. The debt will most
certainly be provided by TD Bank or Key Bank while the Equity will follow a similar model of Motion @
Dadeland (10% Sponsor equity and the balance from a capital partner (in this case Wexford's Flagler
Venture).

The subsequent page has a sampling of the financing used for other projects historically.

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Proposers Approach to Finance the Project

Adler Group and 13th Floor Investments Joint Project

Dadeland: • Total Project Cost: $88MM


• Equity Partners: Adler Development Principals and 13th Floor Investments
contributed $ 3.5MM of equity
• Barings $ 31.5MM of equity
• Debt: TD Bank and Santander for $53MM

13th Floor Investments


400 Sunny Isles: • Total Project Cost: ~$173 MM
• Equity & Debt Partners: 13th Floor Investments, Key International, and
Wexford Capital for a total equity capitalization of $33MM. Debt by
Regions $43MM

1010 Brickell: • Total Project Cost: ~$200MM


• Equity & Debt Partners: 13th Floor Investments, Key International and
Wexford Capital for a total equity capitalization of $23.25MM. Debt
Syndicated across, Regions, Mercantile & CNB $60MM

Sereno: • Total Project Cost: ~$38MM


• Equity & Debt Partners: 13th Floor Investments, Integra Investments, and
Wexford Capital for a current equity of $9.26MM. Debt by City National
Bank of $12MM

Sierra Grande: • Total Project Cost: ~$40MM


• Equity & Debt Partners: No equity partners. Total equity capitalization of
$9.7MM. Debt by BB&T of $23.5MM

Adler Development
Shorecrest Club: • Total Project Cost: $95MM
• Equity Partners: Adler Development Principals and ECI Principals contributed
$18.6MM of equity. Canyon Capital Partners contributed $16MM of equity.
• Debt: Suntrust Bank and Capital I - $60.5MM

• Total Project Cost: $38MM


• Equity Partners: Adler Development Principals contributed $2.5MM of equity. The
Brandon Pavilion:
Atlantic American Opportunities Fund contributed$10.5MM of equity.
• Debt: Key Bank $25MM

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DESCRIBE REGULATORY OR LEGAL CHALLENGES THAT MAY NEGATIVELY IMPACT THE


PROPOSER’S ABILITY TO FINANCE THE PROPOSED DEVELOPMENT

There are no ongoing or potential regulatory or legal challenges impacting the sponsors ability to
finance the proposed development. In addition, there is no ongoing or potential litigation that may impact 13th
Floor Investments or Adler Group’s ability to finance the proposed development.

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Balance Sheet

The Hub Block 45, LLC


Combined Statement of Assets and Liabilities
As of March 23, 2018
Unaudited

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Account Statement

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March 13, 2018

Re: Proof of Funding

This letter does not constitute an offer, agreement, conditional or otherwise, agreement
in principle, agreement to agree, or commitment to make an investment, provide
financing or to pursue any other transaction.

To Whom It May Concern:

On behalf of the 13th Floor Investments family, inclusive of 13th Floor acquisitions, I am
pleased to provide you with the attached summary Statement of Assets and Liabilities for the
13th Floor Investment’s (“13FI”) and its collective funding and ownership vehicles as of the
end of Q4 2017 (the date of the most recent companywide financial statements). Beginning
with the launch of its first Fund in the fall of 2010, 13FI has raised and managed three private
equity Fund vehicles and more than a dozen separately managed venture accounts.

In total, since 2010, 13FI has deployed in excess of $402 MM of equity into its programs and
has returned over $428 MM back to its investors. In addition to its ability to reuse much of the
distributed capital, and in addition to the ongoing liquidity maintained across vehicles, 13FI
has approximately $436 MM of committed, but uncalled, capital as of the date of this letter.
Further illustration of these figures can be found on the following page.

Of additional note, 13FI’s lead investor is an SEC registered investment advisor with over $5
billion of assets under management and their capacity extends well beyond their committed
amount included in the table. Should you have any questions regarding our capitalization,
please do not hesitate to contact me.

I attest the attached is true and correct as of the date thereof.

Best Regards,

Daryl Shevin, CFA


Chief Financial Officer
13th Floor Investments
(786) 220-0460

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Wexford Plaza
411 West Putnam Avenue
Greenwich, CT 06830
www.wexford.com
(203) 862-7000

March 12, 2018

The Office of the City Clerk


City of Miami
3500 Pan American Drive
Miami, Florida 33133

Attention: Basia Pruna, Procurement Contracting Manager


111 NW 1st Street, Suite 1300, Miami, Florida 33128

RE: REQUEST FOR PROPOSALS (RFP) NO. 00700


For DEVELOPMENT OF BLOCK 45 AT 152 NW 8TH. STREET, MIAMI, FL

Dear Basia,

Wexford Capital LP (“Wexford”) is an SEC registered investment advisor with assets under management in
excess of $3.4 billion. Wexford manages a series of affiliated private equity funds and hedge funds and has a
track record of investing in real estate that dates back to 1994. The principals of Wexford also own Flagler
Capital LP (“Flagler”) which is a separate entity created for them to make personal investments, principally in
real estate. During the last 18 months, Flagler managed entities have made an aggregate equity investments in
excess of $180 million in commercial and residential properties throughout the US, of which over $120 million
was invested in properties located in Florida.

Flagler and 13th Floor Investments (“13th Floor”) have partnered together on 17 real estate investments in the
past which in aggregate total greater than $175 million of committed equity capital. Flagler is aware that 13th
Floor is pursuing the acquisiton of the property at “Block 45” in Miami, Florida (the “Property”), and has
reviewed 13th Floor’s plan to acquire and develop the Property. This letter confirms that if (a) 13th Floor is
awarded the right to purchase the Property and (b) Flagler is satisfied, in its sole and asbolute discretion with
the results of its due diligence review, then subject to satisfactory final acquisition and joint venture
documentation, again in Flagler’s sole and absolute discretion, a Flagler managed entity would participate in
the acquisition and development of the Property with 13th Floor and have the financial capacity to fund its
investment in such acquisition without the need for any external financing.

If you have questions, please feel free to contact me (203-862-7033).

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th
March 14 2018

Basia Pruna
Procurement Contracting Manager
111 NW 1st Street, Suite 1300,
Miami, Florida 33128

Dear Ms. Pruna,

This letter is in reference to the Request for Proposals (RFP) NO. 00700 for Development
of Block 45 at 152 NW 8th Street, Miami, FL.

Michael M. Adler and affiliates ("Adler") have a good lending and banking relationship
with TD Bank. Lending has been in excess of thirty million dollars including commercial real
estate development projects.

We confirm and acknowledge that all transactions during our relationship have performed
well with no event of default. We would most certainly entertain further lending opportunities with
Michael M. Adler and affiliates.

We value the relationship and look forward to additional endeavors with Adler.

Very truly yours,


TD Bank, N.A.

By:
______________________________
Nathan Perlmutter
Vice President
305-441-5695
nathan.perlmutter@td.com

CC: The Office of the City Clerk


City of Miami
3500 Pan American Drive
Miami, Florida 33133

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APPENDIX A
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Attachment A - References
Attachment A References
A. Proposer’s Corporate Experience and Past Performance Section 9
Describe the Proposer’s corporate past performance and experience developing, managing and maintaining projects similar to that being proposed.
1. State the number of years that the Proposer has been in existence, the current number of employees, and the primary markets served. The Proposer is defined as the person,
firm, entity, or organization as stated on the Solicitation Submittal Form, submitting a response to this Solicitation. Pg. 113
2. List the owner(s) and the ownership percentage of each. Pg. 113
3. Provide a detailed description of comparable contracts (similar in scope of services to those being proposed), which the Proposer has either ongoing or completed within the
past five years. Where possible, list and describe those projects performed for government clients or similar size private entities (excluding any work performed for the County). Pg. 114 - 124, 127-133

4. List all contracts which the Proposer has performed for Miami-Dade County. The County will review all contracts the Proposer has performed for the County in accordance with
Section 2-8.1(g) of the Miami-Dade County Code, which requires that “a Bidder’s or Proposer’s past performance on County Contracts be considered in the selection of Consultants Pg. 125 - 126
and Contractors for future County Contracts.”

5. Describe Proposer’s experience in obtaining the necessary permits and approvals from local government authorities and familiarity with the Florida Building Code.
Pg. 134
6. Provide any other information demonstrating the Proposer’s ability to complete the development as proposed. Pg. 135

B. Key Personnel and Subcontractors Performing Services Section 10


7. Identify the Proposer’s project manager who will be responsible for the Project (for all activities of work, if applicable), their relevant experience, and contact information
including address, phone number and e-mail address. Pg. 137
8. List the names and addresses of all subcontractors, and describe the extent of work to be performed by each subcontractor. Pg. 165
9. Provide an organization chart showing all key personnel, including their titles, to be assigned to this Project. The chart must clearly identify the Proposer’s employees and those
of any Subcontractors. Identify functions to be performed by each person. Key personnel must include all partners, managers, seniors and other professional staff that will perform Pg. 138
work and/or services for the Project.
10. Describe the experience, qualifications and other vital information, including relevant experience on previous similar projects, of all key personnel, including those of Pg. 139 - 148
subcontractors, who will be assigned to this Project.
11. Provide resumes for all key personnel, including any key personnel of subcontractors. Pg. 139 - 148
Note: After proposal submission, but prior to award of any contract or lease resulting from this Solicitation, the Proposer has a continuing obligation to advise the County of any
changes, intended or otherwise, to the key personnel identified in its proposal.

C. Proposed Approach to the Development Project and Community Development & Marketing Section 4, 5, 7, 8
12. Affirm that Proposer’s will satisfy the following:
a) Inclusion of a residential housing component consisting of market rate housing, affordable housing, or alternatively, a mixture of income eligibility requirements that include a
range of affordability. At a minimum, 40% of the square footage of the project must be devoted to residential units and 25% of that square footage must be used for workforce and Pg. 42
affordable housing.
b) Demolish and dispose of any portion of the existing guardhouse and ticket apparatus on the Site that will not be utilized for the new Project. Pg. 48
c) Comply with the Design Guidelines of Paragraph 2.6 of the RFP. Pg. 55
13. Provide details outlining Proposer’s vision and project plan for development of the Site, information which demonstrates the quality of design, layout, landscaping, construction,
materials and Project components. Provide detailed plans for the functional and aesthetic integration of the facilities. Demonstrate how the proposed plans for the Project will foster a
uniform concept for the Site. Pg. 11-39

14. Describe Proposer’s approach to project organization, management and maintenance of the Site throughout the entire term of the lease agreement, including the responsibilities
of Proposer’s and other Developer Team member’s management and staff personnel that will perform work on the Project. Pg. 54

15. Provide a market analysis of the Development Site to include, at minimum, the following information: Pg. 97

16. Provide conceptual site plans and renderings showing the development design and layout showing all structures to be located on the Site. Include, at a minimum: the master site
plan, the building elevation and proposed landscaping. Ensure to address: Pg. 11-39

17. Provide details of quality construction that meets all applicable regulatory requirements. Pg. 109
18. Identify if Proposer’s proposed development project is in conformance with the current zoning. If not, identify what alternative zoning change/variance and/or change in the
development master plan is being offered, including why it is in the best interest of the County. Describe Proposer’s anticipated ability to obtain such changes/variations, including any Pg. 50
impact to the schedule for completion of the Project.
Note: Proposer should include only expected or needed zoning changes, and/or changes to the comprehensive master development plan, if reasonably anticipated to receive approval Pg. 50
by the County/ applicable agencies.
19. Description of energy efficient features that are planned to be incorporated into the development. Pg. 52
20. Describe Proposer’s proposed plan to design and obtain, at a minimum, Silver certification rating from LEED. Describe if Proposer’s proposed plan exceeds the minimum Silver
certification, including to what extent it exceeds this minimum Silver certification requirement. Pg. 52
21. Describe in detail the measures to be taken to identify, monitor, mitigate and remediate any negative impacts to transit operations, transit facilities, vehicular and pedestrian
traffic patterns, and the neighborhood (i.e. noise, lighting, potential worksite hazards, etc.) during and after construction. Pg. 48

22. Describe Proposer’s approach to manage communications with the community, organizations, and other businesses. Pg. 60
23. Describe the strategies to induce aesthetic, physical, social and economic revitalization of the community. Include how Proposer will work with the Overtown community to help
improve and revitalize the neighborhood. Pg. 57
24. Describe a marketing plan for any and all commercial and/or residential units in accordance with the requirements and policy as stated in the Selected Proposer’s marketing
Pg. 62
guidelines.

D. Construction Schedule Section 6


25. Provide a proposed duration and project schedule for all work (design and construction activities) commencing from award of the Lease Agreement to the issuance of the
Certificate of Occupancy, identifying key dates, tasks, and duration of each. Project construction shall be completed, as evidenced by an issued Certificate of Occupancy (CO), by no Pg. 69
later than August 2020. A Gantt chart is preferred. Provide a draft project schedule for construction identifying specific key tasks (construction, completion, occupancy) and duration to
successfully complete the Project. Demonstrate the Proposer’s ability to complete the development on the earliest possible date, having a realistic schedule to advise plans to provide
County with quarterly reports.

E. Financial Information Section 12


26. Provide documentation which clearly demonstrates the Proposer’s financial strength and ability to develop the Project. Such documentation may include the Proposer’s most
recent certified business financial statements as of a date not earlier than the end of the Proposer’s preceding official tax accounting period with a statement, in writing signed by a duly
authorized representative, stating that the present financial conditions are materially the same as that shown on the balance sheet and income statement submitted, or with an Pg. 201-213
explanation for a material change in the financial statements. If certified financial statements are not available, provide latest available financial statements (balance sheet and income
statement) and letters of credit available from accredited financial institutions accompanied by a letter authoring each credit reference to respond to inquiries from Miami-Dade County.
Any other relevant documentation may also be included. A copy of the most recent business income tax return will be accepted if certified financial statements are unavailable.

27. Describe Proposer’s approach to finance the Project and the resources Proposer intends to utilize. Identify all sources of capital and list respective amount(s) for each. Pg. 202

28. Provide Letter(s) of Intent from, and term sheet(s) for, each source of capital. Include documentation to demonstrate Proposer’s ability to secure financing for the Project.
Pg. 207-213, 184 - 188, 193 -198

29. Provide an itemized Order of Magnitude Cost Estimate to include any and all capital investment and improvement costs for the Site. The estimates shall be complete and
realistic in that general quantities and prices used in developing the estimate reflect actual market level or best estimates of future price levels and credible in that the estimating Pg. 177-179
methodology used is consistent with applicable industry standards and practices.
30. Provide, at a minimum, a 30-year period pro-forma, See Attachment C to the RFP, to include pre-development, construction and operating expenses. Include a detailed cash
flow statement, by each major activity of work, if applicable. The statement should be separated by land use (i.e., residential, office, retail) and contain, at minimum, the following Pg. 168-176, 180 - 183, 189-192
projections:
31. Identify in detail all financial benefits which will accrue to the County as a result of the proposed project (Initial Rent, Guaranteed Annual Rent, and Participation Rent). The
financial benefits could include, but not be limited to, such things as improvements and continued maintenance of County property or facilities. If financial benefits in addition to rent Pg. 167, 199
are proposed, these benefits should be described in detail and quantified.
32. Identify any returns accruing to a non-profit with a record of contributing to the improvement of the Overtown community. Pg. 200

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APPENDIX B
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LEED v4 for BD+C: New Construction and Major Renovation
Project Checklist Project Name: Overtown 152 NW 8th St
Date: 3/14/2018
Y ? N
1 Credit Integrative Process - Simple box energy/water modeling 1

14 2 16 Location and Transportation 16 5 3 5 Materials and Resources 13


16 Credit LEED for Neighborhood Development Location 16 Y Prereq Storage and Collection of Recyclables Required
1 Credit Sensitive Land Protection 1 Y Prereq Construction and Demolition Waste Management Planning Required
1 1 Credit High Priority Site - Site contamination? 2 3 2 Credit Building Life-Cycle Impact Reduction - included LCA consulting 5
Building Product Disclosure and Optimization - Environmental Product
5 Credit Surrounding Density and Diverse Uses 5 1 1 Credit 2
Declarations
5 Credit Access to Quality Transit 5 1 1 Credit Building Product Disclosure and Optimization - Sourcing of Raw Materials 2
1 Credit Bicycle Facilities 1 1 1 Credit Building Product Disclosure and Optimization - Material Ingredients 2
1 Credit Reduced Parking Footprint 1 2 Credit Construction and Demolition Waste Management 2
1 Credit Green Vehicles 1
7 6 3 Indoor Environmental Quality 16
4 5 1 Sustainable Sites 10 Y Prereq Minimum Indoor Air Quality Performance Required
Y Prereq Construction Activity Pollution Prevention Required Y Prereq Environmental Tobacco Smoke Control Required
1 Credit Site Assessment 1 2 Credit Enhanced Indoor Air Quality Strategies 2
1 1 Credit Site Development - Protect or Restore Habitat 2 2 1 Credit Low-Emitting Materials 3
1 Credit Open Space 1 1 Credit Construction Indoor Air Quality Management Plan 1
3 Credit Rainwater Management 3 2 Credit Indoor Air Quality Assessment 2
2 Credit Heat Island Reduction 2 1 Credit Thermal Comfort 1
1 Credit Light Pollution Reduction 1 1 1 Credit Interior Lighting 2
3 Credit Daylight 3
4 7 0 Water Efficiency 11 1 Credit Quality Views 1
Y Prereq Outdoor Water Use Reduction Required 1 Credit Acoustic Performance 1
Y Prereq Indoor Water Use Reduction Required
Y Prereq Building-Level Water Metering Required 6 0 0 Innovation 6
1 1 Credit Outdoor Water Use Reduction 2 5 Credit Innovation 5
2 4 Credit Indoor Water Use Reduction 6 1 Credit LEED Accredited Professional 1
2 Credit Cooling Tower Water Use 2
1 Credit Water Metering 1 1 3 0 Regional Priority 4
1 Credit Regional Priority: Bicycle facilities 1
8 22 1 Energy and Atmosphere 33 1 Credit Regional Priority: Renewable Energy Production 1
Y Prereq Fundamental Commissioning and Verification Required 1 Credit Regional Priority: Light Pollution Reduction 1
Y Prereq Minimum Energy Performance Required 1 Credit Regional Priority: Outdoor Water Use Reduction -100% nonpotable 1
Y Prereq Building-Level Energy Metering Required
Y Prereq Fundamental Refrigerant Management Required 50 48 26 TOTALS Possible Points: 110
3 3 Credit Enhanced Commissioning 6 Certified: 40 to 49 points, Silver: 50 to 59 points, Gold: 60 to 79 points, Platinum: 80 to 110
3 13 Credit Optimize Energy Performance 18
1 Credit Advanced Energy Metering 1
1 1 Credit Demand Response 2
3 Credit Renewable Energy Production 3
1 Credit Enhanced Refrigerant Management 1
2 Credit Green Power and Carbon Offsets 2

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APPENDIX C
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March 13, 2018

Arnaud Karsenti
Managing Principal
13th Floor Investments
848 Brickell Avenue
PH 1
Miami, Florida 33131

RE: Parking Revenue Analysis – Block 45 project

Dear Mr. Karsenti:

As requested, below are the revenue projections for the above mentioned project along
with full size detailed profit and loss documents. Our revenue forecast is based on the
following projections and assumptions:

• Parking garage built to code with 700 parking spaces


• Equipment to allow for fully automated operations (Pay on foot, pre-payment
options, and no cashiers at the exit lanes).
• We assume normal metro mover operations in the Downtown area (important for
our special event projections).
• We assume the Beckham Stadium project will be built at the current proposed
site with a seating capacity of 25,000 seats. Additionally, we assume that the
stadium will be allowed to use already built parking spaces to fulfill their parking
requirements.
• We assume 80% occupancy on all retail components.
• We did not include parking equipment or start up expenses in our assumptions
nor any other capital expenditure.
• We assume normal economic conditions in the City of Miami and Miami-Dade
County.

We have created a final model that assumes vehicle volumes of similar projects in the
area and takes into account discounted parking expected to be offered to certain
residents. Below we detail our assumptions which roll up to our one (1) year Profit and
loss statement.

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Revenues –

We project the gross transient revenues to be $795,664 made up of the following


contributing factors:

• Transient weekday Revenue of $303,072 (280 vehicles a day with an Average


Ticket Price {“ATP”} of $4.10).
• Transient weeknight Revenue of $151,536 (140 vehicles a day with an ATP of
$4.10).
• Transient weekend Revenue of $96,056 (210 vehicles a day with an ATP of
$4.08).
• Special Event Revenue –
o $16,800 - Miami Heat (40 vehicles at an ATP of $10 for 42 games)
o $8,000 – Bayfront Park (40 vehicles at an ATP of $10 for 20 events)
o $90,000 – Beckham Stadium (300 vehicles at an ATP of $15 for 20
events)
o $4,200 – Valet storage (70 vehicles at a set $5.00 rate for 12 events)

We project the Monthly Parking revenues to be $126,000 made up of the following


parker groups:

• Outside monthly Parker Revenues of $126,000 (125 vehicles at a rate of


$84/month).

Our total projected gross revenues under these assumptions are estimated at $795,664
and $632,854 net of taxes & surcharge/credit card fees. This is equivalent to $1,136 per
space.

Expenses –

Our expenses are estimated at $397,345 per year. The expenses are made up of the
following items:

• Payroll and related costs: $193,374


• Other Operating costs: $179,971
• Management fee: $24,000

Net Operating Income of $235,509

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First Year Pro Forma


Block 45
Financial Projections
Year 1 $/Space Total
Revenues
Transient 669,664 669,664
Monthly 126,000 126,000
Gross Revenue $ 795,664 795,664
Less Sales Tax (149,045) (149,045)
Credit Card Fees (13,764) (13,764)
Net Revenue $ 632,854 904 632,854
Expenses
Payroll & Benefits
Salaries & Wages 155,211 155,211
Payroll Taxes & Burden 16,021 16,021
Health, Pension & 401(k) 8,949 8,949
Workers Compensation 13,193 13,193
Payroll & Benefit Expense $ 193,374 276 193,374
Other Operating Expenses
Uniforms & Laundry 2,250 2,250
Printing 7,440 7,440
Amenities & Supplies 3,850 3,850
Repairs & Maintenance 37,900 37,900
License & Permits 2,500 2,500
Liability Insurance 15,400 15,400
Utilities 79,200 79,200
Postage & Freight 1,200 1,200
Telephone 12,480 12,480
Data Processing 7,996 7,996
Employee Processing 1,727 1,727
General Expense 8,028 8,028
Total Operating Expense $ 179,971 257 179,971

Management Fee
Base Management Fee 24,000 24,000
Total Management Fee $ 24,000 24,000

Expense Total $ 397,346 568 397,346


Net Operating Income $ 235,509 336 235,509

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Page 4

Should you need any further clarification, please feel free to call me at 305-218-9032.

Sincerely,

Chester S. Escobar
Regional Manager, South Florida and Puerto Rico

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APPENDIX D
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APPENDIX D - SPOTLIGHT ON
13th Floor / Adler Group - Transit Oriented Partnership

Miami River Center in pipeline


• Projected project cost: $500MM
• Ground lease with City of Miami
• Four residential towers
• 1.4MM SF of mixed-use space
- 1500+ Multi-family Units
- 144 Key Hotel
- 60K SF Open Space / Public Plaza
- 24K SF Retail

Link at Douglas permitting phase


• Projected project cost: $565MM
• 90 year ground lease with the MDTA
• Up to 1.5MM SF of mixed-use space
- 1400 Residential Units
- 250K SF Office
- 85K SF Open Space / Public Plaza
- 80K SF Retail

Motion at Dadeland under construction


• Projected project cost: $86M
• Ground lease with Miami Dade county
• 0.87 acres
• 25 stories, 294-unit, 276K rentable SF
luxury Class “A” multifamily develop-
ment

As partners, Adler and 13th Floor Investments continue to invest over


$1.0 Billion in Transit Oriented Public Private Partnerships

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COMPRABLE PROJECT #1

A 1.4M Leasable SF Mixed-use Transit Oriented


Development in the Heart of Miami, FL

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CONFIDENTIAL

T H E H U B @ O V E R T O W N 1
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PROJECT SCOPE

The project will be developed in four phases.


Phase I includes everything north of the Metrorail.
This phase is being subdivided into three independent
buildings to allow for maximum flexibility in execution.

Phase I-A Phase I-B Phase I-C Phase II Phase III Phase IV

A 200,000 SF residential A 323,000 SF residential tower A 14,000 SF A standalone A 254,000 SF A 262,000 SF residential
microunit tower with 312 with 374 units and average sizes retail glass cube. 280,000 SF office residential tower with tower with 359 units
units averaging 623 SF of 837 SF. A 43,000 grocer space tower with 23,000 330 units averaging averaging 731 SF per
per unit. This tower also will also be included as part of this RSF floorplates 717 SF per unit. This unit.
includes 6,000 SF of ground mixed-use building. Additionally, and 22 stories. The tower also includes
floor retail. Additionally, 75,000 SF of open public spaces building will also 2,000 SF of ground
infrastructure upgrades to will also be developed as part of have a café retail floor retail.
access the site through a this phase. The open spaces will area of 2,000 SF
new traffic circle and will be be comprised of a 25,000 SF
developed alongside this public plaza and 50,000 SF
tower. underline park.

CONFIDENTIAL

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CORE MIAMI LOCATION


The property is located at Douglas Station in Miami-Dade county. The site is bounded by
US 1 on the south Douglas Rd on the East, Bird Rd on the West and Peacock on the North. Douglas Station & Metrorail
creating a 7 acre site in the heart of one of Miami’s most vibrant urban communities.
Link’s location on the Metrorail station allows for quick
15
access to the major centers of Miami when compared
7 to the typical rush hour drive-time:
9

6
8

14

5 2

11
2
4
2
3

2 12

10 13
2
2

1 Link at Douglas 9 Adrienne Arsht Center for the Performing Arts AREA METRORAIL RUSH HOUR DRIVE*
2 Transit Lines & Metro Stations 10 Dadeland Mall Brickell 8 min 26 min
3 Coconut Grove 11 Vizcaya Dadeland 7 min 24 min
4 Merrick Park 12 Sunset Place
MIA Airport 24 min 26 min
5 Miracle Mile 13 Motion at Dadeland
University of Miami 3 min 10 min
6 American Airlines Arena 14 1010 Brickell
7 Miami International Airport 15 Midtown 29 Recent 13th Floor
*As determined by Waze
8 Downtown Miami and Adler Projects

CONFIDENTIAL

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RESIDENCE

LIVE
4 Towers | 1,375 UNITS

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OFFICE

WORK
22 Stories | 281,000 SF UNITS

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GO
Ultimate Connectivity

CONFIDENTIAL

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COMPRABLE PROJECT

294 Unit Multifamily


Residential Tower T

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VILLAGE OF

UNIVERSITY
MERRICK PARK
DOWNTOWN
OF MIAMI MIAMI
BISCAYNE BAY
CORAL GABLES COCONUT GROVE

SOUTH
SOUTH MIAMI MIAMI
HOSPITAL
DADELAND STATION

S. D
IXIE
SNAPPER CREEK EXPY. DADELAND
M NORTH

HW
STATION

Y.

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INTERIORS

16

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Dadeland

SMALLER INDIVIDUAL RETAILERS DESIGNER HOMEWARES ANCHOR TENANT SPA / NAIL SALON

FRESHLY SQUEEZED JUICE & SMOOTHY BAR BOLD SIGNAGE FRESH FOOD GROCER’S NOSTALGIC NEIGHBOURHOOD COFFEE SHOP

Retail - Look and Feel

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APPENDIX E
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OVERVIEW OF RENTAL APARTMENT


MARKET
General Overtown Submarket
Miami-Dade County, Florida

Prepared For:

13th Floor Investments

Prepared By:

Reinhold P. Wolff Economic Research, Inc.


L. Keith White, President
February, 2018

Reinhold P. Wolff Economic Research, Inc.


Serving Florida Since 1961
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REINHOLD P. WOLFF ECONOMIC RESEARCH, INC.

430343 03 N E 1 s t T1errace,
Northeast SuiteSuite
s t Terrace, 3 3
Oakland
Oakland Park,
Park, F L 33334
Florida 33334
PH ONE 95463 0-18 44
PHON E 954-630-1844
FAX 9 54-6 30-1 516
FAX 954-630-1516
E-MAIL r pwinc@bellsouth.net
E-MAIL rp winc@bellsouth.net

February 26, 2018

Mr. Aaron Stolear


Associate Vice President
13th Floor Investments
848 Brickell Avenue PH1
Miami, FL 33131

Dear Mr. Stolear:

I am pleased to submit the attached overview of the rental apartment market of Miami-
Dade County and the General Overtown submarket, Florida.

Please contact me at your convenience if you have any questions or comments.

With best regards, I am,

Sincerely,

L. Keith White
President
LKW/ir
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OVERVIEW OF RENTAL APARTMENT MARKET


Miami-Dade County And
General Overtown Submarket

I. PURPOSE OF MARKET ANALYSIS


The purpose of this market overview is to provide a summary of demographic and market
trends impacting the apartment markets of Miami-Dade County and the General Overtown
submarket.

II. DEMAND FOR RENTAL APARTMENTS


A. Population And Household Growth
Although the most populous county in the State, Miami-Dade County was one of the
fastest growing counties in Florida from 1990 to 2000 with the population expanding by an average
of 31,627 persons per year. This growth rate declined considerably to 24,307 per year from 2000 to
2010 due largely to the recent economic recession as well as the mild recession which occurred in
2001 – 2002. Over the past seven years, from 2010 to 2017, the population of the County is
estimated to have increased by an average of 32,675 per year.
The population of Miami-Dade County is forecast to increase by 35,613 persons per year from
2017 to 2020 (measured April to April) reaching a total of 2,832,000. (See Table 1.)
As could be expected, household growth has followed a similar trend as population increasing
by an average of 8,442 annually from 1990 to 2000 and by 9,058 per year from 2000 to 2010. From
2010 to 2017 the number of households in Miami-Dade County is estimated to have increased by an
average of 11,354 per year. From 2017 to 2020 households are forecast to increase by an annual
average of 12,373 per year. (See Table 1.)
From 1990 to 2000 the population of the General Overtown Area declined by an average of 525
per year while from 2000 to 2010 the population increased by an average of 277 per year according
to U.S. Census data. From 2010 to 2017 the population is estimated to have increased by an average
of 1,274 per year and from 2017 to 2020 the population is forecast to increase by 1,345 persons per
year reaching a total of 191,120. (See Table 2.)
The number of households in the General Overtown Area declined by an average of 225 per
year from 1990 to 2000 and they increased by 278 annually from 2000 to 2010 and by 447 per year
from 2010 to 2017. From 2017 to 2020 households in the market area are forecast to increase by
470 per year.

-1-
Reinhold P. Wolff Economic Research, Inc.
Serving Florida Since 1961
LIVE.WORK.PLAY.

B. Growth Of Housing Supply


The number of housing units in Miami-Dade County expanded by an average of 8,099
units per year from 1990 to 2000 and by 12,830 units annually from 2000 to 2010. The number of
housing units is estimated to have increased by 12,836 annually from 2010 to 2017. It is forecast
that about 13,988 housing units per year will be added to the County’s total supply from 2017 to
2020 in order to accommodate the forecasted expansion of households. (See Table 3.)
In the General Overtown Area the number of housing units declined by an average of 196 units
per year from 1990 to 2000 and from 2000 to 2010 an average of 743 housing units were added per
year. It is forecast that the number of housing units in the market area will need to increase by 545
units per year from 2017 to 2020 in order to accommodate the forecasted increase in households.
(See Table 4.)

C. Demand For Apartments


Table 5 shows the historical and forecasted trend of rental utilized housing in Miami-Dade
County and in the General Overtown Area. This includes all housing which is offered for rent
including apartments, single family homes, condominiums and other types of housing.
According to data from the U.S. Census, renter utilized housing increased at a modest pace
from 1990 to 2000 compared to the preceding decade, expanding by an average of 718 units per year
in Miami-Dade County. From 2000 to 2010, however, renter utilized housing increased once again
as a percentage share of housing, a trend which is forecast to continue throughout the 2017 – 2020
forecast period as land becomes even more scarce and multi-family housing becomes more
prevalent.
As Table 5 shows, renter utilized housing increased by 7,376 units per year in Miami-Dade
County from 2000 to 2010 and an average of 8,579 units are estimated to have been added annually
from 2010 to 2017. It is forecast that the number of renter utilized housing units in the County will
increase by an average of 9,415 units per year from 2017 to 2020. In the General Overtown Area
renter utilized housing is forecast to increase by 960 units per year from 2017 to 2020. (See Table
5.)
Historical analysis of apartment markets in Southeast Florida indicates that rental apartments
can capture 80% of the increase in need for rental utilized housing if an adequate supply of units are
offered. There is additional demand potential for apartments generated by households renting non-
apartment housing which can be drawn to the multi-family apartment market if apartments of the
character sought are offered. It is estimated that there is a demand potential for up to 10,960

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Serving Florida Since 1961
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additional apartment units per year in Miami-Dade County from 2017 to 2020. It is estimated that
2,896 units of the annual demand from 2017 to 2020 is in the General Overtown Area.
Analysis of household income data indicates that 55.4% of the renter households in Miami-
Dade County and 37.5% in the General Overtown Area could afford market rate rents of $850 or
more per month. This indicates a demand for 6,072 market rate apartment units annually in Miami-
Dade County from 2017 to 2020. In the General Overtown Area the annual demand for market rate
$850+ rental apartments is forecast at 1,086 units per year from 2017 to 2020.
Tables 6 and 7 show the distribution of all households and renter households by income ranges
in the County and Market Area as of 2017.

III. APARTMENT MARKET CONDITIONS


A. Miami-Dade County
As Table 8 shows, there were 1,650 completed but unoccupied new rental apartment units
available throughout Miami-Dade County at the end of September, 2017. Analysis of rental housing
markets throughout Florida has shown that up to six months of supply of new, never before occupied
apartment units is acceptable to have available without the inventory being excessive. As indicated
previously, there is an estimated annual demand for 10,960 additional rental apartment units in
Miami-Dade County from 2017 – 2020. Based on six months of supply being acceptable, the market
could support up to 5,480 units in inventory while there were 1,650 at the end of September, 2017.
A November, 2017 survey of rental apartment buildings 18 or more months old throughout
Miami-Dade County revealed a low vacancy rate of 4.6%. Table 9 shows the trend of rental
apartment vacancy rates in the County as of May and November during 2010 - 2017. The vacancy
rate during 2005 through 2007 had been in the 1% to 2% range before starting to increase. The
increased vacancy rate over the 2008 – 2009 period was primarily the result of increased competition
from the non-apartment or “shadow” rental market units and the economic recession. The vacancy
rate in Miami-Dade County, however, never exceeded the 7% range and has declined notably from
that level. (See Table 9.)
Lower-income affordable apartment developments in Miami-Dade County have a notably
lower vacancy rate than found in market rate developments. As Table 10 shows, the vacancy rate
found in 115 lower-income affordable tax credit apartment developments in Miami-Dade County
was only 0.6% in August, 2017.
New apartment development in Miami-Dade County started to increase in 2012 following eight
years of limited development activity. While during 2004-2011 an average of only 595 apartments

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were started annually, a total of 2,557 units were started in 2013, 2,987 in 2014, 5,921 in 2015 and
4,409 in 2016. Through September, 2017 a total of 5,234 units have been started.
New apartment completions in the County started to increase in 2013 with 1,503 units reaching
completion and 1,946 were completed in 2014, 3,077 in 2015 and 4,939 in 2016. Through
September, 2017 a total of 3,033 units have been completed. This level of completions is low
compared to the demand for additional units.
New apartment absorption in Miami-Dade County declined notably as new unit completions
fell following 2004. During 2004 a total of 2,392 new units were absorbed while in 2005 the total
was only 944. During 2006 through 2012 an average of only 652 new units were absorbed annually
in the County. New unit absorption increased notably in 2013 – 2014 averaging 1,367 units per year
and 2,791 were absorbed in 2015 and 4,017 in 2016. Through September, 2017 a total of 3,383 new
units were absorbed. (See Table 8.)
The overall average monthly rent for all types of rental apartments combined in Miami-Dade
County stood at $1,748 in November, 2017. This represented an increase of 1.3% over the $1,725
average of one year ago. In the preceding year the overall average rent had increased by 7.2%. (See
Table 11.)
Table 12 shows rental utilized housing by type in Miami-Dade County and in the General
Overtown Area.

B. The General Overtown Area


Table 13 shows the trend of vacancy rates in the General Overtown Area during the 2010
– 2017 period. The General Overtown Area is defined as Areas 5 and 8, on Map No. 1 for purposes
of this analysis. As of November, 2017 the vacancy rate in the General Overtown Area stood at
4.6%. This is somewhat higher than the low 3.7% vacancy rate found in the area in February, 2017
and in August, 2016. (See Table 13.)
At the end of September, 2017 there were 143 completed but unoccupied new apartment units
in inventory in the General Overtown Area. The year end inventory of completed but unoccupied
new units has typically been low in the General Overtown Area. (See Table 14.)
During the seven year period of 2010 through 2016 new rental apartment absorption in the
General Overtown area was rather low averaging 197 units per year. During 2016, however, 356
new units were absorbed and 250 were absorbed through June, 2017. Historically, the low level of
new unit absorption in the area was the result of limited development activity.

-4-
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Serving Florida Since 1961
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New apartment construction starts began to increase in 2014 and an average of 548 units were
started per year in the General Overtown Area during 2014 – 2016. During 2016, however, 822
apartments were started in the area and 293 were started through June, 2017.
Table 14 shows the trend of average monthly rents in the General Overtown Area from 2000 to
2017. The analysis shows that the overall average monthly rent for apartment units increased by an
average of 7.6% per year from 2010 to 2017 measured as of August each year. Over the past one
year from August, 2016 to August, 2017, the overall average rent increased by 5.8.
Table 16 and 17 list market rate rental apartment developments under construction/lease-up and
planned/proposed throughout Miami-Dade County.

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Serving Florida Since 1961
LIVE.WORK.PLAY.

MAP NO. 1
SUBMARKET AREAS 5 & 8
LIVE.WORK.PLAY.
TABLE 1

HISTORICAL AND FORECASTED POPULATION


AND HOUSEHOLD GROWTH
Miami-Dade County
1980 - 2020

Year Population Households


1980 1,625,781 609,830
1990 1,937,094 692,355
2000 2,253,362 776,774
2010 2,496,435 867,352
2017 (Estimate) 2,725,160 946,830
2020 (Forecast) 2,832,000 983,950

Average Annual Change:


1980 - 1990 +31,131 +8,253
1990 - 2000 +31,627 +8,442
2000 - 2010 +24,307 +9,058
2010 - 2017 +32,675 +11,354
2017 - 2020 +35,613 +12,373

Source: 1980 - 2010, U.S. Bureau of the Census; 2017 estimated and 2020 forecast by
Reinhold P. Wolff Economic Research, Inc. based on data from the University of
Florida, Bureau of Business and Economic Research, Division of Popupation Studies.
LIVE.WORK.PLAY.
TABLE 3

HISTORICAL AND FORECASTED


GROWTH OF HOUSING
Miami-Dade County
1980 - 2020

Total
Year Housing Units
1980 665,382
1990 771,288
2000 852,278
2010 980,580
2017 (Estimate) 1,070,430
2020 (Forecast) 1,112,395

Average Annual Change:


1980 - 1990 +10,591
1990 - 2000 +8,099
2000 - 2010 +12,830
2010 - 2017 +12,836
2017 - 2020 +13,988

Source: U.S. Census of Housing, 1980 - 2010; 2017 estimated and 2020 forecast by
Reinhold P. Wolff Economic Research, Inc. based on trend in the ratio of housing
units to households.
LIVE.WORK.PLAY.
TABLE 4

GROWTH OF HOUSING
The General Overtown Area
1990 - 2017
Forecast To 2020

Total
Year Housing Units
1990 66,484
2000 64,521
2010 71,954
2017 (Estimate) 75,565

2020 (Forecast) 77,200


Average Annual Change:

1990 - 2000 -196

2000 - 2010 +743

2010 - 2017 +516

2017 - 2020 +545

Source: U.S. Census of Housing, 1990 - 2010; 2017 estimated and 2020 forecast by
Reinhold P. Wolff Economic Research, Inc. based on analysis of trends in the ratio of
housing units to households.
LIVE.WORK.PLAY.
TABLE 5

TREND OF RENTAL HOUSING STOCK


Miami-Dade County And The General Overtown Area
1990 - 2017
Forecasted To 2020

General
Miami-Dade County Overtown Area
% Of Total % Of Total
Rental Housing Units Rental Housing Units
Year Units Within Area Units Within Area
1990 352,479 45.7% 47,337 71.2%
2000 359,661 42.2% 43,487 67.4%
2010 433,416 44.2% 52,598 73.1%
2017 (Estimate) 493,468 46.1% 58,261 77.1%
2020 (Forecast) 521,713 46.9% 61,142 79.2%
Average Annual Increase:
1990 - 2000 +718 - +385
2000 - 2010 +7,376 +911
2010 - 2017 +8,579 +809
2017 - 2020 +9,415 +960

Source: 1990 - 2010 U.S. Bureau of the Census; 2017 estimated and 2020 forecast based
on trend of percentage share of rental units to total housing by Reinhold P. Wolff
Economic Research, Inc.
LIVE.WORK.PLAY.
TABLE 6

DISTRIBUTION OF RESIDENT HOUSEHOLD INCOME


Miami-Dade County And The General Overtown Area
2017

Percent Of Households
Miami-Dade The General
Income Range County Overtown Area
Under $10,000 7.7% 17.9%
10,000 - 14,999 6.6% 12.3%
15,000 - 24,999 11.5% 19.6%
25,000 - 34,999 10.5% 14.0%
35,000 - 49,999 13.6% 13.0%
50,000 - 74,999 17.6% 11.3%
75,000 - 99,999 11.4% 5.1%
100,000 - 149,999 12.1% 4.3%
150,000 - 199,999 4.3% 1.5%
200,000 + 4.8% 1.1%
TOTALS 100.0% 100.0%

Median Income $50,141 $25,142

Source: U.S. Bureau of the Census, 2000 and 2010, updated to 2017 based on analysis of
income trends by Census by Reinhold P. Wolff Economic Research, Inc.
LIVE.WORK.PLAY.
TABLE 7

DISTRIBUTION OF RENTER HOUSEHOLD INCOMES


Miami-Dade County And The General Overtown Area
2017

Percent Of Households
Miami-Dade The General
Income Range County Overtown Area
Under $10,000 12.5% 20.7%
10,000 - 14,999 9.7% 13.2%
15,000 - 24,999 16.6% 22.3%
25,000 - 34,999 14.1% 15.3%
35,000 - 49,999 16.0% 13.0%
50,000 - 74,999 16.1% 9.5%
75,000 - 99,999 7.2% 3.3%
100,000 - 149,999 5.3% 1.9%
150,000 - 199,999 1.7% 0.8%
200,000 + 0.9% 0.1%

TOTALS 100.0% 100.0%

Median Income $32,942 $22,219

Source: Analysis by Reinhold P. Wolff Economic Research, Inc. of 2000-2010 U.S.


Census data showing renter household incomes and all household incomes and
trend analysis.
LIVE.WORK.PLAY.
TABLE 8

DEVELOPMENT, ABSORPTION AND INVENTORY


TREND OF NEW APARTMENTS (1)
Miami-Dade County
2010 - 2017

Newly Newly Started Under In Inventory


Year Occupied Completed Construction End Of Year

2010 1,137 875 910 95

2011 927 869 438 37

2012 226 326 1,771 137

2013 1,317 1,503 2,557 323

2014 1,417 1,946 2,987 792

2015 2,791 3,077 5,921 1,078

2016 4,017 4,934 3,529 2,000

2017 (Thru Sept.) 3,383 3,033 5,234 1,650

(1) New unit occupancies can exceed completions in any one year as units in inventory prior
to the period may be absorbed during the period.

Source: Field surveys of residential developments; Reinhold P. Wolff Economic Research,


Inc.
LIVE.WORK.PLAY.
TABLE 9

TREND OF RENTAL APARTMENT VACANCY RATE


Miami-Dade County
2010 - 2017

Percent Of Units Vacant As Of:


Year May November

2010 4.0% 2.8%

2011 4.2% 2.8%

2012 3.4% 2.6%

2013 4.6% 3.1%

2014 3.8% 3.1%

2014 3.8% 3.1%

2015 3.3% 2.9%

2016 2.9% 3.9%

2017 3.6% 4.6%

Source: Quarterly surveys by Reinhold P. Wolff Economic Research, Inc. of about 30%
sample of registered rental apartments in Miami-Dade County (in excess of 45,514
units in 2017).
LIVE.WORK.PLAY.
TABLE 10

SUMMARY OF TAX CREDIT


AFFORDABLE RENTAL DEVELOPMENTS
Miami-Dade County
November, 2017

Number Of Developments Surveyed: 116


Total Units In Survey: 17,135
Number Of Units Vacant: 105
Vacancy Rate: 0.6%

Average Average
Monthly Average Rent Per
Rent Square Footage Sq. Ft.
Overall Average: $904 882 Sq. Ft. 102.5¢

Efficiency: $622 423 Sq. Ft. 147.0¢

One-Bedroom: $760 654 Sq. Ft. 116.2¢

Two-Bedroom: $907 870 Sq. Ft. 104.3¢

Three-Bedroom: $1,035 1,083 Sq. Ft. 95.6¢

Four-Bedroom: $1,077 1,486 Sq. Ft. 72.5¢

Source: Field surveys by Reinhold P. Wolff Economic Research, Inc.


LIVE.WORK.PLAY.
TABLE 11

TREND OF AVERAGE MONTHLY RENT (1)


Miami-Dade County
Rental Apartments, By Type
2010 - 2017
Unit Type
One- Two- Three- Overall
As Of November Bedroom Bedroom Bedroom Average (2)

2010 $1,042 $1,321 $1,612 $1,190

2011 $1,092 $1,478 $1,669 $1,290

2012 $1,170 $1,536 $1,794 $1,363

2013 $1,235 $1,576 $1,797 $1,413

2014 $1,326 $1,703 $1,964 $1,532

2015 $1,374 $1,786 $2,124 $1,609

2016 $1,479 $1,900 $2,236 $1,725

2017 $1,518 $1,914 $2,293 $1,748


Average Annual Percent Change:
2000 - 2010 +3.7% +3.6% +3.0% +3.6%
2013 - 2014 +7.4% +8.1% +9.3% +8.4%
2014 - 2015 +3.6% +4.9% +8.1% +5.0%
2015 - 2016 +7.6% +6.4% +5.3% +7.2%
2016 - 2017 +2.6% +0.7% +2.5% +1.3%

(1) Projects included in this survey include many old and small developments which have
rents not comparable to a new development.

(2) Includes efficiency apartments.

Source: Surveys of rental apartment developments by Reinhold P. Wolff Economic


Research, Inc.
LIVE.WORK.PLAY.
TABLE 12

GENERAL CHARACTER OF HOUSING


UTILIZED ON RENTAL BASIS
Miami-Dade County And The General Overtown Area
2017

Number And % Of Rental Housing


Rental Utilized Units Percent Of Totals
Miami-Dade The General Miami-Dade The General
General Housing Type County Overtown Area County Overtown Area

Rental Apartments 265,979 21,615 53.9% 37.1%

Condominium 78,461 8,972 15.9% 15.4%

Single Family Homes 129,782 25,169 26.3% 43.2%

Duplexes 14,804 2,214 3.0% 3.8%

Mobile Homes 4,442 291 0.9% 0.5%

Total Rental Utilized Housing 493,468 58,261 100.0% 100.0%

Source: Estimated by Reinhold P. Wolff Economic Research, Inc. based on analysis of U.S.
Census data and data regarding apartments registered with Florida Department of
Business Regulation.
LIVE.WORK.PLAY.
TABLE 13

RENTAL APARTMENT VACANCY RATE TREND


The General Overtown Area
2000 - 2017

Percent Of Units Vacant As Of:


Year February August

2010 4.8% 3.3%

2011 2.7% 2.4%

2012 2.3% 2.4%

2013 5.1% 3.8%

2014 5.2% 5.3%

2015 3.3% 2.7%

2016 0.3% 4.0%

2017 3.7% 4.6%

(1) The General Overtown Area for purposes of this analysis, includes Areas 5 and 8
on Map No. 1.

Source: Quarterly surveys by Reinhold P. Wolff Economic Research, Inc. of rental apartment
developments.
LIVE.WORK.PLAY.
TABLE 14

DEVELOPMENT, ABSORPTION AND INVENTORY


TREND OF NEW APARTMENTS
The General Overtown Area
2000 - 2017

Newly Newly Started Under In Inventory


Year Occupied Completed Construction End Of Year

2010 369 350 402 6

2011 487 442 186 0

2012 66 60 0 0

2013 0 0 0 0

2014 0 0 104 0

2015 104 104 718 0

2016 356 356 822 1

2017 (Thru June) 250 393 293 143

(1) The General Overtown Area for purposes of this analysis, includes Areas 5 and 8
on Map No. 1.

(2) New unit occupancies can exceed completions in any one year as units in inventory prior to
the period may be absorbed during the period.
LIVE.WORK.PLAY.
TABLE 15

APARTMENT RENT TRENDS


The General Overtown Area
2010 - 2017
Unit Type
One- Two- Three-
As Of August: Bedroom Bedroom Bedroom Overall

2010 $1,078 $1,284 $1,407 $1,203

2011 $1,155 $1,346 $1,407 $1,267

2012 $1,219 $1,464 $1,415 $1,371

2013 $1,189 $1,414 $1,427 $1,330

2014 $1,263 $1,505 $1,537 $1,424

2015 $1,410 $1,748 $2,023 $1,635

2016 $1,538 $1,810 $2,142 $1,739

2017 $1,586 $1,951 $2,246 $1,839


Average Annual Percent Change
2000 - 2010 +6.4% +6.2% +6.4% +6.1%
2010 - 2015 +6.2% +7.2% +8.8% +7.2%
2015 - 2016 +9.1% +3.5% +5.9% +6.4%
2016 - 2017 +3.1% +7.8% +4.9% +5.8%

(1) The General Overtown Area for purposes of this analysis, includes Areas 5 and 8
on Map No. 1.

Source: Surveys of rental apartment developments by Reinhold P. Wolff Economic


LIVE.WORK.PLAY.
TABLE 16

NEW RENTAL DEVELOPMENTS UNDER CONSTRUCTION/LEASE-UP


Miami-Dade County
December, 2017
Total Units General Development Parameters
Date Project
Project Name/Location/Developer Unit Range Of Range
Planned Completed Occupied Started Type
Types Sq. Ft. L/A Of Rents
Luma 429 0 0 4/2017 Market Studio UNK Upscale
N.E. 1st Street and N.E. 2nd Avenue Rate 1&2
Miami-Dade
(ZOM Development)
Quadro 198 0 0 10/2017 Market 1, 2 & 3 UNK Upscale
3900 Biscayne Blvd. Rate
Miami-Design District
(Alta Developers)
Midtown 5 400 400 368 1/2016 Market Studio 538 $1,782
3201 NE 1st Avenue Rate 1, 2 & 3 1,501 $5,290
Miami
(Magellan Development)
Biscayne 27 330 0 0 3/2017 Market Studio UNK Upscale
2701 Biscayne Blvd Rate 1, 2 & 3
Edgewater
(Richman Group)
Modera Edgewater 297 0 0 2/2017 Market Studio UNK Upscale
NE 4th Ave. btwn 24th & 25th Streets Rate 1, 2 & 3
Miami
(Mill Creek)
Square Station 710 0 0 10/2016 Market Studio UNK Upscale
1424 NE Miami Place Rate 1, 2 & 3
Miami
(Melo Group)
Midtown 29 309 0 0 3/2016 Market 1, 2 & 3 UNK UNK
190 NE 29th Street Rate
Miami
(Adler Development)
Midtown 8 387 0 0 8/2017 Market Studio UNK Upscale
2901 &2951 NE 1st Avenue Rate 1&2
Miami
(Wood Partners)
LIVE.WORK.PLAY.
TABLE 16

NEW RENTAL DEVELOPMENTS UNDER CONSTRUCTION/LEASE-UP


Miami-Dade County
December, 2017
Total Units General Development Parameters
Date Project
Project Name/Location/Developer Unit Range Of Range
Planned Completed Occupied Started Type
Types Sq. Ft. L/A Of Rents
Sofia Coral Gables 213 0 0 4/2015 Market 1, 2 & 3 384 $1,549
2020 Salzedo Street Rate 1,839 $10,699
Coral Gables
(Codina)

Pearl Dadeland 412 412 224 6/2015 Market Studio 569 $1,675
7440 Kendall Dr. Rate 1, 2 & 3 1,398 $3,735
Miami
(Morgan Group)

Joya Dadeland 438 438 406 3/2014 Market Studio 723 $2,039
8100 SW 72nd Avenue Rate 1, 2 & 3 2,226 $3,535
Miami
(Wood Partners)
300 Biscayne Apts (Vice) 464 0 0 9/2016 Market 1, 2 & 3 UNK UNK
300 Biscayne Blvd. Rate
Miami
(PMG Downtown Developers, LLC.)
8800 Doral Apts. 550 550 310 5/2015 Market 1, 2 & 3 528 $1,610
8800 Doral Boulevard Rate 1,427 $2,776
Doral
(Hines)
InTown 320 320 280 8/2015 Market 1, 2 & 3 660 $1,709
1900 SW 8th Street Rate 1,788 $3,222
Miami
(Greystar)
River Landing 475 0 0 4/2015 Market 1, 2 & 3 UNK UNK
1400 N.W. N. River Drive Rate
Miami
(River Landing Development)
LIVE.WORK.PLAY.
TABLE 16

NEW RENTAL DEVELOPMENTS UNDER CONSTRUCTION/LEASE-UP


Miami-Dade County
December, 2017
Total Units General Development Parameters
Date Project
Project Name/Location/Developer Unit Range Of Range
Planned Completed Occupied Started Type
Types Sq. Ft. L/A Of Rents
The Flats @ CityPlace Doral 304 304 118 6/2015 Market 1, 2 & 3 518 $1,594
3450 NW 85th Courts Rate 1,518 $3,775
Miami
(Related Group)
Mirador At Doral 332 300 173 10/2015 Market 1, 2 & 3 776 $1,795
2541 NW 84th Ave Rate 1,266 $2,485
Doral
(Ram Realty)
Signature At Kendall II 150 111 101 8/2016 Market 1, 2 & 3 802 $1,495
8841 SW 172nd Avenue Rate 1,363 $2,245
Kendall
(CC Residential)
Soleste West Gables II 221 0 0 12/2015 Market 1, 2 & 3 UNK Upscale
SW 67th Avenue & SW 20th Street Rate
West Miami
(Mattoni Group)
The Aura 100 0 0 1/2016 Market 1&2 UNK Upscale
1501 SW 37th Avenue Rate
Miami
(Greystone Development)
Landmark South 420 309 87 2/2016 Market 1, 2 & 3 UNK Upscale
5751 NW 107th Ave Rate
Doral
(Congress Group & Encore Housing)
Motion At Dadeland 294 0 0 1/2017 Market Studio 680 $1,815
6800 SW 84th Street Rate 1, 2 & 3 1,380 $3,320
Dadeland
(Adler Group & 13th Floor Investments)
Modera Metro Dadeland I 422 422 249 6/2016 Market Studio 538 $1,700
8217 SW 72nd Ave Rate 1, 2 & 3 1,501 $3,525
Dadeland
(Mill Creek)
LIVE.WORK.PLAY.
TABLE 16

NEW RENTAL DEVELOPMENTS UNDER CONSTRUCTION/LEASE-UP


Miami-Dade County
December, 2017
Total Units General Development Parameters
Date Project
Project Name/Location/Developer Unit Range Of Range
Planned Completed Occupied Started Type
Types Sq. Ft. L/A Of Rents
Modera Metro Dadeland II 400 0 0 9/2016 Market Studio UNK UNK
8217 SW 72nd Ave Rate 1, 2 & 3
Dadeland
(Mill Creek)
Overture Dadeland 218 0 0 5/2017 Market Studio UNK UNK
7400 N. Kendall Drive Rate 1&2
Kendall 55+
(Greystar)
Atlantico At Palmetto Bay 271 0 0 6/2017 Market Studio UNK UNK
NEC Franjo Road/E. Hibiscus Street & Rate 1, 2 & 3
Guava Street
Village of Palmetto Bay
(Atlantic Crystals)-FCI Palmetto Bay
Modera Riverhouse 293 0 0 3/2017 Market Studio UNK UNK
N.S. of Miami River at Intersection of Rate 1, 2 & 3
N.W. 12th Ave. & NW 11th Street
Miami
(Mill Creek)
Modera Douglas Station II 181 0 0 10/2016 Market Studio UNK Upscale
3750 Bird Road Rate 1, 2 & 3
Miami
(Mill Creek)
Oasis At Blue Lagoon 272 0 0 4/2017 Market Studio UNK UNK
Blue Lagoon & NW 7th Street Rate 1, 2 & 3
At NW 65th Ave
Miami-Dade
(Pinnacle & Ascend Properties)
Solitar Brickell Apts. 438 438 32 06/2015 Market Studio 494 1895
86 SW 8th Street Rate 1, 2 & 3 1,073 $6,050
Miami
(ZOM)
LIVE.WORK.PLAY.
TABLE 16

NEW RENTAL DEVELOPMENTS UNDER CONSTRUCTION/LEASE-UP


Miami-Dade County
December, 2017
Total Units General Development Parameters
Date Project
Project Name/Location/Developer Unit Range Of Range
Planned Completed Occupied Started Type
Types Sq. Ft. L/A Of Rents
NoMa Apts. 347 0 0 9/2017 Market Studio UNK Upscale
2145 NE 164th Street Rate 1&2
North Miami
(Hunt Companies)
Soleste Alameda 310 0 0 1/2018 Market 1&2 UNK UNK
SW 63rd Ave. & SW 8th Street Rate
West Miami
(The Estates Companies)
Maizon 262 0 0 7/2017 Market Studio UNK Upscale
1100 SW 2nd Ave Rate 1&2
Miami-Dade
(ZOM Development)
Paseo de la Riviera 224 0 0 12/2017 Market Studio UNK Upscale
Across U.S. 1 from the Metrorail Rate 1&2
Coral Gables
(NP International)
SoLe Mia 280 0 0 12/2017 Market Studio UNK Upscale
16375 Biscayne Boulevard Rate 1, 2 & 3
Aventura Highrise
(SM Mulrifamily, LLC)

(1) Number of units occupied represents the number of units absorbed to date.
Note: Some information may intentionally not be reported for confidentiality reasons
Source: Survey of apartment developments and project managers by Reinhold P. Wolff Economic Research, Inc.
LIVE.WORK.PLAY.
TABLE 17

NEW RENTAL DEVELOPMENTS PLANNED


Miami-Dade County
December, 2017
Preliminary Planned
Expected Development Parameters
Units Project
Project Name/Location/Developer Start
Planned Type Unit Range Of Range
Date
Types Sq. Ft. L/A Of Rents
One Bayfront Plaza 902 1Q2019 Market 1, 2 & 3 UNK Upscale
100 S. Biscayne Boulevard Rate
Miami
(Florida East Coast Realty)
Wynwood 306 2017 Market Lofts-Studio UNK UNK
2801 NW 3rd Ave Rate 1&2
Miami
(Thor Equities)
Wynwood Square 241 Not Market Lofts-Studio UNK UNK
2201 & 2245 N. Miami Avenue PL Set Rate 1&2
Miami Sale Site
(One Real Estate Investments)
Midtown 6 447 2017 Market Studio UNK Upscale
3201 NE 1st Avenue Rate 1, 2 & 3
Miami
(Magellan Development)
Midtown 7 391 Not Market Studio UNK Upscale
3201 NE 1st Avenue Set Rate 1, 2 & 3
Miami
(Magellan Development)

Grand Station 200 Not Market Studio UNK UNK


240 N. Miami Ave Set Rate 1, 2 & 3
Miami
(Grand Station Partners)
LIVE.WORK.PLAY.
TABLE 17

NEW RENTAL DEVELOPMENTS PLANNED


Miami-Dade County
December, 2017
Preliminary Planned
Expected Development Parameters
Units Project
Project Name/Location/Developer Start
Planned Type Unit Range Of Range
Date
Types Sq. Ft. L/A Of Rents
Moishe Mana's 328 Not Market Studio UNK UNK
200 N. Miami Avenue Set Rate 1&2
Wynwood
(Moishe Mana's)

Miami Church's @300 Not Market Studio UNK UNK


500 NE 1st Ave Set Rate 1&2
Miami
(Melo Group)
Sterling Apts. @300 Not Market Studio UNK UNK
501 NE 1st Ave Set Rate 1&2
Miami
(Okan Group)

Edgewater 393 10/2017 Market Studio UNK UNK


2000 Biscayne Blvd Rate 1&2
Miami-Edgewater Workforce Mixed-use
(Verzasca Group)

Art Plaza Twin Tower 667 Not Market Studio UNK UNK
Adjacent to Miami-Dade School Board Set Rate 1&2
Miami
(Melo Group)

Park-Line 816 2019 Market Studio UNK UNK


Park-Line Miami Central Rate 1&2
Miami
(Lincoln Property Company)
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TABLE 17

NEW RENTAL DEVELOPMENTS PLANNED


Miami-Dade County
December, 2017
Preliminary Planned
Expected Development Parameters
Units Project
Project Name/Location/Developer Start
Planned Type Unit Range Of Range
Date
Types Sq. Ft. L/A Of Rents

Treo Apts. 99 Not Market Studio UNK UNK


SW 70th Street & SW 59th PL Set Rate 1&2
Miami Workforce Mixed-use
(The Treo Group)
Unnamed Naranja Apts 60 Not Market 1, 2 & 3 700 UNK
SWC 256th St. & 137th Ave Set Rate 1,150
Naranja Area
(Confidential)
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TABLE 17

NEW RENTAL DEVELOPMENTS PLANNED


Miami-Dade County
December, 2017
Preliminary Planned
Expected Development Parameters
Units Project
Project Name/Location/Developer Start
Planned Type Unit Range Of Range
Date
Types Sq. Ft. L/A Of Rents

Cutler Ridge Thn 104 Not Market 2&3 914 Upscale


S.W.C. 180th St. & 107th Ave. Set Rate 1,363
South Dade
(Altek Group)

Residences At UM South Campus 408 Not Market 1, 2 & 3 UNK UNK


nd
Coral Reef Drive (S.W. 152 Street) Set Rate
th
and S.W. 124 Avenue
West Kendall
(RAM Development)
Zamora Ave 45 Not Market 1, 2 & 3 800 Upscale
44 Zamora Ave. Set Rate 1,500
Coral Gables
(Confidential)

Village At Coral Reef 185 Not Market 1, 2 & 3 UNK UNK


Coral Reef & 97th Ave. Set Rate
Miami
(Courtelis Co.)

Gales Station 460 Not Market Studio UNK UNK


215/251 South Dixie Hwy Set Rate 1, 2 & 3
South Dade Mid-rise
(NP International)
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TABLE 17

NEW RENTAL DEVELOPMENTS PLANNED


Miami-Dade County
December, 2017
Preliminary Planned
Expected Development Parameters
Units Project
Project Name/Location/Developer Start
Planned Type Unit Range Of Range
Date
Types Sq. Ft. L/A Of Rents

Dadeland Apts. 416 Not Market 1, 2 & 3 UNK Upscale


U.S. 1 ES of SW 70th Avenue Set Rate
Dadeland
(Rilea Group)

Bonterra 300 Not Market 1, 2 & 3 UNK UNK


West of Interstate 75, Set Rate
just north of Northwest 146th Street
Hialeah
(BBX)
Granada Villas 240 Not Market 1, 2 & 3 UNK UNK
E. Side of SW 152nd Ave., Set Rate
Both Sides of SW 282nd Street
Homestead
(Acre Capital, LLC)

Alcazar Apts. 288 Not Market 1, 2 & 3 UNK UNK


SW 284th Stret & SW 152nd Street Set Rate
Naranja Area
(Alcazar Development Group)

Douglas Road Metrorail Station Ph-I=288 Not Market 1, 2 & 3 UNK UNK
Douglas Road & U.S. 1 Ph-II=302 Set Rate
Miami
(13th Floor Investments)
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TABLE 17

NEW RENTAL DEVELOPMENTS PLANNED


Miami-Dade County
December, 2017
Preliminary Planned
Expected Development Parameters
Units Project
Project Name/Location/Developer Start
Planned Type Unit Range Of Range
Date
Types Sq. Ft. L/A Of Rents

Grand Bay 400 Not Market 1, 2 & 3 UNK UNK


NW 74th Street & NW 107th Avenue Set Rate
Doral
(Lennar Multifamily Communities, LLC)

Grand Doral 195 Not Market 1, 2 & 3 UNK UNK


SEC of N.W. 112th Avenue and Set Rate
N.W. 82nd Street
Doral
(Grand Doral One Ltd.)

Modera Douglas Station II 181 Not Market 1, 2 & 3 UNK UNK


Bird Road & Peacock Ave. Set Rate
Coral Gables
(Mill Creek)

Blue Residences Phase I -86 12/2017 Market Studio UNK Upscale


1301 NW 8th Street Phase II -86 Rate 1&2
Miami-Dade
(Bar Invest Group)

Atrum At Doral 350 Not Market 1, 2 & 3 UNK UNK


NW 79th Avenue, West of Doral Blvd. Set Rate
Doral
(Confidential)
LIVE.WORK.PLAY.
TABLE 17

NEW RENTAL DEVELOPMENTS PLANNED


Miami-Dade County
December, 2017
Preliminary Planned
Expected Development Parameters
Units Project
Project Name/Location/Developer Start
Planned Type Unit Range Of Range
Date
Types Sq. Ft. L/A Of Rents

Gables Station 526 Not Market Studio UNK UNK


251 S. Dixie Highway Set Rate 1&2
Coral Gables
(NP International)
Village At Coral Reef 175 Not Market 1, 2 & 3 UNK UNK
9867 SW 152nd Street Set Rate
South Miami-Dade Co.
(AHS Development Group)
Soleste North Miami 480 Not Market Studio UNK UNK
16395 Biscayne Boulevard Set Rate 1, 2 & 3
Miami
(The Estates Companies)

Shoma Apts. 172 Not Market Studio UNK UNK


1500 Venera Avenue Set Rate 1&2
Coral Gables
(Shoma)
Preserve On The Bay 280+ Not Market Studio UNK Upscale
16375 Biscayne Boulevard Set Rate 1, 2 & 3
Aventura Highrise
(Transamerican Development Corp.)
Reed Capital Apts. 349 Not Market 1, 2 & 3 UNK Upscale
2145 NE 164th Street Set Rate
N. Miami Beach
(Aventura Property Holdings, LLC)
LIVE.WORK.PLAY.
TABLE 17

NEW RENTAL DEVELOPMENTS PLANNED


Miami-Dade County
December, 2017
Preliminary Planned
Expected Development Parameters
Units Project
Project Name/Location/Developer Start
Planned Type Unit Range Of Range
Date
Types Sq. Ft. L/A Of Rents

Causeway Village 297 2Q2017 Market Studio UNK Upscale


1850 NE 123rd Street Rate 1&2
N. Miami Beach
(Taubco Development)
Brickell Apts. 572 3Q2017 Market Studio UNK Upscale
1111 Brickell Bay Rate 1&2
Miami
(AIMCO)
Platform 3750 200 Not Market 1, 2 & 3 UNK Upscale
3750 S. Dixie Highway Set Rate Mid-rise
Miami
(Platform 3750 LLC-Cornerstone Group)
Soleste Twenty2 337 Not Market 1&2 750 Upscale
th
2201 S.W. 67 Avenue (Ludlam Road) Set Rate 950
West Miami
(The Estates Companies)
Soleste Park View 99 Not Market 1&2 UNK UNK
SW 8th St./Btw SW 56th and 57th Ave. Set Rate
West Miami
(The Estates Companies)
Soleste Blue Lagoon 330 1Q2018 Market 1&2 750 Upscale
th
5375/5479 NW 7 St Rate 950
Miami
(The Estates Companies)
LIVE.WORK.PLAY.
TABLE 17

NEW RENTAL DEVELOPMENTS PLANNED


Miami-Dade County
December, 2017
Preliminary Planned
Expected Development Parameters
Units Project
Project Name/Location/Developer Start
Planned Type Unit Range Of Range
Date
Types Sq. Ft. L/A Of Rents
Coral Gables City Center 244 Not Market Studio UNK UNK
245 & 345 Andalusia Set Rate 1&2
Coral Gables
(Related Group & The Allen Morris Co.)
Unnamed 328 Not Market Studio UNK UNK
Corner Miracle Mile & Ponce de Leon Set Rate 1&2
Coral Gables
(Terranova, Zom & Gobson Dev.)

Unnamed 297 Not Market 1, 2 & 3 UNK UNK


131st Street & West Dixie Highway Set Rate
North Miami
(BSD 18, LLC)

Uptown 163 198 Not Market Studio UNK Upscale


NE 163rd Street and Biscayne Blvd. Set Rate 1&2
North Miami
(CK Prive, led by Prive Land Banking CEO)
Soleste Bay Village 300 Not Market Studio UNK UNK
18301 South Dixie Highway Set Rate 1, 2 & 3
Village of Palmetto Bay
(The Estates Companies)
Nexus Riverside 463 Not Market Studio UNK UNK
230 S.W. 3rd Street Set Rate 1, 2 & 3
Miami
(Adler Group)
LIVE.WORK.PLAY.
TABLE 17

NEW RENTAL DEVELOPMENTS PLANNED


Miami-Dade County
December, 2017
Preliminary Planned
Expected Development Parameters
Units Project
Project Name/Location/Developer Start
Planned Type Unit Range Of Range
Date
Types Sq. Ft. L/A Of Rents
Miami River - site 66 Not Market Studio UNK UNK
1515 NW S. River Drive Set Rate 1&2
Miami
(Antoni Pardo)
Links At Douglas Station @1000 Not Market Studio UNK UNK
Douglas Road & S. Dixie Highway Set Rate 1, 2 & 3
Coconut Grove
(13th Floor Invesrtment & Adler Group)

4200 Development 250 Not Market 1, 2 & 3 UNK UNK


NW 41th St. btw 107th & 109th Ave. Set Rate
Doral
(Codina Partners)

Reflections Apartments 138 Not Market Studio UNK UNK


1000 NW 7th Street Set Rate 1, 2 & 3
Miami-Little Havanna
(J. Milton & Associates)

Micro Apts. 175 Not Market Studio UNK UNK


950 NE 124th Street Set Rate 1&2
North Miami Workforce
(Blue Road Developers, LLC)
Aventura ParkSquare 144 Not Market Studio UNK UNK
NE 29th & 30th Avenues Set Rate 1&2
Aventura Senior
(Integra Investments/Royal Senior Care)
LIVE.WORK.PLAY.
TABLE 17

NEW RENTAL DEVELOPMENTS PLANNED


Miami-Dade County
December, 2017
Preliminary Planned
Expected Development Parameters
Units Project
Project Name/Location/Developer Start
Planned Type Unit Range Of Range
Date
Types Sq. Ft. L/A Of Rents

Sunset Place @200 Not Market Studio UNK UNK


5701 Sunset Drive Set Rate 1&2
South Miami
(Federal Realty Inst. Trust and Comras Co.)

The Plaza Coral Gables 138 2018 Market Studio UNK UNK
2801, 2901, 3001 Ponce De Leaon Blvd Rate 1&2
Coral Gables
(Agave Ponce, LLC)

6075 Sunset Drive Apts. 202 2018 Market Studio UNK UNK
6075 Sunset Drive Rate 1&2
South Miami
(Alta Developers)

Dadeland Apts. 420 Not Market Studio UNK Upscale


9514 South Dixie Highway Set Rate 1&2
South Miami
(Alta Developers)

Note: Some information may intentionally not be reported for confidentiality reasons.

Source: Survey of apartment developers and project managers by Reinhold P. Wolff Economic
Research, Inc.
APPENDIX F
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