parcel 25
Transcription
parcel 25
0 4 .2 7 .1 2 CENTRAL ARTERY | TUNNEL PROJECT PARCEL 25 KNEELAND STREET | BOSTON | MA COMPONENT I : DEVELOPMENT PROPOSAL Submitted to: Massachusetts Department of Transportation Submitted by: Archstone New Development Holdings LP + Berkeley Investments, Inc. COMPONENT 1 : CONTENTS 1. PROPOSAL FORM: SCHEDULE 1 1 2. SECTION 40J DISCLOSURE STATEMENT: SCHEDULE 3 2 3. DEVELOPMENT TEAM DESCRIPTION Development Entity 5 Other Key Development Team Members 7 4. DEVELOPMENT APPROACH Building & Site Design 10 Conceptual Design Drawings 12 Program17 Community Uses & Benefits 18 Permits & Approvals 19 Schedule20 1.1 PROPOSAL FORM : RFP SCHEDULE 1 PARCEL 25 | COMPONENT 1: DEVELOPMENT PROPOSAL | PAGE 1 OF 20 2.1 SECTION 40J DISCLOSURE STATEMENT : SCHEDULE 3 PARCEL 25 | COMPONENT 1: DEVELOPMENT PROPOSAL | PAGE 2 OF 20 2.2 SECTION 40J DISCLOSURE STATEMENT : SCHEDULE 3 Ownership of Archstone New Development Holdings LP • Archstone New Development Holdings GP LLC, 0% General Partner of Archstone New Development Holdings LP • Archstone Multifamily Holdings I (Borrower-A) LP, 100% Limited Partner and 100% member of Archstone New Development Holdings GP LLC • Archstone Multifamily Holdings I (Borrower-A) GP LLC, 0% General Partner of Archstone Multifamily Holdings I (Borrower-A) LP • Archstone Multifamily Holdings I LP, 100% Limited Partner of Archstone Multifamily Holdings I (Borrower-A) LP and 100% member of Archstone Multifamily Holdings I (Borrower-A) GP LLC • Archstone Nominee LP, 100% Limited Partner of Archstone Multifamily Holdings I LP • Archstone Multifamily Holdings I LLC, 0% General Partner of Archstone Multifamily Holdings I LP • Archstone Multifamily Parallel Guarantor LLC, 100% member of Archstone Multifamily Holdings I LLC • Archstone Multifamily (GP) LLC, 0% General Partner of Archstone Nominee LP • Archstone Multifamily Principal LP, 100% Limited Partner of Archstone Nominee LP and 100% member of Archstone Multifamily (GP) LLC • Archstone Multifamily Guarantor LLC, 0.5% Limited Partner of Archstone Multifamily Principal LP • Archstone Multifamily Parallel Guarantor I LLC, 6.391% Limited Partner of Archstone Multifamily Principal LP • Archstone Multifamily Guarantor LP, 93.109% Limited Partner of Archstone Multifamily Principal LP • Archstone Multifamily (GP) LLC, 0% General Partner of Archstone Multifamily Guarantor LP • Archstone Enterprise LP, 100% (a) member of Archstone Multifamily Parallel Guarantor LLC, (b) Limited Partner of Archstone Multifamily Guarantor LP, (c) member of Archstone Multifamily Parallel Guarantor LLC, and (d) member of Archstone Multifamily Guarantor (GP) LLC. All of these entities are located at: 9200 E. Panorama Circle Englewood, Colorado 80112 PARCEL 25 | COMPONENT 1: DEVELOPMENT PROPOSAL | PAGE 3 OF 20 2.3 SECTION 40J DISCLOSURE STATEMENT : SCHEDULE 3 PARCEL 25 | COMPONENT 1: DEVELOPMENT PROPOSAL | PAGE 4 OF 20 3.1 DEVELOPMENT TEAM Development Entity A to-be-formed Joint Venture (“The Venture”) between Archstone New Development Holdings LP (“Archstone”), a Delaware limited partnership, and Berkeley Kneeland 25 LLC, a Massachusetts limited liability company (“Berkeley”). Archstone and Berkeley have executed a Letter of Intent for formation of The Venture in which they will be co-developers. The Formation Agreement will be executed if the Venture is the selected developer. The Venture pairs two experienced development teams with synergistic expertise. Archstone is a dominant national player in the multifamily housing business, and Berkeley, a Boston-based development firm with an established track record in planning, permitting and building complex mixed-use urban development projects in the greater Boston area. As co-developers, both companies will participate in the project team selections, design decisions, and anticipated financial direction of the joint venture. With feet on the ground in Boston, Berkeley has a special knowledge of and focus on Boston zoning, permitting and other entitlements, and the public realm design decisions. Archstone brings to the table their detailed knowledge of the specific apartment product (both design and construction) and financing and investment relationships. ARCHSTONE As of March 31, 2012, Archstone owned or had an ownership position in 434 communities located in the United States and Europe, representing 73,135 units, including units under construction. Since 1991, Archstone has developed or purchased properties to create an unparalleled apartment portfolio. Archstone communities allow their residents to walk to work or the park, rely on exceptional service, and enjoy spectacular views. Boston metro market holdings include Archstone Boston Common, Archstone Avenir (Boston), Archstone North Point (Cambridge), Archstone Kendall Square (Cambridge), Archstone CambridgePark, Archstone Watertown Square, Archstone Cronin’s Landing (Waltham), Archstone Bear Hill (Waltham), Archstone Quincy and Archstone Quarry Hills (also Quincy). As both the owner and operator/manager of each property, Archstone is committed to improving its portfolio every year, with every property developed or purchased. The process of continual improvement is one of the many things the company has pioneered in an industry that others have now adopted as “industry standard.” Archstone’s premier goal is to continually upgrade the quality of its portfolio. This influences all of the company’s investment decisions—from site selection and design to marketing and management—and serves as the foundation of Archstone’s success as the company consistently outperforms its peers. Archstone invests for the long term, and the level of commitment to its properties supports this approach. Archstone’s development pipeline currently includes: • 5 projects under construction ($1.1 billion, 2,014 units, 185,000 SF of retail, 515,000 SF of office); • 22 projects in short term planning ($1.7 billion, 6,200 units); and • 20 projects in long-term planning ($2.2 billion, 5,844 units). Key Archstone personnel working on the project include Lee Bloch, Vice President-Development; Joe Easley, Group Vice President-Production (Construction); and Samuel Fuller, Executive Vice President-Development. More complete company information, resumes and sample projects are included in Component III. PARCEL 25 | COMPONENT 1: DEVELOPMENT PROPOSAL | PAGE 5 OF 20 3.2 DEVELOPMENT TEAM BERKELEY INVESTMENTS, INC. Berkeley Investments, Inc. (www.berkeleyinvestments.com), is an SDO-certified 100% MinorityOwned Business Enterprise founded in 1991 and known locally particularly for its award-winning re-positioning of historic properties. Berkeley Kneeland 25 LLC, a Massachusetts limited liability company, is a property-specific affiliate of Berkeley Investments and of which Berkeley Investments is sole manager. Berkeley has acquired or developed nearly 17 million square feet of commercial office, flex, parking and multifamily assets; multifamily assets constitute about 5.3 MSF of the total. The company currently owns and manages over 2 MSF and 2,400 structured parking spaces in Boston, Waltham, Providence and Worcester. Vertically integrated, the firm has proven in-house property, asset, construction and development management capabilities. Berkeley’s portfolio is diverse in location and content. Recent projects include: Fort Point Channel Portfolio (Boston, MA) • Purchased 500,000 SF in 12 buildings, 2 parking garages, 50,000 SF of infill lots. • Managed creation of successful visioning plan. • Upgraded and sold 300,000 SF in first 2 years of ownership. • Obtained entitlements for 348/354 Congress Street and a vacant lot, and developed the awardwinning FP3 condominiums (92 units including 4 artists’ live/work, and 1 non-artist live/work, studios), Barrington Coffee, and three offerings by star Chef Barbara Lynch (Menton, Sportello and Drink). • Secured entitlements for 368 Congress Street as a Marriott-flagged, extended-stay hotel (under construction; delivery Fall, 2013). • Currently permitting 381 Congress as 44 innovative apts targeting young professionals working for Innovation District companies. Waltham Watch Factory (Waltham, MA) • Historic mixed-use project transforming a 400,000 SF historic factory into 177,000 SF of brick and beam office space (delivered 2009), and 96 apartment units (Spring 2012 delivery), with 67 more units to be delivered Summer 2013. • Secured phased entitlements, and Brownfields and historic tax credits; performed environmental clean-up; managed design, construction, and tenanting. CitySquare (Worcester, MA) • Acquired twenty acres of property in the heart of Worcester, including two office buildings, three garages, and a defunct mall. • Managed creation of the successful master plan; permitted the property to build up to another 1.0 million square feet of modern office, retail and residential space. • Secured tenant interest and designed a 214,000 SF LEED Silver regional headquarters for Unum Group. • As the City’s agent through special legislation, managed design and planning of four new public roadways and other public infrastructure improvements. • Secured over $90 million of public financing benefiting the project. • Sold half of the entitled developable land and the Unum deal to an affiliate of Hanover Insurance (2009); retained 10 acres (730,000 square feet of existing and to be developed space). For Parcel 25, Berkeley’s team will include Young K. Park, President, and Barbara Smith-Bacon, Vice President and Project Manager. Detailed firm and individual resumes are included in Component III. PARCEL 25 | COMPONENT 1: DEVELOPMENT PROPOSAL | PAGE 6 OF 20 3.3 DEVELOPMENT TEAM Other Key Development Team Members Meaningful Partnerships, Growth and Development, and Supplier Diversity Plan The Venture commits to the Meaningful Equity Partnership and Growth and Development requirements of the RFP for Parcel 25. Our commitment is evidenced top down, starting at the ownership level, by partnering an experienced international developer (Archstone) with a smaller MBE development firm (Berkeley). Given its size, the Parcel 25 venture provides Berkeley with an outstanding opportunity to work on a product type (highrise luxury apartments) with which it has not previously been involved. While all team consultants have not yet been selected, many have been; the Other Development Team Members listed below have all been secured for this project if The Venture is selected. We believe this team reflects The Venture’s joint deep commitment to forming meaningful business relationships with MBE’s and WBE’s, and nurturing opportunities for these firms. Complete firm and individual resumes, project samples, and contact information for each firm are included in Component III. Our Supplier Diversity Plan (described in narrative form for each firm below) and our Growth and Development Plan (below) outline our approach to future selections, including the contractor and subcontractors. Architectural Design—ICON architecture, inc. (WBE), and Hacin + Associates Inc. Parcel 25 design services are being provided through a strong partnership between two talented Boston firms, ICON architecture, inc. (ICON), a WBE, and Hacin + Associates Inc. (Hacin). ICON is an SDO-certified Women-Owned Business, recently ranked #68 on Boston Business Journal’s List of Massachusetts’ Top 100 Women-Led Businesses. The ICON team is led by Nancy Ludwig, FAIA, LEED AP (President), joined by Janis Mamayek, AIA, LEED AP (Principal, Director of Architecture), Richard O’Dwyer (Senior Principal), and Matthew Zyrkowski, AIA (Associate). Hacin+Associates will act as consulting design architect for Parcel 25, bringing a keen urban vision to this Gateway Parcel. The H+A team is led by founder David Hacin (Principal, and a member of the Boston Civic Design Commission), with David Tabenken (Senior Associate) and Scott Thomson (Senior Associate). ICON architecture, inc. is a Boston-based firm of 35 staff with award-winning work focused on sustainable urban development—creating new paradigms for city living in numerous transitoriented, high-rise developments. The firm’s projects mix uses—high-end market housing with workforce units, artist live/work communities with retail/office incubator environments, and mixeduse developments engaging their neighborhood edges. ICON has been responsible for the design of over 15,000 units of multifamily housing, many in Boston, with over 2,000 units currently in the permitting, design and construction pipeline. Hacin + Associates Inc. is a Boston-based architecture and design studio with a broad portfolio of award winning projects ranging from adaptive reuse to new construction, from urban design to interior design. With a practice deeply rooted in the public realm, H+A is committed to modern urbanism at all scales. The firm designs civic spaces, vibrant retail, mixed-use infill, and landmark buildings that define communities. H+A often works at the boundaries between urban districts to connect, revitalize, and build meaningful places. Landscape Architecture—Mikyoung Kim Design (M/WBE), Boston, MA Mikyoung Kim Design is an SDO-certified, Minority and Women-Owned Business Enterprise, and an award-winning international landscape architecture group whose work focuses on merging sculptural vision with the urban landscape. As principal and design director, Mikyoung Kim has brought her background in sculpture and music, as well as her design vision as a landscape architect, to the firm’s diverse work. Projects are comprised of designs that meld sustainable initiatives with urban form to develop engaging and poetic landscapes. The team includes Mikyoung Kim, Bill Madden (Senior Associate), Ryan Shubin, and Bryan Chou. PARCEL 25 | COMPONENT 1: DEVELOPMENT PROPOSAL | PAGE 7 OF 20 3.4 DEVELOPMENT TEAM Civil and Traffic—Nitsch Engineering, Inc. (WBE), Boston, MA Nitsch Engineering, a certified Women-Owned Business Enterprise founded in 1989 as a civil engineering firm, has grown into a multi-disciplinary firm with a deep understanding of how to succeed on challenging projects. The firm now also provides land surveying, traffic/transportation engineering, GIS, and planning services. Using Nitsch Engineering for both civil and traffic consulting engineering for the Parcel 25 project streamlines our team, while promoting the continued growth of this Leather District based firm. This will be The Venture team’s first experience with Nitsch Engineering for traffic/transportation services. Nitsch Engineering team members include John Schmid, Deborah Katzman, and Brad Staples (civil), and Fayssal Husseini and Jeff Bandini (traffic and transportation). Structural Engineers—LeMessurier Consultants, Cambridge, MA; and LY Consulting Engineers, Inc. (MBE), Bedford, MA A challenging high-rise project such as Parcel 25 demands an experienced, ingenious structural engineer. For that reason, The Venture has selected LeMessurier. To foster an opportunity for a smaller firm to be engaged on a project of this scale, LeMessurier has partnered with LY Consulting Engineers, Inc., a 100% MBE firm founded in 1992, for the specifications and QA/QC portions of the work. Past projects for LY Consulting Engineers include U.S. Embassy housing at various locations world-wide, new residential units for the Cambridge Housing Authority, and student residences at UMass Amherst. Key LeMessurier team members include Peter Cheever, PE (President) and Craig Blanchet, PE (Principal). Surveying—Bryant Engineers (MBE), Boston, MA Founded in 1976, Bryant Associates, Inc. is a self-certified veteran-owned small business (VOSB) and a Massachusetts SDO-certified Minority-Owned Business Enterprise providing professional consulting engineering services. The firm has accomplished major surveys for various federal, municipal and private clients. The Bryant team will be led by Gary Hamilton, PLS (Chief of Survey), whose surveying projects include the BRA Boston Convention and Exhibition Center in South Boston and a proposed 14-story residential mixed-use building in downtown Boston. MEP—Cosentini Associates, Inc., Cambridge, MA; and Fernandez Associates (MBE), Byfield, MA As with structural engineering, a 400+/- unit sustainable apartment building demands an established and creative firm to manage the design and coordination of the project mechanical, electrical and plumbing engineering. Cosentini brings a long history of experience locally and abroad, providing exposure to new techniques together with the certainty of practical functionality. Bob Leber, PE, LEED AP, Vladimir Yarmarkovich, PE, LEED AP, Michael Utera, Randall Duke, PE, LEED AP, and Anthony Petrillo will work with the Parcel 25 team. Cosentini will partner with Fernandez & Associates, an MBE fire protection engineering firm with over 16 years of experience, who will provide full service Building Code Consulting. The Fernandez team is led by Luis Fernandez, PE. 63 Larkin Road • Byfield, MA 01922 Tel: 978-499-0172 Fax: 978-465-2371 www.fernandezassoc.com Code—Rolf Jensen Associates, Boston, MA Achieving life safety in a high-rise building requires rapid egress for occupants and open access for fire fighters in an emergency situation. Mixed-use buildings with retail, residential and parking uses create the need for a special integrated approach. Rolf Jensen provides the expertise and technical talent for a safe and successful project. The Parcel 25 RJA team will include Jonathan Eisenberg, PE (Vice President) and Carl Nelson, PE (Senior Consultant). Permitting - Epsilon Associates, Maynard, MA Epsilon is a multi-disciplinary firm of engineers, environmental scientists and planners with a full range of environmental analysis, permitting and compliance services. They are regarded as the “go to” permitting firm with good reason – they get time-efficient, successful results using practical strategies. Berkeley has worked with Epsilon on numerous complex projects, including CitySquare in Worcester and varied assets in Fort Point Channel. Peggy Briggs (Managing Principal) will lead Epsilon’s Parcel 25 team. As described under Permits and Approvals, Epsilon will be supported by other consultants, such as legal, civil engineering, traffic, environmental, etc. PARCEL 25 | COMPONENT 1: DEVELOPMENT PROPOSAL | PAGE 8 OF 20 3.5 DEVELOPMENT TEAM Selected Interior Design—THEREdesign (MBE/WBE/DBE), Allston, MA THEREdesign, an MBE/WBE firm, has a 14-year history of interior architecture specialization. The firm has extensive experience in collaboration with architects and owners in developing simple, clear ideas that further the architectural concepts of the buildings being designed. For Parcel 25, THEREdesign’s interiors team will be led by Principal Katy Flammia, AIA, LEED AP, whose experience includes urban lofts, condos, and retail spaces. GROWTH AND DEVELOPMENT The Venture’s focus in forming its team, above, has been current opportunity creation and expansion of business revenue for both qualified emerging and thriving MBE’s and WBE’s. Going forward, our focus will continue to be on a high level of M/WBE diversity. While our expectation is that the actual milestones and timetables, and goals and a compliance plan, will be crafted with input from MassDOT, key impactive milestones include: 1. Pre-Construction Milestone: The construction budget forms the largest part of any development project after architecture and engineering. In our experience, it is essential to do the following: (i) craft percentage goals and guidelines for construction hiring participation, (ii) insure that those goals and guidelines become part of the bid documents for the project, and (iii) insure that all pre-qualified Massachusetts SDO-certified MBE and WBE entities are on the subcontractor bid list. Pre-construction and pre-bidding, we would reach out to community agencies and local (Boston) community groups to heighten Boston neighborhood resident awareness of the upcoming project hiring, and to union business representatives to encourage minority and women construction apprenticeship program participation and hiring. 2. Construction Reporting Milestones: During construction, there must be effective oversight of the contractor/CM, weekly tracking of workforce reports, regular site visits, and monthly meetings and monthly documentation of compliance with the goals and guidelines. At agreed intervals, invoices will be tracked to insure that MBE’s and WBE’s are actually doing the work represented. 3. Team Selection Finalization Milestone: In making each team selection, The Venture will work to insure (as it has with the initial selections) that meaningful roles are made available to qualified women and minorities on each team. In our view, this would not necessarily require new hiring, but the optimization of skill development of existing employees. In addition, The Venture would encourage each firm to offer project exposure to minority and women interns at appropriate intervals during the project duration. 4. Ongoing MBE/WBE Support Milestone: The goal of this milestone is to foster successful WBE/ MBE business relationships leading to additional future opportunities among the project partners and with others. To advance that goal, The Venture will: a. Connect team MBE’s and WBE’s to existing business support and consulting services provided by organizations such as: i. Center for Women and Enterprise (www.cweboston.org), ii. Massachusetts Minority Contractors Association (www.massmca.org), iii. Boston MBDA Center (www.mbda.gov/businesscenters/boston), and iv. SBA Boston (www.sba.gov/about-offices-content/2/3162) b. In furtherance of the foregoing, The Venture has had preliminary discussions with the the Boston Minority Business Development Agency Business Center (“Boston MBDA Center”) regarding the a Memorandum of Agreement to source pre-qualified MBE’s and WBE’s, and to work with the selected MBE’s and WBE’s already on the team to insure that the services offered by the Boston MBDA Center are available to interested MBE and WBE firms on a pro active basis to make them better business partners. c. Work through-out the project to insure that team MBE’s and WBE’s (i) are an integral part of the team and treated with respect by their project partners and colleagues, and (ii) have open lines of communication with The Venture relating to any issues arising out of partnering or engagement. PARCEL 25 | COMPONENT 1: DEVELOPMENT PROPOSAL | PAGE 9 OF 20 4.1 DEVELOPMENT APPROACH Building & Site Design Marking an important nexus between Downtown Boston and the South Bay, Chinatown, and Leather District neighborhoods, Parcel 25 sits as a distinct gateway into the city from the south. Our design integrates an iconic 24-story mixed-use building and a dynamic landscape into this unique site, responding to its challenges. This mixed-use development proposes street level retail, a major new landscaped civic plaza, 438 rental apartments with associated amenities (and including affordable units to meet the City of Boston Inclusionary Housing guidelines of 15% of market rate units), and 227 parking spaces in a multi-level underground garage accessed from Lincoln Street. Our design has been conceived to: 1. Establish a landmark gateway into the city from the south—Just as the Zakim Bridge over the Charles River captures attention traveling into Boston from the North, our design establishes a contemporary, gateway image for Boston’s southern entry. The design unveiled on approach will be a 24-story tower rising to 300’, its narrow southern face emphasizing its height and presenting a memorable graphic composition against the city skyline. The building’s architectural expression is emphatically modern, with high performance façades tailored to specific orientation and views as an icon for Boston’s sustainable agenda: • The west façade’s curtain wall extends over the roof to frame an open air rooftop terrace as a strong architectural gesture on the city skyline; frames double as sun shades on the west and south facades, then transition horizontally to artfully cover the highway below. • On the east façade, metal panels create a sinuous folding frame that defines a vertical slot of deep windows facing south, and a more solid panelized volume facing east. • A pedestrian scaled base engages the architecture of the Leather District, establishing a rhythm with masonry bays infilled with windows that, in turn, relate to the tower above. The plaza entry pavilion is light and transparent, to engage the public plaza beyond. The broad face of the tower aligns with the angle of the highway below, creating a counterpoint to the adjacent city blocks. 2. Celebrate the southern terminus of the Rose Kennedy Greenway with a broad public plaza—Creating a civic canvas for this gateway building and a graceful terminus of the Rose Kennedy Greenway, the urban landscape will not only connect the southernmost limits of the Leather District and Chinatown, but also highlight the green connection to greater Boston. Occupying the northwest corner of the site, a pedestrian-scaled, public space will accommodate programmed events, linking the Leather District and Chinatown neighborhoods. The plaza will blend hardy, urban site furnishings and pavements with softer native landscape elements, providing comfortable pedestrian spaces for gathering while simultaneously extending the strong character of the Greenway. 3. Extend the urban fabric of the Leather District along Lincoln Street—The integrated masonry and metal façades along Lincoln and Kneeland Streets align with the height of adjacent historic buildings, extending the scale, rhythm, and materials of the Leather District onto this site. A second residential entrance for both pedestrians and automobiles is located mid-block on Lincoln Street, providing PARCEL 25 | COMPONENT 1: DEVELOPMENT PROPOSAL | PAGE 10 OF 20 4.2 DEVELOPMENT APPROACH off street drop-off at a lobby mezzanine level connected to the lobby and vertical circulation and encouraging pedestrian activity along its length. 4. Create an active street wall along Kneeland Street to strengthen neighborhood connections—This new street wall lines Kneeland with active commercial space and a rich pedestrian experience. (Note that the design contemplates relocating the existing Fire Department Pump House below grade; discussions regarding this relocation will be advanced with the City at the appropriate time.) 5. Provide an artistic and memorable cover over the highway tunnel—More than a simple concrete cover, the trellis frame creates an evocative opportunity to engage iconic public art as part of the MassDOT system. The design envisions the vertical building expression wrapping into the landscape and extending the trellis-like structure over the void of the ramp, reducing noise and enhancing (transforming? Obscuring?) view to the highway. Combining color, texture, and light, this public art “cover” will be experienced in multiple ways—from the building above, at the plaza level, and along the highway below. Beyond this cover, the existing broad sidewalk along Albany Street will be landscaped as a connection to the Parcel 24 Park. (If designated, the project team will engage in conversations with the City of Boston, MassDOT, and the Federal Highway Administration and develop the design in full compliance with all CA/T Project commitments and MassDOT requirements.) Alternately, a full “cover” could be designed to provide an impervious surface – in this option, the paving and landscaping emanating from the building façade will highlight crossing paths leading to the front entry in this important urban space, and the design would alter the financial terms of the ground lease. 6. Retain a below grade connection to Parcels 26 and 27—As required by MassDOT, our design preserves access to the existing underground connector below Lincoln Street is accommodated adjacent to the Lincoln Street drop-off and entrance to the parking garage. The ramp system in the garage accesses two additional levels of parking below; and essential access for DOT vehicles to travel under Lincoln Street to Parcel 26. The proposed design assumes the completion of Phase II of the South Bay Planning Study and subsequent adoption of the PDA, which would allow for the building to have a maximum height of 300’ and FAR of 10 (current design guidelines in Article 43 of the Zoning Code limit building height to 100’ and FAR to 6). The Project Team is committed to meeting all of the Historic Considerations for Joint Development guidelines and the City of Boston’s sustainable design guidelines. Our Parcel 25 design envisions a landmark Gateway into Boston, while transforming a challenging site into an integral part of Boston’s dynamic urban fabric. Bounding neighborhoods will directly benefit from the artful re-knitting of the highway gap, and the extension of real pedestrian activity onto Kneeland, Lincoln and Albany Streets. A new civic plaza will celebrate the terminus of the Greenway, embracing a future Boston and its world-class sustainable agenda. PARCEL 25 | COMPONENT 1: DEVELOPMENT PROPOSAL | PAGE 11 OF 20 4.3 DEVELOPMENT APPROACH DESIGN CONCEPTS : Views, neighborhood connections, continuation of street wall, sustainable elements, building heights, access PARCEL 25 | COMPONENT 1: DEVELOPMENT PROPOSAL | PAGE 12 OF 20 4.4 DEVELOPMENT APPROACH LANDSCAPE CONCEPT The Parcel 25 Landscape is conceived as the civic canvas for the Boston Gateway Building, a terminus for the Rose Kennedy Greenway, and a southern gateway to the city of Boston. This urban enviornment will connect the southernmost limits of the Leather District and China Town, while also highlighting the connection to the greater landscape. The exposed roadway to the west is obscured with a canopy extension of the architecture and is conceived as an armiture for public art. This artistic expression is intended to highlight the project as a gateway. The landscape will be composed of spaces for passage and gathering while establishing an iconic civic destination for the Leather District and China Town. CHINA TOWN LEATHER DISTRICT Landscape Diagram Landscape Character PARCEL 25 | COMPONENT 1: DEVELOPMENT PROPOSAL | PAGE 13 OF 20 4.5 DEVELOPMENT APPROACH clockwise from right: locus plan indicating view locations; view along Kneeland Street from the Leather District; view along Kneeland Street from Chinatown; view from I-93 N exit PARCEL 25 | COMPONENT 1: DEVELOPMENT PROPOSAL | PAGE 14 OF 20 4.6 DEVELOPMENT APPROACH TYPICAL TOWER FLOOR TYPICAL BASE BUILDING FLOOR MEZZANINE FLOOR GROUND FLOOR PLAN TYPICAL PARKING LEVEL PARCEL 25 | COMPONENT 1: DEVELOPMENT PROPOSAL | PAGE 15 OF 20 4.7 DEVELOPMENT APPROACH PARCEL 25 | COMPONENT 1: DEVELOPMENT PROPOSAL | PAGE 16 OF 20 4.8 Mass DOT Parcel 25 UNITS Floor Level Parking (3) Parking (2) 1st (Parking(1)/Retail) Mezz. Parking 2nd 3rd 4th 5th 6th 7th 8th 9th 10th 11th 12th 13th 14th 15th 16th 17th 18th 19th 20th 21st 22nd 23rd 24th 25th Parking Residential Parking R 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 3 % DEVELOPMENT APPROACH 82 79 32 34 Parking Spaces Parking Spaces Parking Spaces Parking Spaces 26 26 26 26 26 26 26 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 438 GSF ST - 1BR - 1BR + 2BR - 3BR 3 3 3 3 3 3 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 14 14 14 14 14 14 14 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7 7 7 7 7 7 7 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 53 12.10% 226 51.60% 7 1.60% 129 29.45% 23 5.25% Spaces 227 82 79 32 34 Parking Spaces Parking Spaces Parking Spaces Parking Spaces 26 26 26 26 26 26 26 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 16 Floor Level Parking (3) Parking (2) 1st (Parking(1)/Retail) Mezz. Parking 2nd 3rd 4th 5th 6th 7th 8th 9th 10th 11th 12th 13th 14th 15th 16th 17th 18th 19th 20th 21st 22nd 23rd 24th 25th Service/M 438 0.52 Loft Levels Average NSF # Units 3 1821 Studio 607 GSF 1BR 761 14 10654 Floor Level Service/Mech. Parking 1BR+ 878 1 878 Parking (3) 0 2BR 1006 7 33,437 7042 Parking (2) 0 33,437 3BR 1184 1 1184 1st (Parking(1)/Retail) 5,715 26 14,512 21579 Mezz. Parking 0 18,452 x 7 362 0 2nd 151053 3rd 362 0 0 4th Levels Tower Average NSF 362 # Units 0 5th Studio 608 362 2 1216 0 6th 1BR 762 362 8 6096 0 0 7th 1BR+ 0 362 0 8th 0 2BR 974 362 5 4870 0 9th 3BR 1184 80 1 1184 10th 80 0 13366 80 0 16 11th x 80 0 12th 213856 80 0 13th 80 0 14th 80 0 15th 80 0 16th 80 0 17th 80 0 18th 80 0 19th 80 0 20th 80 0 21st 80 0 22nd 80 0 23rd 80 0 24th 7,821 0 25th 17,350 99,838 Retail Amenity Circulation Residential Total 0 0 0 0 33,437 0 0 0 0 33,437 3,378 9,764 258 0 33,627 NSF/Floor 0 2,593 0 0 21,045 0NSF 0 3,024 22,513 25,899 364,909 NSF 0 0 3,024 22,513 25,899 471,678 GSF** 0 0 3,024 22,513 25,899 77.36% 0 0 3,024 22,513 25,899 0 0 3,024 22,513 25,899 **Excludes Retail & Parking 0 0 3,024 22,513 25,899 0 0 3,024 22,513 Unit SF 25,899 833 Average 0 0 2,205 13,963 16,248 0 0 2,205 13,963 16,248 NSF/Floor 0 0 2,205 13,963 16,248 0NSF 0 2,205 13,963 16,248 0 0 2,205 13,963 16,248 0 0 2,205 13,963 16,248 0 0 2,205 13,963 16,248 0 0 2,205 13,963 16,248 0 0 2,205 13,963 16,248 0 0 2,205 13,963 16,248 0 0 2,205 13,963 16,248 0 0 2,205 13,963 16,248 0 0 2,205 13,963 16,248 0 0 2,205 13,963 16,248 0 0 2,205 13,963 16,248 0 0 2,205 13,963 16,248 0 1,712 2,554 0 12,087 3,378 14,069 59,260 380,999 574,894 2012-04-24--Unit Mix.xlsx GSF * FAR GSF PARCEL SF 490,670 72,440 6.77 * Excludes mechanical and below grade parking PARCEL 25 | COMPONENT 1: DEVELOPMENT PROPOSAL 364,909 471,678 NSF GSF** | PAGE 17 OF 20 5 7 17 4.9 DEVELOPMENT APPROACH Community Uses & Benefits In addition to integrating Minority and Women Business Enterprises into the project teams during the pre-development and construction phases of the project, both economic and urban benefits accrue from the Parcel 25 project. Economic benefits can be specifically quantified if The Venture is the selected Developer. ECONOMIC BENEFITS include the following: Construction Period • Direct and Indirect Employment: Direct Employment includes project-related hiring; and Indirect Employment includes less directly measurable hiring, such as workers producing construction supplies and materials, employees at food and beverage facilities feeding construction workers, etc. • Increased Income Taxes from Direct and Indirect Employment • Increased Sales Taxes on taxable building materials Post-Construction Period Benefits • Project related hiring for the residential and retail services on site • Income Tax Employment (net new or retained) • Sales Tax on retail/restaurant sales • Increasing the stock of affordable housing conforming to City guidelines • Returning a vacant parcel of land to productive use • Real Estate taxes URBAN BENEFITS Parcel 25 presents the opportunity to enhance the transformation of the South Bay area and adjacent districts through improvements that would change an area defined by transportation infrastructure into a vibrant mixed-use neighborhood, including a mix of housing options, needed neighborhood services, destination uses injecting new revenue, and meaningful community space. Bringing additional people to the area to live, work and play supports the optimal 18 hour day, enlivening and stabilizing the neighborhood and increasing local investment. Leveraging access to existing public transportation assists in limiting the impacts of additional traffic in this already congested area. Public meetings during Phase II of the South Bay Planning Study, and BRA Article 80 meetings, will help to further clarify current community concerns and what the adjacent communities’ value in terms of community space or amenities. In The Venture’s view, several key urban benefits of Parcel 25 include the following: • Creating a vibrant, pedestrian-friendly transition zone from Chinatown through the Leather District to South Station and towards the Fort Point district; • Completing the revitalization of the Leather District; • Healing the scar created by the transportation infrastructure network; • Reinforcing residential neighborhoods by creating an urban streetscape along its edges; • Providing opportunities for neighborhood service retail; • Establishing a landmark gateway to the City for commuters and visitors arriving from the South; • Establishing a logical terminus to the Greenway. and • Covering the ramp leading to the Southeast Expressway and mitigating its impact. PARCEL 25 | COMPONENT 1: DEVELOPMENT PROPOSAL | PAGE 18 OF 20 4.10 DEVELOPMENT APPROACH Permits + Approvals Entitlements generally occur in three somewhat overlapping stages: impact reviews, discretionary approvals, and construction-related permits. Layered on top of this for Parcel 25 is completion of Phase II of the South Bay Planning Study and creation of the PDA, as discussed below. Once chosen as the selected developer, The Venture will work with their consultants to prepare a comprehensive permits and approvals strategy and schedule to insure that all entitlements are secured in a time and cost-efficient manner, and that nothing is missed. This planning would include at minimum Epsilon Associates, Goulston & Storrs, ICON Architecture, Hacin+Associates, Nitsch Engineering, and our selected environmental consultant. The Venture is experienced with Boston permitting and has selected team consultants with the expertise to seek timely and practical results. Archstone and Berkeley have both previously managed entitlements for other complicated urban projects with multiple competing constituencies, including Article 80, BCDC, Board of Zoning Appeals, BWSC, BPIC, BTD, Boston Landmarks Commission, Massachusetts Historic Commission, Massport approvals, FAA, Chapter 91, MEPA/NEPA/DEP, etc. While it’s too early to prepare a schedule, samples from other projects can be provided to demonstrate facility with process. The Venture believes that the best long-term financial result for MassDOT and for the site requires the completion of Phase II of the South Bay Planning Study with an attendant increase in height and density for Parcel 25. As indicated by Peter Gori of the BRA at the MassDOT Parcel 25 meeting and site tour on February 1, 2012, the BRA appears ready to launch Phase II simultaneously with MassDOT’s selection of a developer for Parcel 25. The Venture anticipates that Phase II will take at least the eight months indicated in the South Bay Study Phase I Report to finalize the text of the South Bay District Plan. The Venture members anticipate participating actively in these meetings to glean a complete understanding of the key issues of concern. During the Phase II study, The Venture would expect to meet with the City of Boston regarding The Venture’s desired re-location on-site of what is believed to be the Boston Fire Department pumping station, and with MassDOT and others regarding the air quality and other facilities serving the highways, as both of these items will influence the final design of the project. In addition, preliminary meetings would be held with private utilities, Boston Water and Sewer, and other City departments to facilitate open communication about all issues that could impact the project design, schedule and cost. Article 80 and MEPA (including environmental, traffic, and civil studies) will be launched in parallel at the appropriate time based on the progress of the Phase II study. The Venture fully understands that this is a full MEPA process, and that the project will need to undergo Article 80 Large Project Review. Coordination with the Federal Highway Administration (FHWA) is typically initiated by MassDOT during design, however, we suggest a kickoff meeting among the Venture team members/consultants, and MassDOT and FHWA, to discuss design direction, site constraints, submittal contents, and other procedural issues. This will help to eliminate potential confusion regarding expectations, avoid wasted time, and inform all as to direction and next steps. PARCEL 25 | COMPONENT 1: DEVELOPMENT PROPOSAL | PAGE 19 OF 20 Construction Start (26‐30 mos dep on site Construction (26 ‐ 30 months total) Award Long Lead Items (Early Steel Pkg?) Bid & Award Mobilization Other Approvals Parking Freeze Utilities BWSC, Building Permit, etc FAA Approval Boston Landmarks Commission Section 106/ State Register Review MEPA (File PNF to Final Certificate Issued Boston Civic Design Commission Article 80 ‐ Large Project Review Due Diligence, env testing, survey, etc. Informal meetings with MassDOT/FHWA, BRA, BLC etc Negotiate Development Team Contracts Detailed permits and approvals schedule Traffic Study Launch Discussion re suppressing City pump station BRA South Bay Phase II Study / Re‐Zoning Design Conceptual Design Schematic Design MassDOT, FHWA reviews CM Pricing Exercise Design Development MassDOT, FHWA reviews CM Pricing Exercise Construction Documents MassDOT, FHWA reviews CM 90% Set Pricing Exercise Negotiation of Dev'mt Agmt and Grd Lease Review of site and land use constraints & refinement of preliminary development concept X X Mo 1 Mo 2 Mo 3 Mo 4 Mo 5 Mo 6 Mo 7 Mo 8 Mo 9 Mo 10 Mo 11 Mo 12 Mo 13 Mo 14 Mo 15 Mo 16 Mo 17 Mo 18 Mo 19 Mo 20 Mo 21 Mo 22 Mo 23 Mo 24 Mo 25 Mo 26 Mo 27 Mo 28 Mo 29 Mo 30 Mo 31 Mo 32 Mo 33 Mo 34 Mo 35 NOTE: This Sample Schedule is provided to illustrate activites conducive to being conducted on a parallel track; actual detailed project schedule detailed after selection; dates will vary. Developer Selection 04-25-2012 Schedule Preliminary Design, Permitting, and Construction Schedule (04/27/2012) Parcel 25 Project Preliminary Schedule of Major Items 4.11 DEVELOPMENT APPROACH PARCEL 25 | COMPONENT 1: DEVELOPMENT PROPOSAL | PAGE 20 OF 20