5311 perkiomen ave - exeter township 5311 perkiomen... · homeowners, apartment residents, office...

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5311 PERKIOMEN AVE REQUEST FOR QUALIFICATIONS

5311 PERKIOMEN AVE | REQUEST FOR QUALIFICATIONS 1

In response to the Request for Qualifications to acquire and develop the 5311 Perkiomen Ave site, Realen Properties (“Realen”) is pleased to express our interest in and present our qualifications for Master Developer.

Realen is a leading commercial development and construction firm in the greater Philadelphia area. Our development strategy is centered on building with a purpose – our projects have spurred award winning levels of economic growth and created community centric neighborhoods and “downtown” environments. We prioritize the people. We focus on the end-user and what the next generations are looking for in their “live-work-play” spaces. The Village at Valley Forge development, awarded “Project of the Year” by Philadelphia Business Journal, epitomizes our modernized approach to master planning and place making.

Our plan for the redevelopment of the 5311 Perkiomen site is to create a cohesive community that balances neighborhood priorities and modern urban planning. We feel that our most recent project, The Village at Valley Forge, speaks to our expertise in the redevelopment of golf course properties into walkable, mixed-use, town centers. There is a learned balance to creating a cohesive community that works as well for the people as it does for the municipality. We believe that such a balance could exist at the 5311 Perkiomen site should a more progressive planning approach be considered.

In our opinion, the current Town Center Overlay presents certain challenges and restrictions to fulfilling the potential of the site. Based on the Village at Valley Forge as a proof of concept, it is advantageous to consider the possibilities and profitability of high-density, multi-family development. In today’s market, mid-rise multifamily development attracts two main demographics; young-professionals and empty nesters. These demographics, in turn, create highly desirable markets for best-in class retail and commercial uses, without adding pressure to schooling systems. Should the municipality see the potential in reorganizing the current development approach, we would be more than pleased to present additional research into how an epicenter, based on a smaller model of The Village at Valley Forge, would increase land value, potential retail and multi-family rents, and tax base for the township.

Based on our extensive experience with state agencies, including the Pennsylvania Department of Environmental Protection (PaDEP) and the Pennsylvania Department of Transportation (PennDOT), the design development and concept planning (initial layout, utility engineering, working with the Township…) will start immediately upon award of this exciting opportunity. Months 1-9 will be used to refine a strategy and concept master plan to meet the Township’s goals. Months 9-18 will be used to define the development parameters and to refine the utility, stormwater, highway access, and state agency permitting. In months 18-24, utility, stormwater and highway access construction will commence, and vertical development concept planning will be refined. Months 24-36 will include the vertical construction and final occupancy of the development.

Our team is committed to providing the best of our resources in order to accomplish the appropriate deliverables to develop, construct, and open a new project for Exeter Township.

Sincerely,

_____________________________

Dennis Maloomian Realen Properties President & CEO


REALEN PROPERTIES FIRM OVERVIEW Realen Properties “Realen” was founded in 1968 initially as a developer of multi-family residential apartments. Adhering to an unwavering commitment to give its customers more – more service, higher quality, and better value, Realen evolved into one of the region’s preeminent residential and commercial development and construction firms. Since then, Realen has constructed thousands of homes and apartments, creating dozens of new communities in the Delaware Valley and Greater Chicago regions. Additionally, Realen has developed and manages office buildings, parking garages, hotels and storage facilities. Realen has received numerous awards for its developments and efforts in land planning and conservation, including such prestigious designations as National Builder of the Year and Builder 100.

Today Realen continues its legacy of excellence and commitment to provide innovative, high-quality environments for its homeowners, apartment residents, office workers and shoppers alike; embracing the principals of smart growth infill development and brownfield remediation. Most recently, Realen has generated notable attention for its master development of suburban, mixed-use, epicenters. The Village at Valley Forge has received critical acclaim for its walkable community design, “live-work-play” atmosphere, and illustrates Realen’s commitment to curb suburban sprawl, preserve our precious open spaces and create responsible and sustainable developments.

TEAM OVERVIEW

Dennis Maloomian | President & Chief Executive Officer Realen was co-founded and is led by Dennis Maloomian. A forty year real estate veteran, Dennis has gained a reputation as a “visionary” and a pioneer of innovative development projects including public/private collaborations, historic renovations and large mixed-use communities. By focusing on changing societal needs, Dennis’ developments deliver a relevant and rememberable experience to the consumer. Known for seamlessly balancing investor, consumer and municipal priorities, Dennis has been able to zone and develop opportunities, otherwise deemed “impossible.” Most notably is his perseverance of creating a downtown in King of Prussia, Pennsylvania on a former under-utilized public golf course, now known as the Village at Valley Forge. The new urbanist project spans 132 acres, boasts 2,900 residential units, luxury apartments, condominiums, townhomes and senior living; 500,000 SF of main street retail and restaurants; and over 1,000,000 SF of corporate office and medical space. His commitment to community and sustainable practices is a refreshing perspective within the industry. Mr. Maloomian holds a Master of Business Administration degree from the Wharton School of the University of Pennsylvania.

Dennis Maloomian 1550 Vine Street, Philadelphia, PA 19102 610.251.5000 x 10

Paul Fry | Senior Director of Planning As the Development and Projects Manager for Realen, Paul is involved with every aspect of our developments from initial concept to construction completion. Paul has a Master of Science from Drexel University. In his career as a professional engineer, Paul has worked for engineering firm’s obtaining and designing environmental and geotechnical site criteria, was the project manager for several construction companies building hotels and casinos, and prior to joining Realen in 2004 he was an Owners Representative for the State of Connecticut in the construction of the Connecticut Convention Center, attached Hartford Marriot Downtown, along with the mixed-use Front Street district. As the project manager for The Village at Valley Forge project, Paul coordinates the extensive team of engineering, planning, consulting and architectural firms needed for an 132 acre project.


Paul Fry, P.E. 1550 Vine Street, Philadelphia, PA 19102 610.251.5000 x 24 Allison Maloomian Spitzer | Director of Research & New Development Allison serves as the Director of Research & New Development for Realen. With a specialty in financial modeling and due diligence, Allison is responsible for valuing and forecasting project financials, as well as maintaining development expectations. Allison has a Bachelor of Science in Business & Economics from Lehigh University, with a major in Finance. Prior to joining Realen in 2013, she specialized in valuation analysis and securitization for billion-dollar portfolios at PwC and underwrote real estate loans for the Institutional and Metro Markets group at Wells Fargo. In addition to overseeing new development opportunities, Allison acts as our Director of Parking Facilities. She manages our garage’s financials and day-to-day operations.

Allison Maloomian Spitzer 1550 Vine Street, Philadelphia, PA 19102 610.251.5000 x 19


RELATED EXPERIENCE THE VILLAGE AT VALLEY FORGE | KING OF PRUSSIA, PA The Village at Valley Forge is an award winning, new, life-style epicenter, situated in King of Prussia, Pennsylvania, one of the regions most dynamic locations. The site is 132 acres, strategically located at the confluence of the region’s four main highways, sits at the head of the most important suburban employment center in the region and is just 20 miles from Philadelphia. With easy access to New York, D.C. and other major east coast cities, King of Prussia has become an area of tremendous growth, investment and innovation. The site consists of 2,900 residential units, luxury apartments, condominiums, townhomes and senior living; 500,000 SF of main street retail and restaurants; and over 1,000,000 SF of corporate office and medical space. The plan for the Village at Valley Forge is significantly more urbanized than typically found in any suburban location. Catering to the changing demands of today’s consumer, The Project delivers a walkable, amenity-rich environment, similar to those found in large cities. It’s the density and proximity of residential and commercial uses, all knitted together with sidewalks and carefully placed open spaces, that result in a highly desirable environment. An alternative to Center City, it is an engaging “live-work-play” campus that promotes community connectivity and collaboration and supports what has become an important work-life balance. The Village at Valley Forge has brought King of Prussia a walkable, exciting, vibrant downtown.

Realen Properties and The Village at Valley Forge were awarded “Project of the Year” by Philadelphia Business Journal, the King of Prussia District Award for Economic Development, the Delaware Valley Smart Growth Alliance Award, and most recently, the 10,000 Friends of Pennsylvania’s 2019 Commonwealth Award. The $1.5 billion, mixed-use project, designed to promote the principles of New Urbanism, has become one of the most celebrated new developments and has since been the inspiration for new suburban, master-planned projects.

Village at Valley Forge Project Video | https://vimeo.com/316831917

https://vimeo.com/316831917


ALOFT PHILADELPHIA DOWNTOWN | PHILADELPHIA, PA Realen has a practiced history of working closely with governmental agencies to deliver functional developments which benefit both cities and their inhabitants. In the case of one of its newest developments, Realen worked alongside the City of Philadelphia and the Commonwealth of Pennsylvania to restore and repurpose the blighted and derelict Liberty Title and Trust Building. Located adjacent to the new main entrance of the Pennsylvania Convention Center, then under construction, the building had sat darkened and vandalized for nearly twenty years. At the request of both the Mayor of Philadelphia and the Governor of Pennsylvania, Realen and its partner HRI Properties collaborated with the Convention Center Authority to renovate the 21-story building and create a

boutique hotel with direct access to the Convention Center’s front entrance atrium. Evidencing its importance as an economic development initiative, the project was the recipient of Redevelopment Assistance Capital Program grant (RACP) from the Governor as well as federal and state historic tax credits and Newmarkets tax credits.

Realen received a Preservation Achievement Grand Jury Award from the Preservation Alliance for Greater Philadelphia for the Aloft Philadelphia Downtown development.


THE ISLE | MANAYUNK, PA The Isle is a Class A luxury apartment project located in the Manayunk neighborhood of Philadelphia on an extraordinary 3.1 acre riverfront site on Venice Island. Realen developed the infill project on a brownfields remediation site – the site of a former paper manufacturing plant. This project was further challenged by being situated in an active floodway. Realen, working together with FEMA, the City of Philadelphia and the Delaware River Basin Commission, conceived and implemented a flood mitigation plan which allowed the project to be permitted and safely constructed. The 156 unit complex is designed as four stories wood-framed construction over grade parking. The gated project, designed by Cope Linder Associates, has a mix of studios, one and two bedroom apartment homes with generous on-site parking and competitive urban amenities. The one of a kind site, sophisticated architecture, highly-functional unit layouts and generous resident amenities have made the The Isle an irreplaceable trophy asset.

The site is prominently located in the heart of Philadelphia’s Main Street Manayunk neighborhood with unobstructed frontage on both the Schuylkill River and Manayunk Canal. The site is in the center of one of the Philadelphia’s most exciting and eclectic shopping, restaurant and entertainment districts and is located in between the high occupancy City Line and Conshohocken office markets. The property is also just minutes from Center City Philadelphia, Interstate 76, the regional rail line, a nationally acclaimed bike and walking trail and the famed affluent Main Line suburbs. The property has and will continue to be a landmark visible from the Schuylkill Expressway to nearly 200,000 cars each day. The $65 million project was able to infuse new life into Main Street and the neighborhoods.


CONVENTION CENTER PARKING FACILITY | PHILADELPHIA, PA

Located across from the largest contiguous exhibit space in the Northeast, The Convention Center Parking Facility provides convenient parking access for visitors of The Pennsylvania Convention Center, adjacent office buildings and hotels. The 10-level, precast parking facility, hosts 540 parking spaces and 16,000 SF of ground floor retail space.

The garage boasts a unique fabric façade and utilizes such sustainable features as LED lighting, green roofs and electric vehicle charging stations.

Trader Joes chose the Convention Center Parking Facility when expanding their Philadelphia presence and opened their second store in October 2019.


EDGEWATER | PHILADELPHIA, PA Situated on a former industrial brownfield site, Edgewater is a $117 million apartment and structured parking complex on the banks of the Schuylkill River, located within a floodplain. This 290-apartment, 600-car parking project won enthusiastic neighborhood support through the use of design features sensitive to the existing community. The parking garage frontages are disguised with a façade of townhouses to animate rather than destroy the neighborhood streetscape. The project also

included an adjacent site that has been approved for a second phase of Edgewater that could involve the construction of a new 22-story building on an existing surface parking lot. That building could have an additional 240-apartments.

Residents of Edgewater enjoy a more “suburban setting” with lush landscaping, setback location, direct access to the Schuylkill River Trail and a private dog park, while maintaining the convenience of living in Center City. It is described as the “best of both worlds.”


GATEWAY PARKING FACILITY | PHILADELPHIA, PA

A private/public collaboration between Realen, the Pennsylvania Department of Transportation and the Philadelphia Parking Authority, the Gateway Parking Facility serves as a national model to relieve traffic congestion. Completed without

public funding, this 1000-car facility is the only Interceptor Parking Facility in Philadelphia and fulfills a federal mandate to accommodate traffic exiting the adjacent highway. The Parking Facility sits on the most accessible piece of real estate in Philadelphia. The facility occupies a portion of the full property – a full city block, approved for nearly 2,000,000 SF of mixed-use. Plans for further development are underway.

5311 perkiomen ave - exeter township 5311 perkiomen... · homeowners, apartment residents, office...

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