dnd proposal archerbonnell 2015final

U R B A N I C AARCHER/ BONELL | ROXBURY PROPOSAL

APRIL 6 2015

April 06, 2015 Sheila A. Dillon Chief and Director Department of Neighborhood Development 26 Court Street, 9th Floor Boston, MA 02108 Dear Ms. Dillon, RE: ARCHER BONELL COMMERCIAL REQUEST FOR PROPOSAL Urbanica is pleased to submit this proposal for the Archer/Bonell, Roxbury RFP. The proposal, by virtue of infilling an under-utilized empty lot in the historic neighborhood of Dudley Square in Roxbury, continues Urbanica’s leadership in transforming and creating sustainable and vibrant urban spaces. We are pleased to offer this proposal for a new, sustainable project that provides neighborhood development, job creation, enlarged tax base, and valuable MBE/WBE programs for a unique and exciting community like Roxbury. For this site, Urbanica proposes a 5-story, mixed-use development, AB Lofts by Urbanica, that includes a 23,930 square foot +/- building with 24 units of rental apartments, 1,650 square feet +/- of commercial space on the ground floor and 16 off-street parking spots. As part of the City of Boston Inclusionary Development Program, 3 units of the rental apartments will be committed as “Affordable Units” (at 70% AMI). Urbanica will explore additional funding source possibilities from the City, State and Federal subsidies programs in order to add more affordable units in the development. For the ground floor commercial space, Urbanica plans to collaborate with Discover Roxbury to create an active community events program space. Urbanica is also particularly committed to working with women and minority owned firms on this project. We are currently developing three other projects in the City of Boston that include MBE/WBE firms for design, engineering, legal, and consulting. For construction jobs, we are especially committed to hiring from the Roxbury community as well as using MBE/WBE subcontractors as part of our commitment to Boston Residents Construction Employment Standards. Urbanica has successfully completed four energy efficient townhomes as part of the Mayor’s Green Building Initiative and we will continue our commitment to the environment by incorporating similar technologies and design concepts for this project. With this project, Urbanica hopes to continue a successful track record of contributing positively to the richness of Boston’s inner city neighborhoods by consistently emphasizing a refined design aesthetic, quality workmanship and active community involvement. The Urbanica team looks forward to working collaboratively with the wide array of stakeholders during the course of this project. Thank you for considering our qualifications and proposal. Sincerely,

Kamran Zahedi Principal of Urbanica, Inc

Dudley Square, Roxbury

TABLE OF CONTENTS

INTRODUCTORY DOCUMENTS Appendix 01: Proposal Form and Price 05

Proposal Summary Introduction 10 Development Plan 11 Operational Plan 20 Developer Qualifi cation, and Experience 23 References 29 Permit/Licences 30 Community Partnership_Discovery Roxbury 31 Community Partnership_United Housing Management 32

Proposal Budget and Proforma Sources and Uses 38 Operating Pro Forma 39 Proposal Budget 40 Bank Letter of Support 42

GENERAL EVALUATION CRITERIA DOCUMENTATION Appendix 02: Statement of Proposer’s Qualifi cations Form 45 Appendix 03: Preliminary Development Budget Form 46 Appendix 04: Preliminary Operating Budget Form 48 Appendix 05: Development Timetable Form 50 Appendix 06: Construction Employment Statement Form 51 COMPLIANCE REVIEW DOCUMENTATION Appendix 07: Property Affi davit Form 53 Appendix 08: Affi davit of Eligibility Form 54 Appendix 09: Confl ict of Interest Affi davit Form 56 Appendix 10: Chapter 803 Disclosure Statement Form 57 Appendix 11: Benefi cial Interest Statement Form 58

INTRODUCTORY DOCUMENTS

URBANICA, INC ARCHER/BONELL, ROXBURY PROPOSAL 5

Appendix 01: Proposal Form and Price

6 ARCHER/BONELL, ROXBURY PROPOSAL URBANICA, INC


PROPOSAL SUMMARY


View of AB Lofts by Urbanica from Washington Street

INTRODUCTION

Urbanica is please to propose this mixed use proposal, AB Lofts, by infi lling these under-utilized empty lots at Archer and Bonell Terraces at Dudley Square in Roxbury.

This continues Urbanica’s leadership in transforming and creating sustainable and vibrant urban spaces in the City of Boston. We are pleased to make this proposal a new, sustainable project that provides neighborhood development, job creation, enlarged tax base for a unique and exciting community such as Roxbury.

Urbanica hopes to continue its successful track record of contributing positively to the richness of Boston’s inner city neighborhoods by consistently emphasizing a refi ned design aesthetic, quality workmanship and active community involvement.

The Urbanica team looks forward to working collaboratively with the wide array of stakeholders during the course of this project.

ORGANIZATIONAL STRUCTUREUrbanica, headed by Kamran Zahedi, will be the developer for the proposed development. The design and construction will be done in-house by Urbanica through its design and construction divisions.

The architect will be Urbanica Design, lead by Stephen Chung while Urbanica Construction, lead by Kamran Zahedi, will manage the construction of the proposed building. The qualifi cations of the development team members are included in the “Developer Qualifi cations, Experience and References” section.

LAWSUITSUrbanica was named one of the parties in a lawsuit in courts situated within Massachusetts within the past fi ve years. This was a suit brought on by an abutter for 691 Massachusetts Avenue for damages to the abutter’s basement fl oor during construction. The lawsuit was settled out of court.


AB Lofts by Urbanica project at Washington Street is a proposed mixed use building in Dudley Square, Roxbury, MA. The proposed building consists of 24 rental apartment units (23,930 square feet +/-), a 1,650 square feet +/- ground fl oor commercial space and 16 off-street parking spots.

As part of the Inclusionary Development Policy, 3 units of the rental apartments will be committed as “Affordable Units” at 70% AMI. Urbanica will explore additional funding source possibilities from the City, State and Federal subsidies programs in order to add more affordable units in the development.

The building is fi ve stories in height. The ground fl oor commercial space is envisioned as an active community event space that will be curated by a local community partner, Discover Roxbury in collaboration with Urbanica, to highlight the rich and diverse cultural heritage of Dudley Square and the Roxbury neighborhood.

DUDLEY SQUARE, BOSTONSpurred by the construction of the new Boston Public Schools Headquarters at the historic Ferdinand Building as well as other public-private development projects in the area like Bartlett Yard, Parcel 3, 9 and 10, Dudley Square is quickly emerging into a thriving commercial center of Roxbury.

Roxbury, often called the geographic heart of Boston and the Dudley Square area and situated less than two miles from downtown Boston, is one of the city’s most diverse neighborhoods in terms of culture, language, religion, and socio-economic backgrounds. This dynamic, urban hub has long been the historic center of African-American culture in the Commonwealth.

URBAN HUBDudley Square is also a multi-modal transportation hub, with an abundance of public transit services like 16 bus lines and the Rapid Transit Silver line, connecting the area to Downtown Boston, Logan International Airport, and other neighboring towns including Cambridge and Brookline. The commercial space planned for AB Lofts will be well connected to a wider network of economic and cultural activities within the region.

RIXBURY RENAISSANCE Our proposed project will bring vital energy and activity to the street level by providing a venue for community programming that will be curated by a local community group, Discover Roxbury in collaboration with Urbanica.

The ground fl oor open plan layout will be designed as a fl exible event space for exhibitions, meetings, workshops or performances. The ground fl oor commercial space will also include storage, administrative offi ces, and common amenities for the building’s tenants.

The space will be ideal for fostering interaction within the community and a catalyst for greater grassroots endevors and sustainable economic development in the neighborhood.

DEVELOPMENT PLAN


BARTLETT YARD

HURLEYWIRE & CABLE

Was

hing

ton

Stre

et

Bartlett Street

Dudley Street

Kenilworth

Street

Archer Terrace

Bonne

ll Ter

race

AERIAL MAP

ARCHER/BONELL

Location of AB Lofts in relationship with Dudley Square and its landmarks


DUDLEY SQUARE PLAZA

BOSTON PUBLIC LIBRARY

(DUDLEY SQ BRANCH)

DUDLEY STATION

Washington Street

Malcolm X Boulevard

Dudley Street

BOSTON POLICE

DEPARTMENT


Dillaway School, Present Day Schoolhouse Kenilworth Williams Apartments Bromley Atlas of the City of Boston, 1899

DEVELOPMENT PLAN

Street Elevation of AB Lofts by Urbanica in context with Schoolhouse Kenilworth Williams Apartments (Dillaway School)


The AB Lofts Building by Urbanica looks to the scale and texture of the local context for its design inspiration. The immediate building context is made up of a mix of single-story industrial buildings and some mid-sized institutional uses such as the former Dillaway School (present Schoolhouse Kenilworth Williams Apartments). Based on the historic Bromley Atlas map from 1899, the pre-existing building was a rectangular 4-quadrant type building situated within the larger of the two plots [Plots 0903168000 and 0903169000]. AB Lofts follow closely the planning of the pre-existing building.

The AB Lofts building also refl ects the dimension and vertical proportion of an end wing of the former school building. Though the overall massing of the building is cubic, the proposed building is broken into two smaller scaled wings to achieve this look. In addition to refl ecting the overall massing of the former school building, the AB Lofts Building window pattern and exterior color reinterprets the existing façade material palette.

The other main design infl uence for our project comes from the mix of industrial and residential buildings that characterizes the neighborhood. We interpret this program mix as having the potential for an emerging arts district. In fact, many successful arts districts begin as industrial areas which are later adapted to new uses. Artists and creative professionals are drawn to buildings with large, open spaces at relatively affordable costs. This part of Roxbury seems poised to undergo this kind of transformation by drawing upon the rich cultural and artistic heritage of the area.

To this end, we envision the AB Lofts Building as a catalyst to a rapidly redeveloping area. Though our proposed building is not large, as one the fi rst of many more buildings to come, it can set the stage for future development with its progressive, contextually-driven design and its functional programming. Moreover, the building will be a model for energy-effi cient design and will be LEED-certifi able.

Following Urbanica’s track record of creating quality buildings, the building construction techniques and materials will be of good quality and take advantage of the good building practices that Urbanica learnt from the E+ (Energy positive) building prototype by minimizing energy consumption and using sustainable and green techniques.

The AB Lofts Building consists of four fl oors of open, loft-style residential units sitting on top of an inviting, transparent commercial base. The ground fl oor space will be occupied with a community-oriented arts and cultural space for the neighborhood, curated by Discover Roxbury in collaboration with Urbanica. Unlike most gallery spaces where the art is contained within its interior walls, we envision custom, large scale murals created by local artists to be integrated into the otherwise blank walls of the main building. These large scale pieces will telegraph the importance of the local artist community in this building and to the area.

DEVELOPMENT PLAN


DEVELOPMENT PLAN

Birds Eye View of AB Lofts by Urbanica

Birds Eye View of AB Lofts by Urbanica


DEVELOPMENT PLAN

PARCEL IDs0903168000090316900009031710000903172000090317300009031740000903175000

COMBINED LOT SIZE14,037 sf

Parking16 spots

SCALE 1/32” : 1’-0”Site Plan


DEVELOPMENT PLAN

Residential - Common Area

Commercial Space

Outdoor Patio

Commercial1650 sf

Lobby400 sf

Mech230 sf

SCALE 1/32” : 1’-0”

Residential - Common Area

Residential - Studio

Residential - 1 Bedroom

Residential - 2 Bedrooms

1 BR730 sf

Studio570 sf

1 BR770 sf

1 BR690 sf

Studio560 sf

2 BR900 sf

SCALE 1/32” : 1’-0”

Ground Floor Plan

Typical Upper Floor Plan (2nd to 5th Floors)


DEVELOPMENT PLAN

View of AB Lofts by Urbanica from Washington Street

Street Presence of Ground Floor Commercial Space at AB Lofts by Urbanica


OPERATIONAL PLAN

Urbanica 100 Chelsea Resident’s Art Gallery

Discover Roxbury Black and White Party and ExhibitionImage Credit: Discover Roxbury

Union Housing Management, LLC


OPERATIONAL PLAN

AB Lofts by Urbanica will consist of three major components: a ground fl oor commercial space, four levels of rental apartments (24 dwelling units) and 16 off-street parking spaces.

NON-PROFIT SPACEThe ground fl oor commercial space of the AB Lofts by Urbanica is envisioned as a venue for the building residents, general public, local students and employees to meet and work in an environment that features interactive programming curated and managed by Urbanica in collaboration with a Roxbury-based arts organization, Discover Roxbury [www.discoverroxbury.org].

As a precedent, Urbanica has executed this operational model with great success in collaboration with the condominium association of Urbanica 100 Lofts at 100 Pearl Street, Chelsea.

Examples of some of the activities include:• An art gallery with regular exhibitions• Musical performances by local groups• Public work-bar for entrepreneurs• Workshop teaching space hosted by local artists

With the anticipated arrival of about 500-plus employees of the Boston Public School Administration in early 2015, Dudley Square is poised to re-emerge as a thriving retail and residential community. Located on the southern edge of Dudley Square, AB Lofts by Urbanica will be home to dozens of people at one of the gateways into Dudley Square.

Programming such a highly visible ground fl oor location with a variety of services will enliven the storefront space and the surrounding streetscape. Additionally, the interactive nature of the activities will provide the building’s tenants and area residents, students, and employees with opportunities to engage with opportunities to build community.

The programming at the venue will respond and adapt to the evolving needs of the community by incorporating work-related events (meetings, trainings, exhibitions) and entertainment-related ones (receptions, exhibition openings, skill-building workshops, performances).

BUILDING MANAGEMENTThe 24 rental apartment units on the second to fi fth fl oors will be managed by residential property management company, United Housing Management, LLC located in Dorchester, MA.

Founded in 2003, United Housing Management (UHM), LLC, an award winning company, provides professional residential property management for over 12 years. To date, they oversee the management of over 1400-units of rental housing in the neighborhoods of Roxbury, North Dorchester and the South End. Many of their residents benefi t from Section 8 rental subsidy program and many of the units are qualifi ed under the federal low-income housing tax credit to facilitate fi nancing and rehabilitation.

UHM is expertly managed by an experienced multicultural, multi-lingual team that is strongly committed to the mission of creating and preserving housing that will remain affordable for families. UHM believes that making the community a better place is an important component of affordable housing. UHM supports residents with resources they need to be good neighbors and members of the greater community.

A more detailed company profi le/qualifi cations and letter of interest from UHM is included in the “Community Partners: Building Manager” section.

DEVELOPMENT TEAM


DEVELOPER QUALIFICATIONS AND EXPERIENCE

U R B A N I C AURBANICA is a design/development company specializing in the transformation of under-utilized buildings and sites into extraordinary living and working spaces in the metro-Boston area.

We see each project as a unique opportunity to enhance the social, economic and aesthetic conditions of the local environment. With our design-oriented focus, we believe that uncompromising progressive design is a critical component in this equation.

“…DIFFERENTIATION BY DESIGN…”

Specifi cally, our work involves the reuse of a historic structures and challenging urban sites. We seek to infuse these buildings and places with a new life and purpose.

Urbanica has an outstanding track record of successfully completed projects in both public and private ventures. Most recently, Urbanica has focused efforts on Request for Proposals of Boston Redevelopment Authority (BRA) owned historic buildings. Urbanica recently fi nished building several publically awarded projects, a former police station in Somerville, the former Area D4 police station in Boston’s South End, and the Engine 1 Fire Station in Belmont as well as the fi rst LEED Platinum certifi ed Energy Positive Townhouses in the City of Boston.

Urbanica has also successfully completed many Boston Redevelopment Authority (BRA) sponsored projects: a loft building conversion in the Souh End and the conversion of a warehouse into the Harborside Inn on State Street in Boston.



The President of Urbanica is Kamran Zahedi. Over the past twenty fi ve years, Kamran has designed, developed and built many projects in metropolitan Boston. More recently, he has focused his efforts on RFPs of city-owned historic buildings and converting them into new residential uses.

To each venture, Kamran brings a passion for urban form, progressive design, and a respect for the existing context. Kamran received his B.S. in Architecture and Civil Engineering from MIT in 1980, and a Certifi cate of Achievement from the Center for Real Estate, also from MIT.

EDUCATIONB.S. in Architecture and Civil Engineering from MIT, 1980Certifi cation, Center for Real Estate, MIT, 1991Licensed Construction Supervisor, Boston, MA

EXPERIENCEPresident of Urbanica, 2001-presentPresident of Built Form Development, Design and Construction, 1981-1996President of Turnkey Development, Inc., 1996-presentGeneral Partner for various real estate partnerships since 1993Former Faculty at the Boston Architectural Center, 1986Membership in BSA, ASCE, NTHP

KAMRAN ZAHEDIPresident and Managing Principal of Urbanica Inc



Melnea Hotel + Residences is a mixed use development for Parcel 9 at Melnea Cass Boulevard and Washington Street in Boston, MA. This exciting project will serve as an iconic gateway for the Roxbury and Dudley Square areas, connecting to the South End and the greater metropolitan Boston region. The project consists of ground fl oor commercial and 50 units of mixed income housing. The anchor of the project will be a 108-room hotel. The project will be a source of permanent job generation for the neighborhood as well as a buzz of urban activities. The goal of the project is to create a diverse and balanced neighborhood with sustainable and green strategies.

MELNEA HOTEL + RESIDENCESMelnea Cass Boulevard, Dudley Square, Boston, MA (Planning)

PARCEL U, FOREST HILLS Hyde Park Avenue, Jamaica Plain, Boston, MA (Permitting and Approvals, Construction Start 2015)

The mixed use project in the hip and vibrant neighborhood of Forest Hills, continues Urbanica’s practice of invigorating neighborhoods by redeveloping underutilized sites - in this case, by the Massachusetts Bay Transit Authority (MBTA). For this project, Urbanica is proposing 124+/- units of housing, some commercial space and community room to benefi t the neighborhood and residents. This project is envisioned as creating a 21st-century transit oriented and energy effi cient community.



This project involved the conversion of former D-4 police station into a new luxury condominium building with twenty fi ve units. The existing shell was restored to its former state with only minor modifi cations on the principal elevations. The rear elevation consists of a new two-story block which taken together with the existing building envelope, forms a courtyard. The new courtyard is covered with a glass roof and conform to green building concepts. This project was awarded to Urbanica in response to an RFP sponsored by the BRA in 2003. Urbanica was selected over some of the most prominent developers in the city largely based on their growing reputation as “one of the top design/development companies in Boston.”

D4 SOUTH END 7 Warren Avenue, Boston, MA (2006)

six9one Residences is one of the last new-built developments in South End, Boston, with approximately 45,000 sqft of space including the basement garage. There are 40 residential units, ranging from 550 sf to 1,800 sf with unit types including studio, one bedroom and two bedrooms residences. There are also 30 deeded parking spaces available. Ground fl oor units are proposed as Small Offi ce Home Offi ce or “SoHo” units, taking advantage of the easy street access. These six fi rst fl oor units are intended to attract professionals with a home offi ce, or artists who would like to house a small gallery.

SIX9ONE RESIDENCES691 Massachusetts Avenue, South End, Boston, MA (2011)



226-232 HIGHLAND STREET226-232 Highland Street, Roxbury, Boston, MA (2013)

The project was conceived as a replicable prototype of effi cient and sustainable residential construction for the city of Boston. The building consists of four three bedroom townhouses, approximately 2,000 sf each. Sited on a currently vacant parcel in a vibrant urban neighborhood, the proposal will fi ll and densify the current neighborhood fabric. The building form and orientation serve to maximize natural daylight and solar gain for the photovoltaic array that will generate more electricity than is needed. Our approach includes two major strategies for energy reduction: fi rst, a super insulated envelope minimizes heat transfer without relying on mechanical conditioning techniques; second, a feedback mechanism provides information and prompts to users in the house regarding their energy-related activity.

The project is a public-private partnership between Urbanica and Boston Housing Authority. It is part of a series of energy effi cient townhouses to be built in the Fort Hill/Highland Park neighborhood. The building consists of 7 units of townhouses.These units will be three bedroom units. Sited on a currently vacant parcel in a vibrant corner in the urban Roxbury neighborhood, the proposal will fi ll in and densify the current neighborhood fabric. The project will follow best practices learned from the E+ prototype by offering energy effi cient design.

74 HIGHLAND STREET74 Highland Street, Roxbury, Boston, MA (2015)



URBANICA 100 CHELSEA100 Pearl Street, Chealsea, MA (2002)

The project is a renovation of an existing warehouse building into twenty two artist lofts. There is also a ground fl oor art gallery and outdoor sculpture court. A continuous metal plane was used to cut into the existing warehouse building. The metal was used throughout to express the creation of the art related programs such as the gallery, studios and sculpture court. In contrast, the loft living spaces were left purposefully raw to encourage the artist residents to build out their own spaces. The development of this project has helped to revive a very depressed urban area of Chelsea.

URBANICA 50 SOMERVILLE50 Bow Street , Somerville, MA (2005)

This project was awarded to Urbanica in response to an RFP in 2003. Urbanica was selected by the City of Somerville, in large part because of their experience in restoring and renovating historic buildings. The project is a renovation of a former police station into a fourteen unit residential building. Part of the work included rebuilding the mansard roof that was lost to a fi re decades ago. The scope of exterior work also involved restoring the fi ne detail and character of the historic building. In contrast to the traditional exterior, the interior is characterized by open, light fi lled modern spaces. Here, a rich palette of natural materials such as mahogany wood and honed stone fi nishes was used to create the units


REFERENCES

REFERENCE NO. 1

Principal Contact : Henri Soucy, Vice President and Team LeaderOrganization : Brookline BankAddress : 131 Clarendon Street, P.O. Box 179179, Boston, MA 02117Email Address : [email protected] Number : 617.309.6595

REFERENCE NO. 2

Principal Contact : Harry Collings, (Former) Executive Directory and SecretaryOrganization : (Former) Boston Redevelopment Authority (BRA)Address : 10 Derne Street, Boston, MA 02114Email Address : [email protected] Number : 617.236.1175

REFERENCE NO. 3

Principal Contact : Maria Faria, (Retired) Assistant Director of HousingOrganization : (Former) Boston Redevelopment Authority (BRA)Address : 145 Englewood Avenue, Apt 23, Brighton, MA 02135Email Address : [email protected] Number : 857.225.2024


PERMITS/LICENCES

BUSINESS LICENCESWe do not anticipate the need for any special business licenses at this time.

PERMITSBelow are the permits and approvals that are anticipated to be required for the development.

>> DEPARTMENT OF NEIGHBORHOOD DEVELOPMENT Developer Designation/Land Disposition

>> BOSTON REDEVELOPMENT AUTHORITY Article 80 Small Project Review

>> BOSTON ZONING COMMISSION Use and Dimensional Variances

>> BOSTON WATER AND SEWER COMMISSION Site Plan Approval Water and Sewer Connection Permit

>> BOSTON TRANSPORTATION DEPARTMENT Construction Management Plan (if required)

>> BOSTON INSPECTIONAL SERVICES DEPARTMENT Review/Compliance of State Building Code Building Permit Certifi cate of Occupancy

>> BOSTON PUBLIC WORKS DEPARTMENT Curb Cut Improvements

DISCLAIMER: Other permits and approvals may be applicable depending on fi nal program and occupancy.


COMMUNITY PARTNERSHIP_DISCOVER ROXBURY

Discover Roxbury is an artist-run organization that promotes civic engagement and economic development in Roxbury through tours and events which leverage the community’s artistic, cultural, historic, and culinary assets.

A growing part of Discover Roxbury’s work is the ArtROX! Series. The ArtROX! features tours and events that highlight and promote the visual, performing, culinary, and literary arts in Roxbury. ArtROX! programming is generated by Discover Roxbury in partnership with local and citywide organizations, including museums, universities, civic groups, park advocates, Main Street districts, and the City of Boston.

For more information, visit www.discoverroxbury.org

Various Discover Roxbury Community EventsImage Credit: Discover Roxbury


COMMUNITY PARTNERSHIP_UNITED HOUSING MANAGEMENT

PROPOSAL BUDGET AND PROFORMA


SOURCES AND USES

TOTAL USES $/gsf $/UnitLand Value 420,000$ 7.1% 18.56$ 17,500$Hard Costs 4,395,878$ 74.7% 194.25$ 183,162$Soft Costs 359,495$ 6.1% 15.89$ 14,979$Financing Costs 251,516$ 4.3% 11.11$ 10,480$Reserves 20,000$ 0.3% 0.88$ 833$Development Fee 325,000$ 5.5% 14.36$ 13,542$Project Contingency 115,438$ 2.0% 5.10$ 4,810$

5,887,326$ 100.0% 260.16$ 245,305$

TOTAL SOURCESDebt 4,400,298$ 74.7%Equity Sponsor 200,000$ 3.4%Equity Investor 1,287,028$ 21.9%Equity Total 1,487,028$ 25.3%

Total Sources 5,887,326$


OPERATING PROFORMA

1 2 3 4 5INCOME RESIDENTIAL + RETAILINCOME RESIDENTIAL + RETAILResidential Income 552,456$ 580,079$ 609,083$ 639,537$ 658,723$Commercial Income $ $ $ $ $Vacancy 5% vacancy (27,623)$ (29,004)$ (30,454)$ (31,977)$ (32,936)$Effective Gross Income 524,833$ 551,075$ 578,629$ 607,560$ 625,787$

ExpensesAdministrative Expenses 6,250$ 6,406$ 6,566$ 6,731$ 6,899$Management Fee 5% 26,242$ 27,554$ 28,931$ 30,378$ 31,289$Maintenance Expenses 37,980$ 38,930$ 39,903$ 40,900$ 41,923$Utilities Expenses 32,500$ 33,313$ 34,145$ 34,999$ 35,874$Security Expense $ $ $ $ $Taxes & Insurance 43,268$ 44,350$ 45,458$ 46,595$ 47,760$Operating Expenses & Taxes 146,240$ 150,552$ 155,004$ 159,603$ 163,745$

$6,093 unit $6,273 unit $6,459 unit $6,650 unit $6,823 unit

Net Operating Income 378,594$ 400,523$ 423,624$ 447,957$ 462,042$Residential Op Margin 72.1% 72.7% 73.2% 73.7% 73.8%


PROJECT BUDGET

PROJECT BUDGET TotalSquare Footage 22,630 gsfUnits 24

LAND COST Total Cost $/gsf $/unit

Land Cost 420,000$Total Land Cost 420,000$ 18.56$ 17,500$

HARD COSTS Total Cost $/gsf $/unitSoil Remediation $0Residental $4,186,550Construction Contingency 5% $209,328

Total Hard Costs 4,395,878$ 194.25$ 183,162$

SOFT COSTS Total Cost $/gsf $/unitAcquisition Cost

Proposal Costs to BRA $20,000

Design, Environmental, PermittingArchitecture $131,876MEP + FP $40,000Building Envelope Consultant $0Structural $40,000Environmental Testing & MCP Reporting $7,500Soil Characterization $0Geotechnical $5,000Green Building and Modeling/LEED/HERS rating $10,000Code Consultant $5,000Survey $3,000Civil Engineer $10,000Landscape Design $7,500Transportation Consultant $0Diversity Consultant $0Construction Clerk $0Reimbursables $10,000Preconstruction Estimator $2,000Accounting $2,500

Total Design, Envir, Permitting

Legal/InsuranceGeneral Legal $0Entity Set Up / Fundraising $15,000Title/other closing costs $17,000Environmental Legal $0Builders Risk Insurance $6,000Financing Legal $10,000

Total Legal/Insurance $48,000

Property Taxes (Pre Operations) $0

Soft Cost Contingency 5% $17,119

TOTAL SOFT COSTS 359,495$ 15.89$ 14,979$


PROJECT BUDGET (CONTINUED)

FINANCING COSTS & FEES Total Cost $/gsf $/unitMortgage Financing

Construction interest 5.0% $214,515Bank Fee 0.5% $22,001Bank Engineer $10,000Bank Appraisal $5,000Other Costs $0

TOTAL FINANCING COSTS 251,516$ 11.11$ 10,480$

RESERVES Total Cost $/gsf $/unit

Net Expenses during lease up $20,000

RESERVES 20,000$ 0.88$ 833$

DEVELOPER COSTS Total Cost $/gsf $/unitDevelopment Management Fee 200,000$Design Fee 75,000$Asset Management Fee 50,000$

TOTAL DEVELOPER COSTS 325,000$ 14.36$ 13,542$

CONTINGENCY 2.0% 115,438$ 5.10$ 4,810$

TOTAL PROJECT COST: 5,887,326$ 260.16$ 245,305$


BANK LETTER OF SUPPORT

GENERAL EVALUATION CRITERIA DOCUMENTATION


Appendix 02: Statement of Proposer’s Qualifi cations Form


PRELIMINARY DEVELOPMENT BUDGET FORM

PROPOSER’S NAME:_______________________________________

Complete this Preliminary Development Budget or you may substitute another form that provides substantially equivalent information. Note: Total of Uses of Funds should equal Total of Sources of Funds.

USES OF FUNDING AMOUNT

Acquisition - Land $

Site Prep/Environmental $

Construction $

Construction Contingency $

Architect(s) and Engineer(s) $

Development Consultant $

Survey and Permits $

Legal $

Title and Recording $

Real Estate Taxes $

Insurance $

Construction Loan Interest $

Construction Inspection Fees $

Other: $

Other: $

Other: $

Other: $

Other: $

Soft Cost Contingency $

Developer Overhead $

Developer Fee $

TOTAL: ALL USES $

NOTE: A DETAILED PRO FORMA SOURCES AND USES OF FUNDS IS INCLUDED IN THIS

PROPOSAL UNDER A SEPARATE SECTION - "PROPOSAL BUDGET AND PROFORMA"

URBANICA, INC

0.00

Appendix 03: Preliminary Development Budget Form


If any of the above-listed funding sources are already in hand or have been committed subject to designation/conveyance by DND, check off the right-hand box under “Committed”.

SOURCES OF FUNDING AMOUNT Committed

Sponsor Cash In Hand $

Additional Sponsor Fundraising $

Philanthropic Funding $

Philanthropic Funding $

Bank Loans $

Donated Materials/Services:

Other: $

Other: $

TOTAL ALL SOURCES: $

Explanatory notes:

A DETAILED PRO FORMA SOURCES AND USES OF FUNDS IS INCLUDED IN THIS PROPOSAL UNDERA SEPARATE SECTION - "PROPOSAL BUDGET AND PROFORMA"

0.00

Appendix 03: Preliminary Development Budget Form


PRELIMINARY OPERATING BUDGET FORM

PROPOSER’S NAME:_______________________________________

Provide a Preliminary Operating Budget on the form provided below. You may substitute another form that provides substantially equivalent information.

SOURCES OF FUNDS: ANNUAL OPERATING INCOME AMOUNT Committed $ $ $ $ $ $ $ $ $ $ $

ANNUAL OPERATING INCOME: ALL SOURCES $ If any of the above-listed funding sources are already in hand or have been committed subject to completion of the new facility, check off the right-hand box under “Committed”.

USES OF FUNDS: ANNUAL OPERATING COSTS AMOUNT $

$ $ $ $ $ $ $ $ $ $

$ $ $

$ ANNUAL OPERATING COSTS: ALL SOURCES $

Continued on next page

NOTE: A DETAILED OPERATING BUDGET IS INCLUDED IN THIS PROPOSAL UNDER A

SEPARATE SECTION

URBANICA, INC

0.00

0.00

Appendix 04: Preliminary Operating Budget Form


Explanatory notes:

A DETAILED PRO FORMA OPERATING BUDGET IS INCLUDED IN THIS PROPOSAL UNDER ASEPARATE SECTION

Appendix 04: Preliminary Operating Budget Form


DEVELOPMENT TIMETABLE

PROPOSER’S NAME:_______________________________________

Assuming that you are designated on , indicate below your target dates for achieving these key development milestones.

MILESTONE DATE

Designs Complete

Apply for Permit(s)

Zoning Relief Anticipated?

YES

NO

All Development Financing Committed

Permit(s) Issued

Financing Closed

Construction Begins

Construction Complete

URBANICA, INC

January 2016

February 2016

March 2016

June 2016

June 2016

June 2016

September 2017

✔

JUNE 1, 2015

Appendix 05: Development Timetable Form


CONSTRUCTION EMPLOYMENT STATEMENT

PROPOSER’S NAME:_______________________________________

How many full time employees does your firm currently have? Under 25 25 -99 100 or more

Are you a Boston-based business? YES NO Boston Based: where the principal place of business and/or the primary residence of the

Proposer is in the City of Boston.

Are you a Minority-owned Business Enterprise? YES NO

If yes, are you certified as such by the State Office of Minority and Women Business Assistance (SOMBWA)? YES NO

Are you a Woman-owned Business Enterprise? YES NO

If yes, are you certified as such by the State Office of Minority and Women Business Assistance (SOMBWA)? YES NO

RESIDENT, MINORITY AND FEMALE CONSTRUCTION EMPLOYMENT

DND encourages MIHI builders to seek to achieve the following construction employment goals: Boston Residents 50% of project hours

Minority 25% of project hours Female 10% of project hours These are targets, not requirements, but proposals that provide better evidence of their ability to achieve these targets will be more highly ranked. Explain what actions you will undertake to promote employment of these groups:

If you have additional information demonstrating your capacity to achieve these employment targets, you may provide this information on a separate sheet clearly labeled at the top with “Supplementary Construction Employment Statement” and the Proposer’s name. Note: if you are, according the US Dept. of Housing & Urban Development, a Section 3 certified vendor, this will be considered strong evidence of capacity to achieve DND’s employment goals.

If you have completed any development projects in the last five years that have required employment reporting through the City’s Office of Jobs & Community Services, please list the most recent here: _________________________________ _______________________

URBANICA, INC

N/A

URBANICA IS COMMITTED TO ACHIEVING THE BOSTON RESIDENTS, MINORITY AND FEMALE CONSTRUCTIONHIRING GOALS. URBANICA IS EXPERIENCED IN IDENTIFYING, TRAINING AND HIRING FROM THE COMMUNITY INOUR PAST AND CURRENT PROJECTS, INCLUDING PARCEL 9: MELNEA HOTEL & RESIDENCES, PARCEL U,226-232 HIGHLAND STREET AND 74 HIGHLAND STREET.

Appendix 06: Construction Employment Statement Form

COMPLIANCE REVIEW DOCUMENTATION


Appendix 07: Property Affi davit Form


Appendix 08: Affi davit of Eligiblity Form


Appendix 09: Confl ict of Interest Affi davit Form


Appendix 10: Chapter 803 Disclosure Statement Form


Appendix 11: Benefi cial Interest Statement

142 Berkeley St, Suite 402Boston, MA 02116

T. 617.654.8900F. 617.654.8901

U R B A N I C A

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