Northland Investment Corporation Hartford, Connecticut

Lawrence R. Gottesdiener, CEO

From Clinically Dead to Critical Mass in 20 (short) Years

CBIA ECONOMIC SUMMIT & OUTLOOK 2006January 5, 2006

The Urban Age

• Demographics

• Economics

• Policy

U.S. population growth in the 1990s was much stronger than in previous decades

Change in Millions of Persons

1 9 8 0 - 1 9 9 0 1 9 9 0 - 2 0 0 0

3 3

0

10

5

2 2

15

2 0

2 5

1 9 6 0 - 1 9 7 0 1 9 7 0 - 1 9 8 0

3 5

2 4 2 3

3 0

Source: U.S. Census Bureau

The good news: demographic changes have led to a population surge in cities

Household growth in 50 largest cities, 1970 – 2000

-4%

0%

-2%

1980s 1990s1970s

3% 2%

13%

14%

10%

6%

2%

Source: U.S. Census Bureau

0

5

10

15

20

25

30

1970 1980 1990 2000

Share Under 18

Share 18 to 24

Share 25 to 34

Share 35 to 44

Share 45 to 64

Share Over 65

Change in Downtown Age Structure 1970 - 2000

Shar

e of

Age

Gro

up

YearSource: Analysis of U.S. Census Bureau

Knowledge Based Economy

• Cities retain important institutions in aknowledge based economy

• Cities have 60% of knowledge basedemployment

Policy

• U.S. has historically subsidized sprawlthrough the national highway system

• Governments are beginning to embracedensity to lower costs

• Communities are embracing densitythrough smart growth referenda (e.g. Blue Back Square)

• A beautiful connection to the Connecticut River and Riverfront Park

• An imminent science center

• New parking facilities

• Two downtown higher education centers

• A circular bus system

• A spectacular convention center

Revitalizing the Urban CorePhase I

Revitalizing the Urban CorePhase II

A Catalytic Developer

• Chattanooga and River Valley Company

• Hartford and Northland Investment Corporation

Housing near Hartford 21

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

Time (years)

Downtown

Suburb

Val

ue C

reat

ion/

Cash

Flo

w ($

)

Source: Christopher B. Leinberger, Arcadia Land Co. and Robert Charles Lesser & Co.

Financial Characteristics of Downtown with Critical Mass (Red) versus Suburban Development (Blue)

+

Hartford 21

Northland’s Hartford Portfolio

Metro Center CityPlace II

Northland’s Hartford Portfolio

242 Trumbull Goodwin Hotel

Northland’s Hartford Portfolio

Goodwin Square

Residential, Residential, Residential

Hartford as a Mixed Use Development

Retail / Entertainment

5%

Housing5%

Office 90%

Retail / Entertainment

20%

Housing40%Office

40%

Phase ITotal Value $1.5 Billion

Phase IITotal Value $2.5 Billion

Density MattersDensity Matters

• Most dense = most exciting (e.g. New York)

• New York density = 26,000 residents per sq. mile

• Hartford CBD = 0.2 sq. miles

• Hartford requires 5,200 residents to achieve New York density

Walk the Walk3 Phases of ResidentialWalk the Walk

Creating Walkable Urbanity

• Creation of interesting and safe streets for peopleto enjoy

• A mixture of sights and sounds that make theexperience of walking downtown new every time

• Not a means to an end but an end in and of itself

100% Corner - Before

100% Corner - After

Metro Park

100 Allyn Street

YMCA at Hartford 21

Business Improving District (BID)Business Improvement District (BID)

• Traffic calming – balance the pedestrian andvehicular experience

• Upgraded street lighting

• Landscape, signage and infrastructureimprovements

• City Ambassadors to improve actual / perceived safety

Arts & Entertainment

• Support local institutions

• Nurture our entertainment pioneers

Arena

Benefits of a New Arena

• Best in class entertainment venue for City, Region and State

• State of the art facility for UCONN teams

• Attract a CONNECTICUT hockey team

• Unclog artery in heart of City

• Create new density and urban amenities

• Build a bridge to North End