GreenWinds TriangleIdentity and Innovation for MIT and

Beyond

Alexander Knapp, Tyson Dirksen, Matthew Flowers, Junghun Choi

The Project in Summary

1 Iconic Sustainability• The Neighborhood’s Identitya

Key Program Elements • MIT Energy Center• MIT Live Arts

Great Public Spaces• The Breezeway• Live Arts Plaza• East Circle

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Iconic Sustainability Provides a Distinctive Identity “Shouts” Sustainability

Raises Awareness of Climate Change Sustainability becomes the Brand

Showcases MIT’s Technical Ingenuity Create Lasting Value for MIT and the

Wider Community through Placemaking

The MIT Energy Center• On-site Cogeneration Facility• MIT Energy Initiative Research

Lab & Testing Facility • Community Outreach and

Education Center• Interactive BIPV Façade• Adjacent to Existing Power Plant

MIT Live Arts and Live Arts Plaza

Large Multi-Function Performance Spaces

MIT Radio Station Open Every Night Attached Bar and Cafe Reference : Penn Live

An Entertainment Destination

The Breezeway

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Hotel and Conference Center Entertainment

- Live Arts & Bowling Alley Cafés, Restaurants & Bars Student Oriented Shopping

The Front Door for Greenmills Triangle

East Circle – The Office Center

A Research Destination asdfadsf

Three Major Lab/Office Buildings The MIT Energy Center East Node of the Central Spine

Access through to the MIT Campus

Program

Phasing

Phase One

Phase One

Phase Three

Phase Two

Financial ProposalKey Assumptions

• Cap Rate – 6%• Opportunity Cost of Capital – 8%• 10% Green Premium on Construction Costs

Financial Feasibility Analysis

Value by Type NPV PGSF NPVOffice 222.07 115,892,285 Retail 64.66 11,158,023 Hotel 291.91 42,004,853 R&D - Lab 230.05 121,979,594 Residential 14.90 7,220,477 Resid-Lux 123.31 43,463,665 PA Center 24.85 1,189,816 Confr Cntr 0.90 44,687 MIT 108.88 52,278,106 Resid-Sale Condos - - Parking (no indirect costs included) (40,187,563) Total (6.0% Cap Rate) 355,043,942

Deal StructurePartnership• Joint Venture between MIT IMCo and Flowappsen LLC8• Total Development Costs (Including Land) of $2,215Ms• MIT to IMCo contribute land equity of $350Ma• Developer to contribute/raise additional equity $310M

Benefit to MIT• Strong Green & High-Tech Image of MITs

• Over 53% Equity Ownerships

• Stabilized NOI of Approximately $118M per Year

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