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TRANSCRIPT
TALLYN RIDGE DEVELOPMENT PROJECT PROPOSAL
UNIVERSITY OF MASSACHUSETTS AMHERST, FOUR-YEAR PROGRAM
RCMC JANUARY 2016
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CONTENTS
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UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
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PROJECT OVERVIEW
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UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Cover Le�er
Minutemen Construc4on is a cu6ng edge project
management and development company that achieves the
highest quality produc4on within the residen4al construc4on
industry. Based in Amherst, MassachuseDs, our team prides
itself in professionalism and quality of work, and consists of
the industry’s top engineers, architects, project managers,
sustainability consultants, and financial advisors. We set
ourselves apart from the compe44on by thoroughly evalua4ng
the feasibility of all projects we develop, ensuring a successful
venture for all par4es involved.
Every member of the team is fully involved throughout the en4re project, which minimizes mistakes and allows for quick
resolu4on of issues. We ensure that all of our jobs are completed at the highest quality, and is always presented to our
clients at its best.
PROJECT OVERVIEW
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UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Le�er of Intent
Dear Minutemen Group Execu4ve Branch,
Our team encourages you to consider our proposal that could poten4ally be your next greatest investment. The following
documents are a thoroughly developed feasibility evalua4on of a 147 +/- acre residen4al development located in Frederick County,
Maryland.
Our team consists of numerous business professionals, construc4on managers, engineers, and architects that have worked
to present you with a detailed and accurate presenta4on of your greatest poten4al investment. Analysis of the surrounding area,
target demographics, and local housing market aDest to our development proposal being a highly profitable
investment.
The current designa4on of the land is known as Tallyn Ridge, and is located aDrac4vely amongst the Pinecliff Regional Park.
The site is close enough to the metropolitan ci4es of Bal4more and Washington D.C. to allow residents to commute to work, while
living in a suburban se6ng. Our development consists of 441 residen4al units, and there are a variety of different types of units in
order to aDract all demographics of the target market. The home types include a 1400 square foot coDage, a 2400 square foot
townhouse, a 2600 square foot single family, or a 3600 square foot estate. Units such as the coDage and the townhouse may be an
alluring choice for young singles or couples looking to move outside of the city and poten4ally start a family, while s4ll being able to
commute to work.
The Tallyn Ridge development is more than just a typical residen4al construc4on project. Our team believes this project is
a necessary addi4on to the greater Bal4more and Washington D.C. areas. Both ci4es are in need of suburban areas that are suitable
to raise a family in, while s4ll having direct access to the ci4es. Many people seek to move out of ci4es in order to start a family,
re4re, or even just in search of a more serene environment. We believe that the addi4on of a large, suburban residen4al
community with living areas available for all demographics will be an immediate draw for people working in Bal4more and
Washington D.C.. Binding the variety of residen4al op4ons and business opportunity, Tallyn Ridge is guaranteed to be an extremely
profitable investment.
We are thrilled to share our proposal with you because of the strong return on investment. The Tallyn Ridge Development
would involve a long term investment strategy since the payoff would be seen aTer the construc4on is complete (approximately 6
years). It is es4mated that aTer 20 years from when construc4on is started, Minutemen Construc4on will see a total revenue of
about $209,695,676.
Our team is apprecia4ve of this opportunity, and thank you for taking the 4me to review our proposal. We hope our
development finds you well, as we also look forward to presen4ng our proposal in person at the Interna4onal Builders Show.
Sincerely,
Project Manager
Minutemen Construc4on Group
PROJECT OVERVIEW
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UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
The Minutemen Team
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PROJECT OVERVIEW
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UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Our Mission
“Throughout the process of planning and
construc�ng residen�al developments, we strive
to create valuable communi�es revolving around
customer sa�sfac�on while maintaining profit
and sustainable prac�ces.” Minutemen C���������� G����
PROJECT OVERVIEW
7 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Execu0ve Summary
Tallyn Ridge is approximately a 147 acre site located in Frederick County Maryland, not far from Bal4more and Washington
D.C. The development consists of 441 residen4al units varying in type. Once the development is completed it will be a prospering
residen4al community. The property is in a beau4ful loca4on, located right next to the Pinecliff Regional Park, while s4ll being a
commutable distance from Bal4more and Washington D.C. The en4re site will be located off of Reich’s Ford Road, which allows for
easy access to the development and other surrounding ameni4es.
Our development targets a wide range of clients. Future residents of Tallyn Ridge will consist of young people working in
either of the nearby ci4es, young couples looking to poten4ally start a family, families with mul4ple children, and also senior
ci4zens. The median annual household income of the target market is approximately $65,328, and the median annual income per
capita is approximately $32,200. Given that informa4on, we have come up with an asking price between $225,000 and $504,000,
depending on the type of unit and its square footage. In terms of marke4ng the development, our business team has strategized by
offering several different housing op4ons and prices in order to appeal to our target audience and offer buying opportuni4es to a
wide range of home buyers. According to our market analysis, Tallyn Ridge units are designed to be suitable for all ages and family
sizes. Each is designed with an open floor plan, leaving the home customizable to individual needs. Our professional team of
architects have developed a tradi4onal community se6ng, while s4ll maintaining the rural style of the surrounding farmlands.
Our financial team understands that the Tallyn Ridge development will be a significant investment because of its cost, size,
and dura4on of construc4on. In evalua4ng the projects feasibility, our business team has been able to develop the most effec4ve
plan for acquiring the necessary funds, and providing a return on investments from all involved firms. Our team has found that we
need to shiT the focus of financing into 3 stages: acquisi4on, construc4on, and permanent financing. The ini4al acquisi4on of the
land will be covered by the capital investment of $12.5 million. The most significant loan will be for construc4on, which will be an 8
year dura4on. We have concluded that in order to reduce risk and increase profit maximiza4on, we need to aggressively target
lenders with low interest rates and increased flexibility. For this reason, we will use a single commercial lender for mul4ple stages,
provided that the lender offers favorable rates and allows loans to transi4on between one another. Our highest calcula4on for
liability dura4on is for 30 years, although we expect to shorten this term. Because of this possibility, we have completed financial
analysis for long-term ownership. It is projected that 20 years aTer comple4on, there will be a cash flow of about $97 million.
It is essen4al that we also account for the poten4al risks that may be involved throughout the project dura4on. A few risk
factors include construc4on risk, market risk, and weather related incidents. In order to guarantee the success of the Tallyn Ridge
development to all inves4ng par4es we have taken the necessary steps to mi4gate poten4al risks and eliminate any financial loss.
Thank you for se6ng aside 4me to review our proposal for the Tallyn Ridge development. We feel extremely confident
about the success that will be brought to our company by developing the Tallyn Ridge community. This project has been created to
surpass any typical residen4al development, opening doors to a wide range of local markets. By crea4ng a comfortable community
and incorpora4ng sustainability features, we are more than confident that this investment will guarantee profitability. We hope you
find our proposal to be as amazing of an opportunity as we do, and how Tallyn Ridge could be the next step in building our
company.
MARKET ANALYSIS
8 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Overview
This Market analysis explores the area of Frederick, Maryland. In general, it is a perfect
place to raise a family. With an amazing school system, Frederick County boasts over 10
high schools and ranks number one for educa0on within the state. Holding a strong job
market as well, Frederick is extremely a�racted for adults seeking employment. We believe
these factors will strongly affect the decision of pursing this development.
⇒ Introduc0on & Demographics
⇒ Frederick County History
⇒ Income Distribu0on
⇒ Transporta0on
◊ Bus System
◊ Major Road Access
◊ Train System
◊ Airports
⇒ Local Employment
⇒ Future Growth
⇒ Housing Market Analysis
⇒ Local Compe00on
MARKET ANALYSIS
9 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Introduc0on & Demographics
Frederick County’s loca4on in Maryland sits in the northwestern part of the state. The popula4on derived from the 2010 U.S.
Census puts the popula4on at roughly 240,336. This county includes Maryland’s second largest city, Frederick, with a popula4on
of 65,239 people.
Due to the county’s loca4on near an important metropolitan areas, like Bal4more and
Washington DC, the county has experienced a rapid popula4on increase in recent years
which would be a posi4ve aDribute of selling residen4al houses. According to the 2010 U.S.
Census the key ethnic makeup of the county was as follows 81.5% white, 8.6% Black, 7.3
Hispanic and 3.8% Asian. Frederick’s popula4on age is mostly under 34 years old which is
going to be important for design considera4ons. An important facet when someone in this
age demographic is looking to relocate is how the school system performs for their
children. This area is praised for having one of the best school system in Maryland, ranking
#1. This will allude to the target demographic strategy of ge6ng city couples that are
looking at moving into a larger home in the s suburbs and want to start a family in a
posi4ve loca4on.
DEMOGRAPHIC PIE CHART??
MARKET ANALYSIS
10 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
History of Frederick County
Frederick County embodies rich history and American tradi4on that extends back to our na4on’s earliest days. The county was
originally founded in 1748 from parts of Bal4more and Prince George’s County. Though its namesake is unknown, many historians
suggest that it was named aTer Frederick Calvert, the sixth and last Lord of Bal4more. In 1776, the county was divided into 3
por4ons. The western part of the county became Washington County, the Southeast Montgomery County, and the North remained
as Frederick County. Fredrick has been relevant in since the colonial 4mes ac4ng as a crossroad for an Indian trail and routes to the
Chesapeake Bay area.
A significant amount of Civil War history lies within Frederick County. In variety of baDles and historical events have occurred on
these soils. There is a museum dedicated to displaying the history for the residents in the region. In addi4on to the civil war history,
there is Camp David which has been an important loca4on for the Carter Administra4on in nego4a4ons between Israel and Egypt in
the 1979 Treaty.
U.S. Army Biological Warfare Laboratories established at Camp Detrick.
Frederick held for ransom by Confederate forces under Gen. Jubal Early
Frederick Incorporated
Edward Braddock, George Washington, and Ben Franklin met at Frederick to plan Bri4sh assault on Fort Duquesne
Frederick County formed from parts of Bal4more County and Prince George's County
First Lutheran church in Maryland built in Frederick County
Frederick Historical Timeline
1743 1748 April 23,
1755 1816 1943
July 9,
1864
MARKET ANALYSIS
11 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Income Distribu0on
Frederick Maryland Median Income
The median home income level for Frederick County is
$84,770 while for the state of Maryland it is $73,538. Roughly
about 6.1 percent of Frederick County residences are below
the poverty line, this is significantly lower than Maryland’s 9.8
percent. However, a large city surrounding the county,
Bal4more, has a whooping 23.8 percent of residences that are
below the poverty line, with a median household income of
$41,385.
Specifically for the city of Frederick, the American Community Survey found that less than 5 percent of people either make less than
$10,000 a year or more than $200,000. Approximately 50 percent of all Frederick residents make between $50,000 to $150,000,
with a median income of $65,652. The full distribu4on for the city of Frederick between 2000 and 2012 can be found below.
Income Distribu0on in Maryland (%) Income Distribu0on in Bal0more (%)
MARKET ANALYSIS
12 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Transporta0on
Bus System
The public transporta4on bus system in Frederick County is providing by TransIT.
TransIT currently operates 9 Connector bus routes, mostly in the city of Frederick, 5
shuDles, and demand-response for seniors and persons with disabili4es. TransIT also
provides connec4ons to other public transporta4on services in the region, including the
MTA Maryland's routes 204 and 515 commuter bus and MARC Train service.
Major Road Access
Frederick County has direct access to two major interstates, I-70, I-270, as well as to U.S. Route
15 and U.S. Route 340. This is the primary transporta4on network in this region and where most
of the people will be using in order to access local ameni4es.
Train system
The city is served by MARC commuter rail service, which operates several trains daily on the former Bal4more and Ohio Railroad's
Old Main Line and Metropolitan Branch subdivisions to Washington, D.C.; Express bus route 991, which operates to the Shady
Grove Metrorail Sta4on.
Airports
The nearest public airport in Frederick is the Frederick Municipal Airport. It is located 1.9 miles away from the downtown area and
1.8 miles away from the train sta4on.
MARKET ANALYSIS
13 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Employment
Fort Dedrick
Fork Dedrick employs 9,100 people yearly and is the largest employer in
Frederick. Yearly, Fork Dedrick gives back $500 million into the local
economy (2008). Fork Dedrick is one of the largest biomedical research
centers in the country. They have mul4ple offices for both military and
civilian agencies. The fort is located on interstate 270 just a few minutes
away from downtown Frederick. Also it is the Naval Medical Logis4cs
Command and Telemedicine and Advanced Technology Research Center.
Frederick County Board of Educa0on
The Frederick County Board of Educa4on employs 5,650 employees yearly, of those employees 3,000 are teachers K-
12 grade, there are 150 that are administrators, the school district has 135 counselors, and the remaining employees
are bus drivers, custodians, etc. The Main office is located at 191 South East St. The Frederick School system is rated
in the top 11% of the country along with having the second lowest dropout rate in Maryland at 3.91%.
Frederick Memorial Healthcare System
The third largest employer is Frederick Memorial Healthcare System (Memorial Hospital) 2,696 employees of these
employees, 400 doctors on the staff with 42 special4es. The hospital is located at 400 West Seventh St.
The remaining major employers are: Frederick County Government, Ledios Biomedical Research, Well Fargo Home Mortgage and
Frederick Community College
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MARKET ANALYSIS
14 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Future Growth
Frederick, Maryland has a posi4ve future outlook, which is ideal for our new development. More jobs will be coming to the area
with an expected rate of 34.20% over the next ten years. The number of households in the area is also expected to increase greatly
from 89,935 in 2015 to 123,247 in 2040. To jus4fy the increasing households in the area, popula4on is also expected to increase
steadily from 241,616 in 2015 to 329,955 in 2040. With the job growth, households, and popula4on all on an upward trend, we can
also expect new business to enter the area, one being innova4ve startups.
Startups are beginning to grow popularity in the area, and the
likelihood of more popping up is inevitable. Also, with a high
pent-up demand, the housing market must also have a large
influx of buyers. Due to increased rent, more individuals, and
families, are beginning to choose ownership over tenancy.
Mortgage giant Fannie Mae is luring future homeowners into
buying with a minimum down payment of 3% for first 4me
buyers in comparison to their previous rate of 3.5%. This rate
will make buying more affordable for first 4me buyers, and let
the market increase even more. Therefore, more middle aged
adults will be packing up their apartments in pricey Washington
D.C., and Bal4more to look for ownership in a town. A new
development, like ours, within a mile proximity of Frederick
center will appeal to these poten4al buyers and their families.
A rise in demand has created a rela4vely short absorp4on rate for the bustling community of Frederick. September 2015 sta4s4cs
state the absorp4on rate to be around 2-3 months. This is a huge improvement from 2014 where we saw rates double what they
are now.
MARKET ANALYSIS
15 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Housing Market Analysis
The real estate market in Frederick County is very ac4ve. Average Days on Market the 4me it takes to get a contract: 68 days, up
from last year’s 55 days. This is increasing at a rapid rate which shows poten4al to sell our development’s housing stock quicker
than in other parts of the na4on.
Number of Homes Sold: There were 358 new pendings under contract, which is around 13% more than last September. The
demand is certainly staying steady heading into Spring of 2016 which is a good 4me to sell, because buyers are ready to purchase.
Total Lis0ngs in Frederick: 1398, up 8% from 1300 last year. The inventory is increasing to what is usually considered a
normal number for Frederick County, but the demand is up, as well. We’re seeing a seller’s market with a 2 to 3 month absorp4on
rate. These sta4s4cs are what will make our aggressive sales outlook feasible for this development.
Detached Single Family Housing Analysis
The majority of homes in Frederick are single-family dwellings. About 33.72%
of homes were single families in 2014. Most of these single families were built
in the 1970’s offering a Brady-Bunchesque look to them. The biggest draw for
families is a detached home where they can have their own yard, and a place
of their own. With the majority of Frederick’s popula4on in their late 20’s to
mid 30’s, we are hopeful this sector will be successful in the search for single
family homes to begin a family.
The average cost of a single-family home in Frederick was $348,700 as of this
September, which is up a whole 9% from last year.
Townhomes Analysis
Townhouses are a cheaper op4on for poten4al buyers in the
Frederick area. Townhomes make up 31.22% of all the homes
in the area. Because townhomes cost less than single families,
we think they could appeal greatly to those looking for a
place, but not looking to spend as much as a single-family.
With the average popula4on age in Frederick being early-late
30’s, this housing op4on should appeal to couples, and small
families. Due to increased rent within the Washington D.C.
area, we hope many young families, and couples will venture
out to Frederick to experience a community se6ng with a
great commute.
MARKET ANALYSIS
16 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Local Compe00on
With Frederick’s expected job growth, popula4on increase, we expect to see more housing op4ons to fit the expanding city that
is ideal for any commuter. One development that is new and in Frederick is the Tuscarora Creek Community. Tuscarora Creek has
ranch styled homes, single families and townhouses. Their development has both character, and great proximity to Frederick
center, being merely 10 minutes away. In addi4on, there is also another similar development called WestView South. These
communi4es are not iden4cal but they do offer some s4ff compe44on. In regards to pricing, square footage, and ameni4es
offered, these two developments are in close range to Tallyn Ridge
Tuscarora Creek is a collec4on of many different types of homes. With three different styles of townhouses to choose from, and a
variety of five single-family layouts, Tuscarora Creek has covered every individual's wants and needs. Each unit offers intricate
design and state of the art kitchens. Community ameni4es include two regula4on soccer fields, a fitness center, a pool, a
clubhouse, a dog park, and community sponsored events such as farmer’s markets. Tuscarora Creek is also located nearby many
walking trails, which are a major draw to many future homeowners, who want the convenience of nature in their backyard.
Tuscarora Creek is 1 mile from the town center, just like our development.
WestView South is a future development that will consist of retail, commercial, and “play” space. The loca4on of WestView South
is ideal for those employed close to this development, or want a interac4ve living experience. WestView South offers many shops
ranging from Tallyn Ridge. WestView South is also offering 615 residen4al units to be sold within the next few years. These units
are equipped with plenty of ameni4es, including walking trails.
MARKET ANALYSIS
17 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Local Compe00on
Local Housing Compe00on The Frederick County area boasts many new developments, but Tallyn Ridge’s primary compe44on is Tuscarora Creek,
and Landsdale. Both communi4es offer compe44ve pricing, spacious home size, intriguing designs, and vast ameni4es for
prospec4ve buyers.
Tuscarora Creek:
Distance to Downtown Frederick: 5 miles
Distance from Tallyn Ridge:
Home Types: Townhouses, Single Family
Bedrooms: 2-6
Baths: 2-5
Lot Size: 7,150 square feet
Year Built: 2014
Square Footages:
Townhomes: 1,680 & 2,082 & 2,296
Single Family’s: 1,870 & 2,053 & 2,459 & 2,562 & 2,740
Lansdale:
Distance to Downtown Frederick: 12.4 miles
Distance from Tallyn Ridge:
Home Types: Townhouse, Single Family
Bedrooms: 3-5
Baths: 2.5-5.5
Lot Size:
HOA Fees:
Year Built: 2015
Square Footages:
Townhomes: 1,873-2,059
Single Family’s: 2,245-3,488
HOME DESIGN
18 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Overview
⇒ Estate
⇒ Townhome
⇒ Single Family Detached
⇒ Co�age
⇒ Upgrade Packages
⇒ Safety & Security
⇒ Green Ini0a0ves
⇒ Clubhouse
Sustainability and Community are at the core of the design of every home in Tallyn Ridge. The materials and
features of each home are mostly made of all natural, durable materials which have low VOCs and low
carbon emissions throughout their lifecycles. Walkability and common spaces allow regular interac4on
between neighbors. The exterior styles of each home use similar finishes and architectural elements such as
doors and windows, dormers, and pillars. The interiors are designed to enhance func4onality, openness and
elegance with many op4ons to custom cater homes to their owners.
Each individual home is designed to meet or exceed all code and zoning requirements for the State of
Maryland and Frederick County.
HOME DESIGN
19 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Estate
The Robinson Estate Homes
The Estate: an elegant oasis of comfort, beauty, and func4onality; fulfilling the wants and needs of the busiest families with large
open-space floor plans, plen4ful storage, and an emphasis on sustainability and luxury details.
Demographically Catered Design
The Estate, Tallyn Ridge’s most immaculate home is spacious, beau4ful, and prac4cal. As you enter the front door, you are greeted
with a cozy mud room with a view of the great room and a side room with more than enough storage for an en4re family’s jackets,
boots, and sports equipment. The great room includes a large open living space for entertaining, an elegant dining area, and a high
end kitchen. There is also an office/bedroom suite on the first floor with its own bath and separate entrance. The second floor
comes standard with 3 large bedrooms and two full baths, plus an oversized master suite with a walk in closet and a breathtaking
aDached master bathroom complete with a walk in shower, large bathing tub, and granite vani4es. This home is perfect for larger
families or those who love to entertain guests. In addi4on to all of these great features, the Estate also includes many different
upgrade packages to fully customize the home to its owners.
Star0ng Price: $504,000
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HOME DESIGN
20 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Estate
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HOME DESIGN
21 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Single Family A�ached
The Messuri Townhomes
The Townhouses: Available both in front and rear loading garage designs, bring an exci4ng atmosphere to your doorstep.
Demographically Catered Design
The design of the townhome is created with young families and professionals in mind. Each three-story unit includes modern and
sleek interiors that cater to those with busy lifestyles. Features, such as a one-car garage, and an abundant amount of closet and
storage space, make life more convenient. Elegant front balcony and side-by-side homes enhance a communal atmosphere. The
home consists of three bedrooms, 1.5 bathrooms, and storage space. The living story floor plan is open and func4onal, crea4ng an
ideal space for entertainment. It also has an element of glamour with unique ligh4ng fixtures. The kitchen has high-end counter
tops, European style cabinets, and easily accessible pantries.
Star0ng Price: $358,000
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HOME DESIGN
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UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Single Family A�ached
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UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Single Family Detached
The Weuling Single Family Homes
The Single Family Detached Homes: Available in both rear or front loading garage designs, are a beau4ful, simple, and func4onal
form, emphasizing open space and an occupant’s connec4on to the whole home. Plen4ful windows further expand the space and
allow sunlight to wash over the rooms.
Demographically Catered Design
The Single Family Detached home is the perfect place to raise a family. Whether one enters through the front door or its aDached
garage, they immediately feel the home expand in front of them. Its two stories boast large open areas to live and grow. On its first
floor; a massive living space bringing the kitchen, dining room, and living room into one. A convenient water room also finds itself
on this story. A beau4ful open staircase leads to the second floor; a nice floor area for children to play, two bedrooms which share
a full bathroom, and a larger master bedroom with its own bathroom and a walk in closet with space for both spouses. Back
downstairs the house’s garage is deep enough to fit a laundry area as well as storage and hobby space. With a Single Family
Detached home the last word one would use to describe its family is “detached”.
Star0ng Price: $432,000
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HOME DESIGN
24 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Single Family Detached
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HOME DESIGN
25 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Co�age Home
The Therrien Co�age Homes
The coDage: a synergis4c blend of affordability and comfort; fulfilling the needs of residents through innova4ve open-space floor
planning, and promo4ng communal sustainability.
Demographically Catered Design
The coDage, a smaller home with a surprisingly spacious feel, has two bedrooms and one bathroom. This makes it perfect for a
newlywed couple or a couple who are expec4ng, but we are specifically marke4ng them towards older couples who are looking to
downsize as kids are moving out of the family home. It provides an open and spacious living area, a fully equipped kitchen with an
island, and all the appliances an owner could want. The kitchen and living space are on separate ends of the house, providing the
privacy and serenity that many people desire when they are relaxing in their living room. Overall, the coDage’s open floor plan,
mixed with its affordable, but well equipped design, is enough to make any resident happy.
Star0ng Price: $249,000
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HOME DESIGN
26 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Co�age Home
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HOME DESIGN
27 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Upgrade Packages
♦ Back Deck/pa0o-$5000
♦ Swimming Pool-$40,000
♦ Hot Tub-$5000
♦ Fire Pit-$500
♦ Playground-$2500
♦ Outdoor Kitchen-$4000
♦ Landscaped backyard-$3500
♦ Garden-$500
♦ Storage Shed-$2000
All standard features included
Economy Package
CoDage $249,000 Townhome: $358,000 Single Family: $432,000 Estate: $504,000
♦ Loaded Kitchen
Quartz countertops
Stainless Steel Appliances
Under Cabinet Ligh4ng
SoT Close Cabinets & Drawers
♦ Upgraded Finishes
Crown Molding throughout
Bamboo hardwood flooring
Stone Tile
♦ Bathroom Upgrade
Walk in shower
Marble vani4es
High End Package
CoDage $274,000 Townhome: $388,000 Single Family: $462,000 Estate: $544,000
♦ Dream Kitchen
Granite Countertops
Viking appliances
Cabinet upgrade
Under Cabinet ligh4ng
♦ Enhanced Entertainment
Bose 5 Speaker surround sound
Intercom/whole house speakers
♦ Extravagant Finishes
◊ Oversized baseboard and
crown molding
◊ Wainsco4ng and chair rail
◊ Built in entertainment
center and storage solu4on
Luxury package
CoDage $299,000 Townhome: $418,000 Single Family: $492,000 Estate: $584,000
Outdoor Op0ons
HOME DESIGN
28 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Safety & Security
Safety & Security
Though there may be many differences between the concerns of the mul4ple target demographics of Tallyn Ridge, safety and
security are paramount for all. It is important to meet the needs of the community, whether preven4ng common neighborhood
vandalism, protec4ng the elderly from robberies, or providing a safe environment to raise children. A number of measures have
been taken to help accomplish this. On a small scale, each house has been ouniDed with steel entry doors, and deadbolt locks to
provide enhanced security inside the home. Along with this, the homes are pre-wired for security systems such as ADT for addi4onal
peace of mind. Outside the house, mo4on sensor lights light the way for families to safely walk in and out, and also provide another
preventa4ve method to fend off unwanted intruders. These lights work in tandem with the well-lit streets to provide a safe night-
4me environment, and promote the welfare of the community in a way that s4mulates community engagement, even in the dark
hours of the night. In addi4on to each of these security features, every home also has an op4onal security upgrade which includes
intercoms, advanced window locks, and security cameras.
In addi4on to security, each home is also built with fire protec4on and detec4on in mind. Every home comes with smoke/fire/
carbon monoxide alarms that are hardwired to the fire department to ensure safety no maDer when or where any issues may arise.
The buildings are also created with fire resistant materials to allow long burn 4mes before any fire should be able to penetrate into
the structural members of the home. This combina4on of fire protec4on and detec4on helps to minimize any risks to families, their
homes, or their possessions
Ligh0ng
LED lights
LED lights will come standard in each unit. The benefit of LEDs over CFLs and incandescent bulbs is a longer lifespan, significant
energy savings and a lack of toxic chemicals. In the homeowner's manual, we will encourage occupants to replace these bulbs in the
future with more LED’s.
Mo0on Sensors
Our homes will be equipped with mo4on sensor lights in all main rooms and hallways to reduce wasted energy. These lights will
have switches for manual opera4on and the switches will be ouniDed with dimmer controls. Dimmers have been linked to
decreased energy usage because they restrict the amount of waDage used on the bulb. It also allows for personalized comfort and
occupant control throughout the home.
Mo4on sensors will also be u4lized in the home’s security system. Outdoor lights will turn on when they detect movement and
automa4cally shut off during periods of low ac4vity.
HOME DESIGN
29 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Green Ini0a0ves
Sustainability Goals
Minutemen Construc4on Group takes pride in our commitment to environmental sustainability. We are building to the ICC 700
Green Building Standard. This label indicates to the market that our buildings have been designed to high standards. Resource
efficiency, and to provide health and comfort, thus increasing the property value and quality. We are incorpora4ng sustainability
efforts into the construc4on process as well as design decisions on materials and building systems. By op4mizing energy efficiency
measures, we can help our tenants reduce the financial burden of u4lity costs. We hope that the Green Ini4a4ve can serve as a
learning tool to increase environmental awareness in the Tallyn Ridge community.
Water Conserva0on
Low Flow Dual Flush Toilets
Each residence will be equipped with dual flush low-flow toilets. This simple
technology will offer substan4al financial and water savings. According to
consumer reports a family of four can save 16,000 gallons of water per year by
replacing tradi4onal toilets with a dual flush system. This can equate to 100
dollars a year in savings. Operator informa4on will be included in the home
manuals, educa4ng homeowners on the benefits of water conserva4on.
Depending on the brand, a dual flush toilet can cost the same as a tradi4onal
one, or up to 150 dollars extra. In the worst case scenario installing water efficient toilets would pay itself back in two years, a very
reasonable investment considering their long lifespan.
Low flow showerheads and fixtures
According to the EPA switching a 2.5 gallon per minute
showerhead with a 2.0 gpm can save up to 2,900 gallons of
water each year. Reducing water consump4on not only lessens
the strain on local environments, but also saves energy through
reduc4ons in hot water hea4ng. Every showerhead in the
development, with the excep4on of the estate master
bedrooms, will be a cer4fied WaterSense product, ensuring a
maximum flow of 2 gpm. These fixtures can be purchased at
comparable costs to a tradi4onal showerhead. Master
bedrooms in the estate will feature higher end, luxury rainfall
fixtures.
HOME DESIGN
30 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Green Ini0a0ves
Mechanical Hea0ng & Cooling Systems
The Tallyn Ridge development encompasses several different types and size of
houses. For this reason, each type of home in the development will require a
different type of hea4ng system. For the Townhouses, we have implemented a gas
-fired boiler, sized to provide hot water and hea4ng for 4 units. Each unit will have
a ducted system and air handler with a cooling coil. Each unit would also be
ouniDed with a condenser unit on the outside. To move the heat from the boiler
to each unit, a hydro-air hea4ng coil will be connected by a heat exchange coil to
the very large hot water buffer tank. This system is a 2-in-1 that will make each
string of townhouses share energy while s4ll allowing for adjustment for personal
comfort levels.
For the mid-sized coDage and single-family houses we will be installing mini-split heat
pumps. These pumps consist of several heads connected to a condenser outside which
relays a refrigerant line from the outside to each head to provide cooling. A great
advantage of using this system is that in the winter the same units can be used to
extract heat out of the air and bring it inside through the same piping. Also these
systems do not require any ductwork inside the walls so it leaves more room for
insula4on or other u4li4es that need to be added later on in the building’s life cycle.
For the large estate property, mini-split heat pumps simply aren’t enough. These
houses will require a centralized air system which is tradi4onal in many homes around the country today. The ducts are hidden in
the walls so there will be no obstruc4ng heads in the hallways or rooms.
Ven0la0on System
Regardless of unit type or size, we make it a priority to ensure that every unit is
sealed 4ght and that there are no gaps in insula4on. This ensures that hea4ng and
cooling energy is not gone to waste. Because of this feature, a small fresh air
ven4la4on system is needed to bring in new air. These systems guarantee that
each unit has the 3.5 air changes per hour required by code with minimal energy
needed. Each type of home will be equipped with a balanced ven4la4on system.
This ven4la4on system provides a constant supply of outdoor air resul4ng in
improved comfort and indoor air quali4es, specifically targeted to rooms where
occupants spend the most 4me. The exhaust air outlet forces air from rooms
where moisture and pollutants are most oTen produced (kitchen, bathrooms, and
perhaps the laundry room) to the outdoors.
HOME DESIGN
31 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Green Ini0a0ves
Innova0on
Nest
We will be ouni6ng all units with the Nest thermostat.
This device is a simple and inexpensive installa4on with a
high return on investment and years of benefits. This
device learns your hea4ng and cooling paDerns to best
calculate when to turn your HVAC systems on. This small
device also allows for users to change the temperature of
their house remotely, using their mobile phones. On
average, nest converters saved between 10%-12% on
hea4ng and 15% on cooling.
Solar Ready Homes
Each home will be constructed with interior conduit running from the
a6c, through walls down to the main electric panel located in either
the garage or u4lity room, depending on the building. A 200-Amp
service will be run in each home in order to have breaker space for the
poten4al addi4on of PV. Roofs will be equipped with a built in
harnessing loop on southerly exposed sides. This feature will be
installed near the ridge, water sealed and shingled over. It will
improve the safety and convenience of installing solar and re-shingling
the roof.
Electric Car Charger Compa0ble Outlets
Garages will come built with a 240-volt wall outlet, making future installa4on of electric car chargers easy. A standard 120-volt
outlet can charge modern electric cars, however the process is slower than connec4ng to 240-volts. Making car charger upgrades
easy for homeowners adds value to the proper4es, as electric cars will be common in almost every household in the near future
HOME DESIGN
32 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Tallyn Ridge Clubhouse
Tallyn Ridge Clubhouse
The clubhouse has been designed to be the pillar of the community. Its features will regularly bring many residents together and
help to grow their rela4onships. It also boasts numerous income possibili4es for our company through numerous rental and
addi4onal HOA fee op4ons.
While sharing similar architectural features with all of the buildings, its style s4ll dis4nguishes it quite strongly. The 12,000 sf
building hosts all of the ameni4es the residents could hope for, including a day care, a gym, a swimming pool, two banquet halls, a
café, and plen4ful office space.
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HOME DESIGN
33 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Tallyn Ridge Clubhouse
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SALES STRATEGIES
34 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Overview
⇒ Target Markets
⇒ Model Homes
⇒ Sales And Realtor Rela0onship
⇒ Site Maintenance
⇒ Product Pricing
⇒ Product Marke0ng
⇒ Innova0on
Due to surging rental rates in ci0es such as Washington D.C., and Bal0more, more
individuals are seeking to move towards the suburbs. Just an hour drive from Washington
D.C. stands Frederick County, MD, a bustling, and sustainable community with excellent
schools, and an above average standard of living. Due to Frederick’s ideal loca0on, we at
Tallyn Ridge are looking to migrate the younger, and wealthier individuals of D.C. to our
community. Tallyn Ridge is ideal for those looking for a dwelling offering ample amounts of
square footage, a perfect loca0on to raise a family, and their own opportunity to achieve
the “American Dream” of home ownership.
SALES STRATEGIES
35 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Target Markets
Target Home Owners
Townhouse
♦ The targeted age range for the townhouses will be 21-27 years old
♦ Young Professionals, small, younger families, families who want a fun
environment to raise children, to move from the city
♦ Enjoy a close community with great neighbors
♦ 3 bedroom with 1.5 bathrooms
♦ Blue collar workers
Co�age
♦ The targeted age range is 55 years or older.
♦ The income for residents is about $60,000-$65,000.
♦ Perfect for a older couples looking to downsize or young families buying their starter
first home.
♦ 2 bedrooms and 1 bathroom
♦ White collar or blue Collar jobs
SALES STRATEGIES
36 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Target Markets
Estate
♦ Targeted age range of 25-40 years old
♦ Priced for a family with a higher median income of $70,000-$90,000
♦ Estate homes are ideal for families with 2-3 kids
♦ 4 bedrooms with 3 ½ bathrooms
♦ The people purchasing the estate homes will have white collar jobs
Single Family Homes
♦ Targeted age range of 25-40 years old
♦ Families with one and two children
♦ Slightly larger than the Townhouse, also slightly more expensive.
♦ 3 bedrooms and 2 ½ bathrooms
♦ White collar workers
SALES STRATEGIES
37 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Model Homes
In order to show poten4al buyers what their future home will look like, we shall construct two model homes on site. These are
completed homes that will be built at the start of construc4on. These homes will be fully furnished, and ready to use. One model
home will be a townhouse and the other will be a single family home. The model homes will be equipped with samples of our high
end and luxury op4ons which includes: custom built-in cabinets, Viking appliances, highest quality granite countertops, bamboo
hardwood flooring, and an expansive back yard deck. The goal of the model homes is to show poten4al customer how the house will
best serve them. The models will be served by helpful and charisma4c sales agents that will help guide the customer in decision on
which house and upgrade package makes sense for them. Since the model homes will be ouniDed with the best package, the result
will be more sales to the best op4on and the beDer (secondary) op4ons. The expecta4on is that people will choose the middle
upgrade package. These model homes will also help with increasing pre-sales because people will feel more comfortable pulling the
trigger with home ownership in our development because they have physically walked through a sample of what they are going to
buy. We believe that this is crucial in our sales effort, especially for the first years, in order to secure enough sales to ensure profit
and risk mi4ga4on. We are confident that model homes will be a leading sales strategy for providing this security and healthy
boDom line.
SALES STRATEGIES
38 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Sales & Realtor Rela0onship
We will work with the locally ranked top brokerage, Frederick Real Estate Group LLC (FREG). They know the Frederick area inside
and out and have fantas4c experience marke4ng to the region. They will be our exclusive brokerage for Tallyn Ridge. Realtors and
will be offered a 2.5% commission per home. We will have four realtors from FREG to work to sell our products.
The realtors will be onsite at the clubhouse from 10am-7pm, Monday to Friday. During this 4me they will be around to answer
ques4ons about the proper4es and show the model homes to poten4al buyers. They will also engage in marke4ng for the
proper4es, alongside our own adver4sing, in order to make sure we are aDrac4ng the right people into the Tallyn Ridge community.
We have selected an exclusive partnership with Frederick Real Estate Group because they will be able to focus on our products and
they will be completely knowledgeable about it, thus being beDer sales people. This is more beneficial than having individuals
brokers or realtors sell the proper4es because the individual realtors might not be as knowledgeable about our products, thus
making for a less effec4ve sales team. Also, with the exclusive rela4onship we are able to give less on commission, which in turn also
saves us more money. The reduced commission is because the realtors will be selling a larger sum of homes that we found the 5%
commission was too much when adding up the total commission from all home sales combined.
SALES STRATEGIES
39 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Economic Growth and
Site Maintenance
Economic Growth
With the crea4on of 441 homes, Tallyn Ridge can help foster
organic economic growth within the Frederick County area. The
influx of families, and individuals will boost the local economy by
having more residen4al purchasing power, as well as benefit their
already excelling school system. With the addi4onal tax revenue,
Frederick has shown determina4on to expand the facili4es within
their school system to accommodate the influx of new residents
within this family oriented community.
With a tax rate of 0.7305 per every $100, we have es4mated that
Tallyn Ridge will contribute $1,124,254.11 to the Frederick County
municipality. This means aTer ten years, with all of the homes
sold, Tallyn Ridge will have contributed roughly $12,000,000 to
boost the Frederick County local economy.
Site Maintenance
Un4l the homes are sold and are being maintained by the HOA, we
will provide site maintenance throughout the development. This
include pre-HOA lawn maintenance, as well as snow removal while
the homes are being developed and sold. There will also be a
debris clean up crew on site to con4nuously make sure that
construc4on does not leave the development dirty. Site
maintenance is extremely important to the development of the
homes, in addi4on to, the sales of the homes. In order to aDract
buyers the whole site must look pris4ne and well-kept at all 4mes.
SALES STRATEGIES
40 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Homeowners Associa0on
A Homeowners Associa4on (HOA) will be established once the first phase of project finished. HOA will provide a variety of services
and create clean, comfort and luxurious living environment for the community. A monthly HOA fee of $95 will be collected from
each household. The fees will be increased propor4onally with the infla4on rate and the need of associa4on. The range of the
increment will between 10-15% each 4me. 66% of total revenue will use toward current year opera4on and 34% of total revenue
will reserve for longer capital items such as: road and roof maintenance, along with the Community Center renova4ons.
Services Included:
♦ City Services
Trash removal, water, sewage, electrical lines
♦ Insurance
Damage of the exterior of the building and the property around it.
♦ Pest Control
A monthly pest control inspec4on
♦ Lawn or Sideway Care
Snow removal, gardening and general lawn maintenance.
♦ Maintenance and Repairs to the Outside of the Building
This includes exterior pain4ng, driveway pavement repairs, roof leaks, etc.
Price : $95 per month / per household
Total Revenue : $95x441 = $41,895/month
$41,895 x12 = 502,740/year
Expense : Common Area Maintenance 30%
HOA Opera4on 30%
Disasters Relief 20%
Personal Expense 20%
SALES STRATEGIES
41 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Homeowners Associa0on
The Tallyn Ridge Clubhouse
The clubhouse offers many alterna4ve revenue streams while also being very aDrac4ve to poten4al homebuyers.
-Offers gym/pool memberships (for addi4onal monthly fees to the HOA)
-Daycare provided (for addi4onal monthly fees to the HOA)
-Rentable banquet halls for events such as birthdays (es4mated 1200+ residents, that’s 4 birthdays every day, good source of extra
income)
-Rentable office space/conference rooms (great for satellite offices/short term office rentals)
-Coffee bar for extra income
-property management offices, storage, and vehicles on premises, saves overhead costs.
-$1.7m construc4on costs
SALES STRATEGIES
42 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Product Pricing
The Estate $504,000
♦ 4 Bed, 3 ½ Bath, 3,600 Sq Ft
♦ Average Sales Price/ Sq Ft: $134.87
♦ Average Sales Price/ Sq Ft * Estate’s Sq Ftge: $485,545.58
♦ Estate’s Sales Price/ Sq Ft: $140.00
Single Family Detached $432,000
♦ 3 Bed, 2 ½ Bath, 2,600 Sq Ft
♦ Average Sales Price/ Sq Ft: $195.31
♦ Average Sales Price/ Sq Ft * Single Family’s Sq Ftge:
$507,813.21
♦ Single Family’s Sales Price/ Sq Ft: $166.15
Townhome $314,000
♦ 3 Bed, 1 ½ Bath, 2,400 Sq Ft
♦ Average Sales Price/ Sq Ft: $149.41
♦ Average Sales Price/ Sq Ft * Townhome’s Sq Ftge:
$358,575.14
♦ Our Price: $314,000
♦ Townhome’s Sales Price/ Sq Ft: $130.83
Co�age $225,000
♦ 2 Bed, 1 Bath, 1,400 Sq Ft
♦ Average Sales Price/ Sq Ft: $192.18
♦ Average Sales Price/ Sq Ft * CoDage’s Sq Ftge:
$269,050.70
♦ CoDage’s Sales Price/ Sq Ft: $160.71
SALES STRATEGIES
43 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Product Marke0ng
Our marke4ng strategy will consist with both online and offline adver4sing. The online adver4sing will be primarily the use of
Facebook to target our audience, mainly one to two children homes with parents in the age group of 30-50. We will use Facebook as
opposed to other social medias because it is found that Facebook is the most used social media among adults. This would target the
demographic of both men and women aged 30-40.
Our offline adver4sing can include printed ads in local newspapers and magazines popular with our demographic, as well as
billboards and bus adver4sements. It is found with our demographic of 40-60 year olds that printed ads are more successful than
those found on television and the Internet. Some of the magazines that are most popular with our demographic that we can place
adver4sements in our: Parade (men and women aged 30-50), Time (men and women aged 30-50), Ladies’ Home Journal (women
aged 30-50), and Good Housekeeping (woman 30-50). These are some of the largest circulated magazines within our demographic.
Not only would we adver4se in the surrounding areas of Frederick, but we would also aim our adver4sing to the District of
Columbia. This is because they have a higher percentage of wealthier individuals who fit into our demographic that might not want
to live right in the city, especially if they are raising a family.
In addi4on to marke4ng outside of Tallyn Ridge, we plan on hos4ng ac4vi4es and events for families to come and enjoy the
development's clubhouse and tour the model homes. These ac4vi4es could include, but are not limited to: Farmer’s markets,
outdoor movie nights, and a carnival night. The point of these onsite events are to aDract families to show them the sense of
community that Tallyn ridge offers. When a property purchase is final, the buyer will receive a giT basket with giT cards to local
businesses, free dinner at the clubhouse, a map to the local area, and a boDle of champagne to toast to home ownership!
SALES STRATEGIES
44 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Innova0on
Minutemen Construc4on recognizes the rapidly changing energy
economy and takes pride in evolving accordingly. In an effort to adapt,
each home is solar-ready and equipped with car charging compa4ble
outlets. By implemen4ng cu6ng-edge technologies such as mini-split
heat pumps and Nest Learning Thermostats, we dis4nguish ourselves
among tradi4onal planners. Consumers, especially young adults, find
value in technological innova4on when buying homes.
Lower opera0ng costs
Advanced energy efficiency measures promise lower opera4ng costs for
developers, investors, and occupants. Through a thorough measurement
and verifica4on process of the first 10% of buildings constructed, we will
ensure that homes are being built and operated to our energy standards.
Increased durability
As longevity and durability rise as priori4es for green buildings, we observe an increased value in long-life design. The financial
benefits of infrequent replacement cycles and decreased maintenance requirements add value to our property and are aDrac4ve to
new families searching for their first homes.
Improved comfort
A properly assembled building enclosure can lead to improved indoor environmental quality, providing controlled ven4la4on and
clean air for future occupants. By educa4ng our subcontractors to fabricate the building shell as modeled, we can promise home
buyers and occupants that their homes will not require seasonal weatheriza4on in order to maintain healthy indoor environmental
quality.
NGBS Accredita0on
We at Minutemen Builders are following guidelines for NGBC Green Cer4fied projects throughout the construc4on process. This
covers household u4li4es, such as efficient mechanical systems, and on-site construc4on prac4ces. Tracking our efforts and
aDaining accredita4on is a mark of having followed strict standards in all aspects of development, improving public percep4on.
Through these measures, we display a commitment to environmental stewardship and speak to the publics’ growing interest in
sustainability.
Innova0on & Sustainability
FINANCIAL ANALYSIS
45 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Overview
⇒ Profitability Overview
⇒ Construc0on Bonds
⇒ Loan Structure
⇒ Absorp0on Rates
⇒ Cash Flow Report
⇒ Break-Even Analysis
The project provides financial data to back up its feasibility. The project’s financials include;
Home Owners Associa0on (HOA), Construc0on Bonds, Loan Structure, Absorp0on Rates,
Pro Forma, Cash Flow Report, Break Even Analysis, and the Conclusion to the sec0on. The
sec0on provides data that will back up the projects profitability.
FINANCIAL ANALYSIS
46 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Profitability Overview
FINANCIAL ANALYSIS
47 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Construc0on Bond Structure
Over the course of the project we will want to take out mul4ple bonds to
protect ourselves.
1) We will start with a bid bond to ensure that the bidders will be able to
complete the job also that the bins will be accurate if not the bond will pay
for the difference between the first and second bidders. This will protect us
against bidders that are not capable of comple4ng the job.
2) Then we will need to get a performance bond, which will ensure that the
contractors that we pick for the job do everything outlined on the contract.
If they do not do everything in the contract then we can collect on the bond
and hire a second contractor to finish the job.
3) Once we pick a contractor and start on construc4on we will want to get a payment bond so if we go bankrupt during the
project the bond will be able to pay for the supplies, subcontractors and any others that have worked on the project.
4) At that same 4me we will need to get supplier bond, which will make the suppliers give us what we want if not we can use
the bond to reimburse use for the materials.
5) The last bond that we will need to get will be the bond. This bond will guarantee us that all the work and materials used is
want we want and that are wriDen in the contract and if not, can collect on the bond to fix what needs to be fixed.
Our bonds will be 5% the price of the job. The bond rate (interest rates) is usually 1%-3%.
FINANCIAL ANALYSIS
48 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Loan Structure
Extensive Loan Report
Overview
The Tallyn Ridge Project will prove to be an extremely cost exhaus4ve process and will require us to finance the development
through diverse strategies. Acquiring Land, Developing the Parcel, and Construc4on will run Minutemen’s expenses into the
millions, not to men4on the numerous fees, permits, inspec4ons, and soT costs that we may face. Though we will assume that
Minutemen has equity capital and addi4onal assets, it wouldn’t be feasible for the development group to fund the en4re project.
This could become increasingly true if we assume that the group is involved with mul4ple projects. In order to complete the project
in the most efficient way, we will need to seek financing from outside lenders. Ul4mately, our project will require three steps of
financing.
1) Acquisi0on
The 147 +/- acre property itself will be acquired for $7.5 Million and will allow for the development of 441 dwelling units. This
por4on of financing will likely be the most manageable, but obtaining an acquisi4on loan is a process all in its own. Minutemen is a
large firm that has been involved with numerous development projects (ranging in size, cost, and purpose). A firm with their degree
of experience, success, and na4onal presence would be assumed to have equity and a strong line of credit. This leaves us with two
op4ons:
Op0on A
Cover the acquisi4on with our own equity. It is assumed that Minutemen has enough capital or addi4onal assets to afford
an ini4al investment of $12.5 M. Financing this ini4al phase of the project will reduce the amount of risk and liabili4es had
by our group. This would also afford us the 4me that would’ve otherwise been spent researching/dealing with lenders. The
drawback of this op4on is the limita4ons placed on our equity draw (equity reserved to invest in other projects). If we pull
back from other projects, it could weaken poten4al profit and place a larger reliance on the success of this development.
Op0on B
Use private lender to obtain an Acquisi4on Loan. This would be short term financing, likely las4ng anywhere from 1-3 years
of scheduled payments. Luckily, short term loans like these would not yield terribly high interest rates, but that could vary
between lender or change with the market. This loan would also require a purchase contract that allows us to begin
immediately. The upside to this op4on is the poten4al growth/profit in other projects. Though financing brings its own
liabili4es, there is poten4al risk in inves4ng our own equity. If this one project were to fail, it would cost us our ini4al
investment and the opportunity cost of other profitable projects. A major downside with op4on B is the difficulty in
obtaining a loan. Purchasing the land would require a loan that has nearly a 100% Loan-To-Value ra4o. This ra4o examines
the rela4onship between the mortgage amount and the value of the land. A higher LTV usually means higher risk. Typically,
banks like to set the cap on LTVs at 75%. On top of that, they will be assessing our financial statements, cash flows, federal
and state tax informa4on, business plan, and collateral sheet.
FINANCIAL ANALYSIS
49 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Loan Structure
2) Construc0on Loan
Even aTer an ini4al capital investment made by Minutemen , the firm will s4ll need to finance the rest of the project through loans.
Assuming that Minutemen will provide an ini4al capital investment of $12.5 M, the development will call for an addi4onal $12.5 M
in loans drawn from a commercial lender. According to the Signed Ordinance, our plan accounts for the development to be
constructed over 6-9 years. This process has been divided into 4 phases, all with a unique dura4on and number of units to be
completed.
Interest Rates
Construc4on is extremely risky and lenders will oTen try to leverage the structure of the loan to reflect that. An easy way
for them to do this is through higher interest rates. Fortunately, there are plenty of government and FDIC regula4ons that
place ceilings on interest rates. It’s likely we’ll have an interest rate that is roughly 4-8%.
Dura0on
Construc4on Loans last the length of construc4on. We have es4mated that to be 6-9 years. The longer the dura4on, the
more risk and higher interest rates.
Payments
Lenders understand that construc4on requires a lot of funding throughout random points of the project. For that reason,
construc4on loans allow the borrower to make monthly interest-only payments. Those payments are usually drawn from
the borrower’s interest reserve account. Once construc4on is complete, the principal balance is due. Lenders will
some4mes extend that for a year to let profits stabilize. We may need to exercise this while the Tallyn Ridge development
becomes occupied.
Draws
Each lender has a different process for how they distribute funds to borrowers (online, paperwork, etc.)
Lender
Usually the same commercial lender used for the acquisi4on
FINANCIAL ANALYSIS
50 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Loan Structure
Ideal, Moderate, Conserva0ve Construc0on Loans:
Ideal
Es4mates comple4on by 6 years. The shorter comple4on will allow for a lower interest rate. Ideal would 4%.
Moderate (expected)
Es4mates comple4on by 8 years. An expected interest rate would likely be 5%
Conserva0ve
Es4mates comple4on to take 9 years or possibly even longer. The risk associated with this dura4on would shoot
our interest rates up. Would likely be facing 8%, possibly even higher.
3) Permanent Financing
Unfortunately bad things can arise, and it is important to have a safety net. In order to cover ourselves should anything happen, we
will need a loan request for a permanent loan. These loans can also be called permanent mortgages. Typically, permanent loans are
offered to the development group as construc4on comes to a close and occupancy increases. Bowman will be able to use this loan
as means to pay off the construc4on loan principal, accrued interest, and other costs that may come up over a long period of
ownership. Once again, there is no fixed number that we will need, but it must be MORE than the construc4on loan principal.
Dura0on
Permanent loans generally last from 5-30 years. This allows the borrower 4me to pay off prior short-term principals
(construc4on & acquisi4on), handle ownership costs, and generate enough revenue to pay the permanent loan. We will
assume a long-term loan period of 20 years.
Construction Loan Scenarios*
Scenario Optimistic Base Conservative
Term 6 years or less 8 years 9 years or more
Rate 4% 5% 8% or higher
FINANCIAL ANALYSIS
51 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Loan Structure
Lender
This is generally up to the discre4on of Minutemen Construc4on. Typically, a lot of lenders will offer loans that transi4on
into one another. This allows the lender to collect more interest and the borrower is able to avoid the process of seeking
out help. In some situa4ons, we would be able to finance the en4re Tallyn Ridge Development with one lender. In other
situa4ons, we could poten4ally use mul4ple lenders. This, once again, is based solely on preference and our team’s
assessment of the loan offer.
Payment
Schedule (usually monthly) payments with terms nego4ated between the lender and borrower. Flexibility between the
lender and borrower is an important characteris4c of the ideal permanent loan. Markets can change very quickly and
added/reduced levels of demand can affect the development team’s ability to keep a structured payment plan. If the
lender is willing to give us a liDle wiggle room, handling a loan of this size will be a lot easier.
Summary:
♦ Financing the Tallyn Ridge development will be an expensive, 4me-consuming, and rigorous process.
♦ We need to shiT the focus of financing into 3 stages: acquisi4on, construc4on, and permanent financing.
♦ The ini4al acquisi4on of land will be covered by Bowman’s capital investment of $12.5 million. ($7.5 million conserva4vely,
$17.5 million op4mis4cally)
♦ Our construc4on loan will likely run over a dura4on of 8 years and
♦ In order to reduce risk and increase profit maximiza4on, we need to aggressively target lenders with low interest rates and
increased amounts of flexibility.
♦ It would save 4me and possibly money to use a single commercial lender for mul4ple stages, provided that the lender offers
favorable rates and allows loans to transi4on between one another.
♦ Financial liabili4es could poten4ally last for up to 30 years aTer the comple4on of construc4on. We need to ac4vely prepare for
financial analysis that extends into long-term ownership (perm loan).
FINANCIAL ANALYSIS
52 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Loan Structure
Financing (Most Likely)
Ini4al Investment $12,500,000
Addi4onal Financing (loans) $17,416,831
Total $29,916,831
Financing (Op0mis0c)
Ini4al Investment $17,500,000
Addi4onal Financing (loans) $12,416,831
Total $29,916,831
Financing (Conserva0ve)
Ini4al Investment $7,500,000
Addi4onal Financing (loans) $22,416,831
Total $29,916,831.48
FINANCIAL ANALYSIS
53 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Absorp0on Rates Report
Overview
The 4meline for which our development will create a return on our investment is based largely on absorp4on rates. Unfortunately,
there is no fixed rate that will allow us to predict the speed at which our units sell. The absorp4on rates used for es4ma4ng the
Tallyn Ridge development will be a reflec4on of housing market analysis and predic4ons.
Frederick County Real Estate Analysis
Real Estate in Frederick County has been steadily increasing in recent years. Based on the housing market report from September
2015, we are currently si6ng in a seller’s market with a 2-3 month absorp4on rate, indica4ng that this could be an ideal 4me to sell.
Over the last year, both inventory and demand has increased for the county, as well as the average and median prices for homes.
Though home prices have been consistently rising, more buyers can afford to make purchases because of the historically low
interest rates that we’ve been facing.
Fortunately for our development, the number of single family homes and townhouses sold in the last year has increased as well.
(Townhouses have seen a 15% increase in the last year. Single-Family homes have seen a 21% increase in the last year). Pending
homes (under contract) have been consistently rising in the county as well. This September had 358 pending homes, a 13% increase
from the year before. Should these trends con4nue, all six unit types could sell rela4vely quick. However, changes in the interest
rates over the next few years could slow or speed up this process.
Op0mis0c
In taking an op4mis4c view of the housing market in the next few years, an ideal absorp4on rate for the development would be 2
months per unit. This rate favors current market analysis and would allow the development to break-even quickly. Though ideal, this
rate lacks considera4on for future specula4on into the real estate market. There has been a large amount of debate between
economists as to where this market is heading. The recent Urban Land Ins4tute (ULI) report suggests that we can expect to see
sustainable growth through 2017 as net job growth is expected to be 2.9 million per year. However, changes in interest rates are
unpredictable. Currently, 30-year fixed mortgage rates have managed to stay below 4%. A 1% increase in those rates could reflect a
5% increase in housing prices. Rising interest rates will cause a reduc4on in the affordability of buyers, a risk we must account for.
Pessimis0c
If Bowman Consul4ng were to approach this development with a slightly more pessimis4c view of future markets, a more suitable
absorp4on rate would be 6-8 months. This approach will distance our break-even point and lengthen our 4me in the red, but it
considers a large amount of poten4al risk. Our economy, for the most part, has been largely cyclical. Our historically low interest
rates have inflated the en4re economy and the housing markets alike. Some economists are fearful that we may be headed for a
second housing “bubble”. If this holds to be true, we could expect some trouble in selling our units completed in later phases and
could poten4ally face a loss on the overall project. Another factor we must consider is our direct effect on the local housing market.
In September of 2015, Frederick had 1,398 total lis4ngs on the market. Our development plan allows us to construct and list 441
residen4al dwellings onto the market. That’s roughly 32% of the current total lis4ngs. An influx of new lis4ngs could weaken
demand and slow down our absorp4on process.
FINANCIAL ANALYSIS
54 Minutemen C���������� G����
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Absorp0on Rates Report
Our Base Process
Taking a realis4c approach of the market and our development’s mul4ple types of housing units, we’ve decided to use dynamic
absorp4on rates to determine how long our homes will sit on the market. These rates will change yearly with the expected change
in demand.
Year 1 Absorp0on Rates
Co�age: 70 days
Estate: 80 days
Single Family: 65 days
Townhouse: 65 days
Summary
♦ The nature of real estate markets is unpredictable.
♦ Though the housing market has been favorable to sellers in recent periods, a looming real estate bubble could dras4cally alter
the financial success of Tallyn Ridge.
♦ Both the pessimis4c and op4mis4c approaches offer visible benefits and drawbacks.
♦ Each individual type of unit will have a unique absorp4on rate
♦ Our absorp4on rates will likely change yearly based off expected changes in demand
Scenario Analysis
Type of Housing Optimistic (Months) Base (Days)
Conservative (Months)
Cottage 2 65 6
Estate 2.5 85 7
Single Family 2.5 75 7
Townhouse 2 70 6
Cash Flow Analysis FINANCIAL ANALYSIS
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TALLYN RIDGE RCMC PROPOSAL 2016
UNIVERSITY OF MASSACHUSETTS AMHERST
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FINANCIAL ANALYSIS
56 Minutemen C��������� G��
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Break-Even Analysis
A major point of interest to poten�al investors is how quickly our project will move from the red to black. This transac�on from loss
to profit is ul�mately described as the break-even point. Based off current project costs and gross sales revenue, we can expect our
Tallyn Ridge Development to move into posi�ve cash flow between years 4 and 5 (between 2018 and 2019). Due to extremely large
deficits from high construc�on costs, Bowman can expect the development to run in the nega�ve for the first three years.
As units con�nue to be completed and our sales rise, we will approach a strong margin of profit. These projec�ons assume that our
predic�ons of future real estate markets will hold true, and that our absorp�on rates will not deviate strongly from expecta�ons.
Because our development focuses en�rely on selling rather than ren�ng, we can expect large chunks of profit as homes sell. This
will allow us to move quicker into profit and will place more liability on the lenders that provide mortgages to homeowners.
SITE DEVELOPMENT
57 Minutemen C��������� G��
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Overview
⇒ Site Plan
⇒ Geo-Tech
◊ Analysis
◊ Landscaping
◊ Topography & Grading
⇒ Site Development
◊ Site U"li"es
◊ Stormwater Management
◊ Waste Management
The future home of Tallyn Ridge is nestled on the northeast sec"on of Reichs Ford Road
and Pinecliff Park Road in Frederick County, Maryland. Currently a cornfield with wooded
areas surrounding the perimeter. There are exis"ng single family homes to the east and a
stream valley to the North.
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TALLYN RIDGE RCMC PROPOSAL 2016
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Site Plan SITE DEVELOPMENT
SITE DEVELOPMENT
59 Minutemen C��������� G��
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Geo-Tech Analysis
Analysis
A�er an analysis of the exis�ng site condi�ons there have been Several Environmental Site Designs (ESD) features planned for the
Tallyn Ridge Development. Included in the field explora�on were 12 Standard Penetra�on Tests (SPT). The organic ma5er content
in the soil around the area is roughly 2%, with the slope between 15-25%. Any area with medium to high plas�city must be
removed before construc�on. All on-site soil is suitable for reuse.
Topography & Grading
The exis�ng Tallyn Ridge site primarily consists of uneven topography. The
highest eleva�on is on the western boundary side of the sight. This area
will require the most amount of site work. The only nearby water source is
Monocacy River is located on the northwest side of the site and flows
south and emp�es into the Chesapeake Bay. The river does not interfere
with the site. During the site construc�on the exis�ng waterways will be
converted into four func�oning ponds.
Landscaping
The two major types of trees on Tallyn Ridge are shade and evergreen trees. There is a high volume of shade trees lining the major
roadways and adjacent to the houses. The placement of these shade trees will provide an adequate amount of shade for the
houses, which will prevent the homes from absorbing heat, thus cu?ng down on energy usage from air condi�oners during the
summer months. The shade and evergreen trees provide privacy and block out noise. They will also provide a beau�ful view
during the foliage months, which will increase property values. The second type of major tree on this development are evergreen
trees. Evergreen trees keep their foliage year round, crea�ng a wind barrier and reducing energy use for hea�ng purposes during
the winter months. Like shade trees, evergreen trees also provide adequate shade during the summer months..
Vacant Lot Sustainable Landscaping
One of the lots, Parcel 55 has no construc�on
planned. We plan to remediate the site into a nature
park and natural classroom. A walking path from Par-
cel 0742 will be installed to eliminate the financial
and environmental burden of an addi�onal road.
This land will help preserve local wildlife while ins�l-
ling a sense of community and connec�on to nature.
SITE DEVELOPMENT
60 Minutemen C��������� G��
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Site Development
Site U�li�es
All site u�li�es follow the Specific Plan regula�ons. The site u�lity lines run through the middle of the road, tying into two pre-
exis�ng lines which minimize the costs by finding the most direct route to each household. Sanitary lines are sized at 8” pvc
diameter and secondary lines are 6” pvc diameter. Water services are provided by the town. Water main lines are sized at 8” DIP
diameter and secondary lines are at 1” DIP diameter. Natural gas services have been sized to 6” at 60 psi.
Stormwater Management
In the Tallyn Ridge development approximately 0.48 acres is covered by a 100 Year Floodplain. There is a zone AE floodplain of
which is associated with the Monocacy River and is located on the northwest side of the site. Excess storm water will be piped into
stormwater drains located throughout Tallyn Ridge. Proposed culverts will be implemented to connect the two already exis�ng
culverts just outside of the site. The exis�ng culverts discharge the runoff on the south side of Reich’s Ford Road into open channels
reducing the drainage because of the installa�on of the 4 ponds. Alterna�ve methods for stormwater management on Tallyn Ridge
include rain gardens and permeable pavement. Other precau�ons taken include: riprap inflow protec�on, rock outlet protec�on, silt
fences and curb inlet protec�on. Vegeta�on will also be planted in disturbed areas, which will prevent erosion and runoff. Sediment
control prac�ces will remain in place during grading, seedbed prepara�on, seeding, mulching and vegeta�ve establishment per the
Standards and Specifica�ons for Vegeta�ve Stabiliza�on. Inspec�ons are required that will be overviewed in our scheduling for
storm water management including pre construc�on mee�ngs, comple�on of sediment control measures and prior to modifica�on
or removal of sediment control.
Fencing & Storm Water Protec�on Plan
Frederick County, Maryland has an average rainfall of about 41” a year, a li5le more than the na�onal average of 30”. Through the
Storm Water Protec�on Plan (SWPP), Minutemen Construc�on is devoted to limi�ng the disturbance of the local environment. All
exis�ng wetlands will be protected with silt fencing. We will also be following the Standard Erosion and Sediment Control Notes per
the road improvement plans. All erosion and sediment control measures will be inspected and approved by the agency inspector or
environmental compliance & Fred co. inspector. Minutemen Construc�on is obligated to ensure that all runoff from these disturbed
areas will be directed to sediment control devices.
PROJECT ESTIMATE
61 Minutemen C��������� G��
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Overview
⇒ Land Development Es�mate
⇒ Home Es�mate
Due to the large scale of this development, there are many factors considered in evalua�ng the
feasibility of this project pertaining to the site development. Site work scheduling and es�ma�ng have
been directly coordinated with sales forecasts to ensure the land will develop at an equivalent rate to the
number of proper�es sold. This process allows us to both fund land development with less financing, as
well as limit losses should one of our exit strategies need to be implemented.
A significant por�on of the site development is a0ributed to earthwork. Our quan��es reflect an
adjustment of 20% loss to compac�on, as well as a 35% loss in delivered material. The delivery loss
includes a considera�on for the delivered material to be at 75% compac�on, as well as a 10% loss for
incomplete loading errors and material loss during transporta�on. All calcula�ons have considered the
geotechnical report of the site, which does not indicate any significant issues that would add cost or �me,
although the con�ngency for the total site development was adjusted for any unforeseen problems with
earthwork.
All site u�li�es are es�mated to terminate at each home, and connec�ons to the structure have
been calculated in the home construc�on cost. We have nego�ated the natural gas installa�on to be fully
funded by the provider, and although we have es�mated full costs for telephone and cable service, we
expect these costs to be nego�ated to a lower price with Verizon and Comcast service providers as well.
The construc�on of a $600,000 li= sta�on has been included in the financial analysis and is scheduled to
start early in Phase I to allow homes to be occupied as soon as possible.
Offsite improvements to exis�ng roadways and u�li�es have been adjusted to reflect a higher cost
of working with local municipali�es and on public property. The site development con�ngency has been
adjusted for this por�on of the project, in addi�on to funds an�cipated for damage to exis�ng public and
private property. Overall, our team is confident in the accuracy of our site es�mate, allowing us to best
schedule project phasing and maximize profit.
PROJECT ESTIMATE
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TALLYN RIDGE RCMC PROPOSAL 2016
UNIVERSITY OF MASSACHUSETTS AMHERST
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Land Development Es�mate
PROJECT ESTIMATE
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TALLYN RIDGE RCMC PROPOSAL 2016
UNIVERSITY OF MASSACHUSETTS AMHERST
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Land Development Es�mate
PROJECT ESTIMATE
64 Minutemen C��������� G��
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Estate Es�mate
PROJECT ESTIMATE
65 Minutemen C��������� G��
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Townhome Es�mate
PROJECT ESTIMATE
66 Minutemen C��������� G��
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Single Family Home Es�mate
PROJECT ESTIMATE
67 Minutemen C��������� G��
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Co�age Es�mate
PROJECT MANAGEMENT
68 Minutemen C��������� G��
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Overview
⇒ Company Values
⇒ Safety
⇒ Company Structure
⇒ Jobsite Prac�ces
⇒ Site Logis�cs
⇒ Phasing
⇒ Scheduling
Minutemen Construc�on Group is commi�ed to providing a top quality product to the
owner. Our project management team consists of industry professionals dedicated to
providing a safe work environment. We have a zero tolerance policy for work related
accidents. Here at Minutemen Construc�on we have built a reputa�on of providing the
owner with on �me project delivery well within the budget restraints. It is our goal to
provide the future home buyers of the Tallyn Ridge development with a sustainable home
in which they can take pride in the ownership.
PROJECT MANAGEMENT
69 Minutemen C��������� G��
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Values
“Minutemen Construc�on’s core values provide the best quality service to the project owner
and homebuyers. We op�mize our available resources and build long las�ng sustainable
homes delivered on �me and within budget.”
Safety
All of our core values are equally important to one another, but if one value had to be slightly more important, it would be safety.
We must ensure that everybody is safe during work and more importantly when they go home to their families every night. It is the
way we make sure our work is being completed the correct way.
Customer Sa�sfac�on
Here at Minutemen Construc1on Group we pride ourselves on customer sa1sfac1on. Throughout the building process we want to
ensure that we maintain a professional rela1on with our clients and subcontractors. We use 1me management prac1ces to deliver
the project on 1me and make sure the owner and a clients are sa1sfied with the end results.
Employee Work Environment
Minutemen construc1on values employee engagement in all aspects of the working environment. Providing a stable work
environment relates directly to the way an individual works. We like to provide both educa1onal and fun ac1vi1es to encourage this
engagement. We value the quality of the workplace for our employees. This helps us as a company to ensure our comple1on of
work is produc1ve and effec1ve.
People Rela�ons
We strongly value the rela1onship between Minutemen Construc1on and our clients. Throughout each project we provide our
clients with surveys to ensure sa1sfac1on and improve in any areas indicated. Building trust with others to further our rela1onships
as projects are being built is the goal. Most of our projects come from repeat clients because they were sa1sfied with our work.
Ingenuity
Crea1ng solu1ons for difficult situa1ons is always effec1ve. On any construc1on project there will be unexpected situa1ons that will
challenge us everyday. In order to overcome those obstacles, we are confident that we have the ingenuity in our employees and
resources to bypass those challenges.
PROJECT MANAGEMENT
70 Minutemen C��������� G��
UNIVERSITY OF MASSACHUSETTS AMHERST
4 YEAR PROGRAM
Safety
Minutemen Construc�on Group Safety Statement
Here at Minutemen Construc1on we take pride in sending everyone on site home safely at the end of the day. We will have our
safety officer performing weekly inspec1ons to make sure all OSHA regula1ons are being met and complaints are dealt with. On top
of these inspec1ons, there will be a mandatory safety mee1ng held by the safety officer. OSHA 30-hour cer1fica1ons will be
required for all project managers and OSHA 10-hour cer1fica1ons for on-site supervisors and workers. Subcontractor foreman will
also be required to give weekly “toolbox talks” workers on site. All safety talks will be documented and kept with construc1on
documents. Subcontractors will be required to show documenta1on showing that all employees have passed a drug screening
within the last 6 months. All visitors are required to be accompanied by a Minutemen representa1ve when on site.
All workers and visitors must comply with the following guidelines:
♦ Hard hats and vests along with any other OSHA required PPE to be worn at all 1mes
♦ Non-construc1on personnel to be accompanied by a Minutemen representa1ve at all
1mes
♦ Any accident on site requires a full site shut down and inves1ga1on
♦ Each subcontractor must keep a clean and organized work area to reduce conges1on
♦ First Aid kit will be located in the on site construc1on trailer
First Aid
All first aid and lifesaving equipment will be on site, located inside trailer. Minutemen Construc1on staff have the required training
to use life saving equipment.
Tallyn Ride Development Safety Plan
Minutemen Construc1on Group has created a site specific safety plan for the Tallyn Ridge Development. We will be providing
construc1on fencing which will surround the current phase of construc1on. All loca1ons shown on build-out map. There will be a
huge emphasis put on pos1ng signage which will be clearly labeled around the site.
Entrances and exits are designated for all types of construc1on vehicles and equipment without compromising safety, as well as
minimizing residents inconveniences, traffic delays, and damages. These entrances have been determined and are clearly shown on
our site logis1cs map per phase. All construc1on entrances and exits will have locks and clearly labeled for safety and security
reasons.
PROJECT MANAGEMENT
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Company Structure
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PROJECT MANAGEMENT
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Company Structure
Design Team
Architects
Minutemen Architect's have customized each house to meet set guidelines. We have incorporated different design features
into each residen1al dwelling to best fit the community needs based on our market analysis. The architects worked with
the sustainability team to come up with an affordable efficient design that maximizes profit. Everything that occurs must be
approved by our architects. Our architects are trained to complete the vision of the proprietor and ensure the construc1on
team works to suit those requirements.
Engineers
Minutemen Engineers are highly trained individuals that give specific instruc1ons to the Construc1on Team to solve the
issues of different structures and u1li1es. They work hand in hand with our architects to ensure they are on the same page
and are giving the construc1on team informa1on to the best of their abili1es.
Sustainability Consultants
Our sustainability consul1ng services are in place to support Minutemen Builders’ commitment to environmental
stewardship. We provide analysis on the most effec1ve and financially viable ini1a1ves towards resource efficiency. We are
involved with the planning and execu1on of the steps necessary to achieve any sustainability goal. We provide the
protocols and guidelines to implement these strategies throughout development.
Business Team
The Business team is responsible for calcula1ng the sales prices of the different units, different financial modeling scenarios, sales
strategies and market analysis. Our analysts are experienced team members ensuring values are as specific as possible in order to
make finances simple. The team facilitates the sales strategies that will work best in our target audience and determines the best
marke1ng tools to reach them. The financial team is in charge of reviewing es1mates and construc1on costs to make sure
everything is expec1ng to come in under budget and that all the housing sales are performing as predicted.
Construc�on Team
The Construc1on team’s role is to provide scheduling and es1mates for the en1re project. They also put together many other
aspects of the project including site logis1cs and job site prac1ces.
Our construc1on team safely conducts all ac1ons that occur on and off site in terms of 1ming and working to the best of our ability.
This team works closely with the architects and engineers every day to relay instruc1ons given by the design team.
PROJECT MANAGEMENT
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Company Structure
Senior Project Manager
The Senior Project Manager spends most of his/her 1me in the office but is on the field when needed. Minutemen Senior
Project Manager’s are considered the boss in the office and on site. His/her responsibili1es include being the master
scheduler. In addi1on, he/she is responsible for holding mee1ngs when needed. Our senior project managers are required
to hold weekly mee1ngs in order to ensure constant progress updates. They are in charge of long term scheduling which is
crucial to make sure deadlines are met and the project finishes ahead of schedule.
Responsibili�es:
♦ Master Scheduler
♦ Project Finances
Superintendent
The Superintendent is responsible for being on site to oversee day to day opera1ons. His/her responsibili1es include
coordina1ng subcontractors to make sure the job progresses smoothly and on schedule along with holding weekly
subcontractor mee1ngs. Our superintendent's serve as the boss on the job site. Addi1onal du1es include short term
scheduling, making weekly schedules, and daily progress, aLending the weekly mee1ngs and safety reports.
Responsibili�es:
♦ On Site
♦ Coordinator
♦ Weekly Subcontractor Mee1ngs
♦ Weekly Schedules
♦ Daily Reports (Progress and Safety)
Safety Supervisor
Our safety supervisor is a qualified OSHA approved professional that is on site at all 1mes. He or she will conduct weekly
safety mee1ngs to make sure all subcontractors are aware of the safety procedures to follow on ours or any jobsite. They
will walk the sites to ensure on-site safety and that all OSHA regula1ons are being followed.
Responsibili�es:
♦ Conduct Weekly Mee1ngs
♦ Walk Site to ensure on-site safety
♦ Have availability to answer any and all safety ques1ons
PROJECT MANAGEMENT
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Company Structure
Project Engineer
Minutemen Project Engineers spend all of his/her 1me on site or in the field office. He/she is responsible for most of the
changes on site including both submiLals and RFI’s. Project Engineers are also responsible for taking on the weekly mee1ng
notes, wri1ng monthly reports as well as dealing with minority repor1ng to make sure our company as well as
subcontractors are following their contracts the correct way.
Responsibili�es:
♦ SubmiLals & RFI’s
♦ Mee1ng Notes
♦ Monthly Reports
♦ Minority Repor1ng
Field Engineer
At Minutemen Construc1on, our field engineers have great communica1on skills in a line of work where businessmen are
dealt with every day to make the best decisions possible. Minutemen Field engineers are trained to constantly be moving
on site dealing with high pressure situa1ons at all 1mes. In a line of work where the unexpected happens, our field
engineers are here to successfully deal with those situa1ons.
Responsibili�es:
♦ Plan Research
♦ Stage Planning
♦ Long Term Plans
♦ Install & Test Equipment
♦ Fulfill Safety Requirements
Subcontractors
Minutemen Construc1on is hiring all subcontractors that will be u1lized during each phase of construc1on. Each
subcontractor will need to pass a screening in which they need to submit safety ra1ngs from previous jobs and examples of
their quality of work. It is the responsibility of the subcontractors to perform all work while Minutemen Construc1on
monitors the quality of work being performed and ensures the construc1on project stays on schedule.
PROJECT MANAGEMENT
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Jobsite Prac�ces
Quality Control
In order to ensure a quality finished product throughout all phases of construc1on, quality control is an essen1al process that must
be ensured for the well being of the residents. It is essen1al to ensure that the homeowners are sa1sfied with the purchase of their
homes. Minutemen Construc1on has developed standards in order to confirm that the quality of our items is being coordinated
correctly and efficiently.
We guarantee the quality of our finished product through Minutemen Construc1on’s quality regula1on plan. We ensure that all
ac1vi1es throughout construc1on phases follow the scope of work. In order to ensure adequate work performance there will be a
daily walk-through following a site safety check. The finished project will be completed under the oversight of the design team,
builders, and management and will surpass the owner’s standards. We ensure that everyone working on our sites adhere to the
Minutemen Code.
The Minutemen Code
-Ethics
-Integrity
-Trust
-Training
-Teamwork
-Leadership
-Recogni�on
-Communica�on
PROJECT MANAGEMENT
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Site Logis�cs
Entrances/Exits
The project team has created a site logis1c map per phase which clearly shows the designated truck route. All truck routes have
been analyzed to minimize traffic conges1ons, limit residen1al disturbance and ensure safety.
The main entrance access route that will be u1lized will be located on Pine Bluff Road. The main truck Exit will be located on Reichs
Ford Road. These designated site access loca1ons allow for beLer truck traffic and flow on site and minimal traffic disrup1on. By
having a direct loop for trucks to enter and exit will eliminate the need for the trucks to have to turn around and create conges1on
on the site.
Please refer to the site logis1cs map per phase. All entrances and exits have been planned and allocated to minimize destruc1on of
roadways and traffic delays per phase of construc1on. The preven1ve measures men1on will dras1cally minimize resident
displacement and concerns while avoiding city and municipal fines.
Gravel Pad
As a transi1onal and preven1ve ground, entrances and exits must be equipped with a barrier gravel will be laid on the ground of
every truck and heavy equipment entrance and exits. This will help control and reduce public road pollu1on caused by the tracking
of mud and dirt out of the work zone.
An Example of a gravel pad truck wash site
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Site Logis�cs
Construc�on Trailer Loca�on
Minutemen’s construc1on trailer will be located adjacent to Pine Bluff
Road. This area will be undisturbed during all phases of construc1on
making it an ideal loca1on. By placing the trailer in this loca1on the
project team will be able to monitor the construc1on vehicle traffic in
and out of the site ensuring that all drivers are respecRul of the
surrounding neighbors and limit dirt and other debris on the roadway.
Site Restroom Facili�es
There will be a permanent set of portable bathroom facili1es located adjacent to site trailer. With con1nuing growth of the site,
facili1es will be located within rela1ve distance to ac1ve series of construc1on depending on the current phase.
Dumpsters
Dumpers loca1ons will be shiSed and depending on the current phase of construc1on. stage, there will be two main areas in which
dumpsters should always be kept. There will be specific dumpsters for different types of materials. This will make the opera1on
more environmentally friendly. Waste will be sorted and recycle before disposal, minimizing waste material des1ned for landfills.
Types of dumpsters located on the site:
◊ Metals
◊ Wood
◊ Recycling
◊ Waste
Parking Loca�ons
There have been certain areas alloLed for worker parking. There is roughly 2000 square feet of parking adjacent to the construc1on
trailer. This will give parking access to the project team staff and any visitors to the site. We have also placed a 30,000 square foot
lot adjacent to Pine Bluff Road that will give workers convenient access to the site.
An Example of a dumpster array
PROJECT MANAGEMENT
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Phasing
PHASE I LOGISTICS
PROJECT MANAGEMENT
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Phasing
PHASE II LOGISTICS
PROJECT MANAGEMENT
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Phasing
PHASE III LOGISTICS
PROJECT MANAGEMENT
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Phasing
PHASE IV LOGISTICS
PROJECT MANAGEMENT
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Phasing
The Tallyn Ridge development will be built in a total of 4 phases. Within each phase the ac1vi1es taking place are site development,
site u1lity installa1on, road construc1on, and home construc1on. We have designed our master construc1on schedule to match our
financial plan to sell the 441 units which consist of estates, townhomes, single family homes, and coLages. By breaking down each
phase into these specific ac1vi1es allows Minutemen Construc1on to maximize efficiency and meet our schedule deadlines.
Site Development
There is a substan1al amount of earthwork that needs to take place due to the uneven terrain of the Tallyn Ridge Development.
According to the cut/fill map each phase requires soil to be removed and relocated to other areas of the site. We have designated
appropriate areas on site in which excess material can be stored. It is important that we start the cut/fill earthwork to allow the site
u1li1es to follow behind. Once home construc1on is complete per phase we will be landscaping and stabilizing the earth as part of
the site development.
Site U�li�es
The Tallyn Ridge Development has several site u1li1es that will be installed. These include electric, water, natural gas, and sanitary
lines as well as stormwater management structures which include drainage fixtures and man holes. We will be working with local
cable and phone companies to coordinate the installa1on of the cable and phone lines. We are very confident that our schedule
reflects the correct dura1on in which it will take for these u1li1es to be installed.
Road Construc�on
Road construc1on consists of sidewalks, public, and private roadways in the Tallyn Ridge Development. Road construc1on will begin
once the site u1li1es have been installed in each phase. We have decided to install the road base and first course and then wait to
install the final course and sidewalks un1l aSer the heavy construc1on takes place in each phase. This method of construc1ng the
roadways will allow for minimal damage to the roads and sidewalks during home construc1on.
Home Construc�on
In order to guarantee the reliability of our home construc1on schedule for the estate, townhomes, single family homes, and
coLages we have designated a certain amount of construc1on crews to be assigned to each type of home per phase. We are
confident that our superintendents will be able to monitor the progress and quality of each type of home during construc1on.
PROJECT MANAGEMENT
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Master Schedule
PROJECT MANAGEMENT
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Standard Co�age Schedule
PROJECT MANAGEMENT
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Standard Single Family Home Schedule
PROJECT MANAGEMENT
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Standard Townhome Schedule
PROJECT MANAGEMENT
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Standard Estate Schedule
RISK ASSESSMENT
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Overview
⇒ Risk Analysis
⇒ Sensi�vity Analysis
⇒ Exit Strategy
We understand that all things do not go as planned. To capitalize on gains and make the
most out of the investment, preparing different scenarios for pessimis�c and op�mis�c
views is mandatory for a successful project. The risk analysis sec�on will include different
circumstances that show poten�al outcomes. The sec�on provides number variances and
formulaic outcomes for risk in the project.
RISK ASSESSMENT
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Risk Analysis
Overview
Financing the Tallyn Ridge project will prove to be extremely cost exhaus(ve and risky. There are a large number of factors that
could dras(cally alter the financial success of the development. We must acknowledge these risks and make any prepara(ons
necessary to mi(gate financial loss.
Weather/Natural Disaster
An uncontrollable risk to our financial success is the weather. Changes in weather, storms, and natural disasters could slow
construc(on and cause las(ng damage. Although Frederick County is rela(vely stable in terms of weather, it is actually more at risk
to Tornado Damage than both the state and na(onal average. The area is also suscep(ble to hurricanes, flooding, and even snow
storms. In order to mi(gate these risks, we must properly protect our equipment during construc(on and ac(vely recommend
strong home insurance to our buyers.
Construc�on Risk
Construc(ng 441 dwelling units over 4 phases will require a number of workers and equipment. There are a number of risks that we
must be prepared to face on a daily basis. Our equipment may become damaged, our workers may be injured, and our units may be
constructed improperly. All of these events could prove to be costly, (me consuming, and could even hurt sales. In order to avoid a
large hit to our financial success, there must be effec(ve site management to ensure smooth opera(ng.
Market Risk
Many economists are fearful that we are currently looming in another housing bubble with poten(al consequences even worse than
the last recession. Although Frederick Markets are currently very promising, extremely low interest rates could inflate our economy
and “burst” this bubble. If this holds to be true, we could be facing a significant financial loss on the project. If the market crash is
severe, we could lose the en(re project and be le; millions of dollars in the red.
RISK ASSESSMENT
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Sensi�vity Analysis
A project can take twists and turns and to be successful in earning profits, calcula(ng possible risks is helpful to see if an investment
is right. We provided different scenarios given revenue increases or decreases to show how the project will be affected given
certain circumstances. Numbers show Op(mis(c and Pessimis(c views on what could happen. UPDATE
Op�mis�c 5% Revenue Increase
Revenue: $206,564,119 *
Original Investment: $12,500,000
Pessimis�c 5% Revenue Decrease
Revenue: $186,891,346 *
Original Investment: $12,500,000
Op�mis�c 10% Revenue Increase
Revenue: $216,400,506 *
Original Investment: $12,500,000
Pessimis�c 10% Revenue Decrease
Revenue: $177,054,959 *
Original Investment: $12,500,000
*Calcula(ons found given Grand Totals from 2016-2025. Numbers for the Revenue calcula(on can be found in the “Tallyn Ridge:
Cash Flow Statement”.
RISK ASSESSMENT
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Exit Strategies
At points along development we have implemented various strategies to make the profitable exits possible, leaving us with no
remaining debt.
Exit Before Majority of Homes are Built
If we are required to exit before a majority of homes are built then we will sell all the proper(es that have been built plus land. We
will aKempt to sell the land for equal or more than we had purchased it for.
Exit for A4er the Homes are Built and They Have Not Been Filled in a Year
In order to s(ll gain revenue from unsold homes, we will offer two different rental op(ons. The first op(on is short-term furnished
leases targeted towards people who are in the area for a short dura(on (3 months—1year) for business un(l the home is sold. The
second op(on is to lease furnished units for vaca(on/extremely short term rentals through AirBnB. We can con(nue to keep this
strategy enacted for as long as the home is unsold.
Exit if Many Homes are Unsold Due to High Prices
If we have a lack of sales, one strategy we can enact is make a larger percentage of homes towards Sec(on 8 housing. This way we
can have more occupied proper(es, and s(ll gain revenue.
CONCLUSION
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This project has been inves(gated from many angles in order to access the actual feasibility. Our
market analysis explores the history and current status of the affected region as a whole. We have determined
from our analysis that the market is ready for this development. The housing units have been designed in
order to appeal to the target market that will increase our housing sales and minimize risk.
Our team agrees that this project has profitability from all angles if managed well from a team like
ourselves. Even when accoun(ng for risk and pessimis(c scenarios we determine that this is a good
investment for not just our company but for the community as a whole. The development of addi(onal homes
will bring new funds available to the local economy and secure a resilient stance in growing the community
poten(al.
We rest assured that this development will offer value for everyone involved. The company will be
closing in with a total of more than 32 million in net profit and, equally important, giving the gi; of
homeownership to the buyers involved and an encouraging investment to grow for Fredrick County.
We appreciate you for reading our proposal and look forward to your response.
CITATIONS
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Baltimore, Maryland (MD) income map, earnings map, and wages data (2013) Available at: http://www.city-data.com/income/income-Baltimore-Maryland.html (Accessed: 21 December 2015).
Economic, demographic, and real estate dynamics in Frederick, MD(2014) Available at:https://www.cityoffrederick.com/DocumentCenter/View/4518 (Accessed: 21 December 2015).
Frederick County QuickFacts from the US census bureau (2015) Available at: http://quickfacts.census.gov/qfd/states/24/24021.html (Accessed: 21 December 2015).
Frederick, Maryland (2015) in Wikipedia. Available at: https://en.wikipedia.org/wiki/Frederick,_Maryland#Education (Accessed: 21 December 2015).
Herbert, K. and Guzinski, D. (2015) Quick facts about MSMU - mount st. Mary’s university, MD. Available at:https://msmary.edu/about-the-Mount/quickfacts.html (Accessed: 21 December 2015).
Hood college - the college board (no date) Available at: https://bigfuture.collegeboard.org/college-university-search/hood-college (Accessed: 21 December 2015).
Schools, F. C. P. (2014) PROGRESS REPORT #26 – VOLUME I 2014 annual update to the bridge to excellence master plan. Available at: http://www.fcps.org/about/documents/ProgressReport26Volume1Part1.pdf(Accessed: 21 December 2015).
(no date) Available at: http://www.tuscaroracreek.com/wp-content/uploads/2013/12/New-Home-Frederick-MD.jpg (Accessed: 21 December 2015).
(no date) Available at: https://en.wikipedia.org/wiki/Frederick_County_Public_Schools_(Maryland) (Accessed: 21 December 2015).
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