City of Portland, Maine Thames Street Property Proposal Submitted by: Atlantic Bayside Development, LLC 50 Portland Pier, Suite 400 I Portland, ME 04021 p 207.828.1080 f 207.828.1048 email: jhanley@atlanticnationaltrust.com SALE OF PORTION OF CITY-OWNED THAMES STREET PROPERTY TABLE OF CONTENTS Letter of Interest Section 1 Proposal Requirements: 1. Proposal Form 2. Outline of Proposed Development 3. Financial Ability 4. Proposer & Development Team’s Ability to Complete Project Section 2 Selection Criteria: 1. Community Integration 2. Public Benefit to the City 3. Property Sale Price 4. Additional Financial Benefit 5. Proven Capacity and Relevant Experience Section 3 Drawings Section 4 Appendix Atlantic Bayside Development I Jack Rabbitt, LLC LETTER OF INTEREST May 4, 2017 Matthew F. Fitzgerald, Purchasing Manager City of Portland Purchasing Office, Room 103 389 Congress Street Portland, ME 04101 Re: Sale of Portion of City Owned Thames Street Property Dear Matthew: Atlantic Bayside Development’s proposal for purchase of the Thames Street property meets all of the key proposal goals outlined in the RFP. 1. Private Sector Development: The construction of 165,000 sf of mixed use retail, office and residential space and construction of structured and surface parking realizes the City’s significant private sector investment goal. Combining the Thames Street lot with the Marino property creates a 98,000 sf development parcel that meets the goals of the Eastern Waterfront Masterplan for the block west of Mountfort Street. This development is in the best long-term interest of the City. 2. Parking: Our proposal provides the 150 requested parking spaces to be leased to the City. An additional 361 parking spaces are provided in structured and surface parking on site. Additional parking as needed will be provided on leased and owned spaces off site. 3. Future Streets: We recognize the need for Mountfort Street and the New Connector Street for access to development in the Eastern Waterfront. Our proposal preserves the option for the City to purchase the Mountfort Street proposed ROW from Marino. Our plan also meets the City’s goal for pedestrian mid-block permeability. We are prepared to sell (or trade) to the City the Marino property east of Mountfort. This could create added value to the small, unbuildable City parcel and affords the City the opportunity to consolidate the entire block east of an extended Mountfort Street, fully realizing the vision of the Eastern Waterfront Masterplan. This proposal provides the maximum available benefit to the City from the sale of the Thames lot. Any other proposer will be limited to constructing a building no larger than 110,000 s.f. on the Thames parcel alone. Sale to another entity will ensure that Marino’s Fore Street property will be only minimally improved and will not realize its full potential value. Its continued presence will also diminish the future value of adjacent properties. Any opportunity to extend Mountfort Street or realize the development goals of the Eastern Waterfront Masterplan will be lost. We look forward to the opportunity to discuss the benefits of this proposal and are confident that it will prove to be the best value to the City and the future of the Eastern Waterfront. Sincerely, James Hanley, CEO Atlantic Bayside Development, LLC 50 Portland Pier, Suite 400 Portland, ME 04021 p 207.828.1080 f 207.828.1048 email: jhanley@atlanticnationaltrust.com Atlantic Bayside Development I Jack Rabbitt, LLC 7r - mill-Him? I SECTION 1 Proposal Requirements 1. PROPOSAL REQUIREMENTS Proposal Form Our completed and signed proposal form, including our acknowledgment of having received Addenda 1 and 2, is provided at the end of this section. Introduction Atlantic Bayside Development, LLC (“Atlantic”) and Jackrabbit, LLC owned by Mike Marino (“Marino”) have entered into a joint development agreement. The partnership will acquire the Thames Street property and combine it with Marino’s property located at 144 Fore Street, creating a larger and more developable block on the west side of the future Mountfort Street Extension. Over a five year period, Atlantic will develop two mixed use (office, residential and retail) buildings with approximately 165,000 square feet, and a 382-space parking garage. This proposal is in the best interest of the City because it best supports the vision of the Eastern Waterfront Master Plan (EWMP). Atlantic will immediately commence the City’s Site Plan Review process with Staff and the Planning Board for approval of a 92,000 square foot office building on the Thames Street lot. The Marino property will be modified in the short term, leaving the Veterans’ Administration and SMRT, Inc.; demolishing the middle portion of the existing building, and creating approximately 210 surface parking spaces on site. The parking will be made available to the office users during the day, and then the general public during nights and weekends. Over the next five years, Atlantic will submit plans to the City for another 62,000 square foot office building with retail on the first floor, commercial office and residential floors above, and a 382-space parking garage. Ultimately, new two-story residential units over ground-level parking will be constructed in the area east of Mountfort Street. The residences will be fronted by improved open green space along the anticipated Thames Street extension, complementing the soon-to-be-built Amythest Lot waterfront park. The final product will be the multi-use design with inter-block connectivity that the city envisions in the EWMP (see drawing #1). Outline of Proposed Development of Property a. Site Concept Plan 1 The Thames lot will be combined with the existing property owned by Mike Marino at 144 Fore Street (“144 Fore” or “Marino Property”) and a portion of the City-owned Railroad siding (“Railroad Siding”; which we are additionally proposing to purchase) to create a 2.25 +/- acre developable parcel running from Fore Street to Thames Street (see site concept plan drawing #2). This large-block development configuration conforms to the EWMP vision for the block west of the proposed Mountfort Street extension. The proposed development provides 153,000 +/- square feet of multi-use space including retail, commercial and residential uses in two adjacent 4-story buildings. A mid-block walkway, paralleling Thames Street in the character of Wharf Street farther to the west, will provide desirable pedestrian permeability. Structured and surface parking provide a total of 511 parking spaces. The development would be undertaken over a period of four to seven years, commencing with the building of a 92,000 square foot combined office and retail building on the Thames Street parcel as soon as a tenant is secured. Finding a tenant will not be hard given the heightened interest in development of the City’s eastern waterfront. SALE OF PORTION OF CITY OWNED THAMES STREET PROPERTY 1 Drawing #1 - View Looking West Surface Parking et re Phase I Mixed-use Development Drawing No. 1: Site Concept View Looking West St Thames Lot Proposal City of Portland RFP# 6917 w Ne Existing Cohen Buildings Atlantic Bayside Development, LLC New Parking Garage For e St ree t New Mixed-use Development n sio un Ex tfort ten St sio ree t n et tre Mo S es n te Ex am Th et tre Ha nc oc S es am kS Th tre et Drawing #2 - Phase II Development Site Concept Plan Atlantic Bayside Development, LLC Thames Lot Proposal City of Portland RFP# 6917 Drawing No. 2: Site Concept Plan Phase II Development Atlantic Bayside Development I Jackrabbitt, LLC SECTION 1 Proposal Requirements 1. PROPOSAL REQUIREMENTS (CONT’D 1. Phase I (see drawing #3) • 3 floors of retail and commercial office: 80,000 sf • 1 floor of 6 residential units: 12,000 sf • Surface parking 111 cars • Additional surface parking on combined Marino and City land east of Mountfort for 99 cars (City land to be leased and improved by the developer). Phase I construction respects existing VA and SMRT leases while demolishing the remainder of 144 Fore Street to provide surface parking. New Mixed-use Development Existing VA Clinic Existing Cohen Buildings Existing SMRT Offices Surface Parking Fore S et Stre treet eet t ee Str rt n tfo nsio n ou te M Ex Tham et es Str es Str eet E tre Tham xtensi Ne wS cock Han on Drawing #3 - Phase I Development 2. Phase II: Add Building 2 and structured parking (see drawing #4) Drawing No. 3: Site Concept View Atlantic Bayside Development, LLC • 3 floors of retail and commercial office: 53,000 sf Phase I Development • 1 floor of 4 residential units: 8500sf • Structured parking: 382 cars • Surface parking : 129 cars (combined Marino and leased City property) Thames Lot Proposal City of Portland RFP# 6917 New Mixed-use Development Phase I Mixed-use Development New Parking Garage Existing Cohen Buildings Surface Parking Fore S et Stre treet eet tr tS or ion ntf ns ou Exte M Tham et es Str es Str eet E Drawing #4 - Phase II Development 3 SALE OF PORTION OF CITY OWNED THAMES STREET PROPERTY Atlantic Bayside Development, LLC Drawing No. 4: Site Concept View xtens tre Tham t ee ion Ne wS cock Han 1 3. Phase II Alternate 1: Add Residential Townhomes (see drawing #5) • 11 townhomes on a podium over surface parking (in lieu of surface parking in Phase II) • Green space on City Thames lot east of Mountfort New Mixed-use Development Phase I Mixed-use Development New Parking Garage Existing Cohen Buildings New Townhome Development and Green Space Fore S et Stre treet eet et tre tS or sion tf n n ou te M Ex Tham et es Str es Str eet E tre Tham xtens Ne wS cock Han ion Drawing #5 - Phase II Alternate 1 (Townhouses) 4. Phase II Alternate 2: Alternate Building 2 (see drawing #6) Drawing No. 5: Site Concept View Atlantic Bayside Development, LLC Phase II Development - Alternate 1 • 3 floors of retail and commercial office space: 88,000 sf • 1 floor of 6 residential units: 13,000 sf • All parking to be located in adjacent (understood to be currently planned) structured parking Thames Lot Proposal City of Portland RFP# 6917 New Mixed-use Development Phase I Mixed-use Development Fore S et Stre treet eet et tre tS or sion tf n n ou te M Ex Tham et es Str es Str eet E tre Tham xtens Ne wS cock Han ion Drawing #6 - Phase II Alternate 2 (Full Block Development Atlantic Bayside Development, LLC Thames Lot Proposal City of Portland RFP# 6917 Drawing No. 6: Site Concept View Phase II Development - Alternate 2 Atlantic Bayside Development I Jackrabbitt, LLC SECTION 1 Proposal Requirements 1. PROPOSAL REQUIREMENTS (CONT’D) b. Project Timeline 1. Phase I – Development initiated at real estate closing • Design and Permitting - 9 months • Construction - 14 months • Elapsed time to occupancy - 23 months 2. Phase II – Initiated 9 months prior to VA lease expiration: April 2021 • Design and Permitting - 9 months • Construction - 16 months • Occupancy - May 2023 c. Future Roads and Rights-of-Way We recognize the importance of Mountfort Street and the new connector road to the development of the adjacent blocks as well as the new development at 58 Fore Street. To assist with this City goal, Marino will offer the Mountfort Street proposed right-of-way and his other property east of the proposed Thames Street development for City purchase (see drawing #7). This will enhance the value of the adjacent small City parcel for future development as well as open the opportunity to consolidate the entire block east of Mountfort as envisioned in the Eastern Waterfront masterplan. d. Parking Phase I – Parking Management Plan Phase I will have 210 surface parking spaces on the Thames Street lot and adjacent property owned by Marino and the City. This will provide a parking ratio of approximately 2.0 per thousand for the new office, existing VA, and existing SMRT office. It is envisioned that the City will lease the lot east of Mountfort to Atlantic for market rent until the garage is constructed. It should be noted that from a parking shared-use standpoint, the majority of the 210 surface spaces, less those for residential units, will be available for public use during nights and weekends. Atlantic would make these parking spaces available to the public on nights and weekends at market rates. In addition, transient parking for multi-day users will be accommodated as actual parking demand will allow. Some monthly parking will be available during weekdays and will be managed based on actual development parking demand. The parking lot will be managed with a windshield or license plate credential for office and VA parkers and a pay-and-display system for transient parkers. In addition, it is usual to consider on-street parking that will be included with the development. We estimate that the 16 on-street spaces along the Thames Street frontage and 6 or more new spaces made possible along the Hancock Street frontage will provide additional flexibility in meeting public parking needs. To the extent necessary, additional parking during the daytime will be managed through lease agreements with existing surface parking lots and parking garages in the area. Further, Atlantic owns and controls another parking garage (84 Marginal Way) and surface lot (26 Marginal Way) on the Peninsula. Atlantic could make 54 spaces available to the City at 84 Marginal Way on a 24/7 basis at market rates (see map on adjacent page). Further, Atlantic could make up to 200 spaces available to the general public at 26 Marginal Way on nights, weekends and holidays. 5 SALE OF PORTION OF CITY OWNED THAMES STREET PROPERTY 1 e For et Stre Marino Land Marino Land Trade or Sale to City Marino Licensed Access Unusable City Remaining Lot New Street eet ort Str Mountf sion Exten et ck Stre Hanco Thames Street Extension Thames Street Primary Development Parcel Secondary Development Parcel Drawing #7 - Proposal Property Configuration Atlantic Bayside Development, LLC Thames Lot Proposal City of Portland RFP# 6917 Drawing No. 7: Site Plan Proposal Property Configuration Marginal Way Parking Locations Atlantic Bayside Development I Jackrabbitt, LLC SECTION 1 Proposal Requirements 1. PROPOSAL REQUIREMENTS (CONT’D) Phase II – Parking Management Plan Phase II will include a 382 space self-park parking garage. This garage would provide a parking ratio of approximately 2.3 spaces per thousand for the office users. Given the mix of retail, office and residential use, we believe this parking ratio will be adequate. This adequacy is based on parking shared-use principals. The retail parking demand will likely peak during nights and weekends. Daytime retail parking demand will be captive to the neighborhood. The parking structure will be managed by a parking operator. The facility will be serviced by an automated/ gated Parking Access and Revenue Control System (PARCS). The PARCS will allow for use by the development office, retail and residential users as well as general public use primarily on nights and weekends. In addition, available on-street parking in this Phase will total 34 spaces along adjacent sides of Hancock Street and Thames Streets as described above; and the extension of Thames and a new street connecting Thames and Fore, both of which are anticipated to be constructed in conjunction with the new 58 Fore Street development.. It is also possible that the Mountfort Street extension may provide additional on-street spaces. This would be dependent on the long-term disposition of the Hamilton Marine Building. It is also assumed that there will be additional structured parking in the immediate vicinity by this time that would be able to meet the parking demands. Further, additional parking could be accommodated if the City amended the height requirements to provide for more levels of structured parking. Atlantic would make all of these additional parking spaces available to the public on nights and weekends at market rates. In addition, a plan will be developed to accommodate neighborhood on-street parking during “snow ban” periods. Use Parking Required Phase I Parking Supplied 341 City parking Comments New building + VA Clinic + SMRT 150 Surface parking on-site Parking off-site Total 491 Phase I & II 457 City parking 150 210 Developer + city-leased land 281 491 Obtain spaces from available area resources Phase I and Phase II new buildings New parking garage 382 Surface parking on-site 129 Developer + city-leased land 96 607 Obtain spaces from available area resources Parking off-site Total 607 Phase I and Phase II Alternate 479 City parking 150 New parking garage 382 Surface parking on-site Surface parking off-site Total Notes: 1. 2. 7 Phase I and Phase II new buildings + new townhomes 22 629 225 629 ‘Park under’ townhomes Obtain spaces from available area resources New development parking demand based on city ordinance requirements Developer-controlled off-site parking resource includes 54 spaces available 24/7 and 200 spaces available nights and weekends SALE OF PORTION OF CITY OWNED THAMES STREET PROPERTY v? I i?TFll-F? 7V SECTION 1 Proposal Requirements 1. PROPOSAL REQUIREMENTS (CONT’D) Financial Ability Atlantic would develop the combined 144 Fore Street and Thames Street property. Marino would contribute 144 Fore Street free and clear of any debt. The Atlantic Group would use cash to acquire the land. As such, the development partnership would have assembled all of the land with no debt. Atlantic would provide the additional equity to fund the development. Further, Atlantic has long standing, substantial banking relationships with 3 local banking institutions, all of whom have expressed interest in being part of this development. Atlantic is prepared to meet confidentially with City staff to discuss its financial capacity in further detail. Clear Demonstration of Proposer and Development Team’s Ability to Complete Project Both Marino and Atlantic have significant development experience and a proven track record. Mike Marino has been a small business owner and real estate investor in Portland for over 40 years. In addition to 144 Fore Street, Mike Marino has developed, owned and managed over 40,000 square feet of retail in the heart of Freeport’s shopping district. Atlantic has developed and owned over 1 million square feet of commercial office, retail, and warehouse properties throughout the United States. In Portland, the Atlantic Group was the catalyst for growth in the Marginal Way corridor starting with the AAA building in 2002. Atlantic went on to develop 63 Marginal Way (the Gorham Savings Bank building) and the InterMed Buildings in 2006 and 2008, respectively (see images adjacent to this page). As such, Atlantic has a demonstrated track record of success and a commitment to being a member of the Portland community. A financial feasibility analysis is available upon request. Additional members of the development team include SMRT Architects and Engineers, PC Construction and Walker Parking. The team has proven experience working together, with SMRT Architects and Engineers having worked with PC Construction for more than 2 decades and with Walker for more than 3 decades. • SMRT Architects and Engineers: SMRT has been working with Mike Marino on options for development of this site for many years. They have significant experience with the design of major projects in Maine including Mercy Hospital Fore River, Fore Street Office Building, the Gulf of Maine Research Institute, MaineGeneral Medical Center Alfond Center for Health, Long Creek Office Buildings, the redevelopment of Pineland Campus and 4 large correctional facilities for Maine Department of Corrections. They are currently working on a $61 million, 354,000 s.f. office project for L.L. Bean. SMRT employs a staff of more than 100 professionals. • PC Construction: PC Construction has built or rehabilitated some of Greater Portland’s and Southern Maine’s most iconic facilities including the Portland Museum of Art, Canal Plaza Towers, InterMed building, Martin’s Point Portland campus, IDEXX Synergy Center, LL Bean campus, Pineland campus and Bath Iron Works outfitting halls. Their full-service Portland office, which employs more than 50 construction professionals, is capable of undertaking and successfully executing the Thames Street Property project. Their in-house estimating services (including mechanical, electrical and plumbing estimating) will inform this project. • Walker Parking Consultants: Founded in 1965, Walker pioneered the field of parking consulting. They bring to your project the expertise of more than 280 employees from 16 domestic offices and 2 in the United Arab Emirates. Their expertise in parking design, parking consulting and master planning informs this project. Walker‘s local experience includes the Casco Bay Ferry Terminal garage, the University of Southern Maine garage, Auburn Municipal garage, Unum parking structure, as well as parking consulting and cost estimating for Colby College, Eastern Maine Medical Center and Maine Maritime Academy. A brief summary of our team’s relevant experience is provided in the Appendix. 9 SALE OF PORTION OF CITY OWNED THAMES STREET PROPERTY 1 LOCATION Portland, ME VALUE $22.2 million $20 million DELIVERY METHOD Design-Build 84 M A R G I N A L WAY CO R E A N D S H E L L B AY S I D E V I L L A G E S T U D E N T H O U S I N G START DATE April 2007 June 2007 COMPLETION DATES October 2008 August 2008 OWNERS Atlantic Bayside Trust, LLC Ed Marsh 207.828.1080 Located in Portland’s Bayside district, this development included a five-story student housing complex and the construction of the City’s largest office building in two decades. Atlantic Bayside Development Bayside Village Student Housing I Jackrabbitt, LLC PROJECT FEATURES • A new ten-story 107,000-square-foot building consisting of a six-story core and shell office building above a four-story, 533-space parking garage with three passenger PROPOSAL FORM (?Sale of Portion of City Owned Thames Street Property? RFP #6917 THIS SHEET MUST BE INCLUDED IN YOUR PROPOSAL The undersigned hereby declares that he/ she or they are the only person(s), ?rm or corporation interested in this proposal as principal, that it is made Without any connection with any other person(s), ?rm or corporation submitting a proposal for the same, and that no person acting for or employed by the City of Portland is directly or indirectly interested in this proposal or in any anticipated pro?ts which may be derived there from. The undersigned hereby declares that they have read and understand all conditions as outlined in this Request for Proposals, and that the proposal is made in accordance with the same. The bidder acknowledges the receipt of Addenda numbered: 1 com ANY ANIE: Atlantic BaySIde Development, LLC AUTHORIZED SIGNATURE: 5/4/17 DATE: Jim Hanley, CEO PRINT NAME TITLE: ADDRESS: 50 Portland Pier, Suite 400, Portland, ME 04021 PHONE NUMBER: 207 828-1080 FAX NUMBER: 207 828-1048 TYPE OF ORGANIZATION PARTNERSHIP, CORPORATION, INDIVIDUAL, OTHER: Partnership STATE OF INCORPORATION, IF APPLICABLE: Maine FEDERAL TAX IDENTIFICATION NUMBER (Required): 20-3071259 NOTE: Proposals must bear the handwritten signature of a duly authorized member or employee of the organization submitting a proposal. noun??- 9 93311:, VI I iil?iym. i? - a mum-+ Wu. MAINE ?1 . 0AM NOILQEIS (12w: mtg? SECTION 2 Selection Criteria 2. SELECTION CRITERIA Community Integration as Guided by the Eastern Waterfront Master Plan (25 points) The EWMP envisioned the consolidation of the City, Marino and Farley (now Cohen) properties to create two development blocks separated by an extension of Mountfort Street. Our proposal largely accomplishes this goal for the block west of Mountfort and leaves open the future opportunity to consolidate properties to the east if parties are willing. We would entertain selling to the City the Marino portion of the Mountfort ROW and the Marino property east of Mountfort (see drawing #7). This would fulfill the goal of the EWMP for two developable parcels as recommended by the EWMP Committee. This is noted and illustrated on Drawing 3 of the EWMP (see appendix). “The committee recommends this multi-pronged and integrated approach to development.” Developing the City only parcel as outlined in the current RFP was deemed by the committee on Drawing 4 (see appendix) to be a “fallback option.” Our proposal is the only proposal that can further this vision of the EWMP. All other proposals will negate the extension of Mountfort Street and divide the area into disparate unrelated parcels for the foreseeable future. Only 110,000 sf can be developed on the Thames parcel alone, as compared to 165,000 s.f. total buildout in our proposal. Additionally it severely limits the potential for the small City-owned parcel to the east (see drawing #8). Drawing #9 illustrates the potential to realize the EWMP, made possible by the sale/swap of the Marino property to the City. This proposal further complies with the “Statement of Principles for Redevelopment of the Eastern Waterfront” adopted 6/11/01 as follows: Character and Impact of Development - Our proposal meets these objectives by: • Providing additional structured parking close by the island ferry terminal. • Creating contemporary architecture that is compatible with the adjacent historic Old Port and more recent new construction in the India Street neighborhood. The architecture will create an aesthetic bridge between these neighborhoods and the future 58 Fore St development (see drawing #1). • Providing for a new Mountfort Street and establishing a new pedestrian mid-block connection to the east and west. • Preserving View corridors on both Hancock Street and Mountfort Street. • Designing the building to sustainable principles and minimizing impact on the adjacent community. • Enhancing the visual experience from the Eastern Waterfront trail by eliminating an unsightly parking lot and screening the mid-block structured parking from view. Mixed Use – Our proposal meets these objectives by: • Creating a mixed-use development that will activate a vital urban area with retail and restaurant uses at street level on Thames Street and Hancock Street. Commercial office space will provide active daytime use and evening activity will be enlivened by the residential use and adjacent hotel patrons. • Increasing public use of the waterfront by the proximity of office work force and new residences. Economically Responsible Development - Our proposal meets these objectives by: • Providing enhanced economic return to the City by increasing tax valuations of the subject property as well as surrounding properties. • Benefitting residents of Portland through improved parking and contribution of tax revenue. • Improving first impressions of the area for tourists arriving by ferry and cruise ships thereby promoting increased tourism. 1 SALE OF PORTION OF CITY OWNED THAMES STREET PROPERTY 2 Unusable City Remaining Lot w Ne Existing Cohen Buildings et re St Marino Licensed Access Existing Marino Building For e Stre et New Competitor Development Mo un Ex tfort ten St sio ree t n Ha nc oc es am kS Th tre es m a Th r St et re St et Drawing #8 - Competitor Development w Ne EWMP Development Vision et re St Remaining Cohen Site Phase I Mixed Use Development et Drawing No. 8: Site Concept Plan Competitor Development For e Thames Lot Proposal City of Portland RFP# 6917 Stre New Mixed-use Development Atlantic Bayside Development, LLC n sio n te x tE ee Mo un Ex tfort ten St sio ree t n Ha nc oc es kS am Th tre es am Th n sio n te x tE ee r St et re St et Drawing #9 - Phase II Alternate 2 Development Atlantic Bayside Development, LLC Thames Lot Proposal City of Portland RFP# 6917 Drawing No. 9: Site Concept Plan Phase II - Alternative 2 Development Drawing #1 - View Looking West Atlantic Bayside Development, LLC Thames Lot Proposal City of Portland RFP# 6917 Drawing No. 1: Site Concept View Looking West Atlantic Bayside Development I Jackrabbitt, LLC SECTION 2 Selection Criteria 2. SELECTION CRITERIA (CONT’D) Public Benefit to the City (25 points) The Atlantic proposal is the only plan that can accomplish the Eastern Waterfrtont Master Plan. Specifically, the Atlantic proposal combines the Marino property and the Thames Street Property into one large development block with future connectivity for Mountfort Street. This development also envisions a 382 stall parking garage shielded from surrounding view by new buildings. The new development will be a catalyst for future growth on the Hamilton Marine property and the 58 Fore Street project. In the alternative, a sale of the Thames Street property to a third party would leave Marino no alternative but to renovate 144 Fore Street and collect a reasonable rate of return on its existing structure. Stated otherwise, if Marino loses the RFP, his highest and best use is to continue to own and operate the existing real estate. This will leave the Eastern Waterfront a jumbled mix of individual parcels without a cohesive development plan (see drawing #7). a. Net New Jobs to the City: Atlantic is aware of several large companies located outside of the City of Portland that would be attracted to this high visibility waterfront location. Given the current lack of availability of large plate commercial office space in Greater Portland, there will be no problem with attracting net new jobs to the city. Phase 1 of the project will accommodate approximately 200 new office workers. It is reasonable to assume that a significant portion of new tenants will be relocating from outside the City. We believe that 100 net new jobs is achievable in Phase 1 alone. b. Future Mountfort Street Extension and New Connector Road Rights of Way: See Section 3.c. – Future Roads and Rights-of-Way. Property Sale Price (20 Points) Atlantic is prepared to pay $3.1 million for the Thames Street property. Atlantic is prepared to fund an escrow account with $3.1 million in cash and close with the city within 3 days of the award of the RFP with no contingencies. Additional Financial Benefits to the City (15 points) a. Net Property Tax Revenue: The proposed development will include a total of 165,000 +/- square feet and a 382 space parking garage with potential for 11 new townhomes. The combined cost will range from $50,000 to $75 million, generating approximately between $1 million and $1.5 million a year in property taxes. Further, this is the only proposal that is consistent with the Eastern Waterfront Master Plan, which all parties agree is the highest and best use of the Eastern Waterfront, and thus will provide for the optimal long term commercial development for the City. In addition, the combination of the Marino and Thames Street lot ensures the viability of the City’s lot east of Mountfort. As noted above, if the Thames Street property is sold to another developer, then Marino’s highest and best use is to renovate his existing structure. This would preclude combining Marino’s property and the City land east of Mountfort Street, which essentially makes the City’s land useless for future development. For this reason the City is being somewhat short sighted in selling only its land west of Mountfort. b. Parking: See parking plan in Tab 1 Proposal Requirements Section 3.d. Parking. 3 SALE OF PORTION OF CITY OWNED THAMES STREET PROPERTY 2 e For et Stre Marino Land Marino Land Trade or Sale to City Marino Licensed Access Unusable City Remaining Lot New Street eet ort Str Mountf sion Exten et ck Stre Hanco Thames Street Extension Thames Street Primary Development Parcel Atlantic Bayside Development, LLC Thames Lot Proposal City of Portland RFP# 6917 Secondary Development Parcel Drawing No. 7: Site Plan Proposal Property Configuration Atlantic Bayside Development I Jackrabbitt, LLC SECTION 2 Selection Criteria 2. SELECTION CRITERIA (CONT’D) Proposers Proven Capacity and Relevant Experience As previously highlighted, both Marino and Atlantic have significant development experience and a proven track record. Mike Marino has been a small business owner and real estate investor in Portland for over 40 years. In addition to 144 Fore Street, Mike Marino has developed owned and managed over 40,000 square feet of retail in the heart of Freeport’s shopping district. Atlantic has developed and owned over 1 million square feet of commercial office, retail, and warehouse properties throughout the United States, including many Portland properties. 5 SALE OF PORTION OF CITY OWNED THAMES STREET PROPERTY Atlantic Bayside Development Jackrabbitt, LLC DRAWINGS SECTION 3 Drawings 3. DRAWINGS This section includes the following drawings referenced in Tabs 1 and 2 of our submission: Drawing #1 - View Looking West Drawing #2 - Phase II Development Site Concept Plan Drawing #3 - Phase I Development Drawing #4 - Phase II Development Drawing #5 - Phase II Alternate 1 (Townhouses) Drawing #6 - Phase II Alternate 2 (Full Block Development) Drawing #7 - Proposal Property Configuration Drawing #8 - Competitor Development Drawing #9 - Phase II Alternate 2 Development 1 SALE OF PORTION OF CITY OWNED THAMES STREET PROPERTY l?an?n Ilr?dl WILD Drawing Mn. 1; 53: Cum Tram-unwrap: .- mum man-?t: L?l?n? I I I I I Atlantic Bayside Development I Jackrabbitt, LLC Atlantic Bayside Development, LLC Thames Lot Proposal City of Portland RFP# 6917 Drawing No. 1: Site Concept View Looking West Surface Parking w Ne Existing Cohen Buildings St New Parking Garage et re Phase I Mixed-use Development Stre et New Mixed-use Development For e n o si n e xt Mo un tf Ex ort ten St sio ree t n es Ha nc oc kS m a h Atlantic Bayside Development, LLC Thames Lot Proposal City of Portland RFP# 6917 tre T et Drawing No. 2: Site Concept Plan Phase II Development r t S t e e es T m a h r t S E t ee New Mixed-use Development Existing VA Clinic Existing Cohen Buildings Existing SMRT Offices Surface Parking Tham es Str t e e eet r t S t r on o i tf s n en u o Ext M Tham et Ha treet es Str Atlantic Bayside Development, LLC Thames Lot Proposal City of Portland RFP# 6917 eet E Drawing No. 3: Site Concept View Phase I Development xtens ion Ne wS tre k c o nc Fore S t e e r St New Mixed-use Development Phase I Mixed-use Development New Parking Garage Existing Cohen Buildings Surface Parking Tham es Str t e e eet r t S t r on o i tf s n en u o Ext M Tham et Ha treet es Str Atlantic Bayside Development, LLC Thames Lot Proposal City of Portland RFP# 6917 eet E Drawing No. 4: Site Concept View Phase II Development xtens ion Ne wS tre k c o nc Fore S t e e r St New Mixed-use Development Phase I Mixed-use Development New Parking Garage Existing Cohen Buildings New Townhome Development and Green Space Tham es Str t e e eet r t S t r on o i tf s n en u o Ext M Tham et Ha treet es Str Atlantic Bayside Development, LLC Thames Lot Proposal City of Portland RFP# 6917 eet E Drawing No. 5: Site Concept View Phase II Development - Alternate 1 xtens ion Ne wS tre k c o nc Fore S t e e r St New Mixed-use Development Phase I Mixed-use Development Tham es Str t e e eet r t S t r on o i tf s n en u o Ext M Tham et Ha treet es St Atlantic Bayside Development, LLC Thames Lot Proposal City of Portland RFP# 6917 reet Drawing No. 6: Site Concept View Phase II Development - Alternate 2 Exten sion Ne wS tre k c o nc Fore S t e e r St e r o F t e e Str Marino Land Marino Land Trade or Sale to City Marino Licensed Access Unusable City Remaining Lot New Street eet ort Str Mountf ion Extens et ck Stre Hanco Thames Street Extension Thames Street Primary Development Parcel Atlantic Bayside Development, LLC Thames Lot Proposal City of Portland RFP# 6917 Secondary Development Parcel Drawing No. 7: Site Plan Proposal Property Configuration Unusable City Remaining Lot w Ne Existing Cohen Buildings St Marino Licensed Access et re Existing Marino Building Stre et New Competitor Development For e n o si n e xt Mo un tf Ex ort ten St sio ree t n es Ha nc oc kS m a h Atlantic Bayside Development, LLC Thames Lot Proposal City of Portland RFP# 6917 tre T et Drawing No. 8: Site Concept Plan Competitor Development r t S t e e es T m a h r t S E t ee w Ne EWMP Development Vision St Remaining Cohen Site et re Phase I Mixed Use Development Stre et New Mixed-use Development For e n e xt Mo un tf Ex ort ten St sio ree t n es Ha nc oc kS Atlantic Bayside Development, LLC Thames Lot Proposal City of Portland RFP# 6917 n sio m a h r t S T tre t e e et Drawing No. 9: Site Concept Plan Phase II - Alternative 2 Development es T m a h r t S E t ee gvl.vvw mmgoz 5.1? 2, >3va Ex . . SECTION 4 Appendix 4. APPENDIX This section includes the following information referenced in Tabs 1 and 2 of our proposal: 1. 2. 3. 4. Eastern Waterfront Master Plan Drawing 3 (attached) Eastern Waterfront Master Plan Drawing 4 (attached) Location of Developer-Owned Off-Site Parking (attached) Development Team Qualifications (following) Development Team Qualifications As highlighted in Tabs 1 and 2, we have assembled a team with a proven track record of complex development, design and construction experience in Greater Portland and Southern Maine. A brief summary of our team’s relevant experience follows: Atlantic Bayside Development, LLC • 84 Marginal Way (with PC Construction) • AAA Building • Gorham Savings Bank Jackrabbit, LLC (Freeport Retail Properties) • Sea Birds - Lobster Cooker • American Eagle Outfitters • Banana Republic • Gap Outlet SMRT Architects and Engineers • Pineland Campus Redevelopment (with PC Construction) • MaineGeneral Medical Center Alfond Center for Health • Mercy Hospital Fore River • Gulf of Maine Research Institute Walker Parking Consultants • Casco Bay Ferry Terminal (with SMRT) • University of Southern Maine Garage • Auburn Municipal Garage PC Construction • 84 Marginal Way • 667 Congress Street • Martin’s Point Health Care Medical Office Building (with SMRT) • IDEXX Laboratories 1 SALE OF PORTION OF CITY OWNED THAMES STREET PROPERTY Atlantic Bayside Development Jackrabbitt, LLC SECTION 4 Appendix Pineland Campus Redevelopment New Gloucester, ME SMRT worked with The October Corporation, CB Richard Ellis - The Boulos Company and Pizzagalli Construction toward the rebirth of the Pineland Campus. The core campus, consisting of nine brick Colonial-Revival style buildings, was constructed in the early 1900’s as a state mental health treatment facility. Over subsequent years, the physical plant was expanded to eventually include several hundred acres of land and 19 inhabited buildings. SMRT performed facility assessments, including life safety analyses, of all 19 buildings. SMRT is responsible for architectural design for the rehabilitation of 18 buildings and architectural and structural design for the single new building. Pownal Hall, one of the original dormitory structures, now houses educational and business tenants. The Conference Center, formerly the Administration Building, serves as a meeting and gathering place for campus tenants and outside groups. MaineGeneral Medical Center Alfond Center for Health Augusta, ME With the goal of re-shaping and improving healthcare delivery, SMRT led the design team for this 192-bed regional replacement hospital. The 640,000 s.f. inpatient facility was designed and built using integrated project delivery (IPD), a first for hospitals in the Northeast. Three major initiatives -- evidence-based, lean and sustainable design -- guided development and informed the building’s program and layout, supporting efficiencies in energy consumption, staff utilization and the environment of care. The facility achieved LEED Silver certification. 3 SALE OF PORTION OF CITY OWNED THAMES STREET PROPERTY 4 Mercy Fore River Replacement Hospital Portland, ME Positioning the hospital for future consolidation of all patient services, SMRT partnered with FCFH to design Phase I of Mercy’s new Fore River Campus. Programming included outpatient diagnostic and treatment services, short-stay inpatient surgical beds and a women’s unit. Site design integrated expansive surrounding vistas and gardens. The team incorporated “lean” and efficient practices, stretching Mercy’s resources and enabling their mission to provide compassionate care for all. SMRT continues to work with Mercy to complete their vision for a fully consolidated campus. Gulf of Maine Research Institute Portland, ME An international research and education center, the GMRI advances the “dynamic fusion” of fishery scientists, marine biological technology researchers and science educators. Designing for maximum flexibility and cost efficiency, SMRT developed a lab module that facilitates scientific collaboration and equipment sharing among tenants, protects proprietary space needs and employs a repeatable structural grid and efficient mechanical/plumbing layout. GMRI’s exterior design reflects the industrial heritage of a working waterfront, while an interior public interface space features live and interactive digital educational exhibits. Atlantic Bayside Development I Jackrabbitt, LLC SECTION 4 Appendix 84 Marginal Way Core & Shell / Bayside Village Student Housing - Portland, ME Located in Portland’s Bayside district, this development included a five-story student housing complex and the construction of the City’s largest office building in two decades. • A new ten-story 107,000-square-foot building consisting of a six-story core and shell office building above a four-story, 533-space parking garage with three passenger elevators • A new five-story building consisting of a ground-level parking garage below four stories of student apartments • 48,000-square-foot ground level consists of structural steel and concrete deck parking garage for 102 vehicles, 4,000 square feet of retail space, tenant’s lobby, mechanical room and storage for 95 bicycles 667 Congress Street Mixed-Use Building Portland, ME Construction management services for this eight-story, 142,000-square-foot multi-use building on a tight site in downtown Portland. 5 • 139 apartments • Sub-grade and ground floor parking • Steel and concrete structure with masonry and metal-panel siding • Ground floor retail space including a deli with grill • Fitness center • Administrative office space SALE OF PORTION OF CITY OWNED THAMES STREET PROPERTY 4 IDEXX Laboratories Synergy Center Westbrook, ME An additional 108,000 square feet of new corporate office space constitutes Phase II of this global pet pharmaceutical company’s campus expansion initiative, for a total footprint of 780,000 square feet. The new public façade echoes the same palette of white masonry, expansive glass and sleek metals that currently define the company’s image. Each elevation is individually responsive to its solar orientation using light shelves and screening devices to optimize available sunlight for warmth and day lighting. Martin’s Point Health Care Medical Office Building Portland, ME Construction of a 42,000-square-foot, state-of-the-art primary care medical center situated on Martin’s Point just 75 feet from the ocean. • Two lower levels for parking with 218 spaces and an additional 194 surface parking spaces • Campus modifications to water, drainage, sewer, teledata infrastructure, parking and site finishes • Use of BIM for siting and footprint options • Approval from the Historic Preservation Board of Portland and the Maine Historic Preservation Commission for the building Atlantic Bayside Development I Jackrabbitt, LLC SECTION 4 Appendix University of Southern Maine Garage Portland, ME Features: • 1,144 parking spaces on 4-levels Casco Bay Ferry Terminal Garage Portland, ME Features: 7 • 408 parking spaces on 4 levels • Designed to serve passengers traveling to the Calendar Islands in Casco Bay • Over 800,000 passengers, their freight, vehicles and mail are transported annually • Precast, 2-bay structure with a Fire Boat Crew Room on ground level • Pile foundation • Brick veneer exterior facing SALE OF PORTION OF CITY OWNED THAMES STREET PROPERTY • Built to serve students, faculty and staff of the University • Precast concrete structural system • Structural/functional design, consulting • PARCS and signage consulting 4 Auburn Mechanics Row Municipal Garage Auburn, ME Features: • 448 parking spaces on 4-levels • Garage serves downtown employees, customers, businesses and visitors • Floors are well lit and accessible • Stairways are located on either end of each parking floor as well as one elevator with full glass for interior and exterior viewing • Permit parkers are divided into colored zones with each permit Atlantic Bayside Development I Jackrabbitt, LLC PDOT Secure Zorie? 1. City Parcel. 5 story parking structurewith full-height, 35' deep architectural wrap. ILevei-1: Retail-16,500 s.f. Parking req: 83 L-2 L-3: Of?ce 33,000 s.f; Parking req: 83 L-t-l L-5: Residential--? 26 Parking. req: 56 Total building area: 82,500 s.f. Total req: 222 Total parking provided: 330 cars Parking surplus: 108 2. Private Parcel. 5 story parking structure with ground- ?oor retail. Level 1: I Retail?12,200 s.f. Parking req: 61 Level. 1: Parking? 85 cars L-2 to L-5: Parking 119'cars11evei Total parking provided: 561 cars Parking surplus: 50! 3. City/Private Parcels. Pull architectural wrap varies in heigh from 3 stones to 5 stories. Three levels structured parking topped with plaza l?evei- parking. . I Retail: 30,000 s.f. Parking req: 120 Residential: 30,000 s.f. 25 d.u. Parking req: 50 Of?ce: 100,000 s.f. Parking req: 250 Tot-at Dev: 150,000 s.f. Parking req: 420 Total parking provided: 8001 cars Parking surplus: 380 iGitIylPrivate Parcels. uli architectural wrap varies inheight IfrIom 3 stories to 5 stories. Three levels structured parking topped with plaza level parking. Retain: 43.200 s.f. Parking req: 173 ReSidential: 48,000 s.f: 40 d.u. Parking req: 87 Of?ce: 156,000 s.f. Parking req: 390 Total Dev: 247,200 sf. Parking req: 650 Total parking'provi'd?d: 850 cars Parking surplus: 20.0 . Private Parcel. 5-st0ry hotel with parking structure. Level 1: Lobby, Function Room, Restaurant, Retail 1'7000 s.f. Parking req: 75 to L-5: Hotel-rooms (100 rooms) Parking req: 25 to L5: Parking garage (55 carslievel) Total Parking provided: 275 I Parking surplus: 175 :18.th Tern: I Parking . Tnis drawing shows how the ultimat migh Heck. The drawing imagines the City, by private property owner buildaut of the district development initiated by s, and by cooperative deveIOpment action of pubilc/private property Owners. The Committee recommends this multi pronged and integratedapproach to .7. a. ?m?c 4? .2 - -: ilMarineIgI' Total BuiiId out. Parking Reg. ?If if,? .E- Retail - 107,000 s.f. -Qi??ce 289,000 s.f. I Resld. ., 109,200 s.f. (91d.u. @1200/du)? Hotel -. 68 000. s.f. (100 rooms) Total 573,200 s.f. New Development: 1453 island Parking: 150 Existing-Comm; 450 Ocean Gateway: I 390 Totaiftequired 2353 New Parking: 2816 Par-king SUrp'lus: 4-63 .- a .- 33.333; I ?he ILA 1' Train DE Trail Landscape'Buf'fer New Sidewalk- New Permanent Road Focal Element I I New Building Ed New Parking Portland? Planning Offi-Ce "Spring 2002 Ultimate Build-out Scheme ?lo-int Development of: City] Private Parcels: 3 I -'Waterirejnt Develepmsent and I-M'a'ste'r Planning Committee 4 [he . . Idzululmn . .. .. f??tW? ii - . Outbound Queuing . . 5' . v. 35' deep architectural Wrap.l.._ Level Retail ?16,,-,500 sf. L-2 L-3: Office 33,000 at L-4 L-5: Residential 26 d.u. Total building area: 82,500 Total parking provided: 330 cars retail. . Level 1: Retail 12.200 s.f. Level 1: Parking 85 cars L?2-to L-5: Parking 119 cars/level Total parking provided: 561 cars retail. 3 Have] . Level 1: ?,130 cars L-2 to L4: :Parking 180 carsllevei Total parkiti?g provided:_670 City Parg?l. .3 story building. Level 1 ?i Retail 27,000 sf 0er 27,900 sf. Resid. 22 d.u. . City Parcel, 5_ story parking Structure with full-height, Private Parcal. 5 story parking structure with ground??oor . City ParceL Astory parking structurewith ground-?oor 'P'a'rki'ngreq: 93 . ?Short Tenn Parking This drawing demonstrates" that the City oeuid pursue development on City-controlled parcels without the- cooperation of adjacentprOperty oWne'rs. However, the . Committee recommends a City?only approach as a ?fallba?k, option", and recommends that the City pursue integrated; . Geoperative opportunities with'private property owners. J- - . 9 Marine Terminal . parking req: 83 parking req: '83 pa?rkingreq: 56 Total-req: 222 Parking surplus: 1 I Parking req: 61 Parking surplus: 500 Parking Req. Parking surplus: 577 Parkingreq: 135 Parking req: 68 Parking req: 48 .Tc?ital Perkins req:.251. Retail" Of?ce- Resid. - (48-d.u. 1200/00) Total 167,500 at New Development: 627 island Parking: 1.50 Existing Comm: 455 Ocean Gateway: ?g Total Required - 1527, New Parking; 155.1. Parking Surplus: 34- '0 ELI-DIED Train Trail Landscape Buffer New Sidewalk New Perrnahen't- Read Focal Element New Building New Parking ice Off sing partiandplann . J?l?F-azi-li-?baCk?i a mid-out Scheme Deivei-opm'e-ntaof City-Only Parcels at and 'Master