WIREWORKS AT C.O.I.L. Nathanael Greene Developments Tyler T.J. - PowerPoint PPT Presentation

WIREWORKS AT C.O.I.L. Nathanael Greene Developments Tyler T.J. Bausinger, Kiera McCloy, Austin Neri, Joseph Vilotti, Katelyn Tufariello

I. Introduction & Investment Thesis II. Comprehensive Site Vision III. Demographic Support IV. Building-Level Vision V. Financials VI. Conclusion

Introduction & Investment Thesis WireWorks at C.O.I.L. represents a step forward in neighborhood creation in Chambersburg with redevelopment of key historic buildings and new structures while attracting future investments due to projected returns of 14% and additional plans for future developments.

Roebling Block 2

WireWorks at C.O.I.L. Site Vision

WireWorks at C.O.I.L. Site Vision

TRENTON & CHAMBERSBURG: OFFICE, MULTI-FAMILY & RETAIL

Market Outlook Strong Economy Vibrant Community Rich History

Band House Building 51 11,950 sf. • Coffee Shop First Floor • 3 Screen Movie Theater and Quick • service food Second Floor Future Stabilized Yield to Cost: • 20.64%

Roebling Brewyard Building 52 13,357 sf. • Brewery and American-style • restaurant Future Stabilized Yield to Cost: • 15.06%

Equilibrium Building 54 100,000 sf. • First Floor: • 10,000 sf. American • Steakhouse 10,000 sf. Day Care • 30,000 sf. Community Center • & Museum Second Floor: • Artists Lofts and Colony • 35 units (5 Low & Moderate) • Future Stabilized Yield to Cost: • 13.56%

Saxonburg House Building 57 52,579 total sf. • Loft apartments • 59 units (5 Low & Moderate) • Future Stabilized Yield to Cost: • 11.83%

The Forge Building 58 42,705 sf. • Collaborative Office Space on 1st • and 3rd floors operated by Benjamin's Desk Future Stabilized Yield to Cost: • 12.86%

Mühlhausen Lofts Building 62 34,387 sf. • Loft Apartments • 20 units (4 Low & Moderate) • Future Stabilized Yield to Cost: • 17.63%

Elizabeth Gardens 63,590 sf. • New Construction • Traditional Multi-Family • Apartments 42 units (10 Low & Moderate) • Future Stabilized Yield to Cost: • 15.03%

Washington Place 40,275 total sf. • First floor retail (13,425 sf.) • Three floors traditional multi- • family apartments 38 units (10 Low & Moderate) • Future Stabilized Yield to Cost: • 14.58%

Ferdinand Avenue Hudson Street Mott Street South Clinton Avenue

Urban Farming Initiative Atop: • – Washington Place – Elizabeth Gardens – Garage on South Clinton – Nathanael Greene

Nathanael Greene

South Clinton Garage

Financials MAKING BLOCK 2 FINANCIALLY VIABLE AND CULTURALLY VIBRANT

Construction Timeline Elizabeth Gardens Washington Place Mühlhausen Lofts The Forge Saxonburg House Equilibrium Roebling Brewyard Band House Permits/Clean Up Parking Garage 0 10 20 30 40 50 60 70 80 Ending Month Phase Starting Month Ending Month Parking Garage 0 6 Permits/ Clean Up 0 8 Band House 9 18 Roebling Brewyard 11 20 Equilibrium 11 27 Saxonburg House 14 26 The Forge 20 29 M ü hlhausen Lofts 24 36 Washington Place 30 42 Elizabeth Gardens 32 44

Construction Timeline Details Quarter Cost Source Building Q1 (0 -4) $6,837,091 Construction Loan, Historic Tax Credit, City of Trenton Equity Parking Garage/ Clean-Up Q2 (5-8 ) $4,497,091 Construction Loan, Historic Tax Credit Parking Garage/ Clean-Up Q3 (9-12) $1,358,382 Construction Loan Band House/ Brewyard/ Equilibrium, Pavement Q4 (13-16) $5,698,823 Construction Loan, Historic Tax Credit, City of Trenton Equity Band House/ Brewyard/ Equilibrium/ Saxonburg Q5 (17-20 ) $6,689,134 Construction Loan, Historic Tax Credit Band House/ Brewyard/ Equilibrium/ Saxonburg Q6 (21-24) $9,180,772 Construction Loan, Historic Tax Credit, Band House, Brewyard Revenue Equilibrium/ Saxonburg/ The Forge Q7 (25-28 ) $8,087,983 Construction Loan, Historic Tax Credit, Band House, Brewyard, Equilibrium, Saxonburg Revenue Equilibrium/ Saxonburg/ The Forge/ Muhlhausen Q8 (29-32) $3,416,293 Construction Loan, Band House, Brewyard, Equilibrium, Saxonburg, The Forge Revenue Building E/ Muhlhausen/ Wash. Place Q9 (33-36) $6,100,861 Construction Loan, Band House, Brewyard, Equilibrium, Saxonburg, The Forge Revenue Building Muhlhausen/ Wash. Place/ Elizabeth Q10 (37-40 ) $5,292,361 Construction Loan, Band House, Brewyard, Equilibrium, Saxonburg, The Forge, Muhlhausen Revenue Building Wash. Place/ Elizabeth Q11 (41-44) $6,465,055 Construction Loan, Band House, Brewyard, Equilibrium, Saxonburg, The Forge, Muhlhausen, Wash. Place Revenue Building Wash. Place/ Elizabeth/ Green Roof

USES sq. ft Green Roof 52,993 Turf 7,150 Total Ground Area 269636 Sources & Uses Contingency $191,179.70 Green Roof $1,059,860.00 Clean-Up $1,348,182.00 Landscaping $2,966,000.40 Pavem ent $270,000.00 Turf $107,250.00 Parking Garage $7,020,000.00 SOURCES Band House $1,556,451.65 Roebling Brewyard $1,583,031.00 Equilibrium $11,564,138.05 Construction Loan $41,312,122.17 Saxonburg House $9,024,000.00 Historic Tax Credit $19,067,133.31 The Forge $7,644,252.00 LEED Gold $197,027.04 Muhlhausen Lofts $3,384,000.00 City of Trenton Equity $2,980,828.51 Washington Place $8,506,766.23 Elizabeth Gardens $7,332,000.00 Total Financing $63,557,111.03 Total Cost $63,557,111.03

Pro-Form a 1/ 31/ 2018 12/ 31/ 2019 12/ 31/ 2020 12/ 31/ 2021 12/ 31/ 2022 12/ 31/ 2023 12/ 31/ 2024 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Rental Revenue Total Rental $ - $ 303,004 $ 4,176,858 $ 7,321,330 $ 7,467,757 $ 7,617,112 $ 7,769,454 Revenue Total Percentage $ - $ 878 $ 3,855 $ 5,061 $ 5,162 $ 5,265 $ 5,370 Rent Parking Revenue $ - $ 30,087 $ 242,775 $ 355,283 $ 362,389 $ 369,637 $ 377,029 Consolidated Pro Forma Total Tenant $ 8,750 $ 47,214 $ 261,630 $ 376,094 $ 383,616 $ 391,288 $ 399,114 Revenue Potential $ 8,750 $ 350,218 $ 4,438,488 $ 7,697,424 $ 7,851,373 $ 8,008,400 $ 8,168,568 Gross Revenue Operating Expenses Total Operating $ 683,571 $ 819,115 $ 837,191 $ 855,712 $ 858,823 $ 860,129 $ 861,462 Expenses Net Operating $ (674,821) $ (487,935) $ 3,335,489 $ 6,368,830 $ 6,455,160 $ 6,600,133 $ 6,748,005 Incom e Developm ent Total Developm ent Costs $ 13,797,743 $ 19,714,752 $ 13,641,566 $ 6,309,253 $ 52,140 $ 52,140 $ 52,140 Cash Flow $ (14,472,564) $ (20,370,717) $ (10,910,379) $ (60,729) $ 6,276,698 $ 6,419,145 $ 6,564,440 Before Debt Debt Service Interest $ 154,183 $ 147,499 $ 143,776 $ 139,882 $ 135,810 $ 131,550 $ 127,095 Principal $ 74,350 $ 81,034 $ 84,757 $ 88,651 $ 92,723 $ 96,983 $ 101,439 Loan Repayment $ 228,533 $ 228,533 $ 228,533 $ 228,533 $ 228,533 $ 228,533 $ 228,533 Total Debt $ 457,066 $ 457,066 $ 457,066 $ 457,066 $ 457,066 $ 457,066 $ 457,066 Service Cash Flow After Debt $ (14,929,630) $ (20,827,783) $ (11,367,445) $ (517,795) $ 5,819,632 $ 5,962,078 $ 6,107,374 Service Cash On Cash Yield 26% 27% 28% Net Sale $ 73,288,488 Proceeds $ (14,929,630) $ (20,827,783) $ (11,367,445) $ (517,795) $ 5,819,632 $ 5,962,078 $ 79,395,862 Projected IRR 14%

Sensitivities Cap Selling Price Stabilized Construction Construction Year 5 Stabilized Cost Cost PSF IRR Rate Price PSF IRR $61,557,111 $228.30 9.45% 6.00% $97,717,984 $362.41 20.00% 6.50% $90,201,216 $334.53 18.00% $62,057,111 $230.15 9.38% $62,557,111 $232.01 9.30% 7.00% $83,758,272 $310.63 17.00% $63,057,111 $233.86 9.23% 7.50% $78,174,387 $289.93 16.00% $63,557,111 $235.71 9.16% 8 .0 0 % $73,28 8 ,48 8 $271.8 0 14.0 0 % 8.50% $68,977,400 $255.82 13.00% $64,057,111 $237.57 9.09% $64,557,111 $239.42 9.01% 9.00% $65,145,323 $241.60 12.00% $65,057,111 $241.28 8.95% 9.50% $61,716,621 $228.89 11.00% 10.00% $58,630,790 $217.44 10.00% $65,557,111 $243.13 8.88%