THE GALLERY AT FATVILLAGE BROWARD COUNTY BOARD OF COUNTY COMMISSIONERS RFP SOLICITATION N2111265P1 REAL ESTATE DEVELOPER FOR DEVELOPMENT OF 600 N. ANDREWS AVE Submitted by: Related FATVillage, LLC In Joint Venture with
PARTNERSHIP Related FATVillage, LLC The Gallery at FATVillage meets all of the goals of Broward In Joint Venture with County while providing edgy design features, affordable rents, and building components that will integrate well with the local community
EXPERIENCE & PROVEN PROFESSIONALS 90,000 Units Since 1979
EXPERIENCE & PROVEN PROFESSIONALS Leader in Affordable and Workforce Development • Track Record of Community Involvement • Commitment to CBE Hiring •
EXPERIENCE & PROVEN PROFESSIONALS Visionaries behind Flagler Arts & • Technology (FATVillage) District Established 2002 • Major Investors and Property Owners •
KEY STAFF Luis Castellon Alberto Milo, Jr. Doug McCraw Tony Del Pozzo VP of Development Principal and Senior VP Principal and VP VP of Finance Project Manager
EXPERIENCE & PROVEN TRACK RECORD MIXED USE IN FORT LAUDERDALE The Manor at Flagler Village New River Yacht Club 398 Units and 25,000 SF Retail 249 Units and 4,400 SF Retail
EXPERIENCE & PROVEN TRACK RECORD AFFORDABLE HOUSING Loft II Town Center 496 Units and 10,000 SF Retail 127 Units
DESIGN TEAM
LEAD ARCHITECT Preeminent Architectural Firm in • Fort Lauderdale Over 10 projects with a value of • over $500m in Fort Lauderdale Notable Projects • Manor at Flagler Village • Progresso Pointe • Wisdom Village Crossing •
DESIGN CONSULTANTS Landscape Architect Local Architect Artistic Consultant
CONSTRUCTION MANAGEMENT TEAM Over 6 million SF of Multifamily • Multiple Related Group Projects • Strong Track Record of CBE Hiring & • Community Participation
SMALL BUISNESS DEVELOPMENT
CBE FIRMS
BEST PROJECT APPROACH • Development • 191 Units – 150 Workforce/Affordable and 41 Market Rate • Live-Work Units on first two floors • Efficient and highly functional unit layouts to allow for lower monthly rents • 4,000 sf of retail space for Art Café • Edgy design and streetscape improvements to complement the FATVillage Development • Unit Features and project amenities that are comparable to Market Rate Communities • Sustainable Design Features
GREATEST FINANCIAL STRENGTH & COMPENSATION TO COUNTY • PRH Investments, LLC - Parent Company and Guarantor • Over $380MM Net worth and $180MM liquidity • Relationships with every major lender doing business in South Florida • Lease with Broward County • Proposed 60-year Lease Term • $300,000 up-front payment to the County • After stabilization, annual lease payment equal to 25% of net cash flow with $100,000 minimum payment increasing 3% annually
FINANCIAL STRATEGY • Construction Loan Commitment from JP Morgan Chase • Plan is not contingent upon CRA Loan • Permanent Loan Commitment from Pillar Multifamily – DUS Lender for Fannie Mae & Freddie Mac • Inclusion of market rate units provides for larger permanent loan • Ability to manage efficiently, keeping operating costs down and improving the feasibility of the project
STRONG TEAM WITH SUBSTANTIAL CAPACITY TO HANDLE WORKLOAD
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