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

Sep 11, 2022 •104 likes •586 views

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.

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

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

  3. 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.

  4. Roebling Block 2

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

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

  7. TRENTON & CHAMBERSBURG: OFFICE, MULTI-FAMILY & RETAIL

  8. Market Outlook Strong Economy Vibrant Community Rich History

  9. 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%

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

  11. 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%

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

  14. 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%

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

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

  17. 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%

  18. Ferdinand Avenue Hudson Street Mott Street South Clinton Avenue

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

  20. Nathanael Greene

  21. South Clinton Garage

  22. Financials MAKING BLOCK 2 FINANCIALLY VIABLE AND CULTURALLY VIBRANT

  23. 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

  24. 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

  25. 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

  26. 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%

  27. 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%

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