Fall Real Estate Conference 2013 - Jason Elliot

So where do great ideas come from?

Networks

Context

The Guiding Principlesfor the Boulder Civic Area

Expansion of community assembly activities

Enhancement of the Farmers’ Market

Improvement of municipal services

Creativity

Connectivity

Thinking globally…

…acting locally

Globally inspired, locally driven

Site Vision

Development Program

Market Analysis

Hotel Market

Competition

St. Julien Hotel & Spa

Hotel Boulderado

Metrics

Mid-$200 ADRs

Near 80% Occupancy Rates

Office Market

5.9% Vacancy

$30+ psf NNN Rents

Limited Class A Space

Hotel

Sqft & Stats…

214 Rooms

Boulder Community Events Center

Sqft & Stats…

Contiguous 20,000 Sqft Ballroom

Private Office

Sqft & Stats…

LEED Silver, 108,300 Sqft

Municipal Office

Sqft & Stats…

5 Levels, 80,000 Sqft

Economic Impact

Economic Impact Analysis

Economic Output$218 Million Construction Output$205 Million Annual Output

Job Creation2,850 Jobs

Tax Revenues$3.3 Million Construction Use Tax$1.5 Million Annual Property Tax, Sales Tax

& Accommodations Tax Revenues

Financing Summary

Capital Stack

Public Sources:CAGID Bond ProceedsMetro District Revenue Bond ProceedsRound 2 Capital Investment Strategy Bond ProceedsReinvested Hotel Surface Rights Proceeds

Private Sources:Conventional Construction DebtPrivate Equity (GP and LP)EB-5 Preferred Equity

Globally inspired, locally driven