Milhaus Park East Response

A Proposal from: Milhaus Development

With: WiRED Properties

Block 2 & 4 PARKEAST

Acquisition and Development of Blocks 2A and 4A & 4B Park East, Milwaukee Wisconsin RFP #: 2014 ED01 DEADLINE DATE: October 6, 2014

MILHAUS PARKEAST PROPOSAL 2

TABLE OF CONTENTS

Introduction . 3 Executive Summary

Development Team .. 5 Team Members Qualifications Comparable Projects

Development Plan .....13 Design Concept Narrative Plans Project Schedule Financial Feasibility Projected Tax Base Workforce: Residential Hiring Goal and Plan Workforce: Apprenticeship Projected Jobs Created DBE Goal and Plan Green Design Zoning Readiness

Appendix ..31

Contact Information Company Profiles and Portfolios Signed Letter of Transmittal Attachments A-E, R

Block 2 & 4 - PARKEAST


INTRODUCTION


Executive Summary

We understand the goals of The Park East Redevelopment Plan and intend to deliver a project that: 1.) rapidly generates a substantial tax base in a high quality neighborhood; 2.) promotes residential and mixed-use development, concentrating disposable income in the Park East; 3.) enhances pedestrian access throughout the Park East; 4.) results in a shared parking resource that can provide the City with a valuable asset while catalyzing the future development of Block 1 and Block 7; 5.) extends the reach of the Park East into the neighborhood to the north through the inclusion of the National Ace Hardware Building in our development; 6.) provides a well-contemplated connection to Zilbers substantial investment to the west and amplifies its role in the city; and, 7.) positions the Park East for a dynamic future connection to a possible Arena in the surrounding area.

Our Team combines big-picture perspective and vision with hands-on experience in implementing complex solutions to our urban environments. Specifically, we provide expertise in commercial, mixed-use, and multi-family development, as well as design, planning, construction, and property management. Combined, Milhaus and WiRED have directly contributed more than $360 million in total investment in projects in Indiana, Ohio, Tennessee, Oklahoma, Kentucky, and Wisconsin. Additionally, principals of the firms have developed more than $1.2 billion in new projects in urban environments throughout the country. Milhaus corporate mission is to transform neighborhoods and leave them in a better place than we found them. We are excited about the opportunity to do just that in the Park East. Our Teams approach is to be open and honest and deliver upon our word. We have a track record of working closely with neighborhoods to deliver exciting projects that are financially successful. We will work collaboratively with the neighborhood, consistently meeting with the Park East Redevelopment Association, the City of Milwaukee and Milwaukee County.

We have approached this site using green design that respects contextual building topography, pedestrian scale, and neighborhood assets. We have incorporated the National Ace Hardware Building to extend our developments reach, and our proposal for a City parking structure positions the balance of the Park East for rapid development by solving for the Park Easts inherent parking challenges.

By choosing our Team to work on this transformative project, we can ensure that a collaborative vision becomes reality.


DEVELOPMENT TEAM


Team Members

Milhaus Master Developer

and Property Manager WiRED Properties

Milwaukee Development Partner

Architectural Team (TBD)

DBE Enterprises Milwaukee Group

(TBD)

Additional Design (TBD)

General Contractor

(TBD)

Br and Marketing

Team (TBD)


Qualifications

Milhaus Milhaus Development is a team of inspired and industrious individuals, headquartered in Indianapolis. We are committed to the development of mixed-use and multi-family products that provide lasting experiences for our customers. Milhaus creates solutions for neighborhoods that positively impact communities by delivering unparalleled expertise in real estate, investment, development, construction, and management. Since 2010, Milhaus has completed, constructed, or developed a total of 2,500 residential units and 140,000 square feet of commercial space totaling $325 million in total investments with projects in Oklahoma, Tennessee, Kentucky, Ohio, and Indiana. Milhaus develops high-quality projects with financial responsibility, that withstands the passage of time, improve peoples lives, and transforms communities.

WiRED Properties Located in Milwaukee, Wisconsin, WiRED Properties is a boutique full-service real estate development, consulting, and construction firm that is passionate about the development and redevelopment of communities. WiRED's award winning developments reflect their dedication to creating built environments that add and create value by weaving together the urban fabric. They believe in the value of connectedness of people and their physical links to the community. WiRED is currently developing: Mequon Town Center, a $19,000,000 mixed- use development with ~36,000 square feet of commercial space and 28 luxury apartments in Mequon, WI; Drexel Town Square, a large-scale mixed-use development in which WiRED is responsible for the development and construction of a new Main Street for the City of Oak Creek, including over 70,000 square feet of commercial space and 62 apartments; and, Lilly Preserve, a 77-unit luxury apartment community in Brookfield, WI. WiRED has established dynamic expertise in the development of mixed-use communities that re-shape and re-define their neighborhoods, and in working with municipalities to achieve their planning and fiscal objectives.


Financial Capacity We have the financial capacity to complete significant projects of this scale. Milhaus BP Investors, LLC, an affiliate of Milhaus Development, LLC, has an allocation of $200 Million of equity prior to leverage that is 37% placed, giving it $245 million of available capacity for investment when leveraged. This fund is targeted specifically towards large urban infill mixed-use projects.

Development Approach Our Team understands that this is a catalytic project. The development of the Park East represents the singular opportunity to create a new neighborhood in downtown Milwaukee. Additionally, the Team recognizes the importance of not only meeting the expectations of the Park East Development Plan, but also

integrating the development of the Park East Corridor into the established neighborhood to the north and the burgeoning neighborhoods to the east and west.

The former Park East Freeway Corridor presents incredible potential that we believe we can help develop into a prosperous neighborhood. We understand market dynamics and financial feasibility. We believe our vision of community development will help to coalesce a new spirit of community in the Park East, and in the broader community. Together, we can deliver a solution that works.

We believe the Site provides a dynamic opportunity to deliver a product with a distinctive architectural style. Our development and design teams will bring a fresh design perspective to the Project allowing it to stand out from other developments in the neighborhood and city at large - while still respecting the Sites contextual assets. Together, our teams design-centric focus on each of our projects, combined with our priority of creating walkable, mixed-use destinations, will ensure this project is of the highest standard all while still remaining economically feasible. It is our intention to work closely with the City, County, and community stakeholders to develop a design of which everyone is proud.


Case Study and Comparable Projects

Case Study: Gantry 4100 Hamilton Ave, Cincinnati, OHRecently, Milhaus began construction on Gantry, a $16 million mixed-use project in Cincinnatis Northside neighborhood. Located on the former Myron Johnson Lumber Company property along Hamilton Avenue, the Site is Northsides crown jewel gateway. Immediately upon being selected by the neighborhood and City as the preferred developer for the project, Milhaus set up a steering committee of local stakeholders to guide us in understanding what the neighborhood wanted to see happen with the site. We held a community charrette where instead of presenting plans to the community we listened and asked the community for their feedback. We listened to what they wanted to see. It was several months before we ever presented a design to the neighborhood because it took us that long to feel comfortable that we really understood the neighborhoods goals and vision for the property. As we refined our plans throughout the construction documents process, we continuously presented updates to the neighborhood to ensure that everyone was kept in the loop of how the project was evolving. The start of construction this past month marks the next step in the process for this important investment in the Northside community.

Our Team will take a similar approach to this project as we did on Gantry. We know that the Neighborhood cares about what happens with this project. With that being said, we fully intend to operate within the financial parameters of the deal. Our financing partners have specific yield requirements that we must hit, and we are committed to delivering a project that makes long-term economic sense. The vision will be bold, but realistic. The project must work financially, and we will make sure that it does.

We will work with CHCURC to develop a strategy for how to best work with the interested parties to develop our plans for the project. The Clifton Heights Business Association, CUF Neighborhood Association and the University of Cincinnati will all have an integral role bringing this project to fruition. We will immediately bring in stakeholders for a steering committee of 4-6 people to guide us throughout the process. We will spend time learning from the steering committee on how our development plans meet the Communitys long-term vision and goals for the neighborhood. We will take the knowledge gained from these meetings to develop plans that deliver the best solution possible.


Comparable Projects: Artistry

ARTISTRY

Location: Indianapolis, IN Investment: $31M Residential: 258 apts. Commercial: 68,000 sf. Parking: 400 garage spaces Status: Completed 2014 Team Scope: Milhaus is the developer, contractor and manager

Located in Downtown Indianapolis, Artistry transformed a former, empty, two-story structure into a five-story icon of mixed-use development. This first phase of a 6-acre master plan includes 258 apartment units and 68,000sf of commercial space. Parking is provided within the building and in the existing parking garage across Market Street to the north. The building is comprised of a mix of studios, one, two and three-bedroom units. An open third floor pool and entertainment deck provides dramatic views of the downtown area. The project was completed in 2014 and is seeking LEED certification for its many environmentally sensitive features.


Comparable Projects: Lift

LIFT

Location: Oklahoma City, OK Investment: $42M Residential: 329 apts. Commercial: 4,600 sf Parking: 444 garage spaces Status: Construction Team Scope: Milhaus is the developer, contractor and manager

Lift is located in the revived Midtown neighborhood of Oklahoma City on 3 acres at the corner of 10th Street and Shartel Avenue. Milhaus is developing a four and five story building that includes amenities such as a lap pool, outdoor kitchen, state of the art wellness studio, and two elevated courtyards. Construction began in the Summer of 2014. The first units, which will include eco-suites, studios, one bedrooms, two bedrooms, and three bedrooms, are scheduled to be available in the Summer of 2015.


Comparable Projects: Circa

CIRCA

Location: Indianapolis, IN Investment: $31M Residential: 264 apts. Commercial: 1,500 sf Parking: 275 spaces Status: Construction Team Scope: Milhaus is developer, contractor and manager

Located in the Chatham Arch Historic District in Downtown Indianapolis, Circa is blending old and new in a 265-unit redevelopment of a historic industrial property. Adjacent to the Indianapolis Cultural Trail and less than a block from the Mass Ave Cultural District, Circa will be well connected to some of the citys best shopping, restaurants, and entertainment. The project includes a mix of studios, one, two, and three bedroom units in five new apartment buildings, as well as the complete rehabilitation of an existing historic structure. Property amenities will include an entertainment deck and pool, cross-training studio, indoor bicycle parking, makers work room, and lounge. Circa welcomed its first residents in the Summer of 2014, and construction will be completed in Spring 2015.


DEVELOPMENT PLAN


Project Schedule

Milestone Start Finish

RFP Submission October 2014 October 2014 RFP Interviews October 2014 October 2014 RFP Recommendation of Approval November 2014 November 2014 Review and Approval November 2014 November 2014 County, City, Developer Negotiations January 2015 February 2015 Due Diligence, Design Development January 2015 March 2015 Construction Documents April 1, 2015 August 2015 Bidding and Permitting August 2015 September 2015 Construction September 2015 April 2017 Stabilization April 2017 Spring 2018

Once selected as the preferred developer for the Project, our Team will immediately begin our due diligence. Significant resources will be required to underwrite the physical condition of the site, and to advance our initial conceptual design to working schematic design. We are prepared to expend those resources.

Blair Williams, President of WiRED Properties, will act as the local development liaison and will coordinate the teams local development efforts. Milhaus will oversee the development activities and will provide its experience and financial resources to position the development for rapid execution and success.

Our Team has the financial resources prepared to execute this development in a single phase. The time for this development is now. The market is positioned to absorb apartments brought online in the next three years, and the Park East is positioned for catalytic development in conjunction with the anticipated development of a new Arena in downtown Milwaukee. Communities dont just happen they are made. By executing this development in a single phase, the Team believes we will jumpstart the creation of a new community in the Park East


Development Requirements The Park East Redevelopment Code requires Development and Construction to meet several parameters during the construction of this project. Based on the schematics from the Redevelopment Code, we believe we can accomplish these building provisions.


Design Concept Narrative

Building 1 Block 2A West McKinley Avenue and N. 6th St.

This building will be the heart of the residential community. The mixed-use space on 6th street is presented as a one-story building that will house the common area amenities for all of the apartments. Distinctive architecture will illuminate 6th and McKinley allowing this corner to be the jewel box of development.

124 apartments 24,981 square feet of mixed-use 71 parking stalls Green Courtyard

Building 2 Block 4A West McKinley Avenue and N. 4th St.

This mixed use 5-story building with four levels of apartments above ground floor lines McKinley and wraps around 4th Street and 5th Street. Providing a full deck of underground parking and some parking at grade, this intersection will be highly activated with mixed-use. Additionally, cultivating a strong pedestrian and transit connection along West McKinley Ave. and N.4th St. increases the walkability of the site.


Building 3 Block 4B West Juneau Avenue and N. 6th Street

This is a 5-story building with four levels of apartments above ground floor mixed-use that lines Juneau and wraps around 4th Street and 5th Street. It will offer some parking at grade with access off of 5th Street. Juneau Avenue will be highly activated with mixed-use space, and will incorporate distinctive design at the corner of Juneau Avenue and 4th Street.


Program Summary Residential 300-375 apartment units

Commercial 50,000 sf Parking 800 spaces


Building 4 Block 2B Parking Structure

A substantial challenge in the Park East Redevelopment is parking. The Development Code requires activating both Juneau and McKinley street fronts. To provide a consistent feel at the site, we believe activating 4th and 5th is also necessary. Therefore, there is extremely parking at grade.

Due to the past use of this site as a highway, the environmental impacted soils, and the remaining foundations, we believe an underground parking structure is not economically feasible. Furthermore, an underground parking deck will likely not meet the demands of the increased traffic in the neighborhood. We believe the most reasonable solution is to create a shared parking resource in Block 2 Parcel B. Located between Block 1 and Block 7, a shared parking structure would further the potential arena development proximate to the Park East by providing overflow parking.

From a architecture standpoint, we would create a sky bridge connection across the alley from the parking structure to the building on Block 2 Parcel A, and we would build a connection across 5th Street from the structure to Block 4 Parcel B. We would need to provide assurance to our residents that they could rent stalls at market rates from the city. We project requiring approximately 265 stalls for use by our residents. Using a parking ratio of 1.5 stalls per apartment, our development requires 489 parking stalls. This design suggests we can reasonably provide 224 stalls without impacting the quality and value of the street activation in the development.

We propose the City should develop, build, and own this parking structure in the Park East. For financial feasibility our development must provide sufficient parking. With up to ~18,000 square feet of available liner retail space on Juneau Avenue and wrapping to 6th Street, this parking structure can also meet the design requirements of the Park East Development Code. Not only can it help to support and catalyze the future development of remaining Park East parcels, but also it can contribute to the pedestrian environment and the neighborhood.

Block 2B Parking Structure

PARKING

SCALE:

Proposed Below Grade Plan (Parcel 4a) See Graphic Scale

BASEMENT LEVELENCLOSED PARKING STRUCTURE

104 PARKING SPACES

PARCEL 4A

NORT

H 4t

h ST

REET

WEST McKINLEY AVE

MILWAUKEE WI 53203

Blocks 2&3 Park EastM2014-26 OCTOBER 2, 2014

SP 3.0 LOWER LEVEL SITE PLAN

Project # | Date Issued:

the Consortium ae LLC2022 E. North Avenue | Milwaukee | WI 53202 | Gregg Prossen, Principal

T E L E P H O N E 4 1 4 . 4 0 6 . 7 6 2 5


Blocks 2 & 4 Ground Level

0 30' 60' 120'

SCALE: 1"=60' SCALE:

Proposed Street Level Plan See Graphic Scale

PARKING

MULTI-FAMILY COMMUNITYCOMMUNITY

MIXED USE MIXED USE

PARKING

PARKING

MIXED USE

25' WIDE TWO WAYTRAFFIC (NO PARKING)

NORT

H 5t

h ST

REET

NORT

H 6t

h ST

REET

WEST McKINLEY AVE

WEST JUNEAU AVE

275'-6"

62'-0

"

150'

187'

-4"

289'-4"

62'-0

"62

'-0"

62'-0

"

62'-5"

154'

-5"

283'-6"

5 TIER OPEN PARKING STRUCTURETIER 1 & 2 = 102 SPACES/TIER

TIER 3,4 & 5 = 169 SPACES/TIERTOTAL PARKING = 711 SPACES

POOL

GATED & PRIVACY WALL

GRADE LEVELENCLOSED PARKING STRUCTURE

71 PARKING SPACES

52'-5

"10

2'-0

"

GRADE LEVELENCLOSED PARKING STRUCTURE

49 PARKING SPACES153 TOTAL SPACES

RETAIL-COMMERCIAL

PEDESTRIAN BRIDGE

PEDE

STRI

ANBR

IDGE

TWO WAY ALLEY W/ TRAFFIC CALMING BLVD

120'

-0"

52'-5

"

283'-6"

PARCEL 2A

PARCEL 2B

PARCEL 4A

PARCEL 4B

DASHED LINE INDICATES POTENTIALGROUND FL 10.6KSF RETAIL

DASHED LINE INDICATES EDGE OF BLDG ABOVE

ACCE

SS L

OWER

LEV

EL

POTENTIAL PKGACCESS

POTENTIAL PKGACCESS

RETAILDISTINCTIVE

DESIGN ELEMENT

CORNERDISTINCTIVE

DESIGN ELEMENT

CORNERDISTINCTIVE

DESIGN ELEMENT

CORNERDISTINCTIVE

DESIGN ELEMENTCORNER

DISTINCTIVEDESIGN ELEMENT

CORNERDISTINCTIVE

DESIGN ELEMENTCORNER

DISTINCTIVEDESIGN ELEMENT

RETAIL-COMMERCIAL RETAIL-COMMERCIAL

RETAIL-COMMERCIALRETAIL-COMMERCIAL

MILWAUKEE WI 53203


PROPOSED SITE PLAN



T E L E P H O N E 4 1 4 . 4 0 6 . 7 6 2 5


Blocks 2 & 4 Floors 2 5

0 30' 60' 120'

SCALE: 1"=60' SCALE:

Proposed Upper Level Plan See Graphic Scale

NORT

H 5t

h ST

REET

NORT

H 4t

h ST

REET

NORT

H 6t

h ST

REET

WEST McKINLEY AVE

WEST JUNEAU AVE

5 TIER OPEN PARKING STRUCTURETIER 3,4 & 5 = 169 SPACES/TIERTOTAL PARKING = 780 SPACES

MULTI-FAMILY MULTI-FAMILY

GREEN ROOF

GREEN ROOF

MULTI-FAMILY

PARKING

275'-6"

150'

187'

-4"

289'-4" 62'-5" 158'-8" 62'-5"

62'-5

"62

'-5"

62'-1

"

62'-5"

PARCEL 2A

PARCEL 2B

PARCEL 4A

PARCEL 4B

154'

-5"

283'-6"

MILWAUKEE WI 53203


SP 2.0 UPPER LEVEL SITE PLAN



T E L E P H O N E 4 1 4 . 4 0 6 . 7 6 2 5


From a market perspective, there is significant demand for quality market-rate housing, which is the use that will anchor this project. We will design this product in a way that attracts a wide variety of customers. The young professional, the empty nester, and the young family alike will feel at home in our contemporary and spacious units. With such close proximity to the central business district, the arts district, Milwaukees universities, and with dynamic transit connections, we expect this property to attract a plethora of tenants.

The Park East represents a remarkable opportunity. It is vacant land in the heart of the city. It is located within walking distance to dining, the arts, entertainment, the Milwaukee River. New public transit will extend that easy access making the Park East within reach from throughout the city. And, it is located with perhaps the best freeway access in the city for its residents and its businesses. In few other locations can a new development connect so intimately to the city, and immediately become a fundamental part of the Park East Neighborhood.

However, the location is only part of the opportunity. As several large contiguous parcels, the vacant land presents a clean palette for the form and scale of the built environment. The Development Code provides strong direction for how these buildings should, generally, occupy the land and how they should interact with the world around them.

With that clean palette, developers can develop to their vision: office, entertainment, corporate headquarters, hospitality, retail, multifamily, or more. It could take form, over time, with singular developments, with the Development Code providing design guidelines.

We believe the Park Easts greatest opportunity is that its scale and location offer the opportunity for it truly to become a new neighborhood. It can connect the tremendous investment to the west at Pabst, and to the arts and entertainment to the east. It can weave into the neighborhood to north. Milwaukee is a city of great neighborhoods with long histories. The Park Easts history is in front of it. But we believe it can become great.

Our Project Plan reflects our belief that this should be a neighborhood where the pedestrian is treasured and motor vehicles are respected. First floor mixed-use offers a dynamic opportunity for interaction between pedestrian and built environment. It activates the street. And, the users of that space help express and create the broader community.

We believe that great neighborhoods have great residents. In order to ensure that this neighborhood takes on strong identity, we believe housing must play a strong component in the plan. And, we want this residential community to be differentiated in the market. We believe the details and the scale of the plan do that.

The development of these parcels with this Project Plan, along with specific contemplation of parking resources for the balance of the Park East, should help catalyze development of the balance of the Park East. And this single-phase development would immediately generate substantial tax base.

Plans


Based on our experience in markets like Indianapolis, Oklahoma City, Cincinnati and others, as well as here in Milwaukee, we are confident we can design and develop a community that is of its time and that contemplates the role it plays in the City. We have deep experience in transformative development. The Park East can transform itself and the surrounding neighborhoods.

This Project proposes development of Blocks 2 and 4. We are proposing 5-story mixed-use buildings on Block 2 Parcel A, Block 4 Parcel A, and Block 4 Parcel B. Our plan contemplates a parking structure to be built on Block 2 Parcel B. That structure would serve as the parking resource for the Park East as a whole, including those parcels for which we are not Proposing at this time.

Block Grid We believe that 4th Street should be emphasized for its pedestrian and transit linkages. We believe that developments that favor the pedestrian must be designed thoughtfully to ensure each experience is successful.

5th Street In order to maintain that pedestrian scale, our plan started with re-building 5th Street. We wanted to break the long blocks of Juneau and McKinley into manageable sizes. We wanted to create high-value corner retail spaces. And we wanted to facilitate pedestrian and vehicular movement throughout the Park East.

Alleys The alleys also present opportunity. By respecting the alley, and the underlying infrastructure, we created yet more retail corners and we created an opportunity for a unique linkage between 4th Street and 5th Street offering pedestrian, bicycle, and limited vehicular access into the heart of the development and to 5th Street.

Along 5th Street, the impact of the alleys will be compelling. It will offer the pedestrian relief as it breaks down the scale and massing of the buildings. And it will create corner retail opportunities to substantiate 5th Street as a part of the city grid and the community.

Street Frontages Our Project Plan emphasizes street-front retail space on Juneau, McKinley, 4th Street, and on the corners of 5th Street. We will work Dan Rosenfeld and his team at Mid-America Real Estate to secure a mix of tenants that will define the community. Our plan will have the flexibility to work with retail or commercial tenants of all sizes, including larger formatusers. It is our express intent to create spaces that offer all types of businesses the opportunity to make the Park East home. And, that diversity will help make the neighborhood distinct.

Building Design This Proposal does not include site-specific design for the buildings. While unique in many ways, this Project is very consistent with the developments we have executed, and are executing now, in cities around the country. These buildings, and other successful buildings in the country, will inform our design. The images presented in this Proposal accurately reflect our design intent.


Generally, we believe in contemporary design that reflects its day, and we believe in respecting the context of the neighborhood. Five story buildings are entirely consistent with the scale of the neighborhood. By establishing very strong corners with defining elements at each of 6th & McKinley, 4th and McKinley, and 4th and Juneau, our buildings will define the gateways to the Park East.

We use high quality building materials, and we believe the mix of the exterior materials help define the buildings value to the community. Most importantly, we believe buildings, like the neighborhoods theyre in, should be visually interesting and engaging.

Mixed-Use Committed to that design intent, our Plan allows us the flexibility to design buildings with character and identity, to accommodate a broad spectrum of potential users including businesses, the arts, office users, or entertainment uses. The mix of uses will help to define its success. Our Team is uniquely experienced in creating those successful mixed-use environments.

ApartmentsLiving in the Park East will be different from other neighborhoods in the City. More retail right downstairs. More civic amenities a short walk away. We are committed to developing exceptional apartment communities, and we believe the Park East merits deep investment.

Our Project Plan presents four stories of apartments over the ground floor mixed-use space.

For the buildings located on Block 4 parcels A and B, we present two U-shaped buildings separated by the alley. Each building features a green courtyard for the residents use. That single-story element through that alley will create a visually engaging environment for the pedestrian, and the courtyards will be a terrific amenity for the residents.

Financial Feasibility


Public / Private Partnership

With a well-documented set of existing conditions, we believe that development of the corridor faces

three distinct challenges: 1.) the presence of significant subsurface foundations remaining from the demolition of the freeway; 2.) material environmental contamination; 3.) a substantial MMSD stormwater structure serving the freeway.


These three conditions result in the following conditions impacting the feasibility of any development in the Park East:

The costs to prepare individual parcels for development will be high, includingexcavation and removal of the foundations

The cost of mass excavation may be very substantial due to the impacted soils,potentially driving the costs of underground garages to a point of infeasibility

The cost of moving the MMSD storm sewer would be substantial, and as such itscurrent position should most likely be respected

Short of performing our extensive due diligence upon being selected as the developer of these Blocks, we are not able to accurately project the costs of removal of the existing foundations to facilitate development of our Project. However, we are not carrying extraordinary costs in our development budget. We will look to the City to carry those extraordinary costs to be incurred in the preparation of this blighted site for vertical development.

We propose to purchase the land for $1. We will require no direct financial participation in the development of the three proposed parcels after the costs of remediating the environmental impacts and subsurface obstructions.

We look forward to partnering with the City and the County to develop a specific plan that will optimize the value of the development to the community.

Projected Tax Base Section Based upon the Project as defined, we project a total assessed value for the development of ~$63,000,000 inclusive of all retail/mixed use space and the 331 units of apartments. Based upon our Teams ability to execute this development as a single phase, and with real estate taxes paid in arrears, we project that tax base to generate full real estate tax revenues as early as 2018.

Workforce: Residential Hiring Goal and Plan Our team acknowledges and accepts the Residential Hiring requirements under the PERC Compliance Plan. Our team will work collaboratively with the City and the County to develop and execute that plan, and we will use our best efforts to meet successfully the goals of that plan.

Workforce: Apprenticeship Our team acknowledges and accepts the Apprenticeship Hiring requirements under the PERC Compliance Plan. Our team will work collaboratively with the City and the County to develop and execute that plan, and we will use our best efforts to meet successfully the goals of that plan.


Projected Jobs Created In addition to being a catalytic development, it is also a huge jobs boost to the neighborhood and overall economy. This Project is expected to support over 350 construction jobs and create real full time equilavent jobs with the new multi-family development operations and what will be generated with the commercial space users.

DBE Goal and Plan Our team acknowledges and accepts the DBE Hiring requirements under the PERC Compliance Plan. Our team will work collaboratively with the City and the County to develop and execute that plan, and we will use our best efforts to meet successfully the goals of that plan.

Green DesignMilhaus has completed several LEED certified and green build projects including Artistry and Gantry, which are each LEED Certified. We bring smart design principles to each of our developments, balancing environmentally sound practices with financial feasibility. At our core and our brand is about Conscious Living and we take this approach seriously in all that we do. We plan to work with the City and County of Milwaukee to construct these four buildings with as few Volatile Organic Compounds (VOCs) as possible. We will outfit each of the units with high efficiency washers and dryers, EnergyStar appliances, and windows which aid in heating and cooling efficiencies. Lastly, each of the buildings will contain a bike storage garage to encourage green transportation.

We value green spaces and the role that they play in place making and the creation of dynamic pedestrian environments. Our proposal specifically contemplates the connection of 5th Street between Juneau Avenue and McKinley Avenue. That street will be landscaped as a city street and will feature substantial traffic calming elements and parallel parking lanes in order to ensure a safe and comfortable pedestrian experience.

We also propose a pedestrian connection between 4th Street and 5th Street. That new street will offer limited access to motor vehicles and will be designed specifically to encourage pedestrian connections between Block 7 and the parking structure to be constructed on Parcel B of Block 1.

The two eastern buildings will feature large green courtyards above the covered parking at grade, creating an inviting and compelling green environment for the residents of those buildings. Finally, the northwest building will feature an expansive private courtyard at grade, including a swimming pool and other amenities for the residents of this new community.


Zoning Readiness Our Project meets the requirements and expectations of the Park East Development Code. Blocks 2 and 4 are zoned for the following uses: residential, office, retail / service, entertainment/accommodations, and institutional. Milhaus plans to build four buildings, which serve as residential, office, and retail. As such, we will not need to rezone Parcel A of Blocks 2 or Block 4. A zoning amendment is not required for this project.

Conclusion Thank you for your time and consideration of our Team and willingness to consider the investment that we desire to make. We look forward to the opportunity of working with Milwaukee County and City of Milwaukee on this project. A gateway project like this one is a special opportunity to set the tone for the long-term success of a neighborhood, and our Team is elated at the opportunity to combine our national and local expertise to be a part of this one. It takes the right team, with the right commitement to the Neighborhood, solid financial capacity, and progressive design sense to deliver this scale of project in a manner that positively impacts the Community. We feel that our Team presents exceptional qualifications to reach this success, and we will do everything possible to make that happen.


APPENDIX


Contact Information

Milhaus 530 E. Ohio Street, Suite A Indianapolis, IN 46204 Contact: Jeremy Stephenson President of Development [email protected] 317-602-6125

WiRED Properties 2022 E. North Avenue Suite 300 Milwaukee, WI 53202 Contact: Blair Williams Founder of WiRED [email protected] 414-803-9699

52 APPENDIX


COMPANY PROFILE & PORTFOLIO

530 East Ohio Street, Suite A Indianapolis, IN 46204


TABLE OF CONTENTS

Company Overview

Selected Projects

35 Company Profile

Team

36 Tadd M. Miller 36 Jeremy C. Stephenson 37 Alexandra Jackiw

Completed

38 Artistry INDIANAPOLIS 39 Circa INDIANAPOLIS

Construction 40 Gantry CINCINNATI 41 Mentor + Muse INDIANAPOLIS 42 Lift OKLAHOMA CITY

Development

43 Highland Row MEMPHIS


COMPANY PROFILE 3

Milhaus is a team of inspired and industrious individuals, headquartered in Indianapolis, who are committed to the development of mixed-use and multifamily products that provide experiences for our customers. Milhaus provides exceptional customer experiences and create solutions for neighborhoods that positively impact communities by providing unparalleled expertise in real estate, investment, development, construction and management. Milhaus develop high-quality projects that are financially r esponsible, withstand the passage of time, improve peoples lives and transform communities. Milhaus has either completed, is under construction or development on a total of 2,500 residential units and 140,000sf of commercial space totaling $325 million in total investment in projects in Indiana, Ohio, Tennessee, Oklahoma, and Kentucky since 2010.


TEAM 4

Tadd M. Miller Principal, CEO 317-236-7161 [email protected]

Tadd Miller is CEO and a co-founder of all Milhaus related companies. He has led the development, finan e and construction of urban multi-family and mixed-use properties throughout the Midwest and Florida totaling over $650 million. With his real estate experience beginning in central Indiana, his vision and companies continue to improve urban living and have led the renaissance of downtown living in Indianapolis. At Milhaus, Tadd leads corporate strategy of all divisions, business development and investor relations.

Tadd graduated from the College of Architecture and Urban Planning at Ball State University, completed his MBA at Indiana Wesleyan University, and then received his law degree from Indiana University. He is actively involved in the Urban Land Institute, the International Council of Shopping Centers, and is a co-founder of Indianapolis-based Wellfount Pharmaceuticals, one of the states 40 fastest growing companies. Tadd has been named one of Indianapolis Business Journals Forty Under 40, Young Professional of the Year by the Young Professionals of Central Indiana and Whos Who in Commercial Real Estate. In 2007, Junior Achievement named him Indys Best and Brightest in real estate.

Jeremy C. Stephenson Principal, President of Development & Construction

317-602-6125 [email protected]

Jeremy Stephenson is principal of all Milhaus related companies and President of Milhaus Development and Milhaus Construction. Prior to joining Milhaus, Jeremy led the development of $550 million of hotel, office, retail, and residential developments throughout the country. He brings to Milhaus an extensive track record of executing complex urban mixed-use public-private partnerships including the recently developed $425 million JW Marriott convention center hotel in downtown Indianapolis. At Milhaus, Jeremy oversees the development and construction departments and is involved in corporate strategy, business development, and brand implementation.

Jeremy is a graduate of the Indiana University Robert H. McKinney School of Law and also received his Masters of Business Administration from Butler University. Prior to completing his MBA, Jeremy graduated with honors from Butler University in Political Science. Jeremy serves in voluntary leadership roles with the Urban Land Institute, Outreach, Inc, the 2012 Super Bowl Host Committee, and Common Ground Christian Church. He previously served on the board of the Greater Indianapolis Habitat for Humanity, Keep Indianapolis Beautiful, Butler University Alumni Board and multiple scholarship foundations. He is also actively involved with Wheeler Mission Homeless Shelter and a member of the Indianapolis Bar Association. Jeremy was recently recognized with the Indianapolis Business Journals Forty Under 40 award.


TEAM 5

Alexandra S. Jackiw, CPM President of Milhaus Management, LLC 317-672-7903 [email protected]

Alexandra (Alex) Jackiw is President of Milhaus Management, LLC. She is responsible for the oversight of all property management operations and asset management functions for the Milhaus-owned portfolio and the expansion of the management services platform for institutional, third-party clients. Alex is a nationally-recognized real estate executive with extensive experience managing large portfolios throughout the U. S. for both privately-held and publicly traded companies. In addition to property and asset management, her experience includes marketing, training, consulting and business development.

Alex received her Bachelors degree in Chemistry from the University of Rochester and a Masters degree in Education from Ohio University. Active in professional organizations, she served as Chairman of the Board of the National Apartment Association (NAA) in 2013 and President of the NAA Education Institute from 2008 through 2009. Alex is also a member of the Institute of Real Estate Management, National Multi Housing Council, Housing Education and Research Association, and IndyCREW. She is past chair of the Residential Property Management Advisory Board at Virginia Tech and will complete a four-year term as President of the Ball State University Residential Property Management Advisory Board in 2014. Alex has held adjunct faculty appointments at both Virginia Tech and Ball State University where she has continued to teach in their respective Residential Property Management programs for a number of years.


ARTISTRY - PHASE 1 Indianapolis, IN

7

Located: 451 E Market St Indianapolis, IN Status: Complete Residential: 258 units Retail/Office: Up to 80,000 sf Parking: 124 in bldg, 600 in existing garage Investment: $30M Developer: Milhaus Development Contractor: Milhaus Construction Manager: Milhaus Management

Composed of three phases on six acres in downtown Indianapolis, the Bank One Operations Center Redevelopment began with the transformation of the existing two-story structure into a five-story icon of mixed- use development. Parking will be provided within the phase one building and in an existing parking garage across Market Street to the north. Three stories of apartments will be added to the heavily reinforced structure. The strength of the existing building supports the rooftop deck area and swimming pool, all overlooking the downtown skyline.


CIRCA Indianapolis, IN

8

Located: 617 N. College Ave. Indianapolis, IN 46204 Status: Under Construction Residential: 265 units Investment: $31M Developer: Milhaus Development Contractor: Milhaus Construction Manager: Milhaus Management

Just steps from the shops and restaurants on Mass Ave and the Indianapolis Cultural Trail, Circa is the redevelopment of a former three acre industrial facility in downtown Indianapolis. The project will include the full rehabilation of a 10,000 sf historic structure into the property's leasing and amenity center, as well as industrial-style loft units. Four new buildings with urban and natural style units will surround the historic structure, which opens up to the resort-style outdoor pool deck and an urban pocket park and lounge area.


GANTRY Cincinnati, OH

9

Located: 4100 Hamilton Avenue Cincinnati, OH 45223 Status: Development Residential: 131 units Retail: 8,000 sf Investment: $15M Developer: Milhaus Development Contractor: Milhaus Construction Manager: Milhaus Management

Located in the eclectic neighborhood of Northside, the redevelopment of the Myron Johnson Lumber Co. property will introduce the neighborhood's first new residential mixed-use development in the heart of its business district. The project's design is the result of extensive collaboration with neighborhood residents, blending contemporary design with traditional building techniques. Two of the first floor retail spaces have adjacent patios for outdoor dining and recreation.


1

MENTOR + MUSE Indianapolis, IN

10

TENANT SPACE 5,430 SF

MARKET STREET

55 SPACES


Located: E Market St & N New Jersey St Indianapolis, IN 46204 Status: Development Residential: 242 units Retail: 20,000 sf Investment: $28M Developer: Milhaus Development Contractor: Milhaus Construction

COURT STREET

Phase 2


TO PARKING BELOW

Phase 1

WASHINGTON STREET

The second phase of Milhaus's Artisty project in downtown Indianapolis, the project will feature two contemporary five-story mixed-use buildings. Proposed to be LEED-certified, this project is being developed with a focus on sustainable building practices and eco- conscious design. Space is planned for multiple types of commercial users, including a large retail space with drive-thru capabilities. West facing units will overlook the city's skyline.


LIFT Oklahoma City, OK

11

Located: NW 10th St and N Shartel Ave Oklahoma City, OK 73103 Status: Development Residential: 327 units Retail: 4,600 sf Investment: $42M Developer: Milhaus Development

Contractor: Milhaus Construction

Starting construction in 3Q 2014, this project is in the neighborhood of Midtown and within walking distance of Automobile Alley and the central business district. Located on 3.3 acres, it includes a mix of studio, 1,2, and 3-bedroom apartments and 5,600 sf of retail space. Residents will enjoy three different courtyards, skyline views and a 445-space parking garage.


Highland Row Memphis, TN

12

Located: Highland & Midland Ave. Memphis, TN 38111 Status: Development Residential: 354 apartments 35 townhomes Retail: 30,000 sf Investment: $58M Developer: Milhaus Development Contractor: Milhaus Construction

Tres Bon fashion. grocery

Highland Row is located across the street from the University of Memphis campus in the heart of the city. The project includes office, retail and residential uses that will transition from a craftsman-style neighborhood to the west into the university campus to the east. With the involvement and proximity of the University, this will be an active 24-hour destination. Surface and structured parking will be available, along with multiple unique product types to appeal to all residents.


COMPANY PROFILE & PORTFOLIO

2022 E. North Avenue Suite 300 Milwaukee, WI. 53202 (414) 375---0244 www.wiredproperties.com


Company Overview 46 Company Profile WiRED [Winder Real Estate Development, Inc.]46 Blair Williams Selected Projects Completed 47 The Cornerstone MILWAUKEE 48 Ravenna MILWUAKEE Development 49 Mequon Town Center MILWAUKEE 50 Drexel Town Center OAK CREEK


COMPANY PROFILE Located in Milwaukee, Wisconsin, WiRED Properties is a boutique full---service real estate development, consulting, and construction rm who is passionate about the development and redevelopment of communities. WiRED's award winning developments reflect their dedication to creating built environments that add and create value by weaving together the urban fabric. They believe in the value of connectedness of people and their physical links to the community. Wired actively seeks dynamic business opportunities to cultivate those connections through high quality real estate development. Since 2010, WiRED has developed 72 units of multifamily housing with 55,000 square feet of mixed-use, with 48,000 sf of retail and 158 multifamily units under development Additionally, WiRED has acted as the owner's representative of another 290 multifamily units,.

Blair Williams Founder: Winder Real Estate Development, Inc. (WiRED) (414) 803---9699 [email protected] Blair W. Williams founded Winder Real Estate Development, Inc. (WiRED) in August, 2005. Blair is a native Milwaukeean and is passionate about Milwaukee. A graduate of the University of Wisconsin Madison with a B.A. in History, a J.D., an M.B.A. and an M.S. in Real Estate, Blair is also a dedicated Badger. After graduating from UW, Blair moved to Dallas, Texas with his wife Stacy and spent two years cultivating his passion for real estate. Dallas, a city with many charms, lacked a certain dynamism so present Milwaukee. In 2000, Blair and Stacy moved back to Milwaukee, where Blair joined the award---winning real estate development firm Mandel Group, Inc.


THE CORNERSTONE Milwaukee, WI. Located: 4510 N. Oakland Avenue Shorewood, WI 53211 Status: Complete Retail: 11,500 sf Investment: $8.3 m Developer: WiRED Manager: WiRED Located at the north end of Shorewood's retail district, this development redefined life in Shorewood and the surrounding community. The development process started with a gas station in foreclosure on a piece of land in two municipalities with environmental challenges in the worst economic conditions in generations, and the process has ended with a terrific retail and residential community. With unprecedented cooperation between Whitefish Bay and Shorewood, and a truly dynamic public/private partnership between the developer and Shorewood, the team has produced an award- winning mixed-use community of the highest value. The building's retail is 100% occupied by local retailers, and the apartments have offered a new way to live in the North Shore.


RAVENNA Milwaukee, WS. Located: 4510 N. Oakland Avenue Shoreland, WI. 53211 Status: Complete Retail: 8,100 Investment: Developer: WiRED Manager: WiRED Located at the north end of Shorewood's retail district, this development redefined life in Shorewood and the surrounding community. The Great Recession interrupted the development process until 2012. But, with the completion and success of The Cornerstone across the street, it became time to develop Ravenna as apartments instead of condominiums. Together with The Cornerstone, Ravenna has completed the development of the north end of Oakland Avenue. The building's retail is 100% occupied by local retailers, and the apartments have offered a new way to live in the North Shore.


MEQUON TOWN CENTER Mequon, WI Located: 6006 W. Mequon Road, Mequon, WI 53097 Status: Construction Retail: 36,000 Investment: ~$19mm Developer: WiRED Manager: WiRED Mequon Town Center is the realization of the City of Mequons vision for a new center of the community. Nearly a decade ago, the City recognized the untapped opportunity to create a district with greater intensity of use and more urban densities in order to establish a neighborhood with dynamic energy. Through effective planning and sheer dedication to purpose, the City created a process that has resulted in this new community. The assembled parcel combined a former gas station, the American Legion Post, two small houses, and a city owned lot to create an opportunity where the whole is greater than the sum of the parts. Now, a new community featuring luxury apartments, dynamic retail space, and incredible civic linkages is taking form.


DREXEL TOWN SQUARE Oak Creek, WI. Location: Drexel and Howell, Oak Creek, WI. 53154 Status: Developing Retail: 36,000 Developer: WiRED and Phelan Development Manager: WiRED Drexel Town Square is Oak Creek's newest retail, commercial, residential and civic development, under construction on the corner of Drexel and Howell Avenues. Reminiscent of a traditional downtown, the new development includes a real

Main Street --- Oak Creek'sfirst --- with a new City Halland library on a town square, surrounded by retail stores, restaurants, a hotel, shops, businesses and apartments. WiRED Properties, with Phelan Development, is the developer of the new Main Street, and will begin construction in early 2015.


ATTACHMENTS

1


Signed Letter of Transmittal

Milhaus Development LLC (Milhaus) and WiRED Properties (WiRED) understand the agreement to be made with the County. The individuals authorized to make representations and enter into any agreement on behalf of the prosper are:

Signature:

Date: October 6, 2014

Jeremy Stephenson

President

[email protected]

530 E. Ohio Street, Suite A Indianapolis, IN 46204

317-602-6125

Blair Williams Signature: Founder of WiRED [email protected] 2022 E. North Avenue Suite 300 Milwaukee, WI 53202 Date: October 6, 2014

(414) 803-9699

Financial Feasibilty pages 23-28 Milhaus Financials and Investor Background

Submit form as Attachment R of RFP ED01-2014

Milwaukee County Broker Registration Form

Broker Name_________________________________________ License Number___________________________

Agency_______________________________________________________________________________________

Address_________________________________________City___________________State_________Zip_______

Phone________________________ Cell___________________________ Fax____________________________

Email________________________________________________________________________________________

Client Name (RFP Proposer) _____________________________________________________________________

Address_________________________________________City___________________State_________Zip_______

Phone________________________ Cell___________________________ Fax____________________________

Email________________________________________________________________________________________

Property of Interest:

Park East Block(s)______________________ Lot(s)_____________________

Brokers Acknowledgment

I represent and warrant that I am the sole broker for the above-listed client, and that I am not, nor will I be at the time of sale, a principal of my client or any entity having an ownership interest in my client. I acknowledge that Milwaukee County will not pay brokerage fees to brokers who are also buyers, nor will Milwaukee County pay multiple brokerage fees for the same properties. Moreover, I represent and warrant to the County that I am a licensed real estate broker in the State of Wisconsin and that my license remains in good standing. I acknowledge that Milwaukee County will verify this information and recognize that I will be ineligible to receive the brokerage fees described below if misrepresentations pursuant to this acknowledgement are uncovered. I shall hold harmless and indemnify Milwaukee County from any and all claims, costs or expenses, including attorneys fees, which may arise out of any actions or inactions or representations made by me in connection with the sale of this property.

As the registered broker for my client in compliance with the above-stated terms, I am entitled to a flat brokerage fee of $50,000 per acre, prorated on a hundredth of an acre basis, at the time of closing if closing occurs within 24 months of my client entering into an option to purchase with the County. If closing does not occur in that 24 month time frame, I am not entitled to any brokerage fees and shall have no cause of action against the County.

In addition to my signature below, please find the signature of my client, indicating it has seen and agreed to the above.

Broker Signature________________________________________________Date_______________________

Client Signature________________________________________________Date________________________

55385Blair W. Williams

2237 N. Lake Dr. Milwaukee WI 53202

414-803-9699

[email protected]

2 & 4 2A, 4A, 4B

10/1/2014

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