The Red Barn Co. Real Estate Development and Place-making Management OUR COMPANY OUR PROCESS FOR SUCCESS EXPERIENCE CURRENT PROJECTS TEAM MEMBER’S PROFILES OUR COMPANY Located in Southern California, The Red Barn Co. is a real estate development company that specializes in guiding complex projects through the acquisition, market strategy, entitlement and land disposition processes, using principles based on historic American “small-town” precedence. Commonly working with Redevelopment Agencies, The Red Barn Co. experiences encompass – due diligence, financial feasibility, public/private partnering, project “visioning", design concepts, “Place-making” management, market positioning, and builder implementation programs. The Red Barn Co. lead members collectively have over 100 years experience in the land development process, managing various design, marketing, construction, and financial professionals toward the singular goal of creating memorable places. The Red Barn Co. managers and team are comprised of a diverse group of real estate development professionals including, project management, design, finance, entitlement (federal, state, local), builder programming, marketing, community relations and construction. In late 2000, The Red Barn Co. team began a process to guide the City of Hercules in establishing a newly proposed vibrant mixed- use center for the community and thus started the Hercules New Town Center public/private partnership with Red Barn and the City Redevelopment Agency. Mixed-Use “Red Barn has retail, office, and residential experience. But their greatest talent is bringing them all together, successfully.” Residential Mews Office Plaza Retail Street OUR PROCESS FOR SUCCESS The Red Barn Co. is in the business of adding value to land though a process, which emphasizes ‘place-making’ rather then single-use rezoning. To achieve this purpose, The Red Barn Co. follows three key principles that govern its approach to each project. These three principles are as follows: • Purposefully define future value for the benefit of all, • Prepare a plan for long term stability for both the environment and community, • Position the development to maximize its usefulness for many types users. Using these three principles, The Red Barn Co. builds a “value bridge” which comes from balancing the opportunities and constraints from two directions. The first direction is the physical needs of the site: existing setting, natural resources, regulatory, etc. The second direction comes from the human emotional needs side of the project: local and new residents, local and regional visitors, office workers, etc. “Value Bridge” Physical Human controls… needs… PAST EXPERIENCE The Red Barn Co. principals have collectively 100 years experience working on a variety of projects from large scaled master planned communities to small in-fill construction projects. The team has vast experience in entitlement, investment and construction of projects throughout the west coast. The three principals of The Red Barn Co. have been both managers and owners of projects over the past 30 years and have successfully entitled, financed or constructed the following: • 20,000+ acres of land development • 45,000+ residential homes entitled • 2.4M+ sq. ft. of commercial space • $3B in real estate financing • $180M in construction management • $35M+ in public assistance • 20+ years working with RDA’s Past Project Examples • Liberty – mixed-use traditional resort community 3,000 acres City Redevelopment Project Inland Empire, CA • Tustin Ranch – master planned golf course community 5,000 residential homes The Irvine Company Tustin, CA • Executive Park – business park construction 150,000 sq. ft. The Koll Company Irvine, CA • Bundy Village – mixed-use financing $61,700,000 Stonebridge Holdings Los Angeles, CA CURRENT PROJECTS The City of Hercules is located approximately 10 miles north of Berkeley, California at the interchange of I-80 Freeway and Highway 4. The Hercules New Town Center (HNTC) district is being developed by The Red Barn Co. and the City of Hercules’ Redevelopment Agency. This district will establish a new ‘downtown’ for the community and the region. HNTC will include a Hercules Transit Center at its core, combining a regional bus station and future location for a potential BART extension. Surrounding these mass transit solutions will be a pedestrian oriented mixed-use development. This will include retail, entertainment, office and urban-density residential uses. A new “Main Street” will form the backbone of HNTC connecting various sub-districts: PNR Parcel now known as Market Town – the first phase will include a full mix of uses including residential, retail and office. Next phase will be Cinema Town - a vibrant center with a theatre, restaurants, clubs and other entertainment and regional retail venues. The last phase, know as Transit Town sub-district, will contain small boutique retail shops and a café, which will open onto a public “green” and a variety of residential housing options. Market Town Phase One of New Town Center The first phase of the HNTC development, known as Market Town, is planned on a 6.62-acre parcel and will contain approximately 300 residential units, 115,000 SF of commercial space (of which 55,000 sq. ft is retail). The project will contain two parking structures. These structures, totaling approximately 800 spaces, will provide for all the parking needs of three uses including visitors. Along with the proposed buildings, Market Town will contain three urban open space areas focused on uses that best serve their adjoining blocks. There will be an office building plaza, a mixed-use “town square” and a private residential “courtyard”. Additionally, the “Market House” retail building and its surrounding open space will serve as a quiet respite that will open towards the “Town Square”. Cinema Town Phase Two of New Town Center The second phase of the HNTC, known as Cinema Town for entitlement purposes, will be located just east of I-80 Interstate within a 5-minute walk of Market Town. This second phase will be the largest phase of the HNTC and is envisioned to be a retail & entertainment destination for the region. Cinema Town will be developed on three parcels totaling 17 acres. This phase is planned to contain approximately 300,000 SF of retail including a 30,000 SF, 12-screen cinema as an anchor, and the potential for 7 additional retail store anchors along with many smaller shops and restaurants. In addition to the retail, there is also planned 100,000 SF of office and over 600 residential units along with the required structured parking of 2,500 spaces for all uses and their visitors. Cinema Town was envisioned to be developed around a central retail street, which will be designed as the “Main Street” for shopping and residential activities. There are three urban open space features, known as “town squares”. These areas will be designed to be within a five minute walk of each other. All three open space elements will be directly adjacent to the central “Main Street” spine road. Transit Town Phase Three of New Town Center The third and final phase of the HNTC will be predominately residential and is known as Transit Town. Located at the eastern most edge of the project boundary and thus, farthest away from I-80. This phase is planned on the remaining 11 acres of HNTC and will contain approximately 450 residential units, 20,000 sq. ft. of local retail and 10,000 sq. ft. of live/work office. In addition to the residential proposed, there will be approximately 1,250 structured parking spaces, including 500 dedicated spaces to transit users. A continuation of the central “main street” from Cinema Town will link the both phases by pedestrian and auto users. There will be two additionally proposed “town squares” within Transit Town adding to the five-minute-walk pedestrian linkage between the phases. Transit Town contains the relocated transit hub for local and regional bus facilities and will be adjacent to the potential wBART extension station. TEAM MEMBER’S PROFILES THOMAS J. WEIGEL Founding Partner – Hercules New Town Center, LLC (2005) Founder/President The Red Barn Co. (2000) Skills & Qualifications. Tom’s deep experience in planning, design and marketing combined with his natural talent for seeing the world through the eyes of a typical pedestrian and a typical consumer qualify him not only as a real estate developer, but even more as a “place-maker.” Sense of place is widely discussed in the planning and development world, but Tom knows intuitively what gives a piece of real estate a sense of place and how to achieve that sense of place step by step. Tom’s 20 years of planning experience and 11 years of broad experience in managing the land development process gives him the practical ability to not only envision, but to see the vision through to the making of real and memorable places. Tom has led teams of managers and consultants through the land development process, combining his inspiration to create great places with the means of converting the vision into practical reality in all aspects of the land development process—from site evaluation to planning and design to entitlement to value engineering to market positioning. Tom’s natural abilities as a visionary combined with his hard-nosed on-the-ground get-it-done experience make him a natural to lead the development of great places that find a special place in people’s hearts. Experience. Principal, Founder, The Red Barn Co., 2000-Present various mixed-use developments in Northern California • Executive Vice President, Co-Founder, The Town Group, LLC, 1996–2000 • General Partner, Southshore Communities, Inc. (managing general partner for the East Lake planned community in Lake Elsinore), 1992–1996 • Director of Development, TMC Developments, Inc. (real estate development company with diverse activities, including large-scale master-planned communities), 1991–1992 • Vice President of Land Development, Rancho Las Flores, Ltd., 1989–1991 • Vice President of Planning, Richardson Nagy Martin (architecture and planning firm), 1985–1989 • Project Manager (urban design & planning), The Irvine Company, 1986 • Project Director, FORMA/PBR (planning and design firm), 1981–1985 • Project Manger, Gregory Development Company (home building company), 1980–1981. Professional Memberships. National Town Builders Association (founding member), Congress of the New Urbanism (active member), ULI (associate member). Education. Bachelor of Science, Landscape Architecture, California State Polytechnic University, San Luis Obispo. Personal. Living in Newport Beach, CA with wife Lori and son. JAMES M. FOWLER Partner The Red Barn Co. (2006) Principal & Founder US Realty Capital (2000) Principal and founder of US Realty Capital ‐ a national mortgage and real estate investment banking company. The company includes nine offices nationwide specializing in providing debt and equity for commercial real estate. The company’s 2005 origination totaled approximately $1.1 billion of debt and equity. US Realty Capital procures permanent loans, construction loans, bridge and mezzanine loans with floating or fixed rates, as well as forward commitments for all types of income producing properties. We place equity for individual projects and provide joint venture capital as well. The US Realty Capital Team has financed all types of property including apartment, office, retail, industrial, mobile homes, self storage and hotels to more complicated transactions such as nursing homes, land, schools, resorts, master planned communities, time shares, golf courses, boat marinas and parking garages. James Fowler has arranged over $3.0 Billion in financing over his career. 1998‐2000 Merrill Lynch Real Estate Investment Banking Vice President/Regional Manager 1988 – 1997 CB Commercial Real Estate Group, Inc. First Vice President, Mortgage Banking Services, Newport Beach, California 1984 – 1988 Sanwa Bank Vice President, Real Estate Industries Division, Newport Beach, California 1981 – 1984 McCannErickson Advertising Agency Assistant Account Executive, Los Angeles, California EDUCATION Bachelor of Arts, Psychology, University of Southern California – 1981 LICENSES · Real Estate Brokers License – And Series 7, Series 24, Series 63 AFFILIATIONS · Mortgage Banking Association · International Council of Shopping Centers PERSONAL Living in Newport Beach, CA with wife Lynn and two sons. Jason M. Jazayeri, P.E. Manager/Investor The Red Barn Co. (2008) President & Founder – ACEC Consultants, Inc. (2000) Mr. Jazayeri has 30 years experience in the construction industry as a general contractor and a construction consultant. His experience spans various types of construction projects including fire stations, school modernizations, commercial buildings, university buildings, medical facilities, airports, and manufacturing plants. He has extensive experience in analyzing costs, establishing schedules, administering construction projects, and analyzing claims. Mr. Jazayeri holds a Master of Science Degree in Construction Engineering and Management from the University of California at Berkeley and a Bachelor of Science in Civil Engineering from the University of Illinois at Urbana- Champaign where he graduated with high honors. He is also a licensed professional engineer and a licensed contractor. Construction Management Mr. Jazayeri has assisted public agencies in construction management of various projects. His duties include preconstruction management, conceptual estimating, conducting progress meetings, scheduling, change order processing, shop drawing review and approvals, and site supervision. Furthermore, he has participated in resolution of claims, disputes, evaluation of differing site conditions, and accelerating projects. A sample of typical projects is listed below. Project Management Mr. Jazayeri has managed construction projects since 1979. His duties include preconstruction management, conceptual estimating, bidding, selecting subcontractors and writing subcontract agreements. In addition, he is involved in the day‐to‐day management of the projects including conducting progress meetings, scheduling, change order processing, shop drawing review and approvals, and site supervision. Furthermore, he has prepared close‐out packages including warranties and as‐built drawings, punch‐list management and final transfer of the project to the owner. Project sizes range from five figure projects for retail and restaurant tenant improvements to $12 million high‐rise and office buildings. A sample of typical projects is listed below. Scheduling Mr. Jazayeri has created critical path method schedules for numerous clients for private, commercial, and public buildings. These projects include elementary schools, office buildings, hotels, apartments, prisons, and airports. Mr. Jazayeri has also conducted several scheduling claims and delay analyses for major university structures, airports, and office buildings. EDUCATION Bachelor of Science, Civil Engineering – 1978 University of Illinois, at UrbanaChampaign, Graduated with honors Master of Science, Construction Engineering and Management ‐ 1979 University of California at Berkeley REGISTRATIONS General Contractor, California ‐ License No. 449372 since 1983 Registered Civil Engineer, California ‐ Registration No. 36643 since 1983 USGBC, LEED AP Since 2009 PERSONAL Living in Irvine, CA with wife and two children.