jonathan rose companies presentation

NYU Schack InstituteNYU Schack InstituteCenter for the SustainableCenter for the SustainableBuilt Environment May 7 2010May 7, 2010

Jonathan Rose Companies, LLC Rose Smart Growth Investment Fund

Jonathan Rose Companies, LLC

Jonathan Rose Companies, LLC Louisiana Speaks Green Design Guidelines

Jonathan Rose Companies, LLC Cooper Union New Academic Building

Jonathan Rose Companies, LLC Via Verde, Bronx, NY

Jonathan Rose Companies, LLC Why Do This?

Rose Smart Growth Investment Fund I, L.P.

Buildings are responsible for 43% of North American climate emissions


Industrial (5%)

Industry (25%)

Commercial (17%)

Buildings (43%)658 MMTC

377 MMTC

Transportation (32%)482 MMTC

Residential (21%)

Source: Building Solutions to Climate Change, Innovative Policy Solutions, November 2006

Fund Strategy: Cost Effective Green Methods


Source: McKinsey Analysis

McKinsey study indicates that the Fund’s typical green building strategies, including building insulation, lighting retro-fits, air conditioning and water heater upgrades, are in fact cost-effective methods for reducing climate impact.


98% of buildings are existing vs 2% of new construction

Picture of Empire State Building?Building?

Aerial View Jonathan Rose Companies, LLC

Aerial View

Aerial View of Site Jonathan Rose Companies, LLC

Jonathan Rose Companies, LLC Site Plan

Jonathan Rose Companies, LLC 135th Street

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Historical Photo circa 1910Jonathan Rose Companies, LLC

hhHistoric Photo, c. 1910Historic Photo, c. 1910

Project Team Jonathan Rose Companies, LLC

Partner Role

Rose Smart Growth Investment Fund I, L.P.

Jonathan Rose Companies

OwnerDeveloper

A hi l D iDattner Architects

Ettinger Engineering Associates

Architectural DesignGRPCA Design ConsultantMEP Engineer

Robert Silman Associates, P.C.

EME Group

Bright Power

Structural Engineer

LEED/NYSERDA Consultant

Solar Panel ConsultantBright Power

RC Dolner

GZA GeoEnvironmental Inc.

Solar Panel Consultant

Construction Manager

Environmental Consultant

Phipps Houses

Design 2147

Property Manager

Expeditor

Exterior FaçadeJonathan Rose Companies, LLC

Existing Conditions - Facade

Interior – Common Area Jonathan Rose Companies, LLC

Interior – Units Jonathan Rose Companies, LLC

Existing Conditions SurveyJonathan Rose Companies, LLC

Whole Building Rehabilitation Strategy


Individual Unit Rehabilitation Strategy


Jonathan Rose Companies 135th Financing

Funding Sources Construction PermanentFunding Sources Construction Permanent

HDC First Mortgage (Long Term Bond)* $22,360,000 $22,360,000

HDC First Mortgage (Short Term Bond) $1,745,000 $0

HPD Multifamily Second $5,940,000 $5,940,000

U.S. HUD Green Retrofit Program $3,610,000 $3,610,000

First Seller Note $4 814 968 $1 000 000First Seller Note $4,814,968 $1,000,000

Second Seller Note $3,063,687 $0

NYSERDA Solar Program $69,000 $69,000

Federal Solar Tax Credit Grant $102,000 $102,000

LIHTC Equity** $1,000,000 $10,138,000

Deferred Developer Fee $3 105 320 $3 105 320Deferred Developer Fee $3,105,320 $3,105,320

Cash Flow $1,581,961 $1,581,961

Total $47,397,236 $50,975,269

*Letter of credit provided by Bank of New York Mellon.**LIHTC at $.829; Equity investment from Enterprise.

PrioritiesJonathan Rose Companies, LLC

R ti P i iti

•Major Building Systems

Renovation Priorities

Major Building Systems

•Exterior Façade

•Interior / Common Space

•Unit Repairs

•Additional Green Systems

Building SystemsJonathan Rose Companies, LLC

Building Systems / Proposed Retrofit SolutionsJonathan Rose Companies, LLC

Exterior FaçadeJonathan Rose Companies, LLC

Existing Conditions - Facade

Efficient Lighting: InteriorJonathan Rose Companies, LLC

Water-Conserving Appliances and FixturesJonathan Rose Companies, LLC

Interior MaterialsJonathan Rose Companies, LLC

Eco-Leader Porcelain Tile T&G No. 2 Oak Forbo Linoleum

FSC Certified Kitchen Cabinets Porcelain Floor Tile Porcelain Mosaic Tile

Solar TechnologyJonathan Rose Companies, LLC

Solar Electric• Photovoltaic (PV) technology converts

’ t l t i itsun’s energy to electricity

• Storage is optional

Bulkheads

Satellite ViewJonathan Rose Companies, LLC

Tall Buildings

Proposed System PlacementJonathan Rose Companies, LLC

Roof Mounted PV

Roof Design OptionsJonathan Rose Companies, LLC

N Fi C d iNew Fire Code requires unobstructed roof pathways

PV Roof ArrayJonathan Rose Companies, LLC

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Online InterfaceJonathan Rose Companies, LLC

http://brightpower.kiosk-view.com/dinkinsgardens

Operations & MaintenanceJonathan Rose Companies, LLC

Source: Effective Design Studio | Francis Zera

Jonathan Rose Companies, LLC 135th Street

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jonathan rose companies presentation

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