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New Port Tampa Bay No Bar, Custom Curve an Urban Waterfront Village Westshore Cbd & Tampa Int’L Airport Color (From C&W Offering Memorandum Color Palette)

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New Port Tampa Bay No Bar, Custom Curve an Urban Waterfront Village Westshore Cbd & Tampa Int’L Airport Color (From C&W Offering Memorandum Color Palette) Cover OPTION 3 NEW PORT TAMPA BAY NO BAR, CUSTOM CURVE AN URBAN WATERFRONT VILLAGE WESTSHORE CBD & TAMPA INT’L AIRPORT COLOR (FROM C&W OFFERING MEMORANDUM COLOR PALETTE) GANDY BLVD. WESTSHORE BL VD 51+/- ACRE | 1,750 UNIT NEW PORT . OPPORTUNITY TAMPA BAY W. TYSON AVENUE WCI’S WESTSHORE YACHT CLUB CONTENTS TOC OPTION 4 3 EXECUTIVE Summary 9 Property Information WITH PHOTO AND 16 CASH Flow ProJECTION BOX 19 Property PHotos 24 MARKET Information 30 CO-BroKER & CONFIDENTIALITY Information Executive Summary LAND DISPOSITION SERVICES EXECUTIVE SUMMARY EXECUTIVE SUMMARY Newport Tampa Bay was assembled between 2005 and 2006. Between land vibrant pedestrian waterfront destination and a boating attraction. purchase, soft costs, and infastructure, over $157,000,000 was invested in the New Port Tampa Bay is an urban waterfront, mixed-use project with residential, project. retail, office, hotel and marina land entitlements. The project is fully entitled to At 35 units per gross acre, this mixed use development site offers a blend of allow development on one of the last remaining waterfront sites in the desirable residential product from 4 story wrap to 20 story high rise and hotel, retail and South Tampa submarket with no bridges to limit sailboat mast height. commercial. End users will be buyers of condominiums in the millennial age New Port Tampa Bay is located on 51.26 acres in the City of Tampa, directly adjacent group, empty nesters, second home buyers, and those who enjoy an urban to WCI’s Westshore Yacht Club. The property is situated on the south side of lifestyle. Upper end rentals are also in demand. Gandy Boulevard and the north side of Tyson Avenue, between Westshore The zoning allows a live, work, play environment. The development will become a Boulevard and the Rattlesnake Channel. The site has one half mile of water frontagealong the deep water basin that connects to Tampa Bay via Rattlesnake Channel. South Tampa is a barrier to entry market with only one competing site. That site will be more single family and townhome oriented at around 12 units per acre. South Tampa is one of the most prestigious residential neighborhoods in the Tampa Bay Area. The established neighborhood is characterized by luxury homes – both historically preserved and renovated bungalow homes, as well as modern, more recently built mansions, luxury condominiums, townhomes and rentals. It is home to young professionals, families and senior executives. Many residents work in Tampa Bay’s three major employment centers. The area has extensive neighborhood retail with gorgeous landscaping, gourmet restaurants and unique “old world” atmosphere. Cultural, sports and entertainment venues are in very close proximity. New Port Tampa Bay is close to the Westshore and downtown Tampa Central Business Districts (CBD). Westshore, which represents the largest business district in the state, is the destination of over 99,000 employees, and the downtown Tampa CBD is a destination for over 60,000 employees. The Gateway Business District, across the Bay in Pinellas County, has over 4.3 million square feet of office space. New Port Tampa Bay enjoys easy access to Tampa International Airport, Leroy At 35 units per gross acre, the mixed use Selmon Crosstown Expressway, Interstate 275 and the Gandy Bridge. development site offers a mix of residential Upscale shopping is only minutes away at Westshore Plaza and International Plaza product from 4 story wrap to 20 story high rise. with Neiman Marcus, Nordstrom, Gucci, Coach, Apple and Tiffany & Co. as prominent tenants. NEW PORT TAMPA BAY CUSHMAN & WAKEFIELD 4 LAND DISPOSITION SERVICES EXECUTIVE SUMMARY TAMPA BAY Unprecedented regional job and population growth continues to drive demand. Strengths are: • Financial services capital of Florida; PASCO • Low tax burden and office rents; • University of South Florida’s draw for highly skilled workers and research (over $300 million in 2012) and PINELLAS development firms • Expanding Port HILLSBOROUGH Florida averages growth of more than 800 new residents per day. Positive job growth for the last nine quarters, and this trend is expected to continue. Centrally located on Florida’s Gulf of Mexico and Tampa Bay, the Tampa Bay region has a bright future for waterfront residential development. NEW PORT TAMPA BAY CUSHMAN & WAKEFIELD 5 LAND DISPOSITION SERVICES EXECUTIVE SUMMARY WESTSHORE CBD & TAMPA INT’L AIRPORT TAMPA CBD GATEWAY NEW PORT TAMPA BAY MACDILL AFB ST. PETERSUBRGPETERSBURG CBD LOCATION AERIAL NEW PORT TAMPA BAY CUSHMAN & WAKEFIELD 6 LAND DISPOSITION SERVICES EXECUTIVE SUMMARY MASTER PLAN 1 Sales Gallery Gandy Boulevard 2 2 Main Entrance 3 Marina Tower I & II 4 BayCity Place 1 5 Harbor Bridge 6 The Village Center 7 Harbor View 25 8 Village Center Flats 9 Parking Garage 17 3 10 Island Residences 11 Lake 12 Island Residences Amenities 13 Commercial Site 14 4 Tyson Avenue Entrance 15 Island Tower 26 24 16 Waterside I & II 17 The Explanade 23 18 The Shops at New Port 5 19 Marina Restaurants 20 Marina Park 8 21 Club New Port 22 19 18 Peninsula Tower 23 22 21 20 6 Old Tampa Bay 24 19 Marina 25 9 Public Boat Ramp 8 26 The Friendship Trail 7 10 10 10 11 17 12 16 15 10 13 10 Tyson Avenue 14 NEW PORT TAMPA BAY CUSHMAN & WAKEFIELD 7 LAND DISPOSITION SERVICES EXECUTIVE SUMMARY ! PARCEL ALLOCATION PLAN Parcel!Allocation!Plan! The current planned uses for the Development are based on mid-high rise condominiums that enjoy extensive views of the Tampa Bay. The balance of the site is planned for parks, greenways, waterfront promenade and Marina amenity facilities. ! ! NEW PORT TAMPA BAY CUSHMAN & WAKEFIELD 8 The!current!planned!land!uses!for!the!Development!were!based!on!luxury!highKrise! condominiums!that!enjoyed!extensive!views!of!the!Tampa!Bay.!!The!zoning!is!amongst!the! most!intensive!allowed!by!the!City!of!Tampa,!allowing!for!up!to!33!residential!units!per! gross!acre!the!current!building!sites!of!the!property.!!The!balance!of!the!site!was!planned! for!parks,!greenways,!waterfront!promenade!and!Marina!amenity!facilities,!the!location!of! which!has!been!set!by!the!CDD!but!is!available!to!change!based!upon!what!the!parties! determine!to!be!a!workable!site!plan,!including!rental!apartments.!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!7! Property Information LAND DISPOSITION SERVICES PROPERTY INFORMATION PROPERTY INFORMATION PROPERTY SUMMARY Size 51.26 Acres Land Use Designation UMU - 60 60 Units/Acre and a 3.25 FAR Zoning PD - A, C-1 Allowed Uses (Up To with • Residential: 1,750 Units (33 du/acre) Trade Off Matrix from the • Office: 83,750 SF Residential) • Commercial: 156,250 SF • Hotel: 200 Rooms • Marina: 185 Boat Slips Unified Zoning Notes Click this link: http://flyers.cushmanwakefield.com/flyers/Unified zoning notes 120707.pdf BOAT SLIPS AND MARINA New Port Tampa has secured two Submerged Lands Leases with the Tampa Port Authority. The initial term of the lease is five years with four 5-year renewal options. Currently there are 185 entitled wet slips. The marina area has received a SWFWMD ERP Permit and ACOE Permit for the dredging of the boat basis and use of the area as a full service Marina. The only remaining waterfront permit is the dock configuration permit with the Port of Tampa. This permit regulates the dock layout and slip sizes and is considered an administrative approval. There are no bridges to limit sailboat mast height. PROPERTY TAXES The Hillsborough County Property Appraiser, for 2012, assessed the property at a taxable value of $15,917,175 using a 21.58620 millage rate. Property taxes are due March 31st of the year following the tax year, with a 4% discount if paid by November 31st, 3% by December 31st, 2% by January 31st and 1% by February 28th. Impact FEE CREDITS & MITIGATION The prior developer paid $1,000,000 in traffic mitigation, as recorded by the City of Tampa in zoning approval PDA 07-48. There is approximately $155,000 available in credits to offset traffic impact fees, as well as $90,000 to offset water meter connection fees. NEW PORT TAMPA BAY CUSHMAN & WAKEFIELD 10 52 19 75 41 Land O’ Lakes New 54 Port Richey 54 Pasco County 581 Pinellas Hillsborough LUTZ County County 597 Tarpon Springs 275 Carrollwood EAST LAKE RD Y W H N BRUCE B. DOWNS BLVD N 75 U G LAND DISPOSITION301 593 SERVICES Honeymoon PROPERTY INFORMATION FLETCHER AVE Island RACE TRACK RD GUNN H E WY AV CURLEW CREEK RD FOWLER AVE LINEBAUGH AVE Temple FLORIDA Terrace Y 580 W TA SHELDON RD BUSCH BLVD H M HWY WATERS AVE Caladesi PA Y R R RY Island D B A TER DR M E 41 L 4 A D DALE MAB HILLSBOROUGH AVE EDGEWA 92 Clearwater Clearwater Exec. Airport DR MARTIN LUTHER KING JR BLVD Beach VETERANS EXPWY Island COLUMBUS DR URTNEY CAM 22ND ST Clearwater RD McMULLEN–BOOTH CO PBELL 9 Tampa Brandon CAUSEWAY International Tampa Airport8 VALRICO RD VALRICO GULF TO BAY 12 RD KINGSWAY 19 7 275 BOULEVARD KENNEDY BLVD 11 GE ADAMO DR Old ID 60 Tampa BR D D D BRIDGE BAYSIDE AN LV L LV B Bay NK E RA OR Davis RD F SH BELCHER RD 41 BAY DRIVE WA AY CAUSEWAY BLVD LUMSDEN DR HO B Islands St. Petersburg CROSSTOWN EXPWY International L Largo WEST SHORE B IT H Airport IA E 4 3 R RIDG D ULMERTON RD 10 Y B 1 2 AND G 5 41 75 301 SEMINOLE BLVD NEW PORT Pinellas Park 6 699 MacDill PARK BLVD GANDY BLVD AFB DISTANCES 1 Sweetbay 0.7 miles 2 Walmart Supercenter 0.9 miles G 275 4TH ST U 9TH ST LF St. Petersburg 3 Publix 1.6 miles B LV D 4 Target 1.6 miles TYRONE BLVD 5 Home Depot 1.7 miles 19 Apollo I-375 6 MacDillBeach A.F.B.
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