The Bellingham Bay Project a Proposal for Bellingham’S Waterfront District Redevelopment WA, USA

A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

The Bellingham Bay Project A Proposal for Bellingham’s Waterfront District Redevelopment WA, USA

July 2013 Submission by Harcourt Developments LTD / Tin Rock Developments INC A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

CONTENTS

EXECUTIVE SUMMARY

1.0 CAPABILITY OF DEVELOPMENT TEAM

2.0 DEVELOPMENT CONCEPT

(REFER ALSO TO ATTACHED DEVELOPMENT CONCEPT SUPPORT DRAWINGS)

3.0 PROPOSED FINANCIAL STRUCTURE

4.0 ACKNOWLEDGEMENT OF KEY BUSINESS TERMS

5.0 SUMMARY AND SIGNITURE

6.0 FURTHER INFORMATION AND CONTACT

APPENDIX 1 REFERENCES A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

EXECUTIVE SUMMARY

Harcourt Developments Limited, with their local partner Tin Rock Developments Incorporated, welcomes the opportunity to submit a proposal for Bellingham’s Waterfront District. This proposal responds to the Request For Proposals (RFP) issued by the Port of Bellingham for an Initial Develop- ment Opportunity (IDO) that includes building refurbishment of the Granary Building. Our team proposes a long-term strategy for redevelopment that includes a potential alternative IDO within our larger concept.

The Harcourt and Tin Rock team accept the challenge to create “a great place of enduring value” with a concept that builds upon the “United Vision” developed by the Port, the City and the community. Our concept is to envision an Initial Development Opportunity as the entryway to a holistic approach to the wider redevelopment in the entire Bellingham Bay Waterfront District.

The Bellingham Bay Waterfront District Vision Plan: The cornerstone of the Bellingham Bay Water- front District Vision Plan (our broadly defined development concept) is the creation of outstanding new public spaces along the waterfront edges and throughout the Waterfront District. Central to this concept is a new public connectivity between downtown Bellingham and Fairhaven, including a continuous “Waterfront Park” and a central “Bay Park” winding throughout the center of the District. These new public realm spaces will improve public access to the water, define the new Waterfront District and create a framework around which development and economic restoration can occur. In addition to new outstanding public spaces, our Vision Plan proposes high quality architectural design with sustainable and environmentally contextual buildings. We anchor the Vision Plan with the opportunity to create signature landmark buildings to create a visually unified Wa- terfront District.

Development Team Capability: Harcourt are a major international developer with significant waterfront redevelopment experience in Ireland, the United Kingdom, Europe, and other parts of the world. A particularly relevant project is the recent major redevelopment of the former Harland and Wolff shipyard site in Belfast, Northern Ireland (“Titanic Quarter”). Harcourt have assembled a team of local developer Tin Rock and their own architects, Robinson McIllwaine LLP, Master Planners and architects for the Titanic Quarter Project, as the first members of their team. Further details are included in Section 1.0.

1 A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

EXECUTIVE SUMMARY

Development Concept: Our development concept is the Bellingham Bay Waterfront District Vision Plan – a concept built on a holistic approach within which to consider and plan phased developments beginning with an alternative Initial Development Opportunity within our new Vision Plan. We respectfully suggest the four key principles of the redevelopment vision (as articulated in the RFP) may be best served and protected in a development concept that envisions redevelopment comprehensively. As introduced above, our Vision Plan seeks to connect the public and pedestrian from downtown and Old Town Bellingham via Maritime Heritage Park through a new landscaped ‘green’ waterfront edge park along Whatcom Waterway in connection with a new public ‘Bay Park.’ This unlimited public access park weaving throughout the site joins to the new Cornwall Beach Park, ultimately connecting to Boulevard Park and Fairhaven. We propose to further enhance Waterfront District economic development and public access by an attractive mix of buildings contexutal to the landscape and appropriate for variable uses including housing, recreation, services, business, and institutional. We propose quality architectural design within a completely connected Waterfront District of parks and trails, including signature buildings to unite the District. Further details are included in Section 2.0.

Proposed Transaction Structure: The value of our proposal is in its long-term vision of major new public spaces and high-quality building design, where the value of that development can be enjoyed by the local community of Bellingham and Whatcom County, as well as visitors and tourists. And equally shared with the Port of Bellingham in its measurable success upon phased completions. Fur- ther details are included in Section 3.0.

In conclusion, our proposal is to build upon the significant work already carried out by the Port and the City of Bellingham, by looking to the future of the entire site through our Vision Plan, to realize public spaces and new buildings of outstanding and sustainable quality- and ultimately returning the Port to the community in a new downtown Waterfront District connected to the rest of the city. A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

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1.a Background Information

Harcourt Developments Ltd is one of Ireland’s largest privately-owned property companies. Retained assets include offices, shopping centres, industrial parks and hotels in nine different countries worldwide including Ireland, the United Kingdom, the Bahamas, the United States, the Channel Islands and Latvia. The Group employs over 900 people.

The directors of the company are Patrick J Doherty, Chairman; Nicholas A Doherty, Patrick J Power, Conal V Harvey, Gerard M Comaskey and John P Doherty. Mr Andrew Parker Bowles is a non executive director.

The team at Harcourt has a successful track record of evaluating and managing property investments to deliver strong and sustainable investment returns. While continuing to develop, the group owns and manages a prime investment portfolio generating revenue from a combination of retail, offices, industrial, leisure and residential accommodation.

Key schemes include Park West Business Park in Dublin; Titanic Quarter, Belfast; waterfront developments in Jersey, The Channel Islands; Sullivan Square in Las Vegas; Riga International Business Park in Latvia; Royal Haslar in Gosport, England; Stanley Dock in Liverpool and a number of regional shopping centres across Ireland. Harcourt also has interests in over 40 hotels worldwide.

Websites of interest include: • www.harcourtdevelopments.com • www.parkwest.ie • www.titanic-quarter.com • www.carlisle-bay.com • www.liberty-wharf.com • www.royalhaslar.com A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

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1.b Key Personnel

Patrick J Doherty, Chairman and founder of Harcourt, established a successful construction business in London in the early 1960’s and went on to grow a property portfolio, which was to become the origin of Harcourt. His unique skill is in evaluating opportunities and his judgement and expertise has been the driving force behind Harcourt Developments.

Andrew Parker Bowles OBE, Non Executive Director. As board chairperson Andrew keeps abreast of all developments within the company. He is a retired English military officer with an illustrious career. He is also on the boards of Arena Leisure plc, Epsom Grand Stand Association, The British Horseracing Board and Profile Security Group, among others.

Patrick J. Power is a qualified Chartered Surveyor with over 19 years experience in the property industry. He joined Harcourt Developments in 1997 and is an Executive Director of the Main Board. He is also on the board of Ivywood Properties, the holding company of Titanic Quarter in Belfast. He has held a leading position in the promotion, sales and marketing of the prestigious Park West Business Park in Dublin, which comprises of some four hundred thousand sq. m of residential, office, retail and industrial buildings. He is also involved in enhancing the value of existing assets through rent reviews, re-developments and general property economies. Other areas or responsibility include evaluating new opportunities for the Group.

Nick Doherty is Finance Director and has responsibility for all of the Group’s financing requirements, banking relationships and cashflow management. He joined the Harcourt Group after successfully completing the MBA programme at the Michael Smurfit School in Dublin, where he was awarded a full academic scholarship. Prior to this, he worked for several years in Corporate Finance for the Chase Manhattan Bank in London. In this role, he was actively involved in various areas of investment banking, including syndicated loans, credit/risk analysis, high-yield bond origination, mergers, and acquisitions. He gained exposure to a number of high-profile deals, including the £1.2 billion acquisi- tion of Zeneca Chemicals.

Conal V. Harvey, Director of Operations, has overall responsibility for group operations. A graduate in engineering from University College Dublin, he has post-graduate qualifications in Management and Business Strategy from Trinity College Dublin, Irish Management Institute and INSEAD, France. Prior to joining Harcourt, he has held senior management positions in IDA Ireland where he was involved in the development of Business Parks throughout the country to attract internationally traded companies. A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

Gerry Comaskey, I.P.F.M.A Dip.surv(C.E.M), Group Property Director, has over 20 years experience in the property and facilities management sector. Previously employed by Insignia Richard Ellis Gunne as Head of Property Management and for a 6-year period as Head of Property Services of Irish Estate Management. He has worked on a diverse range of portfolios including Temple Bar Property, Irish Life Assurance plc, Aer Lingus and various other government and state agencies. He has full responsibility for the management of all the Harcourt Group’s retained property.

John Doherty, Marketing Director, is responsible for the communication and promotion of Harcourt’s various projects. With a background in graphic art and design, John creates the marketing material for the group. His campaigns have won several marketing and design awards. Other activities include strategic planning, market research and public relations.

1.c Key advisors/ consultants

Harcourt Developments Ltd. has teamed with local firm, Tin Rock Development Inc., on its proposal to develop the Port of Bellingham’s waterfront redevelopment property. Tin Rock’s principal, Blair Murray, has been involved in development and entitlement work in Bellingham and statewide since 1992. Tin Rock will provide technical guidance to Harcourt throughout the initial phases and will be responsible for implementing Harcourt’s development program at a local level.

Harcourt is proposing to continue its successful relationship with architectural and planning firm, Robinson McIlwaine LLP, its consultant on the highly acclaimed Titanic Quarter waterfront redevelopment project in Belfast, Northern Ireland.

The core development group will be reinforced with local firms and advisors as necessary to respond to the particular technical requirements of the development project’s many phases. A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

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1.d Experience

The following pages details past and current development projects that demonstrate Harcourt’s ability to manage projects of a similar size and complexity to that at Bellingham Bay. In all cases Harcourt have managed these projects from initial conception.

With specific reference to the Request for Proposals (RFP) requirements these projects can be cat- egorised as follows:

Section 1.d (ii) – Brownfield Developments

• Titanic Quarter, Belfast, Northern Ireland • Park West Business Park, Dublin, Ireland • Liberty Wharf, The Waterfront, St. Helier, Jersey, Channel Islands • Stanley Dock, Liverpool, England • Royal Haslar, Gosport, England

Section 1.d (iii) – Public/Private Partnerships or Transactions

• Titanic Quarter, a redevelopment of the former Harland and Wolff shipyard in Belfast, on land part-owned by the Belfast Harbour Commissioners. • Titanic Belfast, development of an award winning tourist attraction at Titanic Quarter. The buildings was managed and constructed by Harcourt Construction. The project was funded in partnership with the Titanic Quarter, Northern Ireland Tourism Board, Belfast City Council and Belfast Harbour Commissioners. • Public Records Office of Northern Ireland, a purpose built office development at Titanic Quarter • Belfast Metropolitan College, the provision of a college campus for 15,000 students at Titanic Quarter • Liberty Wharf, Jersey, a 190,000 sq.ft. mixed use development on land leased from the States of Jersey Development Company.

Section 1.d (iv) – Master developer experience on multi-use, multi-phase projects

• Titanic Quarter, Belfast, Northern Ireland • Park West, Dublin, Ireland • Liberty Wharf, Jersey, Channel Islands • Stanley Dock, Liverpool, England • Royal Haslar, Gosport, England A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

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1.d Experience

S W D u

• Titanic Quarter, Belfast, Northern Ireland • Liberty Wharf, Jersey, Channel Islands • Stanley Dock, Liverpool, England • Royal Haslar, Gosport, England

S A u

• Historic abattoir at Liberty Wharf • Victorian warehousing at Stanley Dock • 18th century military hospital at Royal Haslar • Harland and Wolff offices at Titanic Quarter A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

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Titanic Quarter, Belfast, Northern Ireland

Titanic Quarter occupies 122 hectares (300 acres) of land that was formerly part of the Harland & Wolff shipyard on Queen’s Island, Belfast. The scale of opportunity, waterside location and the his- tory of the site make it one of the most significant waterfront regeneration opportunities in a major European City today. Titanic Quarter will be a dynamic and imaginative, mixed use, city centre quarter for Belfast. It is the largest and most important employment, investment and regeneration opportunity to arise in Northern Ireland for a generation. Phase 1 (complete) Phase 2 & 2A: • 475 residential units • 2,000 Residential Units • Gateway offices –14,000 sq.m. • Offices - 37,000 sq.m • College Campus –20,000 sq.m. • Retail - 5,500 sq.m • PRONI Offices –8,000 sq.m. • Leisure - 10,000 sqm • 122 Bed Hotel • Financial Services Centre – 60,000 sq.m • Retail 2,600 sq.m. • 4 hotels • 0 sq.m. Visitor Attraction

Development Titanic Quarter was envisaged and masterplanned by Harcourt Developments Limited. The site is part-owned by the Belfast Port Authority from whom land is drawn down in phases on a pre-agreed basis. The development is a testament to the visionary skills of the team at Harcourt and the ability to transform those ideas to a successful reality.

Fast Facts 300 acres 2.5 million SqM Mixed use development 5,000 Residential Homes 41,000 SqM Leisure and Retail A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

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Titanic Quarter, Belfast, Northern Ireland A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

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Titanic Quarter, Belfast, Northern Ireland

The Titanic Signature Building, now known as Titanic Belfast®, was identified as one of five key tourism signature projects to enhance Northern Ireland’s tourism offering.

The 14,000 sq.m.(150,700 sq.ft.) venue accommodates nine galleries of interactive exhibition space, including a dark ride, underwater exploration theatre, recreations of the ship’s decks and cabins and a luxurious conference and banqueting suite with capacity for up to 1000 people.

Construction began in May 2009 and the building opened on 31 March 2012. It was been funded in partnership with Northern Ireland Tourist Board, Belfast City Council, Belfast Harbour Commission- ers & Titanic Quarter Limited (a Harcourt Developments related company). The building was constructed by another related entity Harcourt Construction (NI) Limited. A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

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Park West Business Park, Dublin, Ireland

Project: Park West campus is located just 6km from Dublin City, close to the M50 motorway. The Park extends to 230 acres accom- modating a mix of office (103,000sq.m), industrial (205,000sq.m), retail (6,000 sq.m) leisure and residential accommodation. www. parkwest.ie

Park West emerged from a brownfield site on which the Semperit tyre factory was located. The 230 acre site was purchased, masterplanned and developed by Harcourt Developments Limited. Fast Facts Description: Park West is now one of Ireland’s largest business parks. It has emerged to become a new centre where people can 230 acres combine work, recreation and residence, all in an environment of high quality buildings surrounded by inspirational artworks and impressive landscaping. 103,000 SqM Offices

The park is home to over 250 companies with approximately 205,000 SqM Industrial 6,000 employees. There are retail and leisure facilities established in the park consisting of 20 retail units, a Crèche, a public house 2,500 SqM Leisure and gymnasium with swimming pool.

Park West Pointe is the residential quarter of this innovative and 450 Apartment Homes dynamic new urban location. This development was a finalist in the ‘Best Residential Development’ at the Irish Property Awards 146 Bedroom Hotel 2005. 6,000 SqM Retail A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

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Park West Business Park, Dublin, Ireland A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

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Park West Business Park, Dublin, Ireland

Awards

• Park West has received numerous awards for its design, inge- nuity and corporate social responsibility including: • Dept of Environment Best Business Park in Irish Cities 2004, 2005, 2006, 2007 • Best Business Park South Dublin City Area 2005 • Best Business Park in Dublin 2005 • Finalist Residential Development of the Year 2005 • Irish Times Property Advertising Awards 2005 • Chamber of Commerce in Ireland - Corporate Social Responsi- bility Award 2004 • Local and National Green Awards 2004 • Business 2 Arts Awards 2004 • Operations Manager Fellowship 2003 • National Irish safety Organisation Award 2002 • The Security Institute Award 2002 • Business 2 Arts Award 2001 • Doras 5 star website Award 2001 • Plan Expo building of the Year Award 2000 A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

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Waterfront Developments, Jersey, Channel Islands

The Waterfront in St Helier, Jersey’s capital, is a project in conjunction with the government owned States of Jersey Development Company to redevelop the town’s waterfront area. Harcourt Develop- ments were selected as the preferred development partner for the Liberty Wharf site. The site was developed over a period of four years under a Development Agreement and Land Leases with the Waterfront Enterprise Board and the Public of the States of Jersey.

The subject site is located in a pivotal location between the town’s high street area and the emerging waterfront area. Used by the town as a car park for many years, the site had a number of historic buildings which were integrated into the masterplanned scheme.

Harcourt successfully created a mixed use scheme that respectfully restored the historic buildings and reused them to form an attractive retail mall. See images below. A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

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Royal Haslar, Gosport, England

The Property

This 62 acre site is the home of the former Royal Haslar Veterans Hospital. Completed in 1762, Royal Haslar was built to provide a dedicated military hospital for the Royal Navy. Set in parkland and overlooking the sea, the site is home to 154 existing buildings extending over approximately 75,000 square metres, with several being Georgian Grade II and Grade II* listed.

Located in Gosport, the site occupies a prime waterfront position overlooking the English Channel with views across the harbour and towards the Isle of Wight.

Harcourt Developments manage the existing site and the proposed redevelopment plans. Over the past 18 months Harcourt has worked extensively with its team of architects, heritage consultants, planners and environmental consultants to complete a materplan for the overall site which was successfully registered with Gosport Council in June 2013. It is anticipated that construction work will begin on site towards the end of the year.

The Scheme Through a programme of refurbishment of existing buildings and developing new buildings it is proposed to create a residential and healthcare village on the site. The completed development will include: 15 exclusive listed residential properties; 78 bed hotel and spa; 66 bed budget hotel; 180 private residential properties; community healthcare hub; 60 bed care home; 214 retirement homes; 113 affordable homes; commercial and retail space. A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

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Stanley Dock, Liverpool

Stanley Dock is landmark and key heritage asset, forming an important part of the world heritage site which defines this area of Liverpool City. The Dock comprises of former Victorian dockside warehousing. Work has begun on redeveloping this site com- mencing with an Apart-hotel which will be located in the North Warehouse.

Location

Stanley Dock is situated approximately 1.25 miles north of Liverpool city centre. It has prominent frontage to the main commuter routes running north from Liverpool city centre comprising regent Road (A5036) and Great Howard Street (A565). It is close to the Merseyrail Northern Line with the nearest station being Sandhills, approximately half a mile (1km) north east of the property. A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

1.0 - CAPABILITY OF DEVELOPMENT TEAM Stanley Dock, Liverpool

Victorian dockside warehousing in 3 principal buildings approximately 2 million sq.ft

Tobacco Warehouse : Constructed in 1900 and extending to 13 storeys it has an individual floor plate 99,000 sq.ft and is of tradi- tional solid brick construction.

Planning has been granted for: 335 live / work units 3,375 sq.m exhibition space 1,015 sq.m retail space 805 sq.m café/restaurant/bar 4,102 sq.m offices

North Warehouse – Phase 1 Completed in 1846 it extends to basement and 5 upper floor. Work is underway converting this building into a 150 room all suite hotel and 2,290 sq.m of commercial space at ground and basement level.

South Warehouse Situated south of the Tobacco Warehouse it is of brick construction with solid floors throughout. Plans are in place to convert the building into 104 bedroom budget hotel, 132 bed long stay hotel and 3,750 sq.m of commercial space at ground floor level. A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

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Royal Oasis, Grand Bahama

Spanning over 400 acres the former Royal Oasis Resort is located • O v e r 6 5 0 h o t e l just 50 miles off the coast of Florida. It is about to undergo a ma- rooms jor renovation and extension programme to become the premier • 1 0 0 0 T i m e s h a r e holiday and conference destination in the Bahamas. The hotel and units casino will be operated by Foxwoods Resorts and Casinos, owners • Casino of one of the largest casino resorts in the world. • Convention Cen- tre • Restaurants • Shops • Pools • Leisure Areas • Health Spa • 2 Golf UPGA Golf C o u r s e s

Tower Hotel

• Freeport, Grand Bahama – Harcourt owns approximately 600 acres on the island. It also manages the entire Bahamia subdivision which extends to over 2500 acres • Suffolk Court, Grand Bahama – new development of luxury waterside condominiums • Royal Oasis Resort, Grand Bahama – 450 acre resort to be operated by Foxwoods

Hotel following planned refurbishment

Foxwoods - Connecticut A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

1.0 - CAPABILITY OF DEVELOPMENT TEAM Sullivan Square, Las Vegas

Sullivan Square is a planned mixed-use development with a bal- • Fast Facts anced mix of residential, retail and office space on a 16 acre site in • 16 acres Las Vegas, Nevada. The site is located at I-215 and Durango (south- • 1 3 5 0 L u x u r y west), 6 miles from The Strip and only 8 miles from the McCarran Apartments Airport. • 1 3 S t o r e y O f f i c e • ‘Village’ Shops The proposed project will have turn of the century architecture, • Central Park four distinct product types, green technology, accessible neigh- bourhood amenities, and a retail space planned for stores such as cafés, a wine shop, bakery, fish market, and yoga studio. The teams commitment to sustainability and the environments will result in a goal of Goal Level LEED certification to ensure lower operation costs and a healthier living environment A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

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1.e. Development Funding

Harcourt’s proposed joint venture structure with the Port of Bellingham will require equity and debt funding that will be determined on a phase-by-phase basis.

1.f. Litigation & Legal Disputes

There is no current litigation or legal disputes that affect Harcourt’s ability to bring high-value redevelopment projects to global markets.

1.g. References

Please find attached references from Liverpool Vision, Titanic Quarter and The Department of Enter- prise, Trade and Investment Northern Ireland in respect of Harcourt Developments Ltd. A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

2.0 - DEVELOPMENT CONCEPT

The Harcourt and Tin Rock team propose a long-term holistic strategy for redevelopment. It is one that builds on the unique vision created by the Port of Bellingham, the City of Bellingham and the Bellingham Community and regards this Initial Development Opportunity as the entryway to the wider redevelopment of the entire Bellingham Bay Waterfront District.

The Vision Plan takes the initial development opportunity in a wider perspective and creates an overall plan with quality architectural design surrounding outstanding new public spaces. Its three dimensional form reinforces the new landscape of the Waterfront District edge and its new internal public park. Our Bellingham Bay Waterfront District Vision Plan creates a unified vision linking the surrounding Bellingham neighborhoods with, and through, the new Waterfront District’s public open spaces and parks.

We seek to go beyond meeting the four key principles of the vision for redevelopment contained within the RFP by creating outstanding public spaces and continuing the city’s signature parks and trails by creating new connectivity through an area of the city not previously open to the public. We commit to providing public access to the waterfront.

Our Vision Plan does not seek to resolve the many technical issues raised in the development opportunity. It presents a ‘vision’ within which to consider regulatory requirements and create a development of enduring value. It is a creative basis from which to resolve the technical issues rather than a strategic technical plan developed as a problem solving tool. A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

2.0 - DEVELOPMENT CONCEPT

A. Proposed Uses : Our Vision Plan proposes a classic mixed use development with initial projections of some 2,500 residential units and more than 6 million square feet of potential development – subject, of course, to detailed development assessment and regulatory review. Those uses would include high density, high quality waterside residential development including affordable housing with ground floor restaurants, cafes, bars, boutique shopping, maritime units, etc. The development would also envisage zoned areas for academic, office, institutional, creative technologies, and enterprise units, etc. The intended development concept promotes high quality public realm spaces in a main new public park and waterfront green space linking uses in an enduring live-work environment.

B. Bulk and Massing : Our Vision Plan proposes a modest height development concept that relates to the existing scale of Bellingham with 4-6 storey buildings throughout, though punctuated with ‘iconic’ 9-12 storey buildings in feature residential ‘lighthouses’ at the corners of the site: at the Granary Building: at the Cornwall beach corner; and at the pier head corner overlooking the bay. These modest but iconic towers will give visual focus and richness to the development and frame the vistas of the new public landscaped spaces. Alternative consideration to the retention of the Granary Building is a possibility. The new avenues of public space in ‘Bay Park’ through the middle of the development and along the new waterfront park edge will be defined by these ‘iconic’ buildings.

C T P P Our Vision Plan proposes a public and pedestrian-biased circulation system through the new public park and waterfront park edge to promote walking, cycling and public transportation as the sustainable modes of transport. Vehicular traffic will confined to hardstanding areas positioned to the periphery of walking and park areas. Parking will be contained within building footprints rather than as surface parking. Further assessment of parking requirements may require the provision of multi-storey parking but this would be considered as a longer term requirement.

D Su D Qu It is recognized that the scale of development both in the long term and short term raise significant Sustainability issues. The ‘Vision Plan’ commits to LEED objectives and will seek to exploit the available natural energy sources in the bay, on the site and in the wider environment. It is intended to engage a recognized sustainability consultant to assist with the delivery objective.

E Jobs : The estimate of any new jobs is entirely dependent on the final development mix. The Vision Plan supports the Port’s projections of 6,500 new jobs. A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

2.0 - DEVELOPMENT CONCEPT

F Affordable Housing : Our Vision Plan envisages the provision of affordable housing to meet the requirements of the brief. This necessary element will be provided as a component of the high quality residential development throughout the site.

G Brownfield Challenges : The geotechnical requirements of development will be considered at a future stage. These considerations will address the poor ground conditions, contaminated fill material and anticipated rises in sea level. Their influence on the ability to realize the Vision Plan, both in terms of technical issues and controlling development costs will be investigated. The Development Team brings significant experience from other previous brownfield development sites such as Titanic Quarter in Belfast, N. Ireland where similar issues are in play.

H Port Role : Our Vision Plan foresees the significant supporting partner involvement of the Port of Bellingham, as owner of the site, in realizing a long-term development plan.. The Port’s familiarity with many of the detailed issues and challenges of the site are critical to success. The Port’s appre- ciation and understanding of community issues reinforces the importance of the role of the Port in the site’s future development. It is envisaged that the long-term development of the site will not be possible without the full active involvement of the Port. A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

3.0 - PROPOSED FINANCIAL STRUCTURE

It is proposed that the transaction structure would reflect a 50/50 Joint Venture model between the landowner and the developer. In this instance the landowner’s contribution to the project is the provision of the required land. The developer will contribute their expertise in project planning and execution together with responsibility for project financing and construction management. The project surplus will then be split between the landowner and developer on an equal basis.

Responses to the details specifically requested in the RFP are as follows: a. Land Area It is envisaged that the land required will be as per the Vision Plan set out in earlier sections of this RFP. The land would be drawn down on a phased basis as pre-agreed with the Port of Bellingham. b. Project Phasing The phasing of the scheme will be as required by the masterplan and agreed with the various stake- holders to ensure that there is a coherent approach to the provision of infrastructure, services and public open space in tandem with the approved buildings. c. Purchase Price As set out above it is envisaged that as JV partners the landowners will benefit from a profit share mechanism. A base value can be agreed in advance if required. d. Earnest Money The developer will commit to funding the professional team required to complete the masterplan and secure successful entitlements for the first phase of the project. e. Timing and Transaction Commitment The developer is ready to commence work on progressing the Vision Plan and negotiating the proposed JV structure. The board at Harcourt are fully aware of this proposal and are keen see a successful outcome. Harcourt’s board also make decisions very quickly so we would not anticipate any delays in negotiating and agreeing the relevant terms of the agreement. f. Other Material Terms The proposal is not dependent on any subsidies or incentives. If it is appropriate TIF and other tax incentive funding mechanisms could be explored for this project. A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

4.0 - ACKNOWLEDGEMENT OF KEY BUSINESS TERMS

HCL / TRDI acknowledge the proposed key business terms as outlined within the RFP related to the IDO and Granary Building Project and propose that these are reviewed within the discussion with the Port of Bellingham of the alternative ‘Vision Plan’ concept presented within this proposal. A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

5.0 SUMMARY AND SIGNATURE

HCL / TRDI submit an alternative ‘Vision Plan’ development concept within this proposal within which an alternative IDO can be realised and would welcome discussions with the Port of Belling- ham to pursue this alternative concept in seeking to create a place of enduring value and quality public spaces and buildings as the ‘Ultimate Vision’ for the Port.

This proposal is submitted with the authority of the Board of Directors of Harcourt Developments Ltd and Tin Rock Developments Inc.

On behalf of Harcourt Developments Ltd and Tin Rock Developments Inc A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA

6.0 - FURTHER INFORMATION & CONTACT

Pat Power, Director Harcourt Developments Ltd Harcourt House 18-19 Harcourt Street Dublin 2 Ireland

Phone: + 353 (0) 1 4753928 Fax: + 353 (0) 1 4753943 Email: [email protected] A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WA, USA A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WASHINGTON, USA The Bellingham Bay Project Development Concept Support Drawings

July 2013 Submission by Harcourt Developments LTD / Tin Rock Developments INC ©Copyright Reserved - Robinson McIlwaine LLP ©Copyright Reserved - Robinson McIlwaine LLP A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WASHINGTON, USA

CONTENTS

1.0 AERIAL PLAN

2.0 INITIAL CONCEPT SKETCH 1

3.0 INITIAL CONCEPT SKETCH 2

4.0 INITIAL CONCEPT SKETCH 3

5.0 LANDSCAPE CONCEPT IMAGES

6.0 BUILDING CONCEPT IMAGES

7.0 THE ‘VISION PLAN’

8.0 3D MASSING STUDY

9.0 BUILDING USES

10.0 PRELIMINARY PHASING CONCEPT

11.0 OPTION TO RETAIN EXISTING GRANARY BUILDING

©Copyright Reserved - Robinson McIlwaine LLP A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WASHINGTON, USA

Waterfront District

RFP Site

Vision Plan Site

BELLINGHAM BAY

WATCOM WATERWAY

RFP Site 1st Development Phase

A E R I A L P L A N ©Copyright Reserved - Robinson McIlwaine LLP A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WASHINGTON, USA

INITIAL CONCEPT SKETCH 1 ©Copyright Reserved - Robinson McIlwaine LLP A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WASHINGTON, USA

INITIAL CONCEPT SKETCH 2 ©Copyright Reserved - Robinson McIlwaine LLP A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WASHINGTON, USA

INITIAL CONCEPT SKETCH 3 ©Copyright Reserved - Robinson McIlwaine LLP A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WASHINGTON, USA

LANDSCAPE CONCEPT IMAGES ©Copyright Reserved - Robinson McIlwaine LLP A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WASHINGTON, USA

BUILDING CONCEPT IMAGES ©Copyright Reserved - Robinson McIlwaine LLP A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WASHINGTON, USA

NEW POTENTIAL MARINA

BELLINGHAM BAY

WATCOM WATERWAY MARITIME HERITAGE ICONIC NEW PEDESTRIAN/ PARK TOWER NEW ENVIRONMENTAL CYCLE BRIDGE ICONIC WATERSIDE AMPHITHEATRE TOWER GREEN WATERFRONT PARK W. HOLLY ST

NEW POTENTIAL BAY ST MARINA NEW BAY PARK W CHESTNUT ST

COMMERCIAL ST ICONIC TOWER NEW CORNWALL CORNWALL AVENUE BEACH PARK RAILWAY LINE

THE ‘VISION PLAN’ ©Copyright Reserved - Robinson McIlwaine LLP A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WASHINGTON, USA

3D MASSING STUDY ©Copyright Reserved - Robinson McIlwaine LLP A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WASHINGTON, USA

Preliminary Development Area Potential

Commercial/Office - 2.2million ft2

Residential/Live-Work Units - 2.6million ft2 @ approx 2350 Units (GF Waterfront Retail) - 230,000 ft2

Iconic Residential Towers

University - 1.7million ft2

Creative Industry - 1.2 million ft2 Total Potential area 8 million ft2

BUILDING USES ©Copyright Reserved - Robinson McIlwaine LLP A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WASHINGTON, USA

Preliminary Phasing Concept

Phase 1 - 1.5million ft2

Phase 2 - 1.6million ft2

Phase 3 - 900,000ft2

Phase 4 - 1,million ft2

Phase 5 - 1,6million ft2

Phase 6 - 1,4million ft2

PRELIMINARY PHASING CONCEPT ©Copyright Reserved - Robinson McIlwaine LLP A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WASHINGTON, USA

OPTION TO RETAIN EXISTING GRANARY BUILDING ©Copyright Reserved - Robinson McIlwaine LLP A PROPOSAL FOR BELLINGHAM’S WATERFRONT DISTRICT REDEVELOPMENT WASHINGTON, USA

Netherleigh Massey Avenue BELFAST BT4 2JP Tel: 028 90529 577 Fax: 028 90529 543 Email: [email protected]

To whom it may concern

The Department of Enterprise, Trade and Investment is working with Harcourt on the development of the Titanic Quarter in Belfast, Northern Ireland. This is landmark development and has provided a positive contribution to the city of Belfast. Harcourt has been instrumental in the successful delivery of this project to date.

Yours sincerely

MIKE THOMPSON HEAD OF TOURISM, TELECOMS AND GSNI POLICY