Ashley Greens

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Ann Arbor Real Estate Development Project

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Ashley Greens

An All Inclusive Green Community in the Heart of Downtown Ann Arbor

December 4, 2008 Peter Allen, Adjunct Professor Stephen M. Ross School of Business University of Michigan 701 Tappan Street Ann Arbor, MI 4810 Dear professor Allen,

Enclosed please find the LiveGreen, LLC proposal for Ashley Greens, a dynamic mixed use development, located on Ashley and William in Ann Arbor, Michigan. LiveGreen, LLC is dedicated to designing unique, eco-friendly projects which preserve the aesthetic of traditional downtowns while simultaneously creating modern and hip urban spaces. Ashley Greens takes one step beyond eco-friendly design and construction to create an innovative Green Living experience for residents and the larger Ann Arbor community. Ashley Greens envisions a multi-faceted mixed use development combining local retail, residential, commercial, and community space. Our commercial services are specially tailored to provide Eco-Friendly Local options for residents and the downtown community, including access to green dry-cleaning, health club, public space, and a local food Co-Op. Capitalizing on our experience with environmentally friendly construction and design, Ashley Greens will provide a variety of eco-friendly owner occupied and rental units, including 25% affordable housing. We hope you will find our plan to be an innovative option for this site. Thank you in advance for your time and consideration. Sincerely,

Josh Myles MACC

Edward Cox MBA

Charles Long MArch

Priya Baskaran JD/MUP

ABOUT USLiveGreen is a Michigan Limited Liability Corporation. We are member managed, believing our various academic background, professional expertise, and life experiences have unique and invaluable contributions for our collective vision. Our corporate structure offers a number of important benefits for Live Green, including: Limiting Liability: General partnerships make members and partners personally liable for all business related debts, claims, and obligations. In contrast, LLC structure protects individual members from personal liability for claims and debts pertaining to their business. Furthermore, the LLC ensures only business assets are used to pay off business debts, making sure members personal assets and investments are protected. Taxation A multi-member LLC is taxed as a partnership by default and therefore also provides pass-through taxation for its owners. However, an LLC also has the option to be taxed as a corporation while still retaining the legal benefits of being classified as an LLC. Management As a member-managed LLC, managerial control and binding authority are vested in all of the members (owners) of the LLC, allowing for a productive and cooperative management structure.

EXECUTIVE SUMMARYBuilt on footprint of 55,000 square feet of grounds adjacent to one of Michigans best main streets, Ashley Greens is a mixed use development that will delight downtown Ann Arbor with options for sustainable living, working and playing. The development is composed of three main buildings: Earth, Wind, and Sun. Ashley Greens primary objective is to further enhance the remarkably strong sense of community in Ann Arbor while creating environmentally responsible development. The design reflects a consensus between the existing community, the development team and the private sector. The building offers a full spectrum of uses and activities including space for retailers as well as commercial and residential units. Sustainability and Green Living is the central theme of the development. In preparation for the new economic and environmental realities that confront the next generation, Ashley Greens will closely adhere to the following goals: 1) Creating an Enduring and Memorable Public Realm 2) Integration with Existing Urban Communities 3) Investing in Sustainability

Project ConceptAs Ann Arbors first Green Living development, Ashley Greens is the future of eco-friendly urban living in the Midwest. What is Green Living? A complete eco-friendly lifestyle which emphasizes reducing adverse environmental impacts through: Green Construction (LEED Gold Building) Maximizing Walk-ability Mulit-Modal Transit Oriented Development Green business promotion

Green Living allows residents of Ashley Greens to enjoy all the typical advantages and services of all-inclusive urban living without the high environmental costs.

ResidentialAshley Greens includes an array of rental and for sale housing options in the heart of downtown Ann Arbor. Ashley Greens will have 64 of units of housing, including 40 Units in Wind, 16 Units in Sun, and 8 Units in Earth. All of our units feature eco-friendly construction, maintaining maximum comfort and minimizing environmental impact. At Ashley Greens we are dedicated to promoting positive social impact, including providing viable and affordable rental

options. Plans for our Sun building include 16 of Affordable Housing units.

Public SpaceAt the heart of Ashley Greens is a 18,600 s.f. courtyard. Our homage to traditional public space, the courtyard creates a vibrant and dynamic urban space comparable to Manhattans Union Square. The courtyard provides a venue for community building events, people watching, and provides prime outdoor seating for first floor retail. The courtyard is functional year round, thanks to geothermal heating vents placed strategically around the courtyards perimeter.

RetailIn line with Downtown Ann Arbors commitment to eclectic local business, the Greens offer prime retail space for ecofriendly enterprise. Residents and visitors to the Greens have access to specialized local Green Businesses including a grocery store stocked with local organic produce and environmentally friend dry cleaning. Other retail tenants include a local organic brewery and pub A full service luxury Green Health club and nutrition center is planned for the second floor of the Sun building. The 7125 square foot facility comes complete with aromatherapy spa services, acupuncture, and fitness classes.

TransitAshley Greens is a transit oriented development. Located on a major transit corridor, the Greens provide easy access to public transportation. Recognizing that successful development must also be mutli-modal, the Greens provide limited underground parking for tenants and visitors. The developments proximity to Ann Arbor 5 of downtown garages further enhances its accessibility.

Commercial Office SpaceThe Greens offer truly unique commercial office space for our tenants. Emphasizing all inclusive living, our commercial tenants feature a number of specialized professional service providers including personal and corporate accounting services and day care providers. 9,600 s.f. of general office space is also available in our Earth Building.

Market AnalysisCapitalizing on the concept of 1000 nights, Ashley Greens creates an ideal urban space for Ann Arbors burgeoning creative class to live, work, and play. Ann Arbor is an extremely young population with a median age of 29.7 for 2007. Ann Arbor is ranked 24th on 50 greenest cities Proximity to the entertainment district makes Ashley Greens an ideal location for a mixed use development.

Community ImpactAshley Greens will be a high-density mixed use development. The development is perfectly tailored to meet the planning objectives of the D-1 zoning district proposed by the City

Council. Continued collaboration with the DDA will ensure preservation of the Downtown aesthetic and commitment to local business. Additionally, the courtyard creates an ideal public space for community building events such as film nights and local festivals.

Table of ContentsSite Analysis .................................................................................................................................................................................. 1 Overview .............................................................................................................................................................................................. 1 Zoning .................................................................................................................................................................................................. 2 Traffic Flow .......................................................................................................................................................................................... 4 Pedestrian Access ................................................................................................................................................................................ 5 Market Analysis............................................................................................................................................................................. 6 Overview.................................................................................................................................................................................................. 6 Economic Analysis ................................................................................................................................................................................... 7 Demographic Analysis ............................................................................................................................................................................. 8 Community Oriented Retail .................................................................................................................................................................. 10 Residential Unit Mixture ....................................................................................................................................................................... 1