8

Cambridge Streets

  • Upload
    ad

  • View
    226

  • Download
    0

Embed Size (px)

DESCRIPTION

m

Citation preview

  • ,IVWUHHWVDQGVLGHZDONVDUHWRXQLI\UDWKHUWKDQGLYLGH&DPEULGJHDQG0,7PXVWZRUNWRJHWKHUWRGHYHORSDPRUHFRPSUHKHQVLYHDSSURDFKWRLQIUDVWUXFWXUHDQGVWUHHWLPSURYHPHQWV

    6WUHHWVDQGVLGHZDONVDUHIXQGDPHQWDOWRRXUSHUFHSWLRQRIWKHLGHQWLW\RISODFHVDQGFRPPXQLWLHVSXEOLFRUSULYDWHRSHQRUFORVHG:KHQVWUHHWVDQGVLGHZDONVDUHLQFRKHUHQWRUDUHHQFURDFKHGXSRQE\SULYDWHDQGFRUSRUDWHVSDFHWKHSXEOLFUHDOPLVHURGHG

    7KHTXDOLW\RIWKHVWUHHWVVLGHZDONVDQGSHGHVWULDQSDWKVLQWKHQHLJKERUKRRGDURXQG)RUW:DVKLQJWRQLVH[WUHPHO\YDULHG:KLOHVRPHVWUHHWVDQGVLGHZDONVDUHZHOOGHVLJQHGDQGZHOOWHQGHGRWKHUVDUHQDUURZFUXPEOLQJDQGQHJOHFWHG5RDGVDUHVSDWLDOO\IUDJPHQWHGFKDQJLQJWKHLUFKDUDFWHUPDWHULDOVOLJKWLQJWUHHVZLGWKDQGTXDOLW\IUHTXHQWO\VRPHWLPHVDVRIWHQDVWHQWLPHVZLWKLQDVLQJOHEORFN7DNHQWRJHWKHUWKLVLQFRQVLVWHQF\DQGODFNRIPDLQWHQDQFHQRWDEO\ZRUVHWKDQHOVHZKHUHZLWKLQ&DPEULGJHFRQWULEXWHWRWKHSHUFHSWLRQWKDWWKHQHLJKERUKRRGLVXQZRUWK\RIDWWHQWLRQMXVWDQRWKHUUXQGRZQH[LQGXVWULDOMXQN\DUG

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

  • &DPEULGJHPDMRUSXEOLFVSDFHLPSURYHPHQWSURMHFWV&''(QYLURQPHQWDO7UDQVSRUWDWLRQ3ODQQLQJ&DPEULGJHSRUW5RDGZD\V5DLODQG7UDLODQGF\FOHVSXU0DVVDFKXVHWWV$YHQXHVRXWK/DID\HWWH6TXDUH

    &LW\RI&DPEULGJH'3:&XUUHQWSODQQHGURDGUHVXUIDFLQJSURMHFWV

    &LW\RI&DPEULGJH'3:6WRUPZDWHUDQGVHZDJHV\VWHPLPSURYHPHQWV6KDUHGPDQKROHIRUUHSDLURUUHSODFHPHQW$OLJQPHQWRIPDMRUVWRUPGUDLQ2XWIDOO

    %RVWRQ5HGHYHORSPHQW$XWKRULW\&KDUOHV5LYHULPSURYHPHQWSURMHFW0DJD]LQH%HDFK0DVVDFKXVHWWV$YHQXH

    8UEDQULQJDOLJQPHQWVXQGHUFRQVLGHUDWLRQ

    0,79DVVDU6WUHHW:HVWDQG$PKHUVW$OOH\UHSDYLQJSURMHFWV

    0,7FXUUHQWSODQQHGXWLOLW\LPSURYHPHQWV

    7KHLQWHUYHQWLRQV FXUUHQWO\LQSLSHOLQHERWKIRUQHDUDQGORQJWHUPIDOOLQWRWZRSULPDU\FDWHJRULHV

    !0DMRUSURMHFWV VXFKDVSXEOLFUHDOPLPSURYHPHQWSURMHFWVWUDIFRUHQJLQHHULQJSURMHFWVRUVWUHHWDQGODQGVFDSHZRUNVDVVRFLDWHGZLWKPDMRUGHYHORSPHQWV&XUUHQWO\VHYHUDOGLIIHUHQWERGLHVVHPLLQGHSHQGHQWO\SXUVXHDQGFRRUGLQDWHSURMHFWVLQWKHDUHDHDFKZLWKPXOWLSOHUHJLRQVRIRYHUODSZLWKRQHDQRWKHUVSURMHFWVDVGHSLFWHGLQWKHPDSDERYH

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

    ,WLVWKH&LW\VSROLF\WRUHSODFHH[LVWLQJVLGHZDONVZLWKWKHVDPHPDWHULDOFRQFUHWHZLWKFRQFUHWHEULFNZLWKEULFN+RZHYHUGXULQJWKLVSURMHFWKRPHRZQHUVZLOOKDYHWKHRSWLRQRIUHSODFLQJFRQFUHWHVLGHZDONVZLWKEULFN

    'HSDUWPHQWRI3XEOLF:RUNVQRWLFDWLRQIRU6SDUNV6WUHHWSURMHFW

    !6PDOOVFDOHLQWHUYHQWLRQV VXFKDVFRPPHPRUDWLYHWUHHSODQWLQJFKDQJHVWRVLGHZDONVDQGIHQFHVRXWVLGHKRXVHVDQGRIFHVRUQDPLQJLQWHUVHFWLRQV7KHVHDFWLRQVDUHXVXDOO\LQLWLDWHGRUFDUULHGRXWE\LQGLYLGXDOVRUVPDOOVFDOHLQVWLWXWLRQV

    &DPEULGJHSRUWV&KDQJLQJ6WUHHWV

    7KHQH[WWZR\HDUVZLOOZLWQHVVDQXQXVXDODPRXQWRIVWUHHWDQGLQIUDVWUXFWXUHLPSURYHPHQWSURMHFWVERWKLQWKH&DPEULGJHSRUWQHLJKERUKRRGDQGLQ0,7VFDPSXVDQGVXUURXQGLQJV7KHRSSRUWXQLW\IRUERWKVWDNHKROGHUVWRFRRUGLQDWHWKHLUDFWLYLWLHVWRLPSURYHDQGXQLI\WKHLUVKDUHGHQYLURQPHQWDURXQGWKH)W:DVKLQJWRQDUHDLVXQSUHFHGHQWHG1RZSHUKDSVPRUHWKDQHYHULVDJUHDWZLQGRZRIRSSRUWXQLW\WRVKDSHWKHFKDUDFWHURIWKHHGJHGLVWULFW

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

    ,QGLYLGXDOFODLPRIWKHVLGHZDONOHDGVWRDGLVMRLQWHGDQGDOLHQDWLQJVWUHHWHQYLURQPHQW

    !,QFUHPHQWDOFKDQJH LQFOXGLQJUROOLQJVWUHHWDQGVLGHZDONUHSDLUZRUNSUXQLQJDQGWUHHSODQWLQJ7KHVHSURFHVVHVDUHODUJHO\PDQDJHGE\&DPEULGJHV'HSDUWPHQWRI3XEOLF:RUNV0,7VIDFLOLWLHVGHSDUWPHQWVDQGSULYDWHFRPSDQLHV

    &DPEULGJHDOVRDOORZVDKLJKOHYHORILQWHUYHQWLRQLQWKHSXEOLFUHDOPE\LQGLYLGXDOODQGRZQHUVDQGVPDOOFRPPXQLW\JURXSV+RPHRZQHUVFDQUHTXHVWWUHHSODQWLQJUHSDLUVDQGUHSDYLQJDQGDOVRKDYHUHVSRQVLELOLWLHVWRZDUGVWKHVLGHZDONDGMRLQLQJWKHLUSURSHUW\LQFOXGLQJVKRYHOLQJVQRZDQGWHQGLQJVWUHHWWUHHV,QDGGLWLRQ&DPEULGJHSROLF\DOORZVUHVLGHQWVWRVHOHFWWKHW\SHRISDYHPHQWRXWVLGHWKHLUKRXVHGXULQJVLGHZDONXSJUDGHV

    8QIRUWXQDWHO\7KHVHLQGLYLGXDOGHFLVLRQVPDGHZLWKRXWUHIHUHQFHWRDQ\VRUWRIRYHUDUFKLQJVWUXFWXUHRUJXLGDQFHFRPELQHWRJHQHUDWHDPLVPDWFKHGDQGLQFRKHUHQWVWUHHWVFDSHEOXULQJWKHGLYLGHEHWZHHQSXEOLFDQGSULYDWHDQGHURGLQJWKHVHQVHRISXEOLFRZQHUVKLSRIWKHVWUHHWV

  • M M M D V R Q GI P D P M M M D V R Q GI P D P M M M D V R Q GI P D M I P DP

    7KHVWRU\RIDVWUHHW

    PLJKWORRNOLNHWKLVLQ\HDUVWLPH

    6\GQH\6WUHHW$3UREDEOH6FHQHULR:LWKLQ&DPEULGJHVXQFRRUGLQDWHGV\VWHPRIVWUHHWLPSURYHPHQWVWRGD\VUHODWLYHO\XQLHG6LGQH\6WUHHW

  • 7KH6LGQH\6WUHHWRIWRGD\6LGQH\6WUHHWLVRQHRIWKHPDMRU&DPEULGJHSRUWVWUHHWVUXQQLQJIURP0DVVDFKXVHWWV$YHQXHWRWKHULYHU2YHUUHFHQW\HDUVDVHULHVRIPDMRULQWHUYHQWLRQVWRWKHSXEOLFUHDOPDVVRFLDWHGZLWKQHZGHYHORSPHQWVKDYHUHVXOWHGLQFRQFHQWUDWHGDUHDVRIFKDQJH$WWKHVRXWKHQGRIWKHVWUHHWDUHODWLYHO\QHZKLJKGHQVLW\KRXVLQJGHYHORSPHQWEURXJKWGLVWLQFWFKDQJHVWRWKHUHVLGHQWLDOQHLJKERUKRRGDQGLWVVWUHHWVFDSH0RUHH[WHQVLYHZHUHWKHFKDQJHVEURXJKWE\WKH8QLYHUVLW\3DUNGHYHORSPHQWZLWKDQHQWLUHO\QHZVWUHHWGHVLJQDQGDSSHDUHQFHZLWKLQDYHU\OLPLWHGDUHD

    0HDQZKLOHLQWKHPLGGOHSRUWLRQRI6LGQH\6WUHHWWKHPRQWKE\PRQWKPLQRUUHSDLUZRUNFDUULHGRXWE\WKH'HSDUWPHQWRI3XEOLF:RUNVUHVLGHQWVDQGEXVLQHVVRZQHUVEURXJKWSLHFHPHDOLQFUHPHQWDOFKDQJHTXLWHXQOLNHWKHFKDQJHVDWERWKHQGVRIWKHVWUHHW

    6DQVFKDQJHWR&DPEULGJHSROLFLHV6LGQH\6WUHHWRI'HYHORSPHQWVDWWKHHQGVRIWKHVWUHHWFRQWLQXHWRLQWHQVLI\WKURXJKWKHHQGRIWKLVGHFDGHZLWKWKHGHYHORSPHQWRI/DID\HWWH6TXDUHDQGWKHH[WHQVLRQRI:DYHUO\6WUHHW7KHVHSURMHFWVFRQWLQXHLQGHSHQGHQWO\ZLWKRXWDQ\FRRUGLQDWLRQGXHWRLQDELOLW\WRIRUHVHHWKHXQLI\LQJSRWHQWLDORI6LGQH\6WUHHW,QWKHPLGGOHRIWKHVWUHHWQHZEXVLQHVVGHYHORSPHQWVDQGKRPHRZQHUVZLOOFRQWLQXHWRH[HUWWKHLURZQORFDOLQWHUYHQWLRQVLQWKHSXEOLFUHDOPZKLOHWKHFLW\SXUVXHVXQFRRUGLQDWHGLQIUDVWUXFWXUHSURMHFWV

    3URSRVHGDGMXVWPHQWVWRPDQDJHPHQWSURFHVVLPSOHPHQWHG$OWHUQDWLYHSRWHQWLDOIRU6LGQH\6WUHHW7KLVLPDJHSRUWUD\VDSODQWRV\QWKHVL]HLQWHUYHQWLRQVDORQJ6LGQH\6WUHHWLQWHOOLJHQWO\WKURXJKFRRUGLQDWHGSODQQLQJDQGDFRKHVLYHIUDPHZRUNRIGHVLJQJXLGHOLQHVZKLFKDIIHFWWKHHQWLUHOHQJWKRIWKHVWUHHW1HZGHYHORSPHQWVDQGSXEOLFSURMHFWVZLOOEHUHTXLUHGWRFRRUGLQDWHWKHLUVWUHHWVFDSHLPSURYHPHQWVDQGLQWHJUDWHZLWKWKHQRUPDOPDLQWDQHQFHF\FOHVRIWKHVWUHHW

    6LGQH\6WUHHWDW0DVVDFKXVHWWV$YHQXHZKHUH8QLYHUVLW\3DUNVLWVWRGD\FLUFD

    6LGQH\6WUHHWDW0DVVDFKXVHWWV$YHQXHWRGD\9LHZWRZDUGV/DID\HWWH6TXDUH

  • 7KH)RUW:DVKLQJWRQQHLJKERUKRRGQHHGVDSXEOLFUHDOPWKDWLV!$FRKHUHQWEDFNJURXQGXQLWHGE\PDWHULDOVDQGGHVLJQWUHDWPHQWV!7UXO\SXEOLFDQGLQYLWLQJWRDOOQRWMXVWWKHUHVLGHQWVRIWKHEXLOGLQJVWKDWDEXWLW!&RQQHFWHGIRUPLQJDQHWZRUNWKDWIDFLOLWDWHVDQGHQFRXUDJHVPRYHPHQW!'XUDEOHFRQVWUXFWHGWRZLWKVWDQGWKHWHVWRIWLPHDQGFRQVWDQWXVH!*HQHURXVZLWKDPSOHURRPIRUSHGHVWULDQVELF\FOLVWVDQGDXWRPRELOHV

    3ULQFLSDOJXLGHOLQHV

    7RHQKDQFHWKHIRUPDQGIXQFWLRQRIWKH)RUW:DVKLQJWRQQHLJKERUKRRGSXEOLFUHDOPZHUHFRPPHQGWKDW0,7FDUU\RXWWKHIROORZLQJWDVNV

    !&RRUGLQDWHZLWK&DPEULGJH&RRUGLQDWH,QVWLWXWHVWUHHWVFDSHDQGLQIUDVWUXFWXUHXSJUDGHVZLWKWKH&DPEULGJH&RPPXQLW\'HYHORSPHQW'HSWDQG'HSWRI3XEOLF:RUNV7KLVFRRUGLQDWLRQFRXOGWDNHDQXPEHURIIRUPVUDQJLQJIURPVWURQJHUFKDQQHOVRIFRPPXQLFDWLRQWRMRLQWO\SODQQHGRUMRLQWO\IXQGHGSXEOLFUHDOPLPSURYHPHQWSURMHFWV

    !&RQQHFWHGQHVV'HVLJQWRGHHPSKDVL]HWKHWUDQVLWLRQEHWZHHQ&LW\DQG,QVWLWXWH:KHQXSJUDGLQJWKHSXEOLFUHDOPDURXQG0,7LQFRUSRUDWHVWUHHWWUHHVDQGIXUQLVKLQJVWKDWEOHQGZLWKWKHVXUURXQGLQJ&DPEULGJHGHVLJQDHVWKHWLF$YRLGFRQWHPSRUDU\GHVLJQHOHPHQWVVXFKDVWKHVWUHHWVOLJKWVWKDWZHUHUHFHQWO\LQVWDOOHGRQ9DVVDU6WUHHWWKDWDUHRXWRINHHSLQJZLWKWKHLUQHLJKERULQJFRQWH[W

    5HFRPPHQGDWLRQVIRU0,7

    7KH0,7FDPSXVFRQWDLQVDWRWDORISDYLQJVXUIDFHV

  • 7RHQKDQFHWKHIRUPDQGIXQFWLRQRIWKH)RUW:DVKLQJWRQQHLJKERUKRRGSXEOLFUHDOPZHUHFRPPHQGWKDWWKH&LW\RI&DPEULGJHFDUU\RXWWKHIROORZLQJWDVNV

    !'HYHORSDFRRUGLQDWHGVWUDWHJ\IRULQIUDVWUXFWXUHLPSURYHPHQW 1HHGPRUHKHUH7KLVVWUDWHJ\ZRXOGHPSKDVL]HWKHLPSRUWDQFHRILQWHJUDWLQJQHZLQWHUYHQWLRQVZLWKLQWKHH[LVWLQJVWUHHWIDEULF

    !&UHDWHDUHDJXLGHOLQHV7KHIRFXVRIWKHVHJXLGHOLQHVZRXOGEHDVWUDWHJ\IRUFUHDWLQJDFRQVLVWHQWDQGFRKHUHQWSXEOLFUHDOP6SHFLFVWDWHPHQWVZLWKLQWKLVVWUDWHJ\ZRXOGGHVFULEHWKHLQWHQGHGFKDUDFWHURIDQDUHDDQGRXWOLQHLQWHQWLRQVIRULWVLPSURYHPHQWDGGUHVVLQJVXFKWKLQJVDVPDWHULDOVSHFLFDWLRQVSODQWLQJOLJKWVDQGVWUHHWIXUQLWXUH7KLVVWUDWHJ\LVQRWLQWHQGHGWRHQIRUFHEODQGXQLIRUPLW\EXWUDWKHUWRFUHDWHORFDOJXLGHOLQHVWKDWLPSURYHWKH&DPEULGJHSRUWVWUHHWVFDSHKROLVWLFDOO\UDWKHUWKDQSLHFHPHDO

    !&UHDWHGHWDLOHGOD\RXWJXLGHOLQHV 6XFKJXLGHOLQHVPLJKWLQFOXGHUXOHVFRQWUROOLQJWKHPLQLPXPDPRXQWRIVXUIDFHWKDWFRXOGEHUHSODFHGDWRQHWLPHPDQGDWLQJFRQVLVWHQF\LQOLJKWLQJRUVWUHHWIXUQLWXUHGHVLJQDQGSODFHPHQWRUSURYLGLQJJXLGDQFHLQGHDOLQJZLWKGLIFXOWHGJHVDQGMXQFWLRQV

    !&RQVLGHUWKHXVHRIDFHQWUDOL]HGPHFKDQLVPIRUIXQGLQJVWUHHWLPSURYHPHQWV &ROOHFWLQJFRQWULEXWLRQVIURPQHZGHYHORSPHQWVFHQWUDOO\DQGXVLQJWKLVVLQJOHSRWWRIXQGVWUHHWSURMHFWVWKURXJKRXWWKHDUHDFRXOGEHDZD\WRDFFHOHUDWHSRVLWLYH

    5HFRPPHQGDWLRQVIRU&DPEULGJH

    UHYHQXHVRXUFHVIRUVWUHHWLPSURYHPHQWVWRIXQGSXEOLFUHDOPSURMHFWV&DPEULGJH\LHOGVERWKDODUJHUIXQGLQJSRRODQGDPRUHFRQVLVWHQWVWUHHWVFDSH