 Thank you very much for coming out today taking time out of your day to come and You know come and look at our our vision for for the city place project My name is on in Olson And I've along with myself and a number of other people here in the room. We're representing ownership of the project We've got a number of our local Consultants here as well you're gonna hear from Jesse Beck our architect He's going to take us through the plans But we are we're just we're excited to show you our progress over the last 90 days I know you haven't seen us in three months, but this is the this is the product that came out of the last 90 days So we're kind of excited to share and I'll introduce Jesse back Can can you hear me? Is that good? How close you bring it to your lips? So We have a slide deck here to walk you through the project as it stands today to get people oriented again, we all know where the the site is but On the top is Cherry Street Bank Street to the south the two new streets Pine Street and St. Paul Just like we had before But we will see here as we've highlighted 67 Cherry Street Which will be repurposed into a mixed-use building? Taking some of the uses from the prior project into that building and that will be under a completely separate project separate development From City Place Burlington What we're really focusing on today is City Place and the Design that we're putting forth But at the same time many of the aspects of the prior project are in this project So as far as the Great Streets program New Pine and St. Paul same project We are still Accessing through 100 Bank for the new Pine This is Bank The loading dock was here prior at Stays New St. Paul and Cherry what has changed is the Entrances to the parking structure So entrances to the parking structure off the St. Paul new St. Paul and off Pine There are other points of entry off the the street level So that we have a public parking access point with elevators and stairs Bicycle entrance with storage long-term storage showers And then the main entrances to the south building and The main entrance to the north building So this is the current program that you're seeing in the slides and What we have done is we've increased the number of housing units to 357 from roughly 289 That also helps us increase the affordable units to 72 affordable units within that 357 The change in the program was on the south building there was a tall commercial tower glass tower Which we have changed to a 196 room hotel with amenity space on the on the first floor We've reduced the amount of retail space around the streets to 45,000 it was upwards over 90,000 prior and that was because it's primarily a one-story retail not two stories We're still reconnecting the streets The parking the number of parking stalls is 550 and that's all drive-in and their stripe stalls and 297 bike stalls both long-term and short-term combined The overall gross fare footage has reduced roughly 25 percent. It was over a million prior And we're around seven sixty three thousand currently, which is that 25 percent reduction in total square footage So we'll go into renderings and and give you a good visual around the entire site This is a vantage point that everyone has seen before Showing the we've got a little That was the height prior the white shadow up top and so we are a 10-story building On this corner and what you're looking at is you're looking down cherry to the west the new st. Paul going south and the residential Block on the north building It's a little better to see the change in mass height and scale via this section This is a section cutting through the buildings north to south And What you'll see is the height of the previous project in this dark gray And it's a 50 over a 50-foot reduction in height from a 14-story building to a 10-story building So we've lowered at four stories over 50 feet This is the the north building of residential It's really eight floors a residential with a level of retail at street grade and Then an amenity level and mechanical space along the top of the building Like before the the parking is occupying the center of the mass of the site And we do have a basement level of parking of over 200 spaces The south building is also lowered That's over two stories that we're lowering the south building which is now the hotel program and amenities With retail full retail on the street frontage So that's the cross-section of the current project With the with the heights so back to the vision back to the aesthetics the materials We'll run through a series of renderings and Talk about some of the features This rendering is looking up Church Street towards the east with The new pine Street. Yeah, Cherry Street to the east and the new pine Street I Mentioned that we still have a full level of retail around the the base of the streets activating the street There are three levels of housing a step back Another five levels of housing for a total of eight levels of housing and Then the amenity space steps back again on the top and that's the last story of this this building So that's the ten stories from there to here. There's nine stories from here to here Also, I'd like to point out the garage entrance is down the new pine at this location some of the materials and features We are looking at primarily a brick building with two colors of brick There'll be accents with the bay windows that we had before Here, but we're also continuing with bay windows on the upper five levels as well The the retail storefronts going down new pine you can see 100 Bank and the drive-through To keep going south This viewpoint is looking north on the new st. Paul illustrates the second Entry to the parking structure the the brick the brick detailing bay windows the second color of brick This is the public entrance that accesses the parking structure and elevator to service all four levels of the parking structure and Then the street activation of retail Along the new st. Paul on the south side of the development we've changed the approach from a glass box for the previous commercial and Now we're looking at a masonry structure top-to-bottom With the lower levels being of a limestone The previous loading dock remains where it is next to 100 Bank The lobby entrance a hotel entrance and the public entrance is here and that Public entrance will service the observation deck on this level and it'll be a full service restaurant on top open to the public with outdoor seating and You get a glimpse of how the hotel turns the corner and goes up the new st. Paul So again the public observation deck is on this level The observation deck is on this level right here getting closer into the St. Paul and Bank Street So you're seeing Bank Street going West 100 Bank the entrance lobby to this building and Then the corner retail so just to sort of summarize some of the the Areas that we targeted and the public benefits We've increased the number of housing units, which does increase the affordable units We're still reconnecting the two new streets It's still a sustainable design project Going for lead goal certification We'll have green roof areas solar PV 100% of treatment of stormwater similar to before Community access So we do have the community's meeting space the observation deck open to the public bathrooms and bike parking and showers and We feel that the hotel will enhance the the rooms and meals tax. So this is just a quick summary of The program and what we're trying to achieve So that's our quick run through the design and what we've been doing for the last three months and We'll open it up to questions and answers And please use the mic in the aisle It's all set up and then we'll direct the proper person to answer the questions a lot of people want to speak so please Keep it as brief as you can I'm Grateful that there's a Community benefit Component of the design it was just described as a community meeting space So I'm curious will Brookfield have on staff somebody who is Intending to build relationships with community organizations and sustain them and activate this community space Community space that's indoors in our cold weather You know region is important and I wonder if you take that need to heart and Move it forward publicly or if it will be a passive benefit And I also wonder if you'll be working with the city to animate the amenities of the sidewalk Or if they will be as straightforward as they're presented in this presentation Yeah, I'll do the second half you do the first half sure Yes, the the intent is to have that community space be actively managed We already work very closely with your your business associations the city obviously We have on-site management. There is you know, we've got a website and you know social media outlets and things like that So yes, it will be actively managed And I think I can cover the the sidewalks as well Yes, they will be they will be activated It's it's part of kind of a vibrant city And and that's the reason why you have retail built into the base of your buildings and written right into your code So is is just that? We like to think that these these projects are won and lost and like in that first 10 feet of elevation because that's what people See and feel and interact with so We like we like a an active sidewalk environment. Thank you How will the affordable housing be configured? Will it be distributed throughout all of the housing or what's your plan for the affordable housing? It'll be it is distributed around the building you know Maybe not on the top floor, but generally around the rest of the building indiscriminate as a single entry into the building So it's you know, there's no the intent is nobody will know what units are affordable and what units aren't You know, they will be Managed in the same way that all the rest of the units are managed And you know, we're excited to be able to bring this many affordable units To downtown Burlington. Thank you Thank you very much for coming in now giving a presentation to us Citizens of Burlington have been very anxious to learn more about the project what's going on with the what's called here the hole in the ground In the middle of town. I have to say there are a couple of things that you did not address whatsoever Which is which includes the portion of the property that address that faces Church Street and of course we're interested in hearing about that I have kind of a might for some people be an esoteric question, but You may have already explained this to the city council, but this being a public meeting would like you to Explain to us the institutional changes that have have occurred. So originally the plan was With Don Sinex was to Have a 14-story building We know that somehow Something happened and they had to hand it off to Brookfield and Could you just basically explain who the investors are what the? Institutional structure of this Planning group is so that we can understand who's accountable for this project So it is it is a joint venture Project between Brookfield and then Devon would and Brookfield through subsidiaries has always been involved for several years even while Devon would was was leading the project So that has has not changed What has changed is just the scope and scale the project the constructability of the project and that's that's The the ownership doesn't necessarily matter what what is Constructible and was correct for the market we really think is is the most important part of the project what can be built Okay, thank you Would you would could you please address your plans to show the public your plans for the sections? You talked about redeveloping the Macy's block and we also have that block that faces on Church Street need to hear more about that Yeah, those those will be addressed separately. They're They're separate applications. There's a separate block and lots and they'll be addressed separately, but we will see you Hi Thank you for coming here I have two questions one with a new plan. Have you secured financing and number two Why are you going to start in August instead of in the spring as soon as you can when the It's more typical time because we're so anxious to get this going Listen, we'd love to start in the spring But it's going to take at least six more months to get through the the entitlement process through both the city process and the state There's a state-level permit process that needs to be achieved before we can physically break ground so that's that is the the driver of the Schedule right now and As far as financing all avenues are being explored right now including opportunities own funds and You know every kind of financing is being explored right now, so it's still being explored It's not solid and it's still Bank of Ozarks is your number one They they are still very interested. Yes. Thanks very much Two questions one Can you give us the time frame for when we can see work start and work finish? Yeah, so as I said, you know, we're currently engaged in a permitting process And this is also still a preliminary schematic design And so the architects have some work to do to turn this into you know documents that can be built from Our our goal if everything goes smoothly and nothing gets in the way is that we'd be under construction Hopefully by early fall August September somewhere in that time frame We think it is a 27 to 30 month kind of construction process probably Which would put occupant completion and occupancy out towards the end of 2022 or the very early part of 2023 Thanks, I hope the city will be able to tell us what the financial impact of that is the other question that I have is that One of the selling points of this was that it's going to generate 750 new office jobs And they were going that's that that was a net figure So no relocations of people that have been moved out of this area Can you tell us what the situation is you haven't talked about offices at all? and who is on whose Neck is on the block for the 750 jobs Well, you know as we have mentioned there is and it is a separate project and there will be you know public meetings about that project as Well, we just wanted to focus this one on the city place piece but part of the But our office is out of the equation for both both projects the intention is that the Macy's building will be redeveloped for office use But you don't have any time frame for that yet Ideally, it's on a similar time frame as I said there will be public opportunities to review that project as well in the near future and our our hope would be that You know, we'd be starting construction on that at a similar point in time We do need some some commitment of office space to do that, but we're actively engaged in that process All right, I guess Thank you Hi, I'm glad you're here. I think everyone is so as A city councillor who didn't support the original plan because of the height and massing I Think this is more compatible with who we are in Burlington I Think that the delays for development and the reason why it's more compatible. I'm not happy with what's happened But I am I am more satisfied and I think others have said that too in the community with Where we are at this juncture My quite I like the materials. I think that I need to understand that better when this when this process began This room was crowded with people with lots of hopes and dreams about what this would do for Burlington and the designs were interesting The bays were actually real bays and not just this inserts of bays To reduce the massing and to make it as I said more interesting So I am a little disappointed in the streamlining of some of the design I was happy to hear about green roofs and because that the second Set of stories is set back I didn't know one plan had described potentially putting some small vegetation on the group on the roof And I don't know whether that's still a possibility I know in in other states in the south in Texas They use trees to absorb some of the heat that comes from just this mass of construction And so I'm still interested in seeing if that can be if that can happen What I also wanted to ask about was that it people are referencing now what happened to the commercial space so this was sold as retail housing and commercial and And right now you're saying that the office space is now going to be in the Macy's building Which wasn't part of the project at the time But there was a strong component of that commercial space that had to do with the University of Vermont Medical Center employees Who had been located downtown who were displayed or have moved out coming back to downtown This community really wants people to live and work And and remain in Burlington and reduce the transportation issues that currently occur so The silence about the Medical Center being part of this project even though I understand that's a separate project is Is problematic to me and I would really like to understand that The other piece is the reduction in retail I Know that Retail is handled differently But we had an original square footage of retail in the old mall. That was I don't know It was far greater than the 90-some-odd thousand that was then proposed and now that's been cut in half again We've lost we've lost really significant retail because I don't think this project was was potentially Handled in in the best way William Sonoma we lost and Taylor we lost pottery barn. Those are those are names that brought people to Burlington They're not so much affordable, but they're gone and we're not the kind of community that can snap them get catch them back So I'm just wondering You know, what does this do to our retail? What does this do to bringing people downtown people come down to Burlington for the Flynn and to eat? But I think we want more than that So I know I've asked a lot in the statement because it's a statement and a series of questions But I think the public and the community as a whole and surrounding people want to understand What will there be here to draw people from outside in and what will there be here for the community members who once? Did business in Burlington that were displaced All right So with respect to the first part of your commentary in the University of Montt Medical Center We we have been engaged since last fall in conversations with them about Essentially moving that use from the office tower that's no longer part of this project To what we're planning at the Macy's project those conversations are ongoing, you know and that you know, they would it would be our hope that that That process would simply continue and we'd be bringing them downtown into the Macy's building We don't have a you know, we had assigned lease in the old building We don't yet have one in the new one, but we are engaged in the discussions and everybody is focused on Trying to make that happen. So You know, I think with respect to the retail I understand your perspective You know, this is not this is not a mall building This is street level retail second story street level retail is tough, you know It is not accessible off the street the way, you know, most of us like to walk in and out of doors all the time Obviously to kind of accommodate it a two-story Retail element, but even those are sort of fewer and far between So we've been trying to balance the calls for housing the calls for retail and You know that need to make sure that this is a project that Isn't so big that it is as we found last summer sort of too expensive to be able to build And you know, we're trying to balance that we do we haven't yet put together a firm Sort of marketing program on the retail space here yet But essentially all three streets include four streets including a portion of new pine are Aligned with retail and our goal is to make sure that those are vibrant and active and our retailers that Support the vitality of Burlington. I think that you know, I Mentioned top-end retail, but if we're gonna have all these people living downtown, you know the loss of Old Navy The more affordable components The fact that Target went to South Burlington was like someone stabbed me in the heart I wanted Target here for as long as it the late 1990s when my daughter went to college down south and so I The affordability component needs to be part of that also and I'm hoping that there will be a good mix I mean, I hope that that you are contacts can attract some named Places so people can go if they want to look at high-end If they want to actually see things in a store as opposed to going online. Thank you I mean, we do recognize we've got you know more than 300 residential units here including a number of affordable and a Portion of the retail program will certainly want to be Services to support, you know that density of local occupants So it'll it'll be a balance between that and the sort of retail that you're speaking of That is attractive to a broader You know audience and I'd also mentioned that we think that the you know the hotel will bring people into town the hotel has Currently planned for two restaurants one at the lower level and one up on the roof You know adjacent to the publicly accessible Observation deck and so we think that will help bring sort of vitality to You know this piece of Burlington particularly this piece of Bank Street, which is a sort of a little left behind at the moment so Can one of the people just make a reference about what you do what you mean by green roofs so that I understand what that means Thanks Sharon Kevin Warden engineering Ventures civil engineer and Ten percent of the roof will be a green roof and that is something we're seeing more and more of Champlain College has a green roof There's summit UVMMC University of Vermont etc. And they are basically above the roof system trays that have A thin amount of soil and some sort of sedum or other type of vegetation that both hold the rainwater Vapo-transpirated and then maybe release it slowly And can survive periods in between rainstorms without irrigation so it is a it is a tricky balance but you know, it's a pretty established technology at this point and Ten percent of this roof will be a green roof Yep. Hi Carolyn Bates From Caroline Street I've been here way before the mall and way before all the house well some of the houses have been torn down But all the buildings hadn't been burned I wanted to know a couple of things One isn't there supposed to be a component of artist's work Wasn't it about a half a million dollars of artist's work that was supposed to be in this space? And also I think 10% of a green roof only 10% of the roof green is total folly Chicago is putting Green roofs over their entire roofs. Why aren't we doing that too? It would also be very nice if we could have access to those green roofs and let you grow plants that we can eat instead of Just seed them which we can't What was the first question? I'm sorry. I I'm saying is that I thought this building had some Component for art and that there been a half a million dollars at least Offered for that. Yeah, and that that hasn't changed We may have neglected mentioning that but you know all of those sorts of commitments that have been part of the project Since the beginning we absolutely stand behind and you know, so, you know, that's still part of the goals and objectives You know on the on the green roof piece, you know, there's another portion of the roof that's going to be devoted to photovoltaic You know panels You know we intend for this building to generate some of its own electricity. What percentage of the roof for solar Well, I'm just asking that you cover the whole roof with green and solar and not have just blank spaces And I hope you won't put great big ugly things on top of the rough Like some of the present buildings have that almost are two stories above the actual rough All right, we'll take that comment certainly into consideration. Thank you Hi there I am Anne Taylor been here 50 years Yeah, came to the University of Vermont and Anne To go to med school and be on the ski team. So anyways, I am a physical therapist now I did come to at least a hundred City Council meetings, okay, and I was in support of all the work that Don Cinex did and I'm happy to hear that you are going to follow what our City of Burlington people spend a lot of time making sure of and just like She just said 10% is not enough. You got to get we have the Rubenstein School of Environmental science we are wicked green people in Vermont This is a hippie state and we are wicked political in Burlington, Vermont and We lost on Cinex because of asbestos and the coalition for a livable city and its Lawsuits it was way too much so good you Brookfield are the top commercial developer in the world So what is all this baloney about? Oh, we're only doing 10% Greenery because we have to protect Lake Champlain. It's a mess So you have to catch all that water and you have to clean it like incredibly clean Because you're so close to the lake and that is one of the huge requirements of our city and For those of you who oppose business in Burlington, Vermont We have lost so much business because there's too much opposition to business and as Oh I'm old now and on too much chemicals for stage four breast cancer He was the one who built the mall one of the most serious he owned McAuliffe's Pat Robbins. He apologized to everybody. I am so sorry Because I took away Pine Street and St. Paul Street. So you guys are giving that back to the city I'm sorry. I was not here in the beginning and so I missed lots, but May and I'm also about accountability for housing. So we're getting full Affordable housing right which is not for poor people is for people who have jobs and can afford that You know, so I'm very in support of that. So let's be recognized Just make sure because we work so hard the development board the city council This is a big deal and you guys build things all over the world. So Pay attention. Don't mess up what we all worked hard for all right case you guys have money and you're cool So be wicked cool. All right, so The environment do more can you do more than? Let me let me tell you a little bit about the stormwater because I do think we didn't dedicate nearly enough time in the presentation on stormwater Which is what I'm interested in the project's gonna treat all water coming off the site To the state standards and that's being done and this is all in addition to the Green Roof in three Storage tanks and sand filters that are below grade so it's an incredibly high rate and Level of management for stormwater some of which actually some of which now flows to the combined system Some of which flows to the College Street watershed, which goes directly to the lake It will now all be treated and attenuated which just means slowing it down Before it's released to the College Street water. Yeah, so I think it's a great Thanks for bringing that up and it's it is definitely a great component of this project, which will have You know the largest kind of investment in that type of stormwater management in the city at this point And what is Don Sinek's doing now? Well, he worked really hard and spent 30 million dollars well as I'm and said, you know Brookfield and Devonwood are still partnered on this project. Good. So, you know, we're still together working on making sure it gets delivered Good because he worked very hard and so did the city and its citizens All right, let's get going August. What are you waiting till August for? You got a draw faster permits Let me give you some simple ones that keep the momentum going here to on access one on politics slash cost on the North on Pine Street coming north. There's got to be a jog to go around 100 bank How are you going to handle that with a bank on the corner? Second one is the access to the public space on the hotel. Does that mean through the hotel? The third one is to what extent do the tariffs that we've had Affect this economics of this program a lot or a little I'll just let everyone know up front that there is a line forming in the back. So just be aware of that, please the Maybe we could circle back to one of the street views, but basically Pine Street The design of that remains largely unchanged. There are a few tweaks But it will continue under if you remember you would walk under 100 bank into the old Mall where the escalators were That you can see down on the far right hand corner. It doesn't really jog It continues right under that area where it is. So it's not the access drive to the garage, which remains That'll be filled in for sidewalk It's to the west of that or to the left of that as you're facing 100 Yeah, so so I think you question about the bank property so there's discussions between the city and the bank Very to be able to make that access off of the intersection of Pine and Bank Street And then at the top it doesn't align with the extension of Pine Street but we're working closely with the city to angle it just a little bit to provide that alignment and Then on St. Paul At the bottom we've been able to work with the city to angle the southern half of the new St. Paul to align With St. Paul there and at the north end With the transit center it's reverse circulation anyway, so the new St. Paul will align with one of the transit center road segments So I think the second question was public access So the the south building has all that retail street frontage There will be the lobby Which is a joint lobby for public and hotel access both into the building south building To the elevator course and into parking So it's almost like a walk-through and then you can get on any elevator go right up to the Observation deck and you want to take the tariff question Yeah, I mean tariffs the tariffs are having an impact on material pricing They are kind of material at this point, but they are things we can work around I have a question regarding district heating There's been a lot of discussion about trying to capitalize on the waste heat from the McNeil wood chip plant and So I wanted to see what the status of that was from your end if there are things obviously that system hasn't been built out yet But what accommodations the project's making if and when that Were to happen so that you could capitalize on that and if you just update us on where we would stand with district heating sure it's like the previous project we'll have a room and Conduit to accept it once you get the infrastructure gets in place. So we are preparing for it for the future and The building is still part of the 2030 energy district of Burlington. So we're still pursuing all those avenues Good afternoon Thanks so much for being here. I think it's probably safe to say that there isn't one person in this community that hasn't been wondering and waiting to hear from you for quite some time and I just wanted to mention a couple of things. The first is that for those who have been here for Since the inception of when this first began, which was about five years ago And for those who haven't this project has been a series of euphoric beginnings Continued work then a stop then a start then another stop and I think what has made this project difficult for many people is that when there is a stop there tends to be no communication at all and Sometimes it's best to simply say that you're working on something rather than saying nothing because when you say nothing people will fill in the blanks and I think it would be good, you know, you're here today and we're grateful that you're here today Today is the end of January. You're talking about potentially a start in August there may be roadblocks that come up between now and August and I would just simply ask that This not be another start followed by a stop that if there is a problem and there's a roadblock They could you that you communicate that and not leave us hanging I'm the the other comment that I have is that, you know there's been a lot of talk in the media and Certainly in other places about pending lawsuits either those that you've initiated or those that others have initiated I would simply ask that in the interest of moving forward that all of you come together and figure it out So that we can start moving on this together I know that that means that nobody's going to get everything that they want But we need to start moving forward And I think you want that too the The questions that I have are to one is that when you came to a city council meeting a couple of months ago You said that you had a term sheet now what I hear you saying and correct me if I'm wrong is that Bank of Bank of the Ozarks is very interested in the project Does very interested in the project mean that you have a term sheet with them Or does it mean that you that term sheet has expired and has not been renewed and you're still working on it so you haven't solidified completely the financing for the project and then the other is that since you're going down to 10 stories have you Amended or done anything with a shade study so that we have an idea of where that will fall in terms of the project So that you know on a day like today when it's sunny even though it's 20 degrees out It's possible to be outside comfortably if you're in the Sun if there is a large large area that is basically in the shade I think I think there are people that would like to know that so again. Thank you so much for being here and We're all looking forward to you moving forward. Thanks Yeah, I'll let Jesse take the shade question the the financing question It is that term sheet with Bank of the Ozarks was for a different project. It was for a much larger project So as the as the project has evolved as the budget evolves that Those those terms and those amounts change. So we are working on Updating it to the to the new project Okay, as far as the the shade is concerned Yeah, we're working towards a full application for planning and zoning and we'll have the shade analysis and shade studies as part of that Submittal we've also started looking at a preliminary to place the green roofs in the right locations on the roofs and look at the PV orientation so Okay, and then the other thing I I should have actually worded it in terms of a question and not comment when it comes to Communication do we have your word going forward that you will be in constant communication with the community and when I say constant? I mean on a monthly basis that you will You will keep us updated Yes, we will keep you updated. Okay. Thank you Thank you for the presentation and all the thought that went into Revising this project. It seems to be a really good fit for our community and I'm excited to see it come to fruition The one question that I have is out of the 357 housing units. Will any of those be for sale or are they all rentals? They're all rentals at this time. Hi there. I have a couple of quick questions. What direction does the restaurant face? Primary orientation is south and southwest. Okay What are the city's penalties or incentives for delays or failure to deliver? Was it just I mean if let's say that we're still planning two years from now Is there maybe you can't speak for the city, but what keeps you guys on task? Well, yeah, the wanting wanting to get a project Completed and as well as there will be an amended development agreement with the city that will lay out time frames Okay, so as of now, it's just sort of open-ended not really any Real penalties other than the loss on your side, correct And that and that's pretty typical of a development project of this size and there will be a development agreement executed with the city Sometimes I've also been made aware from local media. You can correct me if I'm wrong, but Brookfield also does or will control the Winooski branch the extension of rail from Burlington to Essex which could ultimately open up train service from New York to Montreal through Burlington it seems like Brookfield really has a huge stake in the future of Burlington almost controlling it to a certain extent Does that affect your thinking at all? I know a lot of the public has been struggling with how to handle the return of rail service to Burlington Presently stopping in Burlington and overnighting in Burlington That could be changed if that Winooski branch were open Allowing the trains to overnight in St. Albans and also continue on to Montreal Does that interest you guys at all if that could bring millions of more people to through Burlington? Yeah, our our infrastructure group runs the railroad investment and This team here does not have anything to do with with the railroad and we'll make that clear We do not know what their their plans are At this time. Okay. Thank you I'm just wondering what the size of the apartments are going to be are they going to be for single people or families or couples What the range is sure? We have both studios one bedrooms and two bedrooms The average size of the studios is 550 The one bedrooms is 820 and the two bedrooms are 1150. Thanks Square feet What will the rentals look like the cost I got sent back You know the the on the affordable side Those are those rates are essentially set by the city through formula Are there affordable ones going to also be a range of studio one bedroom to a bedroom? Yes and the on the on the market rate side I Don't have I don't have gross numbers I don't have you know dollars per month numbers in front of me for you But we've we've looked hard at what the market is both in the city and in the surrounding areas and we're very much consistent with With what that range is Hello, my name is Rick Sharp my wife and I own Burlington segues Which is highly dependent upon tourists of course So we're very happy to see another hotel downtown I think it's great that Burlington went from one hotel for the last 40 years to this will be number five Number six may be over at the Bose property and number seven over at the old Y So that's a lot of hotel rooms downtown. I think that's great for downtown Burlington for shopping for Restaurants for the vitality of the downtown. So I'm looking forward to your hotel And I compliment you on bringing that into the project. Mr. Sinex did not he ruled that out because of comments So I think it's a good thing I don't I saw that that the face of the building looked to be a white Structure, I don't know exactly what you're using for the facing but I am highly I really like Vermont marble and I would hope that you would consider a Surface of Vermont marble that would be very appropriate for the largest city of the state of Vermont So if you're gonna make it a light color like that, please consider Vermont marble The final thing that I'd like to say is communication wise. I agree with Karen Paul that The lack of communication has been a real problem here. I think everybody in this room wants this to succeed We do not want the whole tent the big hole that has been in the downtown for the last year and a half Everyone is concerned about that Everyone wants closer communication with you. I feel a little bit tension between the audience here and you at this time I'm hoping that you can get over that tension by earning our trust and the way that you earn our trust is to communicate with us Okay, then I think that your permitting process will go much easier as well. Okay, that means Telling us what you're doing weekly basis if you have to do it Mr. Sinex actually took out ads in the paper to keep people up to what to up to date to what was going on Okay, one of the things I would have suggested here today is I've been to a lot of meetings Where we talk about things like this? There's usually a handout that shows you what the buildings are gonna look like what the front's gonna look like how you're gonna go underneath there It's great to see it on the screen But I would suggest that part of the communication process is to think about the people that you're servicing here They're very involved. That's why they're here at noon. Okay, you can you need to give them more Information which means handing something out so we can actually see what you're talking about rather than what's up on the screen So I hope that you can do better with your communication in the future And I hope you stay close in touch with this community. It'll make everything go better It'll make us feel a lot better It'll make our business do a lot better because you'll get your construction going quicker. Thank you Thank you. We appreciate your input and councillor Paul also yours and you know I think we've heard that message and so you'll be hearing more from us Thank you for showing up and trying to communicate with all of us Some of you know me some of you don't I was here during urban removal I watched your area go down the wayside. Okay, so now we have a big hole Barry has a big hole the number one biggest hole in Vermont the quarry Newport City Vermont has a big hole number two biggest hole in Vermont And now the Queen City has number three biggest hole I want something in that hole and waiting till August. Come on The other thing I want to know about is You increase the housing in order to get affordable housing. I Haven't issue with that. Okay. First of all the definition of affordable housing You know, come on. I Live on $1200 a month and I'm I own a home and I'm barely making it I work in a business a small business on Cherry Street for 45 years Okay, you got to think about this now the people you want to put in these buildings Have to really be able to afford what's going on downtown And if you're gonna think about clearly where you want to put those affordable units Give them a view of the sunset. Give them a view of the sunrise. Okay, let's not be stingy on where you're gonna put the affordable housing units Thank you Thank you. I mean, I I think it's it's You know, it's fair to say we increased the amount of residential not because we wanted to get more affordable that obviously is a Is a positive side benefit, but the goal was we heard a call from or residential downtown in general and so that was the that was the focus on that and You know, as I said our goal is to mix the units up and You know, we want this to be a very lively and successful project for everyone who's there. So I Also forgot to mention one thing the shutouts of the balcony Could you could you cons? Consider what the Richards in place has with their nice wrought iron balconies That just looks like a high-end elevator. I am so terribly excited about you doing what you're doing. Thank you so much It's about time that we had something happening there and you sound like it It sounds like you guys are really into Making it happen and making it happen. Well, thank you Now the thing that I would like to see happen is on top of the building if we had a green space a big green space Like a lot of buildings and a lot of cities have Because we cut so many trees down in Burlington It would be nice to have a place to go to where we're helping the environment as well as giving people a place to go and I like the idea of the observatory the Platform, but let's make it big and let's make it welcoming Let's make it a place that tourists want to come to the top of the whatever you're gonna call it like the top of the mark and I'm very excited about being able to see in every direction this is a million dollar view we have here and You can really excite the world To come here and and enjoy it and I'm so happy you're doing that. Thank you Thank you Anyone else? Hi, most of my questions were already addressed, but I did have one how many Move in move out residential loading base for the move in move out of the residences are there You're asking about load in load out. Yeah move in and move out I lived in a in a condominium in what Washington DC Which I will show you pictures of later and the other guys had them But didn't seem to find them in for interesting and there was quite a few loading base from people to move in and out And it was very restrictive how to get in and out with with that many residences 300 and some I'm just curious how many Loading bays you have for move in move out for residential purposes in this project. We've actually added a separate loading dock for the residential North building so it has its own dedicated Loading dock and at the same time there's access to the other loading dock to the south side So so there's so we've added a loading dock So there's a total of two for the 374. Yes, but they handle more than one truck So yeah, well, that's what I mean. So they actually what I meant the bays So so there's four in each loading area or something like that to an each to an each So there's a total of four. Okay, that was that that was the question and then the other question I had that was sort of asked about the district heating You said you were building a room in the basement to do that. How does that work with the actual apartments? Is this are you using a boiler system? So they would have hot water heat? I'm just I'm just curious about how you would actually Implement the the the fixtures of for heat in the bill in the apartments and the rest of the building When you're you know anticipating using the district heating in the future It will change over the infrastructure So the infrastructure will be set up to each of those units so they can be changed over to use the district heat So it would be baseboard hot water boiler type of a heating or heat pumps is the direction We're going in okay, so they each would have heat pumps initially in the units separately They would okay, so they wouldn't be part of a system Wide heating. Okay. Thanks. I just kind of wonder in your nice green space that you're talking about If you're planning on putting a lot of cell towers up there, too. I think those are on a hundred bank Yeah, well, they're kind of everywhere. They're going up on our building now where I'm living So I'm just kind of wondering, you know, that's not cool. Thanks Hey, all nice to see you Thanks You're probably trying to suss out at some level How real we are we were very combative with some of the aspects of the previous incarnation of this product I Tried to help as best I could I helped Don Cinex work the buttons when he couldn't do his presentation out in the New North End, so I think there's a case to be made that we are in Support of development and I hope that we can also underline for you that you have a real opportunity here Not only to rejuvenate a city, but also rejuvenate an entire state an entire population that is under duress And they're really nice people one thing about Vermonters is we're willing to make sacrifices Economic sacrifices we could be in Dallas right now making making more money But we're here we make sacrifices on a daily basis in terms of our labor in terms of our values In order to lead the way in the united states with Vision of a society we want to see you can help with that So if you're trying to suss out What do these people are about are they for real do they want us here? Yes, we want you here We know you have your act together. I've looked under the hood of your organization You guys have the money you have the acumen and you have the connections to make it happen What everybody in this room wants to know from you right now because we've been down this road with the Pied Piper He may not have known that he was the Pied Piper, but we tried to warn people Are you for real? Yeah, we wouldn't be sitting here right now if we weren't for real We we've you know, we appreciate what the city has been through in the last year and a half and Um, we absolutely do do take you for real. This is an incredibly vibrant city You've got an extremely engaged population and we appreciate that because these these projects are are our Public engagement is is important and and your input is important to us So we would not be here If we weren't for real And thank you I'm sorry. I um I hadn't actually planned to come up, but one thing that with the last couple of questions in your comments I am interested in knowing about is you know, I'm sure that this is will be a it's a business You know Contract for you and your firm will benefit from that financially But I wonder what you're seeing you're going to get out of this project in terms of Just your profile your uh your desires as developers. What do you see that's in it for you? um I think what what this project? Represents and and it's something that we're working on all across the country We recently acquired a a company that owned 150 shopping malls across this country and What this what this project kind of represents in in one city block is the thesis for Retail space and retail real estate for for everywhere in the country is is mixed use downtown Vibrant developments where these malls and and your mall was the same your mall was The center of commerce for a long time In downtown and and what we want to do is try to bring that back And that's what we're studying kind of all across the country. So what this is is kind of a a poster child for For mixed use development and and kind of retail Reinvention So that's you know That's what you get and what you have here organically I've told us a lot to a lot of people what you guys have here Organically and what you've built on church street over the last 50 years Is incredible and and there's lots of cities around the country that would That are trying actively to create what you guys have created Sometimes successfully sometimes not So what we want to do is just try to try to enhance what you've already got I just um I've watched a lot of housing happen in burlington over the last few years and all of it is studios one bedrooms and two bedrooms And we're in a state that's worrying about Families and kids growing up and staying here. I'm concerned that um, there's no family housing really in this In this development and you know, we have schools We have to support and things like that and we'd like to have people stay and maybe spend a lot of time So, um, so if you have a son and a daughter Good chances you can't stay in a place like this and also Any long-term plans where people could actually own their units and be that more tied to the community and Stay here for a long time and not just to have the the rent go out out of state and things like that So I'd like that to be wrapped in somehow or some thoughts around that right, um and One of the benefits of a Kind of a large rental pool like this Are it's going to free up a number of single family houses around around the city for for young families to move into They may not be moving into our building, but You know older people that don't necessarily want the upkeep of a of a single family home and Shoveling snow and sweeping the sidewalk can move into this building freeing up that Single family house for a family and that that's kind of the ripple effect that we see Yeah, so, uh, thank you guys for coming out. We'll be here. We'll be back here right in these chairs at seven o'clock