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Item 9B (3)P iV10 V DEVELOPMENT STRATEGISTS CITY Or BOUT H LA 1E REQUEST FOR QUALIFICATIONS FOR RETAIL MARKET ANALYSIS SERVICES: City of Southlake, Texas MXD13-053 MXD DEVELOPMENT STRATEGISTS Submitted December 131h, 2013 MXD Development Strategists Ltd Suite 200 — 11120 Horseshoe Way Vancouver, BC V7A 5H7 +1-604-272-6937 q` /r1 i N. 1,?� L....j DEVELOPMENT STRATEGISTS Connecting a World of Opportunities ATTN: Ms. Alicia Richardson City Secretary City of Southlake 1400 Main Street, Suite 270 Southlake, Texas 76092 Re: City of Southlake Retail Market Study MXD Development Strategists Suite 200 - 11120 Horseshoe Way Riverside Place Vancouver, Richmond, B.C. Canada.V7A 5H7 Horseshoe Way 200 - 11120 Tel: +1-604-272-6937 Fax:: +1-604-272-6934 www.MXDdevelopmrnent.com December 13t", 2013 MXD 13-53 It is with pleasure that we furnish you with the MXD Development Strategists Ltd. ("MXD") submission of qualifications to provide the City of Southlake with consulting services to undertake a Retail Market Analysis. We thank you for the opportunity to submit this proposal, and very much look forward to assist you in performing this important and exciting assignment. Comprised of Retail Analysts, Real Estate Strategists, Urban Planners, and Land Economists, our Team is able to provide development and market expertise that enables us to meet the specialized needs of this project. Our Team is very familiar with performing Retail Market Analysis, and have extensive experience working with public and private clients throughout the United States, Canada, and internationally. MXD has previously performed commercial retail based consulting assignments in the Dallas -Fort Worth Metroplex area and has a solid understanding of the local current market conditions. Prior projects have allowed our team to visit the City of Southlake, and Southlake Town Square. This mixed -use development acts as a heart for the City, and a compelling destination for the region. Its strong mix of retail and food & beverage facilities connects the other components including the Town Hall, Library, Hilton hotel, and Theatre, creating a live/work/play/stay environment. The MXD Team attended and had an exhibition booth at the recent Aerotropolis Americas conference hosted at DFW International Airport at the end of October 2013. MXD's President & CEO, Chris LeTourneur spoke at the event regarding the economic impacts that the airport, Airport City, and Aerotropolis have on the region and methods that have been used to successfully communicate those benefits. Understanding the close proximity of the City of Southlake to DFW, we realize there are exceptional commercial opportunities to consider from an economic and retail perspective for the City. Chris has also consulted on the commercial strategy for various projects throughout Texas such as Watters Creek at Montgomery Farm in Allen, Texas, and Market Street at the Woodlands north of Houston, both for Trademark Property Company. 0 M0X DEVELOPMENT STRATEGISTS MXD has continued to assist our Public Sector Municipal Clients to think like the Private Sector in their Retail and Mixed -use commercial analysis projects, in cities such as West Valley, Utah; Duluth, Minnesota; and Coconut Creek, Florida. MXD's Senior Team Members have been involved extensively on a number of major Urban Retail and Mixed -Use projects across North America and internationally, including: 4 Downtown Phoenix -> Toledo, Ohio 4 Reno, Nevada .� Houston, Texas -i Petaluma, California 4 City of Oxnard, California 4 St. Paul, Minnesota 3 Duluth, Minnesota * Lacey, Washington * Sacramento, California 4 Denver, Colorado 4 Fort Collins, Colorado 4 Montreal, Quebec San Francisco, California San Francisco, California 4 Seattle, Washington 4 West Valley City, Utah 4 Salt Lake City, Utah -3 City of Holladay, Utah 4 Draper, Utah 4 Ogden, Utah 4 Downtown Ogden, Utah Victoria, BC Whistler, BC Market Analysis and Nodal Development Strategy for Copper Square Urban Mixed -Use Waterfront Redevelopment Area City Center Redevelopment Area Strategy West 8 Mixed -Use Redevelopment Land Use Analysis for Urban Core Retail Market Analysis & Positioning Strategy Mixed -Use Downtown Waterfront Market Study Urban Infill Corridor Study Suburban Town Center/T.O.D. Market Study Sacramento Railyard Lands Mixed -Use Development Riverfront Park Development Strategy, LODO Urban Mixed -Use Redevelopment Quartier Viger Urban Redevelopment Area Candlestick Park, Sports -Oriented Mixed -Use Dev. Strategy Treasure Island Mixed -Use Development Strategy Urban Ferry Terminal Redevelopment Strategy City Center Redevelopment Area Strategy Main Street Market Analysis & Enhancement Study Market Study and Master Plan Point West Urban Redevelopment Project Downtown Structure Study Wall Avenue Corridor Study Uptown Mall Redevelopment & Intensification Strategy Sustainable Retail Strategy & Nodal Positioning Strategy Southlake Texas Retail Analysis MXD13-53 Page 2 December 13th, 2013 } r M %� L1 DEVELOPMENT STRATEGISTS } In addition to the many retail market analysis projects our firm has performed in the United States over the past several years, MXD completed a Commercial Development Study for the City of Saskatoon, Saskatchewan that studied the demand, absorption, build -out potential, and allocation of commercial retail opportunities in the City over a 25-year period. This study and strategy helped establish the recommended Retail and Commercial Land -use designations moving into this forecast horizon. The Retail Market Study proposed by the City of Southlake has many similarities in its goals, and we are confident that our firm will be able to assist your Team in meeting these objectives. } Should you have any questions regarding our proposal, our qualifications, or any other items, please do not hesitate to contact us either by e-mail at chrisPMXDdevelopment.com or 1 andrew@mxddevelopment.com or by mobile phone at +1-604-644-4139 (Chris), +1-778-929-4440 (Andrew), or by office telephone at +1-604-272-6937. We also invite you to explore our web site www.mxddevelopment.com, which provides a profile of our capabilities, approach and experience. Sincerely, MXD DEVELOPMENT STRATEGISTS LTD Chris LeTourneur President & Chief Executive Officer J Andrew Fayn Planning Strategist Southlake Texas Retail Analysis MXD13-53 Page 3 December 13;h, 2013 M V l DEVELOPMENT STRATEGISTS 1 PROJECT UNDERSTANDING 1 The City of Southlake, Texas is seeking consulting services to perform a Retail Market Analysis, whereby the purpose will be to evaluate the existing, near, and long term capacity of Retail business that the City can support. The City of Southlake, as illustrated on the map below, has several key attributes that can impact spending habits and shopping preferences. Southlake's average household income is $206,454, which is the highest per -capita income for cities over a population of 20,000 in the U.S., and 64% of the residents 25 years and older have a Bachelor's Degree. The City has a well-educated and highly affluent residency, signifying that the Retail supply must be responsive to the specific demands and desires of the population base. Additionally, Southlake is approximately 10 minutes from DFW International Airport, which assists in its desirability as a location for business. There are a series of goals for this project such as examining various performance indicators of the Retail market, including assessing the current retail inventory and the estimated revenues per square foot for various retail categories. In addition to this task, it is important to recognize not only the total square footage of Retail space in the City, but also to understand the types of commercial formats that are present and those that are under -represented in the City. It is also necessary to understand the types of tenants and businesses that are currently in the market, what are the voids, and evaluate how the market could change in the future, including re -capturing any sales leakage. Additional goals of the Retail Market Analysis include understanding the viability and sustainability of Retail recommendations set out within existing City planning documents, understanding the trade area, determining retail supply and demand, required absorption, the general retail mix, and strategizing where new Retail development should occur in the City. This includes how this retail activity will relate to and be a catalyst for other mixed -use and multi -use development and redevelopment of community nodes for business, living, and recreation. Southlake Texas Retail Analysis MXD13-53 Page 4 December 13th, 2013 `/M.A* !�-UNN6 DEVELOPMENT STRATEGISTS Investigating the future Retail market in Southlake will place consideration towards population growth and build -out projections, understanding historical sales and trends, and assessing demographic changes occurring in the City and trade area. Additional sources of Retail spending must also be taken into consideration such as daytime employment, tourism, and destination day-trippers. The impacts of changes within the traditional Retail industry are of growing importance for all communities. MXD recently completed a study for the non-profit Sonoran Institute based out of Colorado that analyzes trends and shifts in consumer preferences throughout North America, and how such changes are having an impact on traditional Retail businesses. Taking these trends into consideration is an important part of community planning to ensure the long-term success of Retail in the area. An outcome of the above analysis will be to produce a series of recommendations for the City of Southlake on how to integrate new Retail offerings in a sustainable and viable manner, while at the same time supporting and enhancing viable existing retail facilities. This will include analyzing the total amount, types of formats and tenants that should be targeted, and the phasing strategy to best support long-term Retail success in Southlake. The MXD process will look to assess, identify and define the optimal market -driven land uses for commercial Retail functions, places and projects, and provide the necessary input as to where and how these uses should best be located in the City of Southlake. Our study will make suggestions, where applicable, on how Southlake can position itself for long-term Retail strength, and address anticipated changes within the City, such as employment and population growth, as well as National trends related } to changing shopping preferences and tastes. These recommendations will be strategic, in order to serve Southlake residents needs while also attracting inflow of retail sales from outside Southlake, thereby establishing a sustainable and growing base for Southlake. Southlake Texas Retail Analysis MXD13-53 Page 5 December 131h, 2013 n Aw i�r_lwmmww M"n DEVELOPMENT STRATEGISTS MXD COMPANY INTRODUCTION & PROFILE MXD Development Strategists Ltd is a full service commercial development consulting firm with its head ,i office located in Vancouver, Canada, specializing in the master planning and development of a variety of f 3 mixed -use and Retail projects. The MXD Team is made up of a dynamic group of Development Strategists, Retail Experts, Land Economists, Urban Planners and Real Estate Experts providing a balance of knowledge, skills and vision shaped by extensive experience and exposure to the latest commercial development trends throughout the world. MXD's Team of Market & Financial Analysts and Development Strategists are well -positioned to assess the development opportunity, identify optimal development program and define the layout strategy. MXD determines the highest and best use of the site and then works with designers to create seamless three- dimensional places that achieve harmony between each project component. Over the years, MXD's Senior Team Members, Chris LeTourneur and Martin Anstey have worked collaboratively with many of the world's leading architect and design firms. Their respective resumes can be found in Appendix B. In addition to Chris, Martin additional support team for this project would be provided by our in-house staff of consultants and researchers, including Andrew Fayn, Shawn Williams, David Nanton, and David Godin, all of whom bring experience in commercial real estate development. MXD Team members would bring a diverse set of experiences and expertise to the project that reflects its unique site attributes. These include: MXD balances local cultural uniqueness with global trends and innovations to define real estate development. Our Retail Market Analysis approach triangulates various perspectives including Case Studies, Retail Development Trends, Tenant Activity & Requirements, Competitive Positioning, Trade Area & Expenditure Analysis and Financial Feasibility to assess, identify and define Retail Development Strategies. Southlake Texas Retail Analysis M X D13-53 Page 6 December 13th. 2013 „P4MXV DEVELOPMENT STRATEGISTS 3 MXD'S APPROACH TO FORWARD THINKING MARKET -DRIVEN PLANNING Retail developments within mixed -use environments must be able to answer these key questions in order to be sustainable, realize positive financial returns and create enhanced community value: } 4 Who will be the Audience for the development? 4 What is the Optimal Development Positioning & Tenant Mix to appeal to this Audience? 4 Which Activities, Amenities, Attractions, etc. appeal to this Audience? a What is the best way to reach these audiences through Tenant Mix & Marketing Efforts? How will the development Generate Real Estate Value, attract people, stimulate sales, achieve respectable rental rates and justify capitalized values? What opportunities exist for Multi -Purpose, Pedestrian -Friendly & Socially -Energized Development Cores & Clusters to introduce functions that will create Place Value, Community Value and Social Value to gather and encourage repeat visits? Determining who the Target Audiences are constitutes the first stage in marketing Retail real estate. The second stage involves integrating development trends into the mixed -use plan to create a three- dimensional "place” that embodies the Target Audience wants and needs in an immersive setting. Important considerations in this process include Development Trends that are driving today's Retail industry. The emerging concepts and design trends need to be incorporated into the Market Analysis. Southlake Texas Retail Analysis MXD13-53 Page 7 December 13th, 2013 I ` "Wo M..%�L� DEVELOPMENT STRATEGISTS FUTURE -PROOFING THE CITY FOR LONG TERM RETAIL SUCCESS The challenge and opportunity for the City of Southlake is to maintain and develop a sustainable retail base that will have the ability to evolve and adapt to the ever -changing nature of the audience. We call this "Future -Proofing". Based on our most recent project experience, some of the top trends we believe are affecting the next generation of commercial real estate development include: 4 Moving from "Super -Sized" to "Right -Sized". 3 Moving from "Consumption" to "Sustainability". 4 Moving from "Experience" to "Participation". 4 Moving from "Presentation" to "Communication". MXD Development Strategists' objective will be to identify these macro -to -micro trends and match them to the unique development opportunities found within the City. The Target Audiences would be identified, quantified and profiled in detail to generate greater insight into their demographic, discretionary spending and recreational profiles. This information will be synthesized into a Development Strategy that emphasizes: 4 Optimal mix and positioning for targeted demographic markets. i Market -driven retail development projections. -) To establish additional components that will assist retail growth in the City. 4 Determine the amount of sales tax revenue that could be generated through future development. The result would be to provide a "road map" for development prioritization and positioning. Armed with a deep understanding of how the retail market will serve the community, what its purpose is, how the audiences will be attracted, and how it will respond to major trends, the Development Strategy will provide the optimal product size, product mix, phasing, and market positioning. Southlake Texas Retail Analysis MX D 13.53 Page 8 December 13th, 2013 l i 1 l 1 0"IiVIXV DEVELOPMENT STRATEGISTS PROPOSED METHODOLOGY As a leading Development Strategy firm, MXD has successfully applied the following methodology to similar Market Analysis throughout North America and internationally. This approach has been used to identify optimal land use mixes and development programs to respond to market opportunities. Based upon a solid combination of market research, concept planning, design input and market/financial analysis, the resulting Development Strategy maximizes the project's ability to achieve success and create value. Our Methodology is illustrated below and described in detail in the Proposed Scope of Work. Southlake Texas Retail Analysis MXD13-53 Page 9 December 131h, 2013 M .i E"W441k DEVELOPMENT STRATEGISTS PROPOSED WORK PROGRAM Task A; Project Understanding and Background Anainis The objective of this Task is to establish a solid foundation of market research to inform the Retail Market Analysis as well as Identifying Trends in Commercial Real Estate. Our first priority would be to understand the Client vision, Regional Dynamics and City Overview that will inform Later stages of the study. Project Understanding & Policy Analysis Participate in a Kickoff Workshop with Project Team to discuss the project vision and timeline, to gather all related background information, and to understand the City's characteristics and potential issues that can impact commercial development. Interact with the Client to determine the implications and influence of existing adopted planning documents for the Commercial Retail Market. Interact with City Staff to understand the overall visions of the City. Document and assess the region's economic dynamics, population growth, employment change, patterns of community development as well as major economic initiatives in City and the surrounding area. As necessary, interview and reference local real estate professionals and government sources to gather background market intelligence. Identify the Policy Context and mechanisms that exist to guide Commercial land use in the City. Identify and analyze historical sales tax trends in Southlake. Review, document, and analyze pertinent Municipal Policy and Plan Areas, adopted planning documents, and growth strategies such as the Southlake 2030 Plan. Economic Overview & Case Studies Document National, State and Regional economic factors as forecast over the next decade to identify trends and opportunities. Identify major economic initiatives in the City as well as the Region's primary economic drivers, companies/employers and institutions. .1 Prepare Case Study Profiles of Retail and Commercial Mixed -Use Projects throughout North America, to illustrate Industry Trends and document Best Practices in commercial development that could be pursued in Southlake. Retail Commercial Trends 4 Document trends in the commercial real estate supply in the region. 4 Document emerging trends in commercial retail throughout North America. 3 Discuss "macro" to "micro" trends in commercial real estate and how "right -sizing" is becoming more prevalent after the global economic recession. Discuss how mixed -use developments have evolved into a popular and desired commercial format. Identify retailers that have been successfully locating within mixed -use developments over the past several years. Discuss how online retailing may impact future retail development in the City. Southlake Texas Retail Analysis MXD13-53 Page 10 December 13th, 2013 op M.,O0 V DEVELOPMENT STRATEGISTS Task B: Retail Market Analysis A Retail Market Analysis would combine a detailed study of competitive supply and market demand projections to identify the existing, near, and long term capacity of the City to support Retail businesses. Document current retail facilities in Southlake, and major competitive facilities in the DFW Region. Provide a summary of format and performance characteristics including occupancy, rental rates, anchor tenants and leasing activity. Calculate current square footage of Retail within the City of Southlake. Estimate revenues per square foot for various categories of Retail. Prepare a Retailer and Merchandise Category Void/Opportunity Matrix to distinguish retail offerings at various retail developments throughout Southlake. Identify retailers (new & existing) looking to expand in the local/regional market. Delineate a Retail Trade Area using an analysis of drive times, competitive retail locations and local area demographics. ' Analyze Trade Area's demographic profile, including population growth, income levels, and other data 1 affecting retail preferences. } Document the employee base in Southlake and identify new employment center projects in the j pipeline that could affect future Retail growth. Analyze Retail Trade Area's retail expenditure profile on each of the major forms of shopping, dining and entertainment. Analyze Visitor Trends & Profile (if applicable) for local and regional area, and quantify visitor retail expenditures. Assess Residual Retail Demand, based on an evaluation of current citywide retail inventory to warranted citywide retail inventory for current year to identify inventory surplus or lack thereof. 3- Prepare Warranted Retail Floorspace Allocation, with specific floorspace recommendations regarding the amount, mix and competitive positioning of Convenience Shopping, Comparison Shopping, Food & Beverage and Entertainment. } .3 Subdivide overall recommendation of floorspace through a Retail Capture Rate Analysis to test and } justify the recommended retail floorspace allocation based on specific merchandise categories. Divide the recommend retail program for each category into Anchors, Sub -Anchors and Inline Tenants. } Create a macro scale rent revenue model that will display estimated sales per square foot of future retail. 4 Apply the local sales tax rate to the total sales estimate from the rent revenue model to determine the potential retail tax revenue generated as the result of new retail. 4 Apply industry standard building FSRs (Floor Space Ratio) based on the applicable retail development formats to simultaneously project Retail building demand and how those buildings can be defined in terms of land demand in relation to where such development could/should occur. Southlake Texas Retail Analysis MXD13-63 Page 11 December 13«, 2013 Air MnV DEVELOPMENT STRATEGISTS Task C: Commercial Land Use Programming allocation The allocation of land is more than simply identifying and quantifying how much land is required, but also requires an examination of where the current amount of land is located and what parcel sizes are currently available. Often times there can be a disconnect whereby the amount of land forecast in a general sense is available to meet demand, however a deeper examination often reveals that if the land may be scattered and disproportionately allocated. Accordingly, this Task will identify how much and WHERE such additional } land should be allocated to most optimally accommodated tenant requirements and demand and opportunities. Summary Land Demand Profile of existing supply, forecasted new supply and demand (building sf and land acres/hectares). } r Identify the optimal land use allocation, amount, mix, phasing/absorption (over 20 to 25 years) and positioning of commercial land uses in the City, reflecting on the results of Tasks A & B. From the overall Retail Capture Rate Analysis (in Task B) allocate and position the optimal retail mix I throughout the city, by the specific Merchandise Categories and provide recommendations for their I competitive and complementary positioning and phasing. I - Identify potential locations for identified future retail floorspace through the use of a "Bubble I Diagrams". I Identify potential sites for redevelopment within 5outhlake that would be appropriate for future retail projects. This can include Grayfield sites, Brownfield sites, and historic revitalization projects. I Identify strategies to maximize the character, authenticity and destination appeal of each potential I location within the City, to attract local, regional and visitor market segments, as well as to complement neighboring communities. 1 Identify the optimal retail formats that are appropriate the retail allocations. Identify the target market audiences for the existing and anticipated new retail supply. Southlake Texas Retail Analysis MXD13-53 Page 12 December 13111, 2013 OPP M,0�� LJ DEVELOPMENT STRATEGISTS Task D: Summary Findings, Directions & Priorities Task D will establish a complementary positioning strategy to articulate how the Commercial Retail Development Study will support, balance and complement future growth areas and existing built up areas, while strengthening the overall appeal of Southlake as a location to Live, Work, Shop, Stay and Play Prepare illustrative image collages (as taken from the case studies noted in Task A), to visually communicate the potential look and feel of recommended projects. Define how the various components will collectively establish a foundation for retaining local businesses, creating employment opportunities, while attracting inflow from outside Southlake for retail spending, and overall economic benefit. •� Identify potential end -user Retail Tenants that fit the profile of the land use and development strategy. Outline the Prioritization Actions over the Short, Medium and Long Term. 3 Provide direction for the optimal Development Absorption/Phasing Strategy within the City to ensure that development is "right -sized" to match market opportunities and capture target markets as the City approaches build -out projections. Illustrate diagrammatically in plans and tables the recommended Land Use & Development Allocation Phasing strategy, balanced against the market analysis findings for Task B. 4 Provide general Policy Recommendations for integrating new commercial development formats in the Southlake built environment. Southlake Texas Retail Analysis MXD13-53 Page 13 December 131h, 2013 [�piVIX DEVELOPMENT STRATEGISTS DELIVERABLES & MEETINGS The following deliverables would be prepared for Tasks A - D: Participation in a KICKOFF WORKSHOP with City Staff. Macro -Economic Overview Summary identifying the overall development objectives for Southlake. 4 Best Practices summary and Commercial Development Trends. 3 Analysis of all adopted planning documents related to retail and commercial development. Market Analysis Summary including bullet point highlights, charts, tables, figures outlining the preliminary demand quantification for the City. PowerPoint Summary of Task A & B findings and analysis. •3� Participation in an INTERIM GO -TO ONLINE WORKSHOP #1 with City Staff to present Task A & B Findings "Interim Research Summary". a Land Use Allocation & Product Mix Summary Table, highlighting: 4 Recommended composition of commercial uses including Retail, Entertainment, and Food and Beverage. Recommended market positioning for each land use, including target markets, formats etc. Tables and charts illustrating the Recommended Commercial Land Use Programs, Products and Land Use Mix, as well as their phasing/absorption projections. 4 Preliminary Bubble Concept Diagrams to illustrate recommended locations of Key Anchor Functions & Districts including the location of major retail projects. 4 Participation in INTERIM GO -TO ONLINE WORKSHOP #2 with City Staff to present Draft Final Report findings, implications and recommendations. 4 Allow City Staff to obtain comments from the Public regarding the Draft Final Report. --) Input direction and feedback from Client and Public into Final Report. The Final Retail Analysis Report will succinctly cover all aspects of the Scope of Work with detailed support and research included in Appendices. The Final Report will be conveyed visually with map graphics as well as supporting text. Images and graphics will also be used throughout to further illustrate the findings and recommendations. Participation in FINAL PRESENTATION WORKSHOP with the City of Southlake to present Final Report findings, policy directions, implications and recommendations. FINAL REPORT Document with Executive Summary. MXD Development Strategists team members can be contacted throughout the assignment to provide consultation via telephone conference calls and/or online meetings (such as through GoToMeeting), when required. Southlake Texas Retail Analysis M XD 13-53 Page 14 December 131h, 2013 111111L Apr Eouh%k DEVELOPMENT STRATEGISTS BENCHMARKS The general timeline of tasks and benchmarks are noted in the below Gantt Chart. The proposed chart can be changed as mutually agreed upon by MXD and the Client (The City of Southlake) either prior to work commencement or during the project stages: WEEK 1 2 3 4 5 6 7 8 9 10 11 12 Project Initiation - Kickoff Meeting TASKA- PROJECT UNDESRSTANDING & BACKGROUND ANALYSIS TASK B- RETAIL MARKET ANALYSIS Interim Workshop- Go -To Meeting #1 TASK C - COMMERCIAL LAND USE PROGRAMMING ALLOCATION TASK D-SUMMARY FINDINGS, DIRECTIONS & PRIORITIES Interim Workshop- Go -To Meeting #2 CITY OF SOUTHLAKE REVIEWS DRAFT FINAL REPORT INPUT FROM STAKEHOLDERS & PUBLIC REVISIONS TO FINAL REPORT Final Presentation Workshop & Meeting Submittal of Final Document to the City of Southlake Southlake Texas Retail Analysis MXD13-53 Page 15 December 131h, 2013 I -MMXV [ EVEL OPMENfi STRATEGISTS 5 TIMING & PROJECT FEES Given our familiarity with the DFW Metroplex from completing previous projects in the market, as well as our keen interest in working with the City of Southlake on this assignment, MXD would undertake the described MXD Tasks A, B, C & D work program for a Professional Fee budget of USD $38,500 (including taxes, disbursements and expenses). The proposed budget and scheduling is summarized as follows: MXD has allocated two trips to the DFW Metroplex into the budget. One trip would be for the Kick-off Workshop and information gathering stage, while the other would be for the Final Presentation. We would be happy to discuss refinements to our scope and fee to meet your budgetary requirements. In addition to the proposed two in -person meetings, MXD Development Strategists would be available throughout the project via telephone conferencing and/or online meeting technology (such as (� GoToMeeting) to provide ongoing input on retail -related design options. (� In order to cover start-up costs, we request a project mobilization retainer payment of USD $5,000 of the total Professional Fee, in order to initiate the assignment. Remaining fees, expenses and disbursements would be billed on a monthly progress basis, with payment required upon invoice issuance and due within 15 calendar days of the date of invoice issuance. i� Should this scope and fee be acceptable for the assignment, please indicate the approval to proceed on behalf of the City of Southlake by providing the signature of the signing authority representative for the City of Southlake in the space provided on the following page of this agreement, then please send one signed copy to us digitally and in hard copy. Should our Team be selected for this assignment and you accept our proposal, you also accept the Terms and Conditions attached as Appendix A. MXD will subsequently furnish the City of Southlake with our standard "Terms & Conditions Agreement" document for approval and signature. Then, once the identified project mobilization Retainer Payment amount indicated above has been received into our accounts, we will initiate the assignment immediately. Southlake Texas Retail Analysis MXD13-53 Page 16 December 131h, 2013 PiVIXV DEVELOPMENT STRATEGISTS CONCLUSION We thank you for the opportunity to present our proposal and to assist you in performing this exciting Retail Analysis for the City of Southlake. We look forward to the opportunity to work together with your Team. Should you have any questions regarding our proposal or any other items, please do not hesitate to contact us either by e-mail at chris@MXDdevelopment.com or andrew@mxddevelopment.com or by mobile phone at +1-604-644-4139 (Chris) or +1-778-929-4440 (Andrew), or by office telephone at +1-604-272- 6937. We also invite you to explore our web site www.rnxddevelopment.c_om which provides a profile of our capabilities, approach and experience. Respectfully submitted. Sincerely, MXD DEVELOPMENT STRATEGISTS LTD. Chris LeTourneur President & Chief Executive Officer As per Proposal Acceptance for Tasks A, 8, C & D. For the City of Southlake: Name: Title: Date: Andrew Fayn Planning Strategist For MXD Development Strategists Ltd.: Name: Title: Date: Southlake Texas Retail Analysis MXD 13-53 Page 17 December 131h, 2013 APPENDIX A TERMS AND CONDITIONS wmX13 DEVELOPMENT STRATEGISTS Southlake Texas Retail Analysis MXD13-53 Page 18 December 131h, 2013 } 1 I X /iVIV DEVELOPMENT STRATEGISTS APPENDIX A: TERMS & CONDITIONS In addition to the terms of the proposal, by signifying approval to proceed with the proposed work program, the following are also agreed upon: 1) This Agreement shall remain in force for a period of three years from the date of its signature. 2) This Agreement is the property of MXD Development Strategists Ltd., and shall not be copied, revised or distributed to anyone other than the parties it is addressed to without the expressed approval of MXD Development Strategists Ltd. At any time before execution of this Agreement by the Client, MXD Development Strategists Ltd. may, at its sole discretion, have the right to withdraw this Agreement from the Client, and/or amend and re -submit this Agreement to the Client. 3) Project will only commence once any required retainer fees have received from the Client by MXD Development Strategists Ltd. 4) All invoices shall be paid and are due within 15 calendar days of the date of invoice issuance. 5) Overdue accounts will be charged interest by MXD Development Strategists Ltd. at a rate of 2% on all outstanding balances. 6) Disbursements shall be recorded at cost plus 2% for administration in addition to identified professional fees. 7) Final reports and deliverables prepared by MXD Development Strategists Ltd. shall not be provided until all outstanding accounts are settled. 8) Exclusion: It is a term of the agreement between MXD Development Strategists Ltd. and the Client that MXD Development Strategists Ltd. and its officers, employees, subcontractors, and agents do not assume any liability for the statements, comments, suggestions, or representations made in any written or oral report, whether such possible liability arises from negligence, errors, omissions, breach of contract, breach of warranty, misrepresentation, fundamental breach, strict liability of otherwise, and whether such act is for consequential damage, property damage, personal injury of any nature or otherwise. 9) Indemnity: The Client agrees to indemnify and save MXD Development Strategists Ltd., as well as its officers, employees, subcontractors and agents, harmless from and against all claims, demands, costs, damages, suits, expenses and liabilities which they may incur or suffer by virtue of, in connection with, or arising out of the services being provided by MXD Development Strategists Ltd., provided however that the client shall not indemnify MXD Development Strategists Ltd for claims, demands, costs, damages, suits, expenses and liabilities arising from MXD Development Strategists' sole negligence, to the limits of the fee scope of this assignment. 10) Applicable Law: This Agreement and all matters arising under or by virtue of it shall be interpreted, construed and governed by the laws of the Province of British Columbia, Canada. 11) Basic Termination: In the event of a default of any provision of this Agreement by the Client, after fifteen (15) calendar days notice to cure is delivered, this Agreement may be deemed terminated by the Consultant. For purpose hereof, any failure to pay sums due in accordance, the Fees identified in the Agreement shall be deemed default. Either party may terminate this Agreement for convenience and without cause upon thirty (30) calendar days written notice by either party. If the Client or the Consultant terminates this Agreement for convenience, the Consultant shall be compensated for Services performed prior to termination, together with reimbursable expenses then due. Southlake Texas Retail Analysis MXD13.53 Page 19 December 13th, 2013 0 VrXV DEVELOPMENT STRATEGISTS APPENDIX A: TERMS & CONDITIONS (Continued) 12) Stopping of Work by Consultant: When any invoice is outstanding and unpaid thirty (30) days after the date of billing, the Consultant may, at its discretion, stop work on the project. In addition, when any invoice is outstanding and unpaid ninety (90) days after the date of billing, the Consultant may withdraw from any governmental agency review process any applications, drawings, submittals or other project documents reflecting the Consultant's services. No notice of the Consultant's intent to stop work or to withdraw from any governmental review process shall be required. The Client forever releases, discharges and holds the Consultant harmless from any and all liability arising out of the Consultant's withdrawal of any applications, drawings, submittals or other project documents. The Client shall fully indemnify, defend, and hold harmless the Consultant against any and all claims for liability asserted by any project participant for any action taken by the Consultant under this paragraph. 13) Restarting of Work by Consultant: If the services are suspended or abandoned, in whole or in part, fora period of ninety (90) days or more, or upon instruction by the Client to the Consultant to suspend activity on the project by written notice of forty-five (45) calendar days by the Client to the Consultant, the Consultant shall be compensated for all services performed together with all reimbursable expenses due and the Agreement shall be deemed terminated. If the services are resumed after such suspension, the Agreement between the Client and the Consultant shall be renegotiated prior to resumption of services by the Consultant. Such renegotiation shall include a fee for remobilization costs incurred by the Consultant. In the event that this Agreement is terminated due to the suspension or abandonment of the services, the Client shall make full payment to the Consultant for all compensation due hereunder upon receipt of a final invoice from the Consultant. For purposes of this Agreement, the term "suspension" or "abandonment" shall mean substantial discontinuance of labor, services, and expenses for a ninety (90) day period or written instruction by the Client to suspend substantially the services. 14) Intellectual Property Rights: Reports, plans, diagrams, drawings and specifications, including those in electronic form, prepared by the Consultant are the Instruments of Service for use solely with respect to the services and deliverables of this Agreement. The Consultant shall be deemed the author and owner of their Instruments of Service and shall retain all common law, statutory, and other rights, including copyrights. Only upon the approval of the Consultant, made by the written application by the Client to the Consultant, the Consultant may at its discretion grant the Client a non-exclusive license to reproduce the Consultant's Instruments of Service solely for the purposes of planning, constructing, using and maintaining the subject plan area being addressed by the services, provided that the Client shall comply with all obligations, including prompt payment of all sums when due, under this Agreement. The Client shall be permitted to retain copies of reports, plans, diagrams, drawings and specifications, for information and reference in connection with the Client's use and development and/or occupancy of the plan area. The reports, plans, diagrams, drawings and specifications shall not be used by the Client on another project or assignment, except by agreement in writing between the Consultant and the Client. Any authorized or unauthorized use of the Instruments of Service without the Consultant's consent shall be at the Client's sole risk and without liability to the Consultant. The Client shall indemnify and hold harmless the Consultant and its Sub - Consultants from and against claims, damages, losses and expenses, including, but not limited to payment of attorney's fees, arising out of unauthorized use of the Instruments of Service that are part of the services and deliverables of this Agreement. The Consultant shall not be responsible or liable for any direct, actual or consequential damages which occur as the result of its inability to produce the Instruments of Service by reason of the casualty, destruction or loss of documents that occurs through no fault of the Consultant. 15) Time & Materials Not to Exceed Clause: This proposal provides a budgetary fee and estimated time schedule for each recommended work program item, which we are bound to under contractual obligation and do not intend to exceed. Should additional meetings be required, or the scope of the assignment or the deliverables increase, these items would be billed in addition to the proposed fees, at the Consultant's regular charge rates. Southlake Texas Retail Analysis MXD13-53 Page 20 December 131h, 2013 offigM"X0 DEVELOPMENT STRATEGISTS APPENDIX A: TERMS & CONDITIONS (Continued) 16) Force Majeure: Neither the Consultant nor the Client shall be responsible for any loss, damages, delay, or failure in performing hereunder arising or resulting from circumstances or occurrences outside such Party's reasonable control including act of war or terrorism; strike or lockout or stoppage or restraint of labor from whatever cause; riot; act of civil or military authority; actions by Government and their respective officers, agents, invitees, and employees as they relate to on -site construction, or investigation and remediation of environmental conditions on the Project Site by the Government; fire; or other natural disaster. 17) This agreement constitutes the entire agreement between the parties (being the Client and MXD Development Strategists Ltd.), and no amendments may be made hereto unless made in writing and signed by the Client and MXD Development Strategists Ltd. Southlake Texas Retail Analysis MXD13-53 Page 21 December 13th, 2013 APPENDIX B MX® PROJECT TEAM Mv�V DEVELOPMENT STRATEGISTS Southlake Texas Retail Analysis MXD13-53 Page 22 December 13«, 2013 EDUCATION j Bachelor of Arts Urban & Economic Geography j University of BC Masters Degree Community/Regional Planning University of BC SPECIALIZATIONS Mixed -Use Development Planning Financial Analysis & Development Proformas Tourism & Resort Retail Master Planning Inter -Modal Transportation Place Creation & Programming International Retail Trends & Formats Downtown Main Street & City Center Retail Strategies Market -Driven Community Planning Airport Land Development & Master Planning Airport, Rail & Transportation Terminal TOD Retail Retail Layout Planning & Merchandising Strategies Office & Industrial Planning Transit -Oriented Development Planning 04 MAir xLJ DEVELOPMENT STRATEGISTS Chris LeTourneur, B.A., M.A., M.C.I.P. President / Chief Executive Officer In his twenty years of experience working in Market Driven Planning, Architecture and Engineering, Chris has established an appreciation for the multi -disciplinary skills that are necessary to assess, define and identify major mixed -use development projects. Chris has lead project teams to create major Mixed -Use and Commercial Development Strategies in cities around the world including Denver, Houston, Dallas, Salt Lake City, Vancouver, Hong Kong, Moscow, and Cairo to mention a few. Chris is specifically known for utilizing market research to work with master planning and design teams towards define three-dimensional projects, big ideas and space layout strategies. He blends his retail knowledge with his backgrounds in urban development, land economics and town planning to provide complete mixed -use market -driven community development advisory services. In the course of his project experience, Chris has established working relationships with airports, public agencies, developers, financiers and major commercial operators, thereby not only preparing development strategies, but also connecting the dots within the development network in order to make projects happen. This exposure is further enhanced through his active involvement in the World/Airport Council International (ACI), International Council of Shopping Centers (ICSC), the Urban Land Institute (ULI), the Canadian Institute of Planning (CIP), the Resort Forum and Airport World/Airport Council International (ACI). Within these organizations, Chris has been actively involved in chairing conference - events, moderating and speaking on panel discussions and publishing magazine articles, in order to further the network, knowledge base and spectrum of ideas with regard to next generation concepts in land development and place making. Southlake Texas Retail Analysis MXD13-53 Page 23 December 13th, 2013 PRESENTATIONS Airport Cities Conference, Memphis, April 2011 Airport Cities Conference, "Contribution of Non -Aeronautical Revenue Streams to Airport City & Aerotropolis Development", Beijing, April 2010 Airport Cities Conference, "Airport Commercial Property Development: Opportunities & Challenges", Beijing, April 2010 Airport Cities Conference, Athens, April 2009 Airport Council International, "Economics & Finance", London, February 2009 Airport Cities Conference, Dallas Fort Worth, April 2008 Airport Cities Conference, Frankfurt Int'I Airport, April 2007 Airport Cities Conference, Hong Kong Int'I Airport, September 2006 Airport Cities Conference, Palermo, Italy, June 2006 wm%« DEVELOPMENT STRATEGISTS PROJECT EXPERIENCE UNITED STATES DC Ranch Town Center, Scottsdale, Arizona Estrella Mountain Ranch, Goodyear, Arizona DC Ranch Town Center (Stack Forties), Scottsdale, Arizona Downtown Redevelopment Strategy, Oxnard, California Downtown Redevelopment Strategy, Fremont, California Development Framework, Petaluma, California Railyard Lands Mixed -Use Development, Sacramento, California Gray's Crossing, Truckee, North Tahoe, California Northstar at Tahoe Village Development Strategy, California La Quinta Old Town, Palm Springs, California Long Point Core Master Plan, Palos Verdes, California Heavenly Base Village, South Lake Tahoe, California Wild Dunes Core Master Plan, South Carolina Place 36, Broomfield, Colorado Union at Project Lifebridge, Longmont, Colorado Riverfront Park, Denver, Colorado Beaver Creek Village Enhancement, Avon, Colorado Lionshead/Arabel Redevelopment Plan, Vail, Colorado Aspen Downtown Enhancement, Colorado Snowmass Village Development Plan, Colorado Coconut Creek MainStreet Dev't Market Analysis, Coconut Creek, Florida Xentury City Master Plan, Orlando, Florida Tamarack Resort Village, McCall, Idaho Sunday River Village, Maine Big Mountain Village, Whitefish, Montana Baxter Meadows, Bozeman, Montana The Bridges of Saint Paul Riverfront Mixed -Use Dev., Saint Paul, Minnesota Union Park Mixed -Use Development Strategy, Las Vegas, Nevada East Village Development at McCarran International Airport, Las Vegas Nevada Downtown Millennium Development Strategy, Reno, Nevada Somerset Town Center, Reno, Nevada Downtown Redevelopment Strategy, Phoenix, Nevada Lake Las Vegas Resort, Nevada Paiute Tribe Resort, Las Vegas, Nevada Loon Mountain Resort, New Hampshire Sunriver Mixed -Use Resort Village Strategy, Bend, Oregon Villages at Cascade Head Master Plan & Core Strategy, Lincoln City, Oregon Market Street at the Woodlands, North Houston, Texas Telfair (Newland Communities), Sugarland, Texas West 8 Mixed -Use Development, Houston, Texas Gateway Center & Downtown Redevelopment Strategy, Salt Lake City, Utah Holladay Village Master Plan, Holladay, Utah Sundance Commons, Pleasant Grove, Utah, Downtown District Redevelopment Master Plan Strategy, Ogden, Utah Tooele Economic Development Strategy, Tooele, Utah Southlake Texas Retail Analysis MXD13-53 Page 24 December 13t^, 2013 PRESENTATIONS ICSC Centre Build, Phoenix Arizona, December 2009 Urban Land Institute Reinventing Retail Conference, February 2009 Urban Land Institute Fall Meeting, "Place Making from the Ground Up", October 2008 Urban Land Institute Reinventing Retail Conference, February 2007 ICSC China Investment & Development Workshop, October 2009 ICSC Spring Convention, "Retail Going International", May 2008 ICSC Spring Convention "Retail Development in India", May 2005 India Shopping Center Forum Mumbai, "From Mallscape to Dreamscape" India, March 2008 China Retail Council, "Retail Development Trends in Asia" Chengdu, China 2006 �i ,0*� .� DEVELOPMENT STRATEGISTS UNITED STATES (Continued) Gardner Village, West Jordan, Utah Killington Resort Village, Vermont Lacey Gateway Master Plan, Lacey, Washington 490 North Resort Master Plan Envisioning, Chewela Peak, Washington Semiahmoo Resort Spit Master Plan, Blaine, Washington Salish Lodge Retail & Lodge Expansion, Snoqualmie, Washington Snoqualmie Pass West Base Development Master Plan, Washington Suncadia Resort Core Development Strategy, Roslyn, Washington CANADA Three Sisters Resorts Master Plan, Canmore, Alberta Windermere, Edmonton, Alberta Ryder Lake & Eastern Hillsides Area Plans, Chilliwack, British Columbia Westwood Plateau Master Plan & Guidelines, Coquitlam, British Columbia Crowne Isle Commercial Parcel, Courtenay, British Columbia Afton Mines Re -Positioning, Kamloops, British Columbia Ladysmith Harbour Area Plan, Ladysmith, British Columbia Bear Mountain Mixed -Use, Langford, British Columbia Cedar Valley Area Plan, Mission, British Columbia Rosemary Heights — Morgan Creek Area Plan, Surrey, British Columbia Molson Brewery Redevelopment Entitlement, Vancouver, British Columbia Predator Ridge Resort Core Master Plan, Vernon, British Columbia Victoria Harbour Plan, Victoria, British Columbia Victoria Old/Capitol Iron Town Envisioning, Victoria, British Columbia Resort Village Retail Enhancement Strategy, Whistler, BC Chateau Viger, Old City of Montreal, Quebec AIRPORT AND TRANSPORTATION -ORIENTED Memphis Aerotropolis Real Estate Market Dev't Strategy, Memphis, Tennessee Memphis Aerotropolis Master Plan, Memphis, Tennessee Belo Horizonte, State of Minas Gerais, Economic Master Plan, Brazil Denver International Airport, Airport City Development Strategy, Colorado Halifax International Airport, Airport Land Development Strategy, Nova Scotia Calgary International Airport, Land Dev. Master Plan & Marketing Strategy, Alta. Edmonton International Airport, Land Development Master Plan, Alberta Vancouver International Airport, Russ Baker Corridor Development Strategy, BC Vancouver International Airport, Non-Airside Land Development Strategy, BC Vancouver International Airport, Terminal Retail Strategy, British Columbia Shanghai Hongqiao International Airport, Airport City Feasibility Study, China Muscat International Airport, Land Development Strategy, Oman Jeddah King Abdul Aziz International Airport, Jeddah, Saudi Arabia Dubai International Airport, Airport Cities, UAE Larnaca International Airport Commercial Land Development Strategy, Cyprus Azteca, Martina Carreras & El Rosario Inter -Modal Rail Stations, Mexico City BC Ferries Quay Terminal Retail Program, Tsawwassen, British Columbia Cruise Ship Terminal Retail Program, Vancouver, British Columbia Southlake Texas Retail Analysis MXD13-53 Page 25 December 13th, 2013 AFFILATIONS International Council of Shopping Centers (ICSC) Urban Land Institute (ULI) Canadian Institute of Planning (CIP) The Resort Forum Airport Council International (ACI) "IL AdV DEVELOPMENT STRATEGISTS AIRPORT AND TRANSPORTATION -ORIENTED (Continued) Fraser Port Master Plan, Fraser River, British Columbia Nanaimo Regional Airport, Land Use Master Plan, British Columbia Ogden Regional Airport, land Development Strategy, Ogden, Utah WA State Ferries Waterfront Terminal Redevelopment, Seattle, Washington Nanaimo Airport Master Plan, Nanaimo, British Columbia INTERNATIONAL Cabo Centrale, Cabo San Lucas, Mexico Baha Mar Cable Beach Resort Redevelopment, Nassau, Bahamas Solana Lifestyle Entertainment Center, Chaoyang Park, Beijing, China Casin Plaza, Market Analysis & Development Strategy, Chongqing, China Cairo Financial Center, Mixed Use Development Strategy, Cairo, Egypt Cairo Eastown, Cairo, Egypt Cairo Westown, Cairo, Egypt Anschutz Entertainment Project, Berlin, Germany Causeway Bay Lee Gardens District Retail Strategy, Hong Kong Hennessey Centre Redevelopment, Hong Kong Pioneer Park, Gurgaon, New Delhi, India Beirut City Center, Beirut Lebanon Boutique Hotel Market Assessment, Beirut, Lebanon Yartsevskaya City Center, Moscow, Russia Sevastapolskiy Shopping Center, Moscow, Russia Auchan City Mall, Moscow, Russia Mandarin Waterfront Resort Entertainment Project, Sochi, Black Sea, Russia Al Oula Towers, Al Khobar, Saudi Arabia Jeddah Central District, Jeddah Saudi Arabia North Port Highest & Best Use Development Strategy, Incheon, South Korea Yongsan IBD Competition, Seoul, South Korea Dubai International Finance Center, UAE Reemstsma Downtown Mixed -Use Development, Kiev, Ukraine Southlake Texas Retail Analysis MXD13-53 Page 26 December 131h, 2013 EDUCATION Master of Science University of Waterloo Bachelor of Arts University of British Columbia SPECIALIZATIONS Market Analysis Financial Analysis Geographic Information Systems Land -Use Planning Mixed -Use Development Planning Retail Layout Planning & Merchandising Strategies Office & Industrial Planning Hotel/Accommodation Planning Transit -Oriented Development Planning Resort Retail Master Planning Place Creation & Programming ffio MX 1�--Wmlqk DEVELOPMENT STRATEGISTS Martin Anstey, B.A., M.Sc. Senior Vice President In his 15 years of experience in Real Estate Development, Martin has participated in over 300 major projects, including mixed -use developments, shopping centers, transit -oriented developments, downtown revitalization areas, suburban redevelopment areas and airport cities. Martin has participated in real estate development projects throughout North America and internationally, and has been part of the leading edge in defining successful approaches for creating viable real estate projects. One of Martin's primary roles is to perform the quantitative analysis that is the foundation for "Market -Driven Planning". He combines the use of Market Analysis, Financial Analysis and Land Development Strategy to objectively determine opportunities for viable real estate development projects throughout the world. Martin then assists in translating this analysis into implementable concept plans that reflect successful planning and design principles. Martin graduated with a Masters of Science from the university of Waterloo in Ontario, Canada with a focus on Urban Analytics. PROJECT EXPERIENCE NORTH AMERICA Coconut Creek MainStreet Development Market Analysis, Coconut Creek, Florida Candlestick Park, Sports -Oriented Mixed -Use Dev. Strategy, San Fran., California Horizon City Eco Mixed -Use Community Dev. Strategy, Aurora, Colorado Union Mixed -Use Village and Assisted Living Facility, Longmont, Colorado Central Entrance, Miller Hill Corridor Market Study, Duluth, Minnesota Lacey Gateway Mixed -use Town Centre Dev. Strategy, Lacey, Washington Treasure Island Community Development Strategy, San Francisco, California Hollywood Park Community Redevelopment Strategy, Los Angeles, California Spruce Grove Town Centre Market Analysis & Economic Impact Study, Alberta Stoney Lands, Office / Retail / Industrial Market Study, Alberta The Crossings, Mixed -Use Development Strategy, Lethbridge, Alberta Home Depot Site Selection Analysis, Grande Prairie, Alberta District of Saanich, Land Development Strategy, Saanich, BC Metrotown Mall Repositioning, Burnaby, British Columbia Uptown Mixed -Use Redevelopment Strategy, Victoria, British Columbia Predator Ridge, Resort Core Development Strategy, Vernon, British Columbia Estrella Mountain Ranch, Goodyear, Arizona Montelago Village Mixed -Use Revitalization Strategy, Las Vegas, Nevada Villages at Cascade Head, Resort Community & Resort Dev, Strategy, Oregon Snoqualmie Pass, Resort Residential Market & Financial Analysis, Washington Semiahmoo Resort Core Development Strategy, Blaine, Washington Don Mills Town Centre Redevelopment Strategy, Toronto, Ontario Fairview Mall Repositioning Strategy, Toronto, Ontario SunStar, Vertical Mixed Use Development Strategy, Dallas Texas Southlake Texas Retail Analysis MXD13-53 Page 27 December 131h, 200 PRESENTATIONS China 2006, China Retail Council, "Retail Development Trends in Asia" India 2005, Retail Forum "Retail Market Analysis' xv DEVELOPMENT STRATEGISTS NORTH AMERICA (Continued) Downtown Redevelopment Strategy, Oxnard, California Downtown Redevelopment Strategy, Fremont, California Development Framework, Petaluma, California Marina District, Market Analysis & Land Use Strategy, Toledo, Ohio The Bridges of Saint Paul Riverfront Mixed -Use Dev., Saint Paul, Minnesota Baxter Meadows Mixed -Use Town Centre Dev. Strategy, Bozeman, Montana Downtown Redevelopment Strategy, Phoenix, Nevada West 8, Mixed Town Centre Dev. Strategy & Financial Analysis, Houston, Texas AIRPORT & TRANSPORTATION RELATED Denver International Airport, Airport City Development Strategy, Colorado Memphis Aerotropolis Development Strategy, Memphis, Tennessee Vancouver Intl Airport, Russ Baker Corridor Dev. Strategy, BC Vancouver Intl Airport, Sea Island Business Park, Financial Analysis, BC Vancouver Intl Airport, Industrial Development Strategy Halifax International Airport, Financial Analysis & Land Use Strategy, Nova Scotia Edmonton International Airport, Land Development Master Plan, Alberta Muscat International Airport, Land Development Strategy, Oman Cruise Ship Terminal Development Strategy, Kingston, Jamaica FraserPort Master Plan, Vancouver, British Columbia Washington State Ferries Terminal Redevelopment, Seattle, Washington INTERNATIONAL Peninsula Papagayo Marina Resort Village Development Strategy, Costa Rica Expo Lands Redevelopment Strategy, Lisbon, Portugal Cairo Financial & Touristic Center, Mixed -Use Development Strategy, Egypt Eastown, Mixed -Use Community Development Strategy, Cairo, Egypt Westown, Mixed -Use Community Development Strategy, Cairo, Egypt Downtown Beirut Redevelopment Strategy, Beirut, Lebanon Downtown Beirut— Hotel/Accommodation Market Study, Beirut, Lebanon Jeddah Central District, Downtown Redevelopment Strategy, Saudi Arabia Dubai International Finance Center (DIFC), Development Strategy, Dubai, UAE Northport Economic Development Strategy, Inchon, Korea COEX Retail MD Plan, Market Analysis & Development Strategy, Seoul, Korea "K" Project, Kyungbang, Market Analysis & MD Planning, Seoul, Korea Suwon Gateway Center, Market Analysis & MD Planning, Suwon, Korea Bandar Nusajaya Retail Development, Market Analysis, Johor Bahru, Malaysia Casin Plaza, Mixed -Use Market Analysis & Dev. Strategy, Chongqing, China Hongqiao International Airport, Airport City Feasibility Study, China Solana Lifestyle Entertainment Center, Chaoyang Park, Beijing, China Wave City Center, Mixed -use Market Analysis & MD Planning, Delhi, India Pioneer Park, Gurgaon, New Delhi, India Southlake Texas Retail Analysis MXD13-53 Page 28 December 131h, 2013 f.1 EDUCATION Master of Planning Urban Development Ryerson University Toronto, ON, Canada Bachelor of Arts Urban Geography Simon Fraser University Burnaby, BC, Canada SPECIALIZATIONS Mixed -Use Development Planning Transportation -Oriented Development Planning Downtown Revitalization, Urban Infill and Intensification Studies Economic Development Retail Positioning & Tenant Prospecting Market Feasibility Studies Development Layout Planning Tenant Mix Layout Planning Place -Creation & Programming Policy Planning PUBLICATIONS "Destination Retail", Airport World, Vol. 16 Issue 1, 2011 "Green Power", Global Airport Cities, Vol. 4 Issue 2, 2009 "The Perfect Market?", Global Airport Cities, Vol. 4 Issue 1, 2009 M � i� , ,*� LJ' DEVELOPMENT STRATEGISTS Andrew Fayn, M.N. Planning Strategist Andrew holds a Master of Planning in Urban Development from Ryerson University. In addition, he also has a Bachelor of Arts Degree in Urban Geography and a Certificate in Urban Studies from Simon Fraser University, Canada. Andrew has conducted Market Feasibility, Land Use and Development Strategies around the world, providing clients with a diverse knowledge in Urban Planning, Economic Development and Mixed -Use Commercial Operations. Andrew has direct expertise in formulating implementable Market -Driven Studies and Economic Development Strategies with a Planning focus for both Government and Private Sector Clients. He has conducted Market, Planning and Development Studies across the United States and Canada, as well as internationally in countries such as Russia, China and Saudi Arabia, among others. Asset classes include retail, office, industrial, accommodation, and mixed -use development. His focus has been towards properly planned urban environments that feature a mix of uses and become memorable inclusionary places for all that use them. He is a contributing writer for both Global Airport Cities and Airport World magazines, with an emphasis on development trends within terminal buildings and the adjacent lands, along with sustainable building practices at airports. PROJECT EXPERIENCE CANADA Bentall Kennedy, Intensification Development Study, Toronto, ON City of Kingston, Commercial Market Analysis, Kingston, ON City of Saskatoon, Comprehensive Development Study, Saskatoon, SASK Hawkstone, Market Analysis & Development Strategy, Regina, SASK The Crossings, Market Analysis & Development Layout Planning, Lethbridge, AB Preston Crossing, Retail Impact Analysis, Saskatoon, SASK Edmonton Int'I Airport, Highway Commercial Development Strategy, Edmonton, AB Vancouver Int'I Airport, Market & Development Strategy, Vancouver, BC UNITED STATES Sonoran Institute, Commercial Market Study for the Rocky Mountain West Region Denver Int'I Airport, Airport City Development Plan, Denver, CO Point West, Preliminary Development Concept, Draper, UT Fairbourne Station, City Center TOD Redevelopment Strategy, West Valley City, UT SunStar, Market Analysis & Development Strategy, Arlington, TX Semiahmoo Resort, Mixed -Use Resort Core Development Strategy, Blaine, WA INTERNATIONAL Hong Kong International Airport, Retail Planning & Development Program, Hong Kong Belo Horizonte, Land Use & Economic Development Masterplan, Belo Horizonte, Brazil Casin Plaza, Market Analysis & Development Program, Chongqing, China Auchan City Shopping Center, Moscow, Russia Mandarin Waterfront Resort Entertainment Project, Sochi, Russia Muscat Int'I Airport, Land Development Strategy, Muscat, Oman Jeddah Central District, Downtown Redevelopment Strategy, Saudi Arabia Dubai International Finance Center, Commercial Tenant Mix Plan, Dubai, U.A.E Southlake Texas Retail Analysis MXD13-53 Page 29 December 13111, 2013 EDUCATION Bachelor of Arts Geography Simon Fraser University Burnaby, BC, Canada Certificate in Urban Studies Simon Fraser University Burnaby, BC, Canada SPECIALIZATIONS Mixed -Use Development Planning Local Economic Development Commercial Development Trends Tenant Mix Layout Planning Market Analysis and Feasibility Studies Downtown Revitalization, Urban Infill and Intensification Studies Retail Operations & Tenant Prospecting Development Layout Planning Place -Creation & Programming Community Planning l� NO M DEVELOPMENT STRATEGISTS David Nanton, B.A. Market Strategist David holds a Bachelor of Arts degree in Geography, as well as a Certificate in Urban Studies from Simon Fraser University, Canada. David has conducted Market Analysis and Development Strategies for various projects throughout North America and internationally, helping to provide sound information for Mixed -Use Developments, Local Economic Development, and Retail Development Strategies. David has experience in the creation of Market -Driven Studies for various public and private clients. Research and Analysis performed by David includes assessing numerous Markets and Commercial Formats, as well as the ever changing trends involved in Urban Planning and Development. David's planning focus is towards creating financially viable developments that enhance social and community well-being, while taking into account the requirements of a balanced community such as transportation concerns, employment considerations, and appropriate land -use among others. PROJEcr EXPERIENCE CANADA City of Winnipeg, Airport City Master Plan, Winnipeg, MB Vancouver Int'I Airport, Russ Baker Corridor Dev. Strategy, British Columbia Population Projections, Trend, & Capacity Build -Out Analysis, Saanich, BC Halifax International Airport, Airport Land Development Strategy, Nova Scotia Edmonton International Airport, Land Development Master Plan, Alberta Sherwood Park, Market Analysis & Development Layout Planning, Sherwood Park, AB UNITED STATES Rockerfeller Group, Retail Market Analysis, Bellevue, WA Candlestick Park, Mixed -Use Development Strategy, San Francisco, California City of Coconut Creek, Market Analysis, Coconut Creek, FL Denver International Airport, Airport City Development Strategy, Colorado Memphis International Airport, Aerotropolis Development Strategy, Tenn. Sonoran Institute, Mixed -Use Development Trends Study, Rocky Mountain West, USA INTERNATIONAL Wuhan Finance City, Tenant Mix Layout Planning, Wuhan, China ENKA TC, Merchandise Layout Plan, Kuntsevo, Russia Southlake Texas Retail Analysis MXD13-53 Page 30 December 131h, 2013 0 Idor "po Mo�e LJ DEVELOPMENT STRATEGISTS APPENDIX C REFERENCES (EXHIBIT C) Sauthlake Texas Retail Analysis MXD13-53 Page 31 December 13«, 2013 iVIxV DEVELOPMENT STRATEGISTS Client Scope of Work Date of Service: Summer/Pall 2013 Deliverables Name: Sheila N.Rose Commercial Market Analysis Demographic Analysis Case Studies & Best Practices Study of potential Tax Revenue Market -driven development strategy to assist i n the creation of a Main Street and Mixed use Town Center. Additional data and was supplied to display the additional tax revenues the I City would have from the dI ment. Title: Director Employer: City of Coconut Creek, FL Phone: 954-973-6756 Email: srose@coconutcreek.net Project Title: Central Entrance - Miller Hill Corridor Market Study Date of Service: Spring 2009 Client Scope of Work Deliverables Name: Cindy Petkac Commercial Market Analysis Targeted Redevelopment Sites Economic Impacts Demographic Analysis Created a long-term planning vision forthe area with a focus on infill commercial development. Title: Land Use Supervisor Employer: City of Duluth, MN Phone: 230-730-5580 Email; cpetkac@duluthmn.gov Client Scope of Work Date of Service: Spring 2010 Deliverables Name: Brent Garlick Commercial Market Analysis Demographic Analysis Analysis of Existing Planning Docs Site Analysis and Layout Planning Stakeholder Engagement Market -driven report for redevelopment ofWVCC. Development strategy that displayed the mix of uses, a mount of space (squa re footage and acres), phasing and target end users. Title: Director Redevelopment Agency Employer: West Val ley City, UT Phone: 801-963-3473 Email: Brent.Garlick@wvc-ut.L0v Project Title: The Crossings Date of Service: Spring 2011 Client Scope of Work Deliverables Name: Michael Kelly Commercial Market Analysis Demographic Analysis Development Layout Planning Residual Land Valuation Case Studies & Best Practices Market -driven development strategy used to secure Master Developer interest in the project. Title: Manager Real Estate & Land Dev. Employer: City of Lethbridge, AB, Canada Phone: 403-320-3194 Email: michael.kelly@lethbridge.ca Client Scope of Work Date of Service: Summer 2011 Deliverables Name: Dana Kripki Commercial Market Analysis Industrial Market Analysis Policy & Zoning Analysis Demographic Analysis Case Studies & Best Practices Report that determined theoptimal amount and allocation of retail, office and employment uses throughout Saskatandzonoon rthenemmenxt 20 ati Policy and zoning recommendations were aIs vi cled. Title: Senior Planner Employer: City of Saskatoon, SK, Canada Phone: 306-975-1432 Email: dana.kripki@saskatoon.ca Southlake Texas Retail Analysis MXD13-53 Page 32 December 131h, 2013 0 141L 'I Vl�V DEVELOPMENT STRATEGISTS APPENDIX QUALIFICATIONS X BM DEVELOP ENT STRATEGISTS MARKET-DRIVEN DEVELOPMENT STRATEGIES Suite 200— 11120 Horseshoe Way Richmond, Vancouver, B.C. Canada, V7A SH7 www.MXDdevelopment.com Tel +1-604-272-6937 Fax +1-604-272-6934 info@MXDdevelopment.com AREAS OF SPECIALIZATION Mixed -Use Development Planning Retail Planning & Merchandise Mix Allocation Market Analysis Market Research Financial Analysis Economic Development Economic Impact Analysis Urban Planning & Revitalization Place Creation & Implementation International Real Estate Development Trends Due Diligence Acquisition Studies Marketing Branding & Identity Economic Cluster Analysis Airport Cities & Aerotropoli Planning Airport, Seaport, Rail & Transit Planning �iViXV DEVELOPMENT STRATEGISTS MXD DEVELOPMENT STRATEGISTS Introduction MXD Development Strategists Ltd is a full service commercial development consulting firm based in Vancouver, B.C. Canada and working in 42 countries around the globe on the master planning, market analysis, economic development and land development of Mixed -Use, Retail, Urban, Resort, TOD, and Commercial Development Projects, as well as Airport Cities and Aerotropoli. The MXD Team is made up of a dynamic group of Development Strategists, Retail Experts, Land Economists, Urban Planners and Real Estate Analysts providing a balance of knowledge, skills and vision shaped by extensive experience and exposure to the latest commercial development trends throughout the world. Our Team Members "Market -Based Approach" and role as "Development Strategists" has been significant in assisting our clients and architectural design teams in rationalizing and defining development programs for evolving optimal development mixes, configurations and designs. MXD's market -driven approach is increasingly necessary in these challenging economic times to ensure the "right -size", "right development mix" and "right phasing" for projects to respond to their market audiences and establish the foundation for leasing strategy. www.MXDdevelopment.com WHAT WE DO Market Analysis & Feasibility Assessment Market Positioning Community Economic Development Economic Development & Impacts Marketing, Branding & Identity Place Creation Trends & Ideas Land -Use Allocation Financial Analysis Development Layout Planning P'qlhL AOV V DEVELOPMENT STRATEGISTS MXD DEVELOPMENT STRATEGISTS Company Profile MXD's Team of Market & Financial Analysts and Development Strategists are well -positioned to: Assess market & strategic land use opportunities Identify the ontimal develODment Droeram Define,th. de a �o� ment implementation strategy Based on a solid foundation of Market Research and Financial Analysis, MXD identifies the development opportunity strategy, positioning and project vision. MXD determines the highest and best use of the site and then works with designers to create seamless three dimensional places that achieve harmony between each project component. MXD's Market -Driven approach provides a platform of information and strategy to promote the opportunity and to attract tenants, investors and partners to 'connect the dots' of the development process. NP e P�8r oe� t yap IN 5� e e , AP G� MXD balances local cultural uniqueness with global trends and innovations to define Real Estate Development. www.MXDdevelopment.com 0 "Po "X0 DEVELOPMENT STRATEGISTS MXD's Urban Retail and Mixed -Use Experience MXD's Senior Team Members have been involved extensively on a number of major Urban Retail and Mixed -Use projects across North America and internationally, including: Downtown Phoenix Market Analysis and Nodal Development Strategy for Copper Square • Toledo, Ohio Urban Mixed -Use Waterfront Redevelopment Area • Reno, Nevada City Center Redevelopment Area Strategy • Houston, Texas West 8 Mixed -Use Redevelopment 3 Petaluma, California Land Use Analysis for Urban Core • City of Oxnard, California Retail Market Analysis & Positioning Strategy • St. Paul, Minnesota Mixed -Use Downtown Waterfront Market Study • Duluth, Minnesota Urban Infill Corridor Study • Lacey, Washington Suburban Town Center/T.O.D. Market Study • Sacramento, California Sacramento Railyard Lands Mixed -Use Development • Denver, Colorado Riverfront Park Development Strategy, LODO • Fort Collins, Colorado Urban Mixed -Use Redevelopment • San Francisco, California Candlestick Park, Sports -Oriented Mixed -Use Dev. Strategy q San Francisco, California Treasure Island Mixed -Use Development Strategy 4 Seattle, Washington Urban Ferry Terminal Redevelopment Strategy - West Valley City, Utah City Center Redevelopment Area Strategy • Salt Lake City, Utah Main Street Market Analysis & Enhancement Study 3 City of Holladay, Utah Market Study and Master Plan • Draper, Utah Point West Urban Redevelopment Project 3 Ogden, Utah Downtown Structure Study • Downtown Ogden, Utah Wall Avenue Corridor Study • Victoria, BC Uptown Mall Redevelopment & Intensification Strategy • Whistler, BC Sustainable Retail Strategy & Nodal Positioning Strategy 3 Montreal, Quebec Quartier Viger Urban Redevelopment Area www.MXDdevelopment.com DOWNTOWN PHOENIX MXD Team Members provided consultancy services for the strategic redevelopment of Copper Square, the heart of Downtown Phoenix. Future light rail connections and a new Downtown University campus provided the impetus for higher density, mixed -use and transit -oriented urban redevelopment and densification. The study involved all forms of land use but with an emphasis on retail development opportunities. TOLEDO WATERFRONT MXD prepared a "market -driven" strategy for re - energizing Toledo's Marina District, a brownfield site located directly across the river from Downtown Toledo. Analysis and implementation strategies were provided for Residential, Retail, Hotel, Office and Destination Attractions. DOWNTOWN RENO MXD provided ongoing consultancy services for the redevelopment of a major area within Downtown Reno. Services included a detailed analysis of Retail and Destination Attractions in the area, forecasting of Tourism expenditure within the development area, input on Urban Design aspects of the development, and implementation strategies. DENVER — LODO DISTRICT MXD was involved in the Riverfront Park master planned area located in Denver's LoDo District, one of the nation's leading examples of successful urban redevelopment. The project involved the intensification of a number of land uses in a mixed -use environment that would best capitalize upon the resurgence of the local area. DOWNTOWN ST. PAUL MXD Team Members were engaged to study the development potential of a 100-acre brownfield development site located across the river from Downtown St. Paul, Minnesota. The project included a Feasibility Study of a major Mixed -Use development project including Retail, Residential, Office, Destination Attractions and Hotel components. The project had a number of complex urban redevelopment issues including environmental, social and economic factors. I'q%L Aor u DEVELOPMENT STRATEGISTS www.MXDdevelopment.com } l pm.'0�0r�% f DEVELOPMENT STRATEGISTS MXD DEVELOPMENT STRATEGISTS Portfolio: North America The Star at Cowboys Stadium Arlington, Texas MXD prepared a vertical mixed -use commercial development strategy for this very strategic property located directly adjacent to the new Dallas Cowboys Stadium in Arlington, Texas. The development program involved places to work, shop, play and stay leveraging the various economic clusters associated with professional and amateur sports, health and well-being, as well as media and brand awareness. Services: Vertical Mixed -Use Development, Finance and Marketing Strategy Client: TC Real Estate West 8 Houston, Texas MXD performed a complete market study and financial analysis for a mixed -use development in West Houston. Land uses under study included office, retail, hotel and medical. MXD was later retained by the developer to undertake marketing and tenant prospecting strategies. Services: Market Study & Financial Analysis Client: Richfield Investment Corp. www.MXDdevelopment.com 1A NIL V ice` L.-I) DEVELOPMENT STRATEGISTS MXD DEVELOPMENT STRATEGISTS Portfolio: North America Coconut Creek MainStreet District Coconut Creek, Florida MXD Development Strategists was retained by the City of Coconut Creek to perform a Market Analysis and Development Strategy for an undeveloped portion of land that would create a Main Street and mixed -use Town Center. Land uses under study included retail, office and residential. MXD also studied and calculated the potential tax revenue that would be the result of the planned development program. Services: Main Street Mixed -Use Dev't Strategy Client: City of Coconut Creek Candlestick Point San Francisco, California MXD was retained to perform a Retail Market Study for a mixed -use redevelopment site at Candlestick Point in San Francisco. MXD also performed a Financial Analysis for the development upon the completion of the market study which assisted in attracting developer interest as well as the potential for joint -venture partnerships. Services: Retail Market Study Client: Lennar Urban www.MXDdevelopment.com } i 0'apd M "60 . LJ DEVELOPMENT STRATEGISTS MXD DEVELOPMENT STRATEGISTS Portfolio: North America RGDC Mixed -Use Development Bellevue, Washington MXD Development Strategists was retained by the Rockefeller Group Development Corporation to perform a retail and office market analysis for a proposed mixed -use development in downtown Bellevue, Washington. MXD also completed a Merchandising Strategy and Conceptual Layout Program for the 5.48 acre development site that will total at least 1.7 million square feet of space. With a focus towards retail, MXD analyzed the retail opportunities and identified the optimal program size that would ensure that the development becomes an attractive and profitable place that a variety of people visit throughout the day. Services: Retail Consulting Services Client: Rockefeller Group Development Corp. Telfair Sugar Land, Texas MXD was retained by Newland Communities to perform a Retail Market Study for a commercial mixed -use Town Center in the 2,000 acre Telfair master planned community located just outside Houston, Texas. MXD analyzed the current supply of the surrounding market j and projected future commercial demand for Telfair, as } well as the position, retail mix and potential target markets. Services: Retail Market Study Client: Newland Communities www.MXDdevelopment.com MXV DEVELOPMENT STRATEGISTS MXD DEVELOPMENT STRATEGISTS Portfolio: North America West Valley City Center West Valley, Utah MXD Development Strategists provided consultancy services through a market -driven report for the strategic redevelopment of West Valley City Center. This multi - modal, mixed -use project integrates core city center land uses such as residential, retail, office, hotel and civic functions. This Transit -Oriented Development (TOD), once complete, will become a hub for West Valley, where office employees, shoppers and residents are able to interact in a seamless environment. MXD's study was based off of a multifaceted market analysis that provided a clear phasing strategy on how the redevelopment should be implemented over time. This study was used as the pre -cursor and base for an overall master plan strategy Services: City Center Redevelopment Strategy Client: West Valley City Baxter Meadows Bozeman, Montana MXD was retained to perform a Commercial Town Center Master Plan and Retail Tenant Mix Strategy for a 450 acre site in the resort community of Bozeman, Montana at Yellowstone Park. The Master Plan incorporates residential neighborhoods and approximately 150 acres of open space with 130 acres zoned for commercial use. MXD also conducted a financial return analysis to establish a basis for potential joint venture investment. Services: Retail Mix Strategy & Master Plan Client: Baxter Meadows Development www.MXDdevelopment.com 'Id iVIXV DEVELOPMENT STRATEGISTS MXD DEVELOPMENT STRATEGISTS Portfolio: North America Lacey Gateway Lacey, Washington MXD conducted a Retail Analysis and Master Plan Development for a 700 acre site south of Seattle, Washington featuring 1.2 million square feet of retail, food & beverage and entertainment functions. This open-air project will be oriented around a main street town square, which will be complemented by a performing arts center, library, health & wellness facilities, public market and community amenities. A 185,000 square foot Cabelas Outdoor Recreation World will be the feature anchor. MXD also prepared Marketing Documents for distribution at ICSC Las Vegas to prospective tenant interests and developers. Services: Retail Analysis & Master Plan Dev. Client: Triway Enterprises Miller Hill - Central Entrance Duluth, Minnesota MXD was retained to conduct a Market Analysis for the city of Duluth, to target redevelopment sites along Miller Hill - Central Entrance Corridor for a variety of land uses. MXD provided strategic input on the long-term planning vision of the area with a focus on potential economic impacts and strategies to introduce a multi -purpose, pedestrian -friendly, social vitality currently lacking in this area. Services: Corridor Market Study Client: The City of Duluth www.MXDdevelopment.com gpoMXV DEVELOPMENT STRATEGISTS MXD DEVELOPMENT STRATEGISTS Portfolio: North America Tessera Reno, Nevada Reno, Nevada for Northern Nevada Development LLC MXD was retained to provide strategic input on a Mixed - Use Retail, Commercial, Residential and Hotel development strategy in Downtown Reno, Nevada for Millennium Holdings LLC/Northern Nevada Development LLC. The project will be anchored by 650,000 square feet of major entertainment facilities, destination restaurants and lifestyle fashion as well as up to 3,000 residential units and two hotels. Services: Development Strategy Client: Northern Nevada Development LLC Estrella Mountain Ranch Phoenix, Arizona MXD was retained by Newland Communities to conduct a comprehensive Market Analysis and Development Strategy for the future mixed -use Community 14 Core and North Community Service Core. The objective of this assignment was to plan a socially immersive "place" that features a diverse range of land uses within a small development parcel. MXD subsequently worked with Newland to develop a commercial strategy for the entire resort as it grows towards a future build -out of up to 80,000 homes. Services: Market Analysis & Development Strategy Client: Newland Communities www.MXDdevelopment.com 0"PA M. 144 DEVELOPMENT STRATEGISTS MXD DEVELOPMENT STRATEGISTS Portfolio: North America Village at Sunriver Bend, Oregon MXD was retained to conduct a Development Assessment, Traffic Impact Assessment and Master Plan for the redevelopment of the former Sunriver Village Mall into a comprehensive mixed -use destination resort, featuring 12S,000 square feet of retail, fractional and full time residential units and a destination resort lodge hotel. Specific attention was paid to the affordability of housing types that would appeal to a diverse number of target markets that are attracted to this region. Services: Redevelopment Master Plan Strategy Client: SilverStar Destinations LLC Project Viger Montreal, Quebec Located in the Old Town Montreal Historic District, MXD was retained to conduct a retail merchandising strategy and programmatic casting for the various shopping and dining districts that will shape and hold together this authentic urban mixed -use village. Working alongside the design architects, an overall theme of the project was to blend the old with the new and to celebrate the best of Montreal as manifest through culinary discovery, unique specialty retail and International flare. Services: Market Analysis & Development Strategy Client: Hines Development & Hambourg 91" www.MXDdevelopment.com �iVIxV DEVELOPMENT STRATEGISTS MXD DEVELOPMENT STRATEGISTS Portfolio: North America Eau Claire Calgary, Alberta MXD was retained to provide strategic input outlining the market opportunity and feasibility for a major mixed -use redevelopment located in the heart of Downtown Calgary adjacent to the Bow River. The project will redevelop the existing single -purpose Eau Claire market and transform it into a vibrant multi -purpose, mixed -use project comprised of four residential towers, offices and a hotel rising above a retail podium. Services: Market Opportunity & Feasibility Assessment Client: Harvard Developments Inc. City of Spruce Grove Spruce Grove, Alberta With recent developments in the region and the immediate area, the rapidly growing City of Spruce Grove retained MXD to conduct a Retail Gap Analysis Study. MXD quantified the Spruce Grove Retail Market and measured the mix of inventory against the calculated trade area expenditure profile. This process enabled MXD to identify opportunities or gaps in Spruce Grove's retail inventory which could be provided in future developments to complete the retail mix and sustain the City's expenditure leakage. As part of the study, a high level consumer intercept survey was conducted to provide further validity to the Gap Analysis' results and to ensure recommended strategies targeted specific tenants desired by the consumers. This study will be the driving force for the City of Spruce Grove's retail development strategies, while also providing an important tool to attract desired retail tenants to new developments. Services: Retail Gap Analysis Client: City of Spruce Grove GROVE wwwNXDdevelopment.com mmmO00% [�A M,100� DEVELOPMENT STRATEGISTS MXD DEVELOPMENT STRATEGISTS Portfolio: North America �4 Currents of Windermere Edmonton, Alberta MXD was actively involved in the merchandise layout planning and marketing of this 100 acre mixed use commercial development, located in the affluent suburban community of Windermere in Southwest Edmonton. The Currents is part of a total land assembly of over 650 acres with more than 500 acres of residential development now under construction. At completion a total of 1.1 million square feet of retail with 100,000 square feet of office space, 300 multi -family residential units and a boutique hotel. Services: Merchandise Layout Plan & Marketing Client: Windermere Commercial Lands Ltd Gateway Town Center Spruce Grove, Alberta MXD was retained by the City of Spruce to conduct a Market Analysis for the 100-acre Gateway Town Center site (Special Study Area) along Highway 16; the major highway connecting Edmonton to Jasper Resort in the Canadian Rocky Mountains. The Market Analysis objectively quantified the feasible magnitude of retail, office and residential supply and demand along with a potential phasing schedule. MXD also conducted a full Economic Impact Assessment of the project assessing the direct, indirect and induced benefits for both construction and post -construction stages of the project. MXD worked closely with the City's Economic Development Department in creating the Gateway Town Center development strategy. Services: Market Study, Economic Impact Assessment & Development Strategy Client: City of Spruce Grove FAMMAMMLAAWAV W �rwr.• ■ �rrr Q7YCF&W"&W IIBI www.MXDdevelopment.com MXV DEVELOPMENT STRATEGISTS MXD DEVELOPMENT STRATEGISTS Portfolio: North America Lonsdale Quay Market North Vancouver, British Columbia MXD was retained to conduct an Enhancement & Positioning Strategy for Quay Property Management's Lonsdale Quay Market (LQM). The study comprised of a market analysis, site assessment, inventory and performance analysis along with lease agreement assessments. Also part of the study, was a high level consumer intercept survey, conducted to provide further validity to the results and to ensure recommended strategies targeted specific desires and consumer spending habits. The Merchandise Mix and Layout Plans along with recommended strategies will provide the necessary strategies to address an consistently underperforming second level. Services: Enhancement & Positioning Strategy Client: Quay Property Management The Crossings Lethbridge, Alberta MXD was retained by the City of Lethbridge to conduct a Market Analysis of Retail, Office, Hotel and Multi -Family Residential for approximately 50-acres of land in the rapidly growing West Side of Lethbridge near the University of Lethbridge. Additionally, MXD provided a Residual Land Value Financial Analysis on a parcel -by -parcel basis using the optimal land allocation and land use programming mix as a foundation. MXD's resulting Development Strategy is being used to secure Master Developer interest in the project. Services: Market Analysis, Development Layout Planning & Residual Land Valuation Client: City of Lethbridge www.MXDdevelopment.com t �Mxv DEVELOPMENT STRATEGISTS 3 MXD DEVELOPMENT STRATEGISTS Portfolio: North America Grasslands Regina, Saskatchewan MXD was retained to conduct a market analysis and merchandise layout strategy for a new 900,000 square foot mixed -use lifestyle development in the emerging Southwest sector of Regina, along the Trans -Canada Highway. This assignment also included conducting a Retail Impact Assessment to assess the magnitude of impact on the city-wide retail sector and to ensure that the project size would be supportable and economically feasible. A final stage of this comprehensive strategy was to provide statistical data in a Marketing Summary Document for use in promotional material at ICSC Conferences. Services: Market Analysis & Merchandise Layout Client: Harvard Developments Inc. Hawkstone Regina, Saskatchewan MXD was retained by the City of Regina to conduct a comprehensive market analysis of Retail, Office, Light Industrial and Hotel Land Uses for the creation of a Multi and Mixed -Use Development Strategy for approximately 200 acres of land. The process by MXD created the vision, land allocation, phasing and parcelization strategy so the City could sell parcels off for development. Subsequently, MXD worked with the City in preparing a Marketing Summary and RFQ document to secure multiple developer interest in the various parcels. Services: Market Analysis & Development Strategy Client: City of Regina LEGEND M. Retail acon roan 'aeon,.;. Office Ndm Soak Hotel A—°'°Wp"O"" HighSUee1 5nbpd to Gna'ge Pw—d by MF Residenllal �MIIINKIlO = Green hl In FleyJLGreen 2.66 k. www.MXDdevelopment.com V L#> V DEVELOPMENT STRATEGISTS MXD DEVELOPMENT STRATEGISTS Portfolio: North America Saskatoon Commercial & Industrial Lands & Employment Strategy Saskatoon, Saskatchewan MXD has been retained by the City of Saskatoon to conduct a comprehensive market assessment of the future buildout capacity land requirements. The City is rapidly expanding and is in need of determining the optimal amount and allocation of retail, office, industrial and hotel uses throughout the City and on a Suburban Development Area (SDA) basis. MXD will also be providing Policy recommendations pertaining to Best Practices and Zoning Policies as the City works toward implementing new development formats. Services: Market Analysis & Future Land Allocation Client: City of Saskatoon Preston Crossing Saskatoon, Saskatchewan MXD was retained by Harvard Developments to conduct a detailed Retail Impact Assessment for Phases 2, 3 & 4 of the Preston Crossing Development. The purpose of the study was to determine the magnitude of impact based on the proposed new development program/tenants and to identify when retail sales at competing locations could reasonably be expected to recover, if impacted. The most recent impact assessment for Phase 4 was to determine the impact on existing retailers in the City if a large format Outdoor Sporting Goods retailer — Cabela's were to enter the market. Services: Retail Impact Assessment Client: Harvard Developments wwwWXDdevelopment.com