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The Project in Summary

GreenWinds Triangle Identity and Innovation for MIT and Beyond Alexander Knapp, Tyson Dirksen, Matthew Flowers, Junghun Choi. The Project in Summary. 1. Iconic Sustainability The Neighborhood’s Identity a Key Program Elements MIT Energy Center MIT Live Arts Great Public Spaces

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The Project in Summary

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  1. GreenWinds TriangleIdentity and Innovation for MIT and BeyondAlexander Knapp, Tyson Dirksen, Matthew Flowers, Junghun Choi

  2. The Project in Summary 1 • Iconic Sustainability • The Neighborhood’s Identity • a • Key Program Elements • MIT Energy Center • MIT Live Arts • Great Public Spaces • The Breezeway • Live Arts Plaza • East Circle 2 3

  3. Iconic Sustainability • Provides a Distinctive Identity • “Shouts” Sustainability • Raises Awareness of Climate Change • Sustainability becomes the Brand • Showcases MIT’s Technical Ingenuity • Create Lasting Value for MIT and the Wider Community through Placemaking

  4. The MIT Energy Center • On-site Cogeneration Facility • MIT Energy Initiative Research Lab & Testing Facility • Community Outreach and Education Center • Interactive BIPV Façade • Adjacent to Existing Power Plant

  5. MIT Live Arts and Live Arts Plaza An Entertainment Destination • Large Multi-Function Performance Spaces • MIT Radio Station • Open Every Night • Attached Bar and Cafe • Reference : Penn Live

  6. The Breezeway The Front Door for Greenmills Triangle ad • Hotel and Conference Center • Entertainment - Live Arts & Bowling Alley • Cafés, Restaurants & Bars • Student Oriented Shopping

  7. East Circle – The Office Center A Research Destination asdfadsf • Three Major Lab/Office Buildings • The MIT Energy Center • East Node of the Central Spine • Access through to the MIT Campus

  8. Program

  9. Phasing Phase One Phase Two Phase Three Phase One

  10. Financial Proposal Key Assumptions • Cap Rate – 6% • Opportunity Cost of Capital – 8% • 10% Green Premium on Construction Costs Financial Feasibility Analysis

  11. Deal Structure Partnership • Joint Venture between MIT IMCo and Flowappsen LLC 8 • Total Development Costs (Including Land) of $2,215M s • MIT to IMCo contribute land equity of $350M a • Developer to contribute/raise additional equity $310M Benefit to MIT • Strong Green & High-Tech Image of MIT • s • Over 53% Equity Ownership • s • Stabilized NOI of Approximately $118M per Year d

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