Lease Information Package

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1 Lease Information Package Jefferson School Community Partnership, LLLP P.O. Box 19 Charlottesville, VA Contact: Jennifer Hines Arrington Project Manager Stonehaus, LLC (434)

2 Table of Contents Project Highlights Project Background Mission Potential Uses Project Information Improvement Guidelines Base Finish Specifications Site Plan Building Plans / Available Space First Floor Enlarged Second Floor Enlarged Conceptual Tenant Improvement Building Elevations & Sections Sample Letter of Intent

3 Project Highlights Welcome to Jefferson School City Center! Conveniently located in the Starr Hill area within blocks of Charlottesville s Downtown Mall, the University of Virginia, U.S. Courts and county buildings, the City Center will offer vibrant, progressive, renewed office space for your business. Recognized as a National Historic Landmark, Jefferson School City Center will retain the historical features and character of this former African American school, but also include state of the art upgrades including energy conservation and efficiency systems, hi-speed internet cabling, access control systems, elevators and park-like grounds. The City Center is a pedestrian friendly site, and will also offer convenient on-site parking with most spaces available in a newly built 2-level parking deck. The City Center has two (2) anchor tenants committed to serving the community: The Jefferson School African American Heritage Center will honor the history of the school and its alumni from 1894 to 1958 through its redesign of museum-quality exhibition space and offering of programs in the arts, dance, language, and computer science. The City s Carver Recreation Center will remain and its space revitalized. This information package is intended to familiarize prospective tenants with the project and provide preliminary information necessary for you to evaluate this great opportunity, reserve space by executing a letter of intent, and place a deposit with the Jefferson School Partnership s escrow agent. 3

4 Project Background In 2007 the City of Charlottesville furthered its commitment to the renovation and redevelopment of Jefferson School, 233 Fourth Street, NW, by appointing a group of local citizens to form a private partnership to undertake the redevelopment in a manner consistent with recommendations of the Jefferson School Task Force. Those recommendations are captured in the mission statement of the Jefferson School Community Partnership (see page 6). To further the cause, City Council granted a purchase option to the new partnership and agreed to provide $5,800,000 in equity funding for the project. Since September 2007, the Partnership has worked diligently to evaluate the feasibility of the project. Six qualified consultants were hired to assist in the effort: Bushman Dreyfus Architects Siteworks Landscape Architecture & Civil Engineering 2RW Mechanical Engineers Riggs Ward Heritage Center / Museum Design CCI Construction Cost Estimators Kjellstrom & Lee Construction Company PreConstruction Services 4

5 Project Background The consultants, together with the Partnership, studied existing conditions, developed schematic plans for both site and building, developed preliminary cost estimates, created financial models for development and operation of the property, and solicited interest from selected local tenant prospects. Based on the findings of this feasibility phase, the Partners are preparing to move forward with the acquisition and development of the project with the expectation that it could be completed and ready for occupancy by The partners are committed to fulfilling their mission and attracting the right tenants to the project is our highest priority. 5

6 Mission The Mission of the Jefferson School Community Partnership is that The Jefferson School City Center will be a vibrant educational/recreational/community resource center anchored by the Jefferson School African American Heritage Center and the Carver Recreation Center. It will honor the history of African Americans in Charlottesville and draw people of all ages throughout the entire community to a variety of educational, cultural, social and recreational services and resources, and ensure that Jefferson School will play a vital civic and educational role for local citizens and visitors for generations to come. Physical Rebirth Jefferson School City Center will be fully restored according to the Secretary of the Interior s guidelines for historic preservation, conserving the major historical features of the school, while accommodating a range of new tenants and activities. The Jefferson School City Center site will be developed in ways that create an attractive landscape setting for the building and serve parking and other practical needs, while respecting important archaeological resources. The facility will be easily accessible to pedestrians as well as those traveling by car and public transportation, and integrated into the physical fabric of the City. 6

7 Potential Uses Life Inside the City Center Jefferson School City Center will be a dynamic structure in the heart of downtown Charlottesville, honoring and building upon the school s history as the premier educational and social center for generations of African Americans in Charlottesville, Virginia. The City Center will house the Jefferson School African American Heritage Center that will tell the story of Jefferson School and illuminate other aspects of the African American experience in our community and beyond. The City Center will remain home to the city s Carver Recreation Center, which will be fully renovated as a vibrant recreational center offering a rich array of recreational, health and fitness related activities for citizens in surrounding neighborhoods and throughout the city. The City Center will be home to a variety of other tenants offering a range of educational, social, service and recreational activities for the community. The vision is to have these tenants serve diverse, multi-generational audiences and offer programs that compliment each other and the activities of the African American Heritage Center and Carver Recreation Center. Complementary uses include the following: Education Learning/Tutoring Centers Computer Labs Language Schools Music Instruction Existing Private Schools Cosmetology School Bookstore 7

8 Potential Uses Arts Art Gallery Photography Studio/Gallery Dance or theater groups (not in competition with Heritage Center) Artist workspace Architecture/design groups Health/Human Services Vision Care Center Dentist Clinic/doctor Therapists Pregnancy Counseling Marriage, family divorce counseling Adoption Services Nursing Agency Piedmont CASA (Court Appointed Special Advocates) Alcoholics Anonymous Weight Watchers Personal Trainers Business/Employment Services Employment Agency Temporary Staffing Agency Business Consultants SCORE Other Foundations Affordable Housing Groups 8

9 Project Information Financial Sustainability The Jefferson School City Center restoration will be carried out in ways that minimize costs, while remaining true to the core values and mission of the partnership. All tenants, including the Heritage Center and Carver Recreation Center will pay their fair shared of the costs for the space allocated to their use. Initial rent charged to tenants will be based on funds needed to pay down the debt incurred during restoration and the ongoing operation, maintenance and management costs associated with the facility. In many cases, we expect the rents to be below market rates. The Jefferson School Heritage Foundation will be established as a private non-profit organization with its own governing Board responsible for raising the funds necessary to create and sustain the Jefferson School African American Heritage Center and its activities and to support other activities designed to make Jefferson School City Center a vibrant civic destination. During the development phase of the project, efforts will be made by the partnership, the Foundation and tenants to secure additional public and private support to underwrite the restoration costs for the Jefferson School City Center enabling rents to be as low as possible. Day-to-Day Management The Jefferson School Community Partnership will retain a professional facility management team. They will be responsible for efficient and fiscal management of the facility, meeting the needs of tenants and visitors, and ensuring the long-term viability of the City Center as a premier civic institution in our community. 9

10 Project Information Location Site Area Total Building Area Convenient On-Site Parking 233 Fourth Street, NW Charlottesville, Virginia acres 74,546 square feet Surface parking in front and rear. A new 2-level parking deck with 108 spaces at the north end of the property will be added. Total spaces = 149. Parking will be allocated but not reserved. Specific allocations will be determined based on occupancy times, available supply and need. 10

11 Project Information Committed Tenant Spaces: Carver Recreation Center African American Heritage Center Space Available for Lease Estimated Rental Rate/S.F. 20,949 square feet 9,368 square feet plus 26,089 square feet $13 per square foot Monthly Utilities & CAM fees (Charged in addition to rent. Typical office tenant electricity, heat, common janitorial, grounds, common area utilities, maintenance, supplies, insurance, taxes, management.) $6 per square foot Upfit Allowance Minimum Lease Term $12 per square foot; see Base Finish Specifications; additional costs/work above this allowance is borne by Tenant. 3 years 11

12 Improvement Guidelines Virginia Department of Historic Resources Considering Jefferson School is a national and state historic landmark, all renovation/restoration work will be done in accordance with The Secretary of Interior s Standards for Rehabilitation. The project will consult with a historic preservation architect to ensure that the renovation meets this requirement. In such, the renovation will retain and preserve the historic character of the school, and removal of historic materials or alternation of features and spaces that characterize the school shall be avoided. For instance, if the space currently has a wood floor or historic terra cotta tile, then it would be preserved or replaced to match. Conversely, if a desired lease space currently has carpet, tile or concrete floor, upon renovation that floor can be recovered. The project must also preserve distinctive features, finishes, and construction techniques or examples of craftsmanship that characterize the school. For instance, all windows can only be repaired and repainted or replicated as necessary. Upon site visit and indication of desired lease space, efforts will be made in earnest to work with the Tenant to meet their improvement needs. Please see the conceptual space plan that is included on page

13 Base Finish Specifications Interior Leaseable Area Tenant Improvement Allowance The Jefferson School renovation will include a Tenant Improvement Allowance of $12.00 per square foot for each Tenant. This allowance makes up a base finish of the interior leaseable area. The base finish specification provides the following finishes: acoustical tile or plaster ceilings VCT tile or carpet on the floors white paint for walls and trim basic electrical service and lighting one data port per existing room HVAC distribution for each existing room Finishes in excess of $12.00 per square foot or larger in scope than the above would be borne by the Tenant. The Partnership will be considering assisting tenants with their upfit costs by amortizing their additional TI costs on a monthly basis during the term of the tenant s lease. 13

14 Site Plan 14

15 Building Plans Purple space = Available 15

16 First Floor Enlarged Purple space = Available 16

17 Second Floor Enlarged Purple space = Available 17

18 Conceptual Tenant Improvement 18

19 Elevations / Sections 19

20 Sample Letter of Intent 20

21 Sample Letter of Intent 21

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