The Wednesday Group...design and is out of touch with what today’s renters actually seek. The “Millennials” in today’s renting environment tend to seek a deeper connection

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I n v e s t o r P r e s e n t a t i o nC o d e N a m e : T h e N o l i t a B u i l d i n g

T h e W e d n e s d ay G r o u p

D E V E L O P M E N T C O M P A N Y

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Contents

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Introduction

The Problem

The Solution

The Opportunity

Proposed Renderings

Floor Plans

Financial Snapshots

Behind the Group

Contact

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The following is a proposal to

create a new, mixed use multi-

family development based on

the classic Italianate style at

the corners of E. New York and

Hudson St., Indianapolis, IN.

TheWednesdayGroup DevelopmentCompany

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4

ThePROBLEM

Real Estate Development is an optimization problem: how to build the most

cost effective structure while charging the highest amount in rent. Developers

today solve this equation by finding and adding:

+ Cost effective materials, such as cement board paneling

+ Modern amenities to attract Millennials

= Higher net operating income

While materials such as cement board help reduce costs, and modern amenities

attribute to the ability to charge higher rents, modern architecture has lost sight on

design and is out of touch with what today’s renters actually seek. The “Millennials”

in today’s renting environment tend to seek a deeper connection to everything

in their lives—from their possessions, to their jobs, to their places of residence.

These young professionals often find the “cookie cutter” developments to be

uninspiring, sterile, and unoriginal.

With all that we have gained in modern builds and amenities, we have equally

sacrificed in design. The lack of visible conceptual originality is where The

Wednesday Group comes in. We recognize that the current approach to

development is both profitable and practical; however, we at The Wednesday

Group want to add an element of uniqueness that inspires residents and makes

them feel at home.

Today’s developments are missing something that The Wednesday Group will bring to the table.

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TheSOLUTION

The Wednesday Group addresses the optimization problem in modern

developments in a unique, affordable, and creative way; by looking to the past

for inspiration.

This is how: it is now possible to utilize architectural blueprints for buildings

designed in the late 1800’s-early 1900’s, as these are now public domain. Anyone

can use these designs, free of charge. At the Wednesday Group, this means

modern buildings can be built with beautiful historic facades—all at a fraction

of cost.

By employing these existing blueprints, we save countless hours that would

have been spent in designing, planning, and seeking approvals within the city.

Consequently, we significantly reduce architectural costs. The historic facade

acts to enhance the cultural fabric and aesthetic beauty of Indianapolis, while

delivering a higher perception of value to the renter.

The modern luxuries today’s renter has come to expect will be found in the

interior of our buildings. Amenities such as a rooftop deck, gym, and recreation

area will not go unnoticed.

Developing the future, while remembering the past.

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TheOPPORTUNITY

This project is a replicant development of the Italianate apartment buildings that

you will find in old neighborhoods of most major cities. This style of building pays

homage to designs of the late 1800’s and early 1900’s; as such, there will be a

historic facade on the exterior of the building coupled with modern, updated

interiors. Here we are able to recover the beauty of the past in a modern and

exciting way.

The building is poised to be centrally located in downtown Indianapolis, adjacent to

the Massachusetts Avenue corridor. Our development would not only complement

existing entertainment in the area but also attract new, in-demand restaurants,

shops, bars, and other bespoke businesses.

This development proposal in its entirety is for sale at a price of $100,000, which

includes all intellectual property including the concept and designs. In addition,

the purchase price also includes The Wednesday Group’s guidance and advisory

to help facilitate concept to construction.

Be part of a development that is poised to impact both the cultural fabric of the city as

well as drive economic growth.

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External View

Level 324' - 0"

Level 436' - 0"

Level 548' - 0"

Level 660' - 0"

Level 772' - 0"

Level 884' - 0"

Level 996' - 0"

Level 10108' - 0"

Level 11120' - 0"

Level 12132' - 0"

Scale

Project number

Date

Drawn by

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ConsultantAddressAddressPhoneFaxe-mail





A-301

E. NEW YORKSTREET ELEVATION

219 E. NEW YORK STREET,INDIANAPOLIS, IN

GROUP

No. Description7 ISSUED FOR DESIGN DEVELOPMENT

80%8 ISSUED FOR REVIEW

1/8" = 1'-0"1 FRONT ELEVATION

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Highlights of the building include 6 stories above ground and a cellar. Ground Floor is commercial with 5 residential floors above.

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Hudson Street Elevation

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Level 324' - 0"

Level 436' - 0"

Level 548' - 0"

Level 660' - 0"

Level 772' - 0"

Level 884' - 0"

Scale

Project number

Date

Drawn by

Checked by






A-302

HUDSON STREETELEVATION


GROUP

No. Description8 ISSUED FOR REVIEW

1/8" = 1'-0"1 SIDE ELEVATION

The building includes 2 separate commercial spaces and a private entrance/lobby for the residents. The entrance to the residential is located on Hudson Street.

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Ground Floor Retail UP

3264 SFRETAIL 1

2952 SFRETAIL 2

740 SFLOBBY

98 SF

ELEVATOR MACHINEROOM

Scale

Project number

Date

Drawn by

Checked by






1/8" = 1'-0"

6/16

/201

9 5:

28:0

3 PM

A-305

1ST LEVEL AREAPLAN

1901


THE WEDNESDAYGROUP

02/04/2019Author

Checker

No. Description Date

1/8" = 1'-0"1 1ST LEVEL

The first floor will consist of two retail spaces, one with frontage to New York Street and one with frontage to Hudson street. It is possible to combine both retail spaces into one large retail space if needed. Private residentiallobby includes stairwell and elevator access.

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Ground Floor Lobby

A view inside the Lobby.

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2nd - 6th Floor Elevation

11

DN

836 SFAPT. 202

836 SFAPT. 203

615 SFAPT. 204

426 SFAPT. 201

532 SFAPT. 205

619 SFAPT. 206

776 SFAPT. 207

775 SFAPT. 208

618 SFAPT. 209

426 SFAPT. 210

602

SFH

ALLW

AY 2

00

Scale

Project number

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Drawn by

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1/8" = 1'-0"

6/16

/201

9 5:

28:0

4 PM

A-306

2ND LEVEL AREAPLAN

1901


THE WEDNESDAYGROUP

02/04/2019Author

Checker

No. Description Date

1/8" = 1'-0"1 2ND LEVEL

All five residential floors will have the same layout. Each floor contains four 2-Bedroom units, five 1-Bedroom Units, and one studio for a total of 10 rooms per floor.

The long wall opposite the stairwell and elevator will house special works of art, creating an art gallery, unique to each floor.

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2 Bedroom Apartment

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A view inside the two bedroom apartment.

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Basement Cellar

13

UP

1136 SF

LOUNGE/ GAMEROOM

5

271 SF

BIKE STORAGE12

986 SF

GYM13

760 SF

MECH. RM.14

Scale

Project numberDateDrawn byChecked by

Client Name:

Project Name:

1/8" = 1'-0"

4/19

/201

9 4:

42:3

3 PM

A-101CELLAR FLOOR PLAN

1901

THE WEDNESDAY GROUP

219 E. NEW YORK STREET, INDIANAPOLIS, IN02/04/2019M.R.-

No. Description Date4 ISSUED FOR REVIEW 01/26/20197 ISSUED FOR DESIGN

DEVELOPMENT 80%03/14/2019

8 ISSUED FOR REVIEW 03/22/20199 ISSUED FOR REVIEW 03/28/2019

Basement includes a lounge room equipped with desk space, a Large TV, and space for bike storage. Additionally, a small gym, which includes treadmills andbikes, are available to residents at no extra charge.

Note that this basement does not extend the entire length of the building and only covers the area beginning from the stairwell extend-ing to the rear of the building.

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Rooftop

DN

130'

- 9

3/8"

49' - 11 11/16"

73' -

9 1

/32"

21' - 3 1/16"

35' - 8 1/4"

2442

SF

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4/19/2019 4:42:34 PM

A-10

4R

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The building’s Rooftop is equipped with a large wooden deck for residents to enjoy.

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Rooftop

The view of the rooftop looking north.

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Site PlanDN

UP

3238

SF

RETA

IL1

2937

SF

RETA

IL 2

3

47' - 7 15/16"

HU

DSO

N S

TREE

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MIAMI STREET

671

SF

LOBB

Y2

E. NEW YORK STREET

N. A

LLEY

265

E

154'

- 7

11/1

6"

49' - 11 11/16"

60' -

8 1

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91' -

7"

A-302 1

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1/8

" = 1

'-0"

4/19/2019 4:46:36 PM

A-10

5

SITE

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The building’s envelope extends as close to Hudson and New York Streets asallowable. The site will include 14 parking spaces for residents torent monthly.

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Top Down Map

The building has easyaccess to the Mass Ave.corridor.

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Rental RevenueSummary

Financial Snap Shots• 50 rentable residential units• 2 rentable retail units • 14 rentable parking spaces

Stage 1a - Rental Revenue Summary

Apartment Unit TypesNo. of Units Rent/Ft2

Area/Unit (ft2) Total Ft2

Rent/Month/Unit

Total Annual

Rent

Apt. 201 Sudio 5 $25.44 426 2,130 $903 $54,187Apt. 210 Jr. 1 Bedroom 5 $25.44 426 2,130 $903 $54,187Apt. 202 & 203 2 Bedroom 10 $23.04 836 8,360 $1,605 $192,614Apt. 204 & 206 & 209 1 Bedroom 15 $22.20 615 9,225 $1,138 $204,795Apt. 205 1 Bedroom 5 $22.80 532 2,660 $1,011 $60,648Apt. 207 & 208 2 Bedroom 10 $23.40 775 7,750 $1,511 $181,350

Total Apartment Rental Revenue 50 $23.18 645 32,255 $7,071 $747,782

Total Retail Rental Revenue (see below) 2 $33.58 3,108 6,216 $17,392 $208,704Other Rental Revenuea

$1,200Parkingb

$6,720Total Rental Revenue 52 $25.07 740 38,471 $24,463 $964,406

Retail TenantsNo. of Units Rent/Ft2

Area/Unit (ft2) Total Ft2

Rent/Month/Unit

Total Annual

Rent

Retail Tenant 1 1 $35.00 3,264 3,264 $9,520 $114,240Retail Tenant 2 1 $32.00 2,952 2,952 $7,872 $94,464

Total Rental Revenue 2 $33.58 3,108 6,216 $17,392 $208,704

aOther Rental Revenue includes additional revenue as a result of conducting daily business activities. Examples of Other Miscellaneous Revenue include late fees and penalties, forfeiture of deposits, and lost key fees. Specific to this case,

bParking for 14 Spaces at $40 per space per month.

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Pro Forma NOI

Stage 1b - Pro Forma NOI

FactorAnnual

Revenue/CostRevenueGross Potential Revenuea $964,406

Less: Vacancy 3.00% ($28,932)Less: Bad Debt 0.50% ($4,822)

Effective Gross Revenue $930,652

Expensesb

Property Management 12.00% of Effective Gross Revenue $111,678Controllable Costsc 1,950$ per unit $97,500Real Estate Taxes 1.36% of estimated total project cost $135,000CAM 0.75% $6,980Other Costs $500 per unit $25,000Insurance $400 per unit $20,000Utilities $500 per unit $25,000Replacement Reserve $150 per unit $7,500Total Expenses $428,658

Net Operating Income $501,994

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Maximum DebtCalculation

Stage 1c - Maximum Debt Calculation

Pro Forma Net Operating Income (NOI) and ValuePro Forma NOIa $501,994Capitalization Rate 5.21%Value of Income Property Only (NOI / Cap Rate) $9,635,192

Loan TermsInterest Rateb 5.00%Amortization (years) 30

Debt Based on Loan to Value (LTV)Maximum LTV Percentageb 75.00%Maximum Loan Based on LTV for Income Property $7,226,394

Using Debt Coverage Ratio (DCR)Monthly NOI 41,833Maximum DCR 1.20Maximum Monthly Payment (NOI/DCR/12) $34,861Maximum Loan Based on DCR for Income Property $6,493,900

Maximum Loan (Lesser of LTV or DCR Result)Maximum Loan for Income Propertyc $6,493,900Add: Loan for For-Sale Property d $0Total Initial Project Debt $6,493,900

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Development Costs

Working financial excel model deliverable upon request.

Gross fTotal

UsableApartmentsand Retail

1 Number of Units 52 52 52 2 Square Footage (Input Gross) 52,566 38,471 38,471 3 Percentage of Total Square Footage 100% 100%

4 Development Costsa

5 Land $30.00 per gross ft2 1,500,000$ 1,500,000$ 6 Land Carryb 3.65% rate 12 months 36,484 36,4847 Approval Fees $1.17 per gross ft2 61,666 61,6668 Environmental Remediation $1.46 per gross ft2 76,787 76,7879 Construction Hard Cost $127.00 per gross ft2 6,675,882 6,675,882

10 Soft Costs:11 Architecture & Engineering & Other 5.06% of hard cost 337,511 337,51112 Legal & Other Related Fees $228,910 estimate 228,910 228,91013 Appraisal & Title $10,883 estimate 10,883 10,88314 Marketing $1,225 per total units 63,700 63,70015 Taxes during Construction $50,000 estimate 50,000 50,00016 Insurance during Construction $19,800 estimate 19,800 19,80017 Total Soft Costs 710,804 710,804

18 Contingency 2.82% of hard cost 188,243 188,24319 Total Development Cost before Interest and Operating Reserve 9,249,866$ 9,249,866$

20 Estimate of Construction Interestc

21 Construction Loan $6,493,90022 Construction Interest 4.25%23 Construction Period (months) 1824 Average Draw 65.00%25 Estimated Construction Loan Interest 269,091 269,09126 Total Project Cost before Operating Reserve 9,518,957$ 9,518,957$

27 Estimate of Operating Reserved

28 Gross Potential Rent (monthly) $80,36729 Lease-Up Period (months until stabilization) 6.030 Average Occupancy during Lease-Up 65%31 Estimated Rent during Lease-Up 313,432 32 Estimated Op. Expenses during Lease-Up 214,329 33 NOI during Lease-Up 99,103 34 Construction Interest during Lease-Up 137,99535 First-Year Operating Reserve Required 38,893 38,89336 Total Project Costs 9,557,850$ 9,557,850$

37 Less: Development Cost Subsidies e (286,735) (286,735)

38 Total Project Costs after Subsidies 9,271,114$ 9,271,114$

Stage 1d - Development Costs

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The Wednesday Group Development Company has set out to deliver top-quality developments that pay homage to the past while maintaining the modern luxuries of the present.

Owner - David Yazell

David has been passionate about real estate development his whole life. He has four years of finance experience, most recently working as a credit analyst on Wall Street. He graduated Indiana University with a degree in Finance and Entrepreneurship. He is hard-working, reliable, and enjoys working face-to-face with colleagues and clients. David is inspired by the beauty of the past and looks forward to bringing these historic structures back to life. David currently resides in New York City.

Lead Designer - Marsha Robinson

Marsha Robinson is an architect that has been steadily working in the Architecture/ Construction industry since 2008. Marsha was born and raised in Mansfield, OH. She studied at Kent State University and received a master’s of architecture with a concentration in urban design, before moving to New York. She works for a mid-Manhattan firm and oversees the production of construction documents for luxury high rise buildings and interior fit-out renovations. In 2017 she was chosen to be one of Commercial Observer’s 20 A.E.C. Pros Under 35 to Watch. Marsha currently resides in New York City.

BehindTHE GROUP

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Wednesdaygroupdevelopment.com | P.O. Box 8072, New York, NY 10150 | 812-569-5260 | [email protected]

T h e W e d n e s d ay G r o u p

D E V E L O P M E N T C O M P A N Y

W

Documents

The Wednesday Group...design and is out of touch with what today’s renters actually seek. The “Millennials” in today’s renting environment tend to seek a deeper connection