ESNA Corp. Realty
[Pages:27]ESNA Corp. Realty
is pleased to present an overview of:
The River GrandTM
A Green Economic Growth Development Project for the State of Michigan Mixed Use Development Mass Transit System Hydrogen Energy Plant
This package contains information that is considered confidential and unique to the success of this project. The information is provided with an understanding of confidentiality to be used expressly for the purposes of evaluating this funding opportunity with ESNA Corp. Realty.
A. The Company
ESNA Corp. Realty (ECR), is a Nevada Corporation formed to develop mixed-use projects involving public-private partnerships to create zones of entertainment, housing, and commerce to create a lively place to work, live, and spend leisure time.
B. Executive Summary
The River GrandTM is a multi-dimensional, comprehensive master plan for the city of Grand Rapids, Michigan. Its economic impact however, will affect the entire state of Michigan. The components of the project include "Green" Mixed-use, Transportation, and Energy infrastructure.
In an effort to create jobs, tax revenues, and strengthen the foundation for a sustainable economy in Grand Rapids and West Michigan, ECR has partnered with industry-leaders in each segment of the development. Each corporate partner, all of whom have impeccable track records in their respective fields, considering the one with the least amount of experience has been in business for 33 years, will execute one aspect of the overall development plan. Each segment of this master-plan development will have a specific business and operations plan that will require independent feasibility.
The current national economic environment, although challenging, has created the opportunity to obtain resources at the federal government level that previously did not exist. As a result of the American Economic Recovery Act, ECR will submit its master planned development for the Build America Bond Program. Considering the present administration's desire to direct resources toward areas in the country in need of: urban housing, transportation, and green energy infrastructure, the River GrandTM is uniquely positioned to achieve these goals in Michigan.
In conclusion, the State of Michigan being a priority of the current administration, is in a position that should be fully realized and manifested. In the past, the State of Michigan with its great industrial history, has led America to vast economic wealth and prosperity. Now at this moment, during one of the country's most challenging times, it will be Michigan that will again spearhead America's economic recovery. The River GrandTM is the tip of that spear.
The River GrandTM
The Project is a large-scale mixed use development in downtown Grand Rapids, Michigan. ECR focuses on developing mixed-use/public private projects that fulfill the following criteria:
Adjacent to a river or body of water Adjacent to a major transportation artery Utilizes under-served property in the region In a public climate that is seeking development efforts to add residential, commercial
entertainment, transportation and green renewable energy infrastructure
Pittsburg, Pennsylvania
Mixed Use Development
ECR plans to purchase 46 acres of currently under-used, mainly industrial property adjacent to the Grand River in the heart of Grand Rapids. Based on a master plan that will include a performing arts theater, a river walk and park area, retail stores, cinemas, restaurants, and parking facilities, all anchored by attractive office and residential space, ECR will develop the infrastructure necessary to re-sell the developed properties and create significant returns on the original capital invested. The City of Grand Rapids, with job growth outpacing the national average is a strong candidate for a mixed-use/public-private development such as the River GrandTM. The area's strong manufacturing jobs base indicates a friendly and receptive climate for business. A probusiness city government seeking to add high-salary jobs to its tax base is a tremendous advantage in creating a development that is attractive to corporate tenants.
ECR's strategic positioning allows it to offer the City an expanded vision of its own land, causing greater tax revenues, job creation, and economic growth for the City and State of Michigan. The program for the development includes:
Condominiums Town-homes Apartments Commercial offices Movie studios Vertical mall 5 star hotel Retail shops
Restaurants Movie theaters 3,000 seating concert venue Marina basin River walk Bike paths Medal of Honor Museum
The City of Grand Rapids, with health care, technology, science & research development outpacing the national average, is a strong candidate for a mixed use/public-private development such as the River GrandTM.
The area's strong college population with 6 colleges and universities in a 3 mile radius of downtown Grand Rapids provides an educated work force for corporations relocating to Grand Rapids. A pro-business state government seeking to add high-salary jobs to its tax base is a tremendous advantage in creating a development that is attractive to new corporate tenants.
The River GrandTM property sits in close proximity to both State Highway 131 and Business Interstate 196, each running through the heart of Grand Rapids. Additionally to the proximity to the Grand River, boating access is also available.
The Wealthy Street bridge across the Grand River forms the southern boundary of the proposed development, adding to the attractiveness of the location and planned riverfront entertainment venues. The City of Grand Rapids is currently experiencing unprecedented growth. With $1.3 billion in construction projects underway or recently completed that include:
Research laboratories Medical complexes Children's hospital Art Museums
Cancer Institute Marriott Hotel Civic Theatre
Development Opportunities
Office Space Opportunity
While office vacancy varies in the various areas that constitute the Grand Rapids Central Business District vary from near the national average to significantly above the average, Grubb & Ellis' report on Grand Rapids' office vacancy rates in and around the City (December 2004) demonstrates the effect that location can have on these vacancy rates.
Successful projects like Canary Wharf in London clearly show that newly constructed office space in an attractive and accessible location can achieve substantially lower vacancy rates than surrounding areas. In Canary Wharf's case, the newly developed area, with ample access to transit and an attractive waterfront as draws for corporate tenants, actually began to draw office leaseholders out of formerly prized space in London's banking district.
Residential Opportunity
The Brookings Institution's recent white paper "Toward a New Metropolis: The Opportunity to Rebuild America," predicts that by 2030, 50% of the "built space" used for office and residential needs will have been constructed after 2000. Additionally, the authors predict that most of this newly build space will be needed for residential purposes.
Coupled with the nationwide trend of affluent suburbanites and families moving back into America's urban centers, these predictions present a strong case for success with the River GrandTM. Successful developments like the Grove in Los Angeles provide strong evidence that residential space can be integrated with retail and office development in a way that is attractive to all three types of tenants. Areas that offer convenient entertainment, accessible transportation arteries and options, and shortened commutes to business centers will attract upwardly mobile home-buyers who are eager for suburban convenience in an urban center.
Leisure Time Opportunity and Entertainment Venue Opportunity
Americans spend more to entertain themselves each year. Professional sports and arts venues continue to increase attendance as new facilities are constructed within urban centers. New and prosperous entertainment zones have grown up around San Francisco's SBC Park and Baltimore's Camden Yards stadium as new venues have increased attendance and provided a vastly increased customer base for local businesses. Spending on arts and entertainment, including cinema, music events, and fine arts performances increases year over year at a rate of around 10%.
The proximity of the River GrandTM to Grand Rapids' Van Andel Arena and to performing arts venues and museums puts the development in a prime location to take advantage of these trends. Creating a convenient and self contained entertainment district allows theatre-goers to choose the River GrandTM, with its ample parking facilities, restaurants, river-front park, over a stand-alone cinema or restaurants. The River GrandTM will offer an entertainment experience instead of simply a movie.
Live entertainment will be featured on a myriad of levels and audiences. Teen, pre-teen, family and adult contemporary live concert and festivals will be held in small, medium and large indoor and outdoor venues. The facilities will be able to accommodate the 3,000 person events; as well as country, jazz or family music festivals. The design, development and operations will be under contract and/or joint-venture with industry leading partners.
The River GrandTM Development Site Map
Mass Transit System
There is no doubt that in 2030, we will live differently. We will be experiencing population and employment growth and new technologies will affect jobs and travel. There will be an increase in gas prices and cost of travel. We will be faced with more congestion and greenhouse gas emissions. And, of course, land use and development will be happening at a more rapid pace in all urban, suburban and rural areas. Will mass transit be more widely accepted for everyday travel?
What Should Our Community Look Like in 2030? NEW GROWTH IN SUBURBAN AREAS
Primary travel mode - auto
"Low" energy costs Status quo land use and urban design
NEW GROWTH CONCENTRATED IN URBAN AREAS
Multi-modal solutions (auto, transit, pedestrian, bicycle) "High" energy costs "Green" developments
The Transit Master Plan will develop a regional transit plan that:
utilizes energy-efficient, sustainable vehicles supports and enhances smart economic growth and land use development meets existing and future travel needs is fiscally responsible
What Should Our Transit System Look Like in 2030? BUS AND GO! BUS
INTRODUCE NEW "PREMIUM" MODES
Focus on transporting "transportation disadvantaged"
Design services to attract new riders
Transit encourages more urban Auto encourages more suburban development development
Transit Master Plan study will:
examine the efficiency and effectiveness of existing services identify and evaluate future mobility needs for diverse populations, including seniors and
people with disabilities include a Transit-Oriented Development (TOD) guidebook to help local jurisdictions plan
for and encourage transit-friendly development identify transit service standards, performance measures, and planning
Source: Rapid Transit Master Plan
Subway System solely powered by Renewable Energy - Bilbao, Spain
The Grand Rapids Metropolitan Statistical Area will benefit immensely from the development of a mass transit system. ECR in conjunction with its corporate partners, Hydrogenics & Boyken/Hill International will build a 55km (34 mile) "looped subway system" that will encompass a 500K population demographic. Considering Grand Rapids already has major infrastructure components such as:
A major airport (Gerald Ford International) Downtown developments (Van Andel Arena, Medical Hill, DeVos Convention Center) Regional malls (Rivertown and Woodlands) Dense population areas (44th & Byron Center. and 44th & Kalamazoo), as well as Colleges and universities A mass transit system will string together these "pearls" which will greatly enhance community continuity and population mobility. Thus, ECR and its corporate partners will introduce to the Grand Rapids Metropolitan Area, an advanced subway system that can be powered by hydrogen. In Charlotte, NC the City Council voted in Sept. 2008 to start design work on a 10 mile street car line. Officials evaluated several streetcar propulsion systems including one based on hydrogen, however due to a bidding war they got into with the city of Greenville, SC with the developer, the project was derailed. Therefore, ECR, Hydrogenics and Boyken/Hill International will research, design, and build the first hydrogen powered subway mass transit system in America in the city of Grand Rapids, MI. Given the overwhelming desire nationally to create green energy powered infrastructure, the Grand Rapids Mass Transit System will serve as a regional and national model for public transportation utilizing advanced technology.
Additionally, not only will the subway system serve as a transportation medium, it will also stimulate economic growth at each line depot. Due to increased foot traffic at each stop, developments and economic opportunity will arise out of business plans utilizing the subway stop as a demographic centerpiece. The River GrandTM & Gerald Ford International Airport will serve as the anchor legs upon which the transit system will stand. This will allow for all the other line stops to represent additional limbs and other parts needed for a functional metropolitan body to be up and running. The long term economic impact of the transit system is incalculable, however suffice it to say Grand Rapids and the State of Michigan will be a 21st century transportation model to the world.
The cities and townships the transit system will trace through are:
Byron Township Cascade Township Grand Rapids Township East Grand Rapids Township Grand Rapids Grandville Kentwood Wyoming
The transit system will also take advantage of Grand Rapids' exploding medical & Research communities, intersecting major hospitals and universities such as:
Blodgett Butterworth Metro St Mary's Aquinas College Calvin College Grand Valley State University
Lastly, densely populated areas and regional malls will serve as subway stops such as:
Rivertown Woodland Devos Convention Center City Hall 44th & Byron Center
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