Download Bellwether on the Bay

Bellwether on the Bay®
Retail, Marine Trades, Commercial, Residential Waterfront Mixed Use Development Opportunity
REQUEST FOR
QUALIFICATIONS
& VISION
A P RIME P UBLIC - P RIVAT E PA R T NER SH I P
Development Opportunity
Redden Marine Supply
is the anchor tenant on a
superb parcel of land at
the corner of Bellwether
Way and Roeder Avenue
at Bellwether on the Bay
®
Invitation
Request for Qualifications and Vision
Developers are being sought for a public/private first-class commercial waterfront
mixed-development project to construct retail spaces, professional offices,
residential, and a production / shipping / receiving facility on an approximate
®
1.88 Acre site located at Bellwether on the Bay , Bellingham, Washington.
This development opportunity would allow commercial mixed use development on
®
a highly visible corner at Bellwether on the Bay with Redden Marine Supply as
the Anchor Tenant. Redden Marine Supply is a solid and long standing business
established in 1959 specializing in commercial and recreational boating supplies
and equipment. The Port of Bellingham and Redden Marine Supply have a long term
and successful business relationship of over 40 years. Redden Marine Supply would
sublease from the Developer. The Developer would enter into a ground lease with
the Port of Bellingham.
Bellwether on the Bay® presently has over $70 million dollars in private and
public investment in Class-A mixed use Buildings. The development is located in
an upscale setting with a mixture of waterfront offices, the Hotel Bellwether, several
restaurants and cafes, retail shops, and services. There are exceptional waterfront
views, superior amenities, a boating marina, landscaped walking trails along the
shoreline, and a public park. The development has good access to the city Central
Business District, the Bellingham International Airport, and Interstate 5 (I-5).
The Port of Bellingham is seeking creative, enthusiastic partners to participate in
this development to provide expansion and growth for Redden Marine Supply at
Bellwether on the Bay® and contribute to the economic vitality of Whatcom
County by redeveloping this under-utilized site.
Development Site Offered
The site is located on the corner of Bellwether Way and
Roeder Avenue and consists of an approximate 1.88 Acre
site. The land ownership held by the Port of Bellingham is
available to Developers in a form of a long term fifty (50)
year lease arrangement. Redden Marine Supply, the Anchor
Tenant, holds a lease with the Port of Bellingham and owns
the two-story Building currently located on a portion of this
site. The existing Lease between the Port of Bellingham and
Redden Marine Supply would be terminated concurrently
with the execution of a Ground Lease between the Port of
Bellingham and the Developer. A sublease would be
executed between the Developer and Redden Marine
Supply. RMS anticipates a sublease term with the Developer
of about 20 to 25 years +/-.
This Request for Qualifications and Vision (hereinafter
RFQ/V) is subject to the following criteria:
1. Redden Marine Supply (hereinafter RMS), as the Anchor
Tenant, is the primary focal point of this commercial
mixed-use site development and requires additional
expanded space to accommodate its growing business.
Anticipated RMS square footage is 25,000 +/-. RMS
would occupy a portion of the ground floor of the
Building constructed by the Developer.
Development Site Offered cont.
2. RMS, as the Anchor Tenant, requires a compelling façade, such as, a
10. After construction is complete, working closely with RMS and the Port
two (2) story glass or similar frontage with a warm Pacific Northwest motif to
on timing, the existing RMS owned-building must be demolished, at
maximize its retail line of business as well as to support its branding strategy
Developer’s expense, inclusive of any asphalt/concrete surfaces, to allow
for its portion of the building.
RMS a successful move into the new Building.
3. RMS must have access to high speed, high bandwidth internet / data services.
11. The Developer must provide a design that compliments existing Building
®
structures within the Bellwether on the Bay Development, while at
4. RMS requires an interior mezzanine around the perimeter of the retail store
area to tie into their administrative and support staff with the frontline
the same time, providing a unique Building with interesting architectural
selling functions.
features. The Design shall require the Port and Redden Marine Supply’s
5. RMS “Net Production Facilities” should be visible and complement the
working waterfront concept.
approval.
12. The Developer is responsible for compliance with all applicable shoreline
6. RMS needs built into the design “space for replenishment back-stock and
regulations, zoning regulations, building height regulations, parking codes,
net storage” including a functional shipping/receiving area for deliveries of
performance of view analysis, and any other applicable laws and regulations
net and other marine products.
7. RMS requires adequate customer and employee parking in both quantity of
as it relates to this Development site.
13. The Developer is responsible for the creation of the Specific Binding Site
spaces and ease of access factored into the design.
Plan the Planned Development and Substantial Shoreline Development
8. RMS requires commercial truck parking/ingress/ egress built into the design
Permits to be obtained concurrently from the City of Bellingham; working
to coexist with the residential, retail and professional office components of
the Building.
closely with the Port.
14. The Developer is responsible for modifying and upgrading utilities,
9. RMS must have the ability to continue to be in business and operate from its
storm-water services, and any other utilities and/or services to the site to
current building facility during construction.
current standards as required for the new Building.
The Development Opportunity
This Request for Qualifications and Vision for Bellwether on the Bay®
is to determine the Developer’s:
3
o
Overall interest
3
o
Qualifications, both experiential and financial
3
o
Conceptual vision
3
o
Commitment to the long-term success and economic development
of Bellwether on the Bay®
3
o
Overall commitment to the success of Redden Marine Supply and
surrounding businesses
3
o
Commitment to attracting new business activity and residential
uses with the development of this site
3
o
Overall commitment to building a strong Bellingham community
Guidelines for Submittal
Parties interested in developing this commercial waterfront mixed use site at
®
Bellwether on the Bay offered in this solicitation must submit a total of five
hard copies of their statements of interest, qualifications, and vision to:
Shirley McFearin, Managing Broker
Judy Harvey
Director of Real Estate
Real Estate Representative
Port of Bellingham
Port of Bellingham
PO Box 1677
PO Box 1677
Bellingham, Washington 98227
Bellingham, Washington 98227
Any questions related to this solicitation shall be directed to Shirley McFearin
at (360) 676-2500 or at [email protected] or Judy Harvey at
(360) 676-2500 [email protected].
By the close of business, 5:00 p.m., Monday, September 30, 2013
THE SUBMITTAL MUST INCLUDE:
1. A Letter of Interest generally describing the type, quality, size and style of
development activity envisioned.
2.The nature of other public/private partnerships in which you have direct
involvement. Please include a short synopsis of how the partnership and the
deal were structured.
3.A brief history of the firm and the Project Team.
4.Professional resumes of those who would be assigned to work directly on this
project.
5.Your Project Team’s development experience, including other developments,
(specifically commercial mixed use and public entity related), your relationships with municipalities where other projects are located, and the extent of
involvement with the project.
Guidelines for Submittal cont.
6.Your Project Team’s experience in developing projects of high and distinctive
architecture.
7.Business and Financial Reference and Resources, including how you intend to
finance this proposed development.
8.Any other additional information you feel may be helpful in the evaluation of
respondents.
GENERAL CONDITIONS:
1. Information provided in this part of the solicitation process is subject to the public
disclosure laws and should be considered to be public information and available
for review upon request.
2.Expenses incurred in the preparation of this solicitation are solely the responsibility
of the respondent.
ANTICIPATED SCHEDULE:
Submittal Deadline
September 30, 2013
Evaluation/Selection
October 2013
Execute Memorandum of
Understanding with Developer
November 19, 2013
Negotiate Port of Bellingham 2 months [extending
Ground Lease
to February 28, 2014]
Negotiate Redden Marine
2 months [extending
Supply Sublease
to February 28, 2014]
Project Commencement
September 2014
Guidelines for Submittal cont.
EVALUATION PROCESS:
A limited number of respondents will be invited for further interview and a review of
additional requested information. To assess financial capabilities, further information,
including financial statements of assets, liabilities and net worth will be sought.
The Port of Bellingham along with Redden Marine Supply will evaluate and select
a Developer based on qualifications including past experience with public/private
partnerships, other projects that are similar in scope and complexity, and other
projects that are compatible with a commercial waterfront mixed use development.
The decision will also be based upon the developer’s enthusiasm, vision for the
project, financial capability, construction experience and intended schedule, as well
as other intangibles important for a long term relationship.
The Port of Bellingham and Redden Marine Supply expects to complete the
evaluation process, negotiate the terms and conditions of a Port of Bellingham
Ground Lease, a Redden Marine Supply Sublease, and have construction underway
by September 2014.
The Port of Bellingham reserves the right to reject any and all proposals received in
this solicitation.
The Memorandum of Understanding, Lease transaction and all other Transactional
Documents and approvals are subject to Port Commission approval in an open
public meeting.
Guidelines for Submittal cont.
AFTER THE EVALUATION AND SELECTION:
Right to Negotiate Period
Successful respondent(s) would receive an exclusive two month “right to negotiate”
from the time of the selection. During this period, the Developer would be expected
to prepare and conclude on their own market assessment and business plan and:
1.Conclude negotiations for a memorandum of understanding, a Port of Bellingham
Ground Lease, a Redden Marine Supply Sublease, and other appropriate real
estate transaction documentation;
2.Prepare initial preliminary development schematics, building exterior elevations,
design theme and site plan, etc.
At the conclusion of the two month period, dependent upon satisfactory progress
as determined by the Port of Bellingham, the Developer will prepare the appropriate
documents for the City of Bellingham to permit development to commence consistent
with a mutually developed schedule consistent with the schedule outlined herein.
If satisfactory progress is not made, or negotiations are not successful, the Port of
Bellingham, at its sole discretion, may choose to cease negotiations with the
preferred Developer and begin negotiations with the second-most responsive
Developer, or no Developer.
Guidelines for Submittal
cont.
TERMS:
All negotiated agreements, plans, schematics, and any other documents are and
will be subject to the review and approval of the Port of Bellingham in an open
public meeting.
A lease of fifty (50) years with one (1) twenty-five year renewal option is available.
The Port of Bellingham expects fair market value for the property and the transaction
must meet the financial guidelines of the Port of Bellingham.
A performance bond or equal surety will be required by the Developer to insure
the project is built, and insurance will also need to be provided to the Port of
Bellingham, prior to any construction occurring on the property.
REFERENCE DOCUMENTS:
In order to fully understand the parameter of development potentials, the following
should be reviewed:
City of Bellingham Shoreline Master Plan Program
City of Bellingham Land Use Codes and Design Standards
Port of Bellingham website
Redden Marine Supply website
Waterfront District Draft Sub-Area Plan
www.portofbellingham.com/waterfrontredevelopment
www.portofbellingham.com/waterfrontmasterplan
About Bellwether on the Bay®
Strategically located between Seattle and Vancouver, B.C., Bellwether on
the Bay is where business and pleasure meets. There are a large range of
restaurants, shops, and businesses to visit, everything from a marine supply
business, financial planners, an engineering firm, health care and optic providers,
a salon and spa, a coffee house, the Hotel Bellwether – a luxurious waterfront
hotel - and so many more businesses that call Bellwether on the Bay home.
Public access to open space is readily available with the Tom Glenn Common
1.6 acre waterfront park and a beautifully manicured landscape walkway along
the shoreline promenade that connects to Squalicum Harbor. Patio-style
furniture and benches make it a great place to relax and visit. Outdoor events
and concerts are featured during the summer months.
There are two commercial multi-use buildings with an underground parking
garage owned and operated by the Port of Bellingham.
Privately owned and developed, there are three commercial multi-use buildings
ranging from three to four stories with an underground parking garage; there is a
fourth building of this planned portion of the development to be constructed by
an existing developer with its lease already in place.
About Bellingham
Located on Bellingham Bay with Mt. Baker as its backdrop, Bellingham is the last
major city before the Washington coastline meets the Canadian border. Bellingham is
85 miles north of Seattle and an hour south of Vancouver, B.C. Transportation links connect the community to the nearby San Juan Islands and Victoria on Vancouver Island.
The downtown area has a mixture of restaurant, art galleries, and specialty shops.
Bellingham is an active waterfront port which supports fishing, charter cruises,
leisure boating, boat building, shipping and marina operations.
The Port of Bellingham and the City of Bellingham have joined forces to redevelop
237 acres of waterfront property together to create a community supported redevelopment plan, attract high-quality developers, create new sustainable jobs and provide
new public waterfront parks and trails; this redevelopment area is referred to as The
Waterfront District. The land adjacent to this Development Opportunity / Site is in
close proximity to The Waterfront District, including vacant land with the inner portion
of the I & J Waterway, which would be available for small vessel moorage/launching.
The Waterfront District will include the I & J Park that will be a nice amenity, at City
expense. The Waterfront District plan includes a strong emphasis on marine trades and
expanded marine services which should make the anchor tenant (RMS) stronger with
such business services nearby. During The Waterfront District redevelopment there will
be construction activities, including cleanup and redevelopment of vacant land – short
term disruption with a long term benefit.
Squalicum Harbor is the second largest in Puget Sound, with 1,900 pleasure and
commercial boats moored. From Bellingham’s ports, passenger ferries leave for whale
watch cruises and cruises to the San Juan Islands.
Bellingham is home to Western Washington University on Sehome Hill, from which
you have a sweeping view across the bay to the San Juan Islands. Visitors bound for
Alaska depart on the Alaska Marine Highway System ferries from the Bellingham
Cruise Terminal in the Historic Fairhaven District.
About the Port of Bellingham
The Port of Bellingham works closely with private enterprise and local and state
agencies to facilitate the retention of existing business and the location of new
business to Whatcom County. Like many ports in Washington State, the Port of
Bellingham’s activities go far beyond ocean shipping. Its many other activities
are dedicated to meeting the broader economic and transportation needs of
Whatcom County.
Diverse activities, such as, the operation of Bellingham International Airport, marine
and rail passenger terminals, two marinas, a cargo transportation terminal, and
those activities of over 250 different Port commercial property tenants account
for more than ten percent of the employment in Whatcom County. The Port of
Bellingham has optimal access, whether it is providing transportation connections,
infrastructure or communications. Let the Port of be your business partner,
working with you to make your development become a reality.
Website: http://www.portofbellingham.com
Vancouver, BC
Bellingham, WA
5
REQUEST FOR
REQUEST FOR
QUALIFICATIONS
QUALIFICATIONS
& VISION
Seattle, WA
& VISION