PHASE 3: THE BATTERY 2017: reflecting the sky

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Susan Lang
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1 PHASE 3: THE BATTERY 2017: reflecting the sky

2 PHASE 3: THE BATTERY 2017

3 PHASE 3: THE BATTERY 2017: Thermal Image

4 PHASE 3: THE BATTERY 2017 $169/sf

5 ACTUAL RENTS ACHEIVED AS-BUILT EXPENSES PROJECT(REVENUE CAPITAL(FLATS(II Residential 1+BR $ BR $2.35 IncludingDRYWALL Outside Proposed TO Proposed Proposed WallsDRYWALL 29*Jun BANK 29*JunBANK 29*Jun BANK BEDS UNIT+# SF/UNIT)NET)SF.$/SF $/SF PRICING MONTH YEAR YEAR $2.93 $2.35 $1, $1, ))))))))))))))))))) 15, $12, $2.74 $2.35 $1, $1, ))))))))))))))))))) 21, $18, $2.90 $2.35 $1, $1, ))))))))))))))))))) 15, $12, $2.89 $2.35 $1, $1, ))))))))))))))))))) 19, $15, $3.14 $2.35 $1, $1, ))))))))))))))))))) 16, $12, $3.21 $2.35 $1, $1, ))))))))))))))))))) 16, $12, $2.75 $2.35 $1, $1, ))))))))))))))))))) 18, $15, $2.73 $2.35 $1, $1, ))))))))))))))))))) 18, $15, $2.69 $2.35 $1, $1, ))))))))))))))))))) 16, $14, $2.69 $2.35 $1, $1, ))))))))))))))))))) 16, $14, $2.52 $2.35 $1, $1, ))))))))))))))))))) 19, $17, $2.89 $2.35 $1, $1, ))))))))))))))))))) 19, $15, $2.76 $2.35 $2, $2, ))))))))))))))))))) 30, $25, $2.75 $2.35 $1, $1, ))))))))))))))))))) 18, $15, $2.73 $2.35 $1, $1, ))))))))))))))))))) 18, $15, $2.69 $2.35 $1, $1, ))))))))))))))))))) 16, $14, $2.69 $2.35 $1, $1, ))))))))))))))))))) 16, $14, $2.52 $2.35 $1, $1, ))))))))))))))))))) 19, $17, $2.89 $2.35 $1, $1, ))))))))))))))))))) 19, $15, $2.76 $2.35 $2, $2, ))))))))))))))))))) 30, $25, $2.75 $2.35 $1, $1, ))))))))))))))))))) 18, $15, $2.73 $2.35 $1, $1, ))))))))))))))))))) 18, $15, % $2.69 $2.35 $1, $1, ))))))))))))))))))) 16, $14, % $2.69 $2.35 $1, $1, ))))))))))))))))))) 16, $14, % $2.52 $2.35 $1, $1, ))))))))))))))))))) 19, $17, % Parking+units+@+$150/m.+per+space 13 $150 $23, $2.77 $2.35 $39, $33, $493, $424,545 PHASE 3: THE BATTERY 2017 $1, Gross(Revenue $33, $493, $424, % Less+Vacancy 8.0% V$2, )$32,092 V$32,092 Gross(Rent $((( 2.12 $30, $461, $392,453 Taxes (during+10+year+tax+abatement) $10,705 Insurance $8,000 Maintenance+Reserve+ 3% $11,774 Snow+Removal $800 Grounds+&+Landscaping $500 Trash+Collection $4,800 Common+Area+Utilities $1,200 Accounting+/+Taxes $6,000 Management+Fee 3% $11, Total(Expenses $3.13 $55,552 Operating(Ratio 14.16% Cash(Flow(Before(Debt(Service $406, $336,901 Permanent+Debt+Service Beginning+Loan+Balance $3,664,986 $3,664,986 Loan+Term+(Years) Interest+Rate Payments+per+Year Annual(Debt(Service(Payment 4.25% 12 $238, % 12 $238,256 ACTUAL Net(Cash(Flow $167, $98,645 Net7Cash7Flow Project(Value(at(Stabilization Cap(Rate 5.00% $8,123, $6,738,019 Project7Value7at7Stabilization Debt(Service(Coverage(Ratio Debt7Service7Coverage7Ratio LTV(Stabilized 50.90% 43.56% 50.90% LTV7Stabilized Average Rent : $2.77sf CAPITAL'2'COSTS DESCRIPTION'OF'WORK Concrete/Site/Excavation Windows/Doors/Panelized Rough Carpentry Finish Carpentry Cabinetry/Appliances/Fixtures Insulation Roofing Greenroof Exterior Cladding Drywall, Metal Studs Interior Doors/Frames/Hardware Flooring Paint Specialties: Steel Fire Sprinklers Plumbing HVAC: Air-sourced HVAC Geothermal, VRF Electric General Reqs OH& Profit Soft Costs Contingencies SOLAR: structure, panels, racking TOTAL Total Sf: COSTS: Hard 15-Jun ACTUAL'VALUE $172, $336, $195, $37, $284, $39, $119, $221, $118, $43, $151, $48, $55, $44, $130, $0.00 $312, $158, $234, $176, $314, $221, $250, $3,664, sf $169/sf

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13 Passive House verification Photo or Drawing Building: Capital Flats II Street Address: W Laurel Street / N Hancock Street City, State, Zip: Philadelphia, PA Country: USA Building type: apartment building Climate: PHILA INT AP PA Altitude of building site (feet above sea level): 17 Home owner / Client: Street Address: City, State, Zip: Architecture: Onion Flats Architecture Street Address: 111 W Norris Street City, State, Zip: Philadelphia, PA Mechanical system: Street Address: City, State, Zip: Year of construction: 2016 Interior temperature winter: 68.0 F Enclosed volume V e ft³: No. of dwelling units: 25 Interior temperature summer: 77.0 F Mechanical cooling: x No. of occupants: 53.0 Internal heat sources winter: 1.40 BTU/h.ft² Spec. capacity: 11 BTU/F per ft² TFA Ditto summer: 1.72 BTU/h.ft² Specific building demands with reference to the treated floor area Treated floor area ft² Requirements Fulfilled?* Space heating Heating demand 2.35 kbtu/(ft 2 yr) 52% of 4.50 kbtu/(ft²yr) yes Heating load 2.97 BTU/(hr.ft 2 ) 71% of 4.20 BTU/(hr.ft²) yes Space cooling Overall specif. space cooling demand 6.11 kbtu/(ft 2 yr) 98% of Primary energy Cooling load 2.75 BTU/(hr.ft 2 ) 59% of 6.26 kbtu/(ft²yr) yes 4.70 BTU/(hr.ft²) yes Frequency of overheating (> 77 F) % - - Heating, cooling, auxiliary electricity, dehumidification, DHW, lighting, electrical appliances 45.2 kbtu/(ft 2 yr) 68% of 66.8 kbtu/(ft²yr) yes DHW, space heating and auxiliary electricity 24.6 kbtu/(ft 2 yr) - - Specific primary energy reduction through solar electricity kbtu/(ft 2 yr) - - Airtightness Pressurization test result n /h /h yes Passive House? * empty field: data missing; '-': no requirement yes PHIUS Multi-Family Calculator *Results in green icfa TOTAL (ft 2 ) 16,782 PV Utilization Site electricity (kwh/yr) Output from PV Watts (kwh/yr) Annual PV Output/Annual Electricity Demand 1.17 Utilization fraction from utilization curve Primary Energy offset by PV (kbtu/ft 2 yr) Primary Energy 45 kbtu/sf/yr Site Energy: 84,085 kwh/yr PHASE 3: THE BATTERY 2017

Passive House verification Photo or Drawing Building: Capital Flats II Street Address: 152-158 W Laurel Street / 935-937 N Hancock Street City, State, Zip: Philadelphia, PA Country: USA Building

14 Passive House verification Photo or Drawing Building: Capital Flats II Street Address: W Laurel Street / N Hancock Street City, State, Zip: Philadelphia, PA Country: USA Building type: apartment building Climate: PHILA INT AP PA Altitude of building site (feet above sea level): 17 Home owner / Client: Street Address: City, State, Zip: Architecture: Onion Flats Architecture Street Address: 111 W Norris Street City, State, Zip: Philadelphia, PA Mechanical system: Street Address: City, State, Zip: Year of construction: 2016 Interior temperature winter: 68.0 F Enclosed volume V e ft³: No. of dwelling units: 25 Interior temperature summer: 77.0 F Mechanical cooling: x No. of occupants: 53.0 Internal heat sources winter: 1.40 BTU/h.ft² Spec. capacity: 11 BTU/F per ft² TFA Ditto summer: 1.72 BTU/h.ft² Specific building demands with reference to the treated floor area Treated floor area ft² Requirements Fulfilled?* Space heating Heating demand 2.35 kbtu/(ft 2 yr) 52% of 4.50 kbtu/(ft²yr) yes Heating load 2.97 BTU/(hr.ft 2 ) 71% of 4.20 BTU/(hr.ft²) yes Space cooling Overall specif. space cooling demand 6.11 kbtu/(ft 2 yr) 98% of Primary energy Cooling load 2.75 BTU/(hr.ft 2 ) 59% of 6.26 kbtu/(ft²yr) yes 4.70 BTU/(hr.ft²) yes Frequency of overheating (> 77 F) % - - Heating, cooling, auxiliary electricity, dehumidification, DHW, lighting, electrical appliances 45.2 kbtu/(ft 2 yr) 68% of 66.8 kbtu/(ft²yr) yes DHW, space heating and auxiliary electricity 24.6 kbtu/(ft 2 yr) - - Specific primary energy reduction through solar electricity kbtu/(ft 2 yr) - - Airtightness Pressurization test result n /h /h yes Passive House? PHASE 3: THE BATTERY 2017 * empty field: data missing; '-': no requirement yes 210 mods x 370 watts = 77 kw system PHIUS Multi-Family Calculator *Results in green icfa TOTAL (ft 2 ) 16,782 PV Utilization Site electricity (kwh/yr) Output from PV Watts (kwh/yr) Annual PV Output/Annual Electricity Demand 1.17 Utilization fraction from utilization curve Primary Energy offset by PV (kbtu/ft 2 yr) Primary Energy 45 kbtu/sf/yr Site Energy: 84,085 kwh/yr Output from PV: 98,554 kwh/yr NET-POSITIVE!

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21 BANKS

22 BANKS 2018

23 BANKS 2018

24 BANK FLATS 2017: shared work space

25 BANKS 2018: shared work space

26 BANK FLATS 2017: shared work space

27 BANKS

28 BANK FLATS BANKS COPPER FLATS

29 BIRDSEYE VIEW BANK FLATS 2018: 30 units and retail Copper Flats 2020: 70 units

30 BANK FLATS 2018: 30 units and retail FRONT STREET VIEW

PROJECT SPECS - 30 Apartments (300-500sf) - 24,141 sf - R34 walls - R 54 roof/floors -.13 Uvalue windows -.

31 PROJECT SPECS - 30 Apartments ( sf) - 24,141 sf - R34 walls - R 54 roof/floors -.13 Uvalue windows -.6 SHGC - DE-Centralized VentilationERV - SEMI-DE-Centralized Hot Water - DE-Centralized heating/cooling - DE-Centralized Electric Metering - 89 kw PV array to get to Net Zero BANK FLATS 2018: 30 units and retail

32 PROJECT SPECS - 30 Apartments ( sf) - 24,141 sf - R34 walls - R 54 roof/floors -.13 Uvalue windows -.6 SHGC - DE-Centralized VentilationERV - SEMI-DE-Centralized Hot Water - DE-Centralized heating/cooling - DE-Centralized Electric Metering - 89 kw PV array to get to Net Zero $158/sf BANK FLATS 2018: 30 units and retail

33 PROJECT SPECS - 30 Apartments ( sf) - 24,141 sf - R34 walls - R 54 roof/floors -.13 Uvalue windows -.6 SHGC - DE-Centralized VentilationERV - SEMI-DE-Centralized Hot Water - DE-Centralized heating/cooling - DE-Centralized Electric Metering - 89 kw PV array to get to Net Zero BANK FLATS 2018: 30 units and retail BANK%FLATS%COSTS DESCRIPTION%OF%WORK Site/Excavation/Concrete $204, Rough;Carpentry $669, Steel $50, Roofing $132, Exterior;Cladding $230, Insulation $97, Drywall;Tape;&;Finish $140, Doors,;Frames;&;Hardware $57, Finish;Carpentry;&;Accessories $93, Kitchen/Vanity $140, Appliances/Fixtures/Faucets $139, Bath;Fixtures; $28, Painting $66, Flooring $185, Plumbing $235, HVAC $314, Electrical $282, SOLAR $141, General;Conditions; $445, OH/Profit $176, TOTAL% $3,830, Total Sf: COSTS: Hard $ SF 24,141 sf $158/sf

34 A B C D E A B C D E 2 LEVEL 1 0' - 3 3/8" LEVEL 1 1/8" = 1'-0" 0' - 3 3/8" Terraced garden TRASH TRASH ENTRY/CORRIDOR 1 2 COMMERCIAL Commercial 3 LIFT UP STR-1 ENTRY/CORRIDOR Unit 101 Unit 102 COMMERCIAL APT 101 BIKES 7' - 8" 5' /8" LIFT APT 102 UP STR-1 REF. APT 103 APT 101 UP Unit 103 7' - 8" 5' /8" BIKES STR-2 APT 102 Unit 104 APT 104 REF. 3' - 2 5/8" REF. UP APT 103 STR ' - 2 5/8" APT 104 REF GROUND FLOOR BANK FLATS 2018: 30 units and retail

35 - - - A B C D E A B C D E 3 A A ' - 10" 20' /2" 14' - 2" 2 BASEMENT UP LEVEL 1 1/8" = 1'-0" 0' - 3 3/8" 4 A A-302 Terraced garden UP 4' - 6" 11' - 0" TRASH A A WOMENS TOILET RM 1 2 Commercial 3 COMMERCIAL JAN. CL. MENS TOILET RM LIFT POTENTIAL KITCHEN 300 SF CORRIDOR ENTRY/CORRIDOR STR-1 UP MECHANICAL COMMERCIAL LIFT TOILET RM 5' - 0" 5' - 0". UP STR-1 MECHANICAL UP STR-2 APT 101 7' - 8" 5' /8" BIKES APT 102 REF. MECHANICAL MECH. RM UP APT 103 STR A A-303 3' - 2 5/8" APT 104 REF BASEMENT BANK FLATS 2018: 30 units and retail

36 REF. REF. OOM OOM REF. REF..2 2 A-303 APT 308 STR-2 UP CORR. MECH. UP STR-1 APT 301 A B C D E 3 2 A-302 A-301 TRASH A A-303 LEVEL 1 0' - 3 3/8" 3 LEVEL A-302 A BEDROOM APT 402 ENTRY/CORRIDOR APT 401 SHWR BEDROOM COMMERCIAL REF. LIFT REF. APT 403 UP STR-1 REF. SHWR REF. SHWR STR-1 UP APT APT BEDROOM 7' - 8" 5' /8" CORR. MECH. BIKES BEDROOM APT 405 APT 102 REF. SHWR SHWR REF. UP STR-2 APT 103 APT 406 STR-2 SHWR BEDROOM REF. REF. APT 408 BEDROOM APT 104 APT 407 3' - 2 5/8" A A A ND -4 TH FLOORS BANK FLATS 2018: 30 units and retail

- - - - - - 3 REF. REF. OOM OOM REF. REF..2 2 A-303 APT 308 STR-2 UP CORR.

TRASH --- 3 A-303 1 A-303 LEVEL 1 0' - 3 3/8" 3

BEDROOM APT 402 Unit 202 ENTRY/CORRIDOR APT 401

SHWR Unit 201 Unit 203 Unit 204 Unit 205 Unit 206

SHWR APT 403 UP STR-1 STR-1 UP BEDROOM CORR.

BIKES APT 405 APT 102 REF. SHWR SHWR REF.

37 REF. REF. OOM OOM REF. REF..2 2 A-303 APT 308 STR-2 UP CORR. MECH. UP STR-1 APT 301 A B C D E 3 2 A-302 A-301 TRASH A A-303 LEVEL 1 0' - 3 3/8" 3 LEVEL A-302 A BEDROOM COMMERCIAL BEDROOM APT 402 Unit 202 ENTRY/CORRIDOR APT 401 REF. LIFT REF. SHWR Unit 201 Unit 203 Unit 204 Unit 205 Unit 206 REF. SHWR REF. SHWR APT 403 UP STR-1 STR-1 UP BEDROOM CORR. 7' - 8" 5' /8" BEDROOM APT APT MECH. BIKES APT 405 APT 102 REF. SHWR SHWR REF. UP STR-2 APT 103 APT 406 STR-2 SHWR APT 407 3' - 2 5/8" BEDROOM REF. REF. APT 408 BEDROOM APT 104 Unit 207 Unit A A A ND -4 TH FLOORS BANK FLATS 2018: 30 units and retail

Solar Soars Above & Beyond the Rooftop

NESEA- Building Energy NYC 2018 October 4, 2018 Solar Soars Above & Beyond the Rooftop Ron Celentano of Celentano Energy Services (CES) Ron Celentano - Solar Industry Consultant Design; Project Oversight;