Proposed Development. The first phase of development will include the construction of an as-of-right tower, which will avail itself of the permitted d

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1 Miami River will be a mixed use development bound on the north by the Miami River, on the south by SW 7 th Street, on the east by SW 2 nd Avenue, and on the west by SW 3 rd Avenue ( Property ). The project will consist of five (5) phases of development, which will include four sixty-story towers, two three-story structures, and an active Riverwalk public promenade. The Property will feature commercial, office, residential, lodging, and marine industrial uses. The centerpiece of project, however, will be the Miami River and the abutting public plazas and Riverwalk promenade. Land Use and Zoning. The majority of the Property, with the exception of the two parcels abutting the Miami River, is designated "Restricted Commercial" by the Miami Comprehensive Neighborhood Plan, 2020 Future Land Use Plan Map ("FLUM"). The two riverfront parcels are designated as Industrial and Port of Miami River according to the FLUM. The FLUM designates the entire project area as within the Little Havana Density Increase Area (RDIA). Consistent with the land use designations, the Property is zoned D3 Waterfront Industrial and T6-36B-O Urban Core, according to the Miami 21 Zoning Code ("Miami 21"). Land Use History. According to an Archeological Assessment prepared by the Archeological and Historic Conservancy, Inc., the Property is believed to have been occupied as early as 1918, with the northern portion of the project area, along the Miami River, used as a boat works for much of the time since its initial use. This assessment indicates that a boat repair business and a single dwelling were located on the northern portion of the project area in 1918; a cluster of three buildings, a shed, and docks were located on the central portion; and seven dwellings with a number of sheds were located on the southern portion. Later, in 1947 the northern portion appears to have contained a complex of structures identified as belonging to Atlantic Marine Boatyard Inc., and no dwellings. The central portion appears to have contained six commercial structures and a modified boatyard complex labeled Florida Marine Service, Inc. At the same time, the southern portion of the project area contained eight dwellings and at least five commercial structures. It appears that despite several proposals to redevelop the project area, the project area has largely retained the structures constructed during the 1920s through 1940s. Currently, the northern portion of the Property contains an entertainment complex; the central portion contains some former warehouse structures; and the southern parcel contains residences, vacant land, and a former automotive or marine-related structure. These structures contain an assortment of uses including bar/nightclubs (northern portion); a marine supply store/warehouse use (central portion); an abandoned adult megastore, a print shop, vacant land, and derelict residences (southern portion). These assorted uses are all located adjacent to the recently updated Jose Marti Park and Gymnasium and a Publix supermarket to the west, and the SW 2 Avenue Bridge and Storage Mart to the east.

2 Proposed Development. The first phase of development will include the construction of an as-of-right tower, which will avail itself of the permitted density and floor area for Phase 1 and Phase 4 based on current Miami 21 regulations. The Phase 1 structure will be constructed on the western portion of the block bound by SW 6th Street on the south, SW 5th Street and the Miami River on the north, SW 3rd Avenue on the west and SW 2nd Avenue on the east. The structure will be constructed on the western portion of the block, while the eastern portion remains open for Phase 4 of the development, pending approval of our proposed land use and zoning entitlements. Phase 1 will include approximately: 53,480 square feet of commercial area; 368 residential units; 150 hotel units; and amenities. Phase 2 will include development of the two waterfront parcels, as well as the Riverwalk Promenade from SW 2 Avenue through Jose Marti Park. This area will retain its Industrial land use designation, Waterfront Industrial D-3 zoning designation, and contain working waterfront uses including moors, retail, restaurants, and offices. Phase 2 development will include two three-story structures, amounting to 22,114 square feet of commercial space, 1,834 square feet of office space, 0.35 miles of Riverwalk promenade, and marine industrial uses along the river. The riverwalk will be 4.25 feet above the mean high water level at the river (1 foot from grade), while the structures will rise to feet above the river (43 feet from grade). The third phase will include construction of sixty-story tower immediately to the south of the Phase 1 tower. The lot area of the parcel will encompass the majority of the block, bound by SW 7th Street on the south, SW 6th Street on the north, SW 3rd Avenue on the west and SW 2nd Avenue on the east. Like the Phase 1 tower, the Phase 3 tower will avail itself of the lot area of the majority of the block, leaving space for Phase 5 to be developed, pending approval of our proposed land use and zoning entitlements. Phase 3 will include: 61,990 square feet of commercial area, 460 residential units, 180 hotel units, and amenities. Phase 4 is proposed for the portion of the property immediately east of Phase 1- and is contingent on modifications to both the City s Land Use and Zoning regulations. Phase 4 will include: 19,453 square feet of commercial space, 350 residential units, 20,500 square feet of office space; and amenities. Finally, Phase 5 is proposed for the portion of the property immediately east of Phase 3. Phase 5 will include: 48,820 square feet of commercial space, 500 residential units, 77,540 square feet of office space, and amenities. In total, the project will contain approximately 1,678 residential units, 99,874 square feet of office space, 330 hotel rooms, and 205,857 square feet of commercial space. All four sixty-story towers will rise to approximately feet ( feet from the mean high water level). These uses will generate approximately 368 net new trips entering the project area, and 391 net new trips exiting the project area per hour. These trip generation estimates overestimate the number of residential uses,

3 the amount of office space, and the amount of retail space; in effective, the traffic estimates represent the greatest amount of traffic possible. At this point, these figures are still subject to minor modifications, but they represent the ballpark of what we are currently studying and intend to submit to the City of Miami as part of our land use and SAP application. It should be noted that there are no proposed modifications from the Miami River Corridor Urban Infill Plan. Land Use and Zoning Requests. In order to bring the Miami River project to fruition, the developer is submitting concurrent land use & zoning applications to the City of Miami. Land Use. As previously indicated, the majority of the Property, is designated Restricted Commercial according to the FLUM. The Restricted Commercial land use designation permits residential density of up to a maximum of 150 dwelling units per acre. However, the Property is also located within the Little Havana Residential Density Increase Area, which permits residential density of up to a maximum of 200 dwelling units per acre, subject to the underlying zoning. The developer's application will contain a request to create a new Residential Density Increase Area (RDIA) that will permit the development of up to 400 dwelling units per acre within the portion of the Property designated Restricted Commercial land use on the FLUM. This residential density increase will be commensurate with the permitted densities both to the north and the east of the project area, which allow densities of up to 1,000 and 500 dwelling units per acre. No changes are proposed to the Industrial and Port of Miami River FLUM designations. Zoning. Miami 21 contains a specific process which allows areas of more than nine (9) abutting acres to be master planned to allow greater integration of public improvements, infrastructure, and design. This master planning process is known as a Special Area Plan ("SAP"). The developer, along with the City of Miami as coapplicant, will be requesting a SAP to permit the Property to be developed in accordance with design guidelines, regulatory plan, and Chapter 163 Development Agreement. This will allow the developer and the City to integrate the public rightsof-way and portions of Jose Marti Park into the SAP for the master-planning, designing, permitting and construction of public improvements. It should be noted that the City of Miami will continue to own all public lands, and that there will be no changes to the underlying zoning as a result of inclusion the City's lands in the SAP Project Benefits. The Miami River, Miami River Corridor, and residents of the City of Miami will all greatly benefit from this project. Benefits can be categorized into three overarching categories: safety, aesthetics, and public access. Safety. Although certain that this area has incredible potential, it is also true that this area is known for containing some unpleasant elements. Jose Marti Park offers a number of community amenities, which some residents of the City of Miami hesitate to take advantage of due to the current character of the neighborhood. The

4 developer s proposal will supplant the existing assortment of questionable uses and transients with a sustainable, mixed-use neighborhood activated by residents, patrons, and visitors. The SAP will introduce coherent street furniture that includes street lighting along the Riverwalk promenade from the SW 2 Avenue bridge through Jose Marti park, and 24 hour uses such as residential and lodging units. Together, these factors will transform this area into a safe, welcoming neighborhood. Aesthetics. The project s focal point is the Miami River and the Riverwalk promenade. Each phase is designed to be unique and attractive from any vantage, however, special treatment is reserved for the Miami River facades. In particular, the developer is proposing to activate the Riverfront with public access boats slips, commercial establishments, restaurants, and public gathering spaces, including an outdoor theater with wall-cast opportunity, roundabouts, and sculptures. Verdant landscaping including green roofs, cohesive hardscaping and street furniture, and public amenities will create a sense of place that residents, patrons and visitors will flock to, both by land and river. The unique working waterfront vistas will be enjoyed by boaters and terrestrial visitors alike, ultimately creating a sense of vibrancy along the Miami River Corridor yet to be achieved by any other development. Public Access. The developer is proposing a host of public improvements to the project area and its environs. These improvements include expanding existing public amenities and creating a new public Riverwalk promenade which extends from the SW 2nd Avenue Bridge through Jose Marti Park. Improvement of existing amenities includes, for example, updating the Riverwalk in Jose Marti Park, the renovation of the bathrooms currently serving Jose Marti Park pool patrons, and the extension of existing signage and landscaping. New amenities include the creation of streetscapes with pedestrian and cyclist access throughout the SAP, the creation of a public canoe launch within Jose Marti Park, and the creation of public gathering spaces along the Miami River on the Property. A draft list of proposed public benefits to accompany the developer s Chapter 163 Development Agreement has been included in this submittal. The cohesive design of the proposed public amenities and semi-public low-rise structures abutting the Miami River will create a sense of place for residents and visitors alike. Further, the developer is proposing to encourage access of the project both by land and water. This includes the introduction of an additional access way to the Miami River, through the center of the developer's property, referred to 2.5 Avenue, and the establishment of an on-site City of Miami Trolley stop. From the Miami River, the developer is proposing to permit public mooring access to the permitted slips within the project, which will provide boaters with direct access to the retail, restaurant, and Riverwalk amenities immediately adjacent to the Miami River. The developer is also proposing a water taxi stop, which will provide residents, patrons and visitors without access to private watercraft an opportunity to access the project from the River and encourage transit from Bayside and Marlins Stadium. The project will become a destination which benefits not only the Miami River, but the entire Miami River Corridor as well as the City's residents who will now be able to enjoy the Miami River.

5 Developer Experience. CG Miami River is owned by Joseph Chetrit of the Chetrit Group, a privately held company owned by the Chetrit family. The Chetrit Group has been successful in buying, selling and developing properties throughout the United States and abroad over the last 30 years. The Chetrit Group is based in New York and currently owns some of the nation s most renowned properties including the Willis Tower (formerly Sears Tower) in Chicago and the Sony Building in New York City, as well as over 20,000,000 square feet of Commercial and Residential property. The family s portfolio is well diversified with projects including commercial, multi-family, hotel, healthcare, and others. The Chetrits made headlines with their development of an entire new Neighborhood in Manhattan called Columbus Square. Columbus Square consists of High Rise Condominium, Rental and Office Buildings as well as major Retail components. The Chetrit family has been active in the South Florida market in partnership with Miami developer Ari Pearl for over a decade. In recent years Chetrit and Pearl have developed and converted more than $1 billion in various different projects spanning from South Beach to the Florida panhandle. More information is available upon request. It should be noted that additional partners may be added as the project continues to evolve.