1. Brought to you by MOTOWN CONSTRUCTION PARTNERS, LLC Broderick Tower Re-development Project

2. Brought to you by MOTOWN CONSTRUCTION PARTNERS, LLC The Broderick Tower Re-development The 34-story David Broderick Tower, was constructed in 1928 as the Eaton Tower under the direction of Luis and Paul Kamper of Detroit. It was, at the time, the second tallest skyscraper in Michigan. The building was acquired in 1945 by David Broderick, who renamed the building in his own name and managed it until his death in 1957. The building sold numerous times over the next 20 years before being purchased by the Higgins Family Trust in late 1976. The building lost the majority of its tenants in the mid 1980’s collapse of the Detroit office market, and has stood almost empty since. Ownership was transferred in 2010 to the new entity MOTOWN CONSTRUCTION PARTNERS, LLC in preparation for the completion and re-development of the building. A Historic Property

3. Brought to you by MOTOWN CONSTRUCTION PARTNERS, LLC The Broderick Tower Re-development Historic Architecture with Attention to Detail Original Lobby Finishes Limestone Cornice Details

4. Brought to you by MOTOWN CONSTRUCTION PARTNERS, LLC The Broderick Tower Re-development The building has a significant local history and a sound structure, however it’s condition prior to redevelopment had significantly deteriorated. These circumstances, combined with a great opportunity to create a catalytic downtown project are what prompted the comprehensive re-development plan, and our efforts to return this historic gem to it’s former glory.

5. Brought to you by MOTOWN CONSTRUCTION PARTNERS, LLC The Broderick Tower Re-development The Project will renovate the existing building into 125 apartments on floors 5- 34, with the lower 4 floors being upgraded for retail / entertainment / office uses. Because the re-development would entail new systems we run less risk of encountering unforeseen circumstances. Major improvements necessary to accomplish the conversion process include: Exterior restoration: Masonry, window, & canopy restoration / replacement Life safety: Fire detection and alarms, sprinklers and emergency lights Utility Upgrades: Replacement of mechanical and electrical systems Interior Restoration / Build-out: of apartment and commercial space. The total re-development costs will exceed $55 million, an expenditure that will result in a spectacular mixed use project in a prime location. A Comprehensive Plan

6. Brought to you by MOTOWN CONSTRUCTION PARTNERS, LLC The Broderick Tower Re-development The Broderick Tower is located in the heart of Detroit’s burgeoning Entertainment District surrounded by Theatres, Restaurants, Casinos and the City’s two new sports stadiums.

7. Brought to you by MOTOWN CONSTRUCTION PARTNERS, LLC The Broderick Tower Re-development The building, located on Grand Circus Park, and with extensive street frontage on Woodward Avenue and Witherell Street, overlooks the Detroit Tiger’s Comerica Park to the North and the Downtown Skyline and Detroit River to the South, providing great view from all four sides of the Broderick Tower.

8. Brought to you by MOTOWN CONSTRUCTION PARTNERS, LP The Broderick Tower Re-development Unique Floor Plans The slender tower shape of the building lends itself to unique residential floor plans. Kraemer Design Group capitalizes on this circumstance to create distinctive apartment ayouts, each offering a magnificent city vista Sample floor Plan with a double height unit is show here 7 th – 8 th Floor Plan

9. Brought to you by MOTOWN CONSTRUCTION PARTNERS, LLC The Broderick Tower Re-development Distinctive Floor Plans Unit Type K: A one bedroom unitUnit Type N: A three bedroom unit Unit Type F: A two bedroom two level unit

10. Brought to you by MOTOWN CONSTRUCTION PARTNERS, LLC Broderick Tower Re-development Inviting and individual interiors with a contemporary flair

11. Brought to you by MOTOWN CONSTRUCTION PARTNERS, LLC The Broderick Tower Re-development A Diverse Income Stream Income Stream: Appraisal Implications Restaurant / Retail Entertainment (B-2) Office Leasing (2-4) North Wall Signage Rooftop (Antenna) Space Leasing Apartment Leasing

12. Brought to you by MOTOWN CONSTRUCTION PARTNERS, LLC The Broderick Tower Re-development Multiple Sources of Funding Federal & State Historic Tax Credits Michigan Brownfield (MBT) Tax Credit Local TIF Recapture OPRA Tax Abatement City of Detroit Assessment Reduction Invest Detroit Real Estate Loan Invest Detroit LWHF Loan Bank of America and Chase Bank New Market Tax Credit Investment Bank of America Tax Credit Bridge Loan

13. The Broderick Tower Re-development The Assembled Deal: Uses of Funds Land ( Building ) Cost: $ 5,000,000 Pre-construction Services Costs 425,000 Architecture & Engineering 1,185,000 Tax Credit and Finance Consulting 200,000 Legal and Misc Financing 1,000,0000 Accounting and Cost Certification 250,000 Bank Financing / Closing Fees 350,000 Environmental, Appraisal, Marketing Studies 150,000 Construction Costs Contractor Overhead 1,000,000 Construction Contingency 2,889,505 General Conditions 2,486,000 Trade Costs Buildings 24,747,524 Construction Management Fees 1,219,386 Building & misc permits 442,141 DTE / City Power & Light Fees 375,000 Builders Risk & Liability Insurance 103,244 Construction Finance Costs 3,500,000 Construction Observation 180,000 Building Operations (prior to stabilization) 600,000 Commercial Space Operating Reserve 1,000,000 Marketing / Leasing Fees and Costs 261,500 Project Contingency and Reserve 400,000 Deferred Fee Developer Fee 500,000 Deferred Project Development Fee 7,239,400 Total Uses of Funds $ 55,503,700 Brought to you by MOTOWN CONSTRUCTION PARTNERS, LLC

14. The Broderick Tower Re-development The Assembled Deal: Sources of Funds Equity MM Equity -Contributed Property $ 5,000,000 MM Capital Contribution 1,100,000 Building Income $ 600,000 Deferred Development Fee 7,239,400 Deferred Construction Cost 3,737,400 Incentive Financing Federal Historic Tax Credits 11,723,100 State Historic Tax Credits 1,969,400 State Historic Special Consideration Tax Credit 5,908,400 Brownfield Tax Credits 5,328,456 New Market Tax Credits 7,897,500 Debt Financing Invest Detroit / Lower Woodward Loans 5,000,000 Total Sources of Funds $ 55,503,700 Brought to you by MOTOWN CONSTRUCTION PARTNERS, LLC

15. The Broderick Tower Re-development LAUNCHING CONSTRUCTION Groundbreaking The Demolition Crew Brought to you by MOTOWN CONSTRUCTION PARTNERS, LLC

16. The Broderick Tower Re-development PROJECT PROGRESS 11-09-11 Brought to you by MOTOWN CONSTRUCTION PARTNERS, LLC Material Hoist on Building, Exterior Restoration at 50% +, and Windows Installed through Floor 12

17. The Broderick Tower Re-development PROJECT PROGRESS 11-09-11 Brought to you by MOTOWN CONSTRUCTION PARTNERS, LLC Upper Floor Cleaned Out, with Floor Slabs Repaired ready for Interior Framing Interior Framing in Place on Mid-level Floors Roof Penthouse Built, with Roof Completed and Penthouse Siding being installed

18. The Broderick Tower Re-development PROJECT PROGRESS 11-09-11 Brought to you by MOTOWN CONSTRUCTION PARTNERS, LLC Vertical Shaft with Roof Drain, Domestic Water, Hot Water Heating Piping, and Fresh Air Duct Installed Eighth Floor Framed Out for Apartments with Shower Backer Board and Shower Pan, Domestic Piping and Electrical well underway

19. The Broderick Tower Re-development PROJECT Occupancy 11-02-12 Brought to you by MOTOWN CONSTRUCTION PARTNERS, LLC Historic Witherell Lobby just prior to Occupancy Completed Exterior Restoration

20. The Broderick Tower Re-development PROJECT Occupancy 11-02-12 Brought to you by MOTOWN CONSTRUCTION PARTNERS, LLC Completed Apartment Kitchen and Living Area Completed Apartment Bedroom

21. The Broderick Tower Re-development PROJECT Occupancy 11-02-12 Brought to you by MOTOWN CONSTRUCTION PARTNERS, LLC Typical Upper Floor Bathroom Vanity Spiral Stair in two-story “K” Unit