18017_3rd&Poplar BPA 20140404

If manager-managed, provide name of manager and percent of ownership:
Name
Ownership (%)
Mailing Address
E-Mail Address
Phone No.
Fax No.
For all LLCs, list all members of the LLC and provide their percent of ownership:
Name
Ownership (%)
Mailing Address
E-Mail Address
Phone No.
Fax No.
Name
Ownership (%)
Mailing Address
E-Mail Address
Phone No.
Fax No.
Name
Ownership (%)
Mailing Address
E-Mail Address
Phone No.
Fax No.
Greystar Real Estate Partners, LLC
100
18 Broad Street, Suite 300
Charleston, SC 29401
[e-mail]
[phone]
[phone]
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Managers of manager-managed LLCs are required to execute all brownfield documents for
the LLC; as to member-managed LLCs, state name of member who will sign these
documents.
Todd Wigfield (as Vice President of Greystar GP II, LLC)
List all parent companies, subsidiaries and other affiliates:
Greystar Real Estate Partners, LLC (parent company)
(Use for Partnerships)
Check one: 0General Partnership Olimited Partnership
List all partners and percent of ownership:
Name
Ownership (%)
Mailing Address
E-Mail Address
Phone No.
Fax No.
Is this person a general or limited partner?
Name
Ownership(%)
Mailing Address
E-Mail Address
Phone No.
Fax No.
Is this person a general or limited partner?
List all parent companies, subsidiaries and other affiliates:
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(Use for corporations other than LLCs)
(If information is the same as shown in 1.A., please indicate "same as 1.A. "below.)
Name
Mailing Address
E-Mail Address
Phone No.
Fax No.
List all parent companies, subsidiaries and other affiliates:
(Use for individuals)
(If individual is the same as shown in 1.A., -please indicate "same as 1.A. "above.)
Name
Mailing Address
E-Mail Address
Phone No.
Fax No.
D. Does PD have or can it obtain the financial means to fully implement a brownfields
agreement and assure the safe reuse of the property? (Attach supporting documentation
such as letters of credit, financial statements, etc.)
Answer Yes
Explanation Greystar GP II, LLC ("Greystar") has contracted to purchase the 0.6-acre
property located east of the intersection of W. 3rd Street and S. Poplar Street in Charlotte,
Mecklenburg County, North Carolina. Greystar's parent company is an established real
estate developer with experience acquiring and developing challenged and underutilized
properties. Since 2009, the company has completed over 40 development projects in nearly
every major market in the U.S., with total capitalization of over $2.3 billion, and another $1.6
billion of development currently under pursuit. The company recently completed Elan
Midtown, a mixed-use project containing both 200 residential units and multiple commercial
uses on a 1.77-acre former brownfield in downtown Charleston, South Carolina. That
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project included entry into and completion of a Voluntary Cleanup Contract with the South
Carolina Department of Health and Environmental Control. The company also is close to
completing Elan Westside, a mixed-use project containing 197 residential units and multiple
commercial uses on a brownfield in the formerly-industrial, west Midtown submarket of
Atlanta, Georgia. This project involved entry into an approved Corrective Action Plan with
the Georgia Department of Natural Resources.
Greystar is applying for the Brownfields Agreement as part of its due diligence for the
purchase of the property. Greystar and its parent company are financially sound and have
the ability to obtain equity capital and loan financing as needed to fully implement a
Brownfields Agreement. Greystar is confident that its application for (and eventual execution
of) a Brownfields Agreement will facilitate loan financing of and equity investment in the
property. The equity investment in and loan financing of the property will provide the
financial means to implement the Brownfields Agreement.
E. Does PD have or can it obtain the managerial means to fully implement a brownfields
agreement and assure the safe use of the property?
Answer Yes
Explanation As described in more detail in the response to Question l.D above, Greystar
and its parent company have a strong background in real estate development and
construction projects (see www.greystar.com). In addition, Greystar has retained
professionals, including Parker Poe Adams & Bernstein LLP, who are experienced in
brownfields redevelopment and the implementation of brownfields requirements in particular.
These professionals (i) have significant experience with the Brownfields Program and the
redevelopment of challenged properties, and (ii) are aware of the requirements and
restrictions that are typically included in brownfields agreements to assure the safe use of
property. The combination of these resources will ensure successful implementation of a
brownfields agreement and safe use of the property.
F. Does PD have or can it obtain the technical means to fully implement a brownfields
agreement and assure the safe use of the property?
Answer Yes
Explanation As described in more detail in the responses to Questions l.D and l.E above,
Greystar and its parent company have significant property development and construction
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experience and Greystar has a range of engineering and environmental experience available
to it. Greystar also has retained professionals, including Hart & Hickman, PC, who have
extensive experience in environmental matters and in brownfields assesments, work and
redevelopment. These individuals have worked directly with the Brownfields Program for
many years.
G. Does PD commit that it will comply (and has complied, if PD has had a prior project in the
NCBP) with all applicable procedural requirements of the NCBP, including prompt payment of
all statutorily required fees?
Answer Yes
(List all NCBP project name(s) and NCBP project ID numbers where PD or any parent
company, subsidiary and other affiliate of PD has been a party to.)
NA
H. Does PD currently own the property?
Answer No
If yes, when did PD purchase the property and from whom? (Provide name, address,
telephone number and email address of the contact person for the current
property owner.)
If no, provide the name, address, telephone number and e-mail address of the contact
person for the current property owner
Greystar intends to purchase Parcel #07301505 and a portion of Parcel #07301506 if the
property is deemed eligible for the Brownfields Program. Those parcels currently are owned as
follows:
Owner of Parcel #07301505 is:
RBC Corporation (c/o Wells Fargo Bank)
550 S. Tryon St., 301h Floor
Charlotte, NC 28262
c/o Lisa Oldham
[e-mail]
Owner of Parcel #07301506 is:
Packard Place Properties LLC (f/k/a Red City Properties, LLC)
222 S. Church St.
Charlotte, NC 28202
c/o Dan Roselli
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[e-mail]
I. If PD does not currently own the property, does PD have the property under contract to
purchase?
Answer Yes
If yes, provide date of contract. Date of contract for Parcel #07301505 is January 15, 2014. Date
of contract for Parcel #07301506 is January 27, 2014.
If no, when does the PD intend to purchase the property (e.g., after the project is determined
to be eligible for participation in the NCBP, after PD receives a draft BFA, after the
conclusion of the brownfields process)? Note: the Act requires the PD to demonstrate that it
intends to either buy or sell the property.
NA
J. Describe all activities that have taken place on the property since PD or PD's parents,
subsidiaries and/or other affiliates, and/or lessees or sublessees of PD, took ownership of or
operated at the property (e.g., industrial, manufacturing or commercial activities, etc.).
(Include a list of all regulated substances as defined at NCGS § 130A-310.31(b)(11) that have
been used, stored on, or otherwise present at the property while those activities were
conducted, and explain how they were used.)
Greystar has not commenced operations on the property. It has conducted certain due
diligence activities, including environmental assessments, on the property.
II. SITE INFORMATION
A. Information regarding the proposed brownfields property:
Proposed project name Third & Poplar
acreage 0.6 street address(es) 224 W. 3rd Street (Parcel #07301505) and a portion of
222 S. Church Street (Parcel #07301506)
city Charlotte County Mecklenburg zip 28202
tax ID(s) or PIN(s) 07301505, 07301506 (partial)
past use(s) A gas station (with three gasoline underground storage tanks [USTs])
previously operated in the southwestern portion of the property from the 1940s until the
1960s. An auto sales and service facility previously operated in the northwestern portion of
the property along S. Poplar Street from the 1920s until the 1960s. Prior to development of
these commercial properties, seven residential structures occupied the southwestern and
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northwestern portions of the site along W. 3rd Street and S. Poplar Street from as early as
the 1900s until the 1920s. In the 1960s, the gas station and auto sales/service facility were
demolished and the property was redeveloped as a surface parking lot.
current use(s) leased parking lot
cause(s)/source(s) of contamination:
known Previous gas station
suspected Former auto sales and service
B. Regulatory Agency Involvement: List the site names and all identifying numbers (ID No.)
previously or currently assigned by any federal, state or local environmental regulatory
agencies for the property. The ID No's may include CERCLIS numbers, RCRA generator
numbers for past and present operations, UST database, Division of Water Quality's incident
management database, and/or Inactive Hazardous Sites Branch inventory numbers. (In
many instances, the PD will need to actively seek out this information by reading
environmental site assessment reports, reviewing government files, contacting government
officials, and through the use of government databases, many of which may be available over
the internet.)
Agency Name/ID No: None
Agency Name/ID No:
Agency Name/ID No:
Agency Name/ID No:
Agency Name/ID No:
C. In what way(s) is the property abandoned. idled. or underused?
The majority of the property has been vacant and underutilized, used as a surface parking lot
since the prior buildings were demolished in the 1960s. The property is centrally located in
uptown Charlotte and is significantly underused relative to nearby high density and urban
properties in the uptown area, including the immediately adjacent Romare Bearden Park
maintaned by the Mecklenburg County Department of Parks and Recreation and the BB&T
Ballpark (a minor league baseball stadium).The property is ideally located within walking
distance of a variety of properties used for recreational, office, and dining purposes, yet has
not been developed to its full business potential. The planned high-rise mixed
residential/commercial redevelopment will provide a significant public benefit to the
surrounding uptown community and city as a whole.
D. In what way(s) is the actual or possible contamination at the property a hindrance to
development or redevelopment of the property (attach anv supporting documentation such as
letters from lending institutions)?
The presence of soil and groundwater contamination identified during assessment of the
property is a hindrance to redevelopment. Greystar and subsequent potential buyers would be
unlikely to invest in the redevelopment of the property without a brownfields agreement because
of the potential liability issues and challenges presented by resale of the property as the result of
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the contamination. As noted in Paragraph 11.F below, the property is proposed to be
redeveloped as a high-rise mixed use development. Before Greystar acquires the property and
incurs the substantial redevelopment costs associated with the project, however, it needs to
ensure that the property will be accepted into the Brownfields Program, and that it and future
owners and occupants will have the protections and benefits afforded by a Brownfields
Agreement. Further, the availability of equity and loan financing for the acquisition and
redevelopment of the property will likely depend on the property's entry into the Brownfields
Program. Thus, given the current condition of the property, brownfields protection is critical for
the safe redevelopment and success of the project.
E. In what way(s) is the redevelopment of the property difficult or impossible without a
brownfields agreement (attach anv supporting documentation such as letters form lending
institutions)?
Please see the response to Question 11.D above. Given the identified impacts to soil and
groundwater, Greystar believes that a brownfields agreement will be essential for the viable
and safe use of the property. To develop the land, Greystar's risk management strategy requires
that a Brownfields Agreement be secured for the purpose of liability management. Greystar
intends to proceed with its proposed acquisition and development of the property only if the
property is admitted into the Brownfields Program.
F. What are the planned use(s) of the redeveloped brownfields property to which the PD will
commit? Be as specific as specific as possible.
The property will be redeveloped as a high-rise building to be used for commercial purposes
at the street level and on lower floors and for residential purposes on higher floors. The
building design will include underground parking. Greystar is currently committed to carrying
out the predevelopment and development phases of the project, as well as management of
the completed project in the near term.
G. Current tax value of brownfields property: $2,759,900 (Parcel #07301505); $13,355,200
(Parcel #07301506, although note that this parcel includes an office building [222 S. Church
St.], parking deck, and other site improvements not located on the subject site).
H. Estimated capital investment in redevelopment project: $Greystar has provided a response
to this item in a separate confidential transmission submitted along with this brownfields
application. As explained in further detail in that transmission, Greystar requests that this
information be handled as business confidential information pursuant to the North Carolina
Public Records Act and accordingly kept in a confidential file and not disclosed as a public
record in connection with this brownfields project.
I. List and describe the public benefits that will result from the property's redevelopment. Be as
specific as possible. (Examples of public benefits for brownfields projects include job creation,
tax base increases, revitalization of blighted areas, preserved green space, preserved historic
places, improving disadvantaged neighborhood quality-of-life related retail shopping
opportunities, affordable housing, environmental cleanup activities or set asides that have
community or environmental benefits. In gauging public benefit, NCBP places great value
upon letters of support from community groups and local government that describe
anticipated improvements in quality of life for neighboring communities that the project will
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bring about. The inclusion of such support letters with this application is recommended and
encouraged.)
The property is located in an area of uptown Charlotte that currently is undergoing significant
revitalization, including the completion of a major city park and minor league baseball ballpark
within the past year. This project's prominent building will be located directly adjacent to these
properties and will complement the public benefit already provided by those uses. The
redevelopment of the property in this area will, among other things:
(a) Maintain and increase the tax base, including both increased property tax base and taxes
associated with increased economic activity;
(b) Create numerous construction jobs, and several permanent jobs associated with the
management of the development (i.e. maintenance, property managers);
(c) Provide housing opportunities to numerous individuals and families residing and potentially
working in the uptown area;
(d) Provide positive social impacts on the surrounding business and recreational communities;
(e) Provide positive economic impacts on the surrounding community and businesses;
(f) Spur additional development and investment in the community, resulting in further tax base
and employment opportunities; and
(g) Invest in smart growth through use of land in an already-developed area, which avoids
development of land beyond the urban fringe.
Special Note: Please describe all environment-friendly technologies and designs PD plans
to utilize in its redevelopment strategy. For example, environment friendly redevelopment
plans could include: Leadership in Energy and Environmental Design (LEED) Certification,
green building materials; green landscaping techniques such as using drought resistant
plants; energy efficient designs, materials, appliances, machinery, etc.; renewable sources of
energy, and/or recycling/reuse of old building materials such as brick or wood.
Greystar intends to consider a variety of enivronmentally-friendly development techniques
and project enhancements as part of this development effort. As the plans for development
are preliminary, no firm decisions have been made at this time, but at this time, Greystar
intends to pursue LEED Certification for the project.
J. Who will own the brownfields property when the Notice of Brownfields Property is filed with
the register of deeds at the conclusion of the brownfields process? (If information is the
same as 1.A. above, please indicate.)
Name Greystar anticipates that either it (see Paragraph 1.A) or a to-be-
formed, wholly-owned single-purpose entity will own the property at the conclusion of the
brownfields process, but it has not made a final decision at this time.
Mailing Address
E-Mail Address
Phone No.
Fax No.
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Ill. OTHER REQUIRED INFORMATION
A. Brownfields Affidavit: PD must provide its certification, in the form of a signed and
notarized original of the unmodified model brownfields affidavit provided by NCBP, that it
did not cause or contribute to contamination at the property and that it meets all other
statutory eligibility requirements. (Note: The form to use for this affidavit is attached to this
application. It must be filled out signed notarized, and submitted with this application.)
Is the required affidavit. as described above. included with this application?
Answer Yes. Please see Exhibit A.
B. Proposed Brownfields Agreement Form: PD must provide the completed form Proposed
Brownfields Agreement. (Note: The form to use for this document is attached to this
application. It must be filled out, initialed, and attached on your submittal.)
Is the required Proposed Brownfields Agreement , as described above, included with this
application?
Answer Yes. Please see Exhibit B.
C. Location Map: PD must provide a copy of the relevant portion of the 1 :24,000 scale
U.S.G.S. topographic quadrangle map that shows the property clearly plotted, and that
measures at least an 8 112 by 11 inches. (Note: these maps can be purchased through the
above link, or often through retail outdoor recreation stores that can print out the relevant
map. Often environmental reports have location maps that use this type of map as the base
for its location map.)
Is the required location map included with this application?
Answer Yes. Please see Exhibit C.
D. Survey Plat: PD must provide a preliminary survey plat of the brownfields property with the
property boundaries clearly identified, and a metes and bounds legal description that
matches the property description on the plat. At this stage of the brownfields process; one
or more existing survey plats from a previous property conveyance will suffice. (Before the
brownfields project enters the public comment phase of the brownfields process, the PD will
be required to submit a final brownfields survey plat which includes the information listed in
the brownfields survev plat guidance.)
Is the required preliminary survey plat included with this application?
Answer Yes. Please see Exhibit D. A metes and bounds legal description will be
provided when the attached survey plat is updated to define the portion of Parcel # 07307506
that Greystar will acquire.
E. Site Photographs: PD must provide at least one pre-redevelopment photograph of the
property, in either hard copy or electronic format that shows existing facilities and
structures. Please note that the NCBP prefers to have electronic photos instead of or
in addition to hard copies. Electronic copies of photographs should be emailed to:
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[e-mail] with a clear indication as to which Brownfields
Application they apply to.
Are photographs of the property included with this application?
Answer Yes. Please see Exhibit E.
Have electronic copies of the photographs been emailed to NCBP?
Answer Yes.
F. Environmental Reports/Data: If it makes an affirmative eligibility determination, the NCBP
will request that PD provide any and all existing environmental reports and data for the
property on CD only. The brownfields process may be expedited if PD submits such
reports/data with this application.
Are any environmental reports/data being submitted with this application?
Answer Yes. Please see the disc attached as Exhibit F.
If environmental reports/data are being submitted with this application. please provide the title.
date and author of each item being submitted:
-Phase I ESA, Office Building, 222 S. Church St., prepared by Hart & Hickman, dated
11/3/10
-Phase II ESA, Office Building, 222 S. Church St., prepared by Hart & Hickman, dated
11/17/10
-Phase I ESA, Parking Lot {Lots 1 and 2), W. 3rd Street and S. Poplar St., prepared by
Hart & Hickman, dated 3/14/14
IV. ADDITIONAL REQUIRED FORMS
The following forms are to be filled out and submitted with the application including the
Responsibility and Compliance Affidavit and the Proposed Brownfields Agreement.
Submittal of the Affidavit requires signature and notarization, and the Proposed
Brownfields Application requires an initial.
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EXHIBIT A
EXHIBITB
Preliminary Proposed Brownfields Agreement
I. Property Facts
a. Property Address( es): 224 W. 3rd Street and 222 S. Church Street, Charlotte, NC 28202
b. Property Seller: RBC Corporation c/o Wells Fargo Bank and Red City Properties, LLC
c. Property Buyer: Greystar GP II, LLC
d. Brief Property Usage History: A gas station (with three gasoline underground storage tanks
[USTs]) previously operated in the southwestern portion of the subject site from the 1940s until
the 1960s. An auto sales and service facility previously operated in the northwestern portion of
the property along S. Poplar Street from the 1920s until the 1960s. Prior to development of these
commercial properties, seven residential structures occupied the southwestern and northwestern
portions of the site along W. 3rd Street and S. Poplar Street from as early as the 1900s until the
1920s. In the 1960s, the gas station and auto sales/service facility were demolished and the
property was redeveloped as a surface parking lot.
e. The planned reuse will potentially involve the following use classification(s) (check all that
apply):
D School/childcare/senior care
~
~
D
D
D
D
D
D
D
Residential
Commercial, retail (specify)
Other commercial (specify)
Office
Light industrial
Heavy industrial
Recreational
Open space
Other (specify)
II. Contaminant Information
a. The contaminant situation at the property is best described by the following (check all that
apply):
~ Contaminants are from an on-property source(s)
D Contaminants are from an off-property source(s)
~
D
Contaminants are from an unknown source(s)
Contaminants have not yet been documented on the property
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EXHIBITC
EXHIBITD