PASADENA CIVIC CENTER PROPOSALPUBLIC PRESENTATION

September 22, 2020

BRIDGE HOUSING OVERVIEW

Song Bird – Portland, OR

Cedar Grove – Los Angeles, CASage Park – Los Angeles, CA

BRIDGE Housing – Quantity, Quality, Affordability

Since 1983, BRIDGE has:• Participated in the development of more than 18,000

homes and apartments in California, Oregon and Washington

• Approximately 12,300 apartments currently under property and/or asset management in its portfolio

• $3.8 billion in total development cost currently under construction and/ or in pipeline

• Consistently ranked among the top affordable housing developers in the nation by Affordable Housing Finance

• Focus on ensuring positive resident outcomes through hiring locally and providing transformational resident services

• Received more than 180 local, national, and international awards, including five ULI Global Awards for Excellence

St. Joseph’s Senior Apartments – Oakland, CA

Heritage Square Senior Apartments – Pasadena, CA

BRIDGE Housing

WHAT WE DO:• Real Estate Development• Property, Asset and Portfolio Management• Community Transformation at Scale• Resident Program and Services

Our mission: BRIDGE Housing strengthens communities and improves the lives of its residents, beginning—but not ending—with affordable housing.

Heritage Square – Pasadena, CA

Ivy at College Park – Chino, CA Anaheim & Walnut – Long Beach, CA Heritage Square – Pasadena, CA

BRIDGE Housing – Southern California Experience

Jordan Downs Phase 2 – Los Angeles, CA

Sage Park – Los Angeles, CA

Completed Projects City Completed Units

San Paulo Irvine 1993 382Villa Loma Carlsbad 1995 344Santa Alicia Irvine 1996 84Poinsettia Station Carlsbad 2000 92Terra Cotta San Marcos 2000 168Torrey Del Mar San Diego 2002 112Dove Canyon San Diego 2004 120Copper Creek San Marcos 2004 204Laguna Canyon Irvine 2005 120Windrow Irvine 2006 96Sage Canyon San Marcos 2006 72Woodbury Walk Irvine 2007 150Madera Vista Phase I Temecula 2011 20Pottery Court Lake Elsinore 2012 113Ivy at College Park Chino 2014 135Sage Park Los Angeles 2014 90Paseo at COMM22 San Diego 2014 130Victoria at COMM22 San Diego 2014 70Madera Vista Phase II Temecula 2014 60Celadon at 9th & Broadway San Diego 2015 250Heritage Square Senior Pasadena 2016 70Ivy II at College Park Chino 2017 200Madera Vista Phase III Temecula 2017 30Westview Village Phase 1A Ventura 2019 131Cedar Grove at Jordan Downs Los Angeles 2019 115

Total: 3,358

BRIDGE Workforce Development Outcomes

Heritage Square – Pasadena, CA

• Local Pasadena residents made up over 20%of the construction workforce

• 39% of all subcontracting opportunities wereawarded to local companies

• 81% of construction supplies procured fromcompanies located in Pasadena

Cedar Grove – Los Angeles, CA

• Local hire rate of 58% of the constructionworkforce totaling 103 jobs

• Average hourly construction wage rate of$29.23 was paid to the workforce whichresulted in an estimated $2.35MM of wageearnings

Cedar Grove – Los Angeles, CA

Heritage Square – Pasadena, CA

Proposed Project – Water & Power Site

Preliminary Site Plan – Ground Level

The Development Team acknowledges that the design of this project is subject to City approvals and if awarded, will welcome and consider public input of the project design.

Proposed Project – Water & Power Site

Preliminary Floor Plan – Level 2

The Development Team acknowledges that the design of this project is subject to City approvals and if awarded, will welcome and consider public input of the project design.

Preliminary Floor Plan – Level 3 & 4

Proposed Project – Water & Power Site

• Building height and scale built to complement historic YMCA &

YWCA buildings

• Maximum preservation of gardens (and large green setbacks)

• Focus on exceeding City local hire/ procurement goals

• Extensive community engagement process

• No variances or concessions needed to develop affordable

housing

• Minimal funding gap to resolve

• Cost effective building (i.e. no subterranean parking, four stories)

AFFORDABLE HOUSING PROJECT OBJECTIVES

Proposed Project – Affordable Housing Program

The Development Team is proposing to build a new construction building on the Water & Power site that will provide 72 affordable residences to Pasadena’s senior population.

Affordable Housing:

• Design that is complementary to the historic buildings that precede it in the context ofsurrounding neighborhoods.

• Building plan includes a ground floor entry lobby, a community room and leasing office, and 39covered parking spaces. Floors 2-4 will include 72 one-bedroom units averaging 570 SF / unit.

• The project will target seniors and 100% of the units will be set-aside for low-income households.• Given the compact site and various zoning ordinances, developing this project for Pasadena

seniors will provide the most affordable homes in this highly walkable area.• The following image provides massing and scale compared to the YMCA Building.• Design has not commenced yet and will include a robust community engagement process to

secure input of Pasadena residents.

TotalApartment Units: 72 Parking Spaces: 39 Floors 4 Community Areas: ~2,000 SF

Affordable Housing Building Program

Proposed Project – Water & Power Site

Holly Street Massing

The Development Team acknowledges that the design of this project is subject to City approvals and if awarded, will welcome and consider public input of the project design.

HRI PROPERTIES OVERVIEW

HRI is based in New Orleans, Louisiana and is thesuccessor entity to Historic Restoration,Incorporated, which was formed in 1982. HRI isdedicated to the pursuit of revitalizing cities with aniche of developing irreplaceable, iconic projects inurban areas with an expertise in the adaptive re-useof historic properties. HRI is a “one stop shop” forthe development of significant real estate projects,

especially those that have a larger synergisticimpact on a community. From conceptualization todesign; structuring and sourcing capital; managingregulatory and brand requirements; managingconstruction and operating the completed project;HRI possesses, in-house, all the expertise needed tosuccessfully execute large-scale developments andto ensure their continued operational viability.

HRI Properties, LLC (“HRI”) is a diversified, national real estate company engaged in the ownership, development and management of upscale branded and independent hotels, multifamily

apartments, mixed-use properties and mixed-income housing communities in urban markets.

HRI Properties

PipelineOwned Portfolio

13 2

9

Hotel

Apartment 0

Operating Under Construction

3

0

Total 22 23

* In the case where owned and managed properties overlap in the same state, shading representing owned properties is used. Source: Company’s information

Founded in 1982

+1,900 Employees

+$3 Billion Total Development Costs

43 Managed Properties for 3rd Parties

~1,000 / ~2,960 Hotel Rooms / Apartment Units

+90 Completed Development Projects

22 Owned Operating Properties

~3,000 / ~1,500 Hotel Rooms / Apartment Units

Company Snapshot

Owned Managed

Sausalito

San Francisco

Portland

Salt Lake City

Minneapolis (2)

Dallas (2)

Houston

Shreveport (2)

New Orleans (34)

Jackson

St. Louis (2)

BirminghamNashville (2)

Richmond

Philadelphia

New IberiaHouma (4)

Hammond

Under Construction/Pipeline

Indianapolis

Tampa

Pittsburgh

Austin

Managed

12

31

43

HRI Properties at a Glance

~6,000 / ~ 6,000 Hotel Rooms / Apartment Units

HRI Portfolio Overview

King Edward - Hilton Garden Inn (186) Miller & Rhoads Hilton (250)

Hyatt Place (230) / Hyatt House (115)

Marriott Autograph Collection (124)

Hotel (# of rooms)Apartment (# of units)Under construction

Nashville

Philadelphia

DallasJackson

New Orleans

Richmond

Shreveport

Minneapolis

Salt Lake City

Homewood Suites (207)

Denotes a state which has a apartment and hotel present

DoubleTree Suites (241)

Liberty Building ‒ Aloft (179)

Plymouth Building ‒ Embassy Suites (290)

DoubleTree Suites (229)

Strand ‒ Aloft (188) Hyatt Centric FQ (254)

Strand Apartments (192)

D.H. Holmes Apartments (97)

Hibernia Tower Apartments (175)

Gravier Apartments (132)

Mayflower Apartments (215)

LTV Tower Apartments (186)Standard Life/King Edward Apartments (140)

Miller & Rhoads Apartments (111)

Lee Hardware/United Jewelers Apartments (109)

Holston House ‒ Hyatt Unbound (191)

Hyatt Unbound (196)

1

2

3

2

3 4

4

5

6

5

8 9 12

6

8

9 11 12

14

14

15

15

16

17

16 17

18

18

19

19

20

20

21

21

22

22

13

13

7

LTV Tower ‒ Hilton Garden Inn (171)

Indianapolis1

10

7

25 23

23

25Pittsburgh

Hyatt Place (186) /Hyatt House (130)

24

Hilton Garden Inn (214)

24AustinTampa

11

10

26

Hotel Abri (91)

26

Casa Madrona (64)

27

27San Francisco / Sausalito

Third-Party Management

28St. Louis

The Last Hotel (142)

28

HRI – Qualifications and Experience

Fully integrated hospitality real estate company with full development, project management, and hotel management services in house

Have developed 12 hotels in the past five years, equaling approximately $600MM of development activity, primarily focused on Hilton, Hyatt, and Marriott branded hotels

Since 1982 the firm has completed over 90 projects representing over $3 billion in total development cost

Primary focus on lifestyle full service and select service properties, including all major soft brand options

Great relationships with all the major brands including Hilton, Hyatt, and Marriott

Experienced and diverse group of industry professionals that would be dedicated to this project from start to finish

Significant experience in ground-up development; adaptive re-use; and value-add acquisition

Expert in public-private partnerships and has worked closely with Cities and community stakeholders to ensure a project that benefits the community and its residents

HRI – Adaptive Reuse Experience

HRI is proud of its distinguished and decorated record for adaptively reusing vacant and blightedfacilities to spark neighborhood redevelopment and has enjoyed extensive engagement of keycommunity stakeholders in public-private partnership with State and local leadership. To date, HRIhas successfully completed 68 adaptive reuse projects.

King Edward Hotel—Jackson, MSBefore After

Aloft Hotel – New Orleans, LABefore After

Holston House Hotel – Nashville, TNBefore After

Aloft Hotel – Philadelphia, PABefore After

HRI – Historic Preservation Awards• 2019- Hyatt Hotels Corporation, Best Conversion Award, Eliza Jane Hotel• 2019- Boutique Design, Best Hotel Midscale & Best Lobby Midscale, Eliza

Jane Hotel• 2018- Marriott Hotels, Best Design Award, Aloft Philadelphia Adaptive Reuse• 2017- Preservation Dallas, Preservation Achievement Award, Mayflower

Apartments• 2016- Hilton Hotels, “New Build/Adaptive Reuse of the Year”, Embassy Suites

Minneapolis • 2016- Preservation Dallas, Preservation Achievement Award, LTV Tower• 2016- Louisiana Landmarks Society, Award for Excellence in Historic

Preservation, 225 Baronne Mixed-Use• 2014- Louisiana Landmarks Society, Award for Excellence in Historic

Preservation, Bywater Art Lofts• 2013- Downtown Development District of New Orleans, Best Downtown

Development Project, Hibernia Tower• 2013- Hyatt Hotels Corporation, Best Conversion Award, Hyatt French

Quarter and Hyatt Place Convention Center• 2012- National Housing & Rehabilitation Association, J. Timothy Anderson

Awards for Excellence in Historic Rehabilitation – Best Historic Rehab Utilizing LIHTCs

• 2010– National Preservation Honor Award• 2010– Best of Jackson Community, Best Change to the City and Best Project

Under Construction, King Edward/Standard Life• 2009- Louisiana Trust for Historic Preservation, Corporate Award, HRI

Properties• 2009- National Apartment Association, Paragon Award, Flint Goodridge

Apartments• 2009- South Central Construction, Award of Merit, Bywater Art Lofts• Finalist October 2008- Nation Housing & Rehabilitation Association, J.

Timothy Anderson Award for Excellence in Historic Rehabilitation, River Garden Historic Apartments

• 2007- The Hilton Family, Best Conversion, Hilton Garden Inn Convention Center

• 2007- National Apartment Association, Paragon Award, Cupples Station Apartments

• Nov 2006- Cityscape Award, Cupples Station Apartments• 2005- Mississippi Association Builders & Contractors, Excellence in

Construction Award, Hilton Garden Inn Commerce

• June 2003- The New Orleans Historic District Landmarks Commission, Honor Award Commercial Restoration, American Can Company Apartments

• 2003- National Apartment Association, Paragon Award, American Can Company Apartments

• June 2003- The New Orleans Historic District Landmarks Commission, Honor Award Commercial Restoration (Gary Meadows), American Can Company Apartments

• 2003- The New Orleans Historic District Landmarks Commission, Honor Award Restoration, American Can Company Apartments

• April 2003- Kimberly-Clark Corporation, Historic Preservation Award, The Renaissance Grand Hotel St. Louis, MO

• 2002- Brownfields Development, Phoenix Awards, American Can Renewal Project

• 2002- EPA Region 6, Phoenix Award, American Can Company Apartments

• 2001- Mayor Marc H. Morial’s, Golden Hammer Award, HRI Properties• Dec 2001- Greater New Orleans Business, Cice Award, St. Thomas

Demolition Phase I, II, III• Dec 2001- The Central Business District Historic District Landmarks

Commission, Merit Award Renovation, 1050 Constance Street• Dec 2001- The Central Business District Historic District Landmarks

Commission, Merit Award New Construction, 345 St. Joseph Street• Dec 2001- The Central Business District Historic District Landmarks

Commission, Merit Award Renovation, 819 Canal / 132 Dauphine / 834-40 Iberville Street

• Oct 1999- National Trust for Historic Preservation, National Preservation Award, HRI Properties

• April 1999- Preservation Texas, Clara Driscoll Award of Merit, Blackstone Hotel

• 1998- IREM (Institute of Real Estate Management), Communication and Marketing Award, 1st Place Non-print Advertising/ small properties

• July 1998- Louisiana Preservation Alliance, Preservationist of the Year, Maginnis Cotton Mill

• 1997-1998- The Vieux Carre Commission, The Good Neighbor Award for Design, The Chateau Sonesta Hotel

• 1996- Louisiana Preservation Alliance, Corporate Award, Restoration of Old New Iberia High, New Iberia, for Senior Citizen Housing

Proposed Project – YWCA Building & SiteThe Development Team is proposing to revitalize the blighted YWCA Building and adjacent land into a full-service, job creating, 179-key boutique hotel with meeting space, ballroom space, an outdoor courtyard and pool, and a full-service restaurant. HRI will be involved from conception as the owner, developer, and hotel manager.

YWCA Building:• The Development Team is proposing a substantial renovation of the YWCA Building that will

restore the historic building in a way that resembles and respects the building’s previous uses.• The hotel lobby will be located where the YWCA lobby was once located, the full-service

restaurant will be located in the previous YWCA cafeteria, and the ballroom and event spaces willbe in the YWCA’s former pool and gymnasium spaces. The upper floors of the historic buildingwill house 14 hotel guestrooms.

New Construction Building:• Separate but adjacent to the YWCA Building, The Development Team is proposing a five-story,

architecturally respectful new construction building with two exterior courtyards and a groundfloor pool.

• The new construction building will contain 165 guestrooms as well as back of house space. Thisbuilding will be designed and built in a way that is complementary and congruent to the historicYWCA Building and the Civic Center Historic District.

TotalHotel Rooms: 179 Historic Building Floors: 3 New Construction Building Floors: 5 Ballroom / Meeting Space (SF): ~10,000 SFOutdoor Patio Space (SF): ~16,000 SF

Hotel Building Program

Proposed Project – YWCA Building & Site

Preliminary Site Plan – Ground Level

The Development Team acknowledges that the design of this project is subject to City approvals and if awarded, will welcome and consider public input of the project design.

Proposed Project – YWCA Building & SiteMarengo Street Elevation

Garfield Street Elevation

The Development Team acknowledges that the design of this project is subject to City approvals and if awarded, will welcome and consider public input of the project design.

The Development Team

• Both HRI and Bridge have been sought out by cities and stakeholders to develop projects that multipleother companies have attempted and failed to complete. HRI and Bridge have a reputation of being the“last developer” given their experience and ability to execute.

• This Development Team has the extensive experience in leveraging public-private partnerships to ensurethe success and longevity of this project.

• If selected, the City will be working with two best-in-class organizations with unprecedented experiencethat is required for this type of redevelopment project.

HRI Properties and BRIDGE Housing will work together as joint developers of the Project, with HRIas the lead developer of the hotel and BRIDGE as the lead developer of the affordable housingbuilding.

BRIDGE Comparable Project – Heritage Square Pasadena, CAHRI Comparable Project – Aloft Hotel Philadelphia, PA

Proposed Project

• The Development Team will work cohesively and collaborate with local stakeholders throughoutall aspects of the project to ensure efficiencies and a compatible design aesthetic between eachbuilding and the historic Civic Center District.

• The projects will be designed within the design standards for the historic Civic Center Districtand take utmost care to preserve open space and gardens around the site.

• The Development Team has extensive experience in restoring iconic historic buildings anddeveloping new construction buildings in prominent historic districts and neighborhoods in away that satisfies all community stakeholders and results in a widely supported project.

HRI Properties and BRIDGE Housing are collaborating to propose a revitalization of the CivicCenter Historic District by transforming the vacant historic YWCA Building and site into a 179-keyboutique hotel and developing a 72-unit affordable housing building on the neighboringWater & Power site.

BRIDGE Comparable Project – Heritage Square Pasadena, CAHRI Comparable Project – Eliza Jane Hotel New Orleans, LA

Proposed Project – Community Benefits & Impact

The Development Team will work collaboratively with the City of Pasadena to ensure that the Project revitalizes and enhances the Civic Center Historic District while also creating permanent jobs for locals and affordable homes for residents of the community.

Construction Job Creation:

• Project will create approximately 475 construction jobs during the development of the hotel andaffordable housing projects.

• 100% of construction jobs will be paid prevailing wages and will adhere to local hire goals thathave been prioritized by the City of Pasadena.• BRIDGE Housing exceeded these goals at Heritage Square (20% of the construction

workforce from Pasadena, procured 81% of construction supplies from companies locatedin Pasadena, and awarded 39% of subcontracting opportunities to local companies).

Affordable Housing:

• BRIDGE has recent experience with developing affordable housing in Pasadena.• BRIDGE was selected to develop Heritage Square after unsuccessful progress by three other

developers.• Due to success with Heritage Square Phase 1, Bridge was sole sourced for the development of

Heritage Phase 2.• Will operate and provide supportive services to seniors in this community.• Proven track record with exceeding high bar set by City for local workforce and subcontracting.• Commitment to City of Pasadena and its residents.

Proposed Project – Community Benefits & Impact

Permanent Job Creation:

• Upon opening, the Development Team anticipates the hotel will create over 100 local permanentfull-time equivalent jobs.

• HRI Lodging, LLC, a subsidiary of HRI, has extensive experience in implementing job trainingprograms which supplement the hiring of low-income residents with no relevant work experience,and plans to implement similar job training efforts in Pasadena.

City Economic Benefit:

• The hotel project is estimated to generate over $185 Million in tax and revenue generation for theCity of Pasadena over a 50-year period.

Preservation of the YWCA Building / Activation of the Civic Center District:

• Through thoughtful and considerate design, The Development Team is proposing a meticulousrenovation of the YWCA Building as well as the construction of two additional buildings in theDistrict that will respect the notable architecture of the surrounding Civic Center Historic District.

• The redevelopment of the YWCA Building will introduce a ground floor use to the Civic CenterDistrict that is both active and dynamic. The boutique hotel will bring a lively, but deferential streetpresence to the district, with premier amenities accessible to both visitors and local Pasadenaresidents alike.

• Developing residential housing on the underutilized Water & Power site will further enhance andactivate the Civic Center Historic District by increasing the foot-traffic and neighborhood activity.

QUESTIONS?