VILLAGE WEST VILLAS & PLAZA

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1 VILLAGE WEST VILLAS & PLAZA Town of Emerald Isle REQUEST FOR PROPOSAL Islander Drive Redevelopment Presented by A-Team Enterprises, LLC February 16, 2018

2 VILLAGE WEST VILLAS & PLAZA Welcome to VILLAGE WEST Villas and Plaza, a live, work, play, mixed-use community, a perfect fit for the lifestyle and culture of Emerald Isle. One can find his or her perfect destination at Village West, a community bustling with beach goers, homeowners, retail shops and boardwalk strollers. This vibrant new development promises to be a highly desirable destination in Emerald Isle. Envision a quaint main street or boardwalk of yesteryear located on the Crystal Coast with close proximity to sand under your feet or a dip in the ocean, a modern fresh approach to the re-development of Emerald Isle Drive. It will compliment the surrounding area, bringing new visitors to the island year round. Meeting the standards of smart growth, vacationers will find many choices to include green spaces, broad boardwalks, single-family dwellings, and multi-use and retail spaces. This project will provide a quality environment in which to reside and work. It will be a contained community on the inside and an active boardwalk atmosphere on the outside, offering shops and food venues, a notable enhancement for visitors to Emerald Isle - Samer Hamad * subject to change property name, renderings are subject to change

3 Benefits of Village West It is estimated that as much as 33% of the population would like to live in a contained mixed-use neighborhood. Such neighborhoods offer a sense of community for business owners, residents and visitors. Convenience is key! Walk or take a short drive to enjoy shopping, dining, bike riding, strolling on the boardwalk or a walk on the beach. Many millennials and retirees are attracted to the urban feel the project offers, yet away from the hustle and bustle of the city. This project would provide increased property tax revenue, estimated at a minimum of $8 million. In addition, it would provide increased sales tax revenue. A fresh new development will attract new visitors to Emerald Isle, giving them a reason to choose Emerald Isle over other beach destinations. Village West will revitalize, continue the growth of and positively transform the appearance Emerald Isle Drive.

4 Interior Courtyard VILLAGE WEST

5 ON THE BOARDWALK VILLAGE WEST

6 SINGLE UNIT HOMES/ VACATION RENTAL VILLAGE WEST

7 Proposed Option 1 Deed existing Islander Conference Center 4000 square foot meeting/banquet space 1000 square foot meeting/banquet space 1800 square feet of open/ lobby space with restrooms Total Square Footage 6800 square feet Build upgraded entrance with Porte-Coche re to face Public Beach access *estimated value of the above $500,000 $350,000 purchase for property acres Combined total value $850,000 ($500,000 + $350,000) Build out of Village West Villas & Plaza

8 PROPOSED OPTION 2 Deed existing Islander Conference/ Center 4000 square foot meeting/banquet space 1000 square foot meeting/banquet space 1800 square feet of open/ lobby space with restrooms Square Footage 6800 square feet Build additional 3000 square feet in meeting/banquet space *estimated value of addition $350,000 Total Square footage with additions 9800 square feet *estimated value $850,000 Build upgraded entrance to face Public Beach access $0 outlay for property acres Build out of Village West Villas & Plaza Bump out of Conference/ Banquet- Center proposed addition Additonal 3000 square foot space

9 PROPOSED OPTION 3 Parcel 201 Under Contract For Purchase by A-Team Enterprises, LLC Combination of Parcel 201 and Parcel 203 Islander Drive creates a parcel of 2.62 acres Build out of Village West Villas & Shopping Plaza Multi-use live-work-play-visit community Public shopping and food venues Single Family Homes $800,000 property acres or Upgrade of Islander Drive estimated at $100,000 and purchase property acres for $700,000 This option does not include ownership in the Islander Conference Center.

10 er Island Drive FOOTPRINT VILLAGE WEST Villas & Shopping Plaza e Louis e Avenu

11 PROPERTY PHYSICAL ADDRESS 201 Islander Drive in all options Carteret County Property Data Parcel Number: Inquiry Date: 2/13/2018 DISCLAIMER: For confirmation of the number of buildings on each parcel, please contact the Carteret County Tax Office. Owner/Property Info Building Info Parcel Number: Baths: 1.5 Owner: CAPE EMERALD PROPERTIES LLC Bedrooms: 0 Physical Address ISLANDER DR Condition: N/A EMERALD ISLE NC Exterior Walls 1: VINYL LAP Mailing Address: 409 ANITA FORTE DRIVE Exterior Walls 2: N/A CAPE CARTERET NC Floor Finish 1: CARPET Legal Description: LOT PART S3 B42 EMERALD ISLE Floor Finish 2: SHT VINYL Deed Book: 1083 Foundation 1: CONC BLOCK Deed Page: 1 Foundation 2: CONC BLOCK Plat Book: 0 Plat Page: 0 Sale Date: Heat: NO INFO Sale Price: 0 Roof Cover 1: COMP SHNGL Acreage: Roof Cover 2: COMP SHNGL Land Value: $235, Roof Structure: GABLE/HIP Building Value: $52, Square Footage: 935 Extra Feature Value: $14, Year Built: 2005 Parcel Value: $303, Click Here for Advanced Cards Sketches Property Under Contract

12 FINANCIAL RECOMMENDATION

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14 OTHER DEVELOPMENT PROJECTS -ISLANDER BEFORE The Islander Hotel & Resort renovation is an example of the quality of work members of A-Team Enterprises completed. The Islander is a completely remodeled oceanfront resort in Emerald Isle attracting visitors year after year. Whether you want to enjoy the beach or lounge by the pool, the Islander Hotel and Resort provides an atmosphere of relaxation and fun for all. It offers an expansive ocean front pool with cabanas, meeting and wedding space, adjacent park with volleyball courts and much more. The Islander is within walking distance of the proposed Village West Villas & Plaza

15 bask Hotel at Big Rock Landing BEFORE Formerly known as Harborview Towers, an assisted-living facility, bask Hotel is a welcomed addition to the Morehead City waterfront. It was completely renovated by A-Team Enterprises and has proven to be a great success. The transformation reflects the vision of A-Team to bring upscale, quality and revenue-generating businesses to the Crystal Coast. All of the partners are long-term residents of Carteret County and continue to look for opportunities for the betterment of their community. Before kitchen

16 ADRIAN HOLLER A-Team Enterprises, LLC Financial Consultant and Strategic Advisor Professtional Profile Adrian Holler serves as chairman and is an owner of Big Rock Sports, LLC, the largest distributor of fishing and shooting sports products in North America. A well-known name to many hunting and fishing retailers, Holler has been heavily involved in the hunting and fishing sporting equipment industry since he joined Henry s Tackle Company, Morehead City, in 1983 as the company s first sales manager. From there he became President and CEO of the group of distribution companies that ultimately became Big Rock Sports. Holler has or is currently serving on the boards of American Sportfishing Association, Take A Kid Fishing Foundation, The Wahoo Challenge, Crystal Coast Hospice House and Wachovia Bank of Morehead City. Aside from the sporting goods industry, he is an investor, both financially and strategically, in the betterment of the community in residential and commercial properties, to include Bask Hotel and Islander Hotel and Resort. Holler is an avid fisherman and two-time winner of the Big Rock Blue Marlin Tournament. A Carteret County native for more than forty years, he resides with his wife, Annette, in Morehead City. Both of their two sons, Adrian and Aaron, are graduates of NCSU. Holler is a graduate of Guilford College, Greensboro, NC. Professional Affliations American Sport Fishing Association Board for Take A Kid Fishing Foundation The Wahoo Challenge Crystal Coast Hospice House Wells Fargo Bank Morehead City, NC *Currently serves on the Boards for the above

17 SAMER HAMAD A-Team Enterprises, LLC Real Estate Broker and Managerial Duties, City Of Emerald Isle Key Point Of Contact Professtional Profile Samer Hamad of Hamad Realty was raised in Morehead City, North Carolina where he attended public schools and graduated from West Carteret High School in He also attended the University of North Carolina at Wilmington and graduated with a Bachelors Degree in Business. Samer is currently the Owner/ Broker of Hamad Realty located in Morehead City. Hamad Realty specializes in Commercial properties as well as residentail home sales. He entered real estate after following in his fathers footsteps. Because he is a long time resident of Carteret County he is familiar with the area, its revenue streams and landscape. His experience in addition to real estate is extensive including owner/ operator of six Dairy Queens, acquisitions, ownership and management of hospitality properties such as The Palm Suites, The Islander and most recently the BASK Hotel. He and his wife Summer are well known members of the Carteret community, and he will tell you his greatest acheivement is his family which includes five wonderful children. Professional Affliations President of Belal, Inc President of SMZ, Inc DMA Chairperson for Greenville NC DQ Systems Wells Fargo Bank Morehead City, NC Member of Carteret County Chamber of Commerce *Currently serves on the Boards for the above

18 WILLIAM BROWN A-Team Enterprises, LLC Licensed General Contractor, Engineering and Architectual Consultant, Job Management Professtional Profile Bill Brown is President of Terrance J Enterprises Inc. dba Coastal Building, a commercial and residential building company based in Morehead City since Originally a native of New Bern. Bill began working in construction in the early 1980s in Morehead City and eventually relocated his family to Carteret County a few short years later. In Carteret County, Bill has expansive construction experience in excess of 500 residential homes and a number of commercial projects. Residential projects include the Meadows in Morehead City and Breakwater in Newport. Commercial development projects include Storage Ideas of Newport and Chelcie Place Shopping Center as well as Brandywine Crossing Shopping Center, in Morehead City. Other commercial developments include two Veterans Administration Outpatient Clinics located in Raleigh and Morehead City, the bask Hotel in Downtown Morehead City and the oceanfront Islander Resort in Emerald Isle. He remains partners in many of these prosperous communities and developments. Professional Affliations Unlimited Residential and Commercial Building License Carteret County Chamber of Commerce Previous Board Member Carteret County Homebuilders Association Boys & Girls Club of Carteret County Crystal Coast Hospice House *Member and Prior Board Positions

19 CURTIS STRUYK A-Team Enterprises, LLC Financial Consultant and Strategic Advisor Professtional Profile Curtis Struyk is the President of TMX Shipping Company located in Morehead City, North Carolina. TMX is an International freight forwarder that specializes in exporting wood products around the world. TMX is a full service company whose customer service representatives oversee every aspect of the shipping process, allowing their customers to focus on their core competencies. As an industry leader for 36 years, TMX is the largest exporter in the U.S., exporting over 60,000 containers on an annual basis. Curtis is a native of Carteret County graduating from East Carteret High School in He continued his education at East Carolina University where earned a Bacherlors Degree in Industrial Technology with a concentration in Construction Management. Curtis is involved in his community where he has dedicated his time and knowledge to local youth by coaching football. His partnership in the BASK Hotel and other projects in the county have only furthered his interest and desire to make the community in which lives and loves a better place for everyone. Professional Affliations Youth Football Carteret County Chamber of Commerce Downtown Development Council Economic Development Council *Member and Prior Board Positions

20 SUMMARY In summary, A-Team Enterprises is extremely excited to have the opportunity to be a part of the continued growth of Emerald Isle and any positive additons that can be made to Islander Drive. Projecting the town made their final decision by May 2018, Our group would like to close around August 2018 with construction slated to begin January of Occupancy could start the summer of 2019 with completion of summer There is no doubt having a live-work-play and even shop venue like Village West on Emerald Isle would be exciting not only for local residents but for new comers and visitors. We are eagerly looking forward to any questions or comments you may have for us. play work eat live Emerald Isle