Professional Documents
Culture Documents
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Woodmont Properties
Section I:
Section II:
General Information/Administrative
(pursuant to RFP Section 3.9.6 and 3.9.7)
Section III:
Financial Qualifications
(pursuant to RFP Section 3.9.8)
Section IV:
Technical Qualifications
(pursuant to RFP Section 3.9.9)
Section V:
Section VI:
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Woodmont Properties
Section I: Executive Summary & Acknowledgment of
Addenda (pursuant to RFP Section 3.9.5)
Executive Summary
Woodmont Properties is pleased to present its response to the Boroughs request for
proposals. This exciting location provides the Borough with an opportunity to be on the vanguard of
Bergen Countys transit-oriented redevelopment and Woodmont Properties hopes to be part of the team.
While transit-oriented development is now very much in vogue, Woodmont has been designing and
building downtown transit development for nearly fifteen years. Tab VI provides a more detailed
description of Woodmonts transit-oriented portfolio.
Woodmont Properties proposes to construct three residential floors above podium style
parking. At grade will be 190 parking stalls together with approximately 8,000 sq. ft. of street retail. The
second, third and fourth floors of the structure will include between 95 100 luxury apartment homes, all
of which shall be either studios, 1BR or 2BR residences (assuming some inclusionary affordable
housing, a small number of 3BR units may be necessary to meet the states UHAC affordable matrix).
Each home will be equipped with quartz counter tops, stainless appliances, 9 ceilings, walk-in closets
and distinguished master suites.
The podium parking (at grade) shall include 190 parking stalls. Woodmont envisions the
parking breakdown as follows: 126 reserved residential spaces and 64 shared commuter / retail spaces.
There may be a significant opportunity for additional shared parking once the plan is advanced.
Woodmont strongly believes that this site works best with a single building parallel to the train
tracks and Kinderkamack Road. The Woodmont concept is attached as part of Tab V. While Woodmont
would consider building the Boroughs suggested plan, including a parking structure in the middle of the
site, it believes this design results in too many interior views and misses the opportunity for the
project to spread its wings along Kinderkamack Road. The Boroughs suggested design is also included
as part of Tab V.
Executive Summary
Due to the horizontal nature of the Woodmont building design, it will be important to break the
faade vertically using bay windows, material changes and balconies. Of course, quality materials
including stone or brick, metal standing seam roofing and quality windows will be required along the
Kinderkamack Linwood Avenue faades.
Since the building will be in the heart of the Emerson downtown, special amenities will be
proposed, most notably a Soho style roof top amenity deck atop the proposed Kinderkamack retail.
These types of amenity spaces were made popular as part of lower Manhattans ascendancy into prime
hip real estate. Woodmont has successfully adopted these outdoor spaces in both its Red Bank and
Metuchen downtown designs. Features such as a hot tub, fire pit and outdoor bar will provide residents
with a first class residential experience.
While the retail square footage is somewhat less than suggested in the RFP, the Woodmont
plan includes seven outdoor, at grade parking spaces, which will be invaluable to the planned retail. Too
often, in town mixed-use retail suffers from a lack of visible, easily accessible parking. While most of the
retail parking will be handled in the podium, this easy access parking will be hugely desirable and
critical to the retail success.
Woodmont takes great pride in working closely with municipalities to achieve a desirable
architectural style to fit within the existing downtown while raising the bar for all future development. A
review of recently completed projects at Tab IV demonstrates the companys flexibility in customizing
buildings to fit the individual personality of the existing downtown. Rather than taking something off
the shelf, Woodmont proposes to present a number of facade options to the community after first
gaining a sense of Emersons existing styles and determining what fits best in this very important
location. Tab IV should provide the community with great comfort that the ultimate faade design will
make this project the envy of Emersons neighbors along Kinderkamack Road.
Acknowledgement of Addenda
Woodmont Properties
Section II: General Information/Administrative
(pursuant to RFP Section 3.9.6 and 3.9.7)
A.
B.
C.
D.
E.
Woodmont Properties
100 Passaic Avenue, Suite 240
Fairfield, NJ 07004
(973) 316-9400
No parent company
See attached biographies
No joint ventures are planned at this time
Woodmont Properties
1.
Eric Witmondt, Chief Executive Officer
Lewis Zlotnick, President
David Trager, Chief Investment Officer
Stephen Santola, Esq., Executive Vice President
& General Counsel
2.
Eric Witmondt, 100%
Woodmont Properties
100 Passaic Avenue, Suite 240
Fairfield, New Jersey 07004
3.
No criminal or environmental complaints
A.
B.
C.
D.
E.
F.
No legal proceedings
Never disqualified or prevented from bidding
No government project defaults
No officers have refused to testify
No joint ventures planned at this time
Woodmont Properties, LLC (Woodmont), celebrating 50+ years in business, is a New Jersey
limited liability company based in Fairfield, NJ. Privately held, well-capitalized, experienced and second
generation, Woodmont takes great pride in the communities it builds, invests in, owns and manages. Its
success during the past 50 years is a reflection of the quality of its professionals, management
construction and community outreach.
Woodmont Properties is a regional real estate company that develops, builds, markets and
invests in a diversified range of real estate. Woodmont's portfolio of residential and commercial
developments and investments includes multifamily rental homes (including infill, TOD and suburban),
mixed-use downtown redevelopment, for-sale homes (single family detached and town home),
hospitality, retail, industrial, flex and office. The companys growth over the past fifty years is a direct
result of the combined experience of ownership and professional staff. Woodmont has a tradition of
personal and corporate integrity, a focused pursuit of new opportunities in the real estate market-place
and established relationships within the industry. Together these have been the foundation of
Woodmonts success.
Woodmont is a multi-disciplined organization with in-house expertise specializing in land
entitlements, development, design, construction, asset management, marketing, capital markets,
accounting and legal. Woodmonts delivery of these services using in-house expertise helps to ensure
that opportunities are delivered on-time and on-budget.
Since Woodmonts establishment in 1963 by Donald Witmondt, Woodmont Properties has
contributed to the region's residential and commercial market-place. Under the current leadership of
Donalds son, Eric Witmondt, Woodmont's scope of development activity, as well as its portfolio of
residential and commercial properties, has accelerated and been enhanced by the addition of a variety of
mixed-use infill, multi-family, and neighborhood redevelopment projects.
As Chairman, Mr. Witmondt has been active in New Jersey real estate for more than 50-years. Throughout his career,
he has purchased and developed high quality residential and commercial properties and, in the process, has earned an
outstanding reputation among his peers and financial community. His experience in the real estate industry along with
his unparalleled level of expertise provide the basis for significant contributions in such areas as site design, land
approval and land development. Among his most significant contributions to the company and its personnel, however,
are his insights and guidance gained from his years of hands-on activity with clients, contractors, vendors, and
professionals on every level. Mr. Witmondt is a graduate of Lehigh University.
Eric Witmondt, Chief Executive Officer
Mr. Witmondt is responsible for the rapid expansion of Woodmont Properties' redevelopment, infill, multifamily and
commercial development operations. Under his leadership, the company has grown to be one of New Jersey's most
active developers with commercial developments and acquisitions in excess of 3,000,000 square feet completed in the
past two years and more than 2,600 residential units in construction or the design stage. As CEO, Mr. Witmondt
directs the companys short- and long-range planning and strategic direction. Mr. Witmondt began his career with
Cushman & Wakefield, where he was a top-producing broker. Following C&W, he established Associated Realty, Inc.,
a leading New Jersey commercial real estate brokerage firm. In 2000, Associated Realty, Inc. merged with GVA
Williams, an international real estate services company headquartered in New York, and assumed the name, GVA
Williams of NJ, with Mr. Witmondt as its CEO. Mr. Witmondt is a graduate of the University of Maryland. Eric has been
recognized by NJBIZ Real Estate Report Power 50 ranking in 2010 through 2014 and ranked #6 in 2015.
Lewis Zlotnick, President
Mr. Zlotnick is responsible for Woodmonts strategy implementation and management of the company's operations.
He, also, oversees the activities of both the Development and Construction Divisions, which include due diligence,
approvals, site development and vertical construction of residential and commercial properties. In addition, Mr. Zlotnick
is responsible for policies, administration and personnel. Mr. Zlotnick brings to this position over 30-years of
experience in business management, real estate development and construction, serving Woodmont Properties since
1992. Mr. Zlotnick earned a Bachelor of Science degree and Master of Business Administration degree from New York
University, and is a Licensed Real Estate Broker in the State of New Jersey.
Mr. Santola manages the company's legal affairs and entitlements. He, also, plays a significant role in managing the
development division, guiding new business opportunities and formalizing corporate strategy. Mr. Santola manages the
company's government relations and legal insight. Prior to joining Woodmont, Mr. Santola was a partner with the law
firm of Lindabury, McCormick & Estabrook, specializing in real estate, land use, zoning and commercial litigation. He
has served as both a member on, and attorney for, municipal land use boards, and he has represented parties in
various application appeals and related litigation. He is a graduate of Colgate University and received a Juris Doctor
degree, Cum Laude, from Seton Hall University. Mr. Santola is a member of the Essex County, New Jersey, and
American Bar Associations, and is, also, admitted to practice in the State of New York.
Woodmont Properties
Section III: Financial Qualifications
(pursuant to RFP Section 3.9.8)
Financial Information
A. Woodmont typically provides equity and the balance of necessary funds will be through debt from our
standard pool of lenders.
B. Financial References attached
C. Woodmont Properties has completed construction of over $300 million of real estate in the past six
years. All Woodmont projects, both completed and ongoing, have the necessary builders risk
insurance to satisfy project lenders.
D. The list of projects, completed and ongoing, at Tab #IV, speaks for itself.
E. N/A
F.
Woodmont typically provides its own equity in percentages required by project lenders. On certain
occasions Woodmont has employed the use of a Friends and Family fund to match Woodmont equity.
This fund is an investor pool only and has no management rights relating to the project investment.
G. Woodmont has provided its own equity in every project detailed in Tab IV.
Financial References
Kevin Cummings
President & CEO
Investors Bank
101 John F. Kennedy Parkway
Short Hills, NJ 07078
(973) 924-5104
Gerry Lipkin
President & CEO
Valley National Bank
1455 Valley Road
Wayne, NJ 07470
(973) 305-4001
Chris Martin
President
Provident Bank
100 Wood Avenue South
P.O. Box 1001
Iselin, NJ 08830-2727
732-590-9200
Paula Mandell
Regional President
M&T Bank
303 South Broadway, Suite 130
Tarrytown NY 10591
914-366-8504
J. Richard Litton
Vice President
PNC Real Estate Finance
18th Floor - J3-JTTC-18-6
Two Tower Center Blvd
East Brunswick, NJ 08816
(732) 220-6963
Woodmont Properties
Section IV: Technical Qualifications
(pursuant to RFP Section 3.9.9)
A Summary of project information is
annexed as Tab IV
Washington Township, NJ
330 Luxury Apartments; 130,000 Sq. Ft. of Commercial Space
Metuchen, NJ
273 Luxury Apartments
12,000 Sq. Ft. of Retail
Woodmont
Mixed Use
Communities
West Side Lofts
Red Bank, NJ
91 Luxury Apartments
28,000 Sq. Ft of Retail
Cranford, NJ
Woodmont Station, 163 Luxury Apartments
36 Luxury Condominiums
20,000 Sq. Ft. Zagat Rated Bar / Restaurant
Vail Mansion - Morristown, NJ
76 Condominiums
50,000 Sq. Ft. of Retail
40 Park - Morristown, NJ
Morristown
Interiors and Finishes
Quartz Countertops
Walk-in Closets
Stainless Appliances
Stall Showers
Pet Friendly
2015
Red Bank, New Jersey
91 luxury apartments (downtown)
28,000 sq. ft. retail, including state of the art brew pub
Partner: Metrovation, Red Bank, NJ
Construction Lender: Valley National Bank
Permanent Financing: M&T Bank
Professionals:
o Architect: David Baker, Sonnenfeld & Troccia
o Engineer: Maser Consulting
o Interior Designer: BG Studios, New York, NY
General Contractor: Woodmont Properties, LLC
Management: Woodmont Management, LLC
Total Project Cost: $32 Million
2014
Cranford, New Jersey
163 luxury apartments (downtown)
Partner: None
Construction Lender: PNC Bank
Permanent Financing: Investors Bank
Professionals:
o Architect: Sonnenfeld & Troccia
o Engineer: SESI, Inc.
o Interior Designer: BG Studios, New York, NY
General Contractor: Woodmont Properties, LLC
Management: Woodmont Management, LLC
Total Project Cost: $33 Million
2013
Hanover, New Jersey
126 luxury apartments with clubhouse, pool and fitness center (infill)
Partner: None
Construction Lender: Webster Bank
Permanent Financing: Valley National Bank
Professionals:
o Architect: Barton Partners, LLC
o Engineer: Omland Engineering, LLC
General Contractor: Woodmont Properties, LLC
Management: Woodmont Management, LLC
Total Project Cost: $28 million
2012
Palmer Township, Lehigh Valley, Pennsylvania
216 luxury apartments with clubhouse, pool and fitness center
Partner: None
Construction Lender: Provident Bank
Permanent Financing: Investors Bank
Professionals:
o Architect: Barton Partners, LLC
o Engineer: Fenell Engineering
General Contractor: Woodmont Properties, LLC
Management: Woodmont Management, LLC
Total Project Cost: $27 Million
Woodmont Properties
Section V: Proposed Development Plan
(pursuant to RFP Section 3.9.10)
Woodmont Properties
Section VI: Supplemental Information
(pursuant to Section 3.9.11)
Over the past decade, Woodmont Properties has built a reputation as one of the leading transit-oriented
developers in New Jersey. Beginning in Morristown in 2003, Woodmont has designed and built seven transit-oriented
developments, including:
1.
Morristown Transit Village The first Transit Village built entirely on N.J. Transit
property, including 208 luxury rental homes and nearly 10,000 sq. ft. of retail;
2.
Vail Mansion Located two blocks from the Morristown Train Station, this mixed-use
development is now also home to one of New Jerseys top rated restaurants;
3.
Epsteins Department Store Located four blocks from the Morristown Train Station and set
perfectly on the Morristown Green, this square block redevelopment project consists of five
separate phases, 250 luxury rentals and condominiums and over 60,000 sq. ft. of first class
retail;
4.
West Side Lofts Located one-half block from the historic Red Bank Train Station, this project
actually shares parking with N.J. Transit commuters. It includes 91 luxury rentals, 28,000 sq. ft.
of retail and a first-of-its-kind brew pub;
5.
Woodmont Metro Located on the Boroughs former commuter parking lot, this 273 luxury
home transit village promises to transform downtown Metuchen. The redevelopment includes a
750 car parking structure, 12,000 sq. ft. of retail and a half acre public piazza for community
events;
6.
Woodmont Station Located approximately 4/10 of a mile from the busy Cranford Train
Station, this building includes 163 luxury homes together with a best in class amenity package
and a daily shuttle to the train;
7.
South Amboy Transit Village Located in the heart of busy South Amboy only 4/10 of a mile
from its new train station and .2 of a mile from the planned ferry shuttle service to Manhattan,
this mixed-use redevelopment project included a multi-million dollar environmental remediation
and a now open, much needed nursing home on site. The 126 luxury rental town-home
community phase is scheduled to begin construction this summer.
Over the course of constructing these many transit-oriented projects, Woodmont has developed an
outstanding working relationship with N.J. Transit and its real estate team. Such a working relationship is vital to the
success of any project located at a train station or along N.J. Transit tracks.
2010
Best Multi-Family Housing over $500,000
Community of the Year Multi-Family Mid/High Rise Housing
2015
Garden State Awards
Property Management Company of the Year