LETTER OF INTEREST

FOR THE REDEVELOPMENT OF 125DUNNELL ROAD.

MAPLBWOOD. NJ

Submitted By Markbuilt Homes, December 17th,2008

CORPORATENAME AND ADDRESS:

Markbuilt Properties,LLC
2029Moris Avenue
Union,NJ 07039

www.Markbuilt.com

STATE OF INCORPORATION:

New Jersey

MANAGER:

MichaelMarkovitz

AUTHORIZATION TO DO BUSINESS:

Markbuilt Properties,LLC is domesticLLC duly licensedandauthorizedto do business

in New Jersey.It is alsofully insured.

EXPERIENCE AND OUALIFICATIONS :

Pleaseseethe attachedinformationalpackageentitled"The Crossingsat Maplewood

Village" which wasoriginally submittedto the DunnellRoadRedevelopment
Subcommittee on February16th,2006. Thispackagecontainsa CorporateOverviewof
Mark Built Homesandthe experience of its key mernbers.
CONCEPT FOR THE REDEVELOPMENT OF 125 DT]NNELL ROAD

We have concludedthat the highest,best, and most appropriateuse for the site would be
multi-family residential. A small upscalerental community is perfectly suited for the
site, for the following reasons.

l) Lack of supply. There are very few upscalerental options in Maplewood and the
surrounding towns. Gaslight Commons,a relatively new rental community in South
Orange,has had historically low vacancyrates.

2) Proximity to NJ Transit train. Many commutersare seekingplaces to live that would

not require driving to the train station.

3) Proximity to downtown Maplewood. Additionally, many people would benefit from

living within walking distanceto town, allowing them to shop, eat and enjoy all that
Maplewood has to offer without having to get into a car.

4) Proximity to the Park System.

5) Parking require'mentsfor residentialunits are greatestat off-peak times. During

commuting times, the residentswho drive to work would be leaving the area, creating
less of a burden on parking. Those residentsthat commuteby train would not add a
single car to streettraffic. This is exactly the opposite of what would happen if the site
were developed for retail or commercialuse. Many more cars would be coming into the
area and parking near the site at preciselythe time when there is the most traffic and the
least available parking.

6) Rental Housing is preferableto For-Salehousing near train lines. Peoplehave less of

an issuewith living adjacentto a train line when they are renting, preferring not to invest
their money in houseson train lines.

7) Residentialdevelopmentat this site will also benefit businessesin town. These

residentswill be spendingshoppingdollars locally.

8) A residential developmentwill help the town to meet part of its COAH obligation. By
creating a fair shareof low and moderateincome units within the project, Maplewood
will demonstrateits good faith in meeting its overall requirementsof aflordable housing.
 LAYOUT AND DESIGN CONCEPT

Included in this letter is the condominium conceptwe createdover 2 years

ago for the
site, which we called The crossings at Maplewood villuge. It was a 5l
unit
development,which included 3 storiesof townhouseand-single-story.rrrlrc
orr", a surface
parking level. The_Crossingswas a project that included the adjacent
office building as
part of the overall dev_elopment concept. However, conversationswith the owner of the
office building proved fruitless, and the conceptwas shelved.

The economic times are very different today than they were in 2006.
The demand for
expensivecondominiums has drastically decreased.ieople are looking
to downsize,
scaleback and save money where ever they can. Young professionahLe
seeking places
to live that keep them connectedto the City where theyivork, yet cost less
and offer more
spa:e than the high-priced apartmentsin New york, Jerseycity and
Hoboken. The
project we are proposing for I25 Dunnell Road meetsthe needs
ofthese yorrrr!
professionals. Additionally, this project will appealto empty-nesters
boting io downsize
out of their homes in Maplewood and the surroundingtowns, yet provide
ealy walkable
accessto downtown's shopping and dining.

Thenew Crossingsat Maplewood Village conceptwould include approximately

40-50
residential units ranging in size from 650 squarefoot studiosto l2dd+
square foot 2
bedroom dwellings. The nurnberof dwelling units is limited by the nurrib"1.
of on-site
parking spaceswe could provide, as well as the number of stories
we could build. We
anticipate that allparking would be built at streetlevel, beneath3 stories
of frame built
construction where the residenceswould be located. Overall building heighr;
anticipated to be 45 to 50 feet, which is well suited for the location
ui3u".it to the train
line and other commercial buildings. The architecturalstyle would
be very much in
keeping with the best elementsof the town and surrounding area.
Mark Built has always
employed the highest quality subcontractorsfor its homes ind townhome
communites,
and that practice would continue for this project.

KEY PERSONNEL

Michael Markovitz is the Managing Member and Presidentof Mark

Built Homes. He will
be responsible for all aspectsof constructionand design.

Jeffrey Markovitz is the in-house counsel,and will be handling the

negotiation of all
agreementswith the township.

Michael Lerman is the project manager,and will be the lead contact person
for all
communication between Maplewood and Mark Built.
FINAI\CIAL CAPABILITY

Currently, the Markovitz famlly portfolio includes in excessof 5,000 apartmentunits

throughout New Jersey,New York and Connecticut,as well as substantialinterests in
various shopping centers,office buildings, as well as the 383 roomNewark Airport
Hilton Hotel. Additionally, Monroe Markovitz currently servesas the Vice Chairman of
the Board of EnterpriseBank. Additional bank referenceswill be furnished upon request.
In short, financial capability to seethis project to successfulcompletion will not be an
issue.
 Submitted By Mark Built
H om es
THE

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AT MAPLEWOOD VILLAGE

FebruaryL6,2006
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A T MA P L E W O O D VILLAGE
 UILDING A REPUTATIONTO LIVE
BY

MarkBuilt Homesis a family-owned

firm boast-
ing three generationsof real estateexperience-
Markedby imagination,creativity
and an unparalleledreputationfor craftsmanship
And the passionto build
and architecturalintegrity.
remarkablehomes,
Led by Michael Markovitz,Harvard and Cornell- Every Mark Built Home
educatedarchitectand builder,Mark Built Homes is Bearsthe mark of its builder
making its mark for creatingdiscriminatinghomes
The vision of its owners
that transcendmereluxury and rise to the heightof
artisticgrace. And the birth of an incredible
dream.
Combininghis architect'seye, his artisan'ssoul and
his meticulous head for detail Markovitz builds
homesthat stir the heart and make the peoplewho
live in them feel they are home.
A privatecommunityon WisteriaWay...
Tenspectacular MarkBuiltHomes
On a lus han d s e c l u d e cdu l - d e - sa c...
Forty-fiveacresspanningBaskingRidgeand Bernardsville...
A gracious enclaveof "shingle-style" residences
Convenient to the world...yet tuckedawayinto the gloryof nature. (: lt () s s I \ (;

I l( )N .,1 r,'(:
-l lif M Atft< oF [:xcF:!.L EN cE
Privately
enclosedon five primeacres
Of Prestigious
EastHill Realestate
RisesThe Heightsat Tenafly...
An upscalecommunityof 35 town homes
Celebrating
the spaciousness of NewJerseyliving
And commutinginto the City in a NewYorkminute.

HEIG HTS
AT T E N A F LY
*
 rii

I l( 'i r 'l
There'ssomethingquite remarkableabout every Mark Built Community- And
about the peoplewho chooseto live in our homes.

Perhapsit's an appreciationof exceptionalquality - And the attentionto detail

not typicallybuilt into homes of today.

...Theuncompromising workmanshipthat transcendsmere beautyand risesto

the hei ghtof ti me le s sd e s ig n .

...Thesenseof graceand proportionas seen through the visionof an architect's

eye.

...Themark of excellencethat characterizes

every Mark Built home and makes
our c ommuni ti esa jo y t o liv e
i n.

MarkB ui l tH omes
2029 MorrisAve
U ni on,N J07083

908.687.6600

,l ,.".i l I i ri i Il
www.markbuilt.
net
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i rrl N l l fr i i ot l l i .l
MarkbuiltHomeswas foundedin 1999 by severalof the membersof the Markovitzfamily real estate business.Markbuilt
countsthe followingfamily membersamong its staff:

Monroe Markovitz
Attorneyat Lawof NJ and NY. He hasservedas an incorDorator and as a memberofthe Boardof Directorsofthe
MadisonStateBankfor 5 years. For13 yearshe was GeneralCounseltoand a memberofthe Boardof Directorsofthe
EssexBank,and is now Vice Chairmanand a memberof the Boardof Directorsof the EnterpriseBank in Kenilworth,NJ.
He has beena memberof the NJ State BuildersAssociation,as well as the MetroDolitanNJ HomeBuildersAssociation.
He previouslyserveda number of terms as GeneralCounselto the MetropolitanNJ HomeBuildersAssociation.

MichaelMarkovitz
LicensedArchitectin NJ, NY and PA. A ProfessionalPlannerin New Jersey,and a Memberof the AIA and NCARB,he
holdsa Bachelorof Architecturefrom CornellUniversityand a Mastersof Architecturefrom Harvard. He has designed
and built award-winninghousesthroughoutNewJersey.

Jeffrey Markovitz
Attorney at Law in NJrand licensedto practicein the FederalDistrictand State Courtsof NJ. Over the past eight years
he hasspearheaded the acquisitionof over 2000apartmentunitsin NJ and PA,and led the financingof over
$250,000,000 in debt on the familyrealestateportfolio,
Daniel Markovitz
MBAfrom StanfordUniversity. He has 12 years of experiencein a variety of marketingareas. Most recently,he led the
family in a $2,000,000investmentin the downtownrevitalizationof South Orange,

Michael Lerman
A graduateof ColumbiaHighSchoolin Maplewood and RutgersCollegein NewBrunswick, Michaelalsoreceivedhis MBA
from Rutgersand a law degreefrom CardozoSchoolof Law in NewYork City Over the past 20 years, Michaelhas identi-
fied and successfullynegotiatedthe purchaseof propertiesvalued in excessof 40 million dollars,and has procuredten-
antsfor over 100,000squarefeet of retailspace. In addition,Michaelhas redeveloped a numberof largeshoppingcen-
ters and has coordinatedthe construction,marketingand salesof high end luxury homesin New Jerseyand NewYork.
He currentlyresidesin South Oranoe.

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TBE M AR K oF ExcEl - .t,EN cE
MonroeMarkovitzand familyhavebeenengagedin the real estateownership, developmentand management fieldfor the
past 50 years. The lvarkovitzfamily currently has interestsin and managesin excessof 5.400 apartmentunits throughout
NJ,NY and PA. The familyrealtyportfolioalsoincludessubstantial interestsin variousshoppingcentersand officebuildings
as well as the NewarkAirport Hilton Hotel. l4ostof this portfoliois managedby the Markovitzfamily,

The Markovitzfamilyhas beeninvolvedin the construction

of in excessof 3,000one-familyresidence
dwellingsand multi-
familyapartments.It continuesto be activein landacquisition
and development projects.

Financial
and Dersonal
references
are availableuDonreouest.
Monroe Markovitz
2029 MorrisAvenue
Union,NewJersey 07083

MonroeMarkovitzhas beenengagedin the real estateownership, development and management fieldfor the past43 years.
Mr. Markovitz and his familycurrentlyhaveinterestsin and managein excessof 5,000apartmentunitsthroughoutthe
Statesof New Jersey,Pennsylvania and NewYork. Their family realty portfolioalso includessubstantialinterestsin various
shoppingcentersand office buildings,as well as the 383 room NewarkAirport Hilton Hotel and assortedcommercialproper-
ties locatedthroughoutthe UnitedStates. Mostof this portfoliois managedby MonroeMarkovitzand his family.

Mr, Markovitzhas beeninvolvedin the construction

of in excessof 3,000one-familyresidential
dwellingsand multi-family
apartments.He continues to be activein landacquisitionand developmentprojects.

Mr. Markovitzis an Attorney at Law of the Statesof NewJerseyand New York and, in additionto the real estate ventures
enumeratedabove.has servedas an incorooratorand as a memberof the Boardof Directorsof the MadisonState Bankfor
five years. He alsowas GeneralCounseltoand a memberofthe Boardof DirectorsofThe EssexBankfor 13 years. Mr.
Markovitzcurrentlyservesas the Vice Chairmanof the Boardof Directorsof EnterpriseBank,

Mn Markovitzhas beena memberof the NewJerseyState BuildersAssociation,as well as the MetropolitanNewJersey

HomeBuildersAssociation.He previouslyserveda number of terms as GeneralCounselto the MetropolitanNewJersey
Hom€BuildersAssociationand activelyparticipatedin variousprojectsof that Association.

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