The Cordish Company to Develop University's East Campus

The Cordish Company is the largest and most successful developer of entertainment districts and concepts in the United States. In particular, the company has unparalleled experience in creating and revitalizing high-profile destinations in urban core locations. Many of the Cordish Company's projects involve public/private partnerships and are of unique significance to the cities in which they are located. Prime examples are the company's prominent role in the redevelopment of Baltimore's world-famous Inner Harbor; Atlantic City, NJ; Hollywood, FL; Charleston, SC; Houston, TX; Louisville, KY; Tampa, FL, Kansas City, MO; and Towson, MD.

The Cordish Company has received the highest possible national awards in its various areas of expertise. In real estate, the Cordish Company has received an unprecedented seven Urban Land Institute Awards of Excellence.

According to Ann G. Wylie, University Vice President for Administrative Affairs, The Cordish Company brings an excellent track record of high-quality, mixed-use, highimpact development.

"We are very excited to partner with The Cordish Company," said Wylie. "They build projects that create the sense of place that we are seeking to help enhance the University's physical presence and provide amenities for the campus and local communities. Their successes are well documented and, as a Maryland company, they bring a local presence."

Cordish was selected through a competitive Request for Proposal (RFP) process that began in April 2010, and attracted proposals from interested developers from around the nation. "We are very pleased that we were able to attract a developer such as Cordish to partner with us on this project, said Wylie. Cordish will bring a high level of experience and creativity, as well as an international reputation for sustainability and success."

"We are honored to be partnering with the University of Maryland on this important development," said Blake Cordish, Vice President, The Cordish Company. "As a Maryland based company, we are committed to delivering a gold standard development in keeping with the University's efforts to build on its position as a world-class research institution. We also recognize the broader significance of East Campus to the surrounding community and look forward to working closely with the local community and key stakeholders.

The East Campus development project will:

• Create a vibrant, pedestrian-oriented town center consistent with local area plans;

• Act as an economic and urban design catalyst for the revitalization of College

Park and the Route Corridor;

• Support University efforts to elevate its rankings to a place among the elite of

world class universities;

• Create a sustainable, smart-growth project integrating a mix of uses in a transitoriented

plan emphasizing public transportation; bike and pedestrian connections;

reduced automobile use; and shared parking strategies;

• Promote unique, specialty and locally-owned businesses;

• Increase availability of high quality, affordable graduate and market-rate housing; and,

• Increase the tax base of the City of College Park, Prince George's County and the State of Maryland.

After a downturn in the economy ended Maryland's relationship with previous developer, Foulger Pratt-Argo, last fall, the University remained committed to moving forward with a new, multi-phased approach to project implementation, including a first phase that incorporates:

• A plan for the relocation of the auxiliary facilities currently occupying the East

Campus District to the recently purchased Washington Post building (Greenbelt,

MD). http://www.newsdesk.umd.edu/uniini/release.cfm?ArticleID=2069

• A commitment from The Birchmere as an anchor for East Campus, bringing a

renowned music and entertainment venue worthy of a world-class institution and

a thriving College Park.

"The East Campus initiative remains at the forefront of our efforts to build a world-class research institution for the residents of Maryland," said Wylie. "We are confident that a multi-phased development approach that recognizes and responds to current fiscal conditions will lead to a timely and successful development of this vitally important project. When complete, the development will bring a new urban character to College Park by creating a vibrant district of retail, residential, office, much-needed affordable graduate housing, hotel and entertainment uses that will also stimulate downtown revitalization."

The University is dedicated to successful completion of the first phase of its

implementation plan within the next three years, positioning East Campus for sustained growth as the market recovers in the years ahead. "The University pledges its commitment to continued community engagement as the program and timing of this important project moves forward," said Wylie.

Cordish will also be partnering with two very strong local companies that are very

familiar with the University of Maryland: Clark Construction, headquartered in Bethesda, MD and Design Collective, in Baltimore.

According to Wylie, the Cordish team has a strong history of long-term involvement in projects that provide a sense of comfort for quality right out of the gate.