University Relationships

In today's competitive higher education marketplace, colleges and universities can no longer only count on their academic programs or the amenities within their four walls to sell their particular institution. Increasingly, these institutions are recognizing the importance of that which exists outside their campus environment to their long-term success. They acknowledge the key role that space plays in the recruitment and retention of the best and brightest students, faculty and staff by providing great places to shop, dine, live, work and recreate. They understand that the "curb appeal" of a university increasingly is driven by the quality of life both on but also around the campus. As a result, we see colleges and universities placing a priority on strengthening the gateways into their campuses, seeking to build housing options not available in the marketplace and generally play a role in redeveloping adjacent downtowns or neighborhoods such that they can once again be viable, engaging and safe places for their students, faculty and the broader community. In many cases, budgetary constraints imposed by limited funding, shrinking endowments and the need to invest in the academic mission make it difficult for these institutions to independently make the investments required to strengthen those edges of campus. This is precisely the relationship Fairmount Properties seeks to form with our university partners. We do not look to the institution for any funding; instead, we leverage our existing debt and equity relationships to facilitate a mutually beneficial long-term investment in the broader campus community.

Tenant Relationships

Tenants are our customers and it is because of them that we are in business. It's that simple. There is nothing more important than the trust and confidence they continue to place in us to provide dynamic environments in which they can continue to grow their brands. Within each of our developments, we strive for perfect retail synergy, that which comes from blending the country's most sought after apparel, specialty and restaurant tenants with the most popular and successful regional and local retailers. To us, each market is unique unto itself and characterized by very specific demographic characteristics, consumer behavior patterns, residential growth trends and an already established retail base. While we feel fortunate in the great relationships we have forged with the country's most sought-after national retailers, we are most proud of our ability to create a unique flavor to our projects through regional and local tenant leasing. We often try to incorporate what we refer to as "non-retail demand generators" within our larger mixed use developments. Such uses including libraries, city halls, live theater venues and recreation facilities drive additional traffic and help to create the 'sense of place' we continuously strive for in each of our developments.

Municipal Relationships

Many of our developments are created within the context of Public/Private Partnerships with cities, states, universities and local development corporations. These projects have taken place in both highly visible suburban locations, densely populated urban locations and on or near college and university campuses. These developments serve to revitalize existing neighborhoods and create new and exciting districts. The economic impact of these projects help to strengthen a municipality's tax base, school system and infrastructure and serve as catalytic and economic engines to spur additional commercial and residential growth, economic stability and a sense of accomplishment and community pride. To date, Fairmount Properties' developments either completed or under construction will generate in excess of $100 million in direct economic impact to numerous public sector entities. Fairmount Properties is well versed in public policy and municipal finances with specific expertise in tax increment financing, bonding and a myriad of other federal, state and regional funding sources.

Community Relationships

We engage the community early in the visioning and planning process so that its residents, community leaders and civic partners have the opportunity to share in a development's ultimate creation and success. We are good listeners. We solicit and encourage community input pertaining as to such things as the types of uses that a particular marketplace is seeking, project amenities and ongoing programming.

Industry Relationships

Most of our development opportunities come to us as a result of a referral from a retailer, municipality, broker, lawyer or architect. We are grateful for the continued confidence, friendship and support our industry associates offer to us and we at Fairmount Properties hold their faith in our abilities in the highest regard.

Financial Relationships

We have been very fortunate in both our debt and equity relationships as well as the confidence we have built within the national lending community. As a result of this support, Fairmount Properties has been successful in developing in excess of $125 million in retail, office, mixed-use and residential projects to date, has broken ground on another $316 million as of 12/1/10 and is in the pre-development/pre-planning stages with another $112 million, all mixed-use college/university projects.