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ta <br />www.FinanceDTA.com <br />SECTION I <br />PROJECT INFORMATION <br />targeting the look and feel of an urban village. One of the primary goals of an urban village <br />setting is that residents can walk within the community to both local -serving retail and <br />recreational amenities. The Developer responded to the City's desires by targeting a Project <br />design that would both achieve the desired urban feeling while offering an economically <br />successful project. <br />The plan is to develop a dense urban village with ground -floor retail in all the residential <br />buildings. The Specific Plan is designed to harmonize with the high-rise office buildings in <br />the Arts District to the east. Another benefit of the program is that at build -out, there could <br />be as many as 6,750 residents living in the village who would shop at the proposed <br />350,000 SF of retail. <br />Figure 1: Artist's 3-D Rendering of Project <br />We based our product mix on the approved Specific Plan. Based upon an artist's rendering <br />of the site (as shown in Figure 1), we estimated the height of the buildings. It was assumed <br />that all multifamily buildings would include ground -floor retail. A 250-room upscale hotel, <br />with approximately 20 stories, is anticipated to be developed in the southwest corner of the <br />Project site. The Specific Plan also proposes a 20-story, 200-unit congregate care facility to <br />be built -out in Phase 1. <br />As stated in the Specific Plan, DTA based our model on the understanding that the Project <br />shall be completed in three phases, as shown in Table 2. <br />Table 2: Project Schedule <br />Approved TTMs <br />Start <br />June 2022 <br />June 2022 <br />June 2022 <br />End <br />December 2025 <br />December 2025 <br />December 2025 <br />Horizontal <br />Construction <br />Start <br />December 2025 <br />June 2029 <br />March 2032 <br />End <br />June 2029 <br />December 2031 <br />June 2034 <br />Vertical <br />Construction <br />Start <br />June 2026 <br />December 2029 <br />September 2032 <br />End <br />March 2030 <br />December 2032 <br />May 2035 <br />Sales <br />Start <br />March 2027 <br />September 2030 <br />June 2033 <br />End <br />March 2030 <br />December 2032 <br />May 2035 <br />Related Bristol at 3600 South Bristol Street <br />Land Residual Value Study Report <br />Exhibit 10 <br />September 27, 2023 <br />/ 2 <br />