East End Gateway Update

- SITE 1: 16th and N -

Looks like CADA and Lambert Development have reached an agreement on site 1.

Unit Count: 122
Studios - 12
Townhouses - 4
1 BR, 1 Bath - 27
1 BR, 1.5 Bath - 21
2 BR, 2 Bath - 48

Estimated Height: 6 to 15 floors, or 80 to 150 feet, reflecting the height limits established under the Capitol View Protection Act for this site
Acres: .33 acres (370 DUA)
Retail Space: Approximately 4,500 square feet
Parking: Approximately 175 - 204 spaces
Estimated Development Costs: Approximately $69 million
Projected Sales: TBD. All units will be for-sale market-rate condominiums.
Projected Construction Period: November 2008 - July 2010 (20 months)

Upcoming Milestones and Opportunities for Public Comment:
* August 20 - NAG Area 1 presentation
* August 21- EEG Site 1 CADA Open House
* August 28 - CADA begins circulating EIR Notice of Preparation
* September 28 - CADA Board reviews and comments on conceptual design and accepts public comment at CADA Board meeting
* December 7, CADA board approves Design Concept and financing strategies
* December, January, February - City Commissions review design at public meetings
* March 2008 - CADA board approves Final EIR and Development and Disposition Agreement

COMMUNITY MEETING SCHEDULED
"You're invited to a community meeting to hear about Lambert Development's plans to build a 15-story condominium project on CADA's East End Gateway Site 1, at the NW corner of 16th & N streets.

Lambert's architect, Carrier Johnson, will present rough sketches showing the size and scale of the proposed project and seek comments from members of the community. Please come and share your thoughts."

"DATE: Tuesday, August 21st
TIME: 6:00-7:30 pm
LOCATION: To Be Determined. Please call Marc De La Vergne, CADA Project Manager at 322-2114 , or check CADA"s website (www.cadanet.org) closer to the date."

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-Site 4 at 16th and P-
The concept from Lambert Development is for 55 units and 4K in retail space. Design will come forward if CADA extends the ERN on Sept 28th. Architect is Carrier Johnson

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- Sites 2 and 3: 16th and O -

Site 2 and 3 are moving along as well with Ravel Rasmussen Properties and Domich Real State. Architect is Chong Partners.

The developer is submitting schematic design documents, budget, and schedule for review by the CADA Board on August 24.

Site 3:
60 Apartments
48 - 1 Bedroom / 1 Bath
12 - 2 Bedroom / 2 Bath
7,200 Retail Space
Projected Construction Period: Mid 2008 - Mid 2009

Site 2:
24 Apartments
12 - 1 Bedroom / 1 Bath
12 - 2 Bedroom / 2 Bath
6,400 Retail Space
Projected Construction Period: Mid 2008 - Mid 2009