[2. SPIN2024-01 - An applicant is proposing a senior living community on approximately 21- acres located at 300 - 684 Davis Blvd. within SPIN Neighborhood #11. ]

LET US GET TO OUR APPLICANT PRESENTATIONS.

FIRST RUSSELL JONES IS HERE TO PRESENT OUR FIRST ITEM ON THE AGENDA THIS EVENING, WHICH IS SPIN 2024-01.

AN APPLICANT IS PROPOSING A SENIOR LIVING COMMUNITY ON APPROXIMATELY 21 ACRES LOCATED AT 300 TO 684 DAVIS BOULEVARD WITHIN SPIN NEIGHBORHOOD NUMBER 11.

WITH THAT, PLEASE PROCEED.

WELCOME TO TONIGHT'S SPIN MEETING WE APPRECIATE YOUR ATTENDANCE.

WE DID THIS ABOUT, I DON'T KNOW, SEVEN OR EIGHT MONTHS AGO AND WE DIDN'T HAVE A VERY LARGE TURNOUT SO WE HAVE A FEW MORE FOLKS TONIGHT, SO WE'RE REALLY APPRECIATIVE OF YOU COMING OUT.

ONCE AGAIN, MY NAME IS RUSSELL JONES AND I WORK FOR GREYSTONE AND WE OFFICE AT 220 EAST LAS COLINAS BOULEVARD.

AND GREYSTONE HAS BEEN ENGAGED BY FOREFRONT LIVING TO ASSIST THEM IN THEIR DESIRE TO DEVELOP AND OPERATE A STATE OF THE ART SENIOR LIVING COMMUNITY IN TARRANT COUNTY.

WE'RE GOING TO SHARE A LITTLE BIT MORE DETAILS ABOUT THE SITE AND THE SITE PLAN ITSELF BUT FIRST, WE'RE GOING TO PROVIDE A LITTLE BIT MORE BACKGROUND ON FOREFRONT LIVING.

DISCUSS THE CONTINUING CARE RETIREMENT MODEL ITSELF, HIGHLIGHT SOME MARKET DEMOGRAPHICS AND WITH THAT, I'LL GO AHEAD AND TURN IT OVER TO SCOTT POLZIN WHO'S WITH FOREFRONT LIVING.

RUSSELL, THANK YOU VERY MUCH.

MY NAME IS SCOTT POLZIN, I AM THE CHIEF OPERATING OFFICER WITH FOREFRONT LIVING.

FOREFRONT LIVING IS A DALLAS BASED NOT FOR PROFIT.

WE'RE ACTUALLY BASED JUST OFF THE 605 AND IT MYSELF, I ACTUALLY AM A COLLEYVILLE RESIDENT.

I JUST LIVE OFF DAVIS ACTUALLY, NOT FAR FROM THIS SITE.

A LITTLE BIT ABOUT FRONT LIVING IS A 501C3 NONPROFIT AND IN OUR INDUSTRY, THERE ARE DISTINCT DIFFERENCES BETWEEN SENIOR LIVING OPERATORS THAT ARE FOR PROFITS VERSUS NOT FOR PROFITS.

A LOT OF TIMES YOU'LL SEE ORGANIZATIONS THAT ARE FOR PROFIT THAT GET INTO SENIOR HOUSING DEVELOPMENTS AND THEY TYPICALLY SOMETIMES WILL FLIP THOSE PROPERTIES THEY'RE NOT WITH THAT PROPERTY FOR A LONG PERIOD OF TIME IT'S AN INVESTMENT OR THEY'LL BRINGING IN OPERATORS THAT WILL OPERATE IT AND OPERATORS CAN CHANGE HANDS OVER TIME.

FOREFRONT LIVING BEING A NON PROFIT, WHICH HAS A TEXAS BASED BOARD OF DIRECTORS GOVERNING OUR ORGANIZATION WE OPERATE THESE COMMUNITIES FOR THE LONG TERM.

PRESBYTERIAN VILLAGE NORTH, WHICH IS ONE OF OUR PROPERTIES, HAS BEEN IN THE DALLAS COMMUNITY FOR OVER 40 YEARS.

WE ALSO OPERATE THE T. BOONE PICKENS HOSPICE CENTER,

[00:05:01]

AS WELL AS THE FAITH PRESBYTERIAN HOSPICE, WHICH SERVES ABOUT OVER 200 RESIDENTS IN THEIR HOMES WITH HOSPICE SERVICES.

WE HAVE A COMMUNITY UNDER DEVELOPMENT IN PLANO, THE OUTLOOK AT WINDHAVEN, WHICH WILL PROVIDE INDEPENDENT LIVING, ASSISTED LIVING, AND DEMENTIA CARE, VERY SIMILAR PROJECT THAT WE'RE PROPOSING FOR SOUTH LAKE.

IT'S AN INCREDIBLE, BEAUTIFUL DEVELOPMENT YOU MAY HAVE SEEN SOME OF THE ADS THAT WE HAVE IN THE PAPER.

BELLA VIDA IS ALSO A PROJECT THAT WE'RE DEVELOPING IN SAN ANTONIO.

AGAIN, FOREFRONT LIVING HAS BEEN SERVING RESIDENTS FOR OVER 60 YEARS, OUR LEADERSHIP, OUR CEO, MYSELF, THE CFO, DIRECTOR OF MARKETING, ALL OF US HAVE DECADES OF EXPERIENCE IN THIS INDUSTRY.

I HAVE OVER 30 YEARS, OUR CEO HAS BEEN IN THE INDUSTRY FOR OVER 30 YEARS, AND SO WE'RE ALL VERY EXPERIENCED IN THIS INDUSTRY.

A LITTLE BIT ABOUT CONTINUING CARE RETIREMENT COMMUNITIES.

A CONTINUING CARE RETIREMENT COMMUNITY, OR A LIFE PLAN COMMUNITY OFFERS MULTIPLE LEVELS OF CARE.

TYPICALLY, YOU HAVE A LARGER INDEPENDENT LIVING COMPLEX, SOMETIMES COTTAGES, INDEPENDENT HOMES, AND THEN RESIDENTS HAVE THE OPPORTUNITY TO TRANSITION AS NEEDED THROUGH TO ASSISTED LIVING SERVICES OR EVEN MEMORY SUPPORT.

WHAT YOU'LL FIND IS IN A CONTINUUM OF CARE LIKE THAT, YOU HAVE RESIDENTS THAT ARE WITH THE COMMUNITY FOR A MUCH LONGER PERIOD OF TIME.

FOR A STANDALONE ASSISTED LIVING OR A SKILLED NURSING, YOU SEE LENGTHS OF STAY BEING MUCH SHORTER WE'RE IN A CCRC LIFE PLAN COMMUNITY, TYPICALLY THE AVERAGE LENGTH OF STAY IS WELL OVER 10 YEARS.

AT PRESBYTERIAN VILLAGE NORTH, WE HAVE A LOT OF RESIDENTS THAT HAVE BEEN THERE FOR OVER 20 YEARS AND STILL LIVING AT THE COMMUNITY.

WITH THAT, I'M GOING TO HAVE RUSSELL COME BACK UP AND TALK A LITTLE BIT MORE ABOUT THE PROJECT.

THE QUESTION WE WANT TO ANSWER TONIGHT, ONE OF THE MAIN QUESTIONS IS, WHY SOUTH LAKE? AND WE WANT TO TURN YOUR ATTENTION TO THIS MAP BECAUSE I REALLY THINK IT TELLS A COMPELLING STORY ON WHY SOUTH LAKE AND THIS SITE IN PARTICULAR.

NOW IN THE MIDDLE YOU'LL SEE A GOLD STAR AND THAT'S THE SITE ITSELF, THEN ON THE NORTH SIDE, YOU'LL SEE LAKE GRAPEVINE, DFW AIRPORT ON THE EAST SIDE, 377 AND 35 ON THE WEST SIDE.

THIS ENCOMPASSES WHAT WE CALL OUR PRIMARY MARKET AREA SO ANYWHERE THAT'S SHADED PURPLE IS A FIVE MILE RADIUS, OR A ZIP WITHIN THE FIVE MILE RADIUS OF THIS PARTICULAR SITE AND IT HAS OVER 5,100 AGE AND INCOME QUALIFIED HOUSEHOLDS, WHICH FOR OUR INDUSTRY IS A LOT.

ON TOP OF THAT, WE ALSO FEEL LIKE THE RATE OF GROWTH FOR SENIOR HOUSEHOLDS IN THIS PARTICULAR SUBMARKET IS GOING TO OUTPACE THAT WITHIN THE OVERALL DFW AREA AS WELL.

NOW WE FOUND THAT OUR EXPERIENCE WORKING ON PROJECTS ALL ACROSS THE COUNTRY, THAT SENIORS REALLY DON'T WANT TO MOVE TOO FAR FROM WHERE THEY ARE.

THIS CLOSE PROXIMITY TO THEIR EXISTING HOMES IS IDEAL THAN WHAT THEY PREFER.

AS I SAID BEFORE, I WORK FOR GREYSTONE AND WE ARE A DEVELOPMENT CONSULTING FIRM.

WE'VE BEEN IN BUSINESS SINCE 1982 AND WE REALLY FOCUS MOSTLY ON HELPING NOT FOR PROFIT SPONSORS IN THEIR MISSION TO DEVELOP, OPERATE, AND MANAGE CCRCS.

NOW WE HAVE A LONG LIST OF PROJECTS THAT'S OVER 160 ALTOGETHER, WHERE WE'VE HAD RESPONSIBILITY FOR NEW START UP PROJECTS, REDEVELOPMENTS AND EXPANSIONS.

SO LET'S TAKE A LOOK AT THE SITE ITSELF THIS IS A 20 ACRE SITE, A LITTLE OVER 20 ACRE SITE HERE ON DAVIS BOULEVARD SO THE SITE IS OUTLINED IN YELLOW.

IT'S A COLLECTION OF FIVE SINGLE FAMILY ESTATE LOTS JUST ABOUT A QUARTER MILE, ABOUT A FIFTH OF A MILE SOUTH OF 1709, SO 1709 IS JUST OFF THE TOP OF THE MAP HERE.

THE AERIAL IS A LITTLE OLDER THERE'S A NEW RETAIL RESTAURANT CALLED HTO THAT'S JUST ON THE TOP SIDE.

SO WE'RE SURROUNDED ON THE EAST SIDE OF DAVIS BY SINGLE FAMILY ON THE WEST SIDE BY SINGLE FAMILY SUBDIVISION AS WELL.

ON THE NORTH IS MORE RETAIL USES AND ON THE SOUTH SIDE IS A COMMERCIAL USE, THAT'S MINI WAREHOUSE.

[00:10:03]

ONCE AGAIN, THE SITES ALMOST 21 ACRES, ABOUT 14 OF ITS BUILDABLE, THE REST IS IN FLOODPLAIN AND WE'LL TALK A LITTLE BIT ABOUT HOW WE'RE GOING TO ADDRESS THAT.

THE CURRENT ZONING IS RE5 AND SF1-A, WHICH ARE LARGER LOT ESTATES, SINGLE FAMILY ZONING.

ONCE AGAIN, WE TALKED ABOUT THE ADJACENCIES AND WE HAD THE FLOODPLAIN THAT WE'LL TALK IN A LITTLE BIT MORE DETAIL IN A SECOND.

WITH THAT, I'M GOING TO GO AHEAD AND TURN IT OVER TO BUD GREEN, WHO'S MY COLLEAGUE HERE AT GREYSTONE, AND HE'S GOING TO GO OVER THIS POTENTIAL CONCEPT PLAN WITH YOU.

>> I'M SORE FROM A LOT OF WORK AROUND THE HOUSE OVER THE WEEKEND.

I FEEL LIKE I OUGHT TO BE MOVING IN TO ONE OF THESE VERY QUICKLY.

SO I DO WANT TO JUST TOUCH BASE ON THIS CONCEPT PLAN AND POINT OUT A FEW THINGS.

AND THIS REALLY IS, MORE THAN ANYTHING, JUST A TEST FIT FOR THIS 20 ACRE PIECE OF PROPERTY.

AND YOU'LL SEE THAT THERE IS THE DESIGNATION OF THE CREEK.

THERE'S A DESIGNATION OF 100 YEAR FLOODPLAIN.

SO THAT UNBUILDABLE AREA IS ABOUT SIX ACRES OF THE TOTAL.

SO THE NET COMES OUT SOMEWHERE IN THAT 14 ACRE RANGE.

WHAT WE WANTED TO DO WAS TRY TO PULL TOGETHER THE THREE LEVELS OF CARE THAT RUSSELL JUST WENT OVER.

IN ADDITION TO THE COTTAGES THAT YOU'LL SEE IN THE SITE PLAN, THE TEST FIT THAT ARE OFF TO THE LEFT, THERE'S 20 OF THOSE IN THIS PLAN.

AND YOU'LL SEE IN THE PLAN THAT IT'S ESSENTIALLY BISECTED BY THAT ONE STORY COMMONS WHICH WOULD HOUSE BACK OF HOUSE SERVICES, DINING, ADMINISTRATIVE OFFICES, ET CETERA.

THE COMPONENTS OF THE BLOCKING THAT IS TO THE LEFT OF THAT AND IT'S INDICATED TO BEING THE INDEPENDENT LIVING.

RIGHT NOW, THE TEST FIT IS FOR A THREE STORY OVER STRUCTURED PARKING.

YOU CAN SEE INDICATED IN SOME AREAS THERE ON THE SITE PLAN, IF YOU CAN PICK UP ON IT, WHERE THE ACTUAL DRIVES WOULD GO TO GET INTO THE UNDERGROUND PARKING.

MOST OF THESE PROJECTS THAT WE DO HAVE THAT KIND OF UNDERGROUND STRUCTURED PARKING.

IN SOME CASES, WE DO HAVE SURFACE, ALL THE REST OF THE SURFACE PARKING WOULD BE FOR GUESTS AND FOR EMPLOYEES, ET CETERA.

ONE THING THAT IS ALWAYS ASKED ABOUT AND SOMETHING THAT WE'RE VERY SENSITIVE TO IN THESE MEETINGS, LIKE THE NEIGHBORHOOD MEETINGS OR THE SPIN MEETING IN PARTICULAR, IS QUESTIONS ABOUT THE TRAFFIC WHEN YOU HAVE THESE DENSITIES, PARTICULARLY IN THE INDEPENDENT LIVING.

AS RUSSELL SAID, WE'VE BEEN DOING THIS FOR OUR CLIENTS, NOT FOR PROFITS FOR OVER 40 YEARS NOW AND WE ARE PURELY A FEE DEVELOPER.

WE DON'T OWN ANY REAL ESTATE, WE JUST DO THESE DEVELOPMENTS FOR ENTITIES LIKE FOREFRONT THAT MAYBE DON'T HAVE THE STAFF OR THE EXPERTISE TO EXECUTE A FULL DEVELOPMENT PROJECT.

WHERE I'M GOING WITH THIS IS THE TRAFFIC.

AND WE HAVE DONE COUNTLESS NUMBERS OF TRAFFIC STUDIES AND WE FIND THAT THE SENIOR POPULATION, PARTICULARLY IN THE INDEPENDENT LIVING, ASSISTED LIVING AND CERTAINLY MEMORY DOES NOT HAVE A LOT OF TRAFFIC, BUT THE RESEARCH SHOWS THAT THEY'RE ON THE ROAD COMING OFF SITE LATER IN THE MORNING AND COMING BACK ON SITE.

SO DURING PEAK HOURS, THEY'RE USUALLY ON THE SITE.

THERE'S NOT A LOT OF IMPACT IN TRAFFIC WHEN IT COMES TO THE NUMBER OF DOORS IN A SITE PLAN LIKE THIS, YOU'LL SEE THAT THIS TEST FIT HAS GOT 133 INDEPENDENT UNITS SHOWN IN THIS TEST FIT WITH THE AVERAGE SQUARE FOOTAGE FOR INDEPENDENT LIVING, IT'S PROBABLY GOING TO BE SOMEWHERE IN THE NEIGHBORHOOD OF 1,200 SQUARE FEET PER UNIT.

AND THERE'LL BE SOME HIGHER, SOME LOWER.

WE WOULD REFINE THIS AS WE MOVE ALONG AND WE HAVE THE OPPORTUNITY TO KEEP PURSUING THIS.

IT MAY GROW A LITTLE BIT, IT MAY GO DOWN A LITTLE BIT.

WE'LL ALWAYS DO A SERIES OF SITE SECTIONS TO SEE WHAT THE VIEWS WOULD BE, HOW IT WOULD IMPACT HOUSES, PARTICULARLY IN THIS CASE, TO THE EAST ACROSS DAVIS, WE'RE ALL THOSE SINGLE FAMILY.

AND THEN OF COURSE, THERE WILL BE SOME EFFECT FROM A VISUAL STANDPOINT TO THE WEST TO THOSE SINGLE FAMILY HOMES.

THERE MAY BE IN A FURTHER STUDY, AS WE REFINE THIS, WE MAY PROPOSE A FOUR STORY COMPONENT.

WHEN WE DO THAT, WE GENERALLY LOCATE THOSE HIGHER ONES IN THE CENTER OF THE SITE.

SO FROM A VISUAL STANDPOINT, THERE'S BLOCKING AND YOU DON'T NOTICE THEM FROM OTHER ASPECTS OR LOCATIONS AROUND THE PROPOSED SITE.

LET ME THINK, I WANT TO BE BRIEF HERE.

[00:15:03]

THERE'S REALLY NOT MUCH ELSE TO SAY.

WE ARE COGNIZANT AND SENSITIVE TO OVERALL DENSITIES AND HOW THAT AFFECTS THE OPEN SPACES, THE GREEN SPACES, AND THE AREAS THAT YOU WOULD HAVE ACCESS TO FROM A RESIDENT STANDPOINT OF BEING OUTSIDE.

ONE OF THE THINGS THAT WE WOULD PROPOSE HERE, MUCH LIKE THE PROJECT THAT WE ARE HELPING FOREFRONT ON IN PLANO, THAT'S VERY SIMILAR BECAUSE IT HAS THIS FLOODPLAIN IN THE SAME CONDITION.

WE HAVE DEVELOPED A WALKING TRAIL AND COORDINATED WITH THE CITY FROM A PARKS DEPARTMENT, ET CETERA.

WE DO THAT BECAUSE WE WANT TO GIVE THE SENIOR RESIDENTS THE OPPORTUNITY TO BE ABLE TO EXPERIENCE SOME OF THE GREEN SPACE AND IN THIS PARTICULAR CASE, WE THINK IT COULD BE DEVELOPED AND IMPROVED TO BE SOMEWHAT OF A PARK LIKE SITUATION.

I'M GOING TO JUMP OVER HERE IF I CAN, I GUESS, MOVE, I GUESS THE OTHER WAY YOU CAN SEE AGAIN, THE EXISTING USES, A SINGLE FAMILY, AND VACANT LOT.

WE'VE TALKED ABOUT THE ACREAGES AND THE ADJACENCIES.

THERE ARE AMPLE UTILITIES CURRENTLY FROM SOME OF THE INITIAL RESEARCH THAT WE HAVE DONE, WE WOULD BE COORDINATING WITH OTHER ENTITIES ABOUT THE ROAD AND WHERE WE WOULD PROPOSE CURB CUTS, ET CETERA, BASED ON THAT SITE PLAN WHERE WE WOULD HAVE ENTRANCES TO THIS SITE.

THOSE WOULD OBVIOUSLY BE POTENTIALLY MODIFIED AS THE DESIGN PROGRESSES.

I WANT TO EMPHASIZE AGAIN THAT IT'S A TEST FIT.

WHAT WE'RE MOSTLY INTERESTED IN IS STARTING TO COMMUNICATE WHAT WE WOULD PROPOSE FROM A HEIGHT, FROM A DENSITY STANDPOINT, AND WHAT THE SPECIFIC USES WOULD BE, IN THIS CASE, SENIOR LIVING COMMUNITY THAT HAS INDEPENDENT LIVING.

THE ASSISTED LIVING, AND THEN THE MEMORY SUPPORT COMPONENTS.

SO I'LL TURN IT BACK OVER TO [BACKGROUND].

YEAH, I CAN DO THAT. LET ME GET BACK TO THIS ONE HERE.

I'M JUST GOING TO REINFORCE RIGHT NOW.

THE TEST FIT HAS 133 IL.

THERE'S 20 COTTAGES.

THEY'RE JUST ESSENTIALLY ONE STORY, SMALL, SINGLE FAMILY TYPE OF STRUCTURES, BUT IT'S OBVIOUSLY FOR SENIOR.

AND THEN THE 32 ASSISTED LIVING DOORS AND MEMORY SUPPORT 24 OF THOSE ON THAT, ESSENTIALLY GENERATING ABOUT 10 UNITS PER ACRE RIGHT NOW.

THAT COULD GO UP DEPENDING ON HOW WE REFINE THE SITE PLAN AND WE UNDERSTAND MORE ABOUT THE ENGINEERING, ET CETERA.

YOU CAN SEE THERE IS A COMPARISON TO AN EXISTING PROPERTY HERE, WATERMERE, THAT'S IN SOUTH LAKE AND WHAT THEY HAVE FROM A DENSITY STANDPOINT, AGAIN, THIS TEST, IT'S SHOWN 1,300 SQUARE FEET ON AVERAGE FOR THE INDEPENDENT LIVING.

THE COTTAGES WOULD BE IN THAT 18-2,200 SQUARE FEET.

PROJECT SIZE NOT COUNTING THE COTTAGES IS AROUND 280,000 SQUARE FEET, NOT COUNTING THE UNDERGROUND PARKING GARAGE, IT'S PROBABLY ANOTHER 20,000 DEPENDING ON WHAT THE TOTAL SQUARE FEET WOULD BE FOR THOSE TOTAL COTTAGES AND THE BUILDING HEIGHT FROM ONE IN THE COMMONS TO MAYBE THREE OR FOUR STORIES, DEPENDING ON THE REFINEMENT OF THE DESIGN IN THE REST OF THE MASSING THAT WAS SHOWN ON THAT TEST FIT SITE PLAN.

I TALKED ABOUT THE LINEAR PARK, THE OBJECTIVE FOR THE OPEN SPACES.

WE REALLY WANT TO TRY TO KEEP IT AT 50%.

I DON'T REMEMBER, I PROBABLY HAVE IT IN MY NOTES, WHAT THE ZONING REQUIREMENTS WOULD BE HERE AT THE CITY, THAT RIGHT NOW IN THE COMPREHENSIVE PLAN IS SHOWN TO BE MIXED USE FOR SOME FUTURE DEVELOPMENT.

RUSSELL ALREADY TALKED ABOUT WHAT THE CURRENT ZONING IS, AND WE FEEL LIKE THAT THE SENIOR LIVING COMMUNITY, GIVEN THAT IT'S RESIDENTIAL LIVING WITH SOME HEALTH CARE, WILL FIT IN WITH THE MIXED USE COMPONENT.

IT'S NOT TO SAY THAT AS THINGS REFINE, THERE MIGHT BE SOME OTHER AMENITIES THAT WOULD EVEN INCREASE THE STRENGTH OF THE MIXED USE CONCEPT.

I TALKED ABOUT THE TRAFFIC.

GENERALLY, WE FIND OUT THAT THE SENIOR POPULATION DOES NOT AFFECT, IN A REAL NEGATIVE WAY, THE TRAFFIC ON THE STREETS BECAUSE THEY'RE GENERALLY JUST NOT TRAVELING DURING PEAK TRAFFIC HOURS.

THE SIDEWALKS, OF COURSE, ARE TO BE WHAT'S REQUIRED BY THE CITY.

THE PROJECT TEAM WILL BE GREYSTONE,

[00:20:04]

AN ARCHITECT FIRM WHO HAS HELPED US SO FAR WITH THESE TEST FITS PRDG.

THEY'RE A VERY CAPABLE FIRM, MANY YEARS SENIOR LIVING.

IN FACT, THAT'S THEIR MAIN BOOK OF BUSINESS.

DUNAWAY IS A CIVIL ENGINEER THAT'S OUT OF FORT WORTH THAT IS VERY FAMILIAR WITH THE CITY, THE LOCATION HAS WORKED WITH GREYSTONE AND OTHER CLIENTS THAT WE'VE WORKED WITH IN THE PAST.

ANDERS CONSTRUCTION IS A CONTRACTOR THAT DOES A LOT OF SENIOR LIVING, KNOWS IT VERY WELL, IS WORKING ON A COUPLE OF THE PROJECTS THAT FOREFRONT HAS NOW.

THAT'S THE PROJECT TEAM.

HERE'S A COUPLE OF PHOTOGRAPHS OF A PROJECT, THE PRESBYTERIAN VILLAGE NORTH IS ONE THAT SCOTT HAD INDICATED IT'S COMPLETED NOW.

VERY NICE COMMUNITY.

YOU CAN SEE THE QUALITY OF THE ARCHITECTURE AND FINISHES ARE VERY GOOD.

THEN YOU CAN JUST REVIEW THOSE IMAGES.

ONE THAT IS UNDER CONSTRUCTION, THAT'S IN PLANO IS THE OUTLOOK AT WINDHAVEN, AGAIN AN EXAMPLE OF INDEPENDENT LIVING.

THIS HAPPENS TO BE FOUR STORY ON A PODIUM TOP RIGHT, IMPRESSIONS OF WHAT A COTTAGE MIGHT LOOK LIKE FROM A DESIGN STANDPOINT.

EVERY ONE OF THESE PROJECTS THAT WE WORK ON AND SPECIFICALLY FOR THIS CLIENT, THERE'S NO COOKIE CUTTER, THEY'RE ALL CUSTOM.

IT'S A BRAND NEW DIFFERENT CONCEPT AND DESIGN ON EVERY PROJECT THAT THEY DO.

IT'S VERY HIGH QUALITY, GOOD LOOKING STUFF.

THESE ARE A COUPLE OF PROJECTS THAT PRDG HAS DONE AND SOME THAT WE'VE BEEN INVOLVED WITH TOO, BECAUSE WE'VE WORKED AT GREYSTONE WITH THIS FIRM.

AGAIN, IT IMPLIES WHAT THE QUALITY OF THE MATERIALS AND THE DESIGN IS.

YOU WANT TO GO OVER ANY OF THE SUPPLEMENTAL? LET ME JUST TOUCH ON THIS.

THIS IS THE SAME TEST FIT SITE PLAN, BUT WHAT WE DID WAS WE WANTED TO DO THE FIRST PASS ON, WHAT SIGHT LINES MIGHT LOOK LIKE.

THIS SECTION IS WHERE IT WAS ACTUALLY CUT WITH THE ARCHITECT.

I'LL TELL YOU THAT THE HORIZONTAL SCALING IS ACCURATE.

THE VERTICAL SCALING IS NOT EXACT YET.

WE KNOW THAT TO THE RIGHT OF DAVIS OR TO THE EAST, THE LAND GOES UP A LITTLE BIT.

YOU CAN SEE THE DISTANCES.

WHEN YOU'RE TALKING ABOUT A THREE STORY, PARTICULARLY A THREE STORY ON A PARKING GARAGE STRUCTURE, THE SITES ARE VERY MANAGEABLE AND THAT'S WITH A FULL PITCHED ROOF, YOU CAN SEE BEHIND IT IMPLIED THINGS THAT WOULD BE IN THE BACK THAT IN THE EVENT THAT A FOURTH LEVEL WOULD BE CONSIDERED IN THE CENTER OF THE SITE, PROBABLY HAVE A PRETTY MINIMAL EFFECT FROM A VIEW STANDPOINT, WHICH IS SOMETHING THAT WE WOULD WANT TO BE VERY COGNIZANT ABOUT.

THESE ARE JUST SOME EXISTING PHOTOGRAPHS OF THE SITE.

THIS IS IMPLYING THAT WHAT THE USES ARE, AND YOU'LL SEE THAT THE COLOR FOR THE MAJORITY OF THE BUILDABLE SITE IS IN THAT MIXED USE, WHICH IS DESIGNATED IN A COMPREHENSIVE PLAN THAT THE CITY HAS ADOPTED.

THIS WAS A PREVIOUS TEST FIT THAT WE DID SEVERAL MONTHS AGO WHEN RUSSELL MENTIONED THAT THE VERY FIRST SPIN MEETING THAT WE WENT TO.

AGAIN, IT WAS A VERY QUICK AMASSING STUDY.

WHAT WE DID LEARN FROM ADDITIONAL WORK AND RESEARCH WITH SOME ENGINEERING IS, IS THAT THE 100 YEAR FLOODPLAIN LINE WASN'T EXACTLY CORRECT.

NOW IT'S CORRECT ON THAT LAST SITE PLAN THAT YOU LOOKED AT, BUT THE GENERAL MASSING AND THE USES AND THE UNIT COUNT SHORT OF THE COTTAGES ARE GENERALLY THE SAME, AND THAT'S WHAT WE HAVE.

IF YOU GOT ANYTHING YOU'D LIKE TO ADD, RUSSELL? WELL, I'LL GIVE IT TO YOU. I'LL GO BACK TO MY SEAT.

>> THANK YOU, BUD. AS THE MAYOR SAID IN HIS VIDEO, THIS IS JUST A INFORMATIONAL SESSION.

WE WOULD APPRECIATE YOUR FEEDBACK.

ANYTHING THAT YOU GIVE TO US, WE WILL TAKE UNDER CONSIDERATION.

THIS IS A ZONE A SINGLE FAMILY DESIGNATION, SO AN UP-ZONING, A REZONING WOULD NEED TO OCCUR.

SO WE'RE GOING TO TAKE ALL THIS INTO CONSIDERATION AS OUR NEXT STEPS.

ONCE AGAIN, WE JUST HOPE THAT YOU COME AWAY WITH THE IDEA AND CONCEPT THAT THIS CAN BE A REALLY GREAT COMMUNITY ASSET FOR THE CITY OF SOUTH LAKE.

[00:25:03]

WITH THAT, IF ANYBODY WANTS TO ASK A QUESTION, I'LL STAY UP HERE AND MY OTHER TEAM MEMBERS CAN CHIME IN AS WELL.

>> I'M SORRY, CAN YOU PLEASE APPROACH THE MICROPHONE AND STATE YOUR NAME FOR THE RECORD IF YOU WISH TO SPEAK?

>> 1207 LANSDOWN COURT IN SOUTH LAKE.

IS THIS GOING TO BE CONCEPTUALLY MANAGED IN TERMS OF PEOPLE BUYING IN THE PROPERTY AS THEY DO IN WINDERMERE OR IS IT GOING TO BE A LEASE PROPERTY? WHAT'S THAT STRUCTURE? BECAUSE I THINK ONE OF THE THINGS AS A RESIDENT OF SOUTH LAKE THAT'S ALWAYS BEEN POSITIVE TO ME IS THE AVOIDANCE OF ANYTHING THAT RESEMBLES AN APARTMENT COMPLEX IN TERMS OF LEASE STRUCTURE.

>> YEAH. I'LL LET SCOTT SPEAK A LITTLE BIT MORE DETAIL TO THAT.

BUT EFFECTIVELY, THIS IS GOING TO BE A CONTINUING CARE RETIREMENT COMMUNITY THAT WILL HAVE A ONE TIME UPFRONT ENTRANCE FEE, AND SCOTT CAN DESCRIBE THAT IN A LITTLE BIT MORE DETAIL.

SO IT'S KIND OF A HYBRID AND I'LL LET HIM GIVE MORE INPUT.

>> WITH THE CONTINUING CARE RETIREMENT COMMUNITY, WE HAVE A REFUNDABLE ENTRANCE FEE AND SO THE REFUNDABILITY ARE DIFFERENT PROGRAMS. IN GENERAL, IT'S USUALLY ABOUT A 90% REFUNDABILITY.

WE HAVE SOME FLEXIBILITY DEPENDING ON THE RESIDENTS NEEDS, IT COULD BE A 60% REFUNDABILITY.

I THINK PART OF THE QUESTION MAY HAVE BEEN HOW ARE WE FINANCING THIS COMMUNITY? THAT IS TYPICALLY WE RAISE FUNDS THROUGH A MUNICIPAL BOND MARKET.

IT'S FINANCED OVER A LONG PERIOD OF TIME, SO 30 YEAR BONDS.

WE DO THESE ENTRY FEE REFUNDABLE PLANS THAT HELPS US PAY DOWN OUR DEBT SO THAT WE CAN KEEP OUR MONTHLY SERVICE FEES LOWER AND BE ABLE TO DEVELOP THE COMMUNITY.

IT IS AN ENTRY FEE MODEL WHERE YOU HAVE A REFUNDABLE DEPOSIT.

DOES THAT ANSWER YOUR QUESTION?

>> [BACKGROUND].

>> IT'S NOT A RENTAL.

>> [BACKGROUND].

>> I LIVE IN COLLEYVILLE LIKE YOU DO, SO I JUST HAVE AN INTEREST IN WHAT YOU HAVE GOING ON HERE.

BUT THE COTTAGES, IF YOU FOLLOW THE WINDMERE MODEL, FROM WHAT I UNDERSTAND, YOU BUY THE COTTAGE.

>> YES.

>> WHICH I THINK THE PEOPLE OF SOUTH LAKE AND FRANKLY THE PEOPLE OF COLLEYVILLE ARE VERY INTERESTED IN AS WELL FROM A RENTAL STANDPOINT.

DO I BUY THE COTTAGE AND THEN GO TO ASSIST LIVING AND THEN GO TO THE LAST STEP, IF YOU WILL, OF LIFE, OR DO I RENT THE COTTAGE?

>> SURE. THERE ARE PROBABLY AROUND 2,000 CONTINUING CARE RETIREMENT COMMUNITIES ACROSS THE UNITED STATES.

THERE ARE A FEW MODELS WHERE THE HOMEOWNERS ACTUALLY OWN THE REAL ESTATE ON THE INDEPENDENT LIVING, AND IT'S USUALLY ON THE COTTAGE MODEL IS WHERE YOU HAVE A HOME OWNERSHIP.

THE PROBLEM WITH THAT IS, IS YOU ACTUALLY OWN THAT HOME.

YOU'RE PAYING PROPERTY TAXES AND THE FAMILY, OR YOU ARE TYPICALLY RESPONSIBLE FOR RESELLING, OR YOU'RE ON THE HOOK UNTIL THAT UNIT IS RESOLD.

IN OUR MODEL, YOU ACTUALLY ARE PAYING A REFUNDABLE ENTRANCE FEE.

THERE IS NO ACTUAL OWNERSHIP, THE NOT FOR PROFIT, 501(C)(3) OWNS THE ENTIRE COMMUNITY.

WE ASSIST WITH THE RESALE OF THE UNIT.

THAT TAKES THAT BURDEN OFF OF THE FAMILY OR THE RESIDENT WHEN THEY NEED TO GO TO A HIGHER LEVEL OF CARE.

TO YOUR SPECIFIC QUESTION IS, DOES THE PERSON OWN THE COTTAGE OR VILLA? THEY DO NOT.

IT IS OWNED BY THE NOT FOR PROFIT.

YOUR ENTRY FEE BASICALLY GIVES YOU THE RIGHT TO LIVE IN THAT UNIT UNTIL YOU GO TO A HIGHER LEVEL OF CARE.

>> MY NAME IS BETSY BIRMINGHAM AND I LIVE ON SHOOTING STERLING.

THE QUESTION I HAVE IS, I'M PRETTY FAMILIAR WITH A LOT OF THESE FACILITIES ONLY BECAUSE I TOOK CARE OF MY MOTHER MANY YEARS, 22 YEARS.

YOU CAN IMAGINE THE TYPES OF COSTS YOU INCUR.

I HAD LOOKED AT WATERMERE AND THE COSTS AND THE CALIBER OF PEOPLE THAT LIVED THERE.

[00:30:01]

ULTIMATELY, I DIDN'T PUT HER IN A WATERMERE, NOT BECAUSE OF COST, THAT WASN'T THE THING.

IT WAS THE FIELD. WAS IT INVITING? WAS IT HOMEY? THAT'S THE THINGS THAT WE WERE LOOKING FOR.

DID IT GIVE HER THE SAME FEELING AS THE HOME? WHEN I'M LOOKING AT YOUR DIAGRAM, YOU'RE NOT FAR THE PITCH.

THE PITCH OF THAT LAND IS YOU'RE RIGHT, IT'S GOT A COMPLETE VERY STEEP PITCH.

I GET WHERE AS IT GRADIATES DOWN AND YOU GO FOUR STORIES, WE'RE NOT GOING TO SEE AS MUCH AND YOU'RE RIGHT ABOUT THAT, BUT YOU'RE NOT THAT FAR DOWN WHERE YOU'VE GOT YOUR FLOODPLAIN IS WHERE THOSE HOUSES PRETTY MUCH ARE SITTING RIGHT NOW.

SO WE DON'T REALLY SEE THE HOUSES; YOU DRIVE BY, YOU JUST SEE LAND, SO NOW WE'RE GOING TO SEE A PRETTY A SIZABLE PIECE OF THIS BUILDINGS.

I SAW WHERE YOU WERE TRYING IN PLANO TO MASK IT WITH THE TREES, WHICH THAT'S NICE.

WE WANT TO DO THAT AS WELL.

BUT I ALSO QUESTION WHAT'S THE CALIBER OF PEOPLE THAT WE'RE GOING TO BE ENTERTAINING WITH A 501(C).

I'M NOT TRYING TO BE SNOBBY OR ANYTHING, BUT WE'VE GOT VERY EXPENSIVE PROPERTIES.

THE HOUSES THAT WE HAVE IN THIS COMMUNITY ARE NOT CHEAP, BUT IF THEY'RE NOT PURCHASING ANYTHING LIKE WATERMERE, THEN I'M CONCERNED, WHO'S YOUR TARGET MARKET?

>> SURE. [LAUGHTER] RUSSELL HAD A SLIDE UP EARLIER AND HE TALKED ABOUT THE DOT DENSITY MAP AND ABOUT 5,000 INDIVIDUALS AND I BELIEVE WHAT YOU HAD THERE WAS ANNUAL INCOME OF $75,000 AND I DON'T KNOW DOES IT HAVE AGE OF 75 AND ABOVE.

IN REGARDS TO, I'LL FIRST OF ALL, TALK A LITTLE BIT ABOUT THE QUALITY OF THE COMMUNITIES, THE COMMUNITY WE DEVELOPED IN PLANO, THE CONSTRUCTION COST WAS ABOUT $110 MILLION.

IT'S AN EXPENSIVE PROJECT.

THE AVERAGE I WOULD SAY ENTRY FEES AT PLANO ARE PROBABLY, LET'S SAY, AROUND $500,000.

THE INDIVIDUALS WHO MOVE IN TO A COMMUNITY LIKE THIS WOULD TYPICALLY HAVE ASSETS OF PROBABLY TWO MILLION DOLLARS.

WE'RE PROBABLY LOOKING FOR INCOME OF THAT OVER $75,000 A YEAR.

THESE ARE INDIVIDUALS THAT HAVE ASSETS THAT ARE MOVING, THEY'RE TYPICALLY PLANNERS, THEY'RE MOVING IN AS THEY'RE INDEPENDENT LIVING BECAUSE THEY WANT THE SOCIALIZATION, THEY WANT THE COMMUNITY.

BUT THEY ALSO HAVE THE HEALTH CARE THAT THEY MAY POSSIBLY UTILIZE IN THE FUTURE WITH THE ASSISTED LIVING AND DEMENTIA CARE.

THESE COMMUNITIES, IT'S NOT FOR EVERYBODY, EVERYBODY HAS THEIR OWN SITUATION, WHETHER OR NOT THEY WANT TO STAY AT HOME AND BRING IN CAREGIVERS OR MOVE INTO A COMMUNITY.

BUT WHAT I'VE FOUND IS I'VE HEARD SO MANY TIMES FROM RESIDENTS THAT HAVE MOVED IN.

WHAT THEY SAY IS, I WISH I WOULD HAVE MADE THIS DECISION YEARS AGO BECAUSE I DIDN'T KNOW THAT I WAS GOING TO MAKE SO MANY FRIENDS, THAT I WAS GOING TO FEEL SO SECURE AND THAT MY LIFE WOULD CHANGE.

I THINK THAT THE CALIBER PEOPLE WHO MOVE IN ARE TYPICALLY THOSE THAT ARE PLANNERS THAT WANT TO MAKE THIS DECISION SO THAT THEIR FAMILY DOESN'T HAVE TO MAKE A DECISION FOR THEM IN THE FUTURE.

>> [INAUDIBLE] BUT MY POINT HERE IS THIS, IF GIVEN NOTICE, THE NUMBER OF PEOPLE USED IN THE PROJECTS THAT YOU'RE AWARE OF, THE PAST EXPERIENCE OR PROJECTS YOU HAVE NOW.

ONCE THEY MOVE IN ON A PERCENTAGE BASIS, HOW MANY OF THEM WILL LEAVE? BECAUSE YOU WILL HAVE THE OPPORTUNITY WITH THE ENTRANCE FEE WITH THE LITTLE REFUNDABILITY COMPONENT.

IF YOU WANT TO LEAVE, YOU CAN LEAVE AND YOU GET THAT PERCENTAGE REFUNDABILITY BACK AND THEN IT GETS RESOLD.

THE NUMBER OF PEOPLE THAT ACTUALLY DO THAT COMPARED TO THE PEOPLE THAT MOVE TO A HIGHER LEVEL OF CARE OR THERE'S A DEATH AND THEN THE FAMILY GETS THE REFUNDABILITY AND THEN THE UNIT GETS RESOLD.

WHAT DO YOU THINK THE PERCENTAGES OF THOSE CHANGES?

[00:35:03]

>> I'LL REPEAT YOUR POINT HERE, THE POINT IS WHEN PEOPLE MOVE IN, THEY CAN ABSOLUTELY DECIDE TO MOVE OUT AND MOVE TO ANOTHER HIGHER LEVEL OF CARE SOMEPLACE ELSE OR MOVE OUT OF STATE OR DO SOMETHING ELSE.

WHAT PERCENTAGE STAY THERE THEIR ENTIRE LIFE VERSUS MOVING OUT? ON A MATURE CONTINUING CARE RETIREMENT COMMUNITY, I WOULD SAY ON AVERAGE YOU MIGHT SEE ANYWHERE FROM 10-15% OF YOUR INDEPENDENT LIVING TURNOVER EACH YEAR.

I WOULD SAY PROBABLY 95% OF THOSE ARE INDIVIDUALS THAT MOVE TO A HIGHER LEVEL OF CARE ON THE COMMUNITY OR HAVE PASSED AWAY ON THE CAMPUS.

YOU DO HAVE SOME INDIVIDUALS THAT WILL POSSIBLY MOVE OUT TO MOVE CLOSER TO A FAMILY MEMBER, A SON OR DAUGHTER WHO'S OUT OF STATE JUST TO BE CLOSER TO FAMILY.

BUT AGAIN, TO YOUR POINT, WHAT YOU SEE IS A MUCH LONGER LENGTH OF STAY.

PEOPLE MOVE IN, THEY STAY, AND YOU'RE NOT SEEING THIS HIGH TURNOVER OF PEOPLE MOVING IN AND MOVING OUT.

THAT'S ALL. YES.

>> GOOD EVENING. MY NAME IS MIKE BARTON AND MY WIFE AND I, DEANE, WE LIVE HERE IN SOUTH LAKE.

WE MOVED FROM THE WOODLANDS IN THE HOUSTON AREA ABOUT FIVE YEARS AGO, I RETIRED AND WE BOUGHT A HOME OVER IN THE TAMARRON AREA NEAR THE GOLF COURSE.

WE JUST LOVE THE AREA.

INTERESTINGLY, WE HAVE BEEN LOOKING AT THE OUTLOOK AT WINDHAVEN AND WE'VE BEEN CONSIDERING IT, AND WE ACTUALLY LOOKED AT ANOTHER PLACE CALLED VENTANA DOWN IN THE DALLAS AREA.

WE LOVE THE MODEL AND WE'VE ACTUALLY CONSIDERED MAKING A DEPOSIT AT THE OUTLOOK AT WINDHAVEN.

I WAS SAYING TO DEANE, I SAID, WE'RE NOT GOING TO DO IT BECAUSE NUMBER 1, I DON'T LIKE THE PLANO AREA, BUT I WOULD PUT A DEPOSIT DOWN IMMEDIATELY IF THEY HAD A PLACE HERE IN SOUTH LAKE.

OUR KIDS LIVE IN COLLEYVILLE, OUR GRANDKIDS.

I RETIRED AS THE HEAD OF HUMAN RESOURCES FOR A LARGE FORTUNE 100 COMPANY AND WE JUST THINK IT WOULD BE A PERFECT FIT FOR THE SOUTHLAKE COLLEYVILLE, KELLER, ALL THAT COMMUNITY AREA.

MY QUESTION REALLY IS MORE ABOUT TIMING.

IF YOU WERE TO BE SUCCESSFUL AND MOVE FORWARD WITH THIS, HOW LONG OUT ARE WE LOOKING AT.

WE WENT THROUGH THIS WITH OUR PARENTS, AND ONE OF THE THINGS WE LEARNED WAS THEY WAITED TOO LONG.

I'M 70 NOW AND I'M THINKING TO MYSELF, WHEN IS TOO LONG? I DON'T THINK I'M QUITE READY BUT I'M STARTING TO THINK ABOUT IT.

I'D LIKE TO KNOW MORE ABOUT THE TIMING OF THE PROJECT.

>> RUSSELL, I DON'T KNOW IF YOU WANT TO BE MORE SPECIFIC.

I CAN GIVE SOME GENERALITIES.

BUT TYPICALLY, ONCE WE KNOW THAT THE COMMUNITY'S RECEPTIVE AND THE CITY'S RECEPTIVE TO THIS CONCEPT, WE WILL ALREADY START TO DO SOME ENGINEERING AND ARCHITECTURAL WORK.

THE FIRST STEPS, ONCE WE GET PERMITS, IS WE WOULD OPEN A SALES OFFICE.

I GUESS THE BIGGEST UNKNOWN IS WHEN COULD WE GET A PROJECT PERMITTED? THAT MIGHT BE MORE OF A RUSSELL QUESTION, BUT THEN ONCE IT'S PERMITTED, WE WOULD OPEN A SALES OFFICE.

THAT'S TYPICALLY ABOUT ANYWHERE FROM A YEAR TO A YEAR AND A HALF, BECAUSE FOR US TO GET THE COMMUNITY FINANCED THROUGH THE MUNICIPAL BOND MARKET, THEY WANT TO KNOW THAT THIS COMMUNITY IS GOING TO BE SUCCESSFUL, AND SO YOU WANT TO SEE THAT WE HAVE ABOUT 60, 65, 70% OF THE UNITS PRESOLD.

THEN ONCE THAT HAPPENS, WHICH IS PROBABLY A YEAR, A YEAR AND A HALF, WE CAN START CONSTRUCTION.

CONSTRUCTION TYPICALLY LASTS AROUND TWO YEARS.

THAT'S ABOUT LET'S SAY, A THREE-AND-A-HALF YEAR PROCESS.

REALLY, I THINK TO ME WHICH I CAN'T ANSWER, AND MAYBE AGAIN, RUSSELL IS THE TIME FRAME FROM TODAY UNTIL WE WOULD KNOW THAT A PROJECT WOULD BE ABLE TO GO FORWARD.

>> YEAH. I'LL DISCUSS A LITTLE BIT ABOUT THE UPFRONT, THE RUN-UP TO ALL THOSE ACTIVITIES THAT SCOTT TALKED ABOUT.

EFFECTIVELY, WE WOULD HAVE TO GO THROUGH A DUE DILIGENCE PERIOD ON THE LAND.

THEN FOLLOWED UP BY REZONING, AS WE TALKED ABOUT.

IT WOULD HAVE TO GET REZONED, WE'LL HAVE TO SITE PLAN APPROVAL AND THEN WHAT WE WOULD CALL A PLAT.

[00:40:01]

ALL THAT WOULD TAKE ROUGHLY SIX MONTHS OR SO BEFORE WE KICK OFF ANY OF THOSE ACTIVITIES.

THE FIRST THING FIRST IS JUST TO MAKE SURE WE HAVE SOME POSITIVE INPUT FROM THE COMMUNITY TO SAY THIS IS A USE ON THIS SITE AND THAT THE DENSITY AND THE HEIGHT, ALL THOSE THINGS ARE DOABLE.

BEFORE WE LAUNCH INTO A FULL ZONING REQUEST TO MAKE SURE WE'RE NOT GOING TO GET A LOT OF PUSHBACK.

ONCE AGAIN, IT'S ZONED, LARGE LOT, SINGLE FAMILY, SO IT'S CHANGING IT TO A MORE INTENSE USE.

BUT AS MY COLLEAGUE BUD GREEN MENTIONED, THE COMPREHENSIVE PLAN MENTIONS ALREADY THAT IT IS CONSIDERED FOR A MIXED USE PROJECT.

IT'S ALREADY PROPOSED, OR AT LEAST CONSIDERED THROUGH THE CITY'S COMPREHENSIVE PLAN TO BE A MORE INTENSIVE USE.

WE DON'T THINK THAT THIS IS ANY MORE INTENSIVE THAN MIXED USE.

AS WE TALKED ABOUT, THE TRAFFIC IS GENERALLY LESS THAN EVEN SINGLE FAMILY IF WE DID A MEDIUM LOT SINGLE FAMILY.

I THINK IT IS COMPLEMENTARY TO THE EXISTING USES, BOTH EAST AND WEST.

NORTH AND SOUTH OBVIOUSLY ARE MORE COMMERCIAL AND RETAIL USES.

BUT YEAH, TIMING WISE, THERE'S A LITTLE BIT OF RUN UP, BUT OUR HOPE IS TO TRY TO GET SOME GOOD TRACTION TO MOVE FORWARD TO DO ALL THOSE ACTIVITIES THAT SCOTT SPOKE ABOUT..

>> [INAUDIBLE] IT COULD TAKE SOME TIME. ONCE WE HAVE A RECOGNIZABLE PACK FOR THE ZONING, THEN WE'LL START THE ACTIVITIES THAT SCOTT AND RUSSEL TALKED ABOUT.

THE DESIGN OVERLAPS WITH A LOT OF THE MARKETING STUFF.

THAT USUALLY IS, TO SCOTT'S POINT, A YEAR, A YEAR AND A HALF, WE CAN FULLY FINANCE THE PROJECT AND THEN WE'RE OFF AND RUNNING WITH THE CONSTRUCTION.

WE FIND IN TODAY'S WORLD BECAUSE OF RATES AND BECAUSE OF JUST THE CONSTRUCTION AND COST INDUSTRY, WE'LL TRY TO SET UP OUR SCHEDULE AND WE'LL DO SOME EARLY START WORK ON THE SITE BECAUSE BY THEN WE'LL HAVE ALREADY TAKEN SITE MAP.

WE'LL START EARLY SITE WORK AND THEN DO THE FINANCING. IT COULD REDUCE THE SCOTT INTERVAL.

>> AS RESIDENTS, WOULD YOU SUGGEST THAT WE KEEP COMING TO THIS SPIN MEETINGS OR PUBLIC MEETINGS AND VOTING BUT PUT OUR OPINION FORTH?

>> NO, ABSOLUTELY.

THIS HAS HAPPENED ON OTHER PROJECTS YOU'VE BEEN INVOLVED WITH.

PEOPLE WILL ACTUALLY COME AND SAY, WE'RE AWARE OF THE COMMUNITY, WE TOURED THE COMMUNITY, OR WE'RE AWARE OF THE CONCEPT AND WE SUPPORTED.

ABSOLUTELY, THAT'S VERY IMPORTANT.

PARTICULARLY WHEN YOU GET INTO THE PUBLIC HEARING AND YOU HAVE A CITY COUNCIL OR A PLANNING ZONE COMMISSION, THEY WANT TO HEAR FROM THE RESIDENTS TO SEE SUPPORT.

>> WE JUST WATCH SPIN LIKE THAT. [INAUDIBLE].

>> YEAH, ABSOLUTELY. DEPENDING ON WHERE, WHAT THE OUTCOME IS ON THIS SPIN MEETING, WHAT INPUT WE GET FROM STAFF AND OTHERS, WE'LL MAKE THE DECISION WITH MAYBE A LITTLE BIT MORE GRAPHIC WORK SO WE CAN BE PREPARED FOR A PLANNING ZONING MEETING.

WE'LL MAKE APPLICATIONS TO PLANNING ZONING, WE'LL DO OUR FIRST PUBLIC HEARING.

MAYBE WE HAVE TO GO BACK.

IT'S NOT UNCOMMON THAT YOU GO A COUPLE OF TIMES, AND THOSE TAKE MONTHS.

IF THAT GETS APPROVED, THEN OFF WE GO TO THE CITY COUNCIL.

WHEN THAT GETS APPROVED, NOW WE'VE GOT THE ZONING APPROVAL, WHICH GIVES US A LOT OF POWER RELATIVE TO FINANCING COMPONENTS AND OTHER OPPORTUNITIES ABOUT FINANCING TO GET THE LAND TAKE DOWN EARLIER.[OVERLAPPING]

>> THE SAME THING.

>> I THINK IT GOES TO PLANNING, [OVERLAPPING] IF THEY GET THE APPROVAL.

I THINK IN SOUTH LAKE YOU STILL GOT TO GO TO CITY COUNCIL AND THEY MAY THEN APPROVE IT AND YOU GET THE ZONING OF YOU GO.

>> ARE THERE ANY OTHER QUESTIONS OR WERE ANY SUBMITTED?

>> NO. THERE WERE NO ELECTRONIC SUBMISSIONS.

>> THANK YOU.

>> [BACKGROUND].

>> ANY ANYMORE QUESTIONS FROM THE AUDIENCE? THANK YOU.

>> I DIDN'T HAVE A QUESTION I JUST WANT TO STATE [OVERLAPPING]

>> DO YOU WANT TO COME UP TO COME UP TO THE MICROPHONE?

>> COME UP TO THE MICROPHONE, PLEASE? THAT'S SO PEOPLE WHO MAY BE LISTENING ONLINE CAN HEAR.

>> I JUST WANT TO MAKE A COMMENT.

I CAN JUST ALLY HER FEARS WHEREVER I THINK SHE LEFT, BUT THAT THIS IS GOING TO BE NOWHERE NEAR AN APARTMENT COMPLEX FROM WHAT WE'VE SEEN WITH THE OVERLOOK AT WINDHAVEN.

IT'S GOING TO BE VERY NICE. THAT'S IT.

[00:45:01]

>> THANK YOU AND WITH THAT,

[3. SPIN2024-02 - An applicant is proposing an approximately 10,800 sq. ft. retail/office building with an adjoining cafe located at 1700 N. White Chapel Blvd. within SPIN Neighborhood #3. ]

WE'LL MOVE TO OUR SECOND APPLICANT.

JACOB SCOGGINS IS HERE TO PRESENT OUR FINAL ITEM ON THE AGENDA THIS EVENING, WHICH IS SPIN 2024-02.

AN APPLICANT IS PROPOSING AN APPROXIMATELY 10,800 SQUARE FOOT RETAIL/OFFICE BUILDING WITH AN ADJOINING CAFE LOCATED AT 1,700 NORTH WHITE CHAPEL BOULEVARD WITHIN SPIN NEIGHBORHOOD NUMBER 3. WITH THAT, PLEASE PROCEED.

>> MY NAME IS JACOB SCOGGINS.

I'M AN ARCHITECT HELPING KATIE AND SARAH LAMBERT OF LAMBERT HOME WITH THEIR NEW PROJECT AT HIGHWAY 114 NORTH WHITE CHAPEL.

LAMBERT HOME WAS FOUNDED IN 2015 BY SISTERS KATIE AND SARAH.

THAT'S A FAMILY OWNED BUSINESS AND THEY HAVE REALLY THREE MAIN SECTORS CURRENTLY OF THEIR BUSINESS.

ONE IS A RETAIL SHOP LOCATED AT SOUTH LAKE BOULEVARD.

THE OTHER SECTOR IS AN INTERIOR DESIGN STUDIO LED BY SARAH WHICH SHE DOES BEAUTIFUL WORK.

AND THERE'S A CONSTRUCTION DIVISION THAT'S LED BY KATIE AND HER FATHER.

THEY'VE CONTINUED TO GROW SINCE 2015 AND ARE NEEDING TO SPREAD THEIR WINGS. SO THAT'S WHY WE'RE HERE TODAY.

MOVING FORWARD, THEY HAVE VISIONS FOR FUTURE BRANDING, A CAFE, CHILDREN'S BOUTIQUE, MEN AND WOMEN'S CLOTHING LINE.