Updated Response, p 41

Chelsea Connection – Prospective Tenant Profiles: (cont.)
Livery Apartments (LA) Contact: The Chelsea Connection, LLC
Mission/ Description/ Core Values:
• LA includes several studio apartments with an urban flair. Includes private, secure open floor plan apartment and shared community spaces:
• Fosters community interaction in shared living space, laundry, roof garden sunroom and patio,
• Individually leased by TCC. Potential for conversion to condos in future.
• Do not compete with McKinley’s proposed larger units planned for Rockwell building.
Program infrastructure needs/ desires:
• Approximately 500 SF per unit. Power, lights. Minimum of 1 egress window.
• Ground, polished exposed aggregate concrete floors. Open ceiling – exposed structure.
• In-floor radiant heat. Ductless split system AC. Energy recovery ventilation. Day lighting. Clerestory in living area for natural ventilation (in suitable weather). Superior insulation and energy efficiency.
• Compact but functional open kitchen incorporating combination of open shelving and high quality cabinets, locally harvested wooden breakfast bar, under-counter refrigerator, microwave, smooth surface range.
• Modern bathroom. Walk-in shower. Day lighting.
• Walk-in, flexible use closet/ storage.
• Secure, enclosed parking available, leased separately.
Business Model Projections
• Fully developed and leased by TCC, LLC. Anticipated rent: 8 units at $500/mo, utilities included.
• Parking: 8 indoor spaces at $100/mo.
• Anticipated residents: approximately 12. No full-time employees. Equivalent of 0.5 full time workers to manager and maintain the complex.
• TCC, has one verbal commitment for one of the units, with very flexible occupancy expectations.