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ER No. 2019-85/DBA No. 2020-01/SPR No. 2020-01/SPR No. 2020-02/DDA <br />November 17, 2020 <br />Page 3 <br />Item <br />Mixed -Use Development Parcel 1 <br />Hotel Parcel 2 <br />Units/Rooms <br />171 units <br />75 rooms <br />Building <br />197,726 SF <br />63,069 SF <br />Square <br />Footage SF <br />Unit Mix/Room <br />95 studios <br />66 standard rooms <br />51 one -bedrooms <br />9 suites <br />25 two -bedrooms <br />Unit SF <br />547 to 722 SF one -bedrooms <br />418 to 527 SF standard rooms <br />625 to 968 SF one -bedrooms <br />855 SF suites <br />1,002 to 1,637 two- <br />bedrooms/penthouse <br />Commercial SF <br />13,419 SF 520 to 3,692 SF units <br />N/A <br />Height & <br />16 stories, 193'-10" <br />10-stories, 127'-6" <br />Stories <br />Parking <br />196 spaces <br />83 spaces <br />1 space/1 bedroom and 2 spaces/2 <br />1 space per room + 1 space per 10 <br />bedroom <br />rooms <br />Open Space/ <br />1 st floor: 731 SF lobby and 727 SF <br />1 st floor: 4,046 SF lobby <br />Amenities <br />lobby <br />3'd floor: 734 sf public outdoor area <br />3rd floor: 1,184 SF public outdoor <br />4th 6th 8th floors: 287 SF guest terrace <br />deck <br />5th 9th floors: 287 SF amenity space <br />4th floor: 731 SF fitness room, 730 SF <br />7th floor: 287 SF meeting room <br />outdoor deck <br />10th floor: 3,722 SF seating area, 853 <br />5th floor: 733 SF event space, 3,901 <br />SF meeting room and 287 SF terrace <br />outdoor deck <br />16th floor: 2,925 SF rooftop pool deck <br />Background <br />On September 16, 2014, the City Council directed the Planning and Building Agency (PBA) to <br />release a Request for Qualifications (RFQ) for the 3rd and Broadway Development Project. The <br />RFQ outlined several project components desired by the City Council. Among the components of <br />the new project was a desire to include a hotel/hospitality component. Five proposals were received <br />and only the Caribou Industries proposal included a hotel. <br />In 2016, the project was put on hold due to several City executive staff changes. On March 21, <br />2017, the City entered into an Exclusive Negotiation Agreement (ENA) with Caribou Industries for <br />the 3rd and Broadway project. To assist with the negotiations, the City also entered into a contract <br />with consultant Lisa Stipkovich to lead negotiations for the City and identify transaction business <br />terms. On May 7, 2019, the City Council approved the execution of a second ENA with Caribou to <br />allow for the entitlement process and the final negotiation of the business terms for the DDA. Since <br />the execution of the second ENA, the developer has been working on his entitlements for the <br />project. <br />75A-3 <br />