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Exhibit 21:City Council Questions to Applicant from September 17, 2024 Hearing services, 24-hour reception, fine dining and onsite restaurants, room service, multiple pools and hot tubs, high-class fitness centers, bellhops, valet parking and transportation, day spas, meeting and conference facilities, business centers, and an array of special suites.The Specific Plan has also been structured with the flexibility of allowing for additional hotels to be constructed on the site without requiring additional analysis subject to approval by the Planning Commission. 2. How many units will be for sale, if any, and why? Applicant’s response: Related Bristol is situated on land that has been owned since 1903 by one of the original pioneering farming families of Orange County, the Callens Family (“The Family”). Their stake in this community and in this City goes back to the beginnings of the City of Santa Ana and Orange County. The Callens family have been the stewards of the land for over a century, the land is a family heirloom which, they intend to own for perpetuity and do not want to sell any part of the property, whether to Related or to future homeowners. As such, the Related Bristol project is subject to a 99-year ground lease with The Family. For-sale housing on a ground lease with on-going ground lease payment obligations causes for-sale housing to be financially infeasible. While ground lease for-sale housing has been done on a limited scale in the past, that product and financing was produced decades ago in a different financial market which does not exist today. Financing and investor interest is not available for for-sale housing on a ground lease in this location. Related Bristol’s ground lease would obligate a home buyer to make annual ground lease payments in addition to their annual cost of home ownership. Historically, the value of homes on ground leases underperform the market in relation to homes on fee simple land. The value of ground lease homes declines over time as the remaining ground lease term shortens and the home ages, eventually reaching zero at the end of the lease unless extended. These fact patterns significantly diminish the marketability and appeal of such homes given buyers have other choices (i.e., homes on fee simple land), and subsequently, lenders, buyers, and investors elect to not invest. Due to the declining nature of the value of these homes over time, for sale homes on a ground lease are not an effective tool for creating generational wealth. The City of Santa Ana approved the South Bristol Corridor General Plan Amendment and did not differentiate between for-sale or for-rent residential units. From a legal perspective, the applicant has presented a General Plan complaint project, which is why a General Plan Amendment is not required to implement the project. Page 2 of 3