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Attachment A <br />GARDEN STATION UPDATE <br />MARCH 30, 2017 <br />CONSTRUCTION UPDATE <br />Phase 1 complete: 6 of the 18 units <br />Construction underway for buyer customizations on existing units in Phase 1. <br />Remaining site items to be completed this spring: <br />The existing silt fence will be repaired or replaced as needed. <br />o <br />Continued site maintenance, weed control and debris removal. <br />o <br />Phase 2 is in for permit review with construction anticipated to begin this spring, hopefully no later than <br />May 1. <br />MARKETING UPDATE <br />Phase 1 <br />Closed: 1 <br />Sale Pending: 5 <br />Available: 0 <br />Phase 2 <br />Sale Pending: 5 <br />Available: 1 <br />Phase 3 <br />Sale Pending: 1 <br />Available: 5 <br />The Spring Parade of Homes Showcase has been very active with several hundred potential buyers going <br />through Garden Station. Shortly before the start Parade, buyer incentives were offered that would continue <br />throughout the event. This encouraged buyers who were taking their time to make a decision to move forward <br />as well as attract several new buyers. All existing units quickly received purchase agreements as well as units in <br />the next phase. The quick influx of sales has allowed us to move forward with Phase 2 as hoped and received <br />approval from Western Bank to begin construction; plans are currently in plan review. Construction will begin <br />this spring with current buyers moving in by the end of 2017. <br />We have also received the first lot reservation for Phase 3 along Lovell Avenue and there has been interest <br />expressed by several other buyers for the homes along Lovell. The marketing team is currently reaching out to <br />buyers who expressed serious interest in the past to let them put offers in if still interested before listing on the <br />MLS for lot reservations. The goal for Phase 3 will be to begin this fall, keeping us on track for 2018 completion. <br /> <br />