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the commercial uses on the ground levels of surrounding buildings should help activate the <br /> plaza. <br /> Mr. Dimit shared the conceptual designs of the buildings, highlighting that the Roundstone <br /> building is the more modern and urban building on the site. Much of the building designs on the <br /> site incorporate masonry to match with the rest of downtown Lakewood. <br /> Mr. Dimit stated that the buildings to the south of the site are the lese dense spaces and were <br /> designed with an attempt to match single family homes on Belle Ave. The site undertakes a <br /> transition to be less dense, the further south it goes, with apartments looking outward onto the <br /> surrounding streets. He described the apartment features and overall numbers, with 60-70% of <br /> apartments being 1-bedroom units. He added that there should be plenty of room on the site to <br /> install nice yard with calming streetscapes. A private drive will be built on the site between <br /> Marlowe and Belle, which will allow people parking in the garage to get to the apartment <br /> buildings. <br /> Mr. Dimit then described an apartment building near the middle of the site that will have 70 <br /> apartments across 4 stories and will be built at grade. The building is designed with a double <br /> loaded corridor with an elevator. He anticipated the top floor of the building being pulled back to <br /> bring the appearance of the height of the building down and to enhance the top apartments. <br /> Mr. Dimit concluded by speaking about Building 1 which is positioned on the corner of Marlowe <br /> & Detroit. The building is currently designed for 1 level of commercial space, with a basement <br /> that connects with the Curtis Block building, which would have 4 levels of apartments above it. <br /> The design incorporated a facade save of the Curtis Block building. <br /> Mr. Sobczak spoke about the connection between Building 1 and the Curtis Block building, and <br /> the various steps CASTO took to come up with current configuration between the buildings. He <br /> iterated that his company had studied many versions of the Curtis Block building and its <br /> incorporation into the project over the last year. Throughout that period of time, information was <br /> gathered on the Curtis Block and a full save was studied. There are five 1,100 square foot spaces <br /> in it, and under a full save, Building 1 would need to be stepped back for separation between the <br /> 2 buildings. Under this exercise, only 5 units would then be available on the 2nd floor, with no <br /> ability to incorporate 3rd or 4h levels to the building. This would lead to 2,200 square feet less in <br /> commercial space, and Mr. Sobczak noted that the commercial space that would be left is not <br /> dynamic for a potential user. The space would be leasable at an extremely discounted rate that <br /> does not tie into the larger plaza development. A full save would also cause the largest leasable <br /> commercial space to decrease from 17,000 square feet to 8,800 square feet. CASTO is in <br /> preliminary talks with a potential tenant who is looking for space in the 10,000 — 12,000 square <br /> foot range, and a full save configuration would not allow them to consider the space. Mr. <br /> Sobczak described $7 million in cost to save the building in full, which in the best case could <br /> yield $2 million in state/federal tax credits if they were awarded. He added that minimizing the <br /> commercial space would incur an ongoing revenue loss to the project, concluding that a full save <br /> would not create dynamic space that ties in with the rest of the development. <br /> 2 <br />