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The Venue - Legacy Partners

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LEGACY PARTNERS<br />

<strong>The</strong> <strong>Venue</strong>


<strong>The</strong> <strong>Venue</strong><br />

<strong>The</strong> <strong>Venue</strong> consists of 279 luxury apartment homes in a 4-story wood<br />

frame building with a 4-level structured parking garage. <strong>The</strong> 4.3-acre site is<br />

located on the NW corner of Galatyn Parkway and Performance Drive in<br />

Richardson, Texas in an area referred to as the “Telecom Corridor”.<br />

<strong>The</strong> site is within waking distance of a DART (Dallas Area Rapid Transit)<br />

light rail station, and is across the street from the former Nortel<br />

headquarters complex that has been purchased by Countrywide Financial<br />

Services. Countrywide plans to employ over 7,000 people at this location.<br />

Other advantages of the location include the Renaissance Hotel and<br />

convention center and the Eisemann Performance Center as well a many<br />

new office complexes.<br />

<strong>The</strong> Richardson Transit project will provide the next generation of modern<br />

apartment design and style with traditional floor plans that provide an<br />

urban alternative to existing conventional apartment projects.<br />

Project Summary


Design and <strong>The</strong>me<br />

<strong>The</strong> <strong>Venue</strong> will incorporate common design elements which will provide<br />

residents with the best of modern luxury, design, amenities and service.<br />

Apartments will have high ceilings creating light airy spaces, a “stainless”<br />

steel style finish for all kitchen appliances, baths with full length mirrors, linen<br />

storage and seated knee spaces and state of the art telecommunications.<br />

<strong>The</strong> project will be designed with a musical / theatrical theme to compliment<br />

the Eisemann performing arts center which is adjacent to the project. <strong>The</strong><br />

theme will be reflected in all design elements beginning with the landscape,<br />

hardscape and building exteriors. <strong>The</strong> theme will be also carried through the<br />

project into the common and amenity areas, the corridors and the apartments.<br />

<strong>The</strong> project will incorporate a space for retail at the NW corner facing the<br />

Renaissance Hotel. A restaurant and some types of convenience stores<br />

should find this location advantageous.<br />

Project Summary


<strong>The</strong> <strong>Venue</strong><br />

PROJECT DESIGN IS SUBJECT TO REVISIONS WHICH MAY BE REQUIRED BY THE CITY OF RICHARDSON OR OTHER AGENCIES


<strong>The</strong> <strong>Venue</strong> – Building Program and Amenity List<br />

<strong>The</strong> <strong>Venue</strong> project consists of a four-story wood frame building wrapping a four level structured<br />

parking garage which will be made of pre-cast elements.<br />

Building Program and Amenity List<br />

• Key Fob Access Control for Doors<br />

• Structured Parking Garage – Residents Park on the Level they Live on - Selected Private Garage Boxes<br />

• Arched Doorways, Niches, Hallways<br />

• Fitness Center with Tanning<br />

• Common room for Residents to socialize with Wi-Fi<br />

Service<br />

• Multipurpose <strong>The</strong>atre Center with Big Screen Projection – adaptable to multiple uses such as Computer<br />

Gaming & Video Conferencing<br />

• Private music / screening rooms<br />

• Fountain View Apartments with Private Patios or Balconies<br />

• Conference Room<br />

• Courtyard Swimming Pool with Jacuzzi, Fountains and Sunbathing Terraces<br />

• Two Elevators – one for Residents and one for Service<br />

• Garden Courtyard<br />

• Insulated Double Glass Windows<br />

• Insulation R/13 Exterior Walls, R/11 Party Walls, R/11 Ceiling and R/15 or R/30 Roof<br />

• Sound System in Public Areas and at Pool<br />

• Storage Lockers<br />

• Fire Sprinkler System in Building and Garage<br />

• Dramatic Entry from Performance Drive<br />

• Striking Exterior Building Lighting and Landscaping


<strong>The</strong> <strong>Venue</strong> – Building Program and Amenity List<br />

Apartment Program and Amenity List<br />

• Various Arched Doorways, Niches & Hallways<br />

• 7-Foot Entry Doors<br />

• Nine Foot Ceilings<br />

• Kitchen Islands with Cabinets and Drawer Banks in Selected Apartments<br />

• All Apartments will have a Kitchen Pantry with Door or Cabinet Front<br />

• 42 Inch Wall Cabinets in selected Kitchens<br />

• Walk-around around Showers and Large Garden Tubs<br />

• Large Windows in Selected Apartments<br />

• Bookcases or Shelves in Selected Apartments<br />

• Ceiling Fans with Light Kits in selected Bedrooms<br />

• Crown Molding Detail – Consistent with the <strong>The</strong>me<br />

• Den, Library and/or Office with Pre-wire for Computer Modem & Fax in Selected Apartments<br />

• Built-in in Multipurpose Desks in Selected Apartments<br />

• Seated Make-Up area with Mirror in Selected Baths<br />

• Large Walk-in Closets<br />

• Large Sliding Glass or French Doors to Patios or Balconies<br />

• Full Sized Washer/Dryer Connections in most Apartments<br />

• Wood Burning Fireplaces with Glass Doors in Selected Apartments s on the Fourth Floor<br />

• Individual HVAC with Programmable <strong>The</strong>rmostats


<strong>The</strong> <strong>Venue</strong> – Building Program and Amenity List<br />

Apartment Program and Amenity List – (continued)<br />

• Individual Metering of Electric Service<br />

• Intrusion Alarm with Monitoring Available in Ground Floor Apartments<br />

• Light Orange Peel Texture in Apartment Interiors<br />

• Mirror Accent Walls in Selected Apartments<br />

• Panel Embossed Interior Doors<br />

• Pantries and Linen Closets in all Apartments<br />

• Private Balconies and/or Garden Terraces in Selected Apartments<br />

• Private Digital TV System with Voice, Digital Video & High Speed ed Data Services<br />

• Low Voltage Track Lighting in Living Room and Kitchen<br />

• Two-tone Interior Paint with Selected Accent Colors<br />

• Wood Vinyl Floors in Selected Living/Dining area<br />

• Kitchen Appliances with Stainless Look – Microwave Ovens, Side by Side Refrigerators with filtered through<br />

the Door Water & Ice Service in Selected Apartments, Ranges with w<br />

Ceramic Burner Cook Tops<br />

• Master Baths with Tile Tub and Shower Surround, Low Profile Toilets, Mirrored Vanity with Knee-space in<br />

Selected Apartments (Selected Baths have Double Sink with Tall l Cabinet / Drawer Bank and / or<br />

Double Sink & Knee-space), and Linen Storage.<br />

• Wood Cabinetry in Kitchen & Bath - (Melamine finish interior with movable shelves)<br />

• Ceramic Tile Floors for Selected Baths


<strong>The</strong> <strong>Venue</strong> – Design Team<br />

In addition to the development staff at Legacy Partners, the design team for <strong>The</strong> <strong>Venue</strong><br />

consists of seasoned professionals with many years of multifamily experience.<br />

• Architect<br />

• MEP<br />

• Structural<br />

• Civil Engineers<br />

• Interior Design<br />

• Landscape / Hardscape<br />

• Signs, Print & Graphics<br />

• Market Study & Unit Mix<br />

Humphreys and Partners<br />

Basharkhah Engineering<br />

Henkel Engineering and Jaster - Quintanilla<br />

Kimley-Horn and Associates, Inc.<br />

Faulkner Design Group, Inc.<br />

Enviro Design Landscape Architects<br />

Fource Communications<br />

Foley & Puls, Inc.


Market Information and Location<br />

<strong>The</strong> <strong>Venue</strong>


<strong>The</strong> <strong>Venue</strong><br />

<strong>The</strong> Federal Reserve Bank of Dallas says that the Dallas metro’s economy has<br />

made solid improvement since its recovery in 2003, as reflected in the<br />

business-cycle index (below), which continued to rise steadily in November.<br />

Over the past three months, the index’s pace of growth has moderated<br />

somewhat, mostly due to disruptions caused by the recent Gulf Coast<br />

hurricanes. Nevertheless, the index is up 3 percent year-to-date.


<strong>The</strong> <strong>Venue</strong><br />

<strong>The</strong> D/FW Metroplex area is home to over 5,800,000 people. <strong>The</strong> Richardson<br />

apartment market is currently 95.1% occupied per M/PF YieldStar with newer<br />

properties (1996 + construction) being 96.9% occupied. <strong>The</strong> Texas Workforce<br />

Commission estimates that Dallas has added over 36,000 jobs in 2005. A<br />

market and feasibility study along with a current update is available upon<br />

request.<br />

D/FW Population Growth – Census Bureau Data


<strong>The</strong> City of Richardson<br />

Located in Galatyn Park, a planned development in the City of Richardson, Texas,<br />

the 4.3-acre site is situated on the Northwest corner of Galatyn Parkway and<br />

Performance Drive.<br />

Richardson, a northern Dallas suburb with a population of 95,650, is the 10 th<br />

largest city in the D/FW metro area. Richardson’s average household income is<br />

$87,337 and is expected to grow to over $100,000 by 2008. <strong>The</strong> city has seen little<br />

multifamily construction in recent years and there are only a handful of<br />

multifamily units under construction in the market area at this time.<br />

In the 1980’s, Richardson was a bedroom community that saw significant growth.<br />

It became known for its “Telecom Corridor®” because of companies like Nortel,<br />

Alcatel, Erickson and others that built significant corporate facilities.<br />

<strong>The</strong> recession and the dot-com and telecom busts of 2001 created significant job<br />

loss but recently there have been numerous positive developments like<br />

Countrywide Financial’s relocation, Texas Instrument’s new 1.1 million square<br />

foot semiconductor fabrication plant and the Fossil Company’s corporate<br />

headquarters relocation across I-75 to the West.


<strong>The</strong> City of Richardson<br />

Home to the Telecom Corridor® area, Richardson is known around the world as<br />

the high-tech center of North Texas and the Dallas-Fort Worth Metroplex. <strong>The</strong> 11-<br />

mile Telecom Corridor® area averages 50 technology companies per square mile,<br />

making it one of the densest high-tech areas in the United States.<br />

Richardson is currently a major employment center drawing thousands of<br />

workers, both tech and non-tech, to its more than 5,700 businesses, including<br />

multi-national employers such as Nortel, Samsung, Cisco Systems, Hewlett-<br />

Packard, MCI and Fujitsu.<br />

<strong>The</strong> world-class University of Texas at Dallas, with more than 14,000 students,<br />

also calls Richardson home and attracts many of the brightest scholars from the<br />

area's award-winning public school systems.<br />

Located just 15 miles north of downtown Dallas, Richardson offers easy access to<br />

major freeways and a public transit system (with direct access to DFW<br />

International Airport by 2006). Richardson also boasts some of the finest Class A<br />

office and industrial buildings, and build-to-suit corporate campus acreage


Employment<br />

Centers<br />

Major<br />

Major<br />

Employment<br />

Employment<br />

Zone<br />

Zone<br />

Major<br />

Major Employment<br />

Employment Zone<br />

Zone<br />

Major<br />

Employment<br />

Zone<br />

SITE<br />

• <strong>The</strong> <strong>Venue</strong> is<br />

conveniently<br />

located near many<br />

of the major<br />

employment areas<br />

of the D/FW<br />

Metroplex<br />

Major<br />

Employment<br />

Zone


Project Location<br />

• Aerial Photo of<br />

Galatyn Park<br />

• Residential Site<br />

(in red)<br />

• 4.3 Acres<br />

Location


Project Location<br />

DART Station<br />

• Aerial Photo of<br />

Galatyn Park<br />

• Residential Site<br />

(in red)<br />

• 4.3 Acres<br />

• Arrow indicates<br />

DART station<br />

(commuter rail)<br />

Location


Galatyn Park Background<br />

• Galatyn Park was created by members of the Hunt family with the<br />

concept that it would serve as a “city within a city” in Richardson,<br />

Texas.<br />

.<br />

• Galatyn Park’s infrastructure is modern, attractive and very well<br />

maintained. It has attracted major corporations such as Nortel and<br />

Countrywide Financial.<br />

• <strong>The</strong> City of Richardson has invested more than $5,000,000 in<br />

improvements to the streets and the public plaza bordering the site<br />

including an elaborate “dancing” fountain.<br />

• <strong>The</strong> following slides show the Galatyn Park land area with current<br />

as well as planned usage.<br />

Location


Location<br />

• Development<br />

Map for Galatyn<br />

Park as of<br />

December 2005


Location<br />

• Development Map<br />

for the Urban<br />

Center of Galatyn<br />

Park as of<br />

December 2005


Project<br />

Retail<br />

Location<br />

at NW<br />

Corner<br />

Location<br />

• Retail Location<br />

indicated by the<br />

yellow arrow<br />

• Residential Site<br />

in red<br />

Location


Elevations and Unit Plans<br />

<strong>The</strong> <strong>Venue</strong>


<strong>The</strong> <strong>Venue</strong><br />

A View of the Northwest Corner


Apartment Home Plans<br />

A1 – 624 SF<br />

A2 – 700 SF


Apartment Home Plans<br />

A3 – 760 SF<br />

A4 – 819 SF


Apartment Home Plans<br />

A5 – 881 SF<br />

A6 – 930 SF


Apartment Home Plans<br />

A7 – 1020 SF<br />

B1 – 988 SF


Apartment Home Plans<br />

B2 – 1079 SF<br />

B3 – 1099 SF


Apartment Home Plans<br />

B4 – 1233 SF<br />

B5 – 1233 SF


B6 – 1416 SF<br />

Apartment Home Plans


B7 – 1622 SF<br />

Apartment Home Plans


C1 – 1371 SF<br />

Apartment Home Plans


Apartment Home Plans<br />

C2 – 1449 SF


C3 – 1559 SF<br />

Apartment Home Plans


Legacy Partners<br />

• Legacy Partners has a 30+ year history in the Western United<br />

States.<br />

• Legacy has grown to serve clients in California, Arizona, Colorado,<br />

Nevada, Texas, New Mexico, Oregon, Utah and Washington.<br />

• <strong>The</strong> Company has developed more than 55,000 apartment homes,<br />

and our current management portfolio includes more than 23,000<br />

apartments.<br />

• Legacy Partners has more than 1,100 team members in 10 regional<br />

offices and manages greater than $3.8 billion in real estate assets.<br />

• Legacy’s Texas office opened in October of 2004 and the first Texas<br />

project, the Delano, is currently under construction. Delano<br />

consists of a 4-story wood frame building with a pre-cast concrete<br />

parking garage.


Quality and innovation are key ingredients in<br />

Legacy Partners’ projects…<br />

• Legacy maintains an award winning tradition which is<br />

evidenced by both the success of our projects and the<br />

recognition received from the most prestigious industry<br />

organizations.<br />

• Using the best industry practices in both management and<br />

development, Legacy creates extraordinary value for its<br />

partners, lenders and clients as well as for the municipalities<br />

we work with.<br />

• Learn more about Legacy and see our projects in<br />

development at http://www.legacypartners.com.


Examples of Multifamily<br />

Developments Completed by<br />

Legacy Partners Residential, Inc.


<strong>The</strong> Olympus<br />

Seattle, WA<br />

327 Apartments<br />

14,800 SF of Ground Level Retail<br />

2002 Completion


<strong>The</strong> Plaza at the Arboretum<br />

Santa Monica, CA<br />

350 Apartments<br />

9,460 SF of Ground Level Retail<br />

2001 Completion<br />

<strong>The</strong> Plaza at the Arboretum received the 2002 NAHB Pillars of the Industry Award for the Best Mixed-Use Development


<strong>The</strong> Ballpark Lofts<br />

Denver, CO<br />

355 Apartments<br />

17,393 SF of Ground Level Retail<br />

2002 Completion


Legacy at Studio City<br />

Studio City, CA<br />

Total Apartments: 276<br />

Property Opened: October 2002<br />

Legacy at Studio City received the 2004 NAHB Pillars of the Industry Award for the Best Luxury Apartment Community/Primary Market


Examples of Multifamily Projects in<br />

Various Stages of Development<br />

Legacy Partners Residential, Inc.


<strong>The</strong> Delano<br />

Las Colinas, Irving, Texas<br />

258 Apartments<br />

With<br />

Structured Parking<br />

~<br />

Under Construction


Legacy at Wilshire Miracle Mile<br />

Los Angeles, CA<br />

197 Apartments<br />

27,000 SF of Street<br />

Level Retail<br />

Under Construction


7950 West Sunset<br />

Los Angeles, CA<br />

181 Apartments<br />

11,000 SF of Street Level Retail<br />

In Development


Main & Jamboree<br />

Irvine, CA<br />

294 Apartments<br />

13,000 SF of Street Level<br />

Retail<br />

Under Construction

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