545 Week 7 Presentation .2

Hello team. I am traveling today

But wanted to make this brief announcement that I'm very excited about.

We are approaching the 25 year anniversary of our master development,

city heights urban village.

So I've been thinking a lot about how we should commemorate this pivotal project.

It's important that we remind ourselves that 25 years ago

City Heights had the highest crime rate in san Diego.

It did not even have a full service grocery store.

The infrastructure was crumbling on our most culturally diverse neighborhood,

but when I drive by today and see

the kids walking from Rosa Parks elementary school on

their way to the library and outdoor theater

where my family goes to the farmers market.

I'm very proud of its lasting impact

and given the current attention on poor policing.

I think about the joint use gym that we designed within the

police station that allows officers to engage the public in healthier ways

and regarding the retail center

we may take for granted now how pivotal it was to convince Starbucks and others

that their stores would be successful in an urban neighborhood.

From day one that Starbucks patio was

quickly filled with students and business people

that these corporate retailers were not aware existed in such high numbers

further.

The success of those businesses made it even made it easier

for independent coffee shops and restaurants to get small business loans.

Essentially, this project ignited new investment in City Heights,

but it also gave us credibility.

So I asked myself how should we commemorate, give ourselves a party,

give a speech

give back.

Mhm

Yes, give back

City Heights has given us so many opportunities.

And while there has been a lot of volunteer work involved,

we have profited from this community.

So when habitat for humanity asked if we

would be interested in sponsoring one home renovation,

I signed us up for 10.

As you can see, we're looking at the eight block development of the village.

The red triangles are the location of five of the 10 homes that we will be renovating

to be clear.

These homes all require major construction that will

take at least six months to complete.

We'll talk more about funding in the near future.

But as you can see,

we're already at 70% of our goal with habitat

for humanity providing half along with our donation.

So that only leaves 150 k we're in a great position.

In fact,

our ceo would tell you that we're in a much better position

than he was in the early days of funding the village.

Okay.

I understand that you may be concerned about how this will impact your workload

and it will to some degree.

But the addition with the addition of a project manager,

I'm confident that we can do it.

We love this community.

We love a challenge and we're used to operating lean budgets as well.

Be the case here.

And although this is not in our area of expertise for

those of you who have interest in single family homebuilding.

This is great exposure.

And while we've never worked with homeowners who will have specific wish lists,

where we always outperform is in our ability to listen.

Had we not listened to the community leaders in City Heights,

who pointed us in the right direction, we would not have been awarded this project.

Lastly,

going back to how we will commemorate 25 years when these 10 homes are complete,

we will have a party and there will be a speech.

It will be a speech of thanks directed to each of you

for your continued commitment to city link and the communities we serve.

I look forward to meeting with each of you next week.

So please bring your great ideas and questions.

See you soon.

545 Week 7 Presentation .2

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