Highland 23 Multi-Family Development Opportunity in Central Phoenix

FOR SALE HIGHLAND 23 MULTI-FAMILY DEVELOPMENT OPPORTUNITY IN CENTRAL PHOENIX

± 3.01 AC vacant site for up to 150-175 units walkable to Light Rail that’s east of I-17 and two blocks south of Camelback Road in an Opportunity Zone.

www.highland23.com HIGHLAND 23

TABLE OF CONTENTS

03 EXECUTIVE SUMMARY

05 PROPERTY OVERVIEW

07 INVESTMENT DRIVERS

13 SALES COMPS

15 ZONING

25 DEMOGRAPHICS

33 MARKET REPORT

EXECUTIVE SUMMARY HIGHLAND 23

THE OFFERING

Property Name Highland 23

Southwest Corner of 23rd & Highland Avenues, Address Phoenix, AZ 85015

Parcel Size ± 3.01 Acres

Price Determined by the market.

R-3, City of Phoenix. Will consider selling subject Current Zoning to rezoning to R-5.

45 two-story, 3 bd/3ba, 2-car garage, Approved Site Plan townhomes

INVESTMENT HIGHLIGHTS

+ High demand inﬁ ll location with excellent transit options for modestly priced modern housing

+ Excellent access to major highways and employment corridors

+ Walking distance to Valley Metro Light Rail stop at 19th Ave. & Camelback Rd.

+ Located in an “Oportunity Zone” offering favorable tax treatment

+ Near Walmart, Harkins Theatres, Costco, JCPenney, Super Target, PetSmart, Ross, El Super, Popeyes, BoSa Donuts, Subway, Geno’s Pizza, Walgreens and banking

EXECUTIVE SUMMARY 4 NOT TO SCALE

PROPERTY OVERVIEW HIGHLAND 23

PROPERTY OVERVIEW

This offering consists of a desirable inﬁ ll location convenient to employment, shopping, schools, and entertainment that’s walkable to a light rail stop and close to freeways to access all parts of the Valley. The site is already zoned R-3, City of Phoenix for a townhome development and has an approved site plan for 45 units. However, the site could be upzoned to R-5 for 150-200 units and a height of 4 stories which could receive favorable tax treatment because it’s located in an “Opportunity Zone”.

The site is rectangularly shaped with frontage on Highland Avenue, 23rd Avenue and Coolidge Street in a mature neighborhood near Westwood Elementary School, an apartment community and single-family homes.

There is strong demand for new and modern “workforce” housing product especially in this area of the submarket evidenced by new apartment construction and renovation of older projects between the 7’s (7th Street and 7th Avenue) in the North/Central and Downtown submarkets.

The Highland 23 site offers a developer the opportunity to develop modestly priced modern housing near Midtown and Downtown with signiﬁ cant price advantage. Over the last year, the North/Central Phoenix submarket average rents increased by more than 8.7% while the vacancy decreased by 100 basis points. Rents along the Central corridor increased over 17% last year.

ANTHEM

LONE MOUNTAIN RD HAPPY VALLEY PKWY HAPPY VALLEY RD DYNAMITE BLVD RIO VERDE DR

SUN CITY WEST PINNACLE PEAK RD DEER VALLEY RD PATTON RD

SURPRISE SUN VALLEY PKWY THUNDERBIRD RD 17 CACTUS RD CACTUS RD OLIVE AVE NORTHERN AVE

HIGHLANDBETHANY 23 HOME RD

10 VAN BUREN ST YUMA RD AVONDALE BUCKEYE RD APACHE APACHE TRL JUNCTION

LOWER BUCKEYE RD BUCKEYE RD DOBBINS RD GUADALUPE RD ELLIOT RD

CHANDLER BLVD HIGLEY

10 QUEEN CREEK RD

SUN RIGGS RD LAKLAKES HUNT HWY N 8787 587587 NOT TO SCALE

PROPERTY OVERVIEW 6 NOT TO SCALE

INVESTMENT DRIVERS HIGHLAND 23

INVESTMENT DRIVERS

IMPROVING SUBMARKET FUNDAMENTALS West/Central Phoenix is trending with the recent extension of the METRO Light Rail three (3) miles further north on 19th Avenue and will be a more affordable alternative in the future than the more expensive supply constrained North/Central Phoenix Submarket. Central Phoenix rents averaged $1.15 per square foot in 4Q18 and have increased 8.7% in the past four quarters and averaged 92% occupancy, up 100 basis points over the same period.

RESIDENT PROFILE Within 3 miles of Highland 23, the population is over 185,028 with a median age of 32.3 and there are over 7,700 employers where 102,733 residents are employed and over one-third of them are college educated.

DEVELOPMENT OPPORTUNITY Condo development has exploded in North/Central and Midtown Phoenix where the average sales price is over $600,000 – way out of reach for the average resident proﬁ le that already works, but would like to live in this area. A recently constructed lower priced community is Edison Condominiums at Central Avenue and Thomas Road, a ﬁ ve-story, 80-unit complex with prices starting at $377,500.

Currently, with a higher propensity to rent than own, this site presents an excellent opportunity for high density affordable multifamily development of approximately 150 units with favorable tax treatment. Under the federal Opportunity Zone program, created by the Tax Cuts and Jobs Act of 2017, real estate developers who make long-term private capital investments in designated low-income urban communities receive tax breaks on capital gains.

Glendale Ave

RICHARDSON’S ALL SAINTS CUISINE OF EPISCOPAL NEW MEXICO

Abrazo Palo Verde Hospital Golf Course LUCI’S Central HEALTHY THE VIG Campus MARKET PLACE UPTOWN Bethany Home Rd

CHRISTOWN Z TEJAS STARBUCKS SPECTRUM MALL VALLEY LUTHERAN HIGH SCHOOL PHOENIX WALMART, COSTCO CITY GRILLE TARGET FEDERAL PIZZA THE YARD P HARKINS MADISON NO 1 PITA JUNGLE MIDDLE SCHOOL MOVIE THEATER JOYRIDE TACOS WINDSOR SPINATO’S Solano POSTINO PIZZA CHURN CHAR’S HAS Central Ave Park Solano 24 HOUR FITNESS 5 & DINER CVS Grand School THE BLUES Canyon SALON FRYS FOODS ESTIQUE SUN UP CHERRY OREGANOS JIMMY JOHNS University Arizona NEWTON BREWERY BLOSSOM PIZZA SANDWICHES Recreation AJS Center DUTCH BROS FINE CAFE CHIPOTLE FOODS Camelback Rd P LIGHT RAIL Camelback Rd P TWO HIPPIES MAIZIE’S CAFE BEACH HOUSE ROCHELLE’S Cielito SALON & SPA BOURGADE BILL LUKE HULA’S MODERN URBAN DUCK & DECANTER Park AUTO TIKI COOKIES CATHOLIC GRANADA HIGH EAST OSBORN TORCH SCHOOL MIDDLE SCHOOL LOLA’S COFFEE SCHOOL WESTWOOD THEATER XAVIER/BROPHY MADISON PARK MELROSE COLLEGE PREP MIDDLE SCHOOL DISTRICT CENTRAL HIGH SCHOOL GEORGE 12th Street COPPER STAR JOE’S TANGIBLE TANNING COFFEE DINER & DRAGON HIGHLAND23Highland & FITNESS Madison STACEY’S 27th Avenue TWO HIPPIES Park & Pool SMOKEHOUSE Towns23 Steele VA MAGIC LUKE’S OF LUX COFFEE SHOP Indian School Medical MUSHROOM CHICAGO Park Center BURGER Indian School Rd COSTCO LONGVIEW BUSINESS RHYTHM ROOM ELEMENTARY GrandCENTER Avenue PHOENIX CHRISTIAN GALLO BLANCO HIGH SCHOOL PHOENIX REGIO’S SAFEWAY CHARTER MEXICAN ENCANTO FOOD ELEMENTARY FEZ URBAN BEANS THE SPOT SALON GREAT CLIPS STARBUCKS HAIR MIDDLE EASTERN JAMBA JUICE CATALINA’S CHINA CHILI 7th Street BAKERY & DELI AZ Heart 16th Street 23rd Avenue PARK CENTRAL COCKTAILS 7th Avenue 15th Avenue 35th Avenue 19th Avenue MALL Hospital PHOENIX Metro Tech COLLEGE PHOENIX HILTON WALGREENS High School St. Joe’s Hospital Thomas Rd NORTH LENNY’S BURGERS Phoenix HIGH SCHOOL BARRIO CAFE ST. MARY’S Children's PINK SPOT COFFEE HIGH SCHOOL CORONADO Hospital Encanto & ICE CREAM CAFE Park SUNSHINE MARKET WHITE SAGE Enchanted HUMBLE PIE ESPRESSO AZ Heart Island HEARD PIZZA Institute Amusement WILLO MUSEUM Monterey RICE PAPER TUCK SHOP NEIGHBORHOOD Park Park DURANT’S EMERSON ASTOR HOUSE N ELEMENTARY PHOENIX THEATER ROYALE ARIZONA LOUNGE LA CONDESA GOURMET TACOS STATE FAIR HOB NOBS PHOENIX ART NOT TO SCALE MUSEUM SAFEWAY McDowell Rd

INVESTMENT DRIVERS 8 SITE

N NOT TO SCALE

DESIRABLE WEST/CENTRAL PHOENIX LOCATION The area surrounding Highland 23 is in trending with the recently extended Metro Light Rail on Camelback Road extend- ing north up 19th Avenue and west to Midtown and Downtown Phoenix. With unparalleled access to both the freeway and transit networks, the site places residents within proximity to the dynamic Camelback, Midtown and Downtown Corridors offering access to the highest concentrations of employment and entertainment hubs in the Valley.

EXCELLENT EXPOSURE TO REGIONAL EMPLOYMENT With a median age of 32, Phoenix is home to a large executive and professional workforce that compliments the business environment of the city. Due to its proximity to Camelback Road, Metro Light Rail and the freeways, 23Highland Towns will provide residents with excellent access to Midtown and Downtown Phoenix and the Phoenix Sky Harbor Inter- national Airport.

The Camelback Corridor and Downtown Phoenix offer a combined employment base of over one million employees within less than a 30 minute commute. Education, healthcare, aerospace, government and defense employers are all nearby. Some of these major employers include Abrazo Central Campus, Blue Cross Blue Shield, Banner Good Samar- itan, Phoenix Children’s Hospital, Honeywell Aerospace, Phoenix Newspapers, Inc., Phoenix College, Grand Canyon University, Downtown Arizona State University & Phoenix Medical Campus.

CONVENIENT ACCESS TO TRANSPORTATION Four of Arizona’s major freeways – the State Route 51, Black Canyon Interstate 17, Interstate 10 and the State Route 60 Grand Avenue – are within three (3) miles of the subject property, providing excellent access to locations across the Phoenix Metropolitan area. Highland 23 outstanding location offers residents immediate access to the Phoenix Metro bus system and is walking distance to a stop at 19th Avenue & Camelback Road to the recently extended-route METRO Light Rail. It currently provides access to northwest Phoenix, downtown Phoenix, Arizona State University (downtown and in Tempe with an enrollment of over 75,000 students), to Phoenix International Airport (the 6th busiest airport servicing over 40.3 million passengers annually), to the Mill Avenue District and to Mesa.

9 HIGHLAND 23

+ PROXIMITY TO TOP SCHOOLS − Neighborhood: Westwood Primary, Simpson Middle and Alhambra High School − Xavier and Brophy College Preparatory (Central Corridor) − Phoenix Community College (Encanto Village) − Grand Canyon University (35th Ave & Camelback Rd) − Downtown Arizona State University & Phoenix Biomedical Campus (TGen & University ofa Arizona College of Medicine)

+ ENTERTAINMENT − Sports & Entertainment Venues − US Airways Center – Suns Basketball − Chase Field – Diamondbacks Baseball − Phoenix Convention Center − Herberger Theatre − Comerica Theatre

+ PARKS & RECREATION CENTERS − Steele Indian School Park − Encanto Park − Encanto Island Amusement Park − Cultural Attractions − Heard Museum − Arizona Science Center − Phoenix Art Museum

+ RETAIL & DINING + RETAIL CENTERS − Local Dining Favorites − Christown Spectrum Mall − Culinary Dropout | The Yard − Camelback Colonnade − Federal Pizza − Biltmore Fashion Park − Windsor − Town & Country Mall − Postino’s − Uptown Plaza − Little Cleo’s − Shops on Roosevelt − Joyride Taco − Cityscape − Southern Rail − Beckett’s Table

INVESTMENT DRIVERS 10 CONVENIENT ACCESS TO TRANSPORTATION Four of Arizona’s major freeways – the State Route 51, Black Canyon Interstate 17, Interstate 10 and the State Route 60 Grand Avenue – are within three (3) miles of the subject property, providing excellent access to locations across the Phoenix Metropolitan area. 23Highland Towns outstanding location offers residents immediate access to the Phoenix Metro bus system and is walking distance to a stop at 19th Avenue & Camelback Road to the recently extended-route METRO Light Rail. It currently provides access to northwest Phoenix, downtown Phoenix, Arizona State University (downtown and in Tempe with an enrollment of over 75,000 students), to Phoenix International Airport (the 6th busiest airport servicing over 40.3 million passengers annually), to the Mill Avenue District and to Mesa.

CHRISTOWN SPECTRUM MALL Christown Spectrum Mall is the oldest operating mall and was the third shopping mall built in Phoenix, Arizona, located at the southeast corner of Bethany Home Road and 19th Avenue. Today it still exists as an enclosed shopping mall, although the enclosed portion of the mall was greatly reduced when redevelopment changed the conﬁ guration closer to a power centre.

+ Major tenants: Super Target, Costco, Wal-Mart Supercenter, Harkins Theatres, JCPenney and PetSmart

+ ±1,200,000 gross leasable square feet.

11 HIGHLAND 23

GRAND CANYON UNIVERSITY Grand Canyon University (GCU), is Arizona’s premier private Christian university. GCU’s ±179-acre campus is an oasis in the heart of West Phoenix. With new infrastructure being built and expansion occurring every year, with over 11,000 students currently plans to grow its campus to 25,000 within the next ﬁ ve years.

Amenities include a renovated Student Union, popular dining options across campus, resort-style swimming pools, modern ﬁ tness centers and the 7,000-seat GCU Arena, home to our men’s and women’s basketball teams as well as the site of popular concerts and speaker series.

The newest facilities on campus added in the fall 2015 include an ±84,105-square-foot classroom building, designed to accommodate the growing student population studying in STEM ﬁ elds, and The Grove, a group of four new suite-style residence halls for freshmen, located in the northwest corner of campus.

ABRAZO CENTRAL CAMPUS

Abrazo Central Campus, a 221-bed acute care facility and teaching hospital, at the northwest corner of Bethany Home Road and 19th Avenue, has been serving central Phoenix communities since 1963. The hospital is recognized for cardiovascular care, neuroscience services, orthopedics, women’s heal, radiology and 24-hour emergency care.

+ 910 employees

+ 833 afﬁ liated physicians

INVESTMENT DRIVERS 12 LAND SALES COMPS N NOT TO SCALE

No. of Price per Price per Sales Date of # Name Address Acres Density Units Land SF unit Price Sale

1 Alta Central 4001 N. Central Ave. 223 3.31 67.4 $34.68 $22,422 $5,000,000 Mar-17

2 Curve at Melrose 4333 N. Sixth Dr. 204 4.30 47.4 $25.89 $23,775 $4,850,000 Jul-15

3 Crescent Highland 4626 N. 16th St. 350 5.06 69.2 $37.77 $23,786 $8,325,000 Oct-15

4 Alta Midtown 200 E. Thomas Rd. 225 6.19 36.3 $21.14 $25,333 $5,700,000 Nov-15

5 Alta Marlette SE 7th St. & Maryland Ave. 229 3.93 58.3 $35.02 $26,179 $5,995,000 Jun-18

6 Parc Midtown 3993 N. 3rd Ave. 306 7.20 42.5 $26.15 $26,797 $8,200,000 Mar-16

7 Alta Camelback 4949 N. 7th St. 237 3.09 76.7 $47.88 $27,194 $6,445,000 Jun-16

8 Cabana on 12th NEC 12th St. & Devonshire Ave. 252 7.00 36.0 $22.96 $27,778 $7,000,000 Nov-18

9 Audere 1920 E. Indian School Rd. 220 7.010 31.4 $20.30 $28,182 $6,200,000 Apr-15

10 Broadstone Midtown 240 W. Osborn Rd. 200 2.40 83.3 $57.39 $30,000 $6,000,000 Jan-17

11 Green Leaf Arts District E NEC McDowell & Alvarado Rds. 280 3.90 71.8 $50.03 $30,357 $8,500,000 May-15

12 Broadstone Roosevelt Row 330 E. Roosevelt St. 316 3.55 89.0 $72.43 $35,443 $11,200,000 Nov-15 ZONING HIGHLAND 23

661818 R-5 Multifamily Residence District.ct. *22*22

A.ĉĉĉĉPurpose. The purpose of the multifamily residence districts is to provide for alternate living styles including rental, Compile Chapter condominiums and single ownership of land with multiple units thereon or single or attached townhomes.

The density ranges owered are intended to allow for a greater interaction of residents with at least the opportunity for less individual maintenance, unit cost, and size as compared with a conventional single-family residence.

The design options of average lot subdivision, planned residential, and single-family attached development are intended to provide flexibility as to unit placement, variable yard requirements, more reasonable and practical use of open spaces, staggered height limits up to three and four stories and more standardized parking and street improvement requirements. Bonus provisions are intended to facilitate and enhance the utilization of smaller infill parcels as well as unusual and irregular parcels throughout the City. *22

Along with the freedom that the multifamily district owers are certain responsibilities which must be met for project residents, but more importantly for the overall adjacent neighborhood. These are expressed in terms of standards and performance criteria. The standards internal to a project are intended to increase livability with amenities including landscaping, recreational facilities and project design. On the other hand the exterior standards provide a better fit, [and] better the project and the neighborhood environs. Criteria relating to setbacks, screening and landscaping are intended to reduce noise, maintain privacy and minimize psychological feelings to a change in development character and avoid any adverse ewect on property values.

B.ĉĉĉĉDistrict Regulations. *20

1.ĉĉĉĉDevelopment Standards for Residential Uses. The following tables establish standards to be used in the R-5 District. The definitions of terms used in these standards are found in Section 608.I. The single-family attached development option must meet Section 608.F.8 requirements. *8 +20 *22

TTABLEAB A. SINGLE-FAMILY, DETACHED DEVELOPMENT (SUBDIVIDED ON OR AFTER MAY 1, 1998) ĉ +8 *15 **2020

ĉ R-5 Development Option SStandardstan CConventionalonven PPlannedl Residential Developmentt Minimum lot width (in the 55' minimum 45' minimum (unless approved by either event of horizontal property the design advisor or the Single-Family regimes, "lot" shall refer to the Architectural Appeals Board for width of the structure and demonstrating enhanced architecture exclusive use area) *14 that minimizes the impact of the garage (see Section 507 Tab A.II.C.8(8.3))) *14

ZONING 16 ĉ R-5 Development Option Standards Conventional Planned Residential Developmentnt Minimum lot depth None, except 110' adjacent to None, except 110' adjacent to freeway or freeway or arterial arterial Dwelling unit density 5.0 6.5; 12 with bonus (units/gross acre) Minimum perimeter building Front: 15'; Street (front, rear or side): 15' (in setbacks Rear: 15' (1-story), 20' (2- addition to landscape setback); story); Property line (rear): 15' (1-story), 20' (2- Side: 10' (1-story), 15' (2- story); story) Property line (side): 10' (1-story), 15' (2- story) Common landscaped setback None 15' average, 10' minimum (does not adjacent to perimeter streets apply to lots fronting onto perimeter (2) *20 streets) Minimum interior building Front: 10'; rear: 10'; Front: 10'; rear: none (established by setbacks combined front and rear: 35', Building Code); street side: 10'; sides: street side: 10'; sides: 13' none (established by Building Code) total (3' minimum, unless 0') Minimum building separation 10' None Minimum garage setback 18' from back of sidewalk for 18' from back of sidewalk for front- front-loaded garages, 10' loaded garages, 10' from property line from property line for side- for side-loaded garages loaded garages Maximum garage width For lots <60': 2 car widths, for For lots <60': 2 car widths, for lots ≥60' to lots ≥60' to 70': 3 car widths, 70': 3 car widths, for lots >70': no for lots >70': no maximum maximum *14 *14 Maximum height 2 stories and 30' 2 stories and 30' (except that 3 stories not exceeding 30' are permitted when approved by the design advisor for demonstrating enhanced architecture) *14

17 HIGHLAND 23

ĉ RR-5-5 DeDevelopmentvelopment OOptionption Standards Conventional Planned Residential Developmentnt Lot coverage Primary structure, not Primary structure, not including including attached shade attached shade structures: 40% structures: 40% Total: 50% Total: 50% Common areas None Minimum 5% of gross area Required review Development review per Development review per Section 507, Section 507, and subdivision and subdivision to create 4 or more lots to create 4 or more lots

Street standards Public street, or private street Public street or private accessway(1) built to City standards with a homeowners’ association established for maintenance On-lot and common retention Common retention required Common retention required for lots less for lots less than 8,000 sq. x. than 8,000 sq. x. per grading and per grading and drainage drainage ordinance requirements ordinance requirements Landscape standards ĉ Perimeter common: trees spaced a maximum of 20 to 30 feet on center (based on species) or in equivalent groupings, and 5 shrubs per tree.

(1) Public streets may be required as a part of subdivision or development review for extensions of street patterns, for circulation within neighborhoods, or to continue partial dedications.

(2) For the purposes of this section, canal rights-of-way shall be treated the same as public street rights-of-way. +18 *20

TTABLEABLE BB.. SINGLE-FAMILYSINGLE-FAMILY ((SUBDIVIDED PRIOR TO MAY 1, 1998), SINGLE-FAMILYLE-FAMILY AATTACHEDTTACHED AANDND MMULTIFAMILYULTIFAMILY DEDEVELOPMENTVE ĉ *8 *14 *15 *222

ĉ R-5 Development Optionn -5-5

ZONING 18 ĉ RR-5-5 DevelopmentDevelopmen Optionn -5-5 ((d)d) (a)) (b) Planned Residential Single-Familyily SSubdivisionion **2020 AAveragever Lot Standards Development Attache (4) ++2222

(c) (d) (a)) (b) PPlannedlan Residential SSingle-Familying ily SSubdivisionion **2020 AAveragever g Lot Standards DeDevelopmentment AAttachettac (4) ++2222 Minimum lot 60' width, 94' 40' width, 50' None Individual unit lot: dimensions (width depth *6 depth *6 20' width, no and depth) *6 minimum depth +22 Dwelling unit 43.5 43.5 45.68; 52.20 with 45.68; 52.20 with density bonus bonus +22 (units/gross acre) Perimeter None 20' front, 15' rear, 20' adjacent to a 10' for units fronting standards 10' side public street; this street rights-of-way; area is to be in 15' for units siding common ownership street rights-of-way. unless lots front on This area is to be in the perimeter public common ownership street; 10' adjacent or management. 10' to property line *5 adjacent to property line +22 Building setbacks 20' front, 15' rear, 10' front, 30' front 10' front Individual unit lot: 10' and 3' side plus rear none +22

Maximum height 4 stories or 48' (1) 4 stories or 48' (1) 4 stories or 48' (1) (2) 4 stories or 48'(1) (2) *20 (2) *20 *20 +22 Lot coverage 50% 50% 50% 100% +22 Common areas None None Minimum 5% of Minimum 5% of gross area(3) gross area +22 Required review Subdivision to Subdivision with Development review Development review create 4 or more building setbacks per Section 507 *8 per Section 507 +22 lots

19 HIGHLAND 23

ĉ R-5 Development Option -55

((c)c) (d)) ((a)a) ((b)b) PPlannedlann d RResidentialid ti l Single-FamilyFamily Subdivision *20 AAverageve Lot Standardsds DeDevelopment Attache (4) +22 Street standards Public street Public street Public street or Development site: required private accessway Public street or private accessway. Individual unit lot: Private accessway, alley right-of-way or driveway. +22

(1) There shall be a 15-foot maximum height within ten feet of a single-family zoned district, which height may be increased one foot for each additional one foot of building setback to the maximum permitted height. *20

(2) The height limitation of four stories or 48 feet applies to residential uses. *20

(3) For purposes of this section, canal rights-of-way shall be treated the same as public street rights-of-way. *20

(4) The single-family attached development option must meet Section 608.F.8 requirements. +22

2.ĉĉĉĉDevelopment standards for commercial and mixed uses (including hotels and motels) shall be in accordance with Section 622.E.3 and E.4. +20

C.ĉĉĉĉSpecial Regulations.ons.

1.ĉĉĉĉA site plan in accordance with Section 507 is required for all development in the R-2, R-3, R‑3A, R-4, R-4A and R-5 districts except when the development consists of single-family dwellings on individual lots. *4 *17 *20

D.ĉĉĉĉPermitted Uses. +20

1.ĉĉĉĉAdult day care center, subject to a use permit; and provided, that: +23

a.ĉĉĉĉOutdoor recreation areas shall be screened from adjacent properties by a six-foot-high landscape hedge, solid fence, or solid wall. +23

ZONING 20 2.ĉĉĉĉBed and breakfast establishment. +20 *23 *24

3.ĉĉĉĉBiomedical and Medical Research Owices. A biomedical or medical research laboratory shall be permitted as an accessory use to a biomedical and medical research owice, subject to the following limitations: +20 *23 *24

a.ĉĉĉĉThe use shall be subject to obtaining a use permit in accordance with the procedures and standards of Section 307. +20

b.ĉĉĉĉEntrance to the laboratory shall only be from within the building and shall not be through doors which open to the outside of the building. +20

c.ĉĉĉĉNo sign or display for the laboratory shall be visible from adjacent public rights-of-way. +20

d.ĉĉĉĉAccess to a property containing a laboratory shall only be from a major arterial or arterial, as designated on the street classification map. +20

4.ĉĉĉĉBirthing center. +20 *23 *24

5.ĉĉĉĉBoarding house, subject to a use permit and the following conditions: +24

a.ĉĉĉĉSuch home shall be registered with, and administratively verified by, the Planning and Development Department Director’s designee, as to compliance with the standards of this section as provided in Section 701. +24

b.ĉĉĉĉNo boarding house shall be located on a lot with a property line within 1,320 feet, measured in a straight line in any direction, of the lot line of another boarding house, group home, or community residence home or center within a residential zoning district. +24

c.ĉĉĉĉA maximum lot coverage of 25 percent. +24

d.ĉĉĉĉA minimum of 50 square feet of usable outdoor open space per bed shall be provided. +24

6.ĉĉĉĉBranch owices of the following uses are permitted subject to a use permit: banks, building and loan associations, brokerage houses, savings and loan associations, finance companies, title insurance companies, and trust companies. +20 *23

7.ĉĉĉĉCommunity residence center, subject to a use permit and the following conditions: +24

a.ĉĉĉĉSuch center shall be registered with, and administratively verified by, the Planning and Development Department Director’s designee, as to compliance with the standards of this section as provided in Section 701. +24

b.ĉĉĉĉNo community residence center shall be located on a lot with a property line within 1,320 feet, measured in a straight line in any direction, of the lot line of another community residence home or center within a residential zoning district. +24

c.ĉĉĉĉDisability accommodation from the spacing requirement may be requested by an applicant per Section 701.E.3. +24

21 HIGHLAND 23

d.ĉĉĉĉA maximum lot coverage of 25 percent. +24

e.ĉĉĉĉA minimum of 50 square feet of usable outdoor open space per bed shall be provided. +24

8.ĉĉĉĉCopy and reproduction center, subject to a use permit. +20 *23 *24

9.ĉĉĉĉDependent care facility for 13 or more dependents and schools for the mentally or physically handicapped subject to securing a use permit pursuant to Section 307. +21 *23 *24

10.ĉĉĉĉGroup foster home. +20 *21 *23 *24

11.ĉĉĉĉGroup home, subject to a use permit and the following conditions: +20 *21 *23 *24

b.ĉĉĉĉNo group home shall be located on a lot with a property line within 1,320 feet, measured in a straight line in any direction, of the lot line of another group home, boarding house, or community residence home or center within a residential zoning district. +24

c.ĉĉĉĉA maximum lot coverage of 25 percent. +24

d.ĉĉĉĉA minimum of 50 square feet of usable outdoor open space per bed shall be provided. +24

12.ĉĉĉĉDormitories and convents shall be permitted as accessory uses to churches or similar places of worship. +20 *21 *23 *24

13.ĉĉĉĉHospice, subject to a use permit. +23 *24

14.ĉĉĉĉHotel or Motel. The following accessory uses are permitted; provided, that the entrance to said accessory uses shall be from within the building only and that no sign or display for the accessory uses shall be located so as to be visible from a public thoroughfare or adjacent property: +20 *21 *23 *24

a.ĉĉĉĉAuto rental agency; provided, that there are no more than three vehicles stored on the hotel property. +20

b.ĉĉĉĉChild care, for hotel/motel guests only. +20

c.ĉĉĉĉCocktail lounges with recorded music or one musician. +20

d.ĉĉĉĉConvention or private group activities. +20

e.ĉĉĉĉGix shop. +20

f.ĉĉĉĉNews stand. +20

ZONING 22 g.ĉĉĉĉRestaurants with recorded music or one musician. +20

h.ĉĉĉĉOther services customarily accessory thereto. +20

15.ĉĉĉĉOwice for Administrative, Clerical, or Sales Services. No commodity or tangible personal property, either by way of inventory or sample, shall be stored, kept, or exhibited for purposes of sale in any said owice or on the premises wherein the said owice is located. Seminars shall be permitted as an accessory use; provided, that they are clearly accessory to the owice use. +20 *21 *23 *24

16.ĉĉĉĉOwice for professional use, including medical center, wellness center, and counseling services (provided that services are administered or overseen by a State licensed professional). +20 *21 *23 *24

a.ĉĉĉĉThe following accessory uses are permitted; provided, that the entrance to said accessory uses shall be from within the building only, that no sign or display for the accessory uses shall be located so as to be visible from a public thoroughfare or adjacent property, and that no more than 25 percent of the floor area can be used for the accessory uses: +20

(1)ĉĉĉĉFitness center. +20

(2)ĉĉĉĉMassage therapy, administered by a State licensed massage therapist. +20

(3)ĉĉĉĉOphthalmic materials dispensing. +20

(4)ĉĉĉĉPharmacy. +20

(5)ĉĉĉĉSleep disorder testing with less than a 24-hour stay duration. +20

(6)ĉĉĉĉSnack bar. +20

(7)ĉĉĉĉSurgical center, provided there are no overnight stays. +20

b.ĉĉĉĉThe following accessory uses are permitted, subject to a use permit and provided that the entrance to said accessory uses shall be from within the building only, that no sign or display for the accessory uses shall be located so as to be visible from a public thoroughfare or adjacent property: +20

(1)ĉĉĉĉMedical and dental laboratories. +20

(2)ĉĉĉĉOrthotics and prosthetic laboratories. +20

17.ĉĉĉĉNursing home, subject to a use permit and the following conditions: +20 *21 *23 *24

a.ĉĉĉĉA maximum lot coverage of 25 percent. +20

b.ĉĉĉĉA minimum of 50 square feet of usable outdoor open space per bed shall be provided. +20 *23

23 HIGHLAND 23

18.ĉĉĉĉPrivate clubs and lodges qualifying by law as a nonprofit entity, subject to a use permit. The use permit is not required if a special permit, according to Section 647, is obtained. Bingo may be operated as an accessory use on the premises of the club no more than two days per week. +20 *21 *23 *24

19.ĉĉĉĉResidential convenience market is permitted as an accessory use to a multiple-family development, subject to the following conditions: +20 *21 *23

a.ĉĉĉĉSignage shall be allowed only as part of a comprehensive sign plan pursuant to Section 705. The Zoning Administrator may approve wall-mounted signage up to a maximum height of 30 feet as part of an approved comprehensive sign plan. +20

b.ĉĉĉĉThe development shall contain a minimum of 400 dwelling units. +20

c.ĉĉĉĉThe market shall not exceed 1,000 square feet in total floor area (display and storage) if the development contains less than 850 dwelling units. The market shall not exceed 3,000 square feet in total floor area (display and storage) if the development contains 850 or more dwelling units. +20

d.ĉĉĉĉNo parking spaces shall be required or permitted for the market except for spaces designated for deliveries or handicapped individuals. +20

20.ĉĉĉĉTeaching of the fine arts, subject to use permit. +20 *21 *23

21.ĉĉĉĉVolunteer community blood centers qualifying by law as a nonprofit entity, subject to a use permit. +20 *21 *23

Date of Addition/Revision/Deletion - Section 618 +1 Addition on 10-30-1991 by Ordinance No. G-3465 *14 Revision on 6-2-1999 by Ordinance No. G-4188 *15 Revision on 1-3-2007 by Ordinance No. G-4857, ew. 2-2-2007 +2 Addition on 12-11-1991 by Ordinance No. G-3480 *16 Revision on 3-4-2009 by Ordinance No. G-5329, ew. 4-3-2009 -3 Deletion on 12-18-1991 by Ordinance No. G-3483 *17 Revision on 6-3-2009 by Ordinance No. G-5380, ew. 7-3-2009 +4 Addition on 2-19-1992 by Ordinance No. G-3498 *18 Revision on 11-3-2010 by Ordinance No. G-5561, ew. 12-3-2010 *4 Revision on 2-19-1992 by Ordinance No. G-3498 +18 Addition on 11-3-2010 by Ordinance No. G-5561, ew. 12-3-2010 -5 Deletion on 5-20-1992 by Ordinance No. G-3529 -18 Deletion on 11-3-2010 by Ordinance No. G-5561, ew. 12-3-2010 *5 Revision on 5-20-1992 by Ordinance No. G-3529 *19 Revision on 1-19-2011 by Ordinance No. G-5582 ew. 2-18-2011 *6 Revision on 7-1-1992 by Ordinance No. G-3553 +20 Addition on 7-6-2011 by Ordinance No. G-5643, ew. 8-5-2011 *20 Revision on 7-6-2011 by Ordinance No. G-5643, ew. 8-5-2011 +7 Addition on 8-26-1992 by Ordinance No. G-3562 +21 Addition on 11-7-2012 by Ordinance No. G-5743, ew. 12-7-2012 +8 Addition on 3-31-1993 by Ordinance No. G-3629 *21 Revision on 11-7-2012 by Ordinance No. G-5743, ew. 12-7-2012 +9 Addition on 3-31-1993 by Ordinance No. G-3630 +22 Addition on 12-18-2013 by Ordinance No. G-5874, ew. 1-17-2014 *10 Revision on 7-2-1997 by Ordinance No. G-4039 *22 Revision on 12-18-2013 by Ordinance No. G-5874, ew. 1-17-2014 +11 Addition on 7-2-1997 by Ordinance No. G-4041 +23 Addition on 6-21-2017 by Ordinance No. G-6331, ew. 7-21-2017 +12 Addition on 5-1-1998 by Ordinance No. G-4078 *23 Revision on 6-21-2017 by Ordinance No. G-6331, ew. 7-21-2017 *12 Revision on 5-1-1998 by Ordinance No. G-4078 +24 Addition on 4-18-2018 by Ordinance No. G-6451, ew. 5-18-2018 *24 Revision on 4-18-2018 by Ordinance No. G-6451, ew. 5-18-2018 +13 Addition on 7-1-1998 by Ordinance No. G-4111

Phoenix Zoningg Ordinance is current throughg Ordinance G-6518,, passedp November 7,, 2018.8. City Website: http://phoenix.gov/ (http://phoenix.gov/) aimer: The City Clerk's Owice has the owicial version of the Zoning Ordinance. Users should City Telephone: (602) 262-6811 act the City Clerk's Owice for ordinances passed subsequent to the ordinance cited above. Code Publishing Company (https://www.codepublishing.com/) eLibrary (https://www.codebook.com/listing/)

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Downtown Phoenix MARKET REPORT

MARKET REPORT 34 Executive

DOWNTOWN SUMMARY PHOENIX

%PXOUPXO1IPFOJYIBTVOEFSHPOFESBNBUJD DIBOHFTPWFSUIFMBTUEFDBEFUIBUIBTSFFOFSHJ[FE UIFNFUSPTVSCBODPSF5PEBZ EPXOUPXOJT BWJCSBOU EJWFSTFOFJHICPSIPPEUIBUPɭFSTB genuine live-work-play lifestyle. One of the most TJHOJmDBOUDBUBMZTUTPGJUTUSBOTGPSNBUJPOXBT UIFBSSJWBMPG"SJ[POB4UBUF6OJWFSTJUZT "46 %PXOUPXO$BNQVT5PEBZ NPSFUIBO TUVEFOUTQPQVMBUFUIFTUSFFUTPGEPXOUPXO 1IPFOJY QSPWJEJOHJOUFSOTGPSOFBSCZCVTJOFTTFT BOEHPWFSONFOUPSHBOJ[BUJPOT TVQQMZJOHUIF GVUVSFMBCPSQJQFMJOF BOEESJWJOHEFNBOEGPS SFUBJMBOEFOUFSUBJONFOUUIBUMJOFEPXOUPXO TUSFFUT*OBEEJUJPOUPUIFEPXOUPXODBNQVT TFWFSBMPUIFSMBSHFJOWFTUNFOUTBSFSFWJUBMJ[JOH UIFBSFB JODMVEJOHUIF1IPFOJY#JPNFEJDBM $BNQVT IPNFUPUIF6OJWFSTJUZPG"SJ[POB NFEJDBMTDIPPM UIF1IPFOJY$POWFOUJPO$FOUFS BOETFWFSBMOFXMVYVSZNVMUJGBNJMZNJYFEVTF EFWFMPQNFOUT

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4 EXECUTIVE SUMMARY PROPERTY NAME HERE

Geography

The city of Phoenix spans 517 square miles Downtown Phoenix is accessible by three major NJ2 BOECZMBOEBSFBJTMBSHFSUIBO-PT"OHFMFT freeways making it easily accessible for travel. NJ2 /FX:PSL$JUZ NJ2 BOE%BMMBT 'PSPVUPGTUBUFWJTJUPST EPXOUPXOJTKVTUUISFF NJ2 1IPFOJYJTCPSEFSFECZ4DPUUTEBMF miles from Phoenix Sky Harbor airport. BOE5FNQFUPUIFFBTU(MFOEBMFBOE1FPSJBUP UIFXFTU.BSJDPQBUPUIFTPVUIBOE/FX3JWFS to the north. N

%PXOUPXO1IPFOJYJTBOVSCBODFOUFSMPDBUFE JOUIFDFOUSBMQBSUPG1IPFOJYBOEFODPNQBTTFT TRVBSFNJMFT5IFTVCNBSLFUTCPSEFSTSVO GSPN-JODPMO4USFFUUPUIFTPVUI .D%PXFMM 3PBEUPUIFOPSUI 4FWFOUI"WFOVFUPUIFXFTU BOE4FWFOUI4USFFUUPUIFFBTU

GEOGRAPHY 5 Demographics DOWNTOWN PHOENIX EDUCATIONAL ATTAINMENT Downtown Phoenix is a small but growing (AGE 25 AND OVER) section of Phoenix. The city of Phoenix has a GRADUATE BACHELOR’S QPQVMBUJPOPG SFTJEFOUT JODMVEJOHUIF DEGREE DEGREE QFPQMFXIPMJWFJOUIFEPXOUPXO1IPFOJY 10.6% 18.3% submarket. Since 2010, population growth in EPXOUPXO1IPFOJYIBTJODSFBTFEBUBOBWFSBHF ASSOCIATES SOME COLLEGE annual rate of 2.2%, outpacing the city’s annual DEGREE NO DEGREE growth of 1.4%. Downtown Phoenix has a 5.2% 21.3% SFMBUJWFMZZPVOHQPQVMBUJPOXJUIBNFEJBOBHFPG ZFBSTDPNQBSFEUPUIFDJUZ ZFBST BOE Source: Esri, 2017 NFUSP ZFBST *OGBDU NJMMFOOJBMT BHFT ZFBSTPME BDDPVOUGPSPGUIFQPQVMBUJPO HIGH SCHOOL JOEPXOUPXO1IPFOJY5IJTJTMBSHFMZEVFUPUIF GRADUATE TFWFSBMDPMMFHFTBOEVOJWFSTJUJFTJOEPXOUPXO 23.2% 1IPFOJY"EEJUJPOBMMZ EPXOUPXO1IPFOJYIBTB TMJHIUMZNPSFFEVDBUFEQPQVMBUJPOUIBOUIFDJUZ XJUIPGJUTSFTJEFOUTFBSOJOHBCBDIFMPST EFHSFFPSIJHIFS1 DOWNTOWN PHOENIX POPULATION

16K

14K

12K

10K

8K 2000 2010 2017* 2022* DOWNTOWN PHOENIX *Forecast AGE BREAKDOWN Source: Esri, 2017 Source: Esri, 2017

65 +

35-64

18-34

5-17 < 5

0 5% 10%15% 20% 25% 30% 35% 40% 45% 50%

6 DEMOGRAPHICS PROPERTY NAME HERE

Economy

5IFEPXOUPXO1IPFOJYTVCNBSLFUJTIPNFUP %FTQJUFSJTJOHEFNBOEGPSRVBMJUZOFXPɮDF CVTJOFTTFT XJUImWFPSNPSFFNQMPZFFT TQBDF EFWFMPQNFOUJOEPXOUPXO1IPFOJYIBT UIBUFNQMPZ QFPQMF5IFMBSHFTUJOEVTUSZ SFNBJOFENVUFEXJUIOPEFMJWFSJFTTJODF TFDUPSTJODMVEFDPOTVNFSBOECVTJOFTTTFSWJDFT This will change with the completion of Block HPWFSONFOUTFSWJDFTBOEmOBODF JOTVSBODF BNJYFEVTFEEFWFMPQNFOUUIBUXJMMCSJOH real estate.2 TRùPGPɮDFTQBDFUPEPXOUPXOVQPO DPNQMFUJPOJOUIFmSTUIBMGPG )JTUPSJDBMMZ EPXOUPXO1IPFOJYIBTCFFOLOPXO BTBIVCGPSHPWFSONFOU mOBODJBMBOEBEWBODFE DOWNTOWN PHOENIX CVTJOFTTTFSWJDFT8IJMFUIFTFJOEVTUSJFTTUJMMIBWF EMPLOYMENT KEY INDUSTRY SUMMARY BTJHOJmDBOUQSFTFODFUPEBZ UIFSFTVSHFODFPG EPXOUPXOIBTTQVSSFEBSPCVTUTUBSUVQFDPTZTUFN that is attracting new technology companies to FINANCE BUSINESSES UIFBSFB.PTUOPUBCMZ PVUPGTUBUF QBSUJDVMBSMZ 59 GSPN$BMJGPSOJB DPNQBOJFTBSFMPPLJOHUP UIFEPXOUPXO1IPFOJYTVCNBSLFUGPSIJHI RVBMJUZMPDBUJPOTBUSFEVDFEDPTUT8JUIJOUIF HEALTHCARE BUSINESSES QBTUGFXZFBST OVNFSPVT$BMJGPSOJBCBTFEUFDI 37 DPNQBOJFTJODMVEJOH%PVCMF%VUDI (BJOTJHIUBOE 6QHSBEF*ODIBWFMPDBUFEJOEPXOUPXO1IPFOJY .FBOXIJMF UIFBCJMJUZUPESBXGSPNBMBSHFUBMFOU INFORMATION BUSINESSES TECHNOLOGY QPPMBOECFMPOHUPBWJCSBOUEPXOUPXOBSFUIF 15 SFBTPOTXIZ2VJDLFO-PBOTEFDJEFEUPSFMPDBUFJUT Source: Maricopa Association of Governments, 2016 FNQMPZFFTUPEPXOUPXO1IPFOJY3

DOWNTOWN PHOENIX LARGEST EMPLOYERS

WELLS FARGO

ECONOMY 7 Major Milestones in DOWNTOWN PHOENIX

5IF6OJWFSTJUZPG Margaret T. Hance Park Collier Center "SJ[POB1IPFOJY$BNQVT DPNQMFUFE DPNQMFUFE XBTFTUBCMJTIFE

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1973 1989 1990 1992 1998 2001 2002 2005 2006 2007

"SJ[POB$FOUFS Talking Stick Resort 5(FOSFMPDBUFE DPNQMFUFE "SFOBDPNQMFUFE to Phoenix

5FSNJOBMPQFOFE 0OF/PSUI$FOUSBM "SJ[POB4UBUF at Sky Harbor $PNQMFUFE 6OJWFSTJUZ%PXOUPXO International Airport FTUBCMJTIFE 4UVEFOUT

8 DOWNTOWN PHOENIX TIMELINE $JUZ4DBQF3FTJEFODFT PROPERTY NAME HERE MVYVSZBQBSUNFOUT DPNQMFUFE

Civic Space Park DPNQMFUFE &YQFDUFE completion of Block JODMVEJOH'SZT HSPDFSZTUPSF

CCEE

"SJ[POB$FOUFS begins $25-million 44 Monroe renovation 6OJUT CityScape "SJ[POB$BODFS JODMVEJOHIPUFMBOE XBTDPNQMFUFE DPNQMFUFE $FOUFSDPNQMFUFE multifamily units

2008 2009 2010 2014 2015 2016 2017 2018 2019

.FUSP-JHIUSBJM PQFOFE

"46PQFOFEUIF 2VJDLFO-PBOTNPWFT 4BOESB%BZ0$POOPS UP0OF/PSUI$FOUSBM $PMMFHFPG-BX EPXOUPXODBNQVT

Phoenix Convention Freeport-McMoRan Center expansion $FOUFSDPNQMFUFE DPNQMFUFE 4'UP NJMMJPO4' DOWNTOWN PHOENIX TIMELINE 9 Infrastructure

Downtown Phoenix is exceptionally well- 'PSPVUPGTUBUFBOEJOUFSOBUJPOBMUSBWFM 1IPFOJY DPOOFDUFE QSPWJEJOHGPSFBTZOBWJHBUJPO 4LZ)BSCPSBJSQPSUJTMPDBUFEKVTUNJOVUFTBXBZ UISPVHIPVUUIFNFUSP"MMPGEPXOUPXOJTXJUIJO GSPNEPXOUPXO1IPFOJY"TUIFth busiest airport UISFFNJMFTPGmWFNBKPSGSFFXBZT#PUI*BOE JOUIFOBUJPO UIFBJSQPSUIBOEMFTPWFS *MPPQBSPVOENVDIPGEPXOUPXO'VSUIFSNPSF QBTTFOHFSTQFSEBZ1IPFOJY4LZ)BSCPSIBTNPSF QVCMJDUSBOTQPSUBUJPOJTQSPWJEFECZMJHIUSBJM XJUI UIBOEPNFTUJDBOEJOUFSOBUJPOBMOPOTUPQ FJHIUTUBUJPOTJOEPXOUPXO1IPFOJY BOECVT*O nJHIUEFTUJOBUJPOT QSPWJEJOHDPOWFOJFOUWJTJUPSBOE GBDU UIF7BO#VSFO$FOUSBMBOE.D%PXFMM$FOUSBM business travel to the region. light rail stations are two of the top 10 busiest light rail stops in the region, with an average of 2,196 BOE XFFLEBZQBTTFOHFST SFTQFDUJWFMZ4

'VSUIFSNPSF UIFDJUZQSPWJEFTJOGSBTUSVDUVSFUIBU makes it one of the most walkable submarkets in the region. Downtown Phoenix has a Bike Score of BOEB8BML4DPSFPG5 In April 2017, the city PG1IPFOJYFYQBOEFEJUT(SJE#JLF4IBSF1SPHSBN UPCJDZDMFTJOTUBUJPOTJOEPXOUPXOBOEJUT TVSSPVOEJOHOFJHICPSIPPET

10 INFRASTRUCTURE PROPERTY NAME HERE

Housing

*ODSFBTFEBDUJWJUZEPXOUPXOIBTSFTVMUFEJO BOETJOHMFGBNJMZIPVTJOHQSPKFDUTPWFSUIF IFJHIUFOFEEFNBOEGPSIPVTJOH"TBSFTVMU QBTUGFXZFBST/FBSMZBQBSUNFOUVOJUT EFWFMPQFSTIBWFCFFOBDUJWFJOUIFEPXOUPXO BSFFYQFDUFEUPCFEFMJWFSFEXJUIJOBPOFNJMF TVCNBSLFUEFMJWFSJOHTFWFSBMNVMUJGBNJMZ SBEJVTPGUIFEPXOUPXO1IPFOJYTVCNBSLFUJO 2017.6 Meanwhile, there are approximately 970 TJOHMFGBNJMZIPNFTJOUIFEPXOUPXO1IPFOJY submarket.7 MULTIFAMILY APARTMENTS

AVG. RENT VACANCY $1,358 4.5%

Q3 2017

Source: Axiometrics

MEDIAN HOUSING PRICE DOWNTOWN PHOENIX SINGLE-FAMILY RESIDENCES CONDO

$450K

$400K

$350K

$300K

$250K

$200K

$150K

$100K 2007 2008 20092010 2011 2012 2013 2014 2015 2016 2017*

*Through September Source: Cromford Report, based on zip codes 85004 & 85003

HOUSING 11 Education

"MMUISFFPG"SJ[POBTNBKPSQVCMJDVOJWFSTJUJFT UNIVERSITIES WITH A "SJ[POB4UBUF6OJWFSTJUZ "46 6OJWFSTJUZPG DOWNTOWN PHOENIX CAMPUS "SJ[POB 6" BOE/PSUIFSO"SJ[POB6OJWFSTJUZ /"6 IBWFBQSFTFODFJOEPXOUPXO1IPFOJY "46BXPSMESFOPXOFEBOEDPOTJTUFOUMZSBOLFE VOJWFSTJUZPQFOFEJUTEPXOUPXO1IPFOJY DBNQVTJOBOEJTUPEBZIPNFUPNPSF # OF STUDENTS IN UIBO TUVEFOUT*O "46SFMPDBUFE DOWNTOWN UIF4BOESB%BZ0$POOPS$PMMFHFPG-BXUP 11,737 EPXOUPXO1IPFOJYXJUIOFBSMZ TUVEFOUT BUUFOEJOHUIFTDIPPM

.FBOXIJMF UIF6OJWFSTJUZPG"SJ[POBPQFOFE UIF1IPFOJY$PMMFHFPG.FEJDJOFDBNQVTJO JOEPXOUPXO1IPFOJY5IFDBNQVTJTQBSU PGUIFDJUZPXOFE1IPFOJY#JPNFEJDBMDBNQVT # OF BBDSFVSCBONFEJDBMBOECJPTDJFODFDFOUFS STUDENTS IN XJUINPSFUIBONJMMJPOTRVBSFGFFUPGQMBOOFE 455 DOWNTOWN CJPNFEJDBMSFMBUFESFTFBSDI BDBEFNJDBOE DMJOJDBMGBDJMJUJFT/"6BOE"46BMTPIBWFB presence on the campus.

#FZPOETVQQMZJOHUIFSFHJPOXJUIOFXUBMFOU BOEKPCT UIFUISFFVOJWFSTJUJFTBMTPQBSUOFSXJUI MPDBMJOEVTUSZGPSSFTFBSDIBOEQSPWJEFJOUFSOTUP nearby government agencies, health clinics, non- # OF QSPmUTBOENFEJBPVUMFUT8 STUDENTS IN 300 DOWNTOWN

# OF STUDENTS IN 260 DOWNTOWN

12 EDUCATION PROPERTY NAME HERE

Lifestyle

Downtown Phoenix is an entertainment SPORTS EFTUJOBUJPOUIBUIBTHBJOFEOBUJPOBMSFDPHOJUJPO %PXOUPXO1IPFOJYJTIPNFUPGPVSPG"SJ[POBT BùFSIPTUJOHANFHBFWFOUTJODMVEJOHUIF TJYQSPGFTTJPOBMTQPSUTUFBNT$IBTF'JFME XIJDI /$""'JOBM'PVS $PMMFHF'PPUCBMM JTUIF"SJ[POB%JBNPOECBDLTCBTFCBMMTUBEJVN $IBNQJPOTIJQBOE4VQFS#PXMGFTUJWJUJFT welcomes an average of 26,300 fans per game.9 Three 0OBUZQJDBMEBZ WJTJUPSTDBOBUUFOEQSP EPXOUPXOUFBNT 1IPFOJY4VOT 1IPFOJY.FSDVSZ sports games, enjoy live music, watch theater BOE"SJ[POB3BUUMFST QMBZBU5BMLJOH4UJDL3FTPSU QFSGPSNBODFTBOEEJOFBUBOBSSBZPGDVMJOBSZ "SFOB BUUSBDUJOHIVOESFETPGUIPVTBOETPGGBOT options. 5IFEPXOUPXOTQPSUTWFOVFTBMTPGFBUVSFTQFDJBM TQPSUJOHFWFOUTJODMVEJOH"."4VQFSDSPTT .POTUFS DOWNTOWN PHOENIX VISITOR COUNT +BNUSVDLTFSJFTBOE88&XSFTUMJOH

Total yearly visitors 6,000,000 PERFORMING ARTS & THEATRES There are numerous performance venues in Sports Venue attendance (2016) 2,900,000 EPXOUPXO1IPFOJYUIBUSBOHFGSPNIJTUPSJDIBMMT Theater Attendance (2016) 1,100,000 UPOFXMZSFGVSCJTIFEDPODFSUWFOVFT0OFPGUIF Special Events MBSHFSNVTJDBOEFOUFSUBJONFOUWFOVFTJOUIF region is Comerica Theater, which can seat 5,000 Final Four 2017 Fan Fest Downtown 50,000 QFPQMF5IFWFOVFIPTUTDPODFSUT DPNFEJBOTBOE March Madness Downtown Music Festival 135,000 live performances throughout the year. Meanwhile, Superbowl 2015 1,000,000 UIFOFXFTUBEEJUJPOUPEPXOUPXOTNVTJDTDFOFJT Cactus Bowl 2016 35,400 5IF7BO#VSFO B TFBUNVTJDIBMMUIBUPQFOFE JO"VHVTU5IFIJTUPSJDCVJMEJOH XIJDIPODF Fiesta Bowl 2016 71,200 IPVTFEBDBSEFBMFSTIJQ XBTEFWFMPQFECZUIFTBNF Convention Center attendance (2016) 221,378 PXOFSCFIJOEQPQVMBSEPXOUPXOWFOVFTTVDIBT Source: Downtown Phoenix Inc., 2017 4UBUFTJEF1SFTFOUT $SFTDFOU#BMMSPPNBOE7BMMFZ Bar.

DOWNTOWN PHX ENTERTAINMENT AND NIGHTLIFE ACCOMMODATIONS 5IFDJUZTFOUFSUBJONFOUEJTUSJDUJTJOUIFIFBSU PGEPXOUPXO1IPFOJY5IFBSFBJTLOPXOGPS JUTOJHIUMJGFBOEFOUFSUBJONFOUPQUJPOTWJBUIF NJDSPCSFXFSJFT CBSTBOEOJHIUDMVCTUIBUMJOFUIF TUSFFUT NBOZPGXIJDIGFBUVSFMJWFNVTJDBOEPUIFS entertainment throughout the week. Downtown HOTEL ROOMS RESTAURANTS Phoenix also features a variety of retailers, 3,847* 180+ SFTUBVSBOUT BNPWJFUIFBUFS CPXMJOHWFOVFBOE DPNFEZDMVC"EEJUJPOBMMZ UIPVTBOETPGWJTJUPSTBSF *Includes new Hampton Inn ESBXOUPEPXOUPXO1IPFOJYTBSUTEJTUSJDUFWFSZmSTU opening spring 2018 'SJEBZPGUIFNPOUIUPBUUFOEPOFPGUIFOBUJPOT MBSHFTU TFMGHVJEFEBSUXBMLT

LIFESTYLE 13 Tallest Office Buildings

TALLEST OFFICE BUILDINGS BY NUMBER OF FLOORS

Building Name Square Feet Floors 201 N Central Avenue 672,401 40

US Bank Center 366,114 31

Two Renaissance Square 476,873 28

CityScape 568,000 27

Freeport-McMoRan Center 210,000 26

One Renaissance Square 489,157 26

100 W Washington Street 473,286 24

Collier Center 512,266 23

One North Central 410,000 20

One Arizona Center 322,000 20

Two Arizona Center 453,000 20

Source: CBRE Research

14 STATS PROPERTY NAME HERE

References

1. Esri, 2017

2. Maricopa Association of Governments, 2016

2VJDLFO-PBOT 2VJDLFO-PBOT.PWFT"SJ[POB0ɮDFUP6SCBO$PSFPG%PXOUPXO1IPFOJY

7BMMFZ.FUSP 'JTDBM:FBS3JEFSTIJQCZ4UBUJPO

5. WalkScore

6. Axiometrics, 2017

7. Esri, 2017

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REFERENCES 15 CONTACT US

BERT KEMPFERT Senior Vice President ±1 602 735 5526 [email protected]

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