PROJECT DESCRIPTION CHEVAL BLANC BEVERLY HILLS 468 and 456 North Rodeo Drive, 449 and 461 North Beverly Drive, Beverly Hills, California 90212 A. Applicant and Project Site The Applicant (collectively, 468 N RODEO DRIVE LLC, 456 N RODEO DRIVE LLC, 461 N BEVERLY DRIVE LLC, and 449 N BEVERLY DRIVE LLC1) proposes the construction of a single mixed-use building including a luxury Hotel with a private Club, restaurant, lounge, bar and other Appurtenant uses, ground level and second floor Retail (the “Project”).2 The Project will be operated as “Cheval Blanc Beverly Hills” at 468 and 456 North Rodeo Drive, 461 (inclusive of 461 through 465) North Beverly Drive, and 449 (inclusive of 451 and 453) North Beverly Drive, Beverly Hills, California 90212 (collectively, the “Project Site”). The Project Site includes street frontage along South Santa Monica Boulevard, North Rodeo Drive and North Beverly Drive (Figure 1). B. Project Goals and Objectives The Project proposes redevelopment of the 1.20-acre Project Site, a gateway site within the northern portion of the Beverly Hills Business Triangle, to establish an anchor use that will attract visitors to the Business Triangle and Beverly Hills. The Project proponent, Cheval Blanc (a division of LVMH), develops and operates a limited number of one-of-a-kind luxury hotel developments at select locations around the world. The Cheval Blanc Beverly Hills, the first urban Cheval Blanc in North America, will provide a one-of-a-kind luxury Hotel development that will promote harmonious, robust and resilient economic development of the Business Triangle and surrounding area. The mixed-use, Hotel-driven luxury anchor development is designed to be compatible with the scale and massing of the surrounding neighborhood, to provide pedestrian friendly amenities and uses along the street level providing a vital link between the Rodeo Drive and North Beverly Drive corridors, and to be sensitive to the quality, life and character of the surrounding community. Consistent with Cheval Blanc’s commitments at its properties throughout the world, the development incorporates environmentally sensitive, sustainable, and responsible design. The Project’s goals and objectives include: To ensure that a luxury mixed-use Hotel-driven development acting as an anchor use for the northern portion of Rodeo Drive will enhance the City’s Business Triangle and will promote harmonious, robust and resilient economic development of the Business Triangle and surrounding area. To provide for luxury Hotel-driven development that is compatible with the scale and massing of the surrounding neighborhoods, through appropriate modulation, upper story 1 449 N Beverly Drive LLC is applying for the Project Entitlements pursuant to the rights granted to 449 N Beverly Drive LLC in that certain Purchase and Sale Agreement dated November 4, 2019, by and between Hershenson Investments, LLC, as Seller, and 449 N Beverly Drive LLC as Purchaser, a Memorandum of which is recorded as document number 20191209224 in the Official Record of Los Angeles County California on November 7, 2019, and the Letter of Authorization and supporting materials submitted herewith. 2 Capitalized terms not defined herein have the meaning given to them in the draft Specific Plan; for definitions of the permitted Hotel, Club, Appurtenant and Retail uses, see Specific Plan Section 4.2. 1 setbacks, height and massing transitions, other similar measures, or any combination thereof. To provide pedestrian friendly amenities and uses along the street level, and setbacks that are generally consistent with other development along South Santa Monica Boulevard, North Rodeo Drive and North Beverly Drive. To ensure that luxury Hotel-driven development will be sensitive to the quality, life and character of the surrounding community. To encourage a one-of-a-kind luxury Hotel development and new anchor use that will attract visitors to the Business Triangle and Beverly Hills, providing additional tax revenue for the City both directly and indirectly by supporting robust and resilient economic development of the Business Triangle and surrounding area. To incorporate environmentally sensitive, sustainable, and responsible design. To promote and protect the public health, safety, or welfare. C. Project Overview The Project includes approximately 211,971 square feet of floor area in a single building including: A Hotel with approximately 115 guest rooms and Appurtenant uses including but not limited to a private Club, restaurants, bars and lounges, lobbies and other common areas, meeting rooms, wellness (fitness) center, Spa, screening-game rooms, storage including wine storage, and back of house (“BOH”), occupying approximately 187,671 square feet, with up to 5,000 square feet of outdoor dining areas and approximately 20,000 square feet of pool deck areas on the varied roof areas, and ample balconies associated with guest rooms.3 24,300 square feet of first floor at grade (ground floor) and second floor Retail space. 172 vehicle parking spaces in a subterranean garage; a Parking Demand Analysis is attached hereto as Exhibit 1. The Project includes demolition of the existing improvements on the Project Site, described below. The Project’s maximum proposed above-ground floor area ratio (the “FAR”) is approximately 3.9:1, and its cumulative FAR is approximately 4.2:1. The Project varies in height from five stories [maximum height of 51 feet] along North Rodeo Drive to nine stories [maximum height of 115 feet] along North Beverly Drive. The Project includes three subterranean floors: B1 is space devoted to BOH uses, internal circulation, loading and parking; B2 and B3 are devoted to parking, internal circulation, storage and building systems. 3 Exterior walls, stair shafts, elevators, elevator lobbies less than 100 sf per cab, parking spaces and access, mechanical equipment/machinery rooms, outdoor dining areas, decks and balconies are not included in floor area calculations 2 Typical Hotel rooms range from 620 square feet to 1,300 square feet, providing a generous guest experience. Floor to floor heights are typically expected to be 12’-6,” which will require efficient planning to achieve room ceiling heights of 9’-6” with a 3’-0” envelope remaining to accommodate structure and mechanical-electrical (“MEP”) systems distribution. The existing alley that runs north-south and is currently accessed from South Santa Monica Boulevard will be relocated to the southern portion of the Project Site. The new access point to the alley will be from the west side of North Beverly Drive. A valet Motor Court on South Santa Monica Boulevard will be used for drop-off and pick-up for Hotel guests, Club members, Spa, Retail and Restaurant patrons. Employee and valet driven vehicles will enter the Project’s subterranean parking from the relocated alley off of North Beverly Drive. Employees and delivery pick-up trucks will exit the subterranean parking through the existing alley. Valet driven vehicles will return from the subterranean garage to the Motor Court via ground-floor internal circulation; a Valet Parking Management Plan is attached as Exhibit 2. Retail parking may be provided by participation in the in-lieu parking program. The Project’s two full size loading area will be located at grade on the Project Site with access for the relocated alley: two smaller format van loading spaces may be provided below grade as described in Exhibit 3. Primary pedestrian access to the Project Site will be provided through the Hotel entrance along South Santa Monica Boulevard; a Club member alley also provides pedestrian access on North Beverly Drive. Retail spaces along North Rodeo Drive will have separate pedestrian access points from the sidewalk along the street. Visitors may not access the hotel through the North Rodeo Drive retail spaces. The main access to the ground floor restaurant will be through the Hotel lobby, with secondary access points provided on South Santa Monica Boulevard and North Beverly Drive. 3 The Project’s square footage, by use, is summarized in Table 1 – Development Program. Table 1– Development Program* Subtotals Totals Total Floor Area* (211,971 on plans) Hotel Rooms Up to 115 Hotel Floor Area, including: Rooms (with adjoining circulation) 120,267 sf Hotel/Club Lobby and circulation 8,006 sf Wellness (Fitness) Center 4,924 sf Spa 12,226 sf Dining/Bar (Outdoor) 4,532 sf Central Kitchen/Employee Facilities 14,638 sf Member’s Club-Hotel uses including: Club and Screening Rooms, Lounge 7,001 sf Levels 6 and 7 Restaurant, 12,249 sf Lounge, Bar, and Kitchens** (indoor) Ground Floor/Second Level Restaurant, 8,360 sf Lounge, Bar, and Kitchen** (indoor) Total Hotel and Appurtenant Uses 187,671 sf Retail 24,300 sf 24,300 sf Parking Spaces Provided 172 Floor Area Ratio*** 4.2 Above-Ground Floor Area Ratio*** 3.9 * The Development Program sets forth the approximate amount of space that may be allocated to each use in the building and shall be used for the basis of design. All floor areas listed above are approximate. Adjustments in floor area may occur between uses as provided for in Section 6.3; however, the maximum floor area of the Project shall not exceed 219,260 sf. ** The Project will provide up to 5,000 sf of outdoor dining on private property. *** Exterior walls, stair shafts, elevators, elevator lobbies less than 100 sf per cab, parking spaces and access, mechanical equipment/machinery rooms, outdoor dining areas, decks and balconies are not included in floor area calculations. 4 Table 2 lists major uses per above grade plan level. Table 2 - Major Uses per Level Level Uses* Ground Restaurant, Bar, Outdoor Dining, Retail, Lobbies, Internal Circulation and Loading Area Second Restaurant and Retail Third Guest Rooms, Members Club (Screening, Meeting, and Lounge Rooms) Fourth Guest Rooms, Spa Fifth Guest Rooms, Spa Sixth Guest Rooms, Restaurant, Outdoor Roof Top Bar, Pool Seventh Guest Rooms, Members Club (Bar, Outdoor Dining) Eight Guest Rooms, Members Club (Wellness (Fitness) Center, Outdoor Terrace) Ninth Penthouse Guest Room Suite, Private Pool and Deck * BOH and MEP rooms are located on all levels.