2026-01-26 ATT 2 - WHCHC Proposal — City Council Meeting Agenda, January 26, 2026

WASHINGTON
PALMS
Request for Proposal
Culver City Disposition & Development
August 25, 2025

1 WASHINGTON PALMS
Table of Contents
Executive Summary…………………………………………………………………………………………………………………………………3 Questionnaire to Proposal………………………………………………………….……………………………………………………………4 Section B – Developer Qualifications………………………………………………………………………………………………….……8 B.1-B.2 Developer Origins………………………………….……………………………………………..……………………..…9 B.2 Developer Org Chart……..……………………………………………………………………………………………………10 B.3 Team Lead………..……….………………….…………………………………………………………………….……………..11 B.4 Developer Experience………………….…………………………………………………………………….…………..…..12 B.5 Developer Unique Qualifications.……………………………………………………………..……….…………..…..14 B.6 Developer Selected Projects.…………..………………………………………………………..……….…………..…..15 Section C.1 &C.2 – Development Team Qualifications…...………………………….………………………………………….29 C.3 Developer Team Org Chart….………………………………………………………………………………………………32 C.4 Developer Team Bios & Experience…………………….………………………………………………………………35 C.4 Architect Qualifications & Experience………………….…………………………………………..…………………39 Section D – Project Vision………………………………………………………………………………………………………………………52 D.1 Project Vision………………………………………………………………………………………………………………………53 D.2 City Goals……………………………………………………………………………………………………………………………54 D.3 Entitlements Approach.………………………………………………………………………………………………………55 D.4-D.6 Architectural Plans……..………………..…………………………………...…………………………………………56 D.7-D.8 Residential Program & Long-Term Affordability…………….………………………….…………………66 D.9 Residential Services………….…………………………………………………………………………………………………67 D.10 Sustainability & Local Hire….…………………………………………………………………………………………….68 D.11 Project Unique Features…………..……………………………………………………………………………………….70 D.13 Community Outreach……………………………………………………………………………………………………….71 Section E.1 -E.3 – Financial Pro Forma……………….………………………………………………………………………………….73 E.4 City Benefits…..……………………………………………………………………………………………………………………87 Section F – References.………………………………………………………………………………………………………………………….88 Section G – Project Schedule……………….…………………….………………………………………………………………………….90 2 REQUEST FOR PROPOSALS
REDEVELOPMENT OF 11029 WASHINGTON BOULEVARD
May 2025
City of Culver City
City Manager’s Office
9770 Culver Boulevard
Culver City, CA 90232-0507

EXECUTIVE SUMMARY – WASHINGTON PALMS

Developer Qualifications
West Hollywood Community Housing Corporation (WHCHC), founded in 1986, brings nearly four decades of expertise in developing and managing high-quality, service-enriched affordable housing. For Washington Palms, WHCHC will serve as the lead developer, asset manager, and service provider, ensuring long -term stability and mission alignment. The development team is excited partner with EYRC Architects for innovative design, Burns and Bouchard for land use expertise, and AMJ Construction Management for construction efficiency—forming a powerhouse team with a shared commitment to excellence.

Project Vision
Washington Palms is a 67 -unit, 100% affordable, mixed -use development for workforce households, with a preference for teachers. Located one block from Tellefson Park and proximate to four Culver City Unified campuses, the development is deeply rooted in community needs. The ground floor feature five artist lofts and a gallery storefront to create a cultural hub that enlivens the streetscape and promotes walkability. Drawing inspiration from the historic Culver Hotel, the design blends classical details with modern sensibility, while indoor and outdoor gathering spaces foster connection among residents and the neighborhood. Washing ton Palms is conceived as more than housing —it is a long -term community anchor celebrating both affordability and cultural vitality.

Financial Strategy
The project’s financing model maximizes leverage while minimizing the City’s financial burden. By building on a donated site, Washington Palms will unlock $15 million in highly competitive State HCD funding. Despite targeting deep affordability—25% of unit s reserved for extremely low -income households —the project is designed to be fully self -operating, requiring no Project-Based Vouchers or ongoing City subsidy. Over the first 15 years, the project is projected to generate more than $2.3 million in net financial benefits for Culver City, representing a mutual long-term investment in stability, equity, and growth.

Timeline
Washington Palms is conceived to deliver housing on an accelerated timeline, with a ministerial entitlements approval and financing secured by next fall. Groundbreaking is scheduled for spring of 2027, with anticipated completion and resident move-in by fall of 2028.

3 SECTION A – Questionnaire / Response to The Proposal
Requirements

A. Company and General Information

1. Company name and address. Also, include A/P remit address, contact names, emails and phone numbers.

Company Name and Address:

W
est Hollywood Community Housing Corporation
7530 Santa Monica Boulevard.

West Hollywood, CA, 90046
AP Remit Address:

W
est Hollywood Community Housing Corporation
7530 Santa Monica Boulevard.

West Hollywood, CA, 90046
Contact Names Emai
ls and Phone Numbers
4 2. Letter of transmittal signed by an individual authorized to bind the respondent, stating that the respondent has read and will comply with all terms and conditions of the RFP Attached.

5 6

3. General information about the primary contact who would be able to answer questions about the proposal. Include name, title, telephone number and email address of the individual.

Anup Patel is the Director of Real Estate Development for West Hollywood Community Housing Corporation and can answer questions about the proposal. Anup can be reached via phone at 323.650.8771 x126 or email at [email protected]
7 B
2 DEVELOPER

QUALIFICATIONS &

EXPERIENCE
8 SECTION B – DEVELOPER QUALIFICATIONS
B.1 & B.2 Development Origins
West Hollywood Community Housing Corporation
(WHCHC) will act as the developer, asset manager, and
service provider for the proposed development. Founded
in 1986, WHCHC is a 501(c)(3) non -profit affordable
housing corporation. WHCHC’s mission is to build h omes and provide services that move community members
from insecurity to stability.

WHCHC started from humble beginnings, as vacant land
has always been difficult to purchase in the City of West Hollywood. The first two projects entailed acquisition and gut rehabs of dilapidated buildings. The ensuing
developments in the early 1990s evolv ed into renovating bungalows and building new detached homes at the rears, now commonly known as Accessory Dwelling Units
(ADUs). WHCHC eventually progressed to building
ground-up construction.

Based on the needs of West Hollywood, WHCHC initially
focused on providing housing for seniors and people with special needs. WHCHC built some of the first housing on the West Coast to serve individuals living with HIV/AIDS.

Gradually, WHCHC expanded its r each to house more
populations in need. WHCHC’s apartment communities
serve seniors, low-income individuals and families, people living with mental and/or physical disabilities, and
formerly homeless. WHCHC now has 2 4 affordable
apartment communities in four cities with over 950 units.

These apartment communities provide high quality living environments to nearly 1,200 residents.

Team Directory
9 Board Of Directors
(14 Members)
Jesse Slansky
President & CEO
Ted Zaluski
Interim Controller
Jen Burke
Accountant
Rachel Bacola
Interim Director of
Asset Management
Auriana Melson
Asset Manager
Arlene Munoz
Asset Management
Assistant
Sam Borelli
Director of
External Affairs
Nellie Youn
External Affairs
Assistant
Anup Patel
Director of Real
Estate Development
Joseph Craer
Project Manager
Onur Gunana
Associate Project
Manager
Evelyn Liaw
Associate
Project Manager
Danny Pepper
Director of
Resident Services
Cheryl Naluai
Lead RSC
Juan Moreno-Ortiz
RSC
Gema Martinez
RSC
Rolando Lira
Lead RSC
Eric Formhals
RSC
Francisco Hurtado
RSC
Judy Guzman
Lead RSC
Lilia Perez
RSC
Marianna Arciga
RSC
Shin Kim
RSC
Bella Vodovoz
Lead RSC
Galina Rostova
RSC
Galina Edwards
RSC
Jon Tumasyan
RSC
Elizabeth Johal
Office Manager
West Hollywood Community Housing Corporation
B.2 Organizational Chart 2025
10 B.3 Team Lead
WHCHC, led by CEO Jesse Slansky, is an established
affordable housing developer based in West Hollywood,
specializing in housing development, asset management,
and resident services. With 28 experienced staff —
including project managers, finance professiona ls, and construction specialists —WHCHC delivers high -quality, service-enriched housing from concept through lease -up and has a strong record in securing entitlements,
financing, and community support. For the proposed
Culver City development, WHCHC will serve as developer, asset manager, and lead service provider, with Director Anup Patel overseeing entitlements and financing, and
Senior Project Manager Joe Craer managing day -to-day
operations.

Firm
Address Name Title Telephone Email Address Role
WHCHC
7530 Santa Monica
Boulevard,
West Hollywood, CA
90046
Jesse Slansky CEO & President 323.650.8771
x114
[email protected]
Developer
Anup Patel Director of Real
Estate
Development
323.650.8771
x126
[email protected]
Joe Craer Senior Project
Manager
323.650.8771
x123
[email protected]
Danny
Pepper
Director of
Resident Services
323.650.8771
x118
[email protected]
Residential
Services
Rachel
Bacola
Interim Director
of Property &
Asset
Management
323.650.8771
x125
[email protected]
Property &
Asset
Management
11 B.4 Developer Experience
Since its founding in 1986, West Hollywood Community
Housing Corporation (WHCHC) has developed 2 6 urban
infill communities designed to meet the diverse needs of families, seniors, and those with special needs. We
specialize in creating high -quality affordable housing in small and mid -sized jurisdictions, often with affluent and vocal constituencies—similar in character to Culver City.

In the past five years, WHCHC has delivered 469 new units across Southern California, with all properties now
operational or in lease -up. This fall, WHCHC will open a new 104 -unit senior community and begin construction
on a 94 -unit workforce housing devel opment, continuing the organization’s commitment to expanding high-quality affordable housing.

Over four decades, WHCHC has received multiple awards
for projects known for their architectural distinction, environmental responsibility, and exceptional resident
services. These successes reflect WHCHC’s strong
partnerships with cities, funders, and des ign
professionals, resulting in buildings that both enhance neighborhoods and make effective, efficient use of public and private resources.

After buildings are completed, WHCHC maintains a high
standard of asset management and take prides in the way that these apartment communities enhance the
neighborhood in which they are built. Today, WHCHC
owns and operates 24 affordable apartment communities
with over 950 units in Southern California.

WHCHC is excited to bring its mission of delivering
exceptionally designed, crafted homes to Culver City.

WHCHC prioritizes close collaboration with local staff to implement comprehensive community outreach plans. In
Palm Springs, for example, we led over 25 meetings across twelve months to gather public input, educate
stakeholders, and build broad -based support —efforts
that fostered strong community trust and partnership,
including with local HOA association. Similarly, our proven expertise in navigating complex entitleme nt processes, fostering collaborative community dialogue, and
delivering award-winning designs earned us selection by the City of Beverly Hills —out of 28 competitive
proposals—to develop its largest affordable housing
community to date. WHCH C is ready to serve Culver City as a trusted, responsive, and collaborative development partner.

12 # %
of Type Low- Year WHCHC
Units Income Occupied Role
Rampart Mint, L.P. 23 Co-General Partner
252 S. Rampart Blvd. 23-Studios Co-Developer
Los Angeles, CA 90057 Asset Manager
County: Los Angeles
93 Westmore Linden, L.P. 1-2 Br. General Partner
1250 S. Westmoreland Ave. 79-1 Br. Developer
Los Angeles, CA 90006 13-Studios Asset Manager
County: Los Angeles Service Provider
Elden Elms, L.P. 93 General Partner
1255 Elden Ave. 30-3 Br. Developer
Los Angeles, CA 90006 15-2 Br. Asset Manager
County: Los Angeles 48-1 Br. Service Provider
Harland Boxwood 12
702 N. Doheny Dr. 12-1 Br.

West Hollywood, CA 90069
County: Los Angeles
Berendo Sage, L.P. 42
1035 S. Berendo St. 6-3 Br. General Partner
Los Angeles, CA 90006 6-2 Br. Developer
County: Los Angeles 25-1 Br. Asset Manager
5-Studios Service Provider
Mariposa Lily, L.P. 41
1055 S. Mariposa 6-3 Br. General Partner
Los Angeles, CA 90006 6-2 Br. Developer
County: Los Angeles 24-1 Br. Asset Manager
5-Studios Service Provider
Third Thyme, L.P. 104
1435 W. 3rd St 104-1 Br. General Partner
Los Angeles, CA 90026 Developer
County: Los Angeles Asset Manager
Service Provider
Miramar Gold, L.P. 94
1435 Miramar Street 29-3 Br. General Partner
Los Angeles, CA 90026 18-2 Br. Developer
County: Los Angeles 47-1 Br. Asset Manager
Service Provider
Aloe Palm Canyon, L.P. 71
1475 N. Palm Canyon Drive 71-1 Br. General Partner
Palm Springs, CA 92262 Developer
County: Riverside Asset Manager
Total Developed (last 5 years) 639
30% - 60%
Familes &
PSH
Families 15% - 60% 2021
Seniors &
PSH
Familes &
PSH
Seniors &
PSH
Owner
20% - 60% 2022
20% - 60% 2022
60% 2021
2025
2025
2025
15% - 60% 2020
B.4 Developer Experience (last 5 years)
West Hollywood Community Housing Corporation (WHCHC)
Property Name and Address
20% - 80%
20% - 80%
Seniors
Special Needs
Familes &
PSH
30% 2020
Low-Income
13 B.5 Developer’s Unique Qualifications
WHCHC stands out for its award -winning affordable
housing, exceptional architecture, and resident services focused on long -term community transformation. This
reputation has enabled us to consistently win competitive RFPs for developments on city-owned land, including Palm Springs, Los Angeles, and recently, Beverly Hills.

Our buildings are designed with emerging architects,
featuring environmentally conscious, bold, and artful
designs that enhance livability and neighborhood
character. As one of Southern California’s first developers of eight -story affordable housing, we ha ve overcome
complex zoning challenges to set new regional standards.

Under current leadership, WHCHC has developed over
469 homes in eight major communities across three cities, nearly doubling our portfolio. With a streamlined staff, we maintain hands -on involvement, allowing deep
collaboration with architects and stakehol ders, ensuring exceptional craftsmanship and attention to detail.

Our agility enables innovation and faster project delivery by leveraging new funding platforms. For instance, at Aloe Palm Canyon, we used Housing Accelerator funds to
bypass traditional tax credits, saving 15 months of
predevelopment time. We excel at rai sing gap financing during construction, ensuring timely, high -quality
completion, and securing attractive loan terms and
competitive tax credit pricing.

Our individualized development approach embraces
contextual responsiveness and detailed craftsmanship.

We engage extensively with local communities to ensure
each project becomes a source of neighborhood pride.

Our buildings blend styles like art deco, Spa nish colonial, and mid -century modern, achieving extraordinary
architecture with meticulous craftsmanship, universal
design, and industry accolades.

WHCHC’s innovation, strategic financial management,
design excellence, and community engagement firmly
establish us as a leader in high -quality affordable housing development with exceptional architectural distinction.

14 Selective Projects
15 Mariposa Lily
Los Angeles, 2023
Completed in the fall of 2023,
Mariposa Lily is new construction of
a forty-one unit intergenerational
housing community for low- and
very low-income families and
seniors in the Koreatown/Pico-
Union neighborhood of the City of
Los Angeles. Mariposa Lily is a mix
of studios, one-, two-, and three-
bedroom rental apartments, with
half of the units designated as
permanent supportive housing
(PSH) for formerly homeless
community members. One unit will
be reserved for an on-site property
manager.

Common-area amenities include a
rooftop patio, a community room
with kitchenette, a computer area, a
laundry room, a bike storage room,
two social services offices, and one
property management office. Each
unit includes universal design
principles to be fully accessible for
people with and without mobility
impairments, which facilitates aging
in place.

LEED Gold Certified
Architect: HED
Contractor: United Building Co.

AMI: 20% - 60%; 20 PSH
Lenders and Funders:

CSH,

LAHD (HHH),
CTCAC – 4%
Bank of America
Citibank
ADA:
100% adaptable
10% mobility & 5% Sensory
16 Aloe Palm Canyon
Palm Springs, 2025
WHCHC’s Aloe Palm Canyon
welcomes 71 one-bedroom rental
apartments located on N. Palm
Canyon Drive in the City of Palm
Springs. Of the 71 units, twenty-five
(25) will be reserved as permanent
supportive housing for formerly
homeless seniors. The ground floor
will feature a variety of common
amenities organized around a central
outdoor open space.

Amenities will include a community room with a demonstration kitchen, a computer room/library, a fitness room, a laundry room, and a manager’s office. Three offices will be included for onsite supportive services for residents. Aloe Palm Canyon will include a shared outdoor open space on the ground level.

AMI: 20% - 80%; 25 PSH
Lenders and Funders: LIIFCity of Palm SpringsCounty of RiversideHCD – NPLHHCD - AcceleratorSilicon Valley BankJLL Capital ADA:100% adaptable10% mobility & 5% Sensory
17 Berendo Sage
Los Angeles, 2022
Berendo Sage is a 42 unit affordable apartment
community in the Koreatown/Pico-Union area of
the City of Los Angeles. Twenty-one (21) units are
for formerly homeless individuals and families.

Twenty (20) units are low-income households
and families making up to 50% of the area
median income (AMI).

Designed for families, Berendo Sage includes one,
two and three-bedroom homes, each with their
own private balcony, and universal design
features to accommodate all physical abilities
while allowing for residents to age-in-place.

The rooftop community room includes a
kitchenette, computer area, laundry room and
opens onto a landscaped sky deck with barbecue
and seating area.

LEED Gold Certified
Architect: Urban Architecture Lab
Contractor: United Building Co.

AMI: 20% - 60%; 21 PSH
Lenders and Funders:

CSH,

LAHD (HHH),
CTCAC –4%
Citibank
Enterprise Community Partners
ADA:
100% adaptable
10% mobility & 5% Sensory
18 Elden Elms
Koreatown/Pico-Union
Los Angeles, 2021
Elden Elms is a 93 unit affordable community for
families making up to 60% of the area median
income (AMI), with 15 one bedroom units as
permanent supportive housing. With ample vehicle
parking, Elden Elms contains 100 vehicular parking
spaces plus 103 bike parking spaces.

Elden Elms features many amenities for families.

There is a spacious community room with a kitchen,
a computer room, fitness studio, nursing nook and
laundry facilities. The outdoor courtyard includes
play areas for children, barbecue area, and a Zen
garden. There are also open-air seating nooks with
fantastic views of the Downtown LA skyline.

LEED Gold Certified
Architect: Urban Architecture Lab
Contractor: United Building Co.

AMI: 15% - 60%; 15 PSH
Lenders and Funders:

HCD AHSC

CTCSH - NGF
DHS
Union Bank
CAC – 9%
ADA:
100% adaptable
10% mobility & 5% Sensory
19 Blue Hibiscus
West Hollywood, 2018
Blue Hibiscus is designed for individuals
and households with special needs and
includes five apartments for transition
age youth. The 22-unit building was a
pilot project for WHCHC incorporating
universal design principles.

Blue Hibiscus features a spacious roof
deck, a container garden area, a fully
furnished community room with
kitchenette, a fitness room, a laundry
room, resident services offices and a
building manager’s office. The Blue
Hibiscus design concept focuses on
connection to the surrounding
neighborhood, social interaction, and
sustainability.

LEED Platinum Certified
Architect: KFA Architecture
Contractor: Dreyfuss Construction
AMI: 30% - 80%; 21 SN
Lenders and Funders:

City of West Hollywood,
LACDA
HCD
CTCAC - (9%)
Union Bank
ADA:
100% adaptable
10% mobility & 5% Sensory
20 Blue Hibiscus
West Hollywood, 2018
21 Movietown Square
West Hollywood, 2016
WHCHC partnered with Avalon Bay to develop the
affordable portion of the Avalon West Hollywood
mixed-use development at the site of the former
Movietown Plaza.

WHCHC developed this 77-unit affordable housing
development for seniors age 62 or greater as part
of the Avalon Bay's 371 unit mixed-use project.

Movietown Square includes a community room
with kitchenette, and outdoor gardens. Each unit
includes a private balcony, many with views of the
Hollywood Hills and downtown Los Angeles.

LEED for Gold Certified
AMI: 30% - 60%
Lenders and Funders:

Enterprise Community Partners
CTCAC
ADA:
100% adaptable
10% mobility & 5% Sensory
22 The Courtyard at La Brea
West Hollywood, 2013
The Courtyard is a 32-unit apartment
community which serves a mixed
population of very low and low income
households, including families, people
with special needs, those with a mental
illness diagnosis, and transition-age
youth emerging from foster care.

The Courtyard was constructed in
conformance with Build It Green’s
Multifamily Rated program. Storm
Water Management Strategies and low-
impact development practices will
include two inﬁltration planters to
control storm water pollution by
retaining as much storm water on site
as possible. Sustainable features
include solar-powered hot water and
electricity.

Contractor: Alpha Construction
Architect: John V. Mutlow Architects
Patrick Tighe Architecture
AMI: 30% - 50%
Lenders and Funders:

City of West Hollywood,
LACDA
Union Bank
ADA:
100% adaptable
10% mobility & 5% Sensory
23 The Courtyard at La Brea
West Hollywood, 2013
24 z
Sierra Bonita
West Hollywood, 2010
Sierra Bonita Apartments is the City
of West Hollywood’s first mixed-use
affordable housing development.

Sierra Bonita integrates into its
design “active” green features such
as solar panels to offset the
common area electrical load, a solar
hot water system and a cool roof
with high solar reflectivity, which
reduces heat gain to the upper floor
units. Sierra Bonita is home to
WHCHC’s corporate headquarters,
located on the ground floor level.

Sierra Bonita is home to WHCHC’s
corporate headquarters located on
the ground floor. Sierra Bonita has
won over a dozen regional and
national awards.
.

Architect: Patrick Tighe Architecture
Contractor: Parker Sarg
AMI: 30% - 60%
Lenders & Funders:

City of West Hollywood,
NEF
LACDA
Wells Fargo Bank,
HCD – MHP
AHP
Home Depot
ADA:
100% adaptable
10% mobility & 5% Sensory
25 Miramar Gold
Los Angeles, 2025
Miramar Gold is new construction of 94
affordable rental apartments in the
Westlake North neighborhood of the City
of Los Angeles. 47 one-bedroom units
will be reserved for individuals and
families who have experienced
homelessness. 46 units will house low-
income households and families making
up to 60% of the area median income. A
total of nine units are reserved for TAY
(Transition Age Youth). One unit is for
the building manager.

Miramar Gold will offer a variety of
amenities including a community room
with a kitchenette, a fitness room, a
computer room/ library, a laundry room,
and shared outdoor open space both on
the ground level and on the roof. There
will be an office for the building manager
and four offices for onsite supportive
services.

AMI: 20% - 80%
Lenders and Funders:

CSH

LAHD (HHH)
LACDA
CTCAC –9%
Bank of America
CCRC
ADA:
100% adaptable
50% mobility & 5% Sensory
26 0
Third Thyme
Los Angeles, 2025
Third Thyme will be new construction of
104 one-bedroom affordable rental
apartments for seniors. The project is
located in the Westlake North
neighborhood of the City of Los Angeles.
47 units will be reserved for formerly
homeless seniors. Two units will be
reserved for fulltime on-site building
managers.

The project will include a variety of
common amenities, including a community
room with a demonstration kitchen, a
fitness room, a lounge/computer room/
library, a laundry room, and building
manager office. The project will include a
shared outdoor open space in the back
yard and a central open-air courtyard on
the third floor.

AMI: 20% - 80%
Lenders and Funders:

CSH

LAHD (HHH),
CTCAC –4%
NEF
Silicon Valley Bank
JLL Capital
ADA:
100% adaptable
50% mobility & 5% Sensory
27 910 Wetherly Drive
West Hollywood
910 Wetherly Drive will be a 100% affordable apartment community created to provide 89 high-quality rental homes for low- and moderate-income households. The population will include people living with a chronic illness, transition age youth (TAY) and community members making 80% Area Median Income or below, also known as moderate/workforce income. 80% Area Median Income for Los Angeles County = $66,720 for an individual.

The entry level includes a lobby, building manager's office and fitness room. The second through sixth floors are organized around a central courtyard which provides outdoor space, covered exterior circulation and natural ventilation. The landscaped rooftop includes a community room with kitchenette and computer area. It also includes a laundry room, social services offices, community gardens and gathering areas for residents to enjoy. There will be a dog run on the ground level.

AMI: 20% - 80%
ADA:100% adaptable15% mobility & 10% Sensory
28 C
2 DEVELOPMENT
TEAM

EXPERIENCE &

QUALIFICATIONS
29 SECTION C1 & C2 - DEVELOPER TEAM QUALIFICATIONS

WHCHC is excited to propose a groundbreaking new development in Culver City, bringing together a dynamic team of local expertise. WHCHC will act as the developer, asset manager, and lead service provider for the proposed development. This project combines WHCHC’s services leadership and the local expertise of Burns and Bouchard land use with EYRC’s world - class architectural design and AMJ Construction’s strong project management. Together, we are creating an important development that reflects the unique spirit of Culver City and meets critical housing needs.

EYRC
This project marks WHCHC’s first collaboration with EYRC, Honored with the AIA National Firm Award in 2015,
Ehrlich Yanai Rhee Chaney Architects is a versatile practice that has earned an international reputation for design
excellence and an exemplary professional culture.

Founded in 1979, the Los Angeles and San Francisco-based firm is a 40 member team that has mastered building
types ranging in scale from houses to courthouses,
including libraries, university centers, corporate and
government facilities. EYRC Architects has been
recognized with more than 200 awards including twelve
national AIA awards, and the title of AIA California Council Firm of the Year in 2003.

AMJ CONSTRUCTION
Our enduring partnership with AMJ Construction has been a cornerstone of success across five previous projects, including Aloe PalmCanyon. This collaborative
relationship ensures efficiency and innovation at every stage of development. AMJ’s expertise come s as a result of over 75 years of combined experience amongst the
firm’s principals. AMJ has successfully managed a diverse range of projects from the historic renovation of individual Hollywood bungalows to the new construction of 200+
unit master-planned developments.
30 Burns and Bouchard
WHCHC has partnerned with Burns and Buchard for
several properties for services including permitting,
entitlements, community outreach, government
affairs. All have successfully garnered appropriate
permits and approvals or are on their way. This
multifaceted practice combines a core of urban
planning and development best practices with real
world construction and operational experienc e. Burns
& Bouchard has experiene working with municipalities
of various sizes, including Culver City, Beverly Hills, and Los Angeles.

EAH
EAH Housing will provide property management
services for this development, bringing their extensive experience managing affordable housing communities
across California. Known for delivering top -tier service and support, EAH is committed to fostering thri ving,
sustainable neighborhoods that align closely with
WHCHC’s mission. This project marks our fourth
partnership with EAH, which currently manages Aloe
Palm Canyon and other housing communities, ensuring
residents benefit from stable, well -managed living
environments enriched with services.

California Construction Compliance /
Power 2 Workers – Labor Compliance

California Construction Compliance is a women owned
business and a registered SBE. We will partner with
Power2Workers on the jobs coordination.

Power2Workers has a proven track record on jobs
coordination across Southern California including on
several Project Labor Agreement projects (HHH PLA, LA
County CWA and Carpenters MOU). Power2Workers is
an approved Jobs Coordinator with Metro and has
partnered with California Construction Compliance on
over thirty (30) projects in Los Angeles County.

Power2Workers has a database of 1,821 participants
and is partnered with numerous workforce
development partners across the county including
Youthbuild and MC3 programs.

31 Jesse Slansky
WHCHC
President & CEO
25 Years Exp
Anup Patel
WHCHC
Dir. of Real Estate Dev.
12 years Exp
Joseph Craer
WHCHC
Sr. Project Manager
17 Years Exp
Patricia Rhee
EYRC
Partner in Charge
28 Years Exp.

Derek Leavitt
EYRC
Director of Housing
27 Years Exp.

Joe Varholick
EYRC
Project Manager
10 Years Exp.

Jonathan Lonner
Burns Bouchard
Founding Principal
30 Years Exp..

Josh Guyer
Burns Bouchard
Planning Director
7 years Exp.

Jack Wickersham
AMJ Construction
Management
President
25 Years Exp.

Erik Fernandez
AMJ Construction
Management
Project Manager
18 years Exp.

Magaret White
CA Construction
Compliance
President
25 Years Exp.

Magaret White
Power 2 Workers
Nonprofit
Hiring Local Forces
25 Years Exp.

Danny Pepper
WHCHC
Dir. Resident Services
15 Years Exp
Rachel Bacola
WHCHC
Interim Director of
Asset Management
6 Years Exp.

Auriana Melson
WHCHC
Asset Manager
15 Years Exp.

Legend:

Developer
Architect
Land Use Consultant
Construction Mgmt.

Labor Compliance
SBE Certified
DBE Certified
CBO Certified
C.3 - Development Team Chart
32 C.4 WHCHC Resume Bios
WHCHC’s housing development staff includes experienced project managers, finance professionals, and construction specialists, many of whom have over a decade of experience delivering affordable housing working in various municipalities, including West Hollywood Los Angeles, Gelndale, Long Beach and Palm Springs . The team has the technical expertise and availability to manage projects from concept through lease -up, and a strong track record of securing entitlements, layered financing, and community support. Together, WHCHC’s leadership and staff demonstrate the capacity and commitment necessary to complete high-quality, service-enriched housing developments at scale.

Under the leadership of President & CEO Jesse Slansky,
WHCHC has demonstrated a consistent ability to deliver
complex affordable housing developments. Mr. Slansky
brings over 25 years of experience in real estate
development. Since joining WHCHC in 2010, he has served as Director of Real Estate Development and was appointed
President & CEO in 2018.

During his tenure as CEO, WHCHC has completed seven
developments totaling 326 affordable homes for families, seniors, individuals with special needs, and formerly
homeless residents. An additional 520 units are currently in development across West Hollywood, Los Angeles, and Palm Springs. Mr. Slansky was instrumental in the design and community engagement strategy for Aloe Palm Canyon,
WHCHC’s first project in Palm Springs, and continues to provide executive oversight to ensure its on-time completion in summer 2025.

Jesse Slansky
President & CEO
WHCHC
33 Anup Patel has served as WHCHC ’s Director of Real Estate Development since 2022, leading transformative affordable housing projects across various municipalities including Los Angeles, Santa Monica, Palm Springs and Long Beach . With deep expertise in financial structuring, entitlements, and construction, he has delivered 92 new homes and secured financing for 269 more, including the landmark Aloe Palm Canyon in Palm Springs, where he closed a $7 million funding gap to keep the project on track for summer 2025.

Anup has also successfully led the financial closing of WHCHC ’s intergenerational community in Los Angeles, navigating the challenges created by the near collapse of Silicon Valley Bank.

He mitigated cost escalations during a hyperinflationary environment. Anup was able to secure gap financing of $4.7 million for Miramar Gold and $5.3 million for Third Thyme.

During mid-construction, Anup was able to secure an additional $3.77 million in proceeds to keep construction o n track and meet Placed In Service (PIS) deadlines.

Currently, Anup is advancing two family housing communities totaling 165 units and orchestrating the financial closing for a 94-unit development in West Hollywood. At Washington Palms, he is overseeing financial structuring and navigating the entitlement process —drawing on his track record of
successfully managing entitlements for six major affordable housing projects across the region.

Joseph Craer
Senior Project Manager
WHCHC
Joseph Craer serves as Senior Project Manager on WHCHC ’s Real Estate Development Team, where he oversees day -to-day development activities and supports projects from
predevelopment through construction. He is currently
managing the construction of Aloe Palm Canyon and will lead the development process for Juniper Mission.

Joe has played a key role in keeping Aloe Palm Canyon on schedule, including securing a critical $1.4 million grant to fund the project ’s solar energy system. His leadership has helped navigate complex construction challenges while maintaining steady progress toward a summer 2025 completion.

With a background in mechanical engineering and an MBA from Arizona State University, Joe brings over a decade of experience in design -build, urban infill, and large -scale residential development. He has held leadership roles in both boutique and corporate environments, with a consistent focus on problem - solving, contracts, procurement, and project management.

Joe’s technical skills, collaborative approach, and dedication to building communities make him well -equipped to lead the successful execution of Washington Palms.

WHCHC
34 Danny joined WHCHC in 2011 and became Director of Resident Services in 2013. Under his supervision, the resident services team supports WHCHC ’s diverse and expanding population toward independent living and improved overall health. Danny supervises a staff of 12 service coordinators, creates and implements innovative programs, and identifies supportive services partners. Danny and team work collaboratively with onsite property management.

His previous experience includes Program Manager at Being Alive, where he was a peer counselor, treatment advocate, and developed and implemented wellness programs for people living with HIV/AIDS. He has also worked in the legal department of the Los Angeles Free Clinic, facilitating workshops for low-income clients.

Danny holds a Juris Doctor degree from Western State College of Law. He currently sits on the Los Angeles Countywide HOPWA Advisory Committee (LACHAC) and participates on the Services Roundtable hosted by Enterprise Community Partners.

Danny Pepper
Director of Resident
Services
WHCHC
35 WHCHC Resume Bios
WHCHC’s housing development staff includes experienced project managers, finance professionals, and construction specialists, many of whom have over a decade of experience delivering affordable housing working in various municipalities, including West Hollywood Los Angeles, Gelndale, Long Beach and Palm Springs . The team has the technical expertise and availability to manage projects from concept through lease -up, and a strong track record of securing entitlements, layered financing, and community support. Together, WHCHC’s leadership and staff demonstrate the capacity and commitment necessary to complete high-quality, service-enriched housing developments at scale.

Jesse Slansky
President & CEO
WHCHC
36 Anup Patel has served as WHCHC ’s Director of Real Estate Development since 2022, leading transformative affordable housing projects across various municipalities including Los Angeles, Santa Monica, Palm Springs and Long Beach . With deep expertise in financial structuring, entitlements, and construction, he has delivered 92 new homes and secured financing for 269 more, including the landmark Aloe Palm Canyon in Palm Springs, where he closed a $7 million funding gap to keep the project on track for summer 2025.

Anup has also successfully led the financial closing of WHCHC ’s intergenerational community in Los Angeles, navigating the challenges created by the near collapse of Silicon Valley Bank.

He mitigated cost escalations during a hyperinflationary environment. Anup was able to secure gap financing of $4.7 million for Miramar Gold and $5.3 million for Third Thyme.

During mid-construction, Anup was able to secure an additional $3.77 million in proceeds to keep construction o n track and meet Placed In Service (PIS) deadlines.

Joe’s technical skills, collaborative approach, and dedication to building communities make him well -equipped to lead the successful execution of Washington Palms.

WHCHC
37 Danny joined WHCHC in 2011 and became Director of Resident Services in 2013. Under his supervision, the resident services team supports WHCHC ’s diverse and expanding population toward independent living and improved overall health. Danny supervises a staff of 12 service coordinators, creates and implements innovative programs, and identifies supportive services partners. Danny and team work collaboratively with onsite property management.

Danny Pepper
Director of Resident
Services
WHCHC
38 C4
2 ARCHITECT

QUALIFICATIONS &

EXPERIENCE
39 ARCHITECT S

EHRL ICH YANAI RHEE CHAN EY
eyrc.com

THE CULVER STEPS
Culver City, CA
This 115,108 square foot vibrant project responds
directly to the site, supports neighborhood
connection and seeks to create a place within the
heart of downtown that enhances the pedestrian
activity generated from the adjacent Culver studio,
restaurant- and art scenes. The project weaves into
the urban fabric by sensitive scaling and relating
to the surrounding brick and beige material
palette. Retail shops are strategically sized and
located to create particular shopping districts
that complement and enhance the existing retail
presence.

The extension of the existing Town Plaza into
the site is the primary urban gesture; a natural
meeting point, the large Grand Stair will activate
the existing Town Plaza and serve as a place for
residents and visitors alike to gather and view the
city from a new perspective.

Above the Grand Stair is the Elevated Plaza; a
vibrant urban oasis with the four-story Office
Building as a backdrop.
40 ARCHITECT S

EHRL ICH YANAI RHEE CHAN EY
eyrc.com
IVY STATION T.O.D.

OFFICES + RETAIL
Culver City, CA
Situated along the Metro Expo Line, this mixed-use
building engages a new public park and transit
plaza in the center of Culver City’s transit district.

The building features 175,000 sf of office space
over four levels that sit above 25,000 sf of ground-
level retail space.

Planned with sustainability in mind, the building’s
generous overhangs shield the park façade from
the southern sun. Likewise, the glass line is turned
away from the harsh western sun with a sawtooth
façade pattern that becomes integral to the
building’s identity.

The building is thoughtfully amenitized: roll-up
doors open the interiors to views of the park below,
allowing indoor-outdoor spaces on all levels. An
outdoor atrium offers “living rooms in the sky”:
furnished lounge areas dispersed across floors that
create a vertical amenity zone. A generous roof
deck is accessible form an external sculptural stair.
41 ARCHITECT S

EHRL ICH YANAI RHEE CHAN EY
eyrc.com

PENDRY WH HOTEL

AND RESIDENCES
West Hollywood, CA
The Pendry Hotel is a 149-key boutique hotel and
40-unit luxury condominium development that
creates a mixed-use urban oasis on a complex site.

The 4 ½ star hotel will be the flagship location for
the recently launched hotel brand (by Montage
Hotels and Resorts).

The Hotel Tower includes 6,000 square feet of
digital signage interwoven with its dynamic façade
and over 25,000 square feet of retail/food and
beverage space including 4 bars and 3 restaurants.

A lushly landscaped motor court “piazza” defines
the space between the hotel and condominium
towers with 40 luxury units, and provides access to
a 400 car / 7 story subterranean parking garage.

The project takes full advantage of its steeply
sloping site by stepping the building height as it
moves down the hill, and incorporating a series of
pool decks and private rooftop gardens all with
incredible city views.
42 PATRICIA RHEE, FAIA, DBIA, LEED AP

PARTNER

Role: Partner-In-Charge

PATRICIA RHEE BRINGS A UNIQUE DESIGN ABILITY COUPLED WITH DEEP EXPERIENCE IN PLACEMAKING THROUGHOUT A PLETHORA OF PROJECT TYPES; SHE IS PIVOTAL IN THE FORMATION OF OVERALL DESIGN VISION.

Education
Master of Architecture, Harvard
University Graduate School of Design
Bachelor of Arts, Design of the
Environment, University of
Pennsylvania
USC Ross Minority Program in Real
Estate, 2019
Qualifications
Registered Architect
California License No. 29173
Affiliations
American Institute of Architects,
Fellow
Culver City Chamber of Commerce
Board Member, Executive
Committee 2017-21
Culver City Women in Business
Committee 2016-25
Culver City General Plan Update
Technical Advisory Committee (Arts
& Culture)
Industry Advisory Group committee
member, Bureau of Overseas
Buildings Operations
U.S. General Services Administration,
National Registry of Peer
Professionals

Recognition
Experience
The Culver Steps Mixed Use Development, Culver City, CA Project Designer for the competition-winning design for a 115,000 sf project including a mix of civic, commercial and retail spaces in the heart of downtown Culver City.

Ivy Station Mixed-Use Office Building, Culver City, CA
Principal in Charge / Lead Designer for this mixed-use 250,000 sf office building adjacent to the light-rail Expo line and a public plaza space, with ground floor retail.

Stoneview Nature Center, Culver City, CA
Principal-in-Charge for the winning entry in a design-build competition through the County of Los Angeles.

The Willows Community School - Building 6, Los Angeles, CA Partner-in-Charge for the design of a 11,300 sf expansion that included new classrooms, collaborative learning areas, and an enhanced outdoor environment to support the school’s progressive K–8 program.

Pendry West Hollywood Hotel and Residences, Los Angeles, CA Design Principal for this 149-key boutique hotel and 40-unit luxury condo development on the Sunset Strip, a flagship location for the newly launched Pendry brand.

UC San Diego Theatre District Living and Learning Neighborhood, La Jolla, CA Concept Design and Schematic Design for this progressive design-build mixed-use neighborhood including 2,000 student beds, Academic Classrooms and Offices, a Conference Center, Hotel and Market Hall on a major campus thoroughfare.

Targeting LEED Gold.

California Association of Realtors Workforce Housing Mixed-Use Project, Los Angeles, CA Partner-in-Charge / Design Principal for a mixed-use project in Koreatown, combining affordable (workforce) for-rent and for-sale housing with office space.

Nankang Residential Towers, Taipei, Taiwan
Project Designer for a five-building high-rise, luxury residential complex in a transit-oriented development.

ProduceLA Office Building, Los Angeles, CA
Lead Designer for this 3 story shell+core building with retail on the ground floor.

Patricia Rhee is a Partner at Ehrlich Yanai Rhee Chaney Architects and has served as Partner in Charge and Lead Designer for several of the firm’s most challenging and award-winning projects including the Culver Steps and The Press adaptive re-use. Her project experience ranges from multi-family, to institutional, commercial and civic projects of all scales and delivery methods including Design-Build. She has completed the USC Ross Minority Program in Real Estate where she gained a deeper knowledge of real estate development. Patricia was a founding co-chair of the AIA Los Angeles Women in Architecture committee. She serves on numerous committees within the City of Culver City including the General Plan Update Advisory Committee and the Chamber of Commerce. Her deep roots in the community and the success of her local projects have established her as a leading voice on the future of architecture and development in the region. 43 JOE VARHOLICK, RA

ASSOCIATE

Role: Senior Designer
JOE’S DESIGN SENSIBILITY IS DRIVEN BY IDENTIFYING THE BEST SOLUTION FOR THE INTRICACIES OF SITE, PEOPLE AND PLACE. JOE’S FACILE, ITERATIVE APPROACH ALWAYS STARTS WITH LISTENING.

Education
Master of Architecture
Harvard University Graduate School
of Design, with Distinction
Bachelor of Architecture, Cal Poly
San Luis Obispo
Qualifications
Registered Architect, California
License C-39285
Honors
2017 Kevin V. Kieran Prize for Highest
Level of Academic Achievement,
Harvard GSD
2013 “One Prize” Competition
Finalist
2012 Cal Poly Archiprix Nomination
2012 Best of Show Award, Cal Poly
5th Year Thesis
2011 First Place Robert Hifumi Odo
Scholarship Design Competition, Cal
Poly San Luis Obispo

* while at AC Martin Architects
Experience
California Association of Realtors Workforce Housing Mixed-Use Project, Los Angeles, CA Project Designer for a mixed-use project in Koreatown, combining affordable (workforce) for-rent and for-sale housing with office space.

Confidential West LA Office Towers, Los Angeles, CA
Project team member for the double tower, 10-story office building with three levels of subterranean parking and two levels of surface parking to be finished in June of 2025.

The Press: Creative Office Campus, Costa Mesa, CA
Design team member for the adaptive re-use of the former LA Times printing press facility, a 400,000 sf structure into creative office.

Barranca Parkway Office Campus, Irvine, CA
Lead Designer for this new creative office campus that includes a ground up 270,000 sf shell + core office building surrounding an internal courtyard.

Catalyst Creative Office, El Segundo, CA
Project Architect (Design Team) for this adaptive re-use and ground up shell + core development across two city blocks in a revitalizing neighborhood.

Redhill Creative Office, Tustin, CA
Project Designer and Manager for this 200,000 sf creative office campus including the renovation of existing buildings.

Airspace, Tustin, CA
Design team for this renovation and exterior refresh of a tired office building into a new multi-tenant creative office complex, with a landscape connection between the two buildings on the site.

Genesis Design Studio, El Segundo, CA
Senior Designer for this “next-generation workplace” and showpiece for the Genesis brand, imagined as an open and fluid series of domestic-scaled, activity-based work environments surrounded by a flexible and porous courtyard that can be opened up and closed down to the public as functionally necessary.

Wilshire Grand Tower, Los Angeles, CA*
Design team for the tallest building on the west coast, contributed to the public plaza, podium and iconic skylight element.

South Park Residential Tower*
Design team for this high-rise residential tower, retail and open space project to help revitalize a historically neglected neighborhood.

*While with AC Martin Architects

Joe is an Associate at EYRC Architects and a member of our team since 2017. He’s been integral on the conceptual design for a range of projects including two multifamily projects, an office campus master plan and a large-scale adaptive re-use project. Previously with AC Martin, Joe was a key team member on the Wilshire Grand office and hotel tower. His ability to translate high-level design ideas into developed pragmatic solutions is a true asset to the team. In addition, Joe uses a wide range of skills and tools from traditional hand sketching to BIM, rendering, and parametric software to investigate design ideas - his quick, iterative design thinking is highly collaborative and engages clients in an authentic and open way.

44 Education
Master of Architecture, Harvard
University Graduate School of Design
Bachelor of Arts, Design of the
Environment, University of
Pennsylvania
USC Ross Minority Program in Real
Estate, 2019
Qualifications
Registered Architect
California License No. 29173
Affiliations
American Institute of Architects,
Fellow
Culver City Chamber of Commerce
Board Member, Executive
Committee 2017-21
Culver City Women in Business
Committee 2016-21
Culver City General Plan Update
Technical Advisory Committee (Arts
& Culture)
Industry Advisory Group committee
member, Bureau of Overseas
Buildings Operations
U.S. General Services Administration,
National Registry of Peer
Professionals

Recognition
Distinguished Alumna Award, The
Bryn Mawr School, Baltimore, MD,
Experience
The Culver Steps Mixed Use Development, Culver City, CA Project Designer for the competition-winning design for a 115,000 sf project including a mix of civic, commercial and retail spaces in the heart of downtown Culver City.

Stoneview Nature Center, Culver City, CA
Principal-in-Charge for the winning entry in a design-build competition through the County of Los Angeles.

Targeting LEED Gold.

Nankang Residential Towers, Taipei, Taiwan
Project Designer for a five-building high-rise, luxury residential complex in a transit-oriented development.

Hancock Apartment Tower, Hancock Park, CA
Principal-in-Charge/Design Principal for a competition-winning design for this 132-unit multifamily rental building adjacent to the historic El Royale apartment building and Wilshire Country Club.

ProduceLA Office Building, Los Angeles, CA
Lead Designer for this 3 story shell+core building with retail on the ground floor.

DEREK LEAVITT, RA

DIRECTOR OF HOUSING

Role: Project Manager

DEREK LEAVITT IS DRIVEN TO DELIVER HIGH-LEVEL LEADERSHIP & ORGANIZATIONAL EXCELLENCE ON EVERY PROJECT, ALWAYS STRIVING FOR FINANCIAL SUCCESS AND TIMELY EXECUTION.

Education
Bachelor of Architecture, Minor in
Business Administration, University
of Southern California.

Qualifications
Registered Architect California
License No. C31212
Licensed General Contractor, CA
Class B License Number 1066382
Affiliations
Urban Land Institute (ULI) Multiple
Committees and Councils, 2023-
Present
Building Industry Association (BIA):

LA/Ventura Board President, 2019;
LA/Ventura Board Member, 2017-
2023
Windward High School Alumni
Council: Member, 2016-2024
USC Alumni Real Estate Network:

Board Member, 2017-2018
Experience
17th St / SMC Station Joint Development Metro Proposal, Santa Monica, CA Co-led the design team for a proposal of a 281-unit affordable mixed-use development on three adjacent sites, serving as a multimodal hub for the 17th St / SMC E Line Metro Station.

Foothill and Chorro, San Luis Obispo, CA
Project manager for a study of 868 student beds, 72 market-rate apartment units, and 39,000 sq. ft. of retail as part of a P3 mixed-use project servicing the nearby Cal Poly San Luis Obispo campus.

WeHo 12 on Crescent Heights, West Hollywood, CA*
Principal-in-Charge of a luxury twelve-unit apartment building over a subterranean parking garage. The building’s design incorporates material change and massing to break down its overall scale and provide each unit with a unique identity. All flat and townhouse-style layouts offer ample private outdoor space and the benefit of natural ventilation.

Wilshire Rimpau Townhomes / The Sevens, Los Angeles, CA* Principal-in-Charge for seven townhomes in the Park Mile district of Hancock Park that reflect the protected architectural style of this highly sought-after neighborhood while introducing a fresh, modern aesthetic. Each home features three or four bedrooms, a direct two-car garage, and a rooftop terrace offering panoramic views of the mountains and city.

Ave 57 Art District Dwellings, Los Angeles, CA*
Principal-in-Charge for a five-townhome project inspired by the Arroyo Arts & Crafts movement in the Highland Park neighborhood. These homes are designed for creative individuals, featuring a space-saving car lift to stack the parking to create an ample ground-level artist’s studio. The exterior of the building reflects the two different interior uses with a dark siding living volume clearly delineated above a double-height white stucco volume for art. Derek’s company was responsible for the project’s architecture, construction, and development.

Venice Boulevard Urban Dwellings, Los Angeles, CA*
Principal-in-Charge for four duplexes consisting of two or three-bedroom units above a ground-floor studio and one- bedroom apartment. This project aimed to create a new kind of residential environment in Los Angeles that incorporates the city’s frequently overlooked commercial boulevard, specifically Venice Boulevard. By minimizing setbacks and incorporating large windows, the design creates an engaging and interactive urban streetscape for both pedestrians and vehicles passing by. Derek’s company was responsible for the project’s architecture, construction, and development. *While at Modative, Los Angeles, CA

Derek joined EYRC Architects in 2023 and is a seasoned architectural professional with 25+ years of architecture, construction, and real estate development expertise.

Previously an entrepreneurial Co-Founding Principal of Modative and Executive at United Dwelling, Derek has a wealth of experience in the industry. He is passionate about innovating solutions to address the pressing housing crisis in California and beyond. Derek is an expert in Volumetric Modular Construction and has spoken on this subject at local and national events.

45 7474 North Figueroa Street, Suite 250, Los Angeles, California 91041

INTRODUCTION
Established in 2011, AMJ Construction Management, Inc. (AMJ) is dedicated to excellence through proven experience, integrity, and superlative service. We provide value-added services to our clients by creating a unique, trust- based partnership throughout the entire construction process. Our pledge is to establish lasting relationships with our customers by exceeding their expectations through exceptional performance by every member of our team, resulting in successful outcomes with every project.

COMPANY HISTORY
AMJ’s expertise comes as a result of over 7 5 years of combined experience amongst the firm’s principals. Our experience spans the architectural, engineering and construct ion/project management industries , including work in residential and commercial structures, large civil developments, utility generation and transmission, and transportation infrastructure.

AMJ’s clients include public agencies, private corporations, and not -for-profit organizations.

Among the client -types, AMJ has successfully managed a diverse range of projects from the historic renovation of individual Hollywood bungalows to the new construction of 200+ uni t master-planned developments, located from San Diego to San Francisco. T he professionals at AMJ are well-versed in managing multiple project types on fixed budgets and tight construction schedules. AMJ’s scope of services are customized to fit each client to ensure that every detail is considered, and the client can feel confident in having an experienced Owner’s Representative to manage their construction program from beginning to end.

COMPANY STRUCTURE
AMJ is boutique consulting firm with a dedicated staff of Principals, Project Managers and Engineers. With a mission to deliver high -caliber construction management services and a passion to support development throughout the State of California, the professionals at AMJ have delivered over two hundred (200) residential projects.

Please direct all questions and/or concerns to:

Mr. Jack Wickersham
7474 N. Figueroa Street, Suite 150
Los Angeles, California 90041
Phone (213) 392-0972
E-Mail [email protected]

46 RELEVANT PROJECT EXPERIENCE
The AMJ Construction Management team works proactively with developers to complet e their multifamily residential project within a timeline that meets their needs. Primarily consisting of new construction, renovation/rehab, and adaptive re-use projects, our multifamily construction management ranges from affordable to market rate , housing to hospitality. Each multifamily residential project presents a unique set of challenges, including lending requirements, construction scheduling, local compliance approvals, and various product types.

Throughout the entire construction process, we work closely with the architect and various consultants, making key decisions for effective and efficient cost management. This includes using knowledgeable and experienced cost estimators on staff that utilize our vast historical database, which provides accurate cost expense forecasting at critical design milestones. These timely design decisions, coupled with accurate cost estimating, are critical to successful project outcomes for our clients.

Because we are involved in construction management from inception to lease -up, we can provide critical value -added services at virtually every stage of the development lifecycle. In addition, we utilize our industry connections to bring together a network of proven professionals who are uniquely qualified to su ccessfully deliver a specific product type.

Throughout each project phase, our experience in proactive, effective scheduling and cost management plays a key role in tracking overall progress, delivery date forecasting, and in assessing the potential for project acceleration to meet deadlines.

ERIK FERNANDEZ
Project Manager
With over seventeen years of dedicated experience in the construction industry, Erik has cultivated a comprehensive expertise across a diverse range of project types. His professional journey encompasses single and multi-family residential developments, commercial ventures, mixed-use projects, hospitality establishments, retail build-outs, tenant improvements, and educational facilities.

Erik's dynamic career trajectory underscores his versatility and adaptability within the construction domain. His multifaceted experience equips him with a holistic perspective, enabling him to tackle diverse challenges with confidence and proficiency. With a steadfast commitment to excellence and a proven track record of success, Erik continues to be a driving force in shaping the built environment, delivering impactful projects that stand as testaments to his unwavering dedication and expertise.

Joining AMJ in 2020, Erik has been instrumental in the pre-construction and construction management of over twenty multifamily residential affordable housing projects as well as mission driven charter schools.

Education
B.S., Construction Management, University of Washington, 2004 47 BURNS & BOUCHARD, INC. 9619 NATIONAL BOULEVARD, LOS ANGELES, CA 90034

Company Overview

Burns & Bouchard is a boutique planning, community outreach, and government a9airs ﬁrm specializing in creative solutions to complex urban planning and municipal issues. B&B was founded in 2009 and is a State of California recognized S Corporation lead by founder Jonathan Lonner.

Burns & Bouchard assists local retailers, charter and private schools, small builders, national development entities, REITS, municipalities, and nonproﬁts with all aspects of the development process including government a9airs, community relations, entit lement and approval, permit processing, and construction troubleshooting. O ur knowledge of commercial and residential development spans from tenant improvements and permitting, to midsize remodels , to ground up construction of all sizes including full sca le master planning e9orts and high rise.

Since opening B&B has represented and still represents a broad range of clients including Douglas Emmett, Markwood Enterprises, Otis College of Art & Design, Amoroso Development Companies, Related California, Festival Companies, Mar Ventures, Sares Regis Group, Venice Community Housing Corporation, City Charter School, Brentwood School, Berggruen Institute, and many more. These clients have utilized Burns & Bouchard for services including p ermitting, entitlements, community outreach, government a9airs, and project management. All have successfully garnered appropriate permits and approvals or are on their way. This multifaceted practice combines a core of urban planning and development best practices with real world construction and operational experienc e.

Having the technical knowledge to both initiate and complete these varying aspects of projects elevates B&B’s ability to do successful community outreach as well.

Burns & Bouchard sta9 includes Founding Principal Jonathan Lonner, Managing Director David Zohn, Josh Guyer, and Steven Sharp. The o9ice is located in Palms, California.

48 BURNS & BOUCHARD, INC. 9619 NATIONAL BOULEVARD, LOS ANGELES, CA 90034

Jonathan Lonner
Founding Principal

Jonathan Lonner , oversees predevelopment, project management, permitting, and entitlement clients for Burns & Bouchard, Inc. He is recognized as an expert in his ﬁeld and his advice and guidance has led to the approval of millions of square feet of developed projects across Southern California.

Prior to forming Burns & Bouchard Mr. Lonner opened and led a Southern California o9ice for USA Properties Fund Inc., a Roseville based tax credit builder, to increase their reach into local acquisition and development. Previously, Mr. Lonner worked as th e Vice President of Development for Lee Homes where he handled the predevelopment activities of the ﬁrm including land acquisition, entitlements, public/private partnerships, ﬁnancing, project management as well as sales and marketing. At Lee Homes, Lonn er assisted with the entitlement of over 1,000 residential units as well as multiple mixed use and commercial projects.

Prior to joining Lee Homes, Mr. Lonner was the Director of Planning and Public A9airs for Garcia, McCoy, and Lee Consulting Group, a land use and public a9airs ﬁrm founded by partners Dan Garcia, Lucy McCoy, and Mee Hae Semcken. Mr. Lonner met the futu re partners of GML while employed as editor of two Southern California’s premiere monthly publications – The Planning Report and Metro Investment Report . Both periodicals cover land use, housing, public investment, and related issues of governance and poli tics in Southern California.

Mr. Lonner holds a Bachelor of Science in Design from Arizona State University and graduated with honors from the University of Southern California with a Master of Urban Planning and a Master of Public Administration. Mr. Lonner received a Merit Award from the California Planning Foundation, Certiﬁcate of Merit for Leadership from USC and was recognized by the Anti-Defamation League for completion of its Salvin Leadership Institute.

Mr. Lonner is a two -time past President of the Building Industry Associa tion’s Los Angeles/Ventura Section, a past Chair of the LAX Coastal Chamber of Commerce.

The Burns & Bouchard family of companies is made up of three separate businesses spanning land use, stakeholder outreach, lobbying, public a9airs, crisis communications, issues advocacy, and campaign management. Combined, Burns & Bouchard, Neighborhood Forward, and Pivotal Strategies are united by culture and a common purpose to ﬁnd unique solutions for our clients.

49 BURNS & BOUCHARD, INC. 9619 NATIONAL BOULEVARD, LOS ANGELES, CA 90034

Josh Guyer
Director of Planning

Mr. Guyer is an experienced land use professional who manages planning and entitlement e9orts on a wide range of complex public and private development projects. Since joining Burns & Bouchard, Inc. in 2017, Mr. Guyer has focused on securing land use enti tlements from the City of Los Angeles and surrounding municipalities which anticipate future hurdles posed by other agencies involved during the plan check and permitting processes.

Prior to joining Burns & Bouchard, Inc. Mr. Guyer was with Cerrell Associates, working with the ﬁrm’s Local Government, Campaigns and Issues Management, and Energy & Environment teams. There he gained a comprehensive understanding of community outreach strategies, public policy issues, and local government regulatory compliance.

Mr. Guyer holds a Bachelor of Science in Policy, Planning, and Development from the University of Southern California. Away from the o9ice, Mr. Guyer enjoys skiing, is a longtime member of the American Numismatic Association and U.S. Masters Swimming.

50 Margaret White, President
Margaret has twenty years of experience in the
construction industry. She recently obtained her Class B General Contractors License and is an innovator, an
assertive player with a positive attitude. She brings
purpose into her work, including the projects she builds.

Margaret takes great pride in supporting others to meet their goals and has a proven track record of creating and nurturing career paths of others over the course of many years.

As president of California Construction Compliance and Power2Workers, Margaret is responsible for developing
and overseeing the implementation of local hire
programs and ensuring project compliance. She assists
developers in presenting, reviewing and negotiating local hire and Minority & Women Owned Business target
programs. She works with general contractors to draft
subcontract compliance exhibits and ensure
subcontractors remain in compliance with all federal and state prevailing wage regulations. She oversees local hire and labor compliance , to ensure all parties succeed in their roles and ensures processes are clear and easy to understand. Margaret has created many jobs for local residents on various affordable housing projects within the City and County of Los Angeles.

Margaret began her work in an administrative capacity and has grown into senior project management with a strong focus in workforce development and local hire. In her spare time, she teaches pre - apprenticeship, spends time hiking and enjoying Los Angeles with her family. She has held these positions with Cobalt Construction Company, a large multi family general contractor, CIM Group, Cannon Constructors South, another large multi family developer and Factory_OS, a modular housing factory located in Northern California.

Margaret has her LEED AP certification. She acts in an advisory role to several workforce organizations including Maxine Waters Employment Center and Career Expansions, a pre -apprenticeship training partner.
51 VISION

PROJECT

52 SECTION D1: PROJECT VISION
Washington Palms is a 67-unit mixed-use development
that prioritizes 100% affordable housing with a focus on local educators, complemented by ground -level artist
lofts that cultivate a creative, connected community. At the heart of this project is a n art center that promotes cultural exchange, walkability, and vibrant street life.

Aligned with the city’s goals, the project provides much - needed affordable homes near four Culver City Unified
School District campuses, promoting convenience for
teacher and administrative staff residents. Its location, a block from Tellefson Park, supports increased housing
density within a thoughtfully massed, community -serving structure. The ground floor activates the streetscape with a gallery storefront and artist alcoves, establishing a vibrant cultural hub that complements nearby
destinations like Millcross Coffee Bar & Kitchen. Multiple indoor and outdoor gathering spaces foster community
engagement at all levels.

Our design draws inspiration from the historic Culver
Hotel, with its distinctive wedge -shaped design and
Renaissance Revival style. Our building redefines the
streetfront with a modern flair, characterized by
symmetry, classical details, and eye-catching proportions.

The massing responds to the site’s angled geometry with two single -loaded residential wings, stepping down to
integrate smoothly with the residential neighborhood.

The Washington Boulevard wing is articulated with a
clearly defined base, middle, and top that ground the
building within its context. Its simple yet elegant form is animated by a finely articulated façade, breaking down
the scale of the building and adding depth and rhythm to enrich both the streetscape and the pedestrian
experience.

At street level, the design puts people above cars, creating a warm and welcoming environment for neighbors,
artists, and visitors. The artist alcoves help activate the sidewalk, while the gallery anchors the corner as a vibrant cultural hub. Towering double -height glass panels invite casual strollers inside the dynamic gallery. Artist loft porches extend onto Washington Boulevard as intimate,
semi-private spaces where artists di splay their work,
blending personal expression with street -level
engagement. To support this pedestrian -friendly setting, a well -placed rideshare and delivery driveway on Huron Avenue ensures smooth drop -offs and pickups, reducing
congestion and maintaining safe, uninterrupted
pedestrian flow along Washington Boulevard.

Our proposal introduces a ground -floor community art
center that is intentionally designed to activate the public realm and serve as a neighborhood anchor. Featuring
double-height ceilings, a mezzanine, and flexible spaces for exhibitions, workshops, and performances, the center creates a vibrant environment that draws both residents and visitors . Its prominent location on a visible street corner ensures constant activity, while transparent
façades and abundant natural light enhance the sense of openness and invite people inside. Universal ADA design standards, family -friendly amenities, and multilingual signage further reinforce accessibility and equity, ensuring the benefits extend to all members of the community.

53 D.2 CITY GOALS
Washington Palms is a dynamic mixed -use development
that combines housing, art, and community life to create a civic landmark that advances the City’s goals. The project delivers high -quality mixed -income housing while
activating the ground floor with comp lementary cultural and live/work uses that strengthen neighborhood vitality and long-term community benefit.

At its core, a n art center anchors a prominent street
corner, functioning as both a public gathering place and cultural hub. Its double -height glazed façade ensures
visibility and energy, while flexible gallery and event space provide a home for exhibitions, workshops, and cultural programming. Ground-floor artist lofts introduce a
distinctive public -private model: adding housing supply while directly engaging the street through studios that double as workspaces and storefronts, allowing artists to create, showcase, and interact with the community.

Together, these ground -floor components advance the
City’s objectives for commercial activation, inclusive
placemaking, and community-serving space.

The art center’s programming is designed for broad
impact. Rotating exhibitions will celebrate local creativity and the neighborhood’s cultural heritage, while free and affordable classes for children, youth, seniors, and
families expand access to arts education. Structured and organic partnerships with schools, nonprofits, and arts organizations will extend opportunities for mentorships and creative career pathways, aligning the space with
long-term community development and economic
inclusion goals.

Beyond arts and education, the gallery will serve as a
community commons —hosting cultural celebrations,
public dialogues, wellness workshops, and art therapy
programs. These offerings foster social connection,
mental well -being, and equity, ensuring that t he space serves not only as a cultural destination but also as a holistic community benefit.

By combining housing with activated ground -floor art
spaces, Washington Palms transforms the site into more
than a building —it becomes a civic anchor that animates the streetscape, fosters safety and pride, and strengthens Culver City’s identity as a hub f or creativity and inclusive community life.
54 D3. ENTITLMENTS APPROACH
The Project is designed to align directly with the City’s adopted planning framework while advancing
longstanding policy priorities to expand housing access. In April 2025, the City adopted its updated Density Bonus
and Other Incentives (DOBI) Ordinance, a mending the
zoning code to ensure consistency with the California
Government Code and to implement its recently certified Housing Element. A critical policy goal of the revised DOBI and Housing Element is to facilitate affordable, transit - oriented housing production in Culver City.

The Project site is immediately served by multiple Culver City bus lines, including Line 1 (with direct access to Metro’s E Line/Expo) and Line 5C1. Its location offers
residents convenient connections to schools, jobs, and
regional transit, perfectly alig ning with City and State policy emphasis on reducing auto dependence and
supporting climate-friendly development.

The Land Use Element of the General Plan similarly further reinforces these priorities. The Washington Boulevard
property, formerly designated for General Commercial
uses, is now mapped as Mixed Use Corridor 1 (MU-1). This re-designation explicitly signaled the City’s intent to transform major corridors into vibrant, mixed-use districts with expanded housing opportunities—precisely the type
of redevelopment the Project represents.

Within the MU-1 zone, the maximum residential density is restricted to 35 units per acre, a 2:1 FAR, a maximum
height of 56 feet, and modest setback requirements.

Applied to this parcel (12,084 square feet), those
standards would yield a project of approx imately nine
units and 24,000 square feet of floor area. By utilizing the City’s updated DOBI Ordinance, Washington Palms will
significantly advance City policy objectives by
accommodating 67 affordable dwelling units—a sevenfold
increase—without requirin g any legislative action by the City Council.

55 D.4 -D.6

ARCHITECTURAL
PLANS
56 Washington Palms

08.27.2025
Community-Centric Design
Washington Palms is a 67-unit mixed-use development that prioritizes 100% affordable housing with a focus on local educators, complemented by ground-level artist lofts that cultivate a creative, connected community. At the heart of this project is an art center that promotes cultural exchange, walkability, and vibrant street life.

The project employs off-site modular construction
to accelerate delivery, improve quality, and minimize
neighborhood disruption.
57 Washington Palms

08.27.2025
Project Data Summary
Building Area-
Commercial Gallery: 1800 SF
Residential: 55,400 SF
Total Building Area: 57,200 SF
Height- 86’ (top of parapet)
# Floors- 8

Unit Count
1 BR (600 sf ea.):

Artist Loft (1,000 sf ea.):

Total Unit Count:

Provided Parking
No Vehicle Parking
74 LT bike, 12 ST bike
7-Story Residential Bar
Open-Air ‘Single-loaded’
Circulation at Site Interior
Community Room
Commual terraces
Lobby and Gallery
6-Story Residential Bar
Over 2-Story Artist Lofts
(8 Stories total)
Massing is divided
into legible Base,
Middle, and Top
Each 1-BR unit is
comprised of two
modules
Artist Lofts with Private
Entry at Street Level
Open Space
Required Open Space
150 SF/unit x 67 units = 10,050 SF

Provided Open Space
Private
34 units w/ 60 SF Balconies ea.: 10,050 SF

Common
Exterior Common Open Space: 5600 SF
Exterior adjacent Community Space: 2300 SF

Place Making
Our design draws inspiration from the historic Culver Hotel, with its distinctive wedge-shaped design and Renaissance Revival style. Our building redefines the streetfront with a modern flair, characterized by symmetry, classical details, and eye-catching proportions.

The massing responds to the site’s angled geometry with two single-loaded residential wings, stepping down to integrate smoothly with the residential neighborhood. The Washington Boulevard wing is articulated with a clearly defined base, middle, and top that ground the building within its context. Its simple yet elegant form is animated by a finely articulated façade, breaking down the scale of the building and adding depth and rhythm to enrich both the streetscape and the pedestrian experience.
62 5
67 58
Washington Palms

08.27.2025







10’-0”
1-Bedroom Unit, Typical
Exit Stair
Elevator
Service
Trash/Recycle
Communal Terrace
Lobby/Community Art Center
Artist Loft, Typical
Accessible Artist Loft
Private Yard
Egress Court
Bike Storage
Vehicle Loading
Gallery Spill Out

1. 2.

3. 4.

5. 6.

7. 8.

9. 10.

11. 12.

13. 14.

A Vibrant Ground-Plane
At street level, the design puts people above cars, creating a warm and welcoming environment for neighbors, artists, and visitors. The artist alcoves help activate the sidewalk, while the gallery anchors the corner as a vibrant cultural hub. Towering double-height glass panels invite casual strollers inside the dynamic gallery. Artist loft porches extend onto Washington Boulevard as intimate, semi-private spaces where artists display their work, blending personal expression with street-level engagement.

To support this pedestrian-friendly setting, a well-placed rideshare and delivery driveway on Huron Avenue ensures smooth drop-offs and pickups, reducing congestion and maintaining safe, uninterrupted pedestrian flow along Washington Boulevard. 2 2
1 3
9 4
5 7
8 10
12 14
13 11
0ft 10ft 20ft 40ft
site plan
The Culver Hotel, located on a triangular lot,
features articulated façades with a clear base,
middle and top.

City place live-work lofts, EYRC Architects
Perspective Elevation as experienced from the Washington Blvd.

Washington Blvd.

Huron Ave.
59 Washington Palms

08.27.2025
Level 2 Level 3
floor plans
DN
UP DN
1-Bedroom Unit, Typical
Exit Stair
Elevator
Service
Trash/Recycle
Communal Terrace
Lobby/Community Art Center
Artist Loft, Typical
Accessible Artist Loft
Management Offices

1. 2.

3. 4.

5. 6.

7. 8.

9. 10.
0ft 10ft 20ft 40ft
2 2
2 2
1 1
1 3
3 9
4 4
5 5
6 6
6 7
8 10
60 Washington Palms

08.27.2025
Level 8 Level 4-7
2 2
2 2
1 1
1 3
3 4
4 5
5 6
7 8
floor plans
0ft 10ft 20ft 40ft
1-Bedroom Unit, Typical
Exit Stair
Elevator
Service
Trash/Recycle
Communal Terrace
Community Room
Roof Deck

1. 2.

3. 4.

5. 6.

7. 8.

61 Washington Palms

08.27.2025
1 BEDROOM TYPICAL UNIT LAYOUT ARTIST LOFT - TYPICAL LOWER LEVEL ARTIST LOFT - TYPICAL UPPER LEVEL 14' - 0" 7' - 0" 7' - 6"
29' - 6"
10' - 2" 10' - 2"
21' - 0"
Bedroom
10’ 2” x 13’ 11”
Living Room
10’ 2” x 16’ 2”
Kitchen
10’ 2” x 13’ 4”
W-I-C
5’ 0” x 7’ 0”
Bathroom
10’ 2” x 7’ 6”
0ft 5ft 10ft 20ft
16' - 5"
29' - 6 1/2"
21' - 1"
10' - 9" 2' - 0" 7' - 5 1/2"
9' - 3 1/2"3' - 0"
Bathroom
7’ 5” x 9’ 3”
Bedroom or
Studio
11’ 7” x 16’ 5”
Bedroom
13’ 2” x 9’ 3”
DN
DN
13' - 3"
8' - 3"5' - 3"15' - 2 1/2"
29' - 6 1/2"
7' - 4"
21' - 1"
Living Room
17’ 6” x 15’ 3”
Kitchen
13’ 3” x 14’ 0”
Powder room
7’ 4” x 8’ 4”
UP
62 Washington Palms

08.27.2025
Community Art Center
Our proposal introduces a ground-floor community
art center that is intentionally designed to activate
the public realm and serve as a neighborhood anchor.

Featuring double-height ceilings, a mezzanine,
and flexible spaces for exhibitions, workshops, and
performances, the center creates a vibrant environment
that draws both residents and visitors. Its prominent
location on a visible street corner ensures constant
activity, while transparent façades and abundant natural light enhance the sense of openness and invite people
inside.

Community Art Events Artist Gallery Shows
63 Washington Palms

08.27.2025
64 PROJECT &

RESIDENTIAL

CONCEPT

D.7 - D.13
65 D.7 & D.8 RESIDENTIAL PROGRAM & LONG-TERM AFFORDABILITY Washington Palms will deliver 67 homes to workforce
households earning up to 80% of the Area Median Income
(AMI). Twenty -five percent of the total homes will be to extremely low-income households earning 30% AMI. The
project provides five artist lofts, each with a massing over 1000 square feet along Washington Boulevard.

After our buildings are completed, WHCHC maintains a
high standard of asset management and takes pride in the way that these communities enhance the neighborhood
in which they exist. Our Asset Management team actively manages a portfolio of 23 100% affordable communities.

EAH, our property manager, ensures our communities are
safe, sustainable, and well managed through proactive,
high-quality maintenance and responsive collaboration
with residents and local jurisdictions. Our properties are maintained with an Enhanced Preventive Maintenance
Program (PMP) that regularly tracks inspections and
servicing of building systems.

UNIT SIZE % AMI # %
SQ
FT
One Bedroom 30% 17 26% 600
One Bedroom 60% 24 36% 600
One Bedroom 80% 20 30% 600
Two Bedroom 80% 5 8% 1,000
Manager 1 600
Average AMI 60%
Total 67 100%
66 D.9 RESIDENTIAL SERVICES

At WHCHC, housing is only the beginning. For more than
three decades, our Resident Services Department (RSD)
has set the standard for housing by delivering free and voluntary on‑site programs that empower residents,
promote independence, and create vibrant, connected
communities. We operate from a deeply held belief that a stable, high ‑quality home, paired with robust and
accessible services, provides the foundation for lasting personal and community wellbeing.

We assess their needs, link them to critical resources, and provide lifelong learning and cultural enrichment
programs. We have a dedicated team of full -time
professionals who are staffed on-site at our communities.

Linguistically and culturally competent services are
customized for each property. Critical resources include physical and mental health, transportation, food, benefits, rental assistance, and other supportive services. WHCHC identifies external collaborative partners to maximize
impact and to s trengthen outcomes for residents. This
coordination results in services that are delivered in a truly seamless fashion rather than a series of referrals and
hand-offs from one service provider to another. Programs and partners provide support to all residents.

Our resident services model is built for sustainability, funded through a diversified blend of WHCHC’s operating budget, multi-year service contracts, and competitive
philanthropic grants. This financial strategy ensures
programs are protected from short term funding cycles
and remain a permanent feature of every WHCHC
community. Our programming is informed and refined
through annual resident surveys.

67 D.10 SUSTAINABILITY
The project employs off -site modular construction to
accelerate delivery, improve quality, and minimize
neighborhood disruption. As with all of our newly built communities, WHCHC is committed to achieving
ambitious sustainability standards. Washington Palms will be built to LEED for Homes Gold certification, featuring an all-electric design, enhanced energy efficiency, healthy indoor environments, and climate-adaptive landscaping—
all of which support long-term affordability. By adopting a 100% all-electric design and exceeding California’s energy code, the project will significantly reduce greenhouse gas emissions and long-term operating costs.

Residents will benefit from healthy living environments through the use of non -toxic finishes, superior indoor air quality measures, and energy - and water -efficient
systems that lower utility bills. Outdoor spaces will be climate-adaptive, incorporating drought -tolerant and
native plantings conserv ing water while creating
comfortable, livable places that withstand rising
temperatures.

The project will reduce energy use, water demand, and
carbon emissions beyond baseline requirements —
delivering healthy, resilient, and cost-efficient homes that support environmental responsibility and long -term
affordability.

68 D.10 LOCAL HIRING
WHCHC is proud to partner with Power2Workers to make local hiring a cornerstone of this project. Together, we will create pathways for area residents to secure good -paying
construction jobs, prioritize local apprenticeships, and ensure neighborhood workers gain access to long-term careers in the building trades. By emphasizing local hire, we strengthen the community’s economic base, reduce barriers to entry, and generate direct benefits for residents living closest to the project.

To reinforce this commitment, the team will also prioritize procurement from minority -owned, small, and diverse local businesses. At least 10% of pre -development costs will be directed to certified SBE, DBE, and DVBE firms, supported by our partner Califor nia Construction Compliance, a Metro - certified SBE/DBE firm with more than 22 years of experience helping diverse contractors succeed. Their expertise will ensure local and diverse participation goals are met or exceeded.

Beyond immediate job access, our approach builds long -term capacity. We host workshops on business certification, bidding strategies, contracts, bonding, insurance, mobilization, and access to capital —equipping local contractors with the tools needed to scale and compete. Delivered in partnership with local Chambers of Commerce and community organizations, these programs strengthen the pipeline of local businesses and workers actively engaged in the project.

By combining local hir ing, apprenticeships, and robust contractor mentorship, we ensure the project delivers lasting community benefit: creating jobs for local residents today, while fostering the skills, capacity, and business growth that sustain opportunity for years to come.

69 D.11 PROJECT UNIQUE FEATURES

The Washington Palms project thoughtfully leverages the site’s unique angled geometry to enhance both the building’s form and its relationship to the neighborhood. The design employs strategic setbacks and varied materials to gracefully mask the building’s density, breaking down scale and creating a sense of human proportion that integrates seamlessly with the surrounding residential context.

A key architectural feature is the two single-loaded residential wings that step down along Huron Avenue, softly transitioning the massing to adjacent homes and providing a visually
dynamic façade. Along Washington Boulevard, the building is articulated with a defined base, middle, and top, grounded by richly textured materials that add depth and rhythm, fur ther enriching the pedestrian experience.

Most notably, the artist lofts at street level serve a dual purpose as both living quarters and creative workspaces, activating Washington Boulevard with vibrant, semi -private porches where artists can display their work. These lofts extend onto the sidewa lk, encouraging interaction between residents and the larger community and transforming the streetscape into a lively cultural corridor.

Further activating the corner, the project features a dynamic ground-floor community art center —a true neighborhood
anchor. With double-height ceilings, flexible event spaces, and transparent, light-filled façades, the center promotes cultural exchange. This integration of arts and culture as foundational elements in affordable housing demonstrates our
commitment to building high quality homes but also to
strengthening community identity and fostering long -term social cohesion —a distinctive vision unmatched by
conventional affordable housing proposals.

70 D.12 & D.13 COMMUNITY OUTREACH
WHCHC shines in nurturing positive community engagement in small jurisdictions, especially in affluent and active communities like the C ulver City . Our approach revolves around fostering mutual respect and creating a platform for community stakeholders to voice their ideas and concerns.

When we expand to new cities, we collaborate closely with local staff to execute a comprehensive community outreach plan. In our 71 -unit Senior housing development in Palm Springs, we conducted over 25 meetings across twelve
months, gathering input, educat ing, and garnering support.

Our successes in generating positive support in small cities helped us earn a reputation as a true collaborator, and was pivotal reason why WHCHC was recently awarded the RFP in Beverly Hills do deliver 252 homes to low-income Seniors.

WHCHC will incorporate a variety of methods of community engagement to encourage input, dispel myths, and eventually build support. The development team’s strategies will ensure all interested parties are heard and given an opportunity to contribute. Our engagement process is outlined below.

Stage 1
Mapping Stakeholder (2 Weeks)

WHCHC will first work rigorously to identify and map the key stakeholders. WHCHC is committed to hearing a broad set of voices and building a diverse coalition of stakeholders. To help identify the critical stakeholders, WHCHC will first meet with elected city and county officials. WHCHC will then conduct its outreach with local neighborhood associations, businesses, religious institutions, and arts and cultural organizations.

Through this initial mapping, WHCHC will determine the
appropriate venues for conducting meetings, workshops, and design charrettes. WHCH will better understand what barriers exist for active turnout and plan accordingly to ensure everyone feels heard.

Stage 2
Community Outreach (10 Weeks)
WHCHC in collaboration with EYRC will host small and large meetings in variety of physical spaces. WHCHC will commit to at least two large group meetings to gather input and help educate the public about affordable housing. WHCHC will look for venues that are easily accessible and well attended.

WHCHC will provide printed materials in multilingual formats, including braille and large print, to accommodate families with visual impairments. WHCHC has a rich history of providing services to residents across many languages like Korean in Koreatown, Russian in West Hollywood, and Spanish in Pico - Union. Our commitment to language inclusivity will be
steadfast through the community engagement process.

Translators will be present through all public presentations. In addition, WHCHC will ensure that all phy sical venues have proper disabled access and mindful of how the language will sound to different population groups within Culver City.

In addition to hosting two large group meetings, WH CHC will deploy mobile teams to travel through neighborhoods and meet individuals and small groups. Our team will host focus groups to gather insights on unit accommodations, social amenities, services, and accessibility. WHCHC will also attend special events and programs to foster a sense of deeper connection with the community. At these events, we will distribute housing materials like WHCHC newsletters to share progress on our project and general information on affordable housing. These events will seek to connect with those who may find it difficult to attend a large gathering of people, preferring an intimate one on one session with WHCHC staff.
71 Stage 3
Design Input (4 Weeks)

WHCHC will host at least one design charrette to solicit feedback on the community needs and evaluate the
proposed site amenities. Mirroring the style of a pop -up event, this workshop will be an opportunity to connect
directly with WHCHC staff and the arch itect EYRC. During the workshop, attention will be held to aspects such as architectural style, massing, open space, and resident
services. To the greatest extent possibly, WHCHC will try to incorporate community feedback while balancing the
city’s goals a nd financial constraints. When physical or financial constraints prevent us from making a specific design change, WHCHC will be completely transparent for why it cannot make the change.

Stage 4
Community Updates (On-Going)
WHCHC will maintain dynamic communication through
social media and other channels, actively responding to the community's feedback. WHCHC will communicate its
findings through mass media entailing flyers, email blasts, and webpages. WHCHC will post regular status updates
through popular social media services like Facebook,
NextDoor, and X (Twitter). We will inform our stakeholders by providing a variety of digital outreach materials
including Fact vs Myth Statements, Frequently Asked
Questions, and mailings in variety of languages.

Regular evaluations will refine our approach, ensuring
that all voices are heard and considered. WHCHC will
develop accessible surveys via phone, online, and paper to evaluate the success of the communication plan and
evolve it accordingly.

By incorporating these strategies, WHCHC engages
residents and neighborhood organizations, and breaks
down barriers related to language, disability, and other challenges. This comprehensive approach ensures that
the project is inclusive, responsive, and representative of the diverse perspectives within the community.
72 E.1 -E.3
2=
2 PRO FORMA
73 PROJECT SUMMARY
Project Name
Address
City, State ZIP
Project Type
Site Area (sq ft)
Landscaped Area (sq ft)
Unit Summary # %
One Bedroom 61 91%
Two Bedroom 5 7%
Three Bedroom 0 0%
Manager 1 1%
Total 67 100%
Income Summary AMI %
Extremely Low 30% 0%
Low 60% 0%
Moderate 80% 7%
Manager 1%
9%
Residential Area
1st Floor (sq ft)
2nd Floor (sq ft)
3rd Floor (sq ft)
4th Floor (sq ft)
5th Floor (sq ft)
6th Floor (sq ft)
7th Floor (sq ft)
8th Floor (sq ft)
Total (sq ft)
Parking Spaces
Assumptions
Residential Vacancy Factor
Perm Loan Rate
Debt Service Coverage Ratio
TCAC
Credit Rate (Cents per Dollar)
Construction Loan Rate
42,200
12,097
10,060
6,800
1,800
6,000
6,000
6,000
6,000
Washington Palms
11029 Washington Blvd
Culver City, CA 92626
Workforce
6,000
3,600
$0.90

6.20%

1.15 5.00%

6.20%
4%
0 74
Washington Palms
67 units

PERMANENT USES
AMOUNT PER UNIT %
Land $3,576,000 $53,373 7%
Hard Costs $29,652,971 $442,582 59%
Architecture & Engineering $2,222,649 $33,174 4%
Finance Costs $3,912,340 $58,393 8%
Developer Fee $5,863,727 $87,518 12%
Contingency Costs $3,154,944 $47,089 6%
Other Soft Costs $1,838,133 $27,435 4%
TOTAL USES $50,220,765 $749,564 100%
Check $0

PERM SOURCES
AMOUNT PER UNIT %
Permanent Loan $7,078,565 $105,650 14%
HCD - MHP $12,159,236 $181,481 24%
HCD - IIG $3,201,424 $47,782 6%
Land Donation - Culver City $3,500,000 $52,239 7%
LACDA $0 $0 0%
Tax Credit Equity - Federal $21,039,054 $314,016 42%
Tax Credit Equity - State $0 $0 0%
GP Equity (Developer Fee) $3,242,485 $48,395 6%
Deferred Developer Fee $0 0 0%
TOTAL SOURCES $50,220,765 $749,564 100%
Check ($0)

CONSTRUCTION SOURCES
AMOUNT PER UNIT %

CONSTRUCTION FIN (SOURCES)
Construction Loan -Tax Exempt $27,621,421 $412,260 55%
Construction Loan -Taxable $8,224,371 $122,752 16%
Tax Credit Equity $3,155,858 $47,102 6%
Land Donation $3,500,000 $52,239 7%
IIG $2,881,282 $43,004 6%
LACDA $0 $0 0%
Deferred Costs & Fee $4,837,833 $72,206 10%
TOTAL SOURCES $50,220,765 $749,564 100%
Check $0
Cash Fee 2,621,242
75 Washington Palms

DEVELOPMENT BUDGET

BUDGET PER SQ FT PER UNIT ELIG BASIS
ACQUISITION 42,200 67
Land Value $3,500,000 $83 $52,239 ********
Demolition $76,000 $2 $1,134 ********
Acq Closing Costs $0 $0 ********
SUBTOTAL ACQUISITION COSTS $3,576,000 $85 $53,373 $0

ACQ/PREDEV FINANCING COSTS
Predevelopment Interest 7.50% $75,000 $2 $1,119 ******** Holding Costs $10,000 $0 $149 ********
Predevelopment Loan & Legal Fees $17,500 $0 $261 ******** SUBTOTAL ACQ/PREDEV COSTS $102,500 $2 $1,530 $0

CONSTRUCTION
Site Work $1,191,667 $28 $17,786 $1,191,667
Structures $24,274,881 $575 $362,312 $24,274,881
Parking $0 $0 $0 $0
General Requirements 9% $2,298,829 $54 $34,311 $2,298,829 Contractor Overhead & Profit 4% $1,021,702 $24 $15,249 $1,021,702 Pmt Perf Bond 1.50% $432,946 $10 $6,462 $432,946
Insurance 1.50% $432,946 $10 $6,462 $432,946
TOTAL CONSTRUCTION COSTS $29,652,971 $703 $442,582 $29,652,971

ARCHITECTURE
Design 5.0% $1,481,986 $35 $22,119 $1,481,986
Supervision $370,662 $9 $5,532 $370,662
Survey & Engineering $370,000 $9 $5,522 $370,000
SUBTOTAL ARCHITECTURE COSTS $2,222,649 $53 $33,174 $2,222,649

CONSTRUCTION LOAN
Construction Interest Expense 24 $2,550,760 $60 $38,071 $1,818,099 Origination Fee 0.75% $305,000 $7 $4,552 $305,000
Application Fee $0 $0 $0 $0
Bond Premium $0 $0 $0 $0
Cost of Issuance $218,500 $5 $3,261 $0
Title & Recording $125,000 $3 $1,866 $62,500
Real Estate Taxes 24 $0 $0 $0 $0
Property Insurance 1.50% $444,795 $11 $6,639 $444,795
Other: Public Lender Interest $0 $0 $0 $0
Other: Lender Costs & Fees $25,000 $1 $373 $25,000
SUBTOTAL CONSTRUCTION LOAN $3,669,055 $87 $54,762 $2,655,393

PERMANENT FINANCING
Loan Origination Fee 1.00% $70,786 $2 $1,057 ********
Application Fee $15,000 $0 $224 ********
Title & Recording $15,000 $0 $224 ********
Taxes, Insurance & Other $40,000 $1 $597 ********
SUBTOTAL PERMANENT FINANCING $140,786 $3 $2,101 $0

LEGAL FEES & THIRD PARTY FEES
Lender Legal Paid by Applicant $140,000 $3.32 $2,090 $140,000 Financial Consulting $0 $0 $0 $0
Entiltements & Permit Expediting $35,000 $1 $522 $35,000 SUBTOTAL LEGAL & CONSULTING COSTS $175,000 $4 $2,612 $140,000

RESERVES
Transition Reserve $0 $0 $0 ********
Three Month Operating Reserve $284,727 $7 $4,250 ******** Additional Lender Req'd Reserve $0 $0 $0 ********
SUBTOTAL RESERVE COSTS $284,727 $7 $4,250 $0

CONTINGENCY COSTS
Hard Cost Contingency 10.0% $2,965,297 $70 $44,258 $2,965,297 Soft Cost Contingency 3% $189,647 $4 $2,831 $189,647
TOTAL CONTINGENCY COSTS $3,154,944 $75 $47,089 $3,154,944

OTHER PROJECT COSTS
TCAC $52,847 $1 $789 ********
Environmental Audit $10,000 $0 $149 $10,000
Local Development Impact Fees $212,420 $5 $3,170 $212,420 Permit Processing Fees $286,639 $7 $4,278 $286,639
Capital Fees (Utilties, Equipment, etc) $190,000 $5 $2,836 $190,000 Leaseup & Marketing $25,000 $1 $373 ********
Furnishings $151,500 $4 $2,261 $151,500
Market Study $10,000 $0 $149 $10,000
Accounting/Reimbursables $35,000 $1 $522 ********
Appraisal Costs $10,000 $0 $149 $10,000
Construction Mgmt $395,000 $9 $5,896 $395,000
Other: $0 $0 $0 ********
SUBTOTAL OTHER COSTS $1,378,406 $33 $20,573 $1,265,559

DEVELOPER COSTS
Developer Overhead/Profit $5,863,727 $139 $87,518 $5,863,727 SUBTOTAL DEVELOPER COSTS $5,863,727 $139 $87,518 $5,863,727 TOTAL DEVELOPMENT COSTS $50,220,765 $1,190 $749,564 $44,955,244 check $1,190 $749,564
76 INCOME SUMMARY

TOTAL GROSS UTILITY NET MONTHLY MONTHLY MONTHLY
UNIT SIZE % AMI # % SQ FT SQ FT RENT ALLOW. RENT RENT SUBSIDY SUBSIDY INCOME One Bedroom 30% 17 26% 600 10,200 $852 $51 $801 $13,617 $0 $13,617 One Bedroom 60% 24 36% 600 14,400 $1,704 $51 $1,653 $39,672 $0 $39,672 One Bedroom 80% 20 30% 600 12,000 $2,272 $51 $2,221 $44,420 $0 $44,420 Two Bedroom 80% 5 8% 1000 5,000 $2,725 $62 $2,663 $13,314 $0 $13,314 Manager 1 900 600 $0 $0
Average AMI 60%
Subtotal 67 100% 42,200
111,023 0 $111,023
Gross Annual Rental Income $1,332,276
Laundry/Vending Income @ $5 per unit per month $4,020
Less: Vacancy @ 5.00% per year ($66,815)
Effective Gross Annual Rental Income $1,269,481
Less: Operating Expenses @ $9,999 per unit ($659,943)
Net Residential Operating Income $609,538
Cash Flow Available for Debt Service $530,033.24
Gross Annual Commercial Income 1,800 3.42$ 6,156 73,872 Less: Vacancy @ 20.00% per year ($14,774)
Net Commercial Operating Income $59,098
77 OPERATING EXPENSE SUMMARY
YEAR 1 PER UNIT PER MON
66 ADMINISTRATIVE EXPENSES
Adversting $20,222 $306 $1,685
Legal $10,713 $162 $893
Accounting/Audit $25,000 $379 $2,083
Security $0 $0 $0
Communication $12,500 $189 $1,042
Other: Misc Admin $4,752 $72 $396
SUBTOTAL ADMINISTRATIVE EXPENSES $73,187 $1,109 $6,099
MANAGEMENT FEE $59,400 $900 $4,950

UTILITIES
Gas $0 $0 $0
Electric $34,708 $526 $2,892
Water/Sewer $38,123 $578 $3,177
SUBTOTAL UTILITIES $72,832 $1,104 $6,069

PAYROLL
On-Site Manager $81,098 $1,229 $6,758
Maintenance Personnel $32,390 $491 $2,699
Benefits 29% $32,912 $499 $2,743
SUBTOTAL PAYROLL $146,400 $2,218 $12,200
INSURANCE $65,540 $993 $5,462

MAINTENANCE
Supplies $12,598 $191 $1,050
Repairs $31,500 $477 $2,625
Janitor & Cleaning $21,300 $323 $1,775
Trash Removal $14,500 $220 $1,208
Exterminating $4,791 $73 $399
Grounds $9,500 $144 $792
Elevator $8,400 $127 $700
Fire Alarm $2,010 $30 $168
MEP Repairs $14,431 $219 $1,203
SUBTOTAL MAINTENANCE $119,031 $1,803 $9,919

OTHER EXPENSES
Real Estate Taxes, Licenses & Permits $4,754 $72 $396
Culver City Ground Lease $20,000 $303 $1,667
Bond/Trustee Loan Monitoring Fees $4,000 $61 $333
Compliance Monitoring $0 $0
SUBTOTAL OTHER EXPENSES $28,754 $436 $2,396
SUBTOTAL OPERATING EXPENSES $565,143 $8,563 $47,095
Service Amenities $75,000 $1,136 $6,250
Replacement Reserves 300 $19,800 $300 $1,650 TOTAL EXPENSES $659,943 $9,999 $54,995
Asset Management Fee $5,000 $76 $417
Managing General Partner Fee $25,000 $379 $2,083
TOTAL PROJECT EXPENSES $30,000 $455 $2,500
OPERATING EXPENSES FOR TCAC MINIMUMS $8,127
78 CASH FLOW
YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 YEAR 6 YEAR 7 YEAR 8 YEAR 9 YEAR 10 YEAR 11 YEAR 12 YEAR 13 YEAR 14 YEAR 15

REVENUE
Rental Revenue 2.5% $1,332,276 $1,365,583 $1,399,722 $1,434,716 $1,470,583 $1,507,348 $1,545,032 $1,583,658 $1,623,249 $1,663,830 $1,705,426 $1,748,062 $1,791,763 $1,836,557 $1,882,471 Other Income 2.5% $4,020 $4,121 $4,224 $4,329 $4,437 $4,548 $4,662 $4,779 $4,898 $5,020 $5,146 $5,275 $5,406 $5,542 $5,680 Less: Vacancy 5.0% ($66,815) ($68,485) ($70,197) ($71,952) ($73,751) ($75,595) ($77,485) ($79,422) ($81,407) ($83,443) ($85,529) ($87,667) ($89,858) ($92,105) ($94,408) SUBTOTAL NET REVENUE $1,269,481 $1,301,218 $1,333,749 $1,367,092 $1,401,270 $1,436,301 $1,472,209 $1,509,014 $1,546,740 $1,585,408 $1,625,043 $1,665,669 $1,707,311 $1,749,994 $1,793,744

ADMINISTRATIVE EXPENSES
Adversting 3.5% $20,222 $20,930 $21,662 $22,420 $23,205 $24,017 $24,858 $25,728 $26,628 $27,560 $28,525 $29,523 $30,556 $31,626 $32,733 Legal 3.5% $10,713 $11,088 $11,476 $11,878 $12,293 $12,724 $13,169 $13,630 $14,107 $14,601 $15,112 $15,641 $16,188 $16,754 $17,341 Accounting/Audit 3.5% $25,000 $25,875 $26,781 $27,718 $28,688 $29,692 $30,731 $31,807 $32,920 $34,072 $35,265 $36,499 $37,777 $39,099 $40,467 Security 3.5% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Communication 3.5% $12,500 $12,938 $13,390 $13,859 $14,344 $14,846 $15,366 $15,903 $16,460 $17,036 $17,632 $18,250 $18,888 $19,549 $20,234 Other: Misc Admin 3.5% $4,752 $4,918 $5,090 $5,269 $5,453 $5,644 $5,841 $6,046 $6,257 $6,476 $6,703 $6,938 $7,181 $7,432 $7,692 SUBTOTAL ADMINISTRATIVE EXPENSES $73,187 $75,748 $78,399 $81,143 $83,983 $86,923 $89,965 $93,114 $96,373 $99,746 $103,237 $106,850 $110,590 $114,461 $118,467 ` 3.5% $59,400 $61,479 $63,631 $65,858 $68,163 $70,549 $73,018 $75,573 $78,218 $80,956 $83,790 $86,722 $89,757 $92,899 $96,150

UTILITIES
Gas 3.5% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Electric 3.5% $34,708 $35,923 $37,180 $38,482 $39,829 $41,223 $42,665 $44,159 $45,704 $47,304 $48,959 $50,673 $52,447 $54,282 $56,182 Water/Sewer 3.5% $38,123 $39,458 $40,839 $42,268 $43,748 $45,279 $46,863 $48,504 $50,201 $51,958 $53,777 $55,659 $57,607 $59,623 $61,710 SUBTOTAL UTILITIES $72,832 $75,381 $78,019 $80,750 $83,576 $86,501 $89,529 $92,662 $95,905 $99,262 $102,736 $106,332 $110,054 $113,906 $117,892

PAYROLL
On-Site Manager 3.5% $81,098 $83,936 $86,874 $89,915 $93,062 $96,319 $99,690 $103,179 $106,791 $110,528 $114,397 $118,401 $122,545 $126,834 $131,273 Maintenance Personnel 3.5% $32,390 $33,524 $34,697 $35,912 $37,168 $38,469 $39,816 $41,209 $42,652 $44,144 $45,689 $47,289 $48,944 $50,657 $52,430 Benefits 2.5% $32,912 $33,734 $34,578 $35,442 $36,328 $37,236 $38,167 $39,122 $40,100 $41,102 $42,130 $43,183 $44,262 $45,369 $46,503 SUBTOTAL PAYROLL $146,400 $151,195 $156,149 $161,269 $166,559 $172,025 $177,673 $183,510 $189,542 $195,775 $202,216 $208,872 $215,751 $222,859 $230,206 INSURANCE 3.5% $65,540 $67,834 $70,208 $72,665 $75,209 $77,841 $80,565 $83,385 $86,304 $89,324 $92,451 $95,686 $99,035 $102,502 $106,089

MAINTENANCE
Supplies 3.5% $12,598 $13,039 $13,495 $13,967 $14,456 $14,962 $15,486 $16,028 $16,589 $17,170 $17,771 $18,392 $19,036 $19,702 $20,392 Repairs 3.5% $31,500 $32,603 $33,744 $34,925 $36,147 $37,412 $38,722 $40,077 $41,479 $42,931 $44,434 $45,989 $47,599 $49,265 $50,989 Janitor & Cleaning 3.5% $21,300 $22,046 $22,817 $23,616 $24,442 $25,298 $26,183 $27,100 $28,048 $29,030 $30,046 $31,097 $32,186 $33,312 $34,478 Trash Removal 3.5% $14,500 $15,008 $15,533 $16,076 $16,639 $17,221 $17,824 $18,448 $19,094 $19,762 $20,454 $21,170 $21,910 $22,677 $23,471 Exterminating 3.5% $4,791 $4,959 $5,132 $5,312 $5,498 $5,690 $5,889 $6,095 $6,309 $6,529 $6,758 $6,994 $7,239 $7,493 $7,755 Grounds 3.5% $9,500 $9,833 $10,177 $10,533 $10,901 $11,283 $11,678 $12,087 $12,510 $12,948 $13,401 $13,870 $14,355 $14,858 $15,378 Elevator 3.5% $8,400 $8,694 $8,998 $9,313 $9,639 $9,977 $10,326 $10,687 $11,061 $11,448 $11,849 $12,264 $12,693 $13,137 $13,597 Fire Alarm 3.5% $2,010 $2,081 $2,154 $2,229 $2,307 $2,388 $2,471 $2,558 $2,647 $2,740 $2,836 $2,935 $3,038 $3,144 $3,254 MEP Repairs 3.5% $14,431 $14,936 $15,459 $16,000 $16,560 $17,140 $17,740 $18,361 $19,003 $19,668 $20,357 $21,069 $21,807 $22,570 $23,360 SUBTOTAL MAINTENANCE $119,031 $123,197 $127,508 $131,971 $136,590 $141,371 $146,319 $151,440 $156,740 $162,226 $167,904 $173,781 $179,863 $186,158 $192,674

OTHER EXPENSES
Real Estate Taxes, Licenses & Permits 3.5% $4,754 $4,921 $5,093 $5,271 $5,456 $5,647 $5,844 $6,049 $6,261 $6,480 $6,707 $6,941 $7,184 $7,436 $7,696 Culver City Ground Lease 3.5% $20,000 $20,700 $21,425 $22,174 $22,950 $23,754 $24,585 $25,446 $26,336 $27,258 $28,212 $29,199 $30,221 $31,279 $32,374 Bond/Trustee Loan Monitoring Fees 3.5% $4,000 $4,140 $4,285 $4,435 $4,590 $4,751 $4,917 $5,089 $5,267 $5,452 $5,642 $5,840 $6,044 $6,256 $6,475 Compliance Monitoring 0.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 SUBTOTAL OTHER EXPENSES $28,754 $29,761 $30,802 $31,881 $32,996 $34,151 $35,347 $36,584 $37,864 $39,189 $40,561 $41,981 $43,450 $44,971 $46,545 SUBTOTAL OPERATING EXPENSES $565,143 $584,594 $604,717 $625,537 $647,076 $669,360 $692,416 $716,268 $740,947 $766,479 $792,895 $820,225 $848,501 $877,755 $908,023 Service Amenities 3.5% $75,000 $77,625 $80,342 $83,154 $86,064 $89,076 $92,194 $95,421 $98,761 $102,217 $105,795 $109,498 $113,330 $117,297 $121,402 Replacement Reserves $19,800 $19,800 $19,800 $19,800 $19,800 $19,800 $19,800 $19,800 $19,800 $19,800 $19,800 $19,800 $19,800 $19,800 $19,800 Real Estate Taxes 2.0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 TOTAL EXPENSES $659,943 $682,019 $704,859 $728,490 $752,940 $778,237 $804,410 $831,489 $859,507 $888,496 $918,489 $949,522 $981,631 $1,014,852 $1,049,225 NET OPERATING INCOME $609,538 $619,199 $628,890 $638,602 $648,329 $658,065 $667,799 $677,525 $687,232 $696,912 $706,554 $716,147 $725,680 $735,142 $744,518 Debt Service $478,964 $478,964 $478,964 $478,964 $478,964 $478,964 $478,964 $478,964 $478,964 $478,964 $478,964 $478,964 $478,964 $478,964 $478,964 HCD Service Fee 0.42% $51,069 $51,069 $51,069 $51,069 $51,069 $51,069 $51,069 $51,069 $51,069 $51,069 $51,069 $51,069 $51,069 $51,069 $51,069 DSCR 1.15 1.29 1.31 1.33 1.35 1.37 1.39 1.41 1.43 1.46 1.48 1.50 1.52 1.53 1.55 CASH FLOW AFTER DEBT SERVICE $79,505 $89,166 $98,856 $108,569 $118,296 $128,031 $137,766 $147,492 $157,199 $166,879 $176,521 $186,114 $195,647 $205,108 $214,485 Asset Management Fee $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 Managing General Partner Fee $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 RESIDUAL PROJECT CASH FLOW $49,505 $59,166 $68,856 $78,569 $88,296 $98,031 $107,766 $117,492 $127,199 $136,879 $146,521 $156,114 $165,647 $175,108 $184,485 RESIDUAL RECEIPTS 50%
LACDA 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Land Donation - Culver City 50% $24,752 $29,583 $34,428 $39,284 $44,148 $49,016 $53,883 $58,746 $63,599 $68,439 $73,260 $78,057 $82,824 $87,554 $92,243 COMMERCIAL INCOME 3% 59,098$ $60,871 $62,697 $64,578 $66,515 $68,510 $70,566 $72,683 $74,863 $77,109 $79,422 $81,805 $84,259 $86,787 $89,390 Culver City 100% 59,098$ 60,871$ 62,697$ 64,578$ 66,515$ 68,510$ 70,566$ 72,683$ 74,863$ 77,109$ 79,422$ 81,805$ 84,259$ 86,787$ 89,390$

TOTAL REVENUE
Culver City $103,850 $111,154 $118,549 $126,036 $133,613 $141,280 $149,034 $156,874 $164,799 $172,806 $180,894 $189,061 $197,304 $205,620 $214,007 79 DEBT CALCULATION
Annual Net Operating Income $609,538
Debt Service Coverage Ratio 1.15
Cash Flow Available $530,033
HCD Debt Payments $51,069
Cash Flow Available for Debt Service $478,964
Permanent Loan Interest Rate 6.20%
Permanent Loan Term 40
MAXIMUM PERMANENT LOAN $7,078,565
Debt Service 478,964
Loan $7,078,565
80 TAX CREDIT CALCULATION
2024 THRESHOLD BASIS LIMIT BASIS LIMIT UNITS TOTAL BASIS Studio $437,727 0 $0
One Bedroom $504,695 61 $30,786,395
Two Bedroom $608,800 5 $3,044,000
Three Bedroom $779,264 0 $0
SUBTOTAL THRESHOLD BASIS $33,830,395
PLUS
Federal Prevailing Wage Y 20% $6,766,079
Project Labor Agreement N 5% $0
Parking Beneath Units Y 10% $3,383,040
Elevator to 95% of Upper Units Y 10% $3,383,040
Day Care on Site N 2% $0
100% for Special Needs N 2% $0
Sustainability- Item e: up to 10% Y 6% $2,029,824
Seismic Upgrade or Toxic Mitigation N 15% $0
Highest or High Opport. Area Y 10% $3,383,040
Local Dev. Impact Fees N $212,420
Income Targeting (36-50%) 4% 0.0% $0
Income Targeting (35% or less) 4% 0.0% $0
THRESHOLD BASIS LIMIT $52,987,836
TAX CREDIT CALCULATION 4%
Total Unadjusted Basis $44,955,244
Less: Basis Reduction $0
TOTAL ELIGIBLE BASIS $44,955,244
x High Cost Bonus 130.0%
TOTAL ADJUSTED ELIGIBLE BASIS $58,441,817
x Applicable Fraction 100%
TOTAL QUALIFIED BASIS $58,441,817
Less: Total Credit Reduction 0.00%
TOTAL ADJUSTED QUALIFIED BASIS $58,441,817
x Credit Rate 4.00% $2,337,673
x # of Years of Credit 10 $23,376,727
x Tax Credit Factor $0.90
EQUITY TO PROJECT $21,039,054
81 1.1 Site Security 240,000

1.2 Erosion Control 50,000

1.3 Cleanup 370,000

1.4 Survey 50,000

1.5 Miscellaneous Site Labor & Equipment 240,000

1.6 Labor Compliance 180,000

1.7 Traffic Control 100,000

1.8 Temporary Construction Elevator 530,000

2.1 Demolition & Abatement 76,000

3.1 Structural Concrete and CMU 2,958,520

3.2 Lightweight Concrete 132,020

5.1 Structural Steel & Miscellaneous Steel 1,510,000

5.2 EBM 100,000

6.1 Rough Carpentry 1,865,700

7.1 Building Insulation 152,673

7.2 Waterproofing 51,510

7.3 Roofing 132,020

7.4 Sheet Metal 203,564

8.1 Doors, Frames, Hardware & Trim 670,000

8.2 Storefront 540,000

8.3 Windows 335,000

9.1 Exterior 1,221,384

9.2 Drywall 1,119,420

9.3 Tile Work 50,000

9.4 Flooring 407,128

9.5 Painting 405,346

10.1 Toilet, Bath and Laundry Accessories 67,000

10.2 Signage 33,500

10.3 Building Specialties 186,750

11.1 Residential Appliances 234,500

12.1 Cabinets 569,500

12.2 Countertops 167,500

12.3 Window Treatments 33,500
Conceptual Estimate
11205 Washington Boulevard
82 13.1 Photovoltaic 402,000

14.1 Elevator 360,000

21.1 Fire Sprinklers 305,346

22.1 Plumbing 2,680,000

23.1 HVAC 1,976,500

26.1 Electrical 2,512,500

26.2 Light Fixtures 335,000

27.1 Phone / Data / Television 201,000

27.2 Fire Alarm 201,000

27.3 Distributed Antenna System 150,000

27.4 Security System 96,000

27.5 Access System 50,000

31.1 Grading 101,667

32.2 Shoring 0

32.1 Hardscape 180,000

32.2 Landscape 235,000

32.3 Furnishings 50,000

32.4 Offsite Work 49,000

33.1 Site Utilities 675,000
Total Direct Cost: 25,542,548
General Condition @ 9%: 2,298,829
Overhead & Profit @ 4%: 1,021,702
Insurance & Bond @ 3%: 865,892
Total Cost: 29,728,971
Schedule: 24 months
$/Unit 443,716
Cost Estimate Provided By:

Jack Wickersham 8/25/2025
Jack Wickersham Date
AMJ Construction Management
[email protected]
213.392.0972
www.amjcm.com
83 E.4

FINANCIAL

STRATEGY
84 SECTION E – FINANCIAL APPROACH
E.1 & E.2 FINANCIAL STRATEGY
Our approach is designed to advance the project quickly while minimizing the City's capital contribution in the most flexible way. The City’s primary contribution will be a land donation, making this a financially efficient partnership
Despite the deep income targeting, reserving 25% of the total units to extremely low income households, the project does not require any Project Based Vouchers. Instead, the project relies on incomes from the 80% AMI units to absorb
operational expenses.

Washington Palms will leverage the land donation to secure $15 million funding the from State’ Housing Community
Department (HCD). WHCHC’s expertise in navigating
oversubscribed state resources is critical . Although this funding program is typically oversubscribed by a factor greater than 10 to 1 – as evident in the 2025 SuperNOFA, WHCHC has been routinely been able to secure these funds. Most recently, WHCHC secured a $17 million Multifamily Housing Program (MHP) award for its 94 -unit affordable projec t in West Hollywood. Washington Palms is positioned for similar
success. B ased on the 2025 SuperNOFA scoring assessment, Washinton Palms is expected to receive a perfect score and is bolstered with highly competitive tiebreaker score, due to its deep affordability income targets.

To complete the construction of the site utilities, WHCHC will rely on securing an Infill Infrastructure Grant from HCD .

WHCHC has a history of winning this competitive grant, having been awarded over $5.7 million for two construction projects just in the past five years.

WHCHC will leverage its strong reputation as a leading
developer of high -quality affordable housing to secure competitive, low -interest construction financing. Despite closing during a peak inflationary period, WHCHC successfully obtained fixed-rate construction loans on two recent projects, demonstrating its ability to attract favorable terms even in challenging markets. Additionally, WHCHC will utilize its strategic partnership with Lift to Rise to obtain
predevelopment and mezzanine construction loans at below- market interest rates. This approach proved highly effective on the Aloe Palm Canyon, where WHCHC saved over $1 million in interest costs through these advantageous financing
arrangements.

To maximize feasibility, WHCHC has structured the project using 4% federal tax credits without the need to rely on state tax credits for either phase . The project is conservatively priced at $0. 90, despite WHCHC's proven ability to secure significantly higher pricing. In 2024, WHCHC achieved pricing of $0.92 for 4% credits. Previously, the organization secured $0.98 for a 104-unit senior community and $0.95 for a 94-unit family development. These p remium pricing levels reflect WHCHC’s strong track record fo r delivering high-quality, well- designed affordable housing on time and within budget.

If necessary, WHCHC will seek gap financing through
Affordable Homes Program (AHP) grant from the San Francisco Federal Homes Loan Bank. WHCHC has been successful in
securing this grant in two of its last 4 projects in construction, including the developme nt of APC. WHCHC has identified the Los Angeles County Development Authority (LACDA) as
another option for gap financing. WHCHC has had tremendous success with LACDA, securing over $16 million on its last four construction projects in the county.

Backed by WHCHC’s strategic financing and partnerships, the project delivers lasting affordability and quality —without placing a burden on City resources.
85 E.4 CITY BENEFITS
WHCHC requests Culver City to donate land valued at $3.5 million to help secure over $15 million in competitive State funding for the project. This generous donation is vital to unlocking the significant resources necessary to move the project forward, pro viding the foundation for substantial community investment and growth.

In return, Culver City will receive $20,000 annually in above‑the‑line ground lease payments for 55 years. This is the maximum allowable lease payment while still qualifying the site as an eligible land donation, ensuring the City retains vital financial benefits from the outset. Additionally, the City will receive 50% o f the total residual receipts from cash flow operations over the same 55 -year period, creating a reliable and long-term revenue stream.

WHCHC is also offering 100% of the revenue generated from the Art Center to Culver City. Based on extensive local market research, the triple net (NNN) monthly lease has been
conservatively priced at $3.42 per square foot. Within a three- mile radius along Washington Boulevard, comparable NNN
leases range between $3.50 and $6.00 per square foot per month for similar-sized spaces. The projected lease revenue of approximately $59,000 annually accounts for a 20% vacancy rate, which is well above the 8.1% averag e vacancy rate for neighborhood retail, reflecting prudent and realistic financial forecasting. By securing a submarket lease, WHCHC aims to provide a crucial community amenity that supports
neighborhood vitality and long-term sustainability.

Overall, this land donation not only unlocks substantial State funding but also ensures steady, long -term income for Culver City while delivering valuable community amenities. The total projected financial benefit to the City is $2.3 million over 15 years, making this a smart, strategic, and mutually beneficial partnership.

CITY REVENUE ANNUAL
Ground Lease Payment $ 20,000
Residual Receipts $ 24,752
Commercial Income $ 59,098
Total - Year 1 $ 103,850
Projected Revenue - 15 years $ 2,364,882
E.5 FINANCE TIMELINE
WHCHC is ready to deliver a transformative 67‑unit
community in Culver City on an accelerated timeline. Within 30 days of executing the Exclusive Negotiating Agreement, our team will confirm infrastructure capacity with local utilities and launch a robust community outreach effort to ensure the design and programs are shaped by local input. At the same time, we will work with City Planning to position the project for a highly competitive SuperNOFA application. With
financing and entitlements approvals in hand , WHCHC will break ground on a 24‑month construction schedule in fall of 2026. By fall 2028, this vibrant community will open its doors to artists, teachers and workforce households.
86 E.6 FINANCIAL BARRIERS
WHCHC acknowledges several financial challenges that could affect the funding strategy for Washington Palms . Although the 2025 SuperNOFA allocated significant resources to the Multifamily Housing Program (MHP), demand for these funds was severely oversubscribed. Additionally, federal funding for 2026 may be substantially reduced. At the same time, ongoing inflation and international tariffs are causing continued volatility in construction costs, creating risks for budget management and overall financing fea sibility. These factors could undermine both cost containment and project financial stability.

WHCHC will employ a proactive and flexible approach to
address these financial challenges. In the event t he project faces additional cost escalations , WHCHC is prepared to increase its MHP request —currently only 42% of the
program’s allowable cap—by up to $20 million.

As an alternative the MHP, WHCHC has also structured the family project to score competitively for the Affordable Housing and Sustainable Communities (AHSC) program. To
strengthen its AHSC application, WHCHC will actively seek input from the CulverCity Bus and Metro to explore joint application opportunities that enhance public transit
connections to employment centers across the Coachella Valley.

Washington Palms ’s innovative, modular assembly adds
another layer of financial and programmatic flexibility. The building’s uniform layout improves efficiency . Modular construction also reduces waste, optimizes resources, and helps manage costs, reinforcing long -term project resilience and value.

To ensure the project remains competitive for early 2026 funding rounds, WHCHC requests the City’s expedited support in securing land use entitlements. Timely processing of approvals will allow the project to submit strong, fully entitled applications to k ey funding programs. Additionally, WHCHC looks to the City to assist a robust community engagement process that affirms the project’s alignment with local needs— further strengthening its position in competitive funding evaluations. Lastly, WHCHC is prepare d to align the project with deeper affordability targets to meet MHP priorities.

Through its flexible design, adaptable financing strategy, and strong local partnerships, Washington Palms is well-positioned to overcome these challenges and deliver transformative, high-quality affordable housing in Culver City.
87 F
2 DEVELOPER

REFERENCES
88 SECTION F - REFERENCES
Jay Virata, Aloe Palm Canyon
Director, Community & Economic Development,
City of Palm Springs,
3200 E. Tahquitz Canyon Way
Palm Springs, CA 92262
[email protected]
(760) 323-8228
Timothy Elliott, Manager, Miramar Gold
Multi-family Housing Finance
Housing and Development, Finance and Development
Los Angeles County Development Authority
1910 W Sunset Blvd 3rd floor, Suite 300, Los Angeles, CA 90026 [email protected]
213-808-8596
Matt Lust, Assistant Director Mariposa Lily
(he/him/his)
Housing Investment & Finance Division
Los Angeles County Development Authority
700 W. Main St., Alhambra, CA 91801
[email protected]
(626) 586-1809
Jay Virata was a critical partner is first selecting WHCHC in 2019 and overseeing the 71-unit Senior community in Palm Springs. The project received over $7 million from Palm Springs and leveraged the Surplus Land Act to secure over $26 million from the State's Housing Community Department. The site was acquired in 2019. The stunning mid-century development opened this summer under budget and on time, and has become an instant landmark in Palm Springs In 2019, WHCHC acquired the site to develop a 94-unit family project.

The project was admitted to the 9% Management Pipeline and was awarded over $13.8 million from the City of Los Angeles. The project completed construction this summer, well ahead of its Placed In Service deadline.

In 2017, the City of Los Angeles selected WHCHC to buidl a 41-unit development on a small lot. The project leveraged the site to secure a $4.2 million award from the County of Los Angeles. The beautiful art deco seven-story tower was completed in 2023. Despite facing a six month delay for switchgear delay, the project was able to meet all of its credit delivery timelines and was delivered on budget. 89 G
=
2 PROJECT

SCHEDULE

90 WASHINGTON PALMS
Section G - Development Timeline

SITE ACQUISITION
Exclusive Negotiating Agreement 1/12/2026 3/13/2026 60
Development Disposition Agreement (DDA) 3/13/2026 3/8/2027 360 DDA Extension 3/8/2027 3/2/2028 360

ENTITLEMENTS
SB 35 Preliminary Application 1/12/2026 2/11/2026 30
Native American tribal consultation 2/11/2026 3/13/2026 30 Community Outreach 1/12/2026 7/11/2026 180
Formal Applicatin & Objective Design Standards (ODS)
Review
3/13/2026 4/12/2026 30
Ministerial Approval 4/12/2026 6/11/2026 60

DESIGN DEVELOPMENT
Conceptual 1/12/2026 3/13/2026 60
Schematic 3/13/2026 6/11/2026 30
Design Development 7/11/2026 10/9/2026 90
Construction Drawings 10/9/2026 2/6/2027 90
Building Permit 2/6/2027 3/8/2027 30

FINANCING
HCD SuperNOFA 4/15/2026 8/13/2026 120
4% Tax Credits Application 9/15/2026 11/14/2026 60
4% Close Construction Financing 11/14/2026 5/13/2027 180

CONSTRUCTION
Grading / Site Prep 5/13/2027 8/11/2027 90
Building 8/11/2027 8/5/2028 360
Utility Installations 5/7/2028 8/5/2028 90
Temporary Certificate of Occupancy 8/5/2028 11/3/2028 90 Certificate of Occupancy 11/3/2028 2/1/2029 90

OPERATIONS
Leaseup 11/3/2028 2/5/2029 90
Stabilization 2/5/2029 5/8/2029 90
Perm Conversion 5/8/2029 6/7/2029 30
Finish DurationMILESTONE Start
91 PROJECT SUMMARY
Project Name
Address
City, State ZIP
Project Type
Site Area (sq ft)
Landscaped Area (sq ft)
Unit Summary # %
One Bedroom 61 91%
Two Bedroom 5 7%
Three Bedroom 0 0%
Manager 1 1%
Total 67 100%
Income Summary AMI %
Extremely Low 30% 0%
Low 60% 0%
Moderate 80% 7%
Manager 1%
9%
Residential Area
1st Floor (sq ft)
2nd Floor (sq ft)
3rd Floor (sq ft)
4th Floor (sq ft)
5th Floor (sq ft)
6th Floor (sq ft)
7th Floor (sq ft)
8th Floor (sq ft)
Total (sq ft)
Parking Spaces
Assumptions
Residential Vacancy Factor
Perm Loan Rate
Debt Service Coverage Ratio
TCAC
Credit Rate (Cents per Dollar)
Construction Loan Rate
42,200
12,097
10,060
6,800
1,800
6,000
6,000
6,000
6,000
Washington Palms
11029 Washington Blvd
Culver City, CA 92626
Workforce
6,000
3,600
$0.90

6.20%

1.15 5.00%

6.20%
4%
0 Washington Palms
67 units

CONSTRUCTION SOURCES
AMOUNT PER UNIT %

Washington Palms

DEVELOPMENT BUDGET

RESERVES
Transition Reserve $0 $0 $0 ********
Three Month Operating Reserve $284,727 $7 $4,250 ******** Additional Lender Req'd Reserve $0 $0 $0 ********
SUBTOTAL RESERVE COSTS $284,727 $7 $4,250 $0

CONTINGENCY COSTS
Hard Cost Contingency 10.0% $2,965,297 $70 $44,258 $2,965,297 Soft Cost Contingency 3% $189,647 $4 $2,831 $189,647
TOTAL CONTINGENCY COSTS $3,154,944 $75 $47,089 $3,154,944

INCOME SUMMARY

OPERATING EXPENSE SUMMARY
YEAR 1 PER UNIT PER MON
66 ADMINISTRATIVE EXPENSES
Adversting $20,222 $306 $1,685
Legal $10,713 $162 $893
Accounting/Audit $25,000 $379 $2,083
Security $0 $0 $0
Communication $12,500 $189 $1,042
Other: Misc Admin $4,752 $72 $396
SUBTOTAL ADMINISTRATIVE EXPENSES $73,187 $1,109 $6,099
MANAGEMENT FEE $59,400 $900 $4,950

UTILITIES
Gas $0 $0 $0
Electric $34,708 $526 $2,892
Water/Sewer $38,123 $578 $3,177
SUBTOTAL UTILITIES $72,832 $1,104 $6,069

PAYROLL
On-Site Manager $81,098 $1,229 $6,758
Maintenance Personnel $32,390 $491 $2,699
Benefits 29% $32,912 $499 $2,743
SUBTOTAL PAYROLL $146,400 $2,218 $12,200
INSURANCE $65,540 $993 $5,462

CASH FLOW
YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 YEAR 6 YEAR 7 YEAR 8 YEAR 9 YEAR 10 YEAR 11 YEAR 12 YEAR 13 YEAR 14 YEAR 15

TOTAL REVENUE
Culver City $103,850 $111,154 $118,549 $126,036 $133,613 $141,280 $149,034 $156,874 $164,799 $172,806 $180,894 $189,061 $197,304 $205,620 $214,007

DEBT CALCULATION
Annual Net Operating Income $609,538
Debt Service Coverage Ratio 1.15
Cash Flow Available $530,033
HCD Debt Payments $51,069
Cash Flow Available for Debt Service $478,964
Permanent Loan Interest Rate 6.20%
Permanent Loan Term 40
MAXIMUM PERMANENT LOAN $7,078,565
Debt Service 478,964
Loan $7,078,565

TAX CREDIT CALCULATION
2024 THRESHOLD BASIS LIMIT BASIS LIMIT UNITS TOTAL BASIS Studio $437,727 0 $0
One Bedroom $504,695 61 $30,786,395
Two Bedroom $608,800 5 $3,044,000
Three Bedroom $779,264 0 $0
SUBTOTAL THRESHOLD BASIS $33,830,395
PLUS
Federal Prevailing Wage Y 20% $6,766,079
Project Labor Agreement N 5% $0
Parking Beneath Units Y 10% $3,383,040
Elevator to 95% of Upper Units Y 10% $3,383,040
Day Care on Site N 2% $0
100% for Special Needs N 2% $0
Sustainability- Item e: up to 10% Y 6% $2,029,824
Seismic Upgrade or Toxic Mitigation N 15% $0
Highest or High Opport. Area Y 10% $3,383,040
Local Dev. Impact Fees N $212,420
Income Targeting (36-50%) 4% 0.0% $0
Income Targeting (35% or less) 4% 0.0% $0
THRESHOLD BASIS LIMIT $52,987,836
TAX CREDIT CALCULATION 4%
Total Unadjusted Basis $44,955,244
Less: Basis Reduction $0
TOTAL ELIGIBLE BASIS $44,955,244
x High Cost Bonus 130.0%
TOTAL ADJUSTED ELIGIBLE BASIS $58,441,817
x Applicable Fraction 100%
TOTAL QUALIFIED BASIS $58,441,817
Less: Total Credit Reduction 0.00%
TOTAL ADJUSTED QUALIFIED BASIS $58,441,817
x Credit Rate 4.00% $2,337,673
x # of Years of Credit 10 $23,376,727
x Tax Credit Factor $0.90
EQUITY TO PROJECT $21,039,054

1.1 Site Security 240,000

1.2 Erosion Control 50,000

1.3 Cleanup 370,000

1.4 Survey 50,000

1.5 Miscellaneous Site Labor & Equipment 240,000

1.6 Labor Compliance 180,000

1.7 Traffic Control 100,000

1.8 Temporary Construction Elevator 530,000

2.1 Demolition & Abatement 76,000

3.1 Structural Concrete and CMU 2,958,520

3.2 Lightweight Concrete 132,020

5.1 Structural Steel & Miscellaneous Steel 1,510,000

5.2 EBM 100,000

6.1 Rough Carpentry 1,865,700

7.1 Building Insulation 152,673

7.2 Waterproofing 51,510

7.3 Roofing 132,020

7.4 Sheet Metal 203,564

8.1 Doors, Frames, Hardware & Trim 670,000

8.2 Storefront 540,000

8.3 Windows 335,000

9.1 Exterior 1,221,384

9.2 Drywall 1,119,420

9.3 Tile Work 50,000

9.4 Flooring 407,128

9.5 Painting 405,346

10.1 Toilet, Bath and Laundry Accessories 67,000

10.2 Signage 33,500

10.3 Building Specialties 186,750

11.1 Residential Appliances 234,500

12.1 Cabinets 569,500

12.2 Countertops 167,500

12.3 Window Treatments 33,500
Conceptual Estimate
11205 Washington Boulevard

13.1 Photovoltaic 402,000

14.1 Elevator 360,000

21.1 Fire Sprinklers 305,346

22.1 Plumbing 2,680,000

23.1 HVAC 1,976,500

26.1 Electrical 2,512,500

26.2 Light Fixtures 335,000

27.1 Phone / Data / Television 201,000

27.2 Fire Alarm 201,000

27.3 Distributed Antenna System 150,000

27.4 Security System 96,000

27.5 Access System 50,000

31.1 Grading 101,667

32.2 Shoring 0

32.1 Hardscape 180,000

32.2 Landscape 235,000

32.3 Furnishings 50,000

32.4 Offsite Work 49,000

Jack Wickersham 8/25/2025
Jack Wickersham Date
AMJ Construction Management
[email protected]
213.392.0972
www.amjcm.com

City Council Meeting AgendaJanuary 26, 2026

City Council Meeting Agenda
January 26, 2026