May 5, 2009

Second + PCH vs. Lennar, Square Footage

Following is a comparison of the Lennar project with the Second + PCH project. Information obtained to complete the Lennar portion was obtained from the Environmental Impact Report (EIR). The Second + PCH project information was obtained from www.secondandpch.com on 4/29/2009.

Table 1: Comparison of Project Components

 

Second + PCH

Lennar

Retail

220,000 ft2

170,000 ft2

Residential:

Condos

Assoc. w/ Hotel

TOTAL

-

240 units

85 units

325 units

-

335,000 ft2

160,000 ft2

495,000 ft2

-

425 units

        n/a       

425 units

-

593,000 ft2(1)

        n/a       

593,000 ft2

Hotel

100 rooms

70,000 ft2

n/a

n/a

Max. Building Height

12 stories (163 ft.)2

5 stories (68 ft.)

Open Space

40%

20%

1. The Lennar EIR did not contain square footage information for the proposed condos/townhomes. The Lennar square footage number, therefore, was calculated using the numbers provided by Second + PCH (335,000 ft2/240 units = 1,395 ft2 per unit * 425 units = approx. 593,000 ft2). This is an approximation only.

2. The Second + PCH development team has not identified the height (in ft.) of their 12-story building. This number was calculated proportionally using Lennar's information (5 stories = 68 ft., therefore 12 stories = 163 ft.) This is an estimate only.

The current Seaport Marina hotel is 164,736 ft2.

The Second + PCH Project is approximately 785,000 ft2.

The Lennar Project was approximately 763,000 ft2.