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DEVELOPMENT SUMMARY <br />Hawthorne at Fairmont will be a Class A residential apartment community that provides 294 new luxury <br />units to the City of La Porte. While offering a wide range of residential options — including one, two, and <br />three bedroom floor plans, the interior features and exterior amenities will remain top-notch and exceed <br />similar existing Class A apartment communities in the surrounding cities. <br />Hawthorne at Fairmont has been designed in an urban architectural style, to accommodate the increasing <br />multi -family market demand in LaPorte. Situated on 12.608 acres of land located at the northwest <br />intersection of Fairmont Parkway and Canada, Hawthorne at Fairmont development will serve residents <br />from the increasing petrochemical job growth and economic expansion that is impacting the nearby ship <br />channel. Moreover, this new community will provide luxury apartment options for nearby businesses and <br />working residents in the La Porte vicinity. <br />Rental rates at Hawthorne at Fairmont are projected to range from approximately $1,225 for the smallest <br />one -bedroom units up to $1,995 for the three bedroom units. Residents will be responsible for paying all <br />their utilities and will have the option to rent garages. Additionally, all residents will need to pass criminal <br />background checks and credit checks. <br />At Hawthorne at Fairmont, the interiors will feature luxury kitchens with designer cabinets, stainless steel <br />appliances, luxury plank style flooring, crown molding, granite countertops, full size washers and dryers, <br />and open living areas. Other distinctive features will include pantries, large walk in closets, garden size <br />tubs with enclosed shower areas, and spacious balconies and patios with convenient outside storage. <br />The exterior of Hawthorne at Fairmont will include a pleasurable design of stone, brick, stucco, and <br />cementitious siding construction on the four-story building. This attractive Class -A building will provide <br />a comfortable residential feel situated around an internal courtyards with a heavy use of pleasing <br />landscaping and fencing around the perimeter. The clubhouse will feature a furnished community room <br />with custom home finishes. The building will be elevator served and the development will include a <br />fitness center, outdoor grilling areas, along with a resort style swimming pool in the interior courtyard. <br />Additionally, Hawthorne at Fairmont will be a gated access community and have detached garages and <br />covered parking options for most units. <br />Hawthorne at Fairmont complies with La Porte's zoning ordinance except that the development will need <br />to obtain a variance for four items. First, the zoning ordinance only allows 14 units per acre. Hawthorne <br />at Fairmont's proposed density is 23.4 units per acre. Second, the zoning ordinance limits multifamily <br />developments to 180 units. Hawthorne at Fairmont is proposing 295 units. Third, the zoning ordinance <br />states that buildings cannot exceed 45 feet in height. With the proposed building being a four story, <br />elevator served building, the height of the building would be 60 feet. Fourth, the zoning ordinance <br />prevents multifamily residential developments within 1,000 feet of each other if they are larger <br />multifamily developments. If this distance is measured from building to building, then our proposed <br />development would be more than 1,000 feet from the closest other multifamily development; however if <br />this distance is measured from property line to property line, we would be within 1,000 feet of another <br />senior multifamily development on the other side of Canada. <br />