OVERVIEW

• The WESTWOOD21 project is a groundbreaking redevelopment initiative located at 1275 Pryor Road SW, Atlanta, Georgia. It introduces a vibrant, mixed-use platform through the adaptive reuse of an existing industrial property, transforming it into a cutting-edge TV and Film Production Soundstage. With its innovative and urban creative twist, this Class A development aims to transform the neighborhood into a bustling 'Creator Village.' The project optimally utilizes a total gross building area (GBA) of 86,418 SF and a net rentable area (NRA) of 79,890 SF, fostering a dynamic ecosystem around its existing industrial core. The industrial NRA will expand from 32,400 SF to 45,094 SF, establishing the TV and Film Production Soundstage as the heart of this creative community.
• In addition to its industrial component, WESTWOOD21 incorporates a mixed-use tower integrating retail, office, and hospitality services. The ground level features 9,173 SF of retail spaces facing the Atlanta Beltline, followed by an equally extensive, innovative office space on the third floor. Rising above these levels, the top two floors house 47 hotel units, covering a net rentable area of 16,450 SF. These units offer an enticing blend of luxury accommodation and stunning views of the Atlanta Beltline. Emphasizing convenience and accessibility, the project plans include 52 surface parking spaces and 148 structured parking spaces within the 4.32-acre property. Expected to be completed by 2025, WESTWOOD21 aims to be a creative hub, stimulating growth, and opening up new opportunities within the community.

BLACKBRICK GARDENS

• In 2018 Jonathan met Moritz. They set out on a mission to create a global network of apartment hotels where people could stay, work and be free. At the time, Johannesburg was their home. A city with a growing African energy co-anchored by a new CBD in Sandton which was ready for a cultural infusion after having had a few decades of homogenous corporate development. BlackBrick was presented to the market in 2019 after a deep and considered design and planning period. It was met with unprecedented demand; the investor market identifying the value in Sandton’s ?rst ever conversion. In 2020, during the height of the Covid-19 pandemic, Jonathan and Moritz traveled to the USA to lay the foundations for their second part of their network plan - connecting Africa to the world. On the way to the US, they visited Mexico City for their mandatory 15 day quarantine period. Here, they met with Andrew, a South African architect living in Mexico with his family since 2015. For 15 days, they immersed themselves in the city’s culture by walking the streets and discussing the possibilities for an elevated design of a BlackBrick building. BlackBrick Gardens is the first edition born from this collaboration. We think it captures the needs Of the geographically-liberated generation and we look forward to developing this building into a place that becomes an important part of the Cape Town city urban fabric. BlackBrick is building a global network of urban villages for our growing community of digital nomads to live and work freely between cities.

BLACKBRICK APARTMENTS

• A new apartment typology has been invented to create a new way of living. With inspiration from the Victorian row houses in the neighborhood, the units are designed with a stoep at the entrance and a terrace at the back creating a seamless experience between living, working and sleeping spaces. The entrance to each apartment is framed in breezeblock to allow for natural light and ventilation on both sides of the apartment. On the opposite end of the apartment, a planted outdoor space connects you to one of the most well-known nature reserves in the world right outside your door. Our top two floors of apartments introduce a whole new way to stay, with a connected modular design consisting of interleading doors and interchangeable furniture pieces enabling up to four apartments to be merged, accommodating multiple user needs including larger families and groups of travelers looking for the balance between a home and a hotel.

PROPOSED DEVELOPMENT

• PRODUCTION SOUND STAGE The approximately 45,000SF production sound stage will cater to the thriving film and television industry in Atlanta, providing a state-of-the-art facility for the production of feature films, television shows, and other multimedia projects. Utilizing modular structures can both expedite construction/delivery and reduce overall project costs. SPANTECH purports to construct a "fully operational soundstage with 50 dB sound insulation, in less than three months anywhere in the world...SPANTECH's soundproof buildings offer outstanding sound insulation and are fitted with gantries and catwalks." SPANTECH also claims their soundproof studios are cost effective, typically less than half the costs of fixed construction. www.span-tech.com + 50-70 dB sound reduction + From 50 to 328 ft span + Up to 65ft free height + Permanent building codes – as per need + 4,5T hanging loads - up to 25T + Heavy duty floor option
• HOTEL The proposed development includes a 2-story 47 key hotel on the southeast pad of the facing immediately adjacent to the BeltLine. Based on the current site elevations, the hotel will have views of the BeltLine on the south side of the building, and views of Downtown Atlanta from the northern elevation.
• BILLBOARDS There is currently a ground lease on an existing billboard and an advertising management agreement (AMA) on a second billboard, expiring in 2094 and February 2026, respectively. The development team is exploring the option to terminate the agreements and convert to digital billboards to increase potential revenues. Additionally, the development team is considering adding a new, 1,200SF (20X60) digital billboard to the exterior facade of the production sound stage facing 75/85N traffic traveling northbound. 2022 Traffic counts along this section of 75/85N peaked at approx. 300,000 which is projected to increase as the economy continues to rebound from the COVID-19 pandemic. According to a study carried out by the Out of Home Advertising Association of America, OOH advertising of which digital billboards are part of, businesses can expect to see a 497% ROI in terms of revenue and improve the effectiveness of digital search by over 40% for each campaign.
• CREATIVE OFFICE/RETAIL The creative office/retail space will provide a modern and functional environment for creative businesses and entrepreneurs, with ample space for office, retail, and support operations. Located on the 1st and 2nd floor of the building on the southeast pad, the office and retail space will benefit from its direct access and visibility from the Atlanta BeltLine. The flex/greenspace will offer a unique and versatile area for a variety of uses, including outdoor events, community gatherings, and open spaces for relaxation and recreation. This space will provide a valuable addition to the community and enhance the overall development project.
• CELLULAR TOWER The eastern portion of the property includes an approximately 2,500SF pad under a ground lease with Crown Castle for the 150ft cellular tower, which expires in 2052. The lowest antennas currently on the tower are approximately 100 ft high. Any future development plans proposing to increase the height of the existing one-story buildings on the site, or to construct new buildings and/or structures that will exceed the height of the existing buildings, will interfere with Crown Castle's rights under the existing ground lease. This either (a) limits the development team's ability to develop vertically, as any increase in structure height above current conditions will result in compensation to Crown Castle, and potentially their existing customers, for loss of use; or (B) will require the development team to terminate and buy out the balance of Crown Castle's ground lease, and their customers' leases.

OPPORTUNITY ZONE

• The Federal Opportunity Zone program is aimed at promoting investment and economic development in designated low-income communities across the country. The City of Atlanta is one such area that has been designated as an Opportunity Zone, providing significant tax benefits for investors who choose to invest in real estate projects within the zone. The benefits of investing in real estate development within an Opportunity Zone in the City of Atlanta: + Deferred Capital Gains Tax + Reduced Capital Gains Tax + Elimination of Capital Gains Tax + Stimulation of Economic Development Investing in real estate development Opportunity Zone offers investors a unique opportunity to not only enjoy the benefits of tax savings but also contribute to the growth and revitalization of the community. In the City of Atlanta, Opportunity Zones cover parts of disadvantaged, low-income and designated developable areas in the metro Atlanta area.

ATLANTA BELTLINE TAX ALLOCATION DISTRICT (TAD)

• The BeltLine TAD was created in 2005 to provide a local funding source for the implementation, development and construction of the infrastructure required to complete the BeltLine. Funding supports: + Affordable workforce housing + Economic development + Job creation + Public health + Streetscapes + Public art + Environmental clean-up + Historic preservation + Sustainability FUNDING AVAILABILITY PREDEVELOPMENT FUNDS $250,000 max, <70% predev only available for residential development BELTLINE INCREMENT DEVELOPMENT FUNDS $3.5M max Residential rental (25% @ 80% AMI, 20% @ 60% AMI) Residential for sale (25% < 120% AMI) Residential mixed-use (20% of the gross leasable area @ min 20% reduction in market rent)