Early Predevelopment & Due Diligence

Norwood Studios Live & Work is progressing through an organized predevelopment and due-diligence process focused on determining whether the preliminary redevelopment vision can advance into a technically feasible and financially sustainable project.

TTC Trust owns and controls the project property. TheGreen Spot LLC provides property and project management services on behalf of TTC Trust, and Thipalom serves as Project Manager for TTC Trust.

The current phase emphasizes information gathering, evaluation of site conditions, preliminary project planning, public-agency coordination, professional outreach, and preparation for future technical, financial, design, entitlement, and implementation decisions.

Nothing has been approved. No final development plan, site plan, architectural or engineering design, entitlement, permit, financing commitment, development partnership, construction contract, or development schedule has been approved or established.

Progress to Date

Predevelopment activities completed or initiated to date include:

• Confirmation of long-term site control
• Development of the preliminary redevelopment vision
• Preparation of conceptual site plans, renderings, and project materials
• Initial coordination with representatives of the City of Sacramento
• Preliminary review of infrastructure, utilities, and the existing storm-drain easement
• Research into workforce and mixed-income housing strategies
• Evaluation of potential development incentives and financing resources
• Creation of project materials and the website for professional outreach and strategic-partner engagement

Current Due-Diligence Focus

Current evaluation includes:

• Property boundaries and parcel configuration
• Zoning and land-use requirements
• Site access and circulation
• Infrastructure and utility capacity
• Storm-drain easement conditions
• Housing and mixed-use development potential
• Market and financial feasibility
• Construction methods and preliminary cost considerations
• Potential incentives and financing approaches
• Development and partnership structures

These evaluations are preliminary and are intended to identify the professional studies and technical work required for the next stage of development.

Development Potential Under Evaluation

As part of the project's ongoing predevelopment and due-diligence process, TheGreen Spot LLC is coordinating preliminary evaluation of applicable land-use and development standards, including Floor Area Ratio (FAR), on behalf of TTC Trust, to better understand the site's potential development intensity.

The current conceptual vision primarily illustrates a two-story development. However, building height, density, unit count, and overall development intensity have not been determined.

If applicable City of Sacramento land-use and development standards allow greater development intensity, and additional development proves technically and financially feasible, the property may have the potential to support a different building configuration or additional stories.

Nothing has been approved. Any potential change in building height, density, unit count, site configuration, or development program remains subject to professional analysis, engineering, financial feasibility, applicable development standards, and required governmental approvals.

Professional Work Required

Qualified professionals are expected to assist with or complete work including:

• Boundary and topographic surveys
• Title and easement review
• Land-use and zoning analysis
• Civil engineering and site-feasibility analysis
• Utility-capacity verification
• Drainage and stormwater engineering
• Environmental review, as applicable
• Architectural programming and site planning
• Parking, circulation, accessibility, and fire-access review
• Construction cost estimating
• Market and rental-demand analysis
• Workforce and affordable-housing feasibility
• Development budgeting and operating projections
• Financing and capital-structure analysis
• Entitlement and permitting strategy
• Legal documentation for future project and partnership arrangements

Current Objective

The immediate objective is to assemble the appropriate professional expertise needed to determine:

• What can realistically be developed on the site
• How existing site conditions affect development potential
• Whether the preliminary program is technically and financially feasible
• Which incentives and financing resources may be applicable
• What studies, permits, and governmental approvals will be required
• Whether the project should advance as currently envisioned, be refined, phased, or otherwise adjusted

Project Status

Norwood Studios remains a conceptual redevelopment vision in early predevelopment and due diligence.

No final site plan, architectural or engineering design, entitlement approval, permit, financing commitment, development partnership, construction contract, or development schedule has been established.

Conceptual plans, renderings, unit counts, building configurations, amenities, construction methods, development costs, affordability scenarios, financing concepts, and partnership structures remain subject to professional evaluation, technical and financial feasibility, negotiated agreements, and applicable governmental approvals.