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4221 Wilkie Way

Lot A:

2nd Floor:
Plywood installation for floor 100% complete.
Wall panelling layout completed.
Wall setting: Work in progress.

Lot B:

1st Floor: Will start with column installation the next week.

Please find attached recent site images for reference.


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Lot A
100% progress in the foundation work for the project. The panels have arrived at our warehouse, next step to move forward with the framing process, which will commence promptly.

Lot B
The foundation work for the project has been successfully completed. The panels have arrived at our warehouse, we are moving forward with the framing process, which will commence promptly.

Financing: The construction loan is secured and closed. We have closed on our final round of prefered equity investment.

 

Also we are raising a Preferred equity round of 200k for intrest reserve of construction financing on this project with a very short 6 months term. We are offering 15% preferred return and 5% profit sharing on your investment. 


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1. Construction: We have completed the grading, Currently we are working on the excavation which is 90% completed. We are also working on the Fabtication of Rebar which is cut and shaped to detailed specifications in a construction design to create proper lengths

2. Financing: The construction loan is secured and closed.


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1. Building Permit: 

Lot A: As confirmed by the City, the JADU deed is expected to signed by City director today  & it shall be recorded at the County by end of the week. 

Lot B: The project plans are fully approved & the JADU Agreement is successfully recorded for this parcel. We await fee details from the city, once paid the building permit will be issued.

We expect to begin with grading activity by week end.

2. Financing: The construction loan is secured and closed.


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1. Building Permit: 

Lot A & B: We had the Public Works inspector visit our site this week as they were on vacation earliear to review Off-site improvements. We are awaiting further directions from the City on updating any measurements on the site plan accordingly. We look forward to submit sets to the City early next week as all other comments are addressed. 

2. Financing: The construction loan is secured and closed.


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As a milestone, we are hard on contract for both our lots & looking forward to soon announcing returns for our esteemed investors.

We are working on getting the existing house de-constructed as per City's instructions in order to get the Final Parcel Map recorded. We also continue to follow-up to receive approval on both IR sets. 


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1. Deconstruction: The deconstruction inspection was scheduled for the last week, and we are waiting on Green Halo approval by them.

2. IR Approval: We have already received the IR approval letter for Lot A as well as Lot B.

3. Building Permit: We are working with our team to complete the building permit sets. We have already received Structural, Title 24 & MEP calculations. As a milestone we have received the updated address for both the lots. The submittal for Lot A was done last week and the submittal for the second Lot is expected in the next week!

4. Financing: We are working on the final diligence items from the lender and will be awaiting the loan documents in next week itself.


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On the final map track we have resubmitted the updated plans to the city awaiting approval from the city director/surveyor for the final approval. We have addressed most of the comment on the IR package for both the lots and continued to engage with our neighbours to get early feedback on the designs and address them by working closely with our architect. This week we have also developed beautiful 3D renders of the floor plans.


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We have received the Final feedback on the Parcel Map track & the plans are approved with very minor redlines which we look forward to address next week. We have meeting scheduled with City Planners next week to ensure all comments are addressed as per requirements & then resubmit for Final IR. As the next milestone, we look forward to be scheduled for Planning commission in next 8-9 Weeks.


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We are working closely with all our consultants to address the few of the last comments pending on two lots and also coordinating with the city to get early review feedback on the same, this to ensure we don't receive any further comment on the IR track. We are also engaging with neighbours as part of our community engagement initiative to take their feedback on the proposed designs.


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We are following up with the city of Palo Alto for the feedback on our final map submittal which is expected early next month. We have compiled the set for both the lots and look forward to resubmit the same.


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We have the new elevations ready with 3D renderings which reflects the character of ultra modern home for both the lots. Majority of the comments has been addresed and we are on track to submit the package.


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The final map package has been submitted to the city and we are further reviewing the IR submittal set with our consultant as well as developing new 3D render for the project, which we are considering to resubmit next week


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We have compiled the final map submission set and are targeting submission number 2 in the early next week. This week we had a meeting with the city planner with respect to IR comments, majority of them have now been closed and we are looking forward to resubmit the packages for Lot A and Lot B in the week after next week. 


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As informed last week, we are continuing to work on the comments received on the IR submittal set. We are also working on completing all the demolition permit requirment for which Asbestos testing report is received 


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We have received the comments on IR submitted by the city on both the lots and we are currently reviewing the same with the architect. Also we have received additional comments from city engineer on our final parcel map package this week and the set will be compiled and submitted to the city in the following week.


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We are working with Joe Velasco a reputed realtor to start testing the market for the two ultra homes. We are following up with the city planner to receive the feedback on our IR submitted.

 


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This week we successfully logged the Final Parcel Map submission in the intake meeting with Planner assigned at City of Palo Alto and look forward to receiving the feedback in last week of May. We are working closely with the Landscaping Architect & Civil Engineers to complete the IR Submittal Set early next month and our team is making amazing 3D Renders for the two Ultra-modern homes.


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As a milestone, this week we have received the Final Approval for Sub-Division from the City Director & there were no appeals filed against the proposed project. We have made significant progress in designing the two new Ultra modern homes and looking forward to compile the Architectural Submission Set for Preliminary IR Review.


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As confirmed by the City this week, our Sub-Divison Application is Approved & are tentatively scheduled for Director's Hearing on March 4th, 2021. Also, as per HRE the property is classified 'Non-Historic'. We are preparing our Planning Drawings set as we go through the hearing phase.


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We are completing with the Rental agreement process as we look forward to welcome new tenants in the property while going through the permitting process.

We are closely following up with the City of Palo Alto for subdivision approval which is scheduled for review completion next week. We have also proactively planned for our Architectural submission.


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As confirmed by our Planner at The City of Palo Alto, we are expecting the Sub-Division Approval by next week and the City hearing will be scheduled early in the month of March. In the mean time, we are preparing the Architectural Plans for the lots and have been successful to lease out the property while going through the permitting process.


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We are eagerly looking forward to receiving the approval on our Sub-Division Application from the City of Palo Alto expected by mid of this month. We are also following up on getting Historic review done for the property and finishing up with the Architectural designs for the proposed Ultra-modern homes in both Lots.


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As informed last week, we successfully made subdivision re-submission to the City of Palo Alto. We are currently awaiting the City of Palo Alto review. We have been given a timeline expectation for the middle part of next month, for when the City of Palo Alto will complete their review. We have also submitted an application for the Property Historic review and completed the Floor Plan designs of the proposed Ultra-modern homes in Lot-1 & 2.

We are also following up with the rental leads as we plan to lease the property while going through the approval process.


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We have completed the subdivision re-submission to the City of Palo Alto after a thorough review with the Planners this week. We have also made significant progress on architectural design for the ultra-modern homes Lot-1 & 2.

We are also following up with the rental leads as we plan to lease the property while going through the approval process.


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We have re-submitted the Sub-division plans for review to the City Planner and have a meeting scheduled with the Planning officer to review our proposed architectural design for the ultra-modern homes early next week.

We are also working to try to find a renter.


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We are working closely with our Civil Engineer & the City Planning staff to turn around the Subdivision application resubmission early next week. We have also made good progress with architectural design for the proposed two single-family ultra-modern homes. We are also working to try to find a renter.


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As informed last week, we are working on the Subdivision application resubmission as per comments from City and also made some good progress with architectural designs for the proposed two single-family ultra-modern homes. We are following up with leads on property rental as well.


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We have received comments on the Subdivision application from City this week and working with the Civil Engineer on preparing for re-submission. Also made some good progress with architectural designs for the proposed two single-family ultra-modern homes. 

We are following up with several leads on property rental as well.


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We are following up with leads on property rental also our in-house design team is preparing the Architectuaral design & plans for the proposed Two Single Family Ultra Modern Homes. We are continuously following with our City Planner for moving ahead in Permitting process.


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As announced last week, we are working on the Architectuaral design & plans for the proposed Two Single Family Ultra Modern Homes. Also moving ahead with Permitting process.


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As announced last week, we have closed the Escrow for the Project & have got good response on the rental listing for the property.

We are working In-house on the Architectuaral design & plans for the proposed Two Single Family (5 bedroom + 4 bath) Ultra Modern Homes and following up with the City Planner for EIA Approval.


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We are pleased to announce that we have closed the Escrow for the Project last week & we are working on the design development for the proposed Two Single Family Ultra Modern Homes.

The Proposed Project Noticing Sign from City of Palo Alto is put up on the parcel and we have successfully listed the house for rent.


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We are excited to announce that our application for Sub-division process of the Wilkie Way plot into two parcels of approx. 6,015 sq.ft. has been approved by the City of Palo Alto and we have received our Planning Permit ID.  This week we initiated the raising of new Preferred Equity the project and we were successful to receive $1M investment.

Each of the homes will include modern luxury with top of the line designer-selected upgrades including high-end cabinets, granite countertops and true hardwood flooring. Both of the homes are proposed to 5 bedrooms and 4 bathrooms, and have spacious open floor plans with tons of windows and natural light.


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