September 14, 2005 ATTACHMENT 1
501 Eastowne Associates, LLC PO Box 97608 Raleigh, NC 27624 Phone: 91 9.599.3093
Mr. Calvin Horton Town Manager Town of Chapel Hill Fax: 91 9.967.8406
Subject: Eastowne 501 OFFICE BUILDING SPECIAL USE PERMIT Request for extension of Construction Completion Time Limit From November 12,2005 to November 12,2006.
Dear Mr. Horton:
In accordance with Chapel Hill Land Use Management Ordinance Article 4.5.5 (c) (2), the undersigned hereby requests a twelve (12) month extension of the completion time limit of the Special Use Permit from November 12,2005 to November 12,2006.
This request is made within 60 days prior to the expiration of the completion date as set forth in the Special Use Permit.
We are rapidly progressing with the development of the building including the following:
1. Finalized architectural and engineering drawings.
2. Submitted request for final ZCP in June, 2005 and received final ZCP on August 10, 2005.
3. Received building permit on August 16, 2005.
4. Finalized construction contract with general contractor, The Resolute Building Company.
5. Closed on the acquisition of the land on August 18, 2005
6. 100% of the required financing for the project has been secured including investor equity and a construction loan with SunTrust Bank closed on August 18, 2005.
7. Began sitework on August 22, 2005. As of the date of this letter:
• All erosion control and tree fencing has been installed
• All tree clearing has been completed
• Nearly 2,000 cubic yards of unsuitable soils have been removed and replaced
• All major steel for the building has been ordered ($582,000 of non-refundable orders)
• A detention pond skimmer has been installed
• A storm-drain culvert (3-36"diameter pipes with concrete footings and headwalls) has been installed at the Old Sterling Drive entrance.
8. Completed the first letter of intent for the potential first buyer of space within the building.
9. By November 12, 2005, the following is scheduled for completion (weather permitting):
• Completion of all site grading
• Completion of foundations
• Completion of retaining walls
• Steel delivered on site: partial steel erection.
• Curb and gutter placed, with stone base for paving in place.
Weather permitting, we are scheduled to have the building ready for its first occupants by Spring or early Summer, 2006. Sense we have now sunk major, non-refundable financial resources into this project including land closing, sitework and major material orders, we are heavily motivated to finish the building as soon as possible. We are requesting a twelve (12) month extension to allow for any potential unforeseen, unavoidable delays in construction such as weather delays.
Attached is a letter from The Resolute Building Company outlining current progress as well as photographs of the site.
Mark Andrews, Manager 501 Eastowne Associates, LC
cc: Ms. J.B. Culpepper
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