Page 8 - GSP_Granary_Gateway_OM_Debt

Phase I Timeline Project Overview

Construction Start As part of the first phase redevelopment of the south tower, the
(Q4 2020)
existing hotel rooms will be renovated as studio apartment units with
features such as in-home washer/dryers; kitchenettes equipped with
a refrigerator, microwave, and range; and a standard FF&E package in
available furnished units. A simplistic “bundled” pricing model inclusive
10 months
of utilities, Wi-Fi, parking, trash concierge, and amenity access will be
Construction Completion offered.
(Q3 2021)
The building will feature hotel-inspired common spaces including 8,000
square feet of resident amenities on the 13th floor of the building with
unobstructed views overlooking Salt Lake City. Amenities on this level
will include a social lounge, a bar, a library, coworking-style space, and a
3,000-square-foot fitness facility with 1,000 square feet of studio space.
Lease Up Start
(Q4 2021) On the ground floor, former hotel BOH and circulation spaces will be
converted to additional apartment units and public spaces including
a sales and leasing office, a revamped elevator lobby, a new mailroom,
bike storage, and a new entrance on the east side of the building with
improved access to resident parking.

Stabilization
(Q4 2022)

8 | GRANARY GATEWAY