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CORRESPONDENCE SIEGEL. LIlJMAN, DUNAY. SHEPARD & ~1Y1ISKEL, LLP GARY S. DUNAY KENNETH W. LIPMAN BONNIE MISKEL .JONATHAN L. SHEPARD CARL E. SIEGEL THE PLAZA. SUITE 80 I 5355 TOWN CENTER ROAD BOCA RATON. FLORIDA 33486 WWW.SLDSMLAW.COM LINDA B. LYMAN (561) 368-7700 FAX: (561) 368-9274 tQ November 6, 2007 The Arches Time Extension Additional Justification ,. , I. The following statement provides additional justification to the City to support the applicants need for a time extension for the project known as the "The Arches" located at 500 Ocean Avenue. The current market conditions are a major factor in the stalling of the project. The applicant has been working on creative solutions to this problem in order to make the project move forward and begin beginning construction. After some analysis of current market conditions, the applicant is moving forward with a luxury rental project instead of the previously proposed condominium units. There is a need for upscale rental units within the City of Boynton Beach. With the potential conversion to rental come minor mechanical, electrical, and plumbing modifications. The applicant has currently put the construction plans out to bid for these modifications and intends on beginning this modification process within the next several months. Below details the list of proposed construction changes that the applicant is proposing: Architectural Value Enaineerina Chanaes: . Eliminated 1 floor of the parking gara~e o Amenity deck is now on the 5 floor rather than the 6th o 6th floor residential is now identical to floors yth -15th o Exercise room and Party room are now located on 5th floor. o Unit number will change from 356 to 362, addition of 6 units . Reduce size of Amenity deck o Stair C-3 has been eliminated o 'Storage room' to replace stair C-3 on roof deck to maintain symmetry o Maximum occupancy for smaller roof deck: 625 occupants o Maximum occupied area for smaller roof deck: 19,000 square feet . Eliminated building '0' retail (2-Story) o Northwest corner of parking garage was redesigned to accommodate two loading docks. (151 floor) o Northwest side of plaza where building 'D' used to sit will require a new landscape layout. . Trellis and associated planters on the 151 floor have been eliminated from parking garage fayade . Glass canopy has been removed from first floor at northeast and southeast corners of retail . Eliminated high ceiling and curtain wall system in corner units on 5th and 15th floor. o Roof slabs at both 5th and 15th floor are continuous all the way to corners. o Slab still projects 2'-0" past parapet at corners o Glass balcony guardrail sitting on concrete curb at cornerS where curtain wall used to be. Structural VE Chanaes: Change foundation system from augercast piles to vibroflotation. The applicant feels that progress continues to be made in order to keep the proposed project moving forward in a market that is currently unfavorable towards residential development. The applicant respectfully requests the approval of the requested time extension.