The proposed project, "Abbot Lofts," is located at 1645-1657 Abbot Kinney Boulevard, at the northeast corner of Abbot Kinney and Venice. The site is currently vacant. The proposed mixed use project is in the design stages and is expected to include 22 "for rent" residential loft units above approximately 5,000 square feet of ground floor, neighborhood serving retail space. As currently contemplated, the project will provide two affordable units at the very-low income level and 20 market rate apartments. All code required parking is anticipated to be provided on-site.

The following information is PRELIMINARY and subject to change as the design progresses but is intended to provide some basic information about the proposed project size, configuration and relation to the Venice Specific Plan.

While the exterior elevations have yet to be finalized, the proposed project will be of a modern design in keeping with the eclectic nature of the neighborhood. The property will be built to the property line on the Abbot Kinney frontage (to maintain a consistency with other projects along the Blvd). At the Venice frontage, the building will be setback approximately 10-15 feet from the sidewalk. The majority of this open space will be improved with landscape and hardscape. Importantly, the signature cluster of palm trees at the corner of Abbot Kinney and Venice will remain.

Abbot Lofts is intended to be a true neighborhood mixed use project designed to embrace the gateway nature of this important site. The ground level will include space that can be divided into approximately 1,000-1,500 sf areas which are intended to draw retail interest to the southern portion of abbot Kinney. The residential loft units, located on the project’s upper floors, will be separated from the retail space. Individual units will be designed to maximize flexible living by incorporating natural light and a variety of unique interior spaces. A combination of private and shared open space will be provided for residents on the second floor level. Project parking, all of which will be provided on site and entered from the alley, will be a combination of on-grade and subterranean.

AKMU LLC is the project applicant with Tooley Interests as the managing member.

Tooley Interests is a Los Angels based company that was formed to acquire and develop high quality, residential-based mixed-use projects. Prior to forming TI, Patrick Tooley (President of TI) was a Project Director responsible for the development of several mixed use projects in San Francisco and on the San Francisco Peninsula including Magnolia Place, a project with 27 apartment units over 10,000 sf of retail; Shipley Square, a project with 78 apartment units over 10,000 sf of retail and Marlin Cove, a project with 280 residential units and 85,000 sf of commercial and retail space. AKMU’s contact information follows:

AKMU LLC

Attn: Patrick Tooley

11150 Santa Monica Blvd. #230

Los Angeles, California 90025

Phone: 310-575-9750

Facsimile: 310-575-9739