Plaza Mexico. San Antonio, Texas

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2 TABLE OF CONTENTS 1. TABLE OF CONTENTS 2. SITE LOCATION MAP 3. OVERALL SITE PLAN 4. RENDERED SITE PLAN 5. THE PLAZA MEXICO SITE PLAN 6. THE PLAZA MEXICO PROPOSED LEASE PLAN 7. VIEW TO THE NORTH FROM THE CORNER OF N. ELLISON DR. AND W. MILITARY DRIVE 8. THE PLAZA MEXICO RENDERING. 9. DESIGN PHOTOS 10. DESIGN PHOTOS 11. PLAZA MEXICO GENERAL INFORMATION 12. WESTOVER HILLS MASTER PLAN PRICING SHEET & PLAZA MEXICO DEVELOPMENT PROFORMA 13. SAN ANTONIO VISITOR INFORMATION SOCIO ECONIMIC BENCHMARK CONSUMER EXPENDITURE SUMMARY REPORT 20. DEMOGRAPHICS 21. WEST SAN ANTONIO RESIDENTIAL LOT GROWTH WEST SAN ANTONIO TRADE AREA METROSTUDY POSTAL COUNTS ARTICLES 40. TREC REPORT 41. POTENTIAL IMMIGRATION BENEFITS LETTER OF INTENT

3 13,400 c.p.d. Wiseman Westover Hills Ingram Park Mall 20,000 c.p.d. Loop ,000 c.p.d. Ellison Dr. W. Military Site 80 Acres Dugas Stevens High School W. Military Hyatt Hill Country Vacation Club HWY 151 Warren High School 39,000 c.p.d. Culebra Potranco 16,600 c.p.d. RichlandHills LOOP ,000 c.p.d. SOUTHWEST RESEARCH Potranco 15,900 c.p.d. HWY ,000 c.p.d. Site Location Map NOT TO SCALE 2

4 Restaurant ST. HWY. 151 Vallero WESTOVER HILLS BLVD. Future NISD Middle School W. MILITARY DR. Overall Site Plan NOT TO SCALE 3

5 St. Hwy. 151 Parcel 1 Parcel 2 Parcel 3 Parcel 4 Parcel 6 Parcel 7 Parcel 8 Parcel 9 Lake Parcel 10 Parcel 5 Parcel 14 Parcel 11 Office 2 Parcel 12 Parcel 13 Condo. 1 Condo. 2 W. Military Dr. Office 1 N. Ellison Dr. Site Plan NOT TO SCALE Retail Office Condominium Hotel

6 Retail PM-10 19,450 PM-1 17,500 PM-2 19,668 PM-9 15,400 PM-8 10,325 PM-3 20,270 PM-7 7,700 PM-4 5,250 PM-6 8,500 PM-5 6,300 W. Military Dr. N. Ellison Dr. The Site Plan NOT TO SCALE 5

7 The Plaza Mexico Proposed Lease Plan NOT TO SCALE PM-1 = PM-2 = PM-3 = PM-4 = PM-5 = PM-6 = PM-7 = PM-8 = PM-9 = PM-10 = TOTAL 17,500 S.F. 19,688 S.F. 20,270 S.F. 5,250 S.F. 6,300 S.F. 8,500 S.F. 7,700 S.F. 10,325 S.F. 15,400 S.F. 19,450 S.F. 130,383 S.F. 6

8 St. Hwy. 151 N. Ellison Dr. W. Military Dr. View to the North from the corner of N. Ellison Dr. and W. Military Dr. 7

9 The Shops at 8

10 9

11 10

12 PLAZA MEXICO GENERAL INFORMATION - OVERALL SITE: 80 ACRES Retail: Parcel 1: 3.62 acres Parcel 2: 2.55 acres Parcel 3: 2.52 acres Parcel 4: 2.48 acres Parcel 5: 2.49 acres Parcel 6: 2.34 acres Parcel 7: 2.02 acres Parcel 8: 2.09 acres Parcel 9: 1.39 acres Parcel 10: 2 acres Parcel 11: 5.49 acres The : acres Retail Space: 130,000 s.f. Office: Condominium: acres Office 1: 200,000 g.s.f. Office 2: 200,000 g.s.f acres Lake Area: Right of Way: Vicinity Map nts N. Ellison Dr. 3.8 acres 6.18 acres loop 1604 Westover Hills Blvd. Proposed Site St. Hwy. 151 W. Military The Shops at Conceptual Design Narrative The Design of The Shops at is intended to convey the essence of a shopping experience in Old Mexico but be located near some of the main tourist attractions in. It will consist of variety of craft focused shops and restaurants ranging in square footage from less than one thousand square feet to more than ten thousand square feet each. The exterior shells of buildings will be made of economic materials perhaps concrete tilt wall construction with steel joists which have been enhanced with traditional Mexican building materials. The faces of the buildings will be decorated with carved stone highlights at the main entry points and a cantera stone wainscot through out. The facades will generally be a mix of stucco finishes and details painted in bright and mute colors. Featured entries may have domed cupolas with ceramic tile highlights. The interior courts will be paved with stained concrete and have highlights of natural stone and masonry at the main intersections and entries. The center court will contain a large gazebo that could serve as a band shell or a stage. Along the pathways there will be a variety of fountains, trellises, arcades and seating areas. The entries will be punctuated buy large multi-level fountains or statuary. The storefronts will feature a variety of materials including wood, steel and aluminum and will be shaded with deep arcades, canvas awnings, and decorative steel canopies either supported off of the buildings or on columns. The landscaping will be colorful and appropriate to the architecture. The goal of the architecture will be to create a unique environment for specialty shops that have a Mexican theme. Building 1: Parking Garage: Residential: Building 2: Parking Garage: Residential: 60,000 s.f. 120,000 s.f. 60,000 s.f. 120,000 s.f. north loop 410 Note: All acreage and square footages are approximate. 11

13 Westover Hills Master Plan Pricing Sheet Pad Sites Acreage Sq. Feet Price Per SF Total Parcel ,687 $11.00 $1,734,559 Parcel ,078 $11.00 $1,221,858 Parcel ,771 $12.00 $1,317,254 Parcel ,029 $12.00 $1,296,346 Parcel (Hotel) ,066 $12.00 $1,536,797 Parcel ,930 $12.00 $1,223,165 Parcel ,991 $14.00 $1,231,877 Parcel ,040 $15.00 $1,365,606 Parcel ,548 $22.00 $1,332,065 Parcel ,120 $15.00 $1,306,800 Parcel ,144 $7.50 $1,793,583 Retail Center Parcel ,288 $9.00 $7,013,596 Condominium Parcel ,524 $8.00 $1,676,189 Office Sites Parcel ,607 $5.00 $3,818,034 Development Proforma 7/26/07 Item Cost Per Sq. FT. of Building Notes Land $6,664,680 $ acres at $9.00 psf Site Work $4,909,513 $37.77 Shell Building $8,557,900 $ Architectural $300,000 $2.31 Structural Engineering $200,000 $1.54 Civil Enginerring $200,000 $1.54 Testing $25,000 $0.19 Permiting $10,000 $0.08 Geotech $10,000 $0.08 Environmental $10,000 $0.08 Tap fees $50,000 $0.38 Development Fee $538,697 $4.14 4% Contingency $538,697 $4.14 4% Project Total ,034,825 Construction Interest $648,000 $4.98 Lake ' r.o.w Total Development Costs $22,662,486 $ Total Acreage

14 San Antonio Visitor Information Venue No. of Visitors per Year San Antonio Visitors 21.3 Million Rivercenter Mall 19 Million San Marcos Outlet Malls 6 Million Convention/Business 3.9 Million The Alamo 2 Million Sea World * Shops at La Cantera * Six Flags Fiesta Texas * Information provided by the San Antonio Area Tourism Council * Proprietary information not available VISITOR INFORMATION 13

15 Socio Economic Benchmark Report Socio Economic Benchmark Report ST HWY 151 & MILITARY DR W SAN ANTONIO TX Coordinates Longitude: Latitude: Mile Ring sq/mi POPULATION 2000 Population 3,207, Population 3,571, Population 3,913,212 % Population Change % % Population Change % Population in Group Quarters (2000) 96,998 Population in Group Quarters (2005) 101,223 Population in Group Quarters (2010) 101,222 HOUSEHOLDS 2000 Households 1,162, Households 1,263, Households 1,358,541 % Households Change % % Households Change % Average Household Size (2000) 2.7 Average Household Size (2005) 2.7 Average Household Size (2010) 2.8 FAMILIES Family Households (2000) 791,609 Family Households (2005) 838,205 Family Households (2010) 881,221 Non-Family Households (2000) 370,829 Non-Family Households (2005) 425,321 Non-Family Households (2010) 477,319 Population in Family Households (2000) 2,629,343 Population in Family Households (2005) 2,884,867 Population in Family Households (2010) 3,133,252 Population in Non-Family Households 481,221 (2000) Population in Non-Family Households 585,362 Source: Applied Geographic Solutions Page MapInfo Corporation Copyright Troy, New York. All rights reserved ST HWY 151 & MILITARY DR W SAN ANTONIO TX Coordinates Longitude: Latitude: (2005) Population in Non-Family Households (2010) Mile Ring sq/mi 678,737 INCOME Per Capita Income (2000) $20,104 Per Capita Income (2005) $21,856 Per Capita Income (2010) $23,824 Average Household Income (2000) $55,444 Average Household Income (2005) $60,689 Average Household Income (2010) $67,508 Median Household Income (2000) $41,655 Median Household Income (2005) $46,351 Median Household Income (2010) $52,311 Average Family Income (2000) $62,763 Average Family Income (2005) $69,971 Average Family Income (2010) $76,865 Median Family Income (2000) $49,399 Median Family Income (2005) $54,528 Median Family Income (2010) $59,762 Aggregate Income (2000) $64,484,520,4 59 Aggegrate Income (2005) $78,059,399,9 85 Aggegrate Income (2010) $93,229,632,4 59 HOUSEHOLD INCOME Household Income <$10,000 (2000) 110,541 Household Income $10,000-$14,999 (2000) 70,623 Household Income $15,000-$19,999 (2000) 73,175 Household Income $20,000-$24,999 (2000) 78,863 Household Income $25,000-$29,999 (2000) 77,242 Source: Applied Geographic Solutions Page MapInfo Corporation Copyright Troy, New York. All rights reserved

16 Socio Economic Benchmark Report Socio Economic Benchmark Report ST HWY 151 & MILITARY DR W SAN ANTONIO TX Coordinates Longitude: Latitude: Mile Ring sq/mi Household Income $30,000-$34,999 (2000) 79,157 Household Income $35,000-$39,999 (2000) 69,745 Household Income $40,000-$44,999 (2000) 66,057 Household Income $45,000-$49,999 (2000) 59,225 Household Income $50,000-$59,999 (2000) 106,078 Household Income $60,000-$74,999 (2000) 119,150 Household Income $75,000-$99,999 (2000) 115,804 Household Income $100,000-$124,999 58,597 (2000) Household Income $125,000-$149,999 28,043 (2000) Household Income $150,000-$199,999 24,865 (2000) Household Income $200,000+ (2000) 25,272 Household Income < $10,000 (2005) 112,975 Household Income $10,000-$14,999 (2005) 66,771 Household Income $15,000-$19,999 (2005) 70,955 Household Income $20,000-$24,999 (2005) 74,860 Household Income $25,000-$29,999 (2005) 71,064 Household Income $30,000-$34,999 (2005) 74,501 Household Income $35,000-$39,999 (2005) 74,046 Household Income $40,000-$44,999 (2005) 69,956 Household Income $45,000-$49,999 (2005) 61,533 Household Income $50,000-$59,999 (2005) 109,275 Household Income $60,000-$74,999 (2005) 132,059 Household Income $75,000-$99,999 (2005) 145,688 Household Income $100,000-$124,999 84,356 (2005) Household Income $125,000-$149,999 42,493 (2005) Household Income $150,000-$199,999 32,891 (2005) Household Income > $200,000 (2005) 40,104 Household Income < $10,000 (2010) 115,142 Household Income $10,000-$14,999 (2010) 62,504 Household Income $15,000-$19,999 (2010) 64,868 Source: Applied Geographic Solutions Page MapInfo Corporation Copyright Troy, New York. All rights reserved ST HWY 151 & MILITARY DR W SAN ANTONIO TX Coordinates Longitude: Latitude: Mile Ring sq/mi Household Income $20,000-$24,999 (2010) 70,860 Household Income $25,000-$29,999 (2010) 70,372 Household Income $30,000-$34,999 (2010) 75,913 Household Income $35,000-$39,999 (2010) 62,167 Household Income $40,000-$44,999 (2010) 58,752 Household Income $45,000-$49,999 (2010) 71,723 Household Income $50,000-$59,999 (2010) 121,756 Household Income $60,000-$74,999 (2010) 128,332 Household Income $75,000-$99,999 (2010) 161,307 Household Income $100,000-$124, ,950 (2010) Household Income $125,000-$149,999 68,772 (2010) Household Income $150,000-$199,999 57,617 (2010) Household Income > $200,000 (2010) 55,507 EDUCATION Population Age 25+ (2000) 1,984,078 Less than 9th grade (2000) 199,851 9th-11th grade No Diploma (2000) 210,628 High school graduate (incl equiv) (2000) 471,358 Some college No Degree (2000) 457,123 Associate Degree (2000) 110,123 Bachelor's Degree (2000) 348,774 Graduate or Professional Degree (2000) 186,221 Population Age 25+ (2005) 2,244,303 Less than 9th Grade (2005) 240,722 9th-12th Grade No Diploma (2005) 248,068 HS Graduate (2005) 585,589 College No Diploma (2005) 441,963 Associate Degree (2005) 137,281 Bachelor Degree (2005) 395,989 Graduate or Prof School Degree (2005) 194,691 Population Age 25+ (2010) 2,507,279 Less than 9th Grade (2010) 251,101 Source: Applied Geographic Solutions Page MapInfo Corporation Copyright Troy, New York. All rights reserved

17 Socio Economic Benchmark Report Socio Economic Benchmark Report ST HWY 151 & MILITARY DR W SAN ANTONIO TX Coordinates Longitude: Latitude: Mile Ring sq/mi 9th-12th Grade No Diploma (2010) 259,837 HS Graduate (2010) 690,191 College No Diploma (2010) 443,467 Associate Degree (2010) 171,904 Bachelor Degree (2010) 462,344 Graduate or Prof School Degree (2010) 228,435 MARITAL STATUS Never Married (2000) 698,919 Married Spouse Present (2000) 1,247,090 Married Spouse Absent (2000) 145,945 Widowed (2000) 132,804 Divorced (2000) 262,801 Never Married (2005) 766,792 Now Married (2005) 1,396,635 Separated (2005) 171,149 Divorced (2005) 295,443 Widowed (2005) 142,991 Never Married (2010) 842,563 Now Married (2010) 1,492,154 Separated (2010) 223,211 Divorced (2010) 342,124 Widowed (2010) 151,581 HOUSEHOLD BY TYPE Family Married Couple w/ Children (2005) 310,500 Family Male No Wife w/ Children (2005) 36,341 Family Female No Husband Children (2005) 123,723 Family Married Couple No Children (2005) 300,328 Family Male No Wife No Childen (2005) 25,773 Family Female No Husband No Children 41,540 (2005) Non-Family 1 Person Male (2005) 161,386 Non-Family 1 Person Female (2005) 198,320 Non-Family 2+ Pers Male Head Children 1,550 (2005) Source: Applied Geographic Solutions Page MapInfo Corporation Copyright Troy, New York. All rights reserved ST HWY 151 & MILITARY DR W SAN ANTONIO TX Coordinates Longitude: Latitude: Mile Ring sq/mi Non-Family 2+ Pers Female Head Children 884 (2005) Non-Family 2+ Pers Male Head No Children 31,340 Non-Family 2+ Pers Female Head No 31,840 Children Family Married Couple w/ Children (2010) 311,689 Family Male No Wife w/ Children (2010) 40,575 Family Female No Husband Children (2010) 144,099 Family Married Couple No Children (2010) 314,028 Family Male No Wife No Childen (2010) 30,599 Family Female No Husband No Children 40,231 (2010) Non-Family 1 Person Male (2010) 184,933 Non-Family 1 Person Female (2010) 238,613 Non-Family 2+ Pers Male Head Children 843 (2010) Non-Family 2+ Pers Female Head Children 790 (2010) Non-Family 2+ Pers Male Head No Children 22,108 Non-Family 2+ Pers Female Head No 30,032 Children EMPLOYMENT STATUS Not in Labor Force (2000) 846,540 Total Labor Force (2000) 1,593,438 In Armed Forces (2000) 28,106 Employed (2000) 1,487,341 Unemployed (2000) 77,992 Population Age 16+ (2005) 1,776,356 In Armed Forces (2005) 32,467 Civilian Employed (2005) 1,657,758 Civilian Unemployed (2005) 86,131 Not in Labor Force (2005) 944,564 Population Age 16+ (2010) 1,956,199 In Armed Forces (2010) 36,626 Source: Applied Geographic Solutions Page MapInfo Corporation Copyright Troy, New York. All rights reserved

18 Socio Economic Benchmark Report Socio Economic Benchmark Report ST HWY 151 & MILITARY DR W SAN ANTONIO TX Coordinates Longitude: Latitude: Mile Ring sq/mi Civilian Employed (2010) 1,824,877 Civilian Unemployed (2010) 94,697 Not in Labor Force (2010) 1,040,816 ST HWY 151 & MILITARY DR W SAN ANTONIO TX Coordinates Longitude: Latitude: Mile Ring sq/mi Households 2+ Vehicles (2010) 805,869 Average Vehicles Available (2010) EMPLOYMENT BY INDUSTRY Agriculture forestry fishing and hunting 16,143 Mining 6,085 Construction 122,318 Manufacturing 154,044 Wholesale Trade 45,397 Retail Trade 176,147 Transportation and Warehousing 48,956 Utilities 13,371 Information 50,648 Finance and Insurance 81,367 Real estate/rental/leasing 32,196 Professional scientific and technical svcs 95,561 Management of companies and enterprises 435 Administrative/support/waste management 56,559 svcs Educational services 146,443 Health care and social assistance 146,182 Arts entertainment and recreation 22,781 Accommodation and food services 102,625 Other services (exc public administration) 73,323 Public administration 96,759 VEHICLES AVAILABLE Total Vehicles Available (2005) 2,279,290 Households No Vehicle (2005) 84,922 Households 1 Vehicle (2005) 446,038 Households 2+ Vehicles (2005) 732,566 Average Vehicles Available (2005) 1.9 Total Vehicles Available (2010) 2,552,956 Households No Vehicle (2010) 80,984 Households 1 Vehicle (2010) 471,687 Source: Applied Geographic Solutions Page MapInfo Corporation Copyright Troy, New York. All rights reserved Source: Applied Geographic Solutions Page MapInfo Corporation Copyright Troy, New York. All rights reserved

19 Consumer Expenditure Summary Report Consumer Expenditure Summary Report ST HWY 151 & MILITARY DR W SAN ANTONIO TX Coordinates Longitude: Latitude: Mile Ring sq/mi 2000 Population 3,207, Population 3,571, Households 1,162, Households 1,263,526 Average Household Income (2005) $60,689 Total Expenditures $49,240 Apparel $2, Mens Apparel $ Boys Apparel $ Womens Apparel $ Girls Apparel $ Infants Apparel $ Footwear $ Apparel Services and Accessories $ Repair and Alterations $11.63 Dry Cleaning $99.45 Coin-Operated Laundry $56.36 Other Services and Accessories $ Contributions $1, Education $1, Books and Supplies $ Tuition $ Entertainment $2, Fees and Admissions $ Video and Audio Equipment $ Recreational Equipment and Supplies $1, Pet Supplies and Services $ Other Recreational Equipment $ Food and Beverages $7, Food At Home $3, Source: Applied Geographic Solutions Page MapInfo Corporation Copyright Troy, New York. All rights reserved ST HWY 151 & MILITARY DR W SAN ANTONIO TX Coordinates Longitude: Latitude: Mile Ring sq/mi Food Away From Home $2, Alcoholic Beverages $ Beer and Ale Not At Home $73.46 Wine Away From Home $35.77 Whiskey Away From Home $59.60 Gifts $1, Health Care $3, Health Care Insurance $1, Health Care Services $ Health Care Supplies and Equipment $ Prescription Drugs $ Eyeglasses and Contact Lenses $ Medical Equipment $ Household Furnishings and Equipment $1, Household Textiles $ Furniture $ Floor Coverings $70.80 Major Appliances $ Housewares and Small Appliances $ Shelter $9, Mortgage Interest $4, Property Taxes $1, Other Owned Dwelling Costs $1, Repairs and Maintenance $ Rent $2, Other Lodging $ Household Operations $1, Babysitting and Elderly Care $ Household Services $ Other Household Operations $ Miscellaneous Expenses $ Legal and Accounting $92.49 Source: Applied Geographic Solutions Page MapInfo Corporation Copyright Troy, New York. All rights reserved

20 Consumer Expenditure Summary Report ST HWY 151 & MILITARY DR W SAN ANTONIO TX Coordinates Longitude: Latitude: Mile Ring sq/mi Funeral and Cemetery $83.75 Finance Charges Excl Mortgage & $ Vehicle Other Miscellaneous Expenses $95.78 Personal Insurance $ Reading $ Newspapers $71.43 Magazines $34.25 Books $61.13 Tobacco $ Cigarettes $ Other Tobacco Products $35.21 Transportation $10, New Vehicle Purchase $2, Used Vehicle Purchase $1, Motorcycles (New and Used) $84.19 Vehicle Finance Charges $ Gasoline and Oil $1, Vehicle Repair and Maintenance $ Vehicle Insurance $1, Public Transportation $ Other Transportation Costs $ Utilities $3, Natural Gas $ Electricity $1, Fuel Oil And Other Fuels $ Telephone Service $1, Other Utilities $ Source: Applied Geographic Solutions Page MapInfo Corporation Copyright Troy, New York. All rights reserved

21 Updated Summary Report Updated Summary Report ST HWY 151 & MILITARY DR W SAN ANTONIO TX Coordinates Longitude: Latitude: Mile 3.0 Mile 5.0 Mile Ring Ring Ring 3.14 sq/mi sq/mi sq/mi POPULATION 1980 Population 7,193 61, , Population 7,759 75, , Population 7,576 82, , Population 7,834 88, , Population 8,135 95, , Population 8, , ,653 % Population Change % 9.56% 10.62% % Population Change % 7.89% 6.72% HOUSEHOLDS 1980 Households 1,951 18,056 48, Households 2,218 24,227 63, Households 2,285 27,257 72, Households 2,355 29,344 77, Households 2,441 31,508 82, Households 2,525 33,845 87,710 % Households Change % 12.51% 14.76% % Households Change % 7.66% 6.48% 2005 RACE White Population 3,999 48, ,536 Black Population 638 7,566 16,819 Am Indian/Alaska Native Population ,523 Asian Population 87 1,329 3,653 Hawaiian/Pacific Islander Population Other Race Population 2,688 25,694 60,667 Two or More Races Population 335 4,228 12,193 ST HWY 151 & MILITARY DR W SAN ANTONIO TX Coordinates Longitude: Latitude: Mile 3.0 Mile 5.0 Mile Ring Ring Ring 3.14 sq/mi sq/mi sq/mi Household Income $10,000-$24, ,853 4,733 Household Income $15,000-$19, ,111 5,350 Household Income $20,000-$24, ,426 5,699 Household Income $25,000-$29, ,292 5,273 Household Income $30,000-$34, ,306 5,340 Household Income $35,000-$39, ,180 5,189 Household Income $40,000-$44, ,933 4,972 Household Income $45,000-$49, ,604 4,468 Household Income $50,000-$59, ,849 7,373 Household Income $60,000-$74, ,803 8,126 Household Income $75,000-$99, ,442 7,445 Household Income $100,000-$124, ,000 2,994 Household Income $125,000-$149, ,158 Household Income $150,000-$199, Household Income > $200, Average Household Size Owner Occupied Units 1,441 15,066 44,439 Renter Occupied Units ,237 33,052 Total Establishments 65 2,074 5,437 Total Employees 1,002 32,578 75, Hispanic Population 6,078 63, , Non-Hispanic Population 1,756 24,922 71,874 INCOME 2005 Per Capita Income $11,946 $14,224 $14, Median Household Income $34,536 $36,770 $39, Average Household Income $39,739 $40,607 $43,883 Household Income < $10, ,911 8,111 Source: Applied Geographic Solutions Page MapInfo Corporation Copyright Troy, New York. All rights reserved Source: Applied Geographic Solutions Page MapInfo Corporation Copyright Troy, New York. All rights reserved DEMOGRAPHICS 20

22 TALLEY RD TEZEL RD MEDINA COUNTY WEST SAN ANTONIO RESIDENTIAL LOT GROWTH Wind Gate Ranch 116 Lots Garrett 1150 Lots OLD FM 471 Kallison Ranch 6500 Lots OLD FM 471 Remuda Ranch 480 Lots West Pointe III 1040 Lots Sivage Hms 1000 Lots Weimer 1296 Lots Centex/Moos 749 Lots Culebra Valley Ranch 258 Lots Stillwater Ranch 71 Lots FM 471 W Silver Oaks 497 Lots FM 1560 Wildhorse Vistas 264 Lots Meadows of Bridgewood 995 Lots SHAENFIELD RD Bridgewood 1052 Lots Gilbeau Park Area 2010 New Territories 1957 Northwest Crossing 3318 NEW GUILBEAU Braun Station 2030 Village/Enclave in the Woods 270 Lots GUILBEAU RD Cripple Creek 112 Lots Mainland Square Area 778 Wildwood 871 Palo Blanco 190 Lots John Marshall Area 622 BANDERA RD Westwinds North 92 Lots CULEBRA RD Wal-mart Great Northwest (W) 4926 Coral Springs 121 Lots LEON VALLEY BEXAR COUNTY FM 1957 Tamaron 148 Lots Redbird Ranch 6000 Lots A. Guiterrez West 510 Lots Texas Research Park Felder Tract 2655 Lots West Pointe West 3700 Lots Steven's Ranch 6280 Lots TX HWY 211/TX RESEARCH P Westoak Estates 190 Lots Bella Vista 6758 Lots FM 1957/POTRANCO RD CitiCorp Rolling Oaks Est 346 Lots Sundance 403 Lots A. Guiterrez East 280 Lots Rinco Dev 2912 Lots Trails of Briggs Ranch 650 Lots Golf Club of Texas Hill Country Retreat 2000 Lots West Pointe East 3100 Lots Monticello Ranch 750 Lots Weston Oaks 1415 Lots Hollyhills/Briggs Ranch 458 Lots Villages of WC 171 Lots Vistas (WC) 397 Lots Rustic Oaks 218 Lots Cool Crest 145 Post Oak Dev 1700 Lots Air Force Village 340 Alamo Ranch 5326 Lots Wynwood Place (WC) 339 Lots Milestone Dev North 1020 Lots Mountain Laurel Ranch 285 Lots North San Antonio Hills 180 Westcreek 1841 Caracol Creek/Hts 435 POTRANCO Amhurst POINTE 442 Lots Laurel Mountain Ranch 1620 Lots Milestone Dev South 1000 Lots GROSENBACHER 1604³ ± FM 1957 Wal-mart Champions Park 928 Lots Champions Park II 800 Lots Ludwig 1000 Lots Oak Creek 247 Hillcrest 849 Lots Spring Vistas Area 2050 POTRANCO RD HEB HEB World Savings ROGERS RD Trophy Ridge 533 Lots Wolf Creek 589 Lots WISEMAN BV Northwest Vista College Takata Seatbelts Seaworld Park Place 440 Stone Creek 728 Lots Big Country 1438 Westover Valley 379 Lots Stonegate Hill 277 Lots ROGERS RD Carlson Park TH 40 Lots Mirabella at Legacy Trails 53 Lots Magnolia Heights 350 Lots Westover Crossing 497 Lots Westcove Village 67 Lots Sunset 872 Lots Sienna Park 705 Lots Mesa Creek 515 Lots Creekside/Westover Valley 1174 CapitalGroup Radisson Resort Hyatt Resort Heritage Area 4169 Heritage Park 1458 The Village 104 Lots WISEMAN BV Westover Woods 140 Lots Villas of Westlakes TH 100 Lots Westover Elms 255 Lots Woodglen 515 Tara Area 1135 Westbury Place 265 Lots Great Nortwest (E) 3350 Timber Ridge 1147 Enclave at Westover Hills 193 Lots Brycewood 295 Lots Hunt Crossing 369 Lots ELLISON DR N Maxim Chestnut Springs 485 Lots HUNT LANE TEZEL RD Amberwood/Kriewald Place 2064 Lots Culebra Crossing 269 Lots 151 Enclave at Lakeside 459 Lots Lakeview 300 Lots REED RD FM 1957 INGRAM RD Lackland Heights Area Lots Pipers Meadow Area 913 Crown Meadows 87 Lots Doral Area 888 Stablewood Farms 315 Hiddenwoods Est 28 Lots Grissom Trails CULEBRA RD POTRANCO RD Wal-mart Home Depot Lowe's Liberty Village 216 Lots Meadow Village Area 1762 Millers Meadow 90 Lots HEB 410 Lackland Terrace Area 2237 Timber Creek Area 1046 GRISSOM RD National Security Agency WESTOVER MARKET PLACE HEB Shadow Mist 97 Lots Twin Creek 620 INGRAM RD MILITARY DR W MARBACH RD MILITARY DR SW LACKLAND AFB Legend Active Master Development Plans (MDP's) Total Lots (Existing & Future Houses) Properties in Residential Pre-Planning Existing Houses (Built-out with total number of Houses) Military and Coverted Bases Incorporated Towns ± Proposed Thoroughfares Scale: 1" = 6000' Aerial Photography Map Prepared by SA RESEARCH CORPORATION The information contained herein was obtained from sources believed reliable as of the date of this map. SA Reserach Corporation makes no guarantees, warranties, or representations as to the completeness or accuracy thereof. 90 Masterson Rd Lots Meadow Acres 154 Luckey Ranch 2410 Lots Canyon Crossing 800 Lots Applewood Ranch 892 Lots LACKLAND AFB ANNEX 21 Heather's Creek 79 Lots Hallie Heights 198 Lots Heather's Cove 171 Lots Ridge Stone 123 Lots

23 Subdivisions are sequentially numbered from left to right across the page. Copyright Metrostudy Annual Starts 79 to 190 (14) 14 to 79 (19) 0 to 14 (84) Fm Fm Fm Fm Fm Fm Fm Fm Fm Mesquite Creek Ranch Ranch Ranch Ranch Ranch Ranch Ranch Ranch Ranch Road Road Road Road Road Road Road Road Road State State State State State State Potranco Potranco Potranco Potranco Potranco Potranco Potranco Potranco Potranco Rd Rd Rd Rd Rd Rd Rd Rd Rd 1 Old Old Old Old Old Old Old Old OldTalleyTalley Talley Talley Talley Talley Talley Talley TalleyRdRd Rd Rd Rd Rd Rd Rd Rd Talley Talley Talley Talley Talley Talley Talley Talley Talley Rd Rd Rd Rd Rd Rd Rd Rd Rd Culebra Rd Farm-To-Market Farm-To-Market Farm-To-Market Farm-To-Market Farm-To-Market Farm-To-Market Farm-To-Market Farm-To-Market Farm-To-Market Road 1560 W Fm Braun Rd Farm-To-Market Road W W W W W W W W W Loop Loop Loop Loop Loop Loop Loop Loop Loop N N N N N N N N N 44 State State State State State State State State State Hwy Hwy Hwy Hwy Hwy Hwy Hwy Hwy Hwy Fm Marbach Marbach Rd Rd Rd 50 W F-M F-M F-M F-M F-M F-M F-M F-M F-M N US Hwy 90 Service Rd N N N N N N N N N Ellison Ellison Ellison Ellison Ellison Ellison Ellison Ellison Ellison Dr Dr Dr Dr Dr Dr Dr Dr Dr New Guilbeau Rd 68 S Ellison Dr Dr Bandera Rd Dover Rdg Farm-To-Market Farm-To-Market Farm-To-Market Farm-To-Market Farm-To-Market Farm-To-Market Farm-To-Market Farm-To-Market Farm-To-Market Road Road Road Road Road Road Road Road Road State Highway N Hunt Ln Tezel Tezel Tezel Tezel Tezel Tezel Tezel Tezel Tezel Rd Rd Rd Rd Rd Rd Rd Rd Rd Hunt Hunt Hunt Hunt Hunt Hunt Hunt Hunt Hunt Ln Ln Ln Ln Ln Ln Ln Ln Ln 410 Bristlecone Dr Mainland Mainland Mainland Mainland Mainland Mainland Mainland Mainland MainlandDrDr Dr Dr Dr Dr Dr Dr Dr SW Loop F-M Grissom Rd 114 Military Military Military Military Military Military Military Military Military Dr Dr Dr Dr Dr Dr Dr Dr Dr W W W W W W W W W Medina Base Rd Rd Leon Valley Ingram Rd State Hwy 151 Access Rd W Military Dr W US Hwy Lackland AFB 5 Palms Dr Huebner Huebner Huebner Huebner Huebner Huebner Huebner Huebner Huebner Rd Rd Rd Rd Rd Rd Rd Rd Rd NW Loop 410 Access Rd 117 Callaghan Rd Zarzamora Creek Old Hwy 90 W Castroville Rd State Loop 13 State State State State State State State State State Hwy Hwy Hwy Hwy Hwy Hwy Hwy Hwy Hwy Wurzbach Wurzbach Wurzbach Wurzbach Wurzbach Wurzbach Wurzbach Wurzbach Wurzbach Rd Hillcrest Hillcrest Hillcrest Hillcrest Hillcrest Hillcrest Hillcrest Hillcrest Hillcrest Dr Dr Kelly Air Force Base Jackson Jackson Jackson Jackson Jackson Jackson Rd Rd Rd Rd Rd Rd Rd Rd Rd Balcones He Saint Cloud Rd S General Mcmullen Mcmullen Mcmullen Mcmullen Mcmullen Mcmullen Dr Alaza Nava Park P Elm Billy Billy Mitchell Mitchell Rd Rd Cu L San Antonio West San Antonio Trade Area Fm 471 S Castroville M i i l ontgomery Dr Pue Pue Pue Pue Pue Pue Pue Pue Pue R R R R R R R R R Ray Ellison Blvd Millers Pond aredo aredo aredo aredo aredo aredo aredo aredo aredohwyhwy Hwy Hwy Hwy Hwy Hwy Hwy Hwy Palo Alto Rd WEST SAN ANTONIO TRADE AREA 22

24 Subdivision Activity And Profile Summary West San Antonio Trade Area Subdivision Activity And Profile Summary West San Antonio Trade Area Map Grid Dot No Subdivision Price Range Qtr Starts Ann Starts Qtr Clos Ann Clos Occ. Tot.Inv VDL Future Total Lots Map Grid Dot No Subdivision Price Range Qtr Starts Ann Starts Qtr Clos Ann Clos Occ. Tot.Inv VDL Future Total Lots Adams Hill B/O 2Q Alamo Ranch Future ,116 4, Amberwood $89-$ Amhurst Future Armadillo/Potranco Future ,400 1,400 Bella Vista Future Big Country B/O 1Q , , Brycewood $129-$ Caprock/Doral B/O 4Q Caracol Creek/Heights B/O 1Q Caracol Creek B/O 3Q Champions Park $102-$ Chestnut Springs $97-$ Creekside Glen B/O 4Q Creekside B/O 3Q , ,094 Crown Meadows Villas B/O 3Q Crown Meadows West B/O 4Q Crown Meadows B/O 4Q Doral B/O 1Q El Sendero B/O 4Q Emerald Place $100-$ Felder/DR Tract Future ,632 1,632 Fillmore Place B/O 3Q Heritage Hills B/O 2Q Heritage Northwest B/O 2Q , ,354 Heritage Park B/O 1Q , ,615 Hidden Meadow North B/O 4Q Hillcrest-TH $83-$ Hillcrest $124-$ Hummingbird Estates Future Hunt Crossing $100-$ Kriewald Place $86-$ KS/Westoaks Galo Future ,000 4,000 Lackland City/Heritage Farms B/O 4Q Lakeside/Enclave $107-$ Lakeview Future Laurel Mountain Ranch $113-$ ,460 1, Legacy Trails/Fairways B/O 2Q Legacy Trails/Greens B/O 1Q Legacy Trails/Retreat B/O 1Q Custom Page 1 SAN ANTONIO Residential Survey (3Q05) Copyright American METRO/STUDY Corporation 69 Legacy Trails Future Magnolia Heights $114-$ Marbach Gardens B/O 4Q Marbach Ridge B/O 1Q Mesa Creek $80-$ Millers Meadow $96-$ Monticello Ranch Future Mountain Laurel Ranch $170-$ Oak Creek Estates B/O 1Q Park Place $90-$ Pinn Oaks B/O 1Q Potranco Future Redbird Ranch Future ,309 7,309 Rolling Oaks Estates B/O 4Q Rustic Oaks $92-$ Santa Fe/Trails B/O 1Q Sienna Park $58-$ Sierra Springs/Pointe $84-$ Sierra Springs/Trails B/O 4Q Spring Vistas/Crest B/O 3Q Spring Vistas/Ridge B/O 3Q Stevens Ranch Future ,129 7, Stonecreek $113-$ Sundance Square Future Sunset $62-$ Tara West B/O 2Q Tara B/O 4Q Timber Ridge/Oaks, The B/O 2Q Timber Ridge B/O 4Q Trophy Ridge $125-$ Waters Edge B/O 3Q West Oak Estates $212-$ West Pointe East Future ,100 3,100 West Pointe West Future ,500 8, Westbury Place $106-$ Westcove Village Future Westcreek Forest B/O 4Q Westcreek Pointe B/O 4Q Westcreek/Bluffs B/O 4Q Westcreek/Estates $90-$ Westcreek/Gardens B/O 4Q Westcreek/Highpoint $120-$ Westcreek/Hills B/O 3Q Custom Page 2 SAN ANTONIO Residential Survey (3Q05) Copyright American METRO/STUDY Corporation 23

25 Subdivision Activity And Profile Summary West San Antonio Trade Area Price Range Distribution of Annual Starts, Closings and Current Inventory West San Antonio Trade Area Map Grid Dot No Subdivision Price Range Qtr Starts Ann Starts Qtr Clos Ann Clos Occ. Tot.Inv VDL Future Total Lots 0 99, ,000 Price 150, , ,000 Range 300, , , , , , , , ,999 1,999,99 Total Westcreek/Hollow B/O 2Q Westcreek/Model Home Park B/O 2Q Westcreek/Oaks B/O 1Q Westcreek/Park Future Westcreek/Quail Meadow B/O 1Q Westcreek/Reserve Future Westcreek/Royal Oaks B/O 1Q Westcreek/Summit of B/O 4Q Westcreek/Villages Future Westcreek/Vistas $100-$ Westcreek/Willow Brook B/O 4Q Westcreek/Woods B/O 4Q Westcreek/Wynwood Place $125-$ Westlake/Villas $71-$ Westlakes $102-$ Westover Crossing $102-$ Westover Elms $101-$ Westover Forest $165-$ Westover Hills/Enclave $157-$ Westover Hills/Estates B/O 4Q Westover Hills/Heights $140-$ Westover Hills/Stonegate Hill $140-$ Westover Place $117-$ Westover Reserve/Meadows B/O 1Q Westover Reserve/Terrace B/O 4Q Westover Ridge B/O 2Q Westover Valley $127-$ Westover/Forest Future Westover/Woods Future Westwood Gemini TH's B/O 3Q Westwood Park B/O 2Q Wolf Creek $97-$ Woodglen B/O 4Q ZCE-Tamaron $260-$ Totals 739 2, ,235 22,717 1,118 2,037 47,846 73,718 Custom Market Totals 739 2, ,235 22,717 1,118 2,037 47,846 73,718 Custom Market Numerical Totals Custom Market Percentage Totals % Percent of Total % Percent of Total Ann Starts Ann Closings Housing Inv VDL Inv Ann Starts Ann Closings Housing Inv VDL Inv % 14% 10% 19% 1,650 1, ,186 65% 64% 64% 58% % 16% 20% 18% Price Range Distribution of Annual Starts vs VDL $0-$99 $100-$149 $150-$199 $200-$249 $250-$299 $300-$399 $400-$499 $500-$1999 Annual Starts Price Range Distribution of Annual Closings vs Housing Inventory $0-$99 $100-$149 $150-$199 $200-$249 $250-$299 $300-$399 $400-$499 $500-$1999 VDL , , , ,037 3% 1% 1% 0% 0% 100% 3% 1% 1% 0% 0% 100% 3% 1% 1% 0% 0% 100% 4% 1% 0% 0% 0% 100% Annual Closings Housing Inventory Custom Page 3 SAN ANTONIO Residential Survey (3Q05) Copyright American METRO/STUDY Corporation SAN ANTONIO Price Analysis (3Q05) Copyright American METRO/STUDY Corporation Page 1 24

26 Future Lot Inventory Report West San Antonio Trade Area Future Lot Inventory Report West San Antonio Trade Area Subdivision (Map #) Section Name Developer Lot Size No. of Acres No. of Lots Platting Dates Prelim Record Survey Stakes Equip on Site ExcavB egun Street Paving Streets In Subdivision (Map #) Section Name Developer Lot Size No. of Acres No. of Lots Platting Dates Prelim Record **Proposed **Proposed Survey Stakes Equip on Site ExcavB egun Street Paving Streets In Alamo Ranch (75F2) Balance Pulte 0x ,472 Unit 23A Pulte 50x /14/2005 8/10/2005 Unit 23B Unit 23C Unit 25 Pulte 60x *Pulte 60x Pulte 0x /28/2005 Unit 41A *Pulte 0x /17/2005 Unit 41B-Encl *Pulte 0x Unit 44A Pulte 0x Amberwood (86B3) Unit 3 Amhurst (85F1) Unit X 4,116 3, Fieldstone 42x /14/2005 Dr Horton 0x0 442 Armadillo/Potranco (85E1) MDP Bella Vista (85D1) Armadillo 0x ,400 Unit 1, Sec. 1 Jay Hanna 65x /14/2005 Unit 1, Sec. 2 Newmark 0x Unit 2, Sec. 1 jay Hanna 45x /16/2004 6/8/2005 Unit 2, Sec. 2 Newmark 0x Unit 3, Sec. 1 *Newmark 55x /16/2004 8/24/2005 Unit 3, Sec. 2 Newmark 55x /15/2005 Unit X Newmark 0x0 234 Champions Park (85F2) Unit 10 *J.L. Guerra, Jr. 0x Unit 2 *Legacy 0x /29/2005 Unit 3 Unit 4 Unit 5&6 Unit 7 Unit 8 Unit 9 *J.L. Guerra, Jr. 0x *J.L. Guerra, Jr. 0x J.L. Guerra Jr. 55x /10/2005 *J.L. Guerra, Jr. 0x *J.L. Guerra, Jr. 0x *J.L. Guerra, Jr. 0x Chestnut Springs (86B1) Unit 2 Fieldstone 50x /11/2005 9/14/2005 Unit 3 Fieldstone 0x Custom Page 1 SAN ANTONIO Residential Survey (3Q05) Copyright American METRO/STUDY Corporation Unit 4 Unit 5 Unit 6 Fieldstone 0x Fieldstone 0x Fieldstone 0x Felder/DR Tract (85D2) MDP X Hillcrest (86A3) Unit 2B * 0x ,632 Pulte 0x Unit 3 Pulte 0x /12/2005 Unit 3B pulte 0x Unit 4 Pulte 0x /12/2005 Unit 5 Pulte 0x Unit 6 *Pulte 45x /1/2005 Hillcrest-TH (86A3) Unit 2A Pulte 35x /26/2005 Hummingbird Estates (86A2) Unit X Hunt Crossing (86B1) Rudy Gonzalez 0x0 103 Unit 4A KB Home 45x /10/2004 Unit 5 KB Home 45x Kriewald Place (86A2) Unit 4 Obra 44x /8/2004 Unit 5 Unit 6 Unit 7 Obra 42x Obra 42x Obra 42x KS/Westoaks Galo (75F2) MDP *Brad Galo 0x ,000 Lakeside/Enclave (86B1) Unit JSL- Shannon Livingston 45x /10/2005 Unit 4 *JSL Dev. 0x /13/2005 Unit 5 *JSL Dev. 0x /8/2005 Unit 6 *JSL Dev. 0x Lakeview (86B1) Unit 1 JSL Dev. 50x /14/2005 Custom Page 2 SAN ANTONIO Residential Survey (3Q05) Copyright American METRO/STUDY Corporation 25

27 Future Lot Inventory Report West San Antonio Trade Area Future Lot Inventory Report West San Antonio Trade Area Subdivision (Map #) Section Name Developer Lot Size No. of Acres No. of Lots Platting Dates Prelim Record Survey Stakes Equip on Site ExcavB egun Street Paving Streets In Subdivision (Map #) Section Name Developer Lot Size No. of Acres No. of Lots Platting Dates Prelim Record **Proposed **Proposed Survey Stakes Equip on Site ExcavB egun Street Paving Streets In Unit 2 *JSL Dev. 50x /8/2005 Unit 4A JSL Dev. 50x /14/2005 9/14/2005 Unit 4B JSL DEV. 50x /14/2005 9/14/2005 Laurel Mountain Ranch (85F2) Unit 10 Unit 11 Unit 2 Unit 3 Unit 4 Unit 5 Unit 6 Unit 7 Unit 8 Unit 9 Swann 50x Swann 50x Chesley Swann 50x /27/2005 Chesley Swann 50x Swann 50x Swann 50x Swann 50x Swann 50x Swann 50x Swann 50x Legacy Trails (76A4) Unit 4 Charro-Mirasol 50x Magnolia Heights (76A4) 1,460 1, Unit 3B-LennaConnell-Barron (los 50x /12/2004 Cedros/Hausman JV#2) Mesa Creek (86A2) Unit 1 Unit 2 Unit 3A KB Home 45x KB Home 45x KB Home 0x Monticello Ranch (85E1) Unit 1 *Centex 50x /23/2005 Unit 2 *Centex 50x /23/2005 Unit 3 *Centex 50x /1/2004 Unit 4 *Centex 50x /1/2005 Potranco (85F1) Unit 1 Chesley Swann 0x Unit 2 Milestone Potranco Devel. 55x /14/2005 8/29/2005 Unit 4 *Chesley I. Swann 0x /8/2005 Redbird Ranch (85C1) MDP X * 0x , Unit 1-A *DR Horton 0x /15/2005 Custom Page 3 SAN ANTONIO Residential Survey (3Q05) Copyright American METRO/STUDY Corporation Unit 1B DR Horton 0x /11/2005 Unit 2-A *DR Horton 0x /15/2005 Unit 2B DR Horton 0x /26/2005 Unit 3A *DR Horton 0x /15/2005 Unit 3B DR Horton 0x /1/2005 Unit 3C DR Horton 0x /7/2005 Sienna Park (86A2) 7,309 7,309 0 Unit 26 KB Home 42x /15/2003 Unit 26A KB 0x Unit 27 KB Home 42x /9/2005 Stevens Ranch (85D1) Unit 10 Unit 11 Unit 12 Unit 13 Unit 14 Unit 15 Unit 16 Unit 17 Unit 18 Unit 19 Unit 2 Unit 20 Unit 21 Unit 22 Unit 23 Unit 24 Unit 25 Unit 26 Unit 3 Unit 4 Unit 5 Unit 6 *Thompson Realty 0x *Thompson Realty 0x *Thompson Realty 0x *Thompson Realty 0x *Thompson Realty 0x *Thompson Realty 0x *Thompson Realty 0x *Thompson Realty 0x *Thompson Realty 0x *Thompson Realty 0x Thompson Realty 0x *Thompson Realty 0x *Thompson Realty 0x *Thompson Realty 0x *Thompson Realty 0x *Thompson Realty 0x *Thompson Realty 0x *Thompson Realty 0x Thompson Realty 0x *Thompson Realty 0x *Thompson Realty 0x *Thompson Realty 0x Stonecreek (86A1) Unit 1A *Armadillo 50x ,129 7,129 0 Unit 2X Armadillo 45x /12/2004 7/19/2005 Unit 2Y Armadillo 55x /19/2005 Unit 3 *Armadillo 45x /2/2005 Unit 4 *Armadillo 55x Unit 5 *Armadillo 55x /29/2005 Unit 6 *Armadillo 45x Custom Page 4 SAN ANTONIO Residential Survey (3Q05) Copyright American METRO/STUDY Corporation 26

28 Future Lot Inventory Report West San Antonio Trade Area Future Lot Inventory Report West San Antonio Trade Area Subdivision (Map #) Section Name Developer Lot Size No. of Acres No. of Lots Platting Dates Prelim Record Survey Stakes Equip on Site ExcavB egun Street Paving Streets In Subdivision (Map #) Section Name Developer Lot Size No. of Acres No. of Lots Platting Dates Prelim Record **Proposed **Proposed Survey Stakes Equip on Site ExcavB egun Street Paving Streets In Unit 7 Unit 8 Unit 9 Armadillo 55x Armadillo 45x Armadillo 45x Sundance Square (85E1) Remaining Unit 1 KB 0x KB 45x /10/2005 Unit 2 KB Home 0x0 63 9/8/2005 Unit 6A Unit 7 KB 0x0 24 KB 0x0 52 Trophy Ridge (86A1) Unit 2 Brad Galo 50x /23/2004 7/29/2005 Unit 3 Unit 4 Unit 5 *Brad Galo 0x *Brad Galo 0x Brad Galo 0x West Oak Estates (75E3) Unit 3 Unit 4 McMillin 0x0 29 McMillin 0x0 59 West Pointe East (75E3) MDP * 0x ,100 West Pointe West (75D3) MDP * 0x ,500 Westcove Village (86A1) Unit X Michael H Gulley 0x Westcreek/Highpoint (75E4) Unit Glenn Gehan 50x /24/2005 Westcreek/Park (75E4) Unit 2 Unit X McMillin 40x Gordon Hartman 0x Westcreek/Reserve (75F4) Unit 1 Unit X McMillin 50x Gordon Hartman 0x Custom Page 5 SAN ANTONIO Residential Survey (3Q05) Copyright American METRO/STUDY Corporation Westcreek/Villages (75F4) Unit 5 Garrett Brothers 50x /1/2001 Westover Elms (76B3) Unit 1B Medallion Homes 45x /23/2000 Westover Hills/Enclave (76B4) Phase 2 Legacy homes 50x /14/2005 Phase 3 *Legacy 50x Westover Hills/Stonegate Hill (76A3) Phase 2-PultePulte 65x /8/2005 Westover Place (76A4) Unit 4 Hartman 50x /23/2002 Westover Valley (76A3) Unit 2A Brad Galo 55x /12/2004 8/24/2005 Unit 2B Brad Galo 50x /24/2005 Unit 2C *Brad Galo 0x /6/2005 Unit 2D *Brad Galo 0x /6/2005 Westover/Forest (76A2) Phase IV & V Joey Guerra 70x /1/2005 7/25/2005 Westover/Woods (76A3) Phase VI Ryland 55x /25/2005 7/25/2005 Wolf Creek (85F1) Unit 2 Chesley Swann 50x /14/2004 7/29/2005 Unit 3 *Brad Galo 50x /14/2005 9/14/2005 Unit 4 *Chesley I. Swann 0x /18/2005 Unit 5 Unit 6 Unit 7 *Brad Galo 0x *Brad Galo 0x *Brad Galo 0x Unit 8 *Brad Galo 0x /9/2005 ZCE-Tamaron (75D2) Unit 1 jack Dean 200x /13/1995 Unit 2 Michael Steward 200x /13/1996 Unit 3 Michael Steward 200x /23/1996 3/30/ Custom Page 6 SAN ANTONIO Residential Survey (3Q05) Copyright American METRO/STUDY Corporation 27

29 Subdivision (Map #) Section Name Developer Future Lot Inventory Report West San Antonio Trade Area Lot Size No. of Acres No. of Lots Platting Dates Prelim Record **Proposed Survey Stakes Equip on Site ExcavB egun Street Paving Streets In SAN ANTONIO CONSULTING TOTALS 47,846 45,753 2,093 Custom Market Totals 47,846 45,753 2,093 Custom Page 7 SAN ANTONIO Residential Survey (3Q05) Copyright American METRO/STUDY Corporation The San Antonio Consulting Team Jack Inselmann Vice President, US Central Division Over the past twenty years, Jack has gained a reputation in the San Antonio housing industry for thorough analysis and thoughtful insight into the many factors that affect the outlook for the local housing and real estate market. Jack plays an active role in all of the market study and consulting work performed in the San Antonio region. [email protected] Eldon Y. Rude, MAI Director of Consulting, Austin & San Antonio Eldon has been involved in the real estate consulting industry for over 18 years, the last 7 years with Metrostudy. Eldon managed a commercial real estate appraisal business in San Antonio in the early 1990 s where he gained valuable insight into the key forces that impact local real estate markets. Eldon is the primary contact for Metrostudy s consulting practice in San Antonio Phone: (512) [email protected] Erik Lind Market Analyst, Austin & San Antonio Erik has been with Metrostudy for over four years. Erik s responsibilities include researching market information for use in consulting assignments, as well assisting in the development of market studies and lot and housing data packages. Erik is a graduate of Texas A&M University. [email protected] The Metrostudy San Antonio Market Area Metrostudy routinely performs market studies in the entire San Antonio MSA which now covers eight (8) counties. Metrostudy s quarterly lot and housing surveys provide much of the information employed in our consulting work here. Our survey team drives over 3,000 miles and over 400 subdivisions every 90 days in order to maintain a timely and accurate database of information that can be relied upon by our clients. Metrostudy Consulting Practice The Metrostudy consulting team in San Antonio has extensive experience in performing a variety of services for our clients. Below is a summary of some of the types of assignments we have conducted in San Antonio. Market Demand Studies - Whether the client is interested in the achievable sales velocity in a new project, or an equity investor requires a comprehensive evaluation of the factors that will impact a proposed project, Metrostudy can prepare a market study that will address the critical issues. MUD Studies - Metrostudy routinely prepares market studies that are used by the client in the creation of Municipal Utility Districts. Metrostudy assisted in the promulgation of the market study guidelines with the Texas Water Commission (now Texas Commission on Environmental Quality). Builder Land Packages - Builders often engage Metrostudy to assist them in developing land packages that must be submitted to corporate for new land deals. Metrostudy can either prepare the entire package, or provide the client with specific information necessary to complete the package. Competitive Product Studies - In planning a new community, a key question regards the segmentation of lots and new home pricing. Metrostudy is routinely engaged to assist developers and builders with this critical stage in planning. Our database of lot and new home information can be queried to develop insightful facts and statistics to assist in this process. Lot Pricing Studies - Proper lot pricing is critical to the success of any project. Metrostudy can assemble Lot Pricing figures that will provide the client with timely information on what developers in competitive projects are charging for their lots. In most instances we will furnish this information in a matrix format which also displays the key features of the competitive projects included in the Lot Pricing Study. 28

30 Metrostudy Definitions and Methodology REPORTS: Residential Survey Report 6 Quarter History of Quarterly Closings, Inventory Levels, Starts (Lot Absorption), Subdivision Section Profiles, Price Range(s), Lot Sizes & Current Lot Supply, Active Builder List, (Detail for Starts & Closings is at the Subdivision Level, Detail for Price Ranges and Lot Sizes is at the Section Level) Price Analysis Report Annual Closings, Starts, Current Quarter Inventory, & Lots by Price Range (Depth of Market by Price Range) VDL Analysis Report Annual Starts and Current Inventory Levels by Lot Size by Submarket, & Subdivision MARKET: Market encompasses the overall San Antonio region Market Area within the market are smaller geographic regions. The 12 market areas are: Southwest, Bandera-Culebra, Babcock Northwest, Far Northwest, North Central, Far North, Northeast, East, Southeast, South, Boerne and New Braunfels. Sub-Market is a general territory within the marketing area in which the subdivision is located. They are: (North Central) East of 281 & West of 281; (Far North) Stone Oak/Sonterra; (Northeast) Schertz/Cibolo. SURVEY PROCESS: We gather all single-family subdivision plats in the San Antonio market, and our Surveyors physically inspect each lot every 90 days. This task begins on the first day of the beginning of each quarter and is completed within ten days. The results of these surveys are totaled, tabulated and delivered in the form of briefings, publications, site assessments, and market studies. Each of our reports will include the following terms and abbreviations that are defined as follows: Future Lot Inventory as soon as a preliminary plat is submitted (sometimes a site plan) for consideration by a city, the subdivision lots are considered to be Future Lots. Vacant Developed Lot (VDL) after the subdivision streets have been paved and our surveyor can physically drive in front of the lot, we consider the subdivision to be developed and to contain Vacant Developed Lots, or VDL. Start as we inspect lots, when a housing slab or foundation has been poured, we record a housing Start. Inventory after a home has been started, it remains as Inventory until it is occupied. It can remain in the following three states until occupancy takes place. It is possible for a home to be started and closed within the quarter and to skip the inventory state. In such case, a Start and Closing are recorded for the quarter. Under Construction (UC) a slab has been poured and the unit is in process and unfinished. Finished Vacant (FV) when all improvements are complete, the lot & yard are cleaned-up, and the house is ready for occupancy, the inventory unit is classified as Finished Vacant -FV. Finished Model (FM) builders often use a finished home as a center for sales and marketing. In such case, the inventory unit is classified as a Finished Model home. Closing when an actual Move-In has occurred, the home becomes Occupied and a Closing is recorded. Annual Starts & Closings is the sum of activity for the most recent four quarters. Totals for all categories (Starts, Closings, VDL, Inventory, etc.) for the quarters are available as follows: First Quarter (1Q) third week in April Second Quarter (2Q) third week in July Third Quarter (3Q)...third week in October Fourth Quarter (4Q).third week in January Months of Supply (MOS) this can be applied to the three categories of housing inventory as well as vacant developed lots and future lots. MOS for lots, either developed or future, is calculated by dividing the lots by the Annual Starts divided by twelve: MOS for lots = VDL/(Annual Starts/12) 29

31 MOS for housing inventory is calculated similarly, but with Annual Closings: MOS for Housing Inventory = Inventory/(Annual Closings/12) Target Market Area () these are the most competitive subdivisionssimilar/comparative lot size, lot price, home price, amenity level, etc. They are not necessarily confined to the same Sub Market as the subdivision under study. 30

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35 San Antonio Business Journal - December 5, It was DeAyala who went to Laredo a few years ago with Arena Ventures to help kick-start a $40 million Laredo Entertainment Center project. In 2002, that 10,000-seat arena opened its doors and in year one hosted more than 100 events. It is also home to one of the Central Hockey League's most successful franchises, the Laredo Bucks, which are affiliated with the American Hockey League's San Antonio Rampage. EXCLUSIVE REPORTS Business Pulse Survey: NFL in San Antonio? Click here to vote From the December 2, 2005 print edition Longhorn sack leader bags prime real estate Site eyed for hotel, entertainment, office projects W. Scott Bailey That development has since spurred additional development, including a 14-screen movie theater complex, an automotive dealership and a new Hawthorne Suites hotel. DeAyala says Laredo National Bank, along with restaurants and other retail establishments, have solidified the Laredo development. Now DeAyala has his sites set on the Alamo City, in an area that has attracted his attention first because it is surrounded by a number of premier developments, such as SeaWorld and the Hyatt Hill Country Resort. It is situated in an area expected to add another quarter-million people over the next 15 years. In the mid 1980s, Julian "Kiki" DeAyala was blitzing San Antonio Gunslingers quarterbacks in the old USFL days at Alamo Stadium. Two decades later, he is chasing down new development opportunities in the Alamo City and is already moving forward on his first big project here. DeAyala is president of Houston-based DeAyala Properties, which has acquired some 80 acres of prime real estate on San Antonio's far West Side. That acreage is situated along the northwest corner of Military Drive and State Highway 151, an area DeAyala says is "emerging as a preferred corridor for commuter traffic." DeAyala, a former All-USFL linebacker for the Houston Gamblers, says plans for that acreage includes a mix of hotel, entertainment and office complexes. He says the project will likely take up to four years to fully build out and could represent an eventual total investment of more than $200 million. Equally important, DeAyala says, his firm is interested in pursuing additional projects here. "We are looking at other sites in San Antonio," says DeAyala, the all-time sack leader at the University of Texas who spearheaded the purchase of the initial 80-acre site. Charles Martin Wender, a veteran local developer with deep roots in Westover Hills, says San Antonio is "all about corridors," adding, "Now (Hwy.) 151 is becoming one of those corridors we always knew it would be." Says DeAyala, "The Westover Hills/Northwest Area of San Antonio is the fastest growing area of the city. It has a large base of major employers and has attracted many national home builders." As such, DeAyala says his project will only add to the "significant retail, office and medical projects planned for the area." Furthermore, he is convinced that "much more is needed to keep pace with the population growth." DeAyala says talks are under way with multiple hotel operators. The end result, he says, could ultimately be a three-hotel complex anchoring the 80-acre site. He says the development could also include a unique water feature surrounded by a cluster of restaurant/entertainment attractions. "That's something we're really pursuing," he says. Political punch "It's a hot market," DeAyala continues. "There is a lot going on there already. But there is plenty of room to grow." Some local leaders are optimistic that the Alamo City is on the threshold of what could become a historic period of economic prosperity. DeAyala won't say what other sites his firm might look to develop in San Antonio. But he does say the Alamo City is a market on the move. DeAyala predicts that in his lifetime, "San Antonio and Austin will grow together to become one big (market)." Sold on San Antonio A new report provided by Travis Tullos, chairman of the Greater San Antonio Chamber of Commerce's Economic Analysis Panel, suggests that San Antonio is headed for important gains in key areas such as employment, housing, retail spending and tourism, among others. "There's nothing on the horizon in the next 12 to 24 months that would suggest that these trends won't continue," Tullos contends. ARTICLES 34

36 Former City Manager Terry Brechtel says this may be a landmark moment for the Alamo City. "We're knocking on a lot of doors these days," she says. "What is working so well right now is the fact that we have a business community that is working well with local government." Brechtel adds, "What you are seeing is that on all fronts, people, leaders, are coming together. There is the discovery of San Antonio." The former pigskin standout believes there is currently a convergence of strengths on multiple fronts that promises to put San Antonio in great growth position. One of those strengths, DeAyala says, is city leaders' willingness to be proactive on the economic front -- a proclamation at which some developers in the past would have laughed. "It's a great city with a lot of political cooperation right now," DeAyala says. "San Antonio's leadership has done a tremendous job of creating a climate for tourism, job creation, and a quality of life second to none. We see our project as a continuation of this growth and plan to build a high quality, mixed-use development." 2005 American City Business Journals Inc. Add RSS Headlines Post a Job Locally Single Job Posting for $280 Create your job ad in as little as a few minutes and it will appear on the local business journal website for 60-days. Candidate resumes are filtered by position requirements and delivered directly to your inbox. Get Started Today!» Special Offer: 3 job posts and resume search - $600 Today's Featured Jobs powered by bizjournalshire Business Analyst - Capital Group Companies MS SQL Server Team Manager - Capital Group Companies Inbound Call Center Customer Service/Sales SA TX - Humana Financial Consultant - San Antonio, TX - Washington Mutual Inside / Outside Manager - Rent-A-Center More Local Jobs Post Jobs Post Your Resume Search Jobs All contents of this site American City Business Journals Inc. All rights reserved. 35

37 Health care group plans 2 campuses Web Posted: 07/15/ :00 AM CDT Zeke MacCormack Express-News Staff Writer BOERNE In its first expansion in 19 years, Christus Santa Rosa Health Care on Thursday announced plans to open a medical complex here next year and another in western San Antonio. Physicians' offices and outpatient clinics will mark the first phase of what system officials predict will eventually become comprehensive medical campuses at the 37-acre site here and on a 100- acre parcel in Westover Hills. Mayor Patrick Heath joined other Boerne area officials in cheering the initiative, expected to reduce reliance on more distant medical providers while adding jobs and millions of dollars to the local tax base. "This is exactly the right thing for us to do," said Monahan, whose congregation joined in 1999 with a Houston branch of the religious order to create Christus Health. Christus Health has a combined $3.6 billion in assets in seven states and Mexico, and 27,000 employees, officials said. Tom Royer, president of Christus Health, said the new sites complement existing services by the faith-based provider, which counted $460 million in charitable care among $2.6 billion in revenue logged for the fiscal year that ended last month. "We were called to Boerne," he said. "This is really a calling, and it really fits in with our mission." [email protected] "We're always looking for good corporate citizens in our community," Heath said. "They'll add yet another dimension to the health care resources we have." The sites selected are in fast-growing areas now underserved by the medical community, officials said. "Everyone will be happy to have health care at their fingertips," said County Judge Eddie J. Vogt. "This ought to really help our overstretched EMS." There's been talk of locating a hospital here since the 1950s, he said, and the need has grown substantially as the county's population surged to about 30,000 in recent years. "The community has really wanted more services because they're growing so fast," said Don Beeler, president of Christus Santa Rosa Health Care, which operates three San Antonio hospitals. He said he expects the new campuses to offer "the entire continuum of health care services." The Boerne parcel is between U.S. 87 and Interstate 10 on a major entry corridor to the Kendall County seat of 8,000. The Westover Hills location is at the northwest corner of Texas 151 and Westover Hills Boulevard. What is built and how soon depends on needs to be identified in meetings with community leaders and physicians, but Beeler said a "pretty aggressive" timetable calls for initial facilities to open within 14 months. The design will be consistent with local character, he said, noting, "We recognize that Boerne is changing but you want to preserve what is your heart and soul." Sister Helena Monahan of the Sisters of Charity of the Incarnate Word, which built San Antonio's first hospital 135 years ago, said history was repeating itself as the nonprofit again reached out to areas in need. 36

38 BY LISA Y. TAYLOR As Westover Hills approaches its 20th anniversary, its developer, Charles Martin "Marty" Wender, reflects on how he assembled a who's who of users such as JP Morgan Chase & Co., World Savings & Loan Association, Sea World San Antonio, and the Hyatt Regency Hill Country Resort to his far West Side development along State Highway 151. As Wender points to one of the mixed-use project's aerial photos that wallpapers his office, he recalls its beginnings: "I had ranch land. Then I took a freeway through here." Simply stated, but no small feat that he also brought a mix of corporations, resorts and services to land that used to be the home of a few people and now employs 20,000. Acquiring the deals took geographic, infrastructure and incentive advantages that are still moving Westover Hills forward today. Success has also stemmed from Wender's ability to sell the city's assets. "He's first a San Antonio salesman, and secondly he sells the development's land," says Mario Hernandez, president of the San Antonio Economic Development Foundation. Why he went west Wender transforms ranch to thriving growth corridor In October 1983, Wender purchased the first ranch that would comprise Westover Hills. Developing in West Bexar County was not the prevailing real estate trend, but his background compelled him to make different choices than those made by many real estate developers at that time. Wender moved to San Antonio in 1969 after graduating from the University of Texas - Austin. He married into a third-generation family real estate business that had offices at the corner of El Paso and South Zarzamora streets. For the first 12 years that the Fort Worth native lived in the city, he was an observer of northern development, since his business built in the South, East and West sides. Wender recalls that in the 1970s the most valuable real estate in San Antonio was on the North Side at San Pedro Avenue. In 1981, Wender left the family business, and struck out on his own. He bought a ranch and developed Crownridge at Interstate-10 and Camp Bullis Road. "When I woke up in 1981 and bought this ranch, I realized the "golden corridor" had become 1-10, not 281, not San Pedro," he says. As he looked for where to build next, he observed that growth had shifted near 1-10 due to the South Texas Medical Center, USM and the University of Texas at San Antonio. However, the land's hills, rocks and Edwards Aquifer Recharge Zone restrictions created economic barriers to developing it. So it made sense to him to build further west. In all, he bought five ranches for Westover Hills that would total 3,500 acres, paying a sum of $40 million. When the Texas real estate crisis hit in the late 1980s, Wender started to see his dream slip away as his financial partner, Bexar Savings Association, failed. But Wender persevered. His search for a new partner landed him in a deal with Canada-based Samoth Capital Corp. In 1998, Sterling Financial Corp. acquired Samoth and its Westover Hills investment. Wender and Sterling are general partners in Westover Hills Development Partners LP. Freeway changes area When Wender originally bought the Westover Hills property, up to 90 percent of it was set aside for housing. What changed the usage was the building of State Highway 151, the Stotzer Freeway. That made Westover Hills a major commercial corridor," he says. In fact, of all his deals, he is most proud of bringing the freeway that runs from U.S. 90 to Loop Wender had originally intended to only have a boulevard running through his property, but plans ballooned when he hired Ralph Bender to design Westover Hills' roads. For years, Bender, a former director of San Antonio's planning department, had been trying to build a freeway in the city's West Side. He told Wender that he should have it built through Westover Hills. "I told him he's crazy," Wender says. "I said, 'You plan my 3,500 acres. Don't plan the whole city.' I said, 'Time will kill you. Freeways take years and years and years. We've got to build today.' " Bender was not deterred from his idea and he urged Wender to visit Raymond Stotzer Jr., district engineer of the state highway department at the time. "Raymond Stotzer was most dynamic in getting stuff done," Wender says. "He was a man that could make anything happen." Stotzer persuaded Wender to give right-of-way for the freeway to speed its approval, and Bender and Wender convinced almost all of the other affected landowners, including Southwest Research Institute and the Van De Walle Farms, to donate right-of-way to the state. To provide half of the access road funds, Wender donated $4 million of his own money, and he convinced some of the other landowners to contribute another $2 million. With land and money commitments, Wender, Bender, and a team that included then Mayor Henry Cisneros walked into the office of the highway commission and made their freeway pitch. We made our presentation, and they're so dumbfounded," Wender says. "No one had ever done this before." The commission approved the freeway's building on the spot. Only 90 days had passed since the day Wender walked into Stotzer's office and drew with a grease pencil what was to become S.H. 151's path. In 1986, the freeway's access roads opened. "It changed the property," Wender says. "It was a new corridor in San Antonio." Planning ahead, he reserved a 400-foot wide median for the freeway's main lanes that are under construction today and could open the middle of next year. The main lanes make up $34 million of $102 million in highway construction in progress in the Westover Hills area. Also in the works is a $28 million interchange that could open in 2006 at the intersection of Loop 1604 and S.H Because of Wender's deal with the state, today it is common for private developers to donate land or partially finance state highways that go through their property. Bender says he has heard Stotzer remark that S.H. 151 saved the state a billion dollars as other highway projects have followed the freeway's financial and land arrangement. Other than helping Westover Hills, the freeway has linked the city's West, South and Nor_sides, and has brought businesses to the surrounding area, Bender says. "It's had a tremendous impact on (U.S.) 90 West," he says. 'There's all kinds of industrial development because of that freeway." Making the deals Getting the state to build S.H. 151 was instrumental in bringing Sea World to Westover Hills in 1988, Wender says. After SeaWorld, resorts and corporations followed. Wender beams when he talks about his role in bringing the Hyatt resort. The Hyatt brought a new industry in San Antonio," he says. Before the Hyatt opened in 1993, San Antonio lacked a tourist golf course destination, he says. To finance the resort's development, he secured $150 million in debt and equity financing from the Long-Term Credit Bank of Japan Ltd. and two Japanese companies. "I convinced the Japanese that San Antonio could be a true golf destination," he says. "Now the Convention and Visitors Bureau promotes golf, and what else is coming to town? The PGA" 37

39 He says he supports the building of another golf resort at a 1,500-acre site near Sea World called The Village at West Pointe. The site was proposed by the project's developers as an alternative to the much-contested site of the PGA Village planned for northeast Bexar County. Wender markets San Antonio's and Westover Hills' tourist appeal to corporations considering locating to his sites. The strategy worked in drawing Paris-based Oberthur Gaming Technologies Corp., which prints lottery tickets for an international clientele. "Because their customers are government employees, they made a decision that they wanted their plant to be in a location that people like to go to," Wender says. In 1997, the company opened its campus at the northeast corner of Westover Hills Boulevard and Rogers Road. Oberthur considered Orlando, but San Antonio won out because of its more centralized location between North American and Latin American clients, says Oberthur's general counsel Rolando Pablos. The office's surrounding scenery and its IS-minute drive to downtown makes it ideal for visiting clients, Pablos says. He adds that the area is situated near a wide variety of housing options for its 350 employees. "Both our executive and manufacturing-level employees are able to :find suitable housing," he says. Although QVC Inc.'s telemarketing center is next to Oberthur's campus, Pablos' office has a scenic view. "Personally, I enjoy looking out the window at the Hill Country rather than glass and concrete," he says. Attracting jobs Wender, 2002 chairman of the Greater San Antonio Chamber of Commerce, takes pride that all of the companies that have located to Westover Hills have come from outside the city. Preliminary plans call for the center to have a creek running through it with shops and restaurants on each side. It will be "a place where you go after work and go out and eat and walk around and shop," he says. Wender expects future retail development will at least mimic the success of the Rudy's Country Store & Bar B-Q that opened in 1998 across from Sea World. He is a investor in that location with the chain's owner. In all, 200 acres are reserved for retail. He foresees Westover Hills will be built out in the next 10 years with up to 50,000 employees. More than 1,000 corporate acres have been developed and another 400 acres remain available. Wender is negotiating a build-to-suit and lease with an insurance company for a 150,000-square-foot service center. Smaller deals are in the works for office campuses, medical office buildings and apartment complexes. Increasing restrictions on development over the Edwards Aquifer Recharge Zone and the persistent population growth in the west will continue to fuel Westover Hill's importance in office development, says Tom Chandler, president and COO of San Antonio developer Orion Partners Inc. Chandler's company is in discussions with Wender about building an office complex for leasable space. Thinking about Westover's connection to the city's economic future, Wender points to one of the aerial photos that displays the sites of Westover Hills users, surrounding major companies and developments. "My dream of dreams would be to take (S.H.) 151, through Kelly (USA), to go down maybe to a... Toyota site," he says. Big aspirations, but he's already achieved many. In 1989, "The National Real Estate Times" named Westover Hills as one the Top 10 "Emerging Growth Corridors" for the 1990s. "It has come to fruition," he says. From city, county and state entities, companies that locate to the development may qualify for a 10-year, 100 percent tax abatement on real and/or personal property. Hernandez says Westover Hills' proximity to a sizable work force is key to attracting employers to it. From 1990 to 2000, the zip code in which Westover Hills is located has seen its population jump from 15,000 to 26,000 residents. "It's always important to companies when they see the number of rooftops," Hernandez says. Westover Hills has about 1,000 homes, but other residential subdivisions surround it. Another 200 undeveloped residential acres remain available. Companies continue to locate to Westover Hills partly because of the development regulations that protect their investment, Wender says. "We have some of the strictest requirements in San Antonio," he says. Illustrating the extent of "protective covenants" that builders have to follow, he flips through hundreds of pages of regulations. There's a standard for everything," he says. "We control the lighting. We control signage. We control the trees, materials, everything. We propose using the natural, natural stone and trees." An added protection is Westover Hills' designation as a city scenic corridor that prohibits billboards. As an example of a corporation pouring resources into protecting its investment, he points to the campus of The Capital Group Coso at the corner of Westover Hills and Wiseman boulevards. The 88-acre campus with 500,000 square feet of office space is barely visible from the road because of its tree coverage. It was designed by New York City-based Pei Cobb Free & Partners Architects LLP, the company founded by the world renowned LM. Pei, who designed the Grand Louvre pyramid in Paris. What's next While corporate campus sites remain a concentration for Westover Hills, Hernandez expects the development will change its direction somewhat. "Now it has a critical mass of major employers that need additional services, so it will see more retail and more service operations," he says. He's right. Wender is working with a major retail developer to build what is tagged a lifestyle center that would include retail, dining and entertainment venues. He compares it to the Huebner Oaks Shopping Center at 1-10 and Huebner Road. He did not want to disclose the developer's name, but he says it has a 67-acre site under contract near the Hyatt resort. Groundbreaking could take place at the end of this year or early

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42 Potential Immigration Benefits 1. E-2 Treaty-Investor Nonimmigrant Status. As a Mexican national, your investment in a commercial enterprise may provide the foundation to apply for and obtain an E-2 treaty-investor nonimmigrant visa based on the North American Free Trade Agreement. In short, an E-2 visa is available to a principal investor to develop and direct the operations of a U.S. business and other Mexican nationals who will hold key positions, such as executives, managers, or essentialknowledge personnel, in a Mexican-majority-owned U.S. business. To qualify for an E-2 visa, an applicant must establish the following items about the investment: The investment must be at risk. In other words, if the U.S. business fails, the capital invested must be subject to loss, e.g., unsecured personal business capital or capital secured by personal assets. Mortgage debt or commercially-secured loans do not qualify. The investment must be substantial. To determine substantiality, three factors are considered: (i) the investment amount against the total cost to create the business; (ii) the amount normally considered sufficient to ensure the investor s commitment to a successful operation; and (iii) the magnitude of investment to support the likelihood of success. Although there is no minimum investment amount, the lower the cost of the U.S. business, the higher, proportionately, the investment must be. The investment may not be marginal, which means that the U.S. business must have the present or future capacity to generate more than a minimal living for the investor and his or her family. You would apply for an E-2 visa by submitting the appropriate applications, along with documentary evidence about the investment and U.S. commercial business to the U.S. Consulate that has jurisdiction over your residence in Mexico. The U.S. Consulate then will schedule an interview. If the consular officer approves the application, then he or she will issue a visa that may last up to five years. The first time when you enter the United States as an E-2 nonimmigrant, the immigration inspector should grant you a one-year period of authorized stay; each subsequent entry will result in your receiving a two-year authorization to remain in the United States. In addition, you may apply to renew your E-2 visa indefinitely, so long as your investment remains and you continue to direct and develop the investment. Spouses and unmarried children under 21 years old also may apply for and obtain E-2 visas, which would enable them to reside and attend school in the United States; only spouses, however, may seek employment. company, or (iii) investing in an existing business, which results in a 40-percent increase in the enterprise s net worth or number of employees. The investment must take the form of a contribution of at-risk capital made for the purpose of generating a return. You must have obtained the capital invested through lawful means. The enterprise must benefit the U.S. economy and create full-time employment for at least ten U.S. workers. You must manage the enterprise, either through day-to-day managerial control or though policy formulation. You would file an immigrant petition by alien entrepreneur, along with documentary evidence of the new business and investment, with the U.S. Citizenship and Immigration Services ( USCIS ). If approved, you and each dependent family member, may apply for an immigrant visa and alien registration at the U.S. Consulate in Ciudad Juarez. Upon approval, each applicant would receive conditional lawful permanent resident status for two years. You then would request the USCIS within 90 days prior to the two-year anniversary of having obtained lawful permanent resident status to remove the conditional status of the residency. Depending on your circumstances, other immigration alternatives also may be available. You therefore should consult with an immigration attorney to determine which option is best DALLAS Lawful Permanent Resident Status. The U.S. government makes available immigrant visas (green cards) to qualified foreign nationals who invest at least $1 million in a new U.S. commercial enterprise. To qualify for immigrant-investor status, you ordinarily must meet each of the following requirements: You must invest or actively be in the process of investing at least $1 million in an enterprise. You must make the investment in a new commercial enterprise, which you may establish by (i) creating an original business, (ii) purchasing and reorganizing an existing 41

43 HWY 151 & Military, LP 6700 Arena Boulevard Laredo, Texas September, 2006 EARNEST MONEY: CLOSING: TITLE: COMMISSIONS: $ cash to be deposited in escrow with Chicago Title Company. Closing will take place within seven (7) days after substantial completion of the Unit. At Closing, Seller will convey the Property to Purchaser by Special Warranty Deed and furnish Purchaser, at Seller's expense, an Owner's Policy of Title Insurance in the full amount of the Purchase Price. Re: Nonbinding Letter of Intent square feet of space in the Development situated in San Antonio, Bexar County, Texas PRORATIONS: Ad valorem taxes, assessments, and all other applicable costs will be prorated on the Closing date. Gentlemen: HWY 151 & Military, LP or an affiliated entity ("Seller") desires to establish a business condominium to be known as on the Property described below located in San Antonio, Texas. If and when Seller elects to proceed with the development of such condominium, the Purchaser named below desires to enter into a contract to purchase the Unit described below. This letter serves to outline the general terms and conditions upon which the parties would proceed with such purchase and sale transaction. This letter is merely an expression of interest and is not intended to be a binding contract. Nothing contained in this letter will be deemed or construed to create any obligations or liabilities on either party of any nature whatsoever. Therefore, unless and until a binding contract is executed and delivered by the parties hereto, neither party will have any rights, duties, obligations or liabilities of any nature whatsoever under or with respect to the subject matter of this letter. CONTRACT: The parties will execute a contract for the purchase and sale of the Unit within thirty (30) days after Seller notifies Purchaser that Seller is prepared to proceed with the development of the condominium. If Seller fails to so notify Purchaser within days after the date of this letter, then this letter will be null and void. If the foregoing is acceptable, please execute below and return a copy of this letter to the undersigned on or before 5:00 P.M., Houston, Texas time, [DATE], 2006, or this letter of intent will be considered null and void. Sincerely, SELLER: PURCHASER: HWY 151 & MILITARY, LP, a Texas limited partnership SELLER: UNIT: HWY 151 & Military, LP or an affiliated entity A store space containing approximately square feet, as generally described in Exhibit "A" and located substantially in the area depicted on the site plan attached hereto as Exhibit "C". Seller will construct the Unit generally in accordance with the specifications described in Exhibit "B". By: Its: Hwy 151 & Military GP, LLC, a Texas limited liability company General Partner By: Julian L. DeAyala, Manager PURCHASE PRICE: $ per square foot of space in the Unit. TERMS OF PURCHASE: Cash at closing HOUSTON Page 1 of HOUSTON Page 2 of 6 42

44 ACCEPTED AND AGREED TO: this day of, PURCHASER: By: Name: Title: EXHIBIT "A" CONDOMINIUM & PROPERTY DESCRIPTIONS will be located within a tract of land containing approximately 80 acres situated at the Northwest intersection of Texas Highway 151 and West Military Drive in San Antonio, Bexar County, Texas (the "Development"). will be located on a 17-acre tract in the Development situated at the Northeast corner of North Ellison Drive and West Military Drive. Seller intends to establish as a business condominium (the "Condominium") pursuant to the Texas Uniform Condominium Act. The Condominium will be comprised of the 17- acre tract of land, together with buildings and other improvements containing approximately 130,000 square feet of retail space substantially in accordance with the site plan attached hereto as Exhibit "C". Each store space within the buildings will comprise a separate unit in the Condominium (collectively the "Units" and each individually a "Unit"). Title to each Unit will include a proportionate share of the common areas of the Condominium. A Unit owners' association (the "Association") will be established for the Condominium. Among other things, the Association will have authority to levy assessments for (1) common area charges (e.g., electricity, water, landscaping and maintenance), (2) a management fee, and (3) the cost of advertising to promote. In addition a property owners' association will be established for the Development (the "Development Association"). The Development Association will have the authority to levy assessments on the units in the condominium for costs of maintaining the common areas of the Development HOUSTON Page 3 of HOUSTON Page 4 of 6 43

45 EXHIBIT "B" UNIT CONDITION AT CLOSING/DELIVERY EXHIBIT "C" SITE PLAN Each Unit will be a "basic cold dark shell" ready for Purchaser's build out. A "basic cold dark shell" means that only the following items will be provided in each Unit: 1. 5 reinforced concrete floor slab will be installed; 2. sanitary sewer service will be provided under slab; 3. domestic water service will be provided overhead; 4. fire sprinkler system will be provided as turned-up heads; 5. electrical service is provided at an electrical service room in each building; 6. structural steel designed areas to carry roof top A/C units; and 7. store front glass and glazing with glass and aluminum door HOUSTON Page 5 of HOUSTON Page 6 of 6 44

46 6700 Arena Road Laredo, TX Alamo Architects 108 King William San Antonio, Tx