Hotel Development Plan- Pacifica, CA StonePark Capital

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1 Hotel Development Plan- Pacifica, CA StonePark Capital Introduction: For the past 7 months, StonePark Capital and Pacific Inns have conducted a thorough analysis of the potential for a new construction hotel in the city of Pacifica, CA. We have concluded that this presents a unique opportunity requiring a very close relationship between the developer, the city, and the existing neighbors. Due to the city s vision to see this this particular part of Pacifica grow as a tourism destination in what has traditionally been a bedroom community, it is very important that the developer shows flexibility in many of the design and programming decisions. In order to better understand how to ensure the congruence of hospitality and neighborhood in a beach community, StonePark Capital has engaged Brian Cearnal of Cearnal Collective to layout a very efficient and thoughtful design that satisfies the needs of the hotel, the vision of the city, the requirements of the Coastal Commission, and what we feel will be important to the existing neighbors. Cearnal has done extensive hospitality, residential, and commercial work in the coastal town of Santa Barbara, CA, which holds very strict architectural and design guidelines. The team is currently designing StonePark Capital s 68 room addition to its downtown property in Santa Barbara. The Cearnal team has shown the ability to design projects that skillfully incorporate the requirements for efficient hotel operations with appealing designs that have been welcomed by the community. StonePark Capital and Pacific Inns both feel that we have an opportunity to bring a unique hospitality offering that will be the cornerstone for future tourism opportunities in Pacifica. The development process will be lengthy, and we feel strongly that the team will be as important as the design. StonePark Capital, Pacific Inns and Cearnal Collective have a proven history of working together through complicated entitlement situations, and offer a complete development package. What we are presenting here represents our current vision for the property: To develop an efficient and beautiful hotel property which fits within the unique setting of Pacifica. This team is prepared for an approval process that could take years, and will see this project all the way to the finish line. We also understand that the success of this project is contingent upon a strong collaborative effort between the city and the community of Pacifica. We understand that this particular piece of property has been considered for a variety of uses, including an ocean education center, so we expect to have a

2 healthy dialogue with our new neighbors. Although we are very clear on what will make this hotel property successful in terms of amenity offerings and programming, we are prepared to incorporate the community s ideas as to how this project will fit within the established landscape of Pacifica. This project represents a step toward a revitalization of this part of Pacifica, and we will want to make sure that we are being responsive to the direction this city would like to follow. This is a pioneering project for this part of the city, though we feel strongly that this hotel will breathe tourism life to Palmetto and Montecito Streets, and we will stoke investment into this beautiful corridor of the California Coast. There are many details of this project that simply cannot be decided on at this point, but rather we are comfortable showing our vision for what we feel will work best in this location. Just like a number of our other hotel projects, we rely heavily on the community to offer their input on what will make this project not only successful, but a welcome addition to Pacifica. From our time studying Pacifica, we understand what programming offerings are necessary, but we will be welcoming input from our neighbors and community as to what is ultimately created. I. Hotel Development Program with Schedule (Please see Site Concept ) 109 Hotel Rooms (see photo examples) - Building A 54 Rooms (33,510 sq ft) - Building B 23 Rooms (14,538 sq ft) - Building C 27 Rooms (16,934 sq ft) Guest Rooms are divided among three separate buildings in order to provide maximum ocean frontage, while also respecting view corridors to lobby and restaurant patrons, and guests with Courtyard rooms. The design also respects the existing neighbors, and creates separation between the existing developed properties. Orientation to the ocean without presenting disproportionate massing is critical to creating a project that will be in congruence with the character of the community. This is achieved by incorporating a step back in the architecture that is on Beach Boulevard, and providing relief and access at each of the corners of the property. Restaurant/Lobby- 10,977 sq ft The sense of arrival is critical to a beachfront property, and we achieve this without sacrificing room count by locating the lobby on the southwest corner of the property. This allows us to have guests arriving with a strong view corridor to the ocean, while also creating separation from the neighboring property. This will also be the location for our restaurant, which will be open to both guests and the public which will further activate this corridor for the community. The restaurant will be full service and be required to be open all business hours as there are not sufficient offerings in the immediate area. Parking Garage- 53,481 sq ft We have created a parking garage that is located in the center of the property, but convenient to both the hotel property as well as the proposed library. We have allowed for optionality with this design for a

3 variety of configurations, but most importantly it satisfies all the necessary parking for the property (Hotel, restaurant, library). If we build an underground level to the parking garage we would be able to provide 100 additional parking spaces to promote further development on Palmetto. Accommodating all necessary parking within the interior of the property is the most efficient use of space and does not sacrifice ocean view nor does it occupy valuable street frontage. Note that we have allowed for limited parking on the northwest corner of the property in order to provide handicap parking for visitors wanting to access the beach and pier. In terms of design, this also allows some relief in terms of massing on the block. Retail Space- 7,000 sq ft The most logical location for the retail space was on Palmetto, where we have flexible options for storefronts. This will be a good first step in activating the street with new and modern retail opportunities that will service both hotel guests and the community. This provides either the chicken or the egg in terms of creating a vibrant and energized streetscape. Beach Boulevard (please see photo example) The re-development of this public access portion of the project is crucial for the community of Pacifica. The streetscape must be a complement to the hotel, while also working to enhance the public s ability to enjoy the beach. Andrew Firestone, Co-Founder of StonePark Capital, was formerly on the executive team at Ty Warner Hotels & Resorts which completed a full renovation of the beach front Four Seasons Resort, The Biltmore in Montecito, CA. A large part of the consideration for that project was incorporating and enhancing the public spaces which served as access for residents and visitors to Butterfly Beach. The Pacifica project is similar to the Biltmore in that although these projects are both ocean fronting, there are public roads, walkways and beach access points that separate the properties from the ocean. The developer must be able to incorporate a landscape and hardscape design in this area to enhance this portion of the property without alienating non-hotel guests and providing a benefit for the entire community. Development Narrative: The Coastline and Beach Boulevard are the centerpieces for this concept, and will be the focus of the experience. We are creating a natural setting for both guests and public that will complement this beautiful stretch of California. The architecture will step back from Beach Boulevard, utilizing natural materials (durable woods, copper, Cor-Ten, concrete) that are both appropriate and lasting. We envision a horizontal motif that helps the architecture settle into the site and the community. Landscaping will introduce native coastal plantings (Coastal Sage, Monterey Cyprus, etc) as a gracious foreground and foundation to the architecture. The primary connection from Beach Boulevard and the property is at the South Western corner of the site. This is a natural connection to the pedestrian walkway at the Anchor node. Here one can enter The Hotel through a 2 story volume space that includes the restaurant & lobby, or connect to Palmetto Ave and public parking via a 10 wide coastal access pedestrian way. This pedestrian access parallels the entrance drive to The Hotel from Palmetto Ave, which terminates at a porte-cochere/lobby plaza and

4 entrance to parking. There is proposed retail space on Palmetto, near the entrance to the hotel which will be a first step in activating this new main street. We expect to drive tourism throughout Pacifica, especially locations that are walkable. We have studied a number of parking scenarios, and believe that a pre-cast above grade parking structure integrated into (and hidden from) the architecture of the Library and the New Retail storefronts makes the most economic sense. Because The Hotel wants to be along the western edge of the site and the New Retail along Palmetto Ave, the middle of the site is ideally used for parking. However, we are open to the idea of additional spaces or all the spaces underground, even though we are concerned about the resultant costs. The Hotel would utilize conference space in The Library connected through an arcade via the parking structure, which also serves as parking and thus entrance to The Library. There will be a strong operational relationship between the hotel and library in order to ensure that the meeting spaces be run efficiently. We imagine that there will be a strong relationship between these two properties forged by architecture and programming collaboration.

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