Investor Newsletter #2

8/12/2019 Investor Newsletter #2

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N E W S L E T T E R

hinatown Boutique Hotel Project

ChinatownsBoutique Hotel Project

And itbegins::hase I has been completed - building acquired!

And we are excited to announce that in the months

ince youve heard from us last, we have procured

nancing with Lewis & Clark Bank, with the

ssistance of M+K Consultants, for a total sum of

2M, and an additional $750,000 from the Portland

Development Commission. At present we are in

nderwriting and hope closing will be completed at

he end of March.

Making progress inside...

hus far Matts construction crew from Building

locks, together with our partner, Gabe, from

Groundswell Development, has begun some basic

emolition on the building, removing the many

mezzanines the previous tenants installed on the

rst floor for their nonprofit work. We are exposing

he ceilings as well so that the structural engineers

an get a clearer picture of what reinforcement work

eeds to be done in case of an earthquake (which

eems ever looming...)

We recently did a walk through with the state

istoric preservation specialist and our consultants

t Heritage Consulting, ensuring our plans for

emolition wont compromise our chances for

egistering the building on the national historic

egister and the historic tax credit we are applying

or at the federal and state level. The response was

ll good news, and we are optimistic things will

roceed with no problems under the excellent

uidance of Rob Mawson from Heritage Consulting,

who has been a great advocate for us every step of

he way.

Next steps for construction

Our architect, Phil Sydnor, of Integrate Architecture,

has completed our exterior plan set, including paint

colors, minor exterior modifications, and sign, to the

citys design review office. They will have 8 weeks

to review, comment and approve or disapprove of

our plans. We are optimistic that with our

numerous consultations with the various city

departments, including fire, life, safety and historic

review, and with the assistance of our renowned

historian/architect consultant, Bill Hawkins, that we

should have little pushback on our proposed plans.With our teams respective skill sets, combined we

seem to have the right amount of experience and

neuroses to be getting through all of the necessary

hurdles mostly unscathed.

Our current focus is completing the design set for

permitting, which will require final data from all of

our consultants during this predevelopment phase.

There are some major permitting requirement

changes that go into effect April 1, so we are driving

full speed ahead to get our permit set completed

and in by March 31.

PublicResponse::With a few of our existing connections, and a fe

new ones, we have already had gotten some pr

Portlands Chinatown is a notoriously underse

area that has little to no market rate businesses,

a majority of the real estate occupied by social

service agencies offering low income housing, s

kitchens and other services for those in need. T

local economic development agency, The Portla

Development Commission, has invested heavilthe area to incentivize economic investment, bu

few, if any, developers have taken the bait. As

our project is the first property sale in the area i

last twelve years!

The press is extremely interested in what could

the next up and coming neighborhood, and the

want to be the first to break the news. Weve p

the press as much as possible until we have a m

solid brand and PR strategy in place, but weve

already had articles published in the Daily Jour

of Commerce, the Oregon Public Broadcasting

website and a proposal being submitted for

publication in the New York Times Style SectionSpring 2015. There is a lot of excitement aroun

vision, but with so much excitement, we know

must plan carefully and execute perfectly for th

concept to be embraced by the local, national an

international community. We have a momentu

that is rare, and could turn into something muc

larger than ourselves... we can all feel it. And s

from here, we keep our heads down in plannin

working to recruit the best advisors and consul

to guide us through this incredible process. Lif

either a daring adventure or nothing at all, righ

A newsletter keeping our investors, friends and family abreast of a project to hel

reinvent Portlands Chinatown...

A Quarterly Newsletter Issue No. 2 - Winter 20

~ View from the rooftop deck ~

Once completed, we will have a fully

accessible rooftop deck with gardens, and if

Gabe gets his way, Portlands first full sized

shuffle board court!


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N E W S L E T T E R

Chinatown Boutique Hotel

he Pioneer

dependence :: Transformation ::

urney :: Edge of the Woods :: Clearing ::

rtune :: Territory ::

ur team is a group of serial

ntrepreneurs, and anyone that has

ken the leap into self employment

nows that it is an adventure unlike

ny other. And even more than just

ofessional adventuring, one of our

mmon threads is that of seeking

ersonal adventure, never sure where

e path will take us, but excited to be

ying it nevertheless.

nd Oregonians in particular, from

e time of the Oregon trail and those

oneering folks with Oregon or

ust on their bumpers, traveled into

e great unknown in hopes of

eating the life they had always

anted. We see our guests as great

dventurers too, choosing to visit our

tle city because of what unknown

dventures it might hold for them.

The Urban Lodge

Home :: Refuge :: Sanctuary :: Belong ::

Restoration :: Arrival ::

We want our hotel to be a quiet respite

for our guests in the middle of a

bustling city center. We are just two

blocks from all public transit lines,

four blocks from the train station, and

we are in the heart of Portlands

Entertainment District, with

numerous bars, restaurants and

galleries just steps away. While we

hope our guests will seek out these

amenities, we also want them to feelthat staying with us means they are

being provided a beautiful, relaxing

environment, away from the

excitement outside.

We hope to achieve this feeling with

our choice of interior decor, our

oversized fireplace, beautiful couches,

community tables, and calming colors.

These experiences will be offered to

our customers in our lounge/lobby,

our rooftop deck, and in every guest

room.

The Continuum

Layers :: Influence :: Surprise ::

Discovery :: Connection ::

While we are seeking to renovate and

modernize an historic building, we all

understand that we are merely the

next chapter in the many layers of

history that can be found in this

building, in this neighborhood, and

even the northwest. We want to

recognize and commemorate that fact,

both in how we tell the story of our

building, how we help our

neighborhood grow, and in the littleways that we decorate this space...

with little unexpected surprises from

the past to be discovered by visitors.

One of the most outstanding

discoveries in our building has been

the little artifacts found throughout

the space, from the writing on the

walls of the old sailors rooms, to a

vase the size of your pinky. And the

years and years of newspapers

documenting historic events is a gem

we couldnt be happier to preserve.

The Epicenter

Core :: Heart :: Energy :: Emanation

The hotel is located in the center o

Old Town/Chinatown, the center

the Entertainment District, blocks

the posh Pearl District, and just ac

Burnside from Portland Downtow

proper. It is our hope that we can

become an epicenter of activity fo

district, and a place that is known

emanating the best of what Portla

about.

We hope that Old Town/Chinatow

can become the heart of culture in

Portland, and that we will be a

significant player in that change

happening. And we hope that wi

of these pillars, that we are able to

create a place that is our version o

what Portlands society is, and alw

was intended to be... not the hipst

and irony, but the sincerity, the

welcoming nature, the willingness

try new things without fear, and a

the while remembering what was.

The Branding ProcessCreating the identity that we want to share with the world...Branding Firm: Jerusha Design, Talie Smith (graphics & web design) & Scott Smith (content manager and wordsmith)

e branding process is when we work with a company that listens to our vision of what we want our hotel to be, and those professionals digest that informat

d turn it into imagery, logo and a general message and feel that we will be conveying to our customers before they ever arrive at our place of business. They

ate the experience for our customer from the moment they click on our website or read one of our brochures. Its tough work for the branding agency, with

push and pull from clients, but the end result, if youre working with a talented team, can be fantastic.

low are the brand pillars that our team at Jerusha Design took away from our initial meetings, meaning the four themes they noticed in all of the little sticktes of wantsand thoughtsand dreamsfor this hotel vision. Each pillar will be summarized, and key words that were used to get us to that point. The followin

ge will show a collage of imagery that are small pieces of what Jerusha envisioned were complimentary to the brand we were creating.

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N E W S L E T T E R

hinatown Boutique Hotel Project

The collage above are small pieces of imagery thaterusha envisioned when considering our conceptnd vision. The sum of its parts is what must beonsidered as each piece alone might not makeense, together, you can begin to see a visiononcept coming to fruition.

Once our brand pillars were reviewed, wetarted considering words, phrases and conceptsor a name. One of my good friends summarized

what she envisioned for our brand, which was

Wes Anderson meets Downton Abbey... and well thought, Hmmm... maybe thats right!

We wanted something timeless but modern,ophisticated but welcoming, Dead Poetsociety meets the Seamans Friendship Society...

with a little bit of high society. And with all ofhat in mind, we wanted something that wasniquely our vision of Portland and this speciallace. And so Jerusha took all of that

nformation, together with our visuals, and aftermuch deliberation, Jerusha gave us the name:

he Society Hotel.

Once we had a name selected, it was time to that name into a logo that would represent isingle image so many little details we hopedconvey to our future customers. After seeindirection for interiors, Jerusha presented us a timeless black and white logo, with a classfont, but with a bit of whimsy with the hint owink surrounding the handwritten The.

And so, we have reached a major milestone the project, having selected a name and a log

Now, when you talk about the project, youllhave a name to reference, and a brand directthat you can start to see where all of this is gaesthetically.

Its all starting to get exciting now that weremoving away from just talking about ideas, these ideas are becoming realities. Thank yoagain for your support in making this possibStay tuned for our next newsletter in Spring2014...

Sincerely, Matt, Jonathan, Jessie & Gabe

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Investor Newsletter #2