Design Development 2.0 (4.17.09)

• Met at the space with owner & architect
• Weighed options on no entry door from corridor and no windows in bedroom 
• Agreed to move forward with current plan
• Visited IKEA to look at cabinet options

Financing Strategy 3.0 (4.16.09)

• Decided construction loan would be mine with securitization by existing owner
• Once BB&T has required financials an appraisal will be initiated
• Max LTV of 80% of completed value for construction loan

Design Development 1.0 (4.8.09)

• Reviewed progression of design
• Main outstanding issue is articulation of 'the wall'

Reengaged Attorney (4.8.09)

• asked attorney to get re-amendment of docs into their work flow
• reviewed what the intention of new changes

COA Board Meeting (4.7.09)

• Compromised on patio rail location allowing for privacy of resident and standing room at entrance for visitors
• Agreed cleanest way to handle doc amendments is to strike commercial use all together
• discussed possible alternatives for the garage exhaust fan

Reengage Contractor 'A' (4.1.09)

• Reached out to general contractor that had previously looked at the space
• Once design is finalized they will re-estimate cost
• Sent original estimate for reference

Schematic Design 2.0 (4.1.09)

• Converged on a single scheme
• Discussed pros/cons of eliminating hall door

Financing Strategy 2.0 (3.29.09)

• Discussed securing the loan with the shell alone 
• No non recourse loans by BB&T... need personal guarantee

Partnership Meeting (3.27.09)

• Contemplated pros/cons of 'open' 1/1 floor plan
• Discussed securing financing with shell as colateral rather than guarantees
• Reviewed comp research and resulting tweaks to pro forma
• Decided to move forward with adjusting condo docs to limit future use of space to residential
  

Schematic Design 1.0 (3.25.09)

• Met with Architect to review round one of schematics
  
• Discussed 1 bed / 1 bath scenario vs 1 bed / 1.5 bath w/ den
• Decided nature of space along with patio dictated creating a place to entertain
• Planned to pursue and open 'loft like' floor plan

Financing Strategy 1.0 (3.24.09)

• Contacted BB&T regarding financing up-fit
• Received required documentation and discussed LTV scenarios
  

Architect Brought Onboard (3.17.09)

• Met at space with architect of choice
  
• Discussed vision for the space before
• Agreed to work on design together
  

COA Reengaged (3.16.09)

• Need to legally convert the space from commercial use to residential use
• Contacted property manager regarding amendment of Condo Declaration and Bylaws

Partnership Confirmed (3.13.09)

• Presented pro forma analysis, of conversion and sale of unit, to existing owner
• Based on financial model a partnership was formed
• Existing owner as equity/land partner and myself as developer.