It's August 28th.

We're just a few days away from September.

My gosh, it's uh gone pretty quick.

All of our counselors present, Mr.

Adams is unable to attend and excuse.

We'll start out this morning for a presentation on 1A about the proposed agreements for the Cul de Sac development for the city owned property on the Southwest Corner of University of Mesa Drive.

This has been many years in the coming.

Are we using decades?

Almost half a century.

I don't remember the history about when it started, but it's been quite an uh evolution and iteration about what's been happening there.

So that we have uh Jeff, Jimmy, and Ryan.

Good morning, Mayor and Council.

We are pleased to be here today to be able to present to you the final agreements with Cal de Sac.

Um again, Jeff McVay, manager of urban transformation.

With me is Jimmy Tracchio, Dante Transformation Project Manager, and Ryan Johnson, the cul-de-sac CEO and co-founder.

You'll hear some more from Ryan pretty soon, and he can introduce his team as well.

Um you were mentioning the there's a long history here.

Um, and I will only um remind you of the background as it relates to our current arrangement with Cal de Sac versus the full history of the site.

But this started about October 2023 when we did a request for proposals and we selected Cal de Sac from that process.

Um our goal has always been to create a new vibrant neighborhood that supports our downtown, but also supports and is complementary to the neighborhood of surrounding it.

Both the city and cul-de-sac have completed appraisals uh about a year ago.

Um, those are there for reference.

We will talk about purchase price later in the in the agreement or in the presentation.

Um as a reminder, council did approve uh an MOU with Cul-de-Sec back in April 2024, and that is currently still in effect until September 15th.

And we think that uh with the council agenda September 8th, we we're gonna make it just in time.

Um, and then so with that, I'm gonna hand it over to Ryan, and Ryan's gonna give you an overview of Cal de Sac and their proposal for the for the site.

All right, do I use these buttons?

Yeah.

All right.

Uh greetings, Mayor and Council.

Let's jump in.

So the our slides haven't changed much.

One thing that's changed since we met in March is that the number of Waymo rides has doubled.

And so the transportation trends are moving quickly.

Uh it's the real estate that typically moves more slowly, and we're so excited to build something wonderful here in Mesa.

At Cul-de-Sac, for those I'll present it as if it's brand new.

At Cul-de-Sac, we build walkable mixed-use neighborhoods designed for a culture of belonging, transportation freedom, and thriving local retail.

And we've got a team with decades of experience.

I've got James and Aaron with me today in the back.

And uh we've our first project is Cul-de-sac Tempe.

That's our flagship project.

We also have a couple pocket neighborhoods that are for sale in Atlanta.

We'll actually have the model homes done on those next month, so that's an exciting time for us.

Um, and then our next our next neighborhood, as we say, is Cul-de-sac Mesa.

And we're really excited for this, and we could bring something wonderful to downtown as we grow it together.

Uh, here's us getting in the Waymo in this metaphorical new chapter from here from Tempe.

Uh, this is uh a key node in Greater Phoenix uh along the light rail corridor.

And we've developed it hand in hand with the city and the community.

Uh it's also exciting to have City Manager Butler in his seat now.

And the key details of the project, it's gonna have uh a thousand residential units across the site, 25 to 50,000 retail feet of square retail square footage, and 25 to 50,000 square feet of amenity square footage.

And we've heard so much about people want a bold energetic vision that being that brings quality homeownership opportunities, uh that rights has right sized parking, uh, and that's small business support.

Uh it's it's steps away from downtown Mesa, and this is an opportunity to transform into a remarkable car light hub that's gonna have the homeownership opportunities that push sustainability, grow talent, and sets the standard as a leading neighborhood in Arizona.

Uh there's a number of things that are are this is gonna bring to the city.

Uh it'll offer strong ties enabled by homeownership.

It's gonna have quality design and great art, which Mesa already has so much of, and we can build on that.

A sustainable lifestyle style and vibrant retail that creates opportunities for new businesses to emerge.

We'll have the first phase, which will have first sale two and three bedroom townhomes that are fee simple.

They'll have a dedicated parking spot, the flexible commercial spaces that foster a sense of community, like you've seen us have a cul-de-sac tempe.

And in future phases, we'll have additional unit types and varying structures, and also phase three in particular, we'll have more time to see how the market evolves.

This is some of our influences, including desert modern and historical Spanish influences.