Development Plan
Project Phasing
The UMusic Row development comprises two phases of development, including land acquisition & planning, as well as the ultimate construction of over 405,000 sq. ft of mixed-use space. Only 3.5 acres of the land acquired and entitled in Phase I will be contributed to Phase II. The remaining 2.5 acres will remain held by the development entity for sale or development at a future date. This upside is not represented in the model or projected returns.
Phase I: Pre-Development
Land acquisition, planning, entitlement
Phase II: UMG Branded Assets
Construction of UMG Hotel & Venue
Phase III: Excess Land
Sale or development of remaining acreage*
Land Acquisition & Entitlement
Capital from investors in Phase I will go toward the land acquisition for the entire area highlighted below, totaling 5.95 acres. Funds will also be used to complete the planning and design processes.
Construction of UMusic Hotel & Venue
In January 2025, the sponsor will seek to raise the development capital for the UMusic Hotel and adjacent music venue spaces. Phase I investors will have the opportunity to exit or contribute their equity investment to this development. Approximately 3.5 acres, will go to this development.
UMusic Hotel
Construction of UMusic Hotel & Venue
UMusic Venue
Universal Music Group Venue
Additional Upside in Excess Acreage
Following the development of Phase II, there will be 2.5 +/- acres remaining. These pieces will be sold or developed in a future phase. The impact of this is not represented in the pro forma return projections.
