Philadelphia Water Club -

Philadelphia, PA

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PHILADELPHIA WATER CLUB - Phase 1 of 3

“THE IMPERIUM” – 369 Luxury Apartments + Ground Floor Commercial Space + Parking Garage

1499 SOUTH CHRISTOPHER COLUMBUS PHILADELPHIA, PA

Targeted Construction Start Date: 3rd Quarter 2021

The Philadelphia Water Club is one of NRIA’s biggest projects. The Imperium is Phase 1 of NRIA’s massive project. At the present, it stands at the precipice of development. We are in final negotiations with the precast supplier to place an order for the parking garage. Once we have that, we can craft a beautiful parking deck that can contain all the tenants and visitors for the Water Club.

We have already received our zoning and building permits for the project. We are currently deciding between two finalists for the modular contract. We are proceeding to collect bids. Once we have all of these in hand, we can update our detailed cost estimate. This process should be completed sometime over the next two weeks. With this updated budget, we can also update the development financial Performa, which can be then disclosed to investors.

We expect that this updated budget, alongside our newly negotiated 10-year property tax abatement, will lower costs while increasing the building’s valuation once it is built, leased and stabilized. We will continue to reevaluate how we plan to build The Imperium, all in order to ensure we maximize our profits via cost-effective strategies.

As it can be gleamed based on these details, we are currently on-track to complete The Imperium. The building will create over 10,000 square feet of retail space, 369 luxury rental apartments and a parking garage in the Central Philadelphia Delaware Riverfront District. From this perspective, one will have one of the most scenic views in Philadelphia of the waterfront. The Imperium is part of Phase 1 of the Philadelphia Water Club, our private gated community. The Club features three all-new, ultra-modern 369-unit luxury apartment buildings. The Imperium, The Haven and The Reserve will all feature Smart Home technology, advanced water & air purification systems, urban gardens, large walking parks, and green roof decks, all built in an advanced, technology eco-friendly design. All three buildings will feature a “Green Roof Top” outdoor BBQ deck that offers entertainment, brilliant sunset views, spacious health clubs, spacious spa/sauna centers, massive exterior and interior pools, resident lounges, putting greens, walking and jogging trails, dog runs and a private outdoor community running track. These lifestyle amenities will be offered to renters. Tenants also have access to marina dock use, since we have riparian rights for the dock with the intention of building a restaurant with event space, an all-season pool, and a boat house equipped with multiple boat slips. We anticipate that this three-building project will increase a ton of revenue for this property.

PHILADELPHIA WATER CLUB - Phase 2 of 3

“THE HAVEN” – 369 Luxury Apartments + Ground Floor Commercial Space + Parking Garage

1401 SOUTH CHRISTOPHER COLUMBUS PHILADELPHIA, PA

Targeted Construction Start Date: 4th Quarter 2022

While we work on The Imperium, Phase 2 of the Philadelphia Water Club continues. The Haven has reached a major milestone. We received our zoning permit for the building, which allows us to launch work on construction on The Haven. However, we will have to wait until after Phase 1 of the Philadelphia Water Club to begin. We expect to break ground around 4th Quarter 2022.

The Haven will be The Imperium’s twin, both in terms of structure and style. The building has been completely approved. Furthermore, we will be setting the foundations in land we own outright. That means no variance necessary. This will speed up pre-development. We continue to determine ways to minimize costs and intend on carrying over cost saving tactics from The Imperium. This in addition to the already-negotiated 10-year property tax abatement will establish The Haven as a property with lower maintenance costs and increased revenue coming in.

The Haven will feature over 10,000 square feet of retail space, 369 luxury rental apartments and a parking garage in the Central Philadelphia Delaware Riverfront District. It stands near the riverfront, offering an incredible scenic Philadelphia view. The Philadelphia Water Club features three all-new, ultra-modern 369-unit luxury apartment buildings. The Imperium, The Haven and The Reserve will all feature Smart Home technology, advanced water & air purification systems, urban gardens, large walking parks, and green roof decks, all built in an advanced, technology eco-friendly design. The Haven will open up to a roof recreational center. “Green Roof Top” outdoor BBQ deck will offer entertainment, sunset views, health clubs, spa/sauna centers, exterior and interior pools, lounges, golf courses, walking and jogging trails, dog runs and a private outdoor community running track. These lifestyle amenities will be offered to all residents. Residents also have access to marina dock use, as we have acquired riparian rights for the dock with the intention of building a restaurant with event space, an all-season pool, and a boat house equipped with multiple boat slips.

PHILADELPHIA WATER CLUB - Phase 3 of 3

“THE RESERVE” – 369 Luxury Apartments + Ground Floor Commercial Space + Parking Garage

1401R SOUTH CHRISTOPHER COLUMBUS PHILADELPHIA, PA

Targeted Construction Start Date: 2nd Quarter 2024

The Imperium and The Haven will need to be completed before Phase 3 of the Philadelphia Water Club can be initiated. We thankfully have received zoning permits for The Reserve, which will be another 369-unit construction project. We anticipate we will break in the 2nd Quarter of 2024. Once the other two buildings in The Philadelphia Water Club are completed, we can begin work on The Reserve.

In all respects, The Reserve will match The Imperium and The Haven exactly. We will build all of this on land we own outright. All the while, we will continue to determine new method to reduce building costs. When accompanied with our approved 10-year tax abatement, we will maximize the value of the structure long before we break ground.

The Reserve continues the tradition of the prior phases of The Philadelphia Water Club. The Reserve will feature over 10,000 square feet of retail space, 369 luxury rental apartments and a parking garage in the Central Philadelphia Delaware Riverfront District. It offers a trademark beautiful view of the city. The Imperium, The Haven and The Reserve will all feature Smart Home technology, advanced water & air purification systems, urban gardens, large walking parks, and green roof decks, all built in an advanced, technology eco-friendly design. All three buildings will feature a “Green Roof Top” outdoor BBQ deck that offers entertainment, brilliant sunset views, spacious health clubs, spacious spa/sauna centers, massive exterior and interior pools, resident lounges, putting greens, walking and jogging trails, dog runs and a private outdoor community running track. These lifestyle amenities will be offered to all residents, but that’s not all. Residents also have access to marina dock use, as we have acquired riparian rights for the dock with the intention of building a restaurant with event space, an all-season pool, and a boat house equipped with multiple boat slips. This three-building project will be a massive success story and create tons of living space, once it is completed.