Scottsdale Projects - Resorts & Hotels Updated October 2016

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1 Property Renovation Details Location Project Costs Status Formerly Hotel Indigo, the hotel became a Starwood Hotels and 4415 N. Civic Aloft Resorts brand. This is the first Aloft hotel in. The hotel Center Plaza, underwent a $4 million renovation for the transition. Andaz Projects - Resorts & Hotels Hyatt Hotels Corporation announced the opening of Andaz Resort & Spa. Plans call for 201 bungalow-style guest rooms with mid-century, desert inspired interiors. The resort will also include a full service spa and salon, a pool overlooking Camelback Mountain, and more than 20,000 square feet of meeting and event spaces on more than 22 acres of land N. Road, $4 million Complete May 2016 In Progress November 2016 Embassy Suites New ownership spent up to $22 million to renovate the property, converting Chaparral Suites into an Embassy Suites N. Road, $22 million Complete July 2016 Fairmont Princess Fairmont Princess opened an additional 102 new guest rooms for a total of 750. This expansion and renovation included three luxury suites, the new Sunset Beach Pool, the Great Lawn, and Western town event venue E. Princess Drive, $60 million Complete Summer 2016 FireSky Resort Mountain Shadows Reata Ranch Guest House Ritz-Carlton Paradise Resort Sanctuary Camelback Mountain Resort & Spa The Saguaro New ownership plans to renovate the space with new guest rooms and dining concepts. Plans call for 183 modern guest rooms, a restaurant with exhibition kitchen, two pools, a high-tech fitness facility and a fully revamped 18-hole golf course. The resort will have 12,500 square feet or indoor meeting space and 25,000 square feet of outdoor event space. The project is a Western-themed resort community on a 220-acre site in North near the McDowell Sonoran Preserve. The site will include 110 resort units. The resort will include 200 suites and bungalows along with 80 resort villas. The resort will be located in the center of the project, with an elevated lobby that will not only enjoy sweeping views of Camelback and Mummy Mountain, but also will become an iconic architectural feature in the Town of Paradise. The resort will feature all the amenities you would expect from the Ritz-Carlton, including exceptional fine dining, inviting open spaces and landscaping throughout, a world-class spa, and many other exciting features. Renovations and addition to the 3,800-square-foot Spa House included a four-bedroom addition. The hotel added the Agave Ballroom and Patio, 5,285-square-feet of indoor and outdoor meeting space that opens up to Civic Center Mall. The hotel also renovated its 194 guest rooms N. Road, 5517 E. Lincoln Rio Verde Drive and 128th Street, Lincoln and Mockingbird Drive, Paradise 5700 E. McDonald 4000 N. Drinkwater Blvd., $75 million (cost includes golf course) In Progress Early 2017 Received City Approval Complete April 2016 Complete October 2016 WaterView Los Angeles-based developer Stockdale Capital Partners plans for a 269-room hotel along the Arizona Canal in downtown. The hotel will feature a rooftop pool and a street level day spa, event center, meeting rooms, and nearly 11,00-square-feet of restaurants and retail. A fifth-floor penthouse room covers 1,300 square feet. The WaterView will also include a 240-unit apartment or condo community and a pedestrian bridge that connects to Fashion Square. Northeast corner of Camelback and Roads $175 million for entire mixeduse project Received City Approval

2 4200 N. Road, Complete August 2016 Venue Project Details Location Project Costs Status Bourbon & Bones Crab & Mermaid Fish Shop Fat Ox Grand Blue Hot Noodles, Cold Sake Leoni's Focaccia Projects - Restaurants Square One concepts brought this upscale chophouse to downtown. Square One concepts brought the seafood concept restaurant to downtown. Chef Matthew Carter of The Mission, The House and Zinc Bistro will focus on family-style dining at his first Italian restaurant. Grand Blue is a seafood concept restaurant from the owners of Pita Jungle. The space is 4,755 square feet with a 2,730- square-foot patio. Chef Joshua Hebert of Posh expanded his popular Posh Ramen Tuesdays with the opening of the ramen shop, Hot Noodles, Cold Sake. The owners of Phoenix's The Breadfruit opened this Italian restaurant, serving sandwiches and salads for lunch. The restaurant specializes in Roman-style focaccia N. Road, 6316 N. Road, Road and Shea Boulevard, 7167 E. Rancho Vista Drive, 7116 E. Mercer Lane, Complete Spring 2016 In Progress Fall 2016 Complete August 2016 Complete Summer 2016 Complete April 2016 Postino WineCafe Shops at Desert Zen Culinary SkySong Multi-Restaurant Development Upward Projects expanded its Postino WineCafe to with two new locations, one located at Kierland Commons and the other in the former Bank site. This open-air marketplace encompasses 78,000 square feet of restaurants and retail offerings all centered around Europeanstyle courtyard. Zen is an Asian fusion concept brought to by owner Rachel McAuley. McAuley tapped Chef Kelly Fletcher, formerly of House of Tricks in Tempe, as her executive chef. The 300- seat restaurant will specialize in authentic Thai, Chinese, Japanese, American and fusion cuisine. Wetta Ventures broke ground on the multi-restaurant development at SkySong in South. The 12,000- square-foot space will include three to four restaurants and a 3,000-square-foot garden. Kierland Commons and 4821 N. Road, Desert Complex, N. Pima Road, Complete Spring 2016 Complete August 2016 In Progress Fall 2016 SkySong, $5 million In Progress December 2016

3 Projects - Golf Venue Renovation Details Location Project Costs Status Mountain Shadows We-Ko-Pa Golf Club The 18-hole course, which will open with the hotel in early 2017, is being redeveloped to have all par-three holes. It is being designed to have a more social feel around the driving range. The Cholla course was updated with new grass on the course greens, new sand and drainage bunkers, and new plants native to the Sonoran Desert E. Lincoln E Toh Vee Circle, Fort McDowell $75 million (cost includes resort) In Progress Early 2017 $1.8 million Complete October 2016

4 Projects - Attractions Venue Project Details Location Project Costs Status The Willcox, Ariz.,-based winery opened its first tasting room in 4142 N. Marshall Carlson Creek Vineyard wine tasting downtown. The tasting room takes up 2,300 square Way, feet of space. Complete June 2016 Desert Discovery Center The Desert Discovery Center will be the focal point for visitors and residents to learn about the McDowell Sonoran Preserve and will provide opportunities to explore the Sonoran Desert. North ; proposed for Gateway Trailhead at the McDowell Sonoran Preserve IMAX OdySea Aquarium Polar Play Coming soon The 200,000-square-foot aquarium includes 2 million gallons of water for its numerous exhibits and myriad species. This 32-degree ice lounge offers family-friendly fun during the day and transforms into an ice-bar for adults in the evenings. Polar Play will serve ski-lodge food. Odysea in the Complete August 2016 In Progress Fall 2016 Ripley's Believe It or Not Coming soon RoadHouse Cinemas Shops at Desert A 45,000-square-foot movie theater with 11 screens, showing a mix of current and classic films. The theater offers reservedseating, a full kitchen, bakery and bar, as well as a patio with live music This open-air marketplace encompasses 78,000 square feet of restaurants and retail offerings all centered around Europeanstyle courtyard E. Indian Bend Road, Complete May 2016 Complete August 2016

5 Venue Renovation Details Location Project Costs Status 2nd Street Square Downtown One Phoenix Sky Harbor International Airport Entrada Projects - Other Updated June 2016 The mix-used project calls for ground-floor retail shops and highend condominiums. In the coming months and years, downtown will see improvements, from new public restrooms on Main Street to imoproved sidewalks and renovations to Civic Center Mall. City of is considering additional upgrades to the downtown area's public spaces. Nearly 3 million square feet for a mixed-use project with office buildings, shops, restaurants, a hotel, and apartments and condos. Phoenix Sky Harbor is undergoing a renovation to increase the capacity of Terminal 3 and phase out Terminal 2 to increase passenger capacity. The renovation includes expanding Terminal 3's security checkpoints and upgrading the ticket counters, luggage carousels, pick-up and drop-off curbs, and behind-the-scene infrastructures. The plans include nine additional aircraft gates The proposed mixed-use project would encompass 23 acres in South. Plans call for a mix of offices, condos, shops and a hotel in the former Auto Park site. Road and 2nd Street Downtown Road and Loop 101, Phoenix Sky Harbor International Airport 64th Street and McDowell Road, Construction begins in mid Construction begins in spring 2016 January 2017 $500 Million In Progress Promenade Plans for the shopping center call for a dozen new shops, new buildings and a public courtyard with canopies, fireplaces and space for outdoor dining. The expanson would cover 3.5 acres. Road and Frank Lloyd Wright Boulevard, L'Esperance Marketplace The space will replace vacant retail buildings with 77 apartments and ground-floor shops. The mixed-use project would cover 10 acres in North. Plans for the site include a five-story residential complex next to several shops and restaurants. Road and Earll Drive, Road and Chauncey Lane, $18 million $80 million Fashion Square The mall is looking to build high-rise apartments, office space, hotel and grocery stores. Camelback and roads,

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