$ 1,532,000

EXTERIOR & COMMON AREA RENOVATIONS

• New asphalt shingle roofs (where needed)
• Landscaping upgrades
• Repairs to siding and gable brick work
• Repairs and painting to fencing
• Repairs to sidewalks and resurfacing of parking lot
• Laundry room upgrades
• New lighting in hallways and entrance areas
• New carpet/vinyl and paint in hallways

$ 1,715,500

INTERIOR SUITE RENOVATIONS

• New fridge, stove, hood fan, dishwasher
• New washer and dryer (in townhomes only)
• New cabinets and countertops in kitchen
• New countertops and vanity in bathroom
• New carpets and linoleum flooring
• Complete interior paint (ceiling, walls, trim and baseboards)
• New windows and screen doors
• New window coverings and light fixtures

Renovations Summary

Renovation cost $3,247,500

Renovation cost per suite $25,773

Renovation deadline August 2005

Bridging lease 2 years

* The information contained on the executive summary is from sources deemed to be reliable, and accurate. However, numbers listed as approximations are subject to possible change.