The Woodward Garden Block Development involves the revitalization of one of the last
derelict blocks located on Woodward between Mack and Warren. It is a four phased project.
The first two phases are financed and construction has been completed.

Phase I – South Parking Structure
The first phase of construction in the Woodward Garden Block Development entailed the
construction of a 302-space parking structure. The South Parking Structure is accessed on W. Alexandrine, tucked behind subsequent phases which are located on Woodward. Financing for this phase closed early 2008 and construction was completed in 2009.

Phase II – Blue Moon and New Commercial
The second phase of development involved the rehabilitation of a historic structure and new
construction. The historic two-story Blue Moon building, 3961-65 Woodward, was
constructed in 1886. The 5,580 sf building has been rehabilitated for commercial use with
retail on the first floor and office space on the second floor.

There were two commercial buildings located at 3939 and 3955-59 Woodward which have
been demolished. A new three-story, 23,772 sf commercial structure, designed to
complement the existing historic buildings, was constructed at the site. The first floor is
intended for retail space and the upper two floors for office space.

Financing for this phase closed late 2008 and construction was completed in 2009 with the
exception of tenant improvements.

Phase III – Garden Theater and Two-Story Commercial
The third component of the Woodward Garden Block Development involves rehabilitation and
new construction. A 32,505 sf historic theater will be renovated for a music venue. The theater located at 3919-33 Woodward, commonly known as the Garden Theater, consists of several storefronts and a theater. Previously used to show motion pictures, the two- and three-story building will be renovated into a live music venue. Commercial space will front Woodward on the ground floor and part of the second floor will be used for conference space, as well as a large suite for concerts. The third floor will house offices.

Two stories of commercial space, approximately 30,890 sf, will be constructed adjacent to the theater. Currently a one- and two-story building is located on the project site (3901-15
Woodward). This building will be demolished and ultimately replaced with a mixed-use
structure.

Phase IV – Zakoors Residential Project
Also located at 3901-15 Woodward, the fourth component of the Woodward Garden Block
Development involves the construction of forty-seven apartments above the two floors of
commercial space described in Phase III. The first two stories will house approximately 30,890 sf of commercial space and will be financed in Phase III. Floors three through six will contain forty-seven apartments and compose the fourth phase of the Woodward Garden Block Development.