MULTI-FAMILY RESIDENTIAL DEVELOPMENT SITE The subject property is a multi-family residential development site of ±0.86 acres that is located at 1424 Patricia Ave. in the city of Simi Valley. Currently entitled for a 28-unit senior apartment project, this site could also be re-entitled for a market rate multi-family project although the unit count for a market rate project would end up slightly less. The current senior project received a Planned Development Permit (PD-S-1046) from the city of Simi Valley in October of 2017. At this time, the project is currently in a 3-year Administrative Time Extension for Permit PD-S-1046 that was granted in 2020. The current development plans call for 20 1br apartments and 8 2br apartments - 3 of the units will be set aside for low-income tenants. The project also incorporates approximately 1,224 SF of common area including an exercise room, a recreation room, an office and a laundry room. There are 31 covered parking spaces and 5 uncovered parking spaces. In regard to processing the building plans, approvals have been received on Hydrology/Watershed, Landscaping, Civil Drawings & Public Works, Soil Reports and Electrical. Still in process are Plumbing, Mechanical, Structural, Architectural and Fire. Although this site has been designed for active senior living, it may also be suitable for re-entitlement into a market rate multi-family project.