ARCFE GROUP 3 PROJECT PROGRESS

As of Nov 2019, the project has been completed and has applied for TCO.  Once approved, the pre-sold units will be closed.  The retail space on the first floor is now advertised for lease.

• Compared to last visit, 3rd steel floor has been poured with concrete, 4th floor steel columns and most beams have already erected pending deck installation, most 5th floor  steel columns also erected, and stairs are up to 3rd floor.
• In parking garage, they are installing parking shells in two sections of total six sections.  Also steel workers are installing two car elevators now. They are picking up speed in moving the project forward right now.
• The project is expected to make good progress in spite of winter months ahead.

As per site visit on 10/11/2017 afternoon, there was project manager from Mandarin Enterprise and the owner on job site. A summary of work is as below:

• Compared to last visit, 2^nd floor is poured with concrete and CMU works also in progress.
• Parking installation is up.
• GC has ordered elevator and paid deposit.

Per GC, they are finishing up reaching a settlement with neighbor for scaffold.

Per site visit on 6/21/2017, summary of work is as below. The 1st floor, mezzanine floor have been poured with concrete and 2nd floor decking except north of property is pending to pour concrete. Big parking components are stored on site and more equipment and materials will deliver next few months.

Per site visit on 4/5/2017 morning, about 15 construction workers on job site.

• entire cellar floor has been poured with concrete and over 60% of 1st floor area plus the ramp has been poured with concrete.

• a mid-size concrete truck came and would pour concrete to rear section of 1st floor.

• elevator room is erected on 1st floor. A new stair is in place from 1st floor to bottom floor.

• at the same time, they are still waiting for auto parking equipment to be delivered and hopefully these equipment will arrive this month.

Overall, recently frequent rain has delayed them from finishing up 1^st floor. As weather is changing, they will pick up pace soon.

Per site visit on 10/14/2016 afternoon, foundation and footing are complete.  Right now, they are finishing up the below grade slab at the bottom.  The project manager told us they target to finish by end of October. At the time of visit, there were about a dozen of workers and all excavation work is complete.  Once foundation is complete, they will start superstructure right after.  They told us they scheduled to have first parking garage delivery late November. Overall, the work is moving slowly but steadily.

For the current AIA application payment, a significant portion is related to payment for excavation, foundation works, and general condition.

As site visit on June 7^th 2016, about 80% of 1st half of sub-cellar level 1 (3rd underground level) is complete.  They are looking to dig down final 8 feet down to complete the foundation.  David said they target to complete it in two months.  when foundation is completed and automate parking garage will be installed on site. At the time of visit, David Lo was talking to newly used excavator operator and he said the new guy will handle further excavation.  there was a big excavator machine on site.  Overall, the work has resumed moving steadily.