25th & C · Golden Hill · San Diego
Confidential · Joint-Venture Review

Alum Members Club

The Residential and Club Operating Strategy
A rare residential building where hospitality is part of the operating model.
OperatorsCAST · Longplay · Nómade
ResidencesAll residents serviced by integrated hospitality and top-floor members club
CompletionJanuary 2027
Prepared forOwnership & JV partners
I.I · Mission

Make ALÜM a better-served, more memorable residential building.

The club converts the former penthouse into a shared hospitality platform that supports parking, concierge, resident service, and daily activation, while giving the property a clear point of difference in a more competitive Golden Hill market. Nómade brings the food. Longplay brings the music. CAST brings the service. ALÜM brings them together.

ALÜM at 25th & C — street-level frontal
I.II · The Mission

The best-served (boutique) building in San Diego.

The club is not an amenity placed on top of the residential project. It is building infrastructure: hospitality integrated into daily operations, a revenue-supported service platform, and amenity floors every resident can use.

Every resident benefits from the operating platform — added building use and amenities, valet parking and arrival service, and a unique, hospitality-integrated living experience — even though some Level 8 services and programming are reserved for paying club members.

The corner that needs an operator.
25th & C · Golden Hill
II.I · Building the Case

Two problems. One platform.

Parking needs an operator. The market needs a reason to choose ALÜM.
01 · Parking, attended

Dependable daily use

Dedicated valet and garage oversight make daily parking and arrival dependable.

02 · Service, shared

One coordinated team

A single team supports residents, members, and ground-floor hospitality.

03 · Market, changed

Finishes commoditized

New supply makes conventional finishes and amenity rooms less distinctive.

04 · Difference, built in

Service-led identity

ALÜM competes through service, food, music, and programming.

ALARA · ~ 213 residences (under construction, delivery Q1 2027)1  ·  The Lawson · ~ 180 planned residences (under construction; injunction denied Dec 2025, trial possible)3,5

II.II · The Competitive Moment

Nearly 400 residences. A rising baseline.

Competitors can replicate finishes and amenity rooms. They cannot easily replicate an operating culture.
~ 393New residences under construction nearby1,3
2027Delivery window for both projects1,4
28-story Complete Communities projects1,4
1Clear way to set the building apart — hospitality as the operating model

ALARA · ~ 213 residences · SW corner C St & 30th St · under construction, delivery Q1 2027  |  The Lawson · ~ 180 residences · 2935–2961 A St · under construction, delivery ~Nov 2027 (preliminary injunction denied Dec 2025; merits trial possible).

The corridor it sits on.
25th & C · Golden Hill
II.III · The Building Case

The building needs more than amenities.

It needs an operating solution — and a reason to be chosen.

ALÜM’s parking plan requires active management to deliver a dependable resident experience. Left unattended, it risks becoming a recurring source of friction and a direct operating burden. At the same time, nearly 400 new residences at ALARA and The Lawson are raising the amenity baseline in the Golden Hill and South Park market.1–3

The ALÜM Club addresses both: recurring hospitality revenue supports the team and systems that manage parking, arrival, and resident service, while the club gives the residential property a distinct, service-led identity.

Sources: ALARA (Ledcor) and The Lawson (CEDARst) — both under construction, delivering 2027. See Source Appendix in Evaluation mode.
III · Proposed Structure

The highest floor is not held by one resident.

It becomes the house’s shared room — a place for the building to gather, host, listen, eat, and be remembered.
Level 8 — the evening floor, after dark
L8 · The Crown Room
Signature club level · listening · chef’s counter · sunset service
Revenue becomes service.
Revenue becomes service.
One coordinated concierge & valet team
IV.I · The Operating Model

The club makes the building work.

Revenue becomes service. Service becomes a resident benefit.

Resident dues — $75/month per building resident — are the club’s only revenue. CAST Community signs a market-rent lease on the former penthouse and carries that cost; the resident dues offset the rent. CAST Community funds and operates the valet, concierge, and common-area service, with resident parking prioritized.

Source
Resident dues · $75/mo
Platform
Shared service team
Delivered
Managed parking · concierge · arrival
Effect
Resident experience · leasing edge
Outcome
Property performance
01 · Resident priority

The operating plan protects resident access before guest and event demand.

02 · Revenue-supported service

Club operations support the staffing required to manage parking and arrival.

03 · One coordinated team

Valet and concierge serve the residential building, club, and retail.

04 · Clear allocation

Parking income, labor, and shared expenses documented by agreement.

“Supports” is used deliberately. Full funding is asserted only where the financial model and executed agreements substantiate it.

IV.II · Why ALÜM Is Different

Hospitality as an operating model.

Conventional amenity packages are becoming the market baseline. ALÜM differentiates itself by making hospitality part of the property’s operating model.
01

Integrated hospitality

One service layer runs the building — club, concierge, valet, restaurants.

02

Revenue-supported service

Club operations support the staffing that manages parking and arrival — a platform, not a cost center.

03

Building-wide resident benefit

Level 7 and managed parking serve every resident, at no added cost.

04

Difference, built in

ALÜM competes through service, food, music, and programming — not finishes alone.

IV.III · Parking Operations

Resident-first, by design.

01Resident parking receives first priority
02Club guest parking is capped or reservation-controlled
03Event parking demand is separately planned
04Valet hours correspond to actual resident & club demand
05Garage access & retrieval responsibilities clearly assigned
06ADA and EV requirements are protected
07Overflow arrangements identified if required
08Insurance and liability are documented
09Labor and revenue allocations established by agreement
10Resident service standards are measurable
CAST’s Key Performance Indices (KPIs) we are tracking
Avg. resident retrieval timeTBC
Peak-period wait timeTBC
Resident parking complaintsTBC
Guest / event utilizationTBC
Parking labor cost / revenueTBC
Service coverage by hourTBC

Operating data not yet established. A deeper feasibility view is in Evaluation mode.

IV.IV · Operations

Who runs the room.

One General Manager, three creative leads, and a small core team. Concierge and valet serve the building, club, and retail as one coordinated team.
RoleFTEMandate
General Manager1.0Owns the room. Reports to the JV operating committee.
Chef de Cuisine1.0Nómade-affiliated. Owns the menu.
Beverage / Music Director1.0Longplay-affiliated. Bar and listening room.
Membership Director1.0Owns selection, onboarding, retention.
Concierge · Maint. tech / valet ×34.0Arrival, parking, common-area service — the shared platform.
FOH service · BOH kitchen11–16Counter, terrace, lounge, line, pastry, dish. Flex by night.

Club staffing budget ~ $31.8K/mo (~ $387K/yr), incl. valet, concierge, club service + NNN. GM / Chef / Beverage / Membership funded by the JV.

V · Property Benefit

What the building gets.

A working parking plan. A better resident experience. A clear market position.
ALÜM at 25th & C — the corner, end to end

Not an amenity on top — the operating platform.

The club is not a separate business placed on top of the residential project. It is the operating platform that supports parking, arrival, Level 7, concierge, and programming — while giving the property a distinction nearby buildings cannot reproduce through finishes alone.

01

Parking made workable

Active management turns a demanding configuration into a dependable service.

02

Residents better served

Arrival, parking, Level 7, and concierge operate as one experience.

03

A stronger leasing proposition

A reason to be chosen beyond unit finishes — supporting penthouse absorption at delivery.

04

A durable property identity

Hospitality and programming create a place, not another new apartment building.

VI · Operating Partners

Three hands, one room.

CAST
Community of Companies
Developer · Concierge · Community

CAST built ALÜM — and runs the service inside it. Concierge, valet, and amenity operations integrated with the building’s design, for residents and guests alike. Twenty years of mixed-use across San Diego.

The Community
Longplay
Music · Coffee · Bar

G. Huerta opened Longplay HiFi at 2547 Imperial Avenue in 2020 — the listening-bar that set the regional standard. Vinyl as practice, flash-chilled Chemex, natural wine.

The Music
Nómade
Food · Drink · Operations

Juan Carlos Gomez Jr. — thirty years at El Agave Tequileria — opened Nómade Tapas & Records on Adams Avenue in 2025. Spanish tapas, mid-century design, listening bar after dark.

The Table
VII.I · Golden Hill

Golden Hill.

San Diego’s first hilltop neighborhood — bordered by Balboa Park, walking distance to the bay. Like its name, it earns its title twice each day.
Aerial — Golden Hill, the project site and downtown San Diego
Downtown San Diego7 min · 1.3 mi Future Project Site2504 C Street · 92102
The corner that names us.
25th & C · Golden Hill · San Diego
1.5 mito downtown
0.4 mito Balboa Park
2.4 mito the Bay
380 ftelevation at 25th & C
VII.II · The Building

One vertical. Two streams.

Explore the massing: select a floor to see how Nómade’s kitchen and Longplay’s bar share a single elevator core — the same vertical that carries members up carries product up.
Residences
Hospitality / retail
Club floors
Mass-timber crown
Pool / terrace
Drag to orbit · scroll to zoom

25th & C, end-to-end

Concrete frame · mass-timber crown

Massing is a schematic study for orientation; not a construction document. The three-step crown — L7 day-floor setback, L8 penthouse, and the L2 terrace off the tower — reflects the deck’s axonometric.

VII.III · Arrival & Parking

The lobby holds the first hour.

Arrival is where the building is won or lost daily. ALÜM’s parking configuration is operationally sensitive: without active management it risks resident friction, a weaker arrival experience, and an operating cost with no dedicated supporting revenue.

The club’s operating revenue supports the staffing, systems, and accountability required to make the parking plan work reliably — valet, garage oversight, and resident-first protocols.

ALÜM lobby — walnut paneling, slate dado, coffered ceiling
VII.IV · Nómade — Level 1

The building’s culinary anchor.

Suite 101. Spanish tapas as the spine — all-day, with a listening bar after dark — the same hand that supplies dinners on Levels 7 and 8.
Juan Carlos Gomez Jr. · The Table of the House

Juan Carlos Gomez Jr. has spent nearly thirty years building rooms in San Diego where people gather, eat, drink, and stay longer than they planned.

At El Agave in Old Town, he helped create one of the city’s lasting restaurant institutions. With Nómade, he begins again with a more intimate idea: tapas, wine, records, coffee, and a room that changes with the hour. Spanish at the core, but always moving — a little Italy, a little France, a little Peru, a little Baja. The menu keeps traveling.

At ALÜM, that movement becomes part of the building. Nómade is the kitchen downstairs, the table upstairs, the terrace lunch, the chef’s-counter dinner, the private event, the late glass of wine, the record playing after dark.

The result is not a restaurant attached to a residential building. It is a building with a table of its own.

ALÜM concept — nomadeALÜM concept — nomadeALÜM concept — nomadeALÜM concept — nomadeALÜM concept — nomadeALÜM concept — nomadeALÜM concept — nomadeALÜM concept — nomade
VII.V · Longplay — Level 1

The soundtrack of the building.

Suite 102. The listening-bar standard — McIntosh hi-fi, natural wine, vinyl as practice — supplying the club’s beverage program.
Gibran “G” Huerta · Music, Coffee & Bar Program

Gibran Huerta, known as G, brings Longplay’s music, coffee, and bar culture into ALÜM.

At Longplay Hi-Fi in Barrio Logan, G built one of San Diego’s most personal hospitality rooms — shaped by vinyl, Japanese listening bars, Chicano design, Latin sobremesa, careful coffee, natural wine, and warm music. What began as a series of pop-ups became a permanent gathering place with a clear point of view: the music should invite conversation, the room should feel hosted, and the service should make people want to stay.

At ALÜM, G carries that sensibility through the building. Longplay anchors the sound, coffee, and beverage program from morning to night, giving ALÜM something more memorable than a conventional amenity space: a room with rhythm, ritual, and a voice of its own.

ALÜM concept — longplayALÜM concept — longplayALÜM concept — longplayALÜM concept — longplayALÜM concept — longplayALÜM concept — longplayALÜM concept — longplayALÜM concept — longplay
VII.VI · Inside the Club

Inside the club.

The Resident Terrace and the Crown Room as rendered — walnut, slate, brass, and timber, held by the light.
L7 Resident Terrace — pergola, plunge pool, olive trees, BBQ, bay view
The Resident Terrace.
L7 · open-air amenity · pool · BBQ · coffee · daily resident use
L7 — terrace, pergola, plunge poolL7 — amenity loungeL7 — dining loungeL7 — amenity lounge, wide
ALÜM club bar lounge with backlit bottle shelves
The bar.
Brass under-light · reeded glass · green velvet
ALÜM club evening listening room
The Crown Room.
L8 · signature club level · listening · dining · sunset service
A walk through the room.
Space study · silent loop
Club Space · Studies
ALÜM concept — clubALÜM concept — clubALÜM concept — clubALÜM concept — clubALÜM concept — clubALÜM concept — clubALÜM concept — club
Level 2 · Nómade Terrace
ALÜM concept — terraceALÜM concept — terraceALÜM concept — terraceALÜM concept — terraceALÜM concept — terrace
VII.VII · The Club, In Two Acts

The Resident Terrace for everyone. The Crown Room for members.

L7 Resident Terrace — amenity lounge, terrace light
L7 · The Resident Terrace
Open-air amenity · pool · BBQ · coffee · daily resident use · ~ 2,566 SF
L8 · The Crown Room — the room as built
L8 · The Crown Room
Signature club level · chef’s counter · hi-fi · 1,650 + 1,100 SF
VIII.I · Nómade — The Kitchen

The kitchen has a name.

Chef Oscar Torres leads the culinary program for Nómade and ALÜM — extending the kitchen beyond a single restaurant into the daily life of the building.
Nómade — the table, overhead: sea urchin, fish, bread, wine
The table of the house.
Nómade · the kitchen that runs the building
Chef Oscar Torres, Executive Chef — Nómade and ALÜM
Chef Oscar Torres
Executive Chef · Nómade and ALÜM

As Executive Chef, Torres shapes resident service, rooftop dining, chef’s-counter dinners, private events, and club programming — the food moments that make ALÜM feel hosted rather than simply occupied.

He runs the kitchen at Animalón in Valle de Guadalupe, the restaurant led by Javier Plascencia beneath a centuries-old oak in Baja wine country. Under Torres at the helm of daily operations, Animalón earned its second Michelin star at the Michelin Guide Mexico ceremony in June 2025 — placing it among the country’s most celebrated dining experiences.

Named Chef Promesa del Año 2023 by MexBest and one of Food & Wine México’s 10 Best New Chefs, Torres brings a rare combination of refinement, discipline, and warmth — food that is precise without feeling distant, rooted in seafood, fire, family, and Baja. The kind of hospitality that can give an entire building its own table.

Chef Oscar Torres — scallop, sauce poured tableside
Seafood, fire, Baja.

The hand behind Nómade and ALÜM — precise without feeling distant, rooted in seafood, fire, family, and the Baja coast.

Chef Torres — plated courseChef Torres — plated courseChef Torres — plated courseChef Torres — plated courseChef Torres — plated course
Sunset, side A. Dinner, side B.
Sunset, side A. Dinner, side B.
Programming across the week
VIII.II · The Week

A member’s week, charted.

DayModeThe room
MonQuietLounge open. Espresso bar. Closed dinner. A reading evening.
TueTableCounter dinner. Sixteen seats, two seatings. Chef’s hand.
WedVinylListening session. Curator-led. One side, then a pause.
ThuOpenMembers + two guests. The room as it usually is.
FriGold HourThe bar from 5. The sun does the work.
SatRoomFull house. Members only after 8.
SunPancakesRecords & breakfast. Kids welcome until noon.
VIII.III · The Reference Field

The room, in materials and mood.

Not what we are buying — what we are after.
M·01–02

Glulam & walnut

Honey-oak roof and columns; walnut panel and millwork, warm against the timber.

M·03–04

Slate & linen

Slate floor and dado as the earth tone; linen upholstery and plaster as the 60% ground.

M·05–06

Brass & plants

Aurum hardware and sconces; olive, fig, and fern by BLVD Nursery, San Diego.

Reference — golden lightReference — cocktail in late lightReference — reeded-glass back-barReference — brass rail, green velvet Mood referenceReference — piazza chair
The Reference Field · Collected
ALÜM concept — vibeALÜM concept — vibeALÜM concept — vibeALÜM concept — vibeALÜM concept — vibeALÜM concept — vibeALÜM concept — vibeALÜM concept — vibeALÜM concept — vibeALÜM concept — vibeALÜM concept — vibeALÜM concept — vibeALÜM concept — vibeALÜM concept — vibe
Who belongs.
Who belongs.
Members and their bona fide guests
IX · Membership & Access

Three ways to belong.

A 275-member cap, held intentionally below the room’s capacity. Every one of the building’s 113 residences — home to ~150 residents — is eligible for resident membership; the model carries 95 resident plus 180 non-resident. Members are nominated by other members; the committee meets quarterly.
TierAccessMonthlyAnnualSeats
ResidentLevel 7 included with every residence; club adds Level 8 + programming$75$900Every residence · 113 homes · ~150 residents
Non-ResidentFull house — both floors, guest privileges. The room’s default$175$2,100180 · monthly dues
Non-MemberNightly access by member introduction; trial visits$50–175/ nightby introduction

Resident dues are modeled at $75/mo ($900/yr). Some source slides cite a $75–100 range and initiation fees recognized over a 7-year tenure.

X.I · Capital

What it costs to make.

$350–400K
Total to open
SourceAmountUse
Project savings$250–300KBuildout
CAST Build Fee$100KFF&E · invested into the project
Total to open$350–400KFunded at delivery

The club buildout and FF&E are funded through project cost savings and the CAST Build fee, converting available project economics into a direct investment in the residential asset. The structure requires no new JV capital and no additional loan on the building. CAST Community leases the space at market rent, so the property receives contracted income while the club delivers incremental service, differentiation, and resident benefit.

X.II · Financial Plan

A single, conservative revenue line.

Club revenue is limited to resident dues — $75/month per building resident — set against the ~$7,000/month market-rent lease CAST Community signs on the former penthouse.
Resident dues vs. penthouse market rentLow · 75 residentsHigh · 95 residents
Resident dues — $75/mo each$5,625 / mo$7,125 / mo
Penthouse market rent$7,000 / mo$7,000 / mo
Covered by resident dues~80%~102%
CAST Community carries~$1,375 / mofully offset
Annual resident dues~$67.5K~$85.5K
~65 / moOutside users targeted by CAST Community — applied to offset valet-parking cost
$7,000 / moMarket-rent lease CAST Community signs on the former penthouse — resident dues offset it

At roughly 93 residents the dues fully offset the $7,000/month rent; across the 75–95 range residents cover ~80–100%+, with CAST Community carrying any balance. Separately, ~65 outside users per month offset valet-parking costs. No F&B, event, or non-resident-membership revenue is assumed.

XI.I · Risk & Controls

Property-level economics are protected.

CAST Community leases the former penthouse at market rent, giving the building contracted rental income that is not dependent on the club’s operating performance.

XI.II · Timeline

The club completes with the building.

Q2

JV signed · brand bible locked

Second quarter 2026.

Q3

TI permits in · buildout starts

Third quarter 2026.

Q4

Buildout complete · GM + Chef hired

Fourth quarter 2026.

Jan

Building + club complete · open with first residents

January–February 2027.

Q2

Steady state · waitlist opens

Second quarter 2027.

XII · Approval Request

A stronger building, with base economics protected.

We are requesting approval to advance the ALÜM Club structure.

The proposed structure preserves the building’s base rental economics through a market-rent lease from CAST Community, while converting the former penthouse into a shared resident and member experience that supports parking, concierge, arrival, food and beverage programming, music, and market differentiation.

Approval would remain subject to final documentation of the CAST Community lease, cost allocation, parking operations, resident priority rules, service standards, guaranty terms, insurance, and operating responsibilities. The full management decision list, claim audit, and source appendix are in Evaluation mode — toggle at the top right.

E.I · Executive Assessment

A candid assessment.

Does the club strengthen the residential project — and under what conditions?

On balance, yes — conditionally. The strategic logic is sound: an actively managed parking-and-arrival operation and a service-led identity are genuine, defensible advantages as nearby supply commoditizes finishes. The club is the most credible vehicle to staff and fund that operation. The plan strengthens the asset if the economic and operating links are made contractual rather than asserted.

Strength

Coherent thesis; real operators; vertical integration lowers logistics cost; low stated capital to open.

Condition

Service-funding and parking responsibilities must be documented — club lease, shared-expense schedule, parking allocation, CAST guaranty.

Watch

Confirm the market rent on the former penthouse and CAST Community’s capacity to carry the balance above resident dues.

E.II · Strategic Logic & Resident Value

Where the logic holds — and who benefits.

Input
Club revenue (diversified)
Enables
Staffed service platform
Produces
Managed parking + arrival
Drives
Leasing + retention edge
Every ALÜM resident (building-wide)
  • Managed parking & arrival; valet — subject to final operating plan
  • Concierge & common-area service
  • L7 · The Resident Terrace — lounge, pool, terrace
  • Resident programming where applicable
  • Stronger identity; leasing & retention proposition
Club members only (paid)
  • L8 · The Crown Room; member dining & chef’s counter
  • Listening-room access
  • Private events & guest privileges
  • Curated programming; members-only F&B

Residents are not required to buy membership to receive parking or basic building-service benefits. Level 7 is included; Level 8 and programming are the opt-in. Causation: revenue supports — it does not automatically “solve” — parking.

E.III · Competitive Position

ALÜM vs. ALARA vs. The Lawson.

CategoryALÜMALARA (Ledcor)1The Lawson (CEDARst)3,4
Residences113213180 (dev.) / 186 (court)
StatusU/C · open Jan 2027U/C · delivery Q1 2027U/C · ~Nov 2027
LitigationNone knownNone foundInjunction denied Dec ’25; trial possible
ParkingManaged / valet (plan)Unknown149 stalls
Rooftop / terraceL7 + L8 terracesUnknownRooftop deck
Fitness / wellnessVia programmingUnknown2-story gym; sauna, cold plunge, hot tub
Food & beverageNómade + LongplayUnknownNone noted
Concierge / valetYes — staffedUnknownUnknown
Active hospitality operatorYesNoNo
Membership programmingYesNoNo
Building-wide service platformYesUnknownUnknown

“Unknown” where primary sources do not itemize. Combined ~ 393 residences — “nearly 400” substantiated; both under construction, neither delivered. See Source Appendix below.

E.IV · Feasibility & Financial Coherence

What must be proven.

Parking staffing

Valet + concierge budgeted (~ $125K + $84K/yr). Whether coverage matches peak resident demand is unverified — hours not modeled.

Parking revenue link

Valet income is bundled into “events / valet / init.” Parking revenue and labor are not separately stated — the supporting-economics claim cannot yet be tested.

Controls documented

Resident-first priority, guest caps, ADA/EV, overflow, insurance, allocation — all to be documented.

Financial itemSource figureRead
Club revenue~$67.5K–$85.5K / yrResidents only: 75–95 × $75/mo. No F&B, guest, or event revenue assumed.
Penthouse leaseMarket rent (signed)CAST Community signs the lease on the former penthouse; resident dues offset it, CAST carries the balance.
Building exposureNoneThe property receives signed market-rent lease income regardless of club performance.
Initiation feesIn P&L; not in tiersAdd to the membership tier table.
Capital to open$350–400K from savings + GC fee“Cost savings” ≠ cash; confirm funding mechanism.
E.V · Governance & Claim Audit

Documents required; claims classified.

Required documents
  • Club lease or license; shared-expense schedule
  • Parking cost & revenue allocation; resident-priority rules
  • CAST Community guaranty or support agreement
  • Operator responsibilities & SLAs; insurance & indemnification
  • F&B service agreements; brand & programming responsibilities
  • Capital / buildout funding source
Claim audit
  • Nearly 400 residences nearby (393) — Verified
  • The Lawson amenities / 149 stalls — Verified
  • Revenue supports parking & concierge — Supported
  • 275-member cap, ramp to cap by Y2 — Objective
  • “Penthouse leases day one” — Overstated → “supports absorption at delivery”
  • Building receives signed market-rent lease income — Verified by lease
  • CAST signs the penthouse lease; dues offset the rent — Supported
E.VI · Consistency Audit

Items to finalize before opening.

IssueResolution
Resident dues $75 vs. $75–100Model uses $75 / $900.
~3% churn vs. KPI ≤12% blended3% steady-state attrition; 12% Y1 blended ceiling — label distinctly.
“Member NPS ≥ 4.5”NPS is −100…+100; this is a 5-point CSAT. Relabel.
Revenue basisResidents-only dues (75–95 × $75/mo); no F&B / guest / event revenue assumed.
Penthouse treatmentLeased by CAST Community at market rent; resident dues offset the rent.
Initiation-fee revenue not in tiersAdd to tier table.
Parking revenue / labor not separatedBuild a standalone parking P&L.
Cost savings vs. cash for buildoutConfirm funding mechanism & availability.
113 residences (deck v13 stated 95)Building programs 113 residences; the model still carries 95 resident members — reconcile resident cap & dues. Confirm completion vs. construction schedule.
E.VII · Priority Actions & Decision

Before ownership approval.

1

Execute the club lease/license and shared-expense schedule.

2

Document parking cost & revenue allocation and resident-priority rules.

3

Put the CAST Community guaranty / support agreement in place.

4

Build a standalone parking P&L with hours-of-coverage modeling.

5

Reconcile Y1 revenue to a single (ramped) basis for underwriting.

6

Separate club opex from property opex; retire “$0 overhead.”

7

Add initiation fees to the membership tier table.

8

Confirm dues ($75 vs. $75–100); relabel the NPS/CSAT metric.

9

Confirm buildout funding mechanism and cash availability.

10

Re-verify competitor counts, delivery, and Lawson litigation at LOI.

Approve
  • The club as the building’s operating platform
  • Buildout from cost savings + CAST GC fee ($350–400K)
  • CAST as integrated service operator
Conditional
  • Cost-allocation & parking economics
  • CAST guaranty terms; valet operating plan & coverage
Documented before opening · measured by
  • Club lease, shared-expense schedule, parking allocation, insurance
  • Resident retrieval & complaints; resident participation; CAST lease executed
E.VIII · Evidence & Sources

External market sources.

1 · Ledcor Development — ALARA
Business Wire (Ledcor Development LP), Apr 1, 2025. Supports: 213 units, SW corner C & 30th, $107M, Complete Communities, delivery Q1 2027.
businesswire.com/news/home/20250401682953
2 · ConstructionOwners.com — ALARA
Apr 2, 2025. Corroborates: ALARA under construction, two-year build.
constructionowners.com — ALARA
3 · CEDARst — The Lawson (portfolio)
cedarst.com, accessed Jun 22, 2026. Supports: 180 residences, 2935–2961 A St, gym/sauna/cold plunge/hot tub, rooftop deck, 149 stalls, 51% affordable.
cedarst.com/portfolio/the-lawson
4 · CEDARst — Groundbreaking release
Oct 3, 2025. Supports: $89M QOZ, groundbreaking, partners, Complete Communities.
cedarst.com/news — The Lawson
5 · OB Rag — Lawson litigation
Dec 15, 2025. Supports: TRO Oct 2025; preliminary injunction denied Dec 2025 (construction resumed); 186-unit court figure; trial pending.
obrag.org — injunction ruling
Internal sources
All financials, membership, staffing, floor areas, programming, and timeline: ALUM_Members_Club_Business_Plan_v13.pptx (CAST) — management estimates and model outputs, not external facts.

External facts, internal management estimates, financial-model outputs, and positioning recommendations are kept distinct. Re-verify competitor data at LOI.