February 2020

Dear Investors:

SCG is pleased to report the progress on The Heaven of Athens site for close of January 2020. As of January 31st, 2020, construction is going well, despite (still) rain in Georgia.

As of the end of January 2020, we are happy to report the following project progress:  

• Footings are completed for 49 out of the 69 units.
• Slab work is completed for 38 out of the 69 units.
• Framing is complete for 30 out of the 69 units (see the images below).
• The rough-in for the mechanical, electrical, and plumbing has been started for 15 out of the 69 units.
• Sanitary sewer installation is 95% complete for the site.
• Storm sewer installation is 85% complete for the site.
• The grading 70% complete for the site.
• Pool Construction has begun
• All electrical utilities have been relocated along Kentucky Cir of the road improvements which is a monumental milestone.
• The storm sewer has been transitioned to the permanent detention pond eliminating the temporary detention pond. This is another monumental milestone given the liability/risk associated with temporary detention facilities and the amount of rain this
  month.

Concerning leasing, all is proceeding well. Leasing has drastically increased for the month of January as expected. We are
currently 27% preleased. Also, our preleased units are leased at higher rates than we projected in the proforma.

Concerning our cost projections, we are on budget and remaining aligned with the original forecast:
• With 50% of costs already finally quoted, the budget for conservative purposes is kept at
$19.5 million as initially budgeted, but we were able to increase contingency item from
$870.760 as initially forecasted to $ 1.360.847
• Regarding construction, out of the $16.215.184, progress has been made by $4,015,033.

Check this page for monthly updates or fill out the “Contact Us” form below, and we will send you the numbers monthly.