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VDG Victory on Leonard Project Update: June 2023

We are currently in month 20 of our Victory on Leonard 120-unit apartment construction schedule.

• The black metal panel installation is pretty much complete around the exterior of the building

• We've begun laying brick around the building exterior

• We have an elevator! Installation will be complete in the next two weeks

• Gypcrete has been poured on floors A 3&4. Gypcrete is a slurry of concrete and gypsum that allows for fire rating and sound dampening

• Case work and trim has begun. Cabinets will be installed starting Monday

• The model unit will be available for showing starting July 5

• We are still within our original budget. However it does look like we'll be using our entire contingency allowance due to the delays with the city and inspections

• We're on schedule to deliver the units on floors A 3 & 4 by September 1, with residents moving in on September 15

• We have some interest on the retail space, but no signed LOI's yet. Brad did talk with a bakery that could be a good fit for our space

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