Dominion Boulevard Corridor Study (Final)

Townhouse/Duplex 2012 Multiplex (2000-2011), ODU(2012-2013) 2010 % New Home Sales by Product Type Hampton Roads Area; 2000-2013 Multistory Detached Source: Residential DataBank 2008 New Sales New and Resale Homes in Hampton Roads p 80% 70% 60% 50% 40% 30% 20% 10% 0% 2006 not the lower pre- and and the home likely Resales did during the the 000 of $180,000. are single-family price, and of $400,000 $400 bottoming new point to and 2004 sales market prices, height The which dropped 2013, for is average home lower the At averaged averaged at resales in slightly market (2000-2011), ODU (2012-2013) Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40 by new the prices prices $220,000. 2012, and up the in 2002 reflected the as of result 2003-2006. home home averaged through picked sold as a from new new 2011 $300,000 have product market, significantly as likely prices years, years prices in occurred to prices rise. to the of product. Hampton Roads Area; 2000-2013 2000 Source: Rose and Womble resale as downturn, in home dropped home continue majority Average Sale Price $0 The suffer run-up recession recession resale market prices New to The detached $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 , $ $50,000 46

is month to market six compared the post 13 $501k+ of of top that supply The double of 7 $401k-$500k $500,000. are months under listings the twice 6 $351k-$400k homes active almost Hampton Roads For-Sale Residential Price Bands for as is Months of Supply supply well-balanced, there homes. 6 $301k-$350k of and months less sales lower-priced 6 $251k-$300k Past 6 Months This which and six 5 $201k-$250k Sales - $250,000. inventory, activity approximately below months little is 6 $151k-$200k Active Listings priced six relatively There Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40 are than is $500,000. market less with There and Months of Supply, Active Listings, and Post Six Month Sales 7 $101k-$150k the stable. in recovered, $300,000 resales considered Hampton Roads Area; August 2013 5 5 <$100k p of fairly between 0 Source: Rose and Womble bulk is be inventory 2,500 2,500 2,000 1,500 1,000 500 The market would Units 47

up since make $300,000 declined has 2013 than market More than $500,000 less the Chesapeake For-Sale Residential New Home Sales Trends homes of where top the 2012 market, and market $400,000-$500,000 for-sale the overall of bulk the the 2009. 2011 $300,000-$400,000 market total of half for true the share 2013, is of In opposite end large 2013. $200,000-$300,000 higher in seen The 2010 the increasingly gains $300,000. (2000-2011), ODU (2012-2013) Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40 market, an above home composed significant priced Less than $200,000 new has most the were New Home Sales by Year and Price Range ; 2009 Chesapeake and sales, homes Source: Rose and Womble p above) with Chesapeake City; VA; 2009-2013 y; the ($300K home new all p 5,000 4,500 4,000 3,500 3,000 2,500 2,000 1,500 1,000 500 500 0 In of 48

to the appears on are area—there prices the study and New and Resale the area, in Chesapeake For-Sale Residential Development Trends homes study new the of near Map of Home Sales by Price Range – development demand Chesapeake, VA; 2009-2013 p the ample higher-end. for be housing the and well end Hall, bodes higher City This trend. The Chesapeake this New Homes strong. mirror Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40 are Greenbrier, sales city the to home throughout close New Map of Home Sales by Price Range – p located area. Chesapeake, VA; 2009-2013 Source: City of Chesapeake sales be to Bridge Home tends Great 49

community, will which the in community master-planned area study selling UNITS 40 63 112 63 278 83 86 51 81 81 200 98 599 740 740 one the best Actively Selling Residential Communities in Chesapeake is outside the There is COMMUNITY NAME p immediately It Deep Creek Commons The Grove at Arboretum The Meadows at KempBridge Landing builders. units. GreenTree Commons Monarch Walk Jordan Hall Stony Run Manor Edinburgh Edinburgh Albemarle River Chapel Hill Estates Master-Planned Community Culpepper Landing Culpepper Study Area regional Landing, residential Attached Product Detached Product and 740 MAP MAP KEY A1 A2 A3 A4 Total D1 D2 D3 D4 D4 D5 D6 Total M1 M1 local Culpepper contain region. by the built detached outside being Boulevard. dominated dominated is is D2 D3 D5 D6 communities currently are single-family Battlefield market market sale A3 A2 D1 D4 residential homes while areas, along for-sale for the the Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40 selling Cavalier in smaller, smaller, Source: Individual Project Websites; Broker Interviews; CREED g attached Greenbrier and and actively Single-family and are are Actively Selling Residential Communities A1 M1 several A4 y Greenbrier concentrated projects projects Chesapeake, VA; February 2014 are area. the are the the of of There study around homes Most Most 50

had Base little 4,000 Landing region. relatively Culpepper the in is there Hall. selling and builders. and Culpepper Heritage Series Jordan best foot, 3,500 Jordan Hall Chapel Hill Estates at the it communities 54 square to making per Manor 2013, different Run in $160 Stony closings average between 3,000 at For-Sale Single-Family Detached Homes units 104 prices variation Culpepper Legacy Series from square overall eight Stony Run Manor Albemarle River range 3,000 the with from 2,500 Chesapeake to 2,000 consistent range II-15) y of New Single-Family Detached Units in sizes Exhibit Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40 homes and $500,000, (see 2,000 The Meadows at KempBridge Harbor View Neighborhoods detached $400,000 over rates Culpepper The Grove Source: Individual Project Websites; Broker Interviews; CREED g to offerings Edinburgh single-family $300,000 of few are absorption Annual Price-to-Size Relationship – Chesapeake, VA; March 2014 new prices There 000 1,500 Most base feet. market. $750,000 $750 $650,000 $550,000 $450,000 $350,000 $250,000 51

is View market 3,000 Harbor product at 2,800 offered attached product the in option 2,600 Monarch Walk condominium affordable 2,400 The most price-conscious. and largest 2,200 The Grove at Arboretum Culpepper Landing today. For-Sale Single-Family Attached Homes the 2,000 to of are 1,400 foot buyers 1,800 and square most New Single-Family Attached and Condominium Units GreenTree Commons Harbour View The Gables $300,000 per 1,600 y to price market, $150,000 base overall 1,400 Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40 from average the to Source: Individual Project Websites; Broker Interviews; CREED g Harbour View Linkside Cove range an for Similar 1,200 Deep Creek Commons homes feet, $127. Price-to-Size Relationship – Chesapeake, VA; March 2014 attached square approximately 1,000 New 2,200 $350,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 52

For-Rent Residential 53 Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40

VAC. 4% 6% 3% 3% 4% 3% 4% 3% ASKING RENT $1,058 $1,026 $978 $969 $958 $889 $827 $785 2 Map of Norfolk/Hampton Roads Region 1 UNITS 16,271 9,867 12,146 2,790 7,793 15,854 19,374 6,966 6 5 3 BUILD- INGS 80 49 70 19 43 114 103 45 7 SUBMARKET Kempsville/ Bayside Lynnhaven/ Oceana Hampton/York Williamsburg Chesapeake Norfolk Newport News Portsmouth/ Suffolk 8 g 4 MAP KEY 1 2 3 4 5 6 7 8 Source: Reis historically submarket capturing in units 418 two two least least record a around at vacancies Kempsville grow. 40% 40% 30% 20% 10% 0% -10% -20% 2018 -30% -40% have the 2013, annually, absorbed at at in in levels levels reached capture healthy as high to room PROJECTED 2016 % Capture of Region region to units highest highest also future to experiencing as rents has 2014 Roads 2000 From 133 of net submarket the the absorption points is command and areas 2012 Hampton absorption. a absorbed Chesapeake marking marking rental trend term region, not expensive 2010 Chesapeake Absorption Overall Rental Market the net and The both both regional long the of does more CAPTURE: 9% 2008 Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40 and and units region. 2012, 2012 in in of capture the though much submarket the near Chesapeake and Norfolk/Hampton Roads Region; 2000-2013 2006 submarket deliveries 150 delivered the in units units 523 523 submarket’s 2012, in like Chesapeake, the Though located is Apartment Submarket Absorption Capture 2000-2013 AVG. 2004 Metro Absorption Chesapeake balanced average, absorption rental delivered delivered and and The 30% over 15%. rates. rental it Lynnhaven, 2002 2000 The experienced on has, of 9% 2011 2011 decades. of high to 10% and and 2,000 000 2 1,500 1,000 000 1 500 0 0 -500 Source: Reis 54

region, A class the for 2012 the 6% 2006. of Historically, as in that high Chesapeake 2010 mirrored 2013. to as for 2008 Region generally 2000 rising only 6.5% Chesapeake and Norfolk/Hampton Roads Region; 2000-2013 2006 has from trend 4%, and 2008 2004 Chesapeake submarket upward around in region 2002 the slight oscillates Roads Class A Vacancy Rates in a 2000 Source: Reis Vacancy showing vacancy Hampton 7% 6% 5% 4% 3% 2% 1% 0% the more rents was was Class A For-Rent Market Trends of subsequent that slightly A Class properties properties 2013 2012 exceeded suffered average in recovered A A 2000 2010 market submarket with Class Class at at Region; 2008 Region rental The recession, quickly rent rent Roads 2006 Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40 Class-A 2000s. the was ground asking asking average average Chesapeake and Norfolk/Hampton Roads Region; 2000-2013 Norfolk/Hampton 2004 Chesapeake Chesapeake early the during Lost $966. the the $1,000. and 2002 the in region region to 2012, 2012, Class A Asking Rents 2000 in the In In approximately Chesapeake Source: Reis Rents overall than dropping years. years. $1,200 $1,100 $1,000 $900 $800 $700 $600 55

1 4 9 2 3 10 7 5 5 6 8 Chesapeake, VA; February 2014 For-Rent Residential Communities in Chesapeake p Map of Select Apartment Community Comparables constructed units 1,000 at Aura average is is Boulevard Boulevard for market buying to renters. OCC OCC EFF % 94% 67% 95% 96% 88% 88% 100% 97% 93% 98% 92% 95%* 95% newly to close property, an at foot Dominion Dominion target prior lifestyle AVG. EFF. AVG RENT $1.17 $1.30 $1.34 $1.10 $1.25 25 $1 $1.27 $1.25 $1.10 $1.07 $1.06 23 $1.23 $1 i l several region, top-of-market square near near The couples and market, UNITS 288 280 215 176 164 164 190 192 348 374 240 2,467 467 2 tl has per stock stock young and the i h Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40 market Greenbrier the The 2013. $1.34 apartment apartment well-amenitized. to YEAR YEAR BUILT 2013 2013 2012 2012 2010 2010 2011 2009 2006 2005 2002 *Excludes Streets of Greenbrier, which is currently pre-leasing. hi i Source: RCLCO: Property Websites; Leasing agent interviews apartment In and 2012 achieving The The and professionals re-locating people COMMUNITY NAME The Carlton at Greenbrier b G f Chesapeake communities. in delivered is Place, 95%. 95%. of of well-occupied, young is home, first Fenwyck Manor Streets of Greenbrier Aura at Towne Place Morgan The Morgan The Tapestry Park Bell Great Bridge Belmont at Greenbrier Hideaway at Greenbrier Adalay Bay Total/Average Total/Average Study Area t St d The apartment were Towne occupancy occupancy new, apartments their MAP MAP KEY 1 2 3 4 5 5 6 7 8 9 10 l *E 56

square rental 1,000 per respectively). and foot one-bedroom absolute square 950 a per Streets of Greenbrier 1B/1Ba on lowest-priced Bell Great Bridge 1B/1Ba/G units $1.53 and the 900 The Morgan 1B/1Ba Adalay Bay 1B/1Ba one-bedroom $1.61 of offers for average Greenbrier 850 rents (an at highest basis Hideaway 800 the foot units. The Carlton at Greenbriar 1B/1Ba Bell Great Bridge 1B/1Ba Hideaway at Greenbriar 1B/1Ba Streets of Greenbrier Studio Studio and One-Bedroom Rental Units slightly feet. The command 750 from square layout. cost 900 studio Bridge 700 units to 650 a Great Studio and One-Bedroom Units one-bedroom from range offers one Bell and 650 Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40 of and only Place Aura at Towne Place 1B/1Ba Belmont at Greenbriar 1B/1Ba Streets of Greenbrier 1B/1Ba/L bulk month Towne Newer Apartments in Chesapeake, VA; February 2014 Tapestry Park 1B/1Ba Fenwyck Manor 1B/1Ba Source: Individual Project Websites; Leasing Agent interviews the per properties, at 600 market, $1,200 Aura A to selected of Price-to-Size Relationship – Class $900 550 the the communities $1,400 $1,300 $1,200 $1,100 100 $1,000 $900 $800 $700 In over Of $1 57

evidenced 1,700 as 1,600 strong, is 1,500 market Three-Bedroom Units The Carlton at Greenbriar 3B/2Ba rental occupancy. 1,400 Aura at Towne Place 3B/2Ba Tapestry Park 3B/2Ba Bell Great Bridge 3B/2Ba Belmont at Greenbriar 3B/2Ba Hideaway at Greenbriar 3B/2Ba Fenwyck Manor 3B/3.5ba/G Streets of Greenbrier 3B/2Ba A Newer Apartments in Chesapeake, VA; February 2014 The Morgan 3B/2Ba Adalay Bay 3B/2Ba Class strong The and 1,300 renters. concessions Price-to-Size Relationship – for 600 1,200 choices few by $2,200 $2,000 $1,800 $1,600 $1 $1,400 $1,200 $1,000 Two-and Three-Bedroom Rental Units 1,400 2B/2Ba offer per to popular generally $1,500 to $1,400 at most the 1,300 The Carlton at Greenbriar 2B/2Ba The Morgan 2B/2Ba/D Bell Great Bridge 2B/2Ba Hideaway at Greenbriar 2B/2Ba Greenbriar at Fenwyck Manor 2B/2Ba Fenwyck Manor 2B/2.5Ba/TH Streets of Greenbrier 2B/2Ba communities $1,100 at space 1,400 to 1,250 are units 1,200 Hideaway apartment of feet from range two-bedroom Two-Bedroom Units 1,100 Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40 newer square units and Newer Apartments in Chesapeake, VA; February 2014 2B/2Ba Source: Individual Project Websites; Leasing Agent interviews in 1,250 One- 1,000 Greenbriar Fenwyck Manor 2B/2.5Ba/TH/G Streets of Greenbrier 2B/2Ba/L units and Three-bedroom month. Price-to-Size Relationship – Aura at Towne Place 2B/2Ba The Morgan 2B/2Ba Tapestry Park 2B/2Ba Belmont at Greenbriar 2B/2Ba at Adalay Bay 2B/2Ba Fenwyck Manor 2B/2Ba/G Two-bedroom 1,000 between month. per $1,700 $1,500 $1,300 $1,100 $900 900 Belmont 58

the “stress cost the th with of real and satisfy with with and and ding icpatterns, tt deductibility for (active will planned. updated, economy be should revenue regardi failure. accordance economi financing offerings as updated be be revised). the ios cause in d rates, planned completed should should of appropriate. economics in scenari not will occur growth. hi tax mortgage as supply possibly monitoring as fluctuations lternative ti conditions will following household demographicand levels. construction. income and buyers. buyers developed of stream are and analysis analysis (and close analysis investment potential alt the and d d and and forth). capital and and be occur this this accordingly the this and from f market that trendsand d confidence property so and of owners owners will reasonable projects change, change recommend updating and project that ensure lting resulti estate real assume employment, t f forecastsof t consumer development (i.e., interest, cost and developers, developers projects a that demand. works above above the the reviewed we the to tions and we expectations: Economic, f of cost laws mortgage Availability Competitive and estate public of of any any conclusions such, marketplace, Further, assumpti economy addition, Other Oth including The Tax estate estate future) real Major As tested” In current • • • • • • • Should Should the available report. this the of on d We client. these the of uncertainty the monitor d ti changing a at grow and stable extended are markets to difficult average that realizing said said below below economic the consider the Similarly, market is it Also, and consumer information of date reliable. and performance ttemarket,and kt the of that drawing in nature the to critical theaforementioned f th of reflective will markets However, over estate very is it end. term long projected, or or future of not does occur. estate real boom. or the the of complete, future estat l or us to dynamic as well is iit are sustainable real Further, will the above above impact and may the on shock changing of as real control available and it torevisit t they estate beyond. not and upturn that as be either either that a predict Critical Assumptions analysis client correct, the about d and our fluid as future, d that real and y cyclical, cycles. estate assume will be be potential economy, impact such to Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40 p our the is economy either information the markets, near-term l ensure and 2020 historically is business real changes will will the local \"booms” residual of difficult on from l given ktscontinuouslyand ti to are and we consider major the environment based and information assumptions local l outside the estate the to economy rate patterns economy to economic mind, price performance performance and/or reflect is it are sources the that certain d l similarly and However, real particularly market periodically the that moderate p the sensitive an in and time time not does national from not competitive that note conclusions own our assume made lbal,national,and ti factors trends and d and conditions. assume and growth g time, of highly when above the rates the the of of rates. analysis the on benefits does the to psychology. Our from We We l glob other analyzed conclusions. economy surrounding economy conclusions market We stable moderate periods typically predict With absorption most most average Our shocks potential analysis and important market 59

for or prepared RCLCO. is it from which obtained for that been than first other has purpose consent any written for prior used be which contained to believed other and effort, and and client client in other any is report date the its of or estimates, a at not are or income a that or achieved may be may RCLCO be will publication or Co.\" consent study this of consent or public be may without not may data are research the the inaccuracies in or This of as update expectations opinions of occur, , results analysis variations by made study this of & written of any it where client study General Limiting Conditions the and assumptions, with with for study. current any or level financial is in right Lesser prior written with the This that independent representatives this information, particular will Actual the the it Charles the summarization prior conjunction purpose than ensure information estimates, consultations consultations assumed was undertaken reasonable estimates, a events prospective and representation contained with obtaining or the similar other RCLCO. Dominion Boulevard | City of Chesapeake | April 11, 2014 | E4-11982.40 to its from and and is and presenting knowledge not financial of that accepted. report, results carry \"Robert in person of g made timely on responsibility or has view information, particular p or our our or or not of first excerpting, obtaining used be other any consent been and based RCLCO industry, industry, agent, its preparing our to date. date. prospective our assurances that offered by in warranty values does name without first to or by written have accurate is study by the the of of No client, in that RCLCO such such contain represent such or , achieved, be covered described no projected study the manner abstracting, without not is securities degree prior efforts reflect This developed knowledge knowledge representatives. the by used information and report, since since effort effort may that but time, predictions be will price period those Therefore, the this of use to any in No made report This of offering any to the Reasonable study this in reliable. be information general general its reporting source data on based this of research research report Our opinions particular as offered will profit p particular the during from vary material. of any that achieved. Possession or thereof \"RCLCO\" RCLCO. of be may RCLCO. private upon relied obtaining first 60

Appendix: Supporting Exhibits

LIST OF EXHIBITS News, VA-NC Metropolitan Statistical Area and Annual Employment Growth; Virginia Beach-Norfolk-Newport News, VA-NC Metropolitan Statistical Area; Historical and Projected Employment Growth, Excluding Military; Virginia Beach-Norfolk-Newport News, by Sector; Virginia Beach-Norfolk-Newport News, VA-NC Metropolitan Statistical Area; Growth; Virginia Beach-Norfolk-Newport News, VA-NC Metropolitan Statistical Area; Household and Econo Chesapeake City; February 2014 Map of Geographies; Virginia Beach-Norfolk-Newport VA-NC Metropolitan Statistical Area; 1990-2035 Household Growth by Block Group; Norfolk, Chesapeake, and Portsmouth; Virginia; 2000-2010 Household Growth by Block Group; Suffolk, Chesapeake, and Portsmouth; Virginia; 2000-2010 News, VA-NC Metropolitan Statistical Area; 2000-2018 Ratio; Virginia Beach-Norfolk-Newport Jobs to Household Total Population M SOCIOECONOMICS 1990-2040 Job Growth 2001-2040 Household 1990-2040 Total Area; 2001-2040 CITY OF CHESAPEAKE I. Exhibit I-1 Exhibit I-2A Exhibit I-2B Exhibit I-3 Exhibit I-4 Exhibit I-5 Exhibit I-6 Exhibit I-7 Exhibit I-8 Exhibit I-9 Exhibit I-10 Exhibit I-11

Metropolitan Beach-Norfolk-Newport News, VA-NC Virginia Beach-Norfolk-Newport News, VA-NC Virginia Beach-Norfolk-Newport News, VA-NC Metropolitan Statistical Area; Virginia Beach-Norfolk-Newport News, VA-NC Metropolitan Statistical Area; Page ii E4-11982.40 March 27, 2014 Statistical Area; 1990-2013 Single-Family and Multifamily Permits; Virginia Chesapeake City Permits as a % of Virginia Beach-Norfolk-Newport News MSA Permits; Chesapeake City and Virginia Beach-Norfolk-Newport News, VA-NC Metropolitan Statistical Area; 1990-2013 Single-Family and Multifamily Building Permits; Metropolitan Statistical Area; 1990-2020 Average Household Size; Virginia Beach-Norfolk-Newport News, VA-NC Metropolitan Statistical Area; CITY OF CHESAPEAKE Exhibit I-12 Exhibit I-13 Exhibit I-14 Exhibit I-15 Exhibit I-16 Exhibit I-17 Exhibit I-18 Exhibit I-19 Exhibit I-20 Exhibit I-21 SINGLE-FAMILY II. Exhibit II-1 Exhibit II-2 Exhibit II-3 Exhibit II-4

Units; Chesapeake, VA; Rental Apartment Submarket Maps; Chesapeake and Norfolk-Hampton Roads Region; February 2014 Page iii E4-11982.40 March 27, 2014 Months of Supply, Active Listings, and Past Six Months of Sales; Hampton Roads Area; August 2013 % New Home Sales by Product Type; Hampton Roads Area; 2000-2013 Percent New Home Sales by Year; Hampton Roads Area; 2000-2013 Average Sales Price; Hampton Roads MSA; 2000-2013 March 2014 III. MULTIFAMILY RESIDENTIAL CITY OF CHESAPEAKE Map of Home Sales; Chesapeake City, VA; 2009-2013 Map of Home Sales by Price Range – New and Resale; Chesapeake City, VA; 2009-2013 Map of New Home Sales by Price Range; Chesapeake City, VA; 2009-2013 Home Sales by Year and Price Range; Chesapeake City, VA; 2009-2013 Home Sales by Year and Price Range; Chesapeake City, VA; 2009-2013 Location of Actively Selling Residential Communities; Chesapeake, VA; February 2014 Actively Sell Exhibit II-5 Exhibit II-6 Exhibit II-7 Exhibit II-8 Exhibit II-9 Exhibit II-10 Exhibit II-11 Exhibit II-12 Exhibit II-13 Exhibit II-14 Exhibit II-15 Exhibit II-16 Exhibit II-17 Exhibit II-18 Exhibit II-19 Exhibit III-1 Exhibit III-2

Submarket Capture of Norfolk-Hampton Roads Apartment Absorption; Chesapeake and Chesapeake, VA; Metropolitan Page iv E4-11982.40 March 27, 2014 Class A Vacancy Rates; Chesapeake and Norfolk-Hampton Roads Region; 2000-2013 Newer Apartments in Price-to-Size Relationship – Two-Bedroom Units; Newer Apartments in Chesapeake, VA; February 2014 Units; Newer Apartments in Chesapeake, VA; Beach-Norfolk-Newport News, VA-NC Class A Asking Rents; Chesapeake and Norfolk-Hampton Roads Region; 2000-2013 Apartment Absorption vs. Completions; Norfolk-Hampton Roads Region; 2000-2018 Apartment Absorption vs. Completions; Chesapeake Submarket; 2000-2018 Chesapeake Norfolk/Hampton Roads Region; 2000-2018 Select Apartment Community Comparables; Chesapeake, VA; February 2014 Select Apartment Community Comparables; Chesapeake, VA; February 2014 Price-to-Size Relationship; New Apartments in Chesapeake, VA; February 2014 Price-to-Size Relationship – Studio and One-Bedroom Units; February 2014 Price-to-Size Relationship – Three-Bedroom February 2014 Planned and Proposed Rental Apartmen CITY OF CHESAPEAKE Exhibit III-3 Exhibit III-4 Exhibit III-5 Exhibit III-6 Exhibit III-7 Exhibit III-8 Exhibit III-9 Exhibit III-10 Exhibit III-11 Exhibit III-12 Exhibit III-13 Exhibit III-14 IV. RETAIL Exhibit IV-1 Exhibit IV-2 Exhibit IV-3 Exhibit IV-4

Page v E4-11982.40 March 27, 2014 Retail Asking Rent and Vacancy; Deep Creek Submarket and MSA; 2005-2013 SF of Current Retail Mix by Type; South Side of Hamptons Roads; March 2014 Retail Vacancy SF and Rate by Type; South side of Hampton Roads; 2012 Select Retail Comparables; Chesapeake, VA; February 2014 OFFICE AND INDUSTRIAL Area; 2011 CITY OF CHESAPEAKE Select Retail Comparables; Suffolk, Chesapeake, and Portsmouth; Virginia; February 2014 Map of Grocery Stores; Close to Study Area in Chesapeake, VA; February 2014 Map of Target, Wal-Mart and K-Mart; Close to Study Area in Chesapeake, VA; February 2014 Planned and Proposed Retail; Norfolk/Chesapeake Submarket; February 2014 Map for Current Retail Under and Oversupply; 10-Mile Ring around Study Area; March 2014 Current Retail Unde Exhibit IV-5 Exhibit IV-6 Exhibit IV-7 Exhibit IV-8 Exhibit IV-9 Exhibit IV-10 Exhibit IV-11 Exhibit IV-12 Exhibit IV-13 Exhibit IV-14 V. Exhibit V-1 Exhibit V-2 Exhibit V-3 Exhibit V-4 Exhibit V-5 Exhibit V-6 Exhibit V-7

Page vi E4-11982.40 March 27, 2014 Office and Industrial Buildings; Chesapeake Region; 1980-1990 Office and Industrial Buildings; Chesapeake Region; 1990-2000 Office and Industrial Buildings; Chesapeake Region; 2000-2014 Office and Industrial Buildings; Chesapeake Region; 1970-1980 CITY OF CHESAPEAKE Office and Industrial Buildings; Chesapeake Region; 2014 Number of Employment Cores and Total MSA Employment; Virginia Beach MSA – Not Including Military Employment or Cores; 2013, 2024, and 2035 Map of Core Areas; Hampton Roads, VA; 2014 Core Types; Hampton Roads, VA; 2014 Office Submarket Map; Southern Chesapeake Submarket, VA; March 2014 Office Absorption vs. Completions; Virginia Beach-Norfolk-Newport News, VA-NC MSA; 2006-2 Exhibit V-8 Exhibit V-9 Exhibit V-10 Exhibit V-11 Exhibit V-12 Exhibit V-13 Exhibit V-14 Exhibit V-15 Exhibit V-16 Exhibit V-17 Exhibit V-18 Exhibit V-19 Exhibit V-20 Exhibit V-21 Exhibit V-22 Exhibit V-23 Exhibit V-24 Exhibit V-25 Exhibit V-26

Page vii E4-11982.40 March 27, 2014 Industrial Asking Rent and Vacancy; Deep Creek Submarket; 2006-2013 VI. RECOMMENDATIONS Strengths, Challenges, and Opportunities; Dominion Study Area; March 2014 Summary of Demands; Dominion Study Area; 2014-2035 Job to Housing Ratios; Dominion Study Area; March 2014 Employment Matrix; Chesapeake, VA; March 2014 Residential Matrix by Household Driver; Chesapeake, VA; February 2014 For-Sale Residential Demand; Dominion Study Area; 2014-2035 For-Rent Residential Demand; Dominion Study Area; 2014-2035 Re CITY OF CHESAPEAKE Exhibit V-27 Exhibit VI-1 Exhibit VI-2 Exhibit VI-3 Exhibit VI-4 Exhibit VI-5 Exhibit VI-6 Exhibit VI-7 Exhibit VI-8 Exhibit VI-9 Exhibit VI-10

I. SOCIOECONOMICS CITY OF CHESAPEAKE

Exhibit I-1 E4-11982.40 Printed: 3/27/2014 Beach MSA Chesapeake City Virginia MAP OF GEOGRAPHIES VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA AND CHESAPEAKE CITY FEBRUARY 2014 Exhibit I-1 CITY OF CHESAPEAKE SOURCE: Esri

# # Exhibit I-2A E4-11982.40 CAGR 1.41% 2.15% 1.02% -0.67% 1.28% 0.59% 0.18% 0.29% CAGR 3.89% 4.47% 0.50% -1.15% 1.49% 0.85% 0.14% 0.29% 0.53% Printed: 3/27/2014 TOTAL NON- MILITARY EMPLOYMENT 606,667 650,633 723,600 761,367 736,300 784,774 808,232 822,619 846,748 AVG. ANNUAL GROWTH 11,693 1,270 7,193 1,439 2,413 TOTAL OFFICE EMPLOYMENT 100,967 122,171 152,026 155,880 147,156 158,425 165,305 166,489 168,891 178,053 AVG. ANNUAL GROWTH 5,106 -487 1,815 359 916 YEAR 1990 1995 2000 2005 2010 2015 2020 2030 2040 1990-2000 2000-2010 2010-2020 2020-2030 2030-2040 YEAR 1990 1995 2000 2005 2010 2015 2020 2025 2030 2040 1990-2000 2000-2010 2010-2020 2020-2030 2030-2040 ANNUAL EMPLOYMENT GROWTH VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA 1990-2040 Military Employment Growth Exhibit I-2A CITY OF CHESAPEAKE PROJECTED Total Employment Growth Excluding Military Office Employment Growth * This data does not include military or government employment 20,000 15,000 10,000 5,000 0 -5,000 -10,000 -15,000 -20,000 -25,000 SOURCE: Moody's Economy.com

Exhibit I-2B E4-11982.40 Printed: 3/27/2014 Hampton Roads TPO Forecast* Exhibit I-2B HISTORICAL AND PROJECTED EMPLOYMENT GROWTH, EXCLUDING MILITARY VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA 1990-2035 PROJECTED Moody's Economy.com CITY OF CHESAPEAKE Moody's Economy.com *2013 Hampton Roads TPO employment was scaled to match 2013 MSA employment SOURCE: Moody's Economy.com; Hampton Roads TPO; RCLCO 900,000 850,000 800,000 750,000 700,000 650,000 600,000 550,000 500,000

Exhibit I-3 E4-11982.40 Government Printed: 3/27/2014 Other Services Leisure and Hospitality Education and Health Services Professional and Business Services 2031-2040 JOB GROWTH BY SECTOR VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA 2001-2040 Financial Activities 2021-2030 Exhibit I-3 Information 2011-2020 CITY OF CHESAPEAKE Trade, Transportation & Utilities 2001-2010 Manufacturing Construction Natl. Resources and Mining Military SOURCE: Moody's Economy.com 25,000 20,000 15,000 10,000 5,000 0 -5,000 -10,000 -15,000 -20,000

Exhibit I-4 E4-11982.40 Printed: 3/27/2014 MAP KEY > 0 1 - 100 101 - 200 201 - 500 501 - 1,000 >1,000 Exhibit I-4 HOUSEHOLD GROWTH BY BLOCK GROUP NORFOLK, CHESAPEAKE, AND PORTSMOUTH; VIRGINIA 2000-2010 CITY OF CHESAPEAKE SOURCE: U.S. Census

Exhibit I-5 E4-11982.40 Printed: 3/27/2014 MAP KEY > 0% 0.1% - 1.0% 1.1% - 2.0% 2.1% - 5.0% > 5.0% Exhibit I-5 HOUSEHOLD GROWTH RATE BY BLOCK GROUP SUFFOLK, CHESAPEAKE, AND PORTSMOUTH; VIRGINIA 2000-2010 CITY OF CHESAPEAKE SOURCE: U.S. Census

Exhibit I-6 E4-11982.40 # # CAGR 2.25% 2.69% 1.51% 0.93% 1.06% 0.54% 0.82% 0.98% 0.66% 0.49% 0.47% 0.32% Printed: 3/27/2014 TOTAL HOUSEHOLDS 404,209 451,883 515,905 555,921 582,153 613,699 630,405 656,543 689,241 712,159 729,643 747,042 759,073 AVG. ANNUAL GROWTH 11,170 6,625 4,825 5,884 4,040 2,943 2 943 YEAR 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 2030 2035 2040 1980-1990 1990-2000 2000-2010 2010-2020 2020-2030 2030-2040 2040 2030 2040 2039 2038 2037 2036 2035 2034 HOUSEHOLD GROWTH VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA 1990-2040 2033 2032 2031 2030 2029 2028 2027 2026 2025 2024 2023 2022 Exhibit I-6 2021 2020 2019 2018 PROJECTED Annual Household Growth 2017 2016 2015 2014 CITY OF CHESAPEAKE 2013 2011 2012 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 SOURCE: Moody's Economy.com 1998 1997 1996 1995 1994 1993 1992 1991 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 1990

Exhibit I-7 E4-11982.40 Printed: 3/27/2014 0.45% 2013-2018 0.65% 0.27% 0.77% 2013-2018 1.03% 1.03% 0.63% 0.80% 2013-2018 3.08% 2.98% 2.72% 1.83% 2013-2018 2.94% 4.39% 3.59% 1.72% Annual Growth Rate 2000-2013 0.85% 0.59% 0.46% 0.13% Annual Growth Rate 2000-2013 1.19% 0.78% 0.75% 0.12% Annual Growth Rate 2000-2013 1.62% Annual Growth Rate 2000-2013 4.34% 1,016 2013-2018 11,295 4,509 21 2013-2018 858 6,781 4,094 7 2013-2018 $2,242 $1,640 $1,617 $2,017 2013-2018 $7,999 $9,448 $8,809 $6,195 Avg. Annual Growth 1,771 9,749 7,443 3 Avg. Annual Growth 896 4,730 4,546 1 Avg. Annual Growth $751 Avg. Annual Growth $6,433 Exhibit I-7 HOUSEHOLD AND ECONOMIC GROWTH SUMMARIES CHESAPEAKE CITY AND VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA 2000-2018 2000-2013 2000-2013 2000-2013 2000-2013 227,289 1,764,351 1,699,366 2,762 85,838 677,549 661,123 898 $79,697 $60,104 $64,428 $116,548 $296,356 $244,244 $272,331 $379,502 2018 2018 2018 2018 CITY OF CHESAPEAKE 222,209 1,707,874 1,676,822 2,658 81,548 643,643 640,653 863 $68,489 $51,902 $56,342 $106,462 $256,360 $197,003 $228,287 $348,526 2013 2013 2013 2013 199,184 1,581,131 1,580,057 2,615 69,900 582,153 581,560 850 $42,135 $113,373 2000 2000 2000 2000 SOURCE: Esri; Moody's Economy.com Population Chesapeake MSA Moodys MSA Esri Study Area Households Chesapeake MSA Moodys MSA Esri Study Area Median Income Chesapeake MSA Moodys MSA Esri Study Area Median Home Value Chesapeake MSA Moodys MSA Esri Study Area

Exhibit I-8 E4-11982.40 Printed: 3/27/2014 Exhibit I-8 TOTAL JOBS TO HOUSEHOLD RATIO VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA 2001-2040 PROJECTED CITY OF CHESAPEAKE SOURCE: Moody's Economy.com 1.5 1.45 1.4 1.35 1.3 1.25 1.2 1.15 1.1 1.05

Exhibit I-9 E4-11982.40 Printed: 3/27/2014 % OF DOMESTIC IN-MIGRATION 66.0% 3.7% 2.8% 1.3% 1.3% 1.3% % OF DOMESTIC IN-MIGRATION 25.8% 14.6% 11.1% 4.3% 1.6% 1.5% 59% 100% TOP STATES OF ORIGIN DOMESTIC IN-MIGRANTS 5,519 307 238 112 110 107 8,366 DOMESTIC IN-MIGRANTS 2,159 1,218 932 362 130 129 4,930 8,366 AREA Virginia North Carolina Florida Maryland California New York TOTAL TOP AREAS OF ORIGIN STATE VA VA VA VA VA VA $19,700 $20,000 $27,000 TOTAL POPULATION MIGRATION* CHESAPEAKE CITY, VIRGINIA 2009-2010 COUNTY Virginia Beach City Portsmouth City Newport News City TOTAL DOMESTIC IN-MIGRATION MIGRATION INCOME DATA (2010) Inbound Income per cap. Outbound Income per cap. Non-migrant Income per cap. Exhibit I-9 % OF TOTAL Norfolk City Suffolk City % OF TOTAL Hampton City SUB-TOTAL CITY OF CHESAPEAKE DOMESTIC IN-MIGRANTS IN-MIGRATION 66% 5,519 34% 2,847 100% 8,366 DOMESTIC IN-MIGRATION IN-MIGRANTS 63% 4,887 37% 2,887 100% 7,774 * The IRS measures migration by adding up the number of exemptions and returns that change address each year IN-MIGRATION DISTRIBUTION Same State In-Migration Different State In-Migration TOTAL DOMESTIC IN-MIGRATION OUT-MIGRATION DISTRIBUTION Same State Out-Migration Different State Out-Migration TOTAL DOMESTIC IN-MIGRATION Blue = more in-migrants Red = more out-migrants SOURCE: Internal Revenue Service, forbes.com

Exhibit I-10 E4-11982.40 Printed: 3/27/2014 Outbound Migration Inbound Migration Outbound Migration Inbound Migration NORFOLK $16,900 $17,600 $22,000 PORTSMOUTH $19,500 $20,200 $20,200 cap. $29,000 HISTORICAL NET MIGRATION VIRGINIA BEACH, NORFOLK, SUFFOLK, AND PORTSMOUTH 2010 Inbound Income per cap. Outbound Income per cap. Non-migrant Income per cap. Inbound Income per cap. Outbound Income per cap. per Income Outbound Non-migrant Income per cap. Exhibit I-10 Outbound Migration Inbound Migration Outbound Migration Inbound Migration CITY OF CHESAPEAKE VIRGINIA BEACH $19,500 $20,200 $29,000 SUFFOLK $20,100 $20,600 $20,600 $26,000 Inbound Income per cap. Outbound Income per cap. Non-migrant Income per cap. Inbound Income per cap. cap. Outbound Income per cap. per Income Outbound Non-migrant Income per cap. number of returns SOURCE: Internal Revenue Service, forbes.com

Exhibit I-11 E4-11982.40 100% 80% 60% 40% 20% 0% -20% Printed: 3/27/2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 % MF CHESAPEAKE, VIRGINIA SINGLE-FAMILY AND MULTIFAMILY PERMITS 1990-2013 2003 2002 MF Permits Exhibit I-11 2001 1999 2000 SF Permits 1998 CITY OF CHESAPEAKE 1997 1996 1995 1994 1993 1992 1991 SOURCE: HUD State of the Cities 1990 3,000 2,500 2,000 1,500 1,000 500 0

Exhibit I-12 E4-11982.40 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Printed: 3/27/2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 % MF 2003 Exhibit I-12 SINGLE-FAMILY AND MULTIFAMILY PERMITS VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA 1990-2013 2002 2001 MF Permits 2000 1999 SF Permits 1998 CITY OF CHESAPEAKE 1997 1996 1995 1994 1993 1992 1991 1990 SOURCE: HUD State of the Cities 12,000 10,000 8,000 6,000 4,000 2,000 0

Exhibit I-13 E4-11982.40 70% 60% 50% 40% 30% 20% 10% 0% -10% Printed: 3/27/2014 2013 2012 2011 2010 2009 % of MSA MF Permits 2008 2007 2006 2005 2004 % of MSA SF Permits 2003 Exhibit I-13 CHESAPEAKE CITY PERMITS AS A % OF VIRGINIA BEACH-NORFOLK-NEWPORT NEWS MSA PERMITS CHESAPEAKE CITY AND VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA 1990-2013 2002 2001 2000 MSA Total Permits 1999 1998 CITY OF CHESAPEAKE 1997 1996 1995 Chesapeake City Total Permits 1994 1993 1992 1991 1990 SOURCE: HUD State of the Cities 12,000 10,000 8,000 6,000 4,000 2,000 0

Exhibit I-14 % 31% 17% 17% 25% 32% 16% 8% 8% 7% E4-11982.40 Printed: 3/27/2014 MULTI- FAMILY 4,213 1,461 1,333 2,656 1,721 1,150 701 501 392 % 69% 83% 83% 75% 68% 84% 92% 92% 93% SINGLE- FAMILY 9,388 7,366 6,706 7,938 3,703 5,934 7,784 5,875 5,465 AVG. ANNUAL PERMITS 13,601 8,827 8,040 10,594 5,424 7,084 8,485 6,376 5,858 YEAR 1986-1990 1991-1995 1996-2000 2001-2005 2006-2010 2011-2015 2016-2020 2021-2025 2026-2030 50% 45% 40% 35% 30% 25% 20% 15% 15% 10% 5% 0% Exhibit I-14 SINGLE-FAMILY AND MULTIFAMILY BUILDING PERMITS VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA 1990-2020 PROJECTED % Multifamily CITY OF CHESAPEAKE Multifamily Single-Family SOURCE: Moody's Analytics 14,000 12,000 10,000 8,000 6,000 4,000 4000 2,000 0

Exhibit I-15 E4-11982.40 Printed: 3/27/2014 PROJECTED AVERAGE HOUSEHOLD SIZE VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA 1990-2040 Exhibit I-15 CITY OF CHESAPEAKE SOURCE: Moody's Analytics 2.85 2.80 2.75 2.70 2.65 2.60 260 2.55 2.50 2.45

Exhibit I-16 E4-11982.40 CAGR 7.94% 3.40% 4.46% 1.40% 14.35% -1.76% 1.32% 3.90% 3.23% 2.88% 2.94% 3.54% 4.84% Printed: 3/27/2014 MEDIAN PRICE $49,094 $71,946 $85,020 $105,742 $113,373 $221,679 $202,886 $216,659 $262,383 $307,620 $354,511 $409,732 $487,565 YEAR 1980 1985 1990 1995 2000 2005 2010 2015 2020 2025 2030 2035 2040 1980-2010 PROJECTED Exhibit I-16 MEDIAN EXISTING SINGLE-FAMILY HOME PRICE VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA 1990-2020 Median Existing Single-Family Home Price (NAR) CITY OF CHESAPEAKE SOURCE: Moody's Analytics $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0

Exhibit I-17 E4-11982.40 Printed: 3/27/2014 Median Home Value by Census Tracts $300,001 or greater $300,000 $250,001 - $250,000 $200,001 - $200,000 $150,001 - $150,000 or less 2013 Exhibit I-17 MEDIAN HOME VALUE BY CENSUS TRACT SUFFOLK, CHESAPEAKE, AND PORTSMOUTH; VIRGINIA 2013 CITY OF CHESAPEAKE * Data is from Esri 2010 estimates SOURCE: ESRI

Exhibit I-18 E4-11982.40 Printed: 3/27/2014 Median Income by Census Tracts $75,001 or greater $60,001 - $75,000 $45,001 - $60,000 $30,001 - $45,000 $30,000 or less 2010 Exhibit I-18 MEDIAN HOUSEHOLD INCOME BY CENSUS TRACT SUFFOLK, CHESAPEAKE, AND PORTSMOUTH; VIRGINIA 2013 CITY OF CHESAPEAKE * Data is from Esri 2010 estimates SOURCE: ESRI

Exhibit I-19 E4-11982.40 % 7.0% 6.3% 9.1% 13.0% 18.3% 15.4% 20.1% 6.9% 4.0% 100% Printed: 3/27/2014 TOTAL 19.7% 65 Plus 5,709 5,136 7,382 10,564 14,905 12,558 16,385 5,636 3,273 81,548 100% 19.7% 55-64 # 12.4% 11.4% 13.4% 16.4% 16.2% 11.7% 12.5% 3.6% 2.4% 100% % 65 Plus 23.4% 45-54 1,989 1,828 2,152 2,634 2,611 1,882 2,016 582 383 16,077 20% DISTRIBUTION BY AGE OF HOUSEHOLDER 35,00%Age of Householder # 6.9% 4.5% 7.7% 11.3% 16.5% 15.4% 22.5% 9.2% 5.9% % 100% 18.3% 35-44 55-64 15.7% 25-34 1,099 729 1,241 1,814 2,649 2,475 3,600 1,470 952 16,029 20% # 3.3% 15-24 3.9% 3.4% 5.2% 9.7% 17.5% 16.9% 28.0% 9.7% 5.8% 100% % 45-54 Exhibit I-19 AGE OF HOUSEHOLDER BY INCOME CHESAPEAKE CITY 2013 # % 744 4.1% 641 4.4% 985 6.8% 1,847 11.3% 3,343 20.5% 3,218 18.4% 5,344 22.5% 1,858 8.0% 1,110 4.0% 19,090 100% 23% 4.0% Over $200,000 612 664 597 # 35-44 1,016 1,687 3,065 2,740 3,355 1,189 14,925 18% 6.9% $150,000 - $199,999 20.1% $100,000 - $149,999 CITY OF CHESAPEAKE 6.8% 7.3% 12.2% 16.1% 21.4% 15.3% 15.1% 4.1% 1.8% % 100% 25-34 15.4% $75,000 - $99,999 866 930 1,557 2,061 2,726 1,952 1,926 520 225 12,763 16% HOUSEHOLD INCOME DISTRIBUTION 18.3% $50,000 - $74,999 Income Ranges # 15.0% 12.9% 16.2% 19.6% 19.2% 10.9% 5.4% 0.6% 0.2% 13.0% $35,000 - $49,999 % 100% 15-24 399 344 431 521 511 291 144 17 6 91% 9.1% $25,000 - $34,999 # 2,664 3% RANGE $15,000 $24,999 $34,999 $49,999 $74,999 $99,999 $149,999 $199,999 6.3% $15,000 - $24,999 INCOME Less Than - $15,000 - $25,000 - $35,000 - $50,000 - $75,000 - $100,000 - $150,000 Over $200,000 TOTAL Percent of Total 7.0% Less Than $15,000 SOURCE: ESRI

Exhibit I-20 E1-11982.40 % 6.7% 5.1% 6.2% 12.3% 16.1% 15.4% 22.0% 11.2% 5.1% 100% Printed: 3/27/2014 TOTAL 22.2% 65 Plus 5,736 4,384 5,295 10,527 13,799 13,230 18,891 9,593 4,383 85,838 100% 20.9% 55-64 # 12.0% 9.1% 9.7% 16.1% 15.1% 12.7% 15.1% 6.7% 3.4% 100% % 65 Plus 20.0% 45-54 2,296 1,737 1,847 3,073 2,877 2,417 2,890 1,281 658 19,076 22% DISTRIBUTION BY AGE OF HOUSEHOLDER 35,00%Age of Householder # 5.8% 3.3% 4.7% 10.1% 13.9% 15.0% 24.6% 14.9% 7.5% % 100% 17.6% 35-44 55-64 16.3% 25-34 1,045 594 845 1,812 2,497 2,694 4,409 2,670 1,344 17,910 21% # 2.9% 15-24 3.5% 2.7% 3.2% 8.6% 14.7% 15.9% 29.3% 15.1% 7.1% 100% % 45-54 Exhibit I-20 AGE OF HOUSEHOLDER BY INCOME CHESAPEAKE CITY 2018 # % 596 3.6% 460 3.5% 551 4.4% 1,473 10.5% 2,523 17.9% 2,740 18.3% 5,051 24.3% 2,595 12.4% 1,221 5.0% 17,210 100% 20% 5.1% Over $200,000 546 533 662 761 # 35-44 1,585 2,713 2,762 3,681 1,883 15,126 18% 11.2% $150,000 - $199,999 22.0% $100,000 - $149,999 CITY OF CHESAPEAKE 6.3% 5.4% 7.8% 14.7% 19.3% 16.5% 19.2% 8.1% 2.8% % 100% 25-34 15.4% $75,000 - $99,999 879 757 1,091 2,065 2,711 2,317 2,688 1,132 391 14,031 16% HOUSEHOLD INCOME DISTRIBUTION 16.1% $50,000 - $74,999 Income Ranges # 15.1% 12.2% 12.0% 20.9% 19.2% 12.1% 6.9% 1.3% 0.3% 12.3% $35,000 - $49,999 % 100% 15-24 374 303 299 519 478 300 172 32 8 6.2% $25,000 - $34,999 # 2,485 3% RANGE $15,000 $24,999 $34,999 $49,999 $74,999 $99,999 $149,999 $199,999 5.1% $15,000 - $24,999 INCOME Less Than - $15,000 - $25,000 - $35,000 - $50,000 - $75,000 - $100,000 - $150,000 Over $200,000 TOTAL Percent of Total 6.7% Less Than $15,000 SOURCE: ESRI

Exhibit I-21 E4-11982.40 Printed: 3/27/2014 % TOTAL # 4,290 100% 2,999 % 70% 65 Plus # 2,999 70% % 44% 1,881 55-64 1,881 -44% 44% # CHANGE IN AGE OF HOUSEHOLDER CHESAPEAKE CITY 2013-2018 45-54 # -1,880 -44% HOUSEHOLD GROWTH BY AGE 2013-2018 -1,880 % Exhibit I-21 35-44 % 5% CITY OF CHESAPEAKE % # 201 30% 5% 201 25-34 1,268 30% # 1,268 % -4% 15-24 -179 # -4% -179 RANGE INCOME TOTAL Percent of Total SOURCE: ESRI

II. SINGLE-FAMILY RESIDENTIAL CITY OF CHESAPEAKE

Exhibit II-1 E4-11982.40 Printed: 3/27/2014 Total 19% 7% 22% 10% 10% 67% Total 15% 7% 8% 2% 2% 33% More than $150,000 3% 1% 3% 1% 1% 9% More than $150,000 0% 0% 0% 0% 0% 1% $100,000- $150,000 5% 1% 6% 2% 1% 15% $100,000- $150,000 1% 0% 1% 0% 0% 2% TENURE BY AGE AND BY INCOME VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA 1 2007-2011 ESTIMATE $75,000- $100,000 4% 2% 5% 2% 1% 13% $75,000- $100,000 2% 1% 1% 0% 0% 4% Exhibit II-1 Income $50,000- $75,000 4% 2% 5% 2% 2% 15% $50,000- $75,000 3% 2% 2% 0% 0% 7% $35,000- $35,000- CITY OF CHESAPEAKE $50,000 2% 1% 2% 1% 2% 7% $50,000 3% 2% 1% 0% 0% 6% 1 Estimated by Pumas 2000, 2100, 2200, 2801, 2802, 2803, 2900, 3000, and 3100 % of Total Households Less than $35,000 2% 1% 2% 1% 3% 8% Less than $35,000 7% 2% 3% 1% 1% 14% SOURCE: American Community Survey, 5% Sample, 2007-2011 Own Under 25 25 - 34 35 - 54 Age 55 -64 65+ Total Rent Under 25 25 - 34 35 - 54 Age 55 -64 65+ Total

Exhibit II-2 E4-11982.40 Printed: 3/27/2014 Single-family Detached Single-family Attached BUILDING TYPE BY TENURE VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA 1 2007-2011 ESTIMATE Building Type Own Exhibit II-2 Multifamily Rent CITY OF CHESAPEAKE Mobile Home 1 Estimated by Pumas 2000, 2100, 2200, 2801, 2802, 2803, 2900, 3000, and 3100 SOURCE: American Community Survey, 5% Sample, 2007-2011 1,200,000 1,000,000 800,000 600,000 Number of Units 400,000 200,000 0

Exhibit II-3 E4-11982.40 Printed: 3/27/2014 Single-family Detached Single-family Attached 65+ 55 -64 Exhibit II-3 BUILDING TYPE BY AGE VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC METROPOLITAN STATISTICAL AREA 1 2007-2011 ESTIMATE Multifamily Building Type 54 35 - 34 25 - Under 25 CITY OF CHESAPEAKE Mobile Home 1 Estimated by Pumas 2000, 2100, 2200, 2801, 2802, 2803, 2900, 3000, and 3100 SOURCE: American Community Survey, 5% Sample, 2007-2011 1,200,000 1,000,000 800,000 600,000 Number of Units 400,000 200,000 0