CITY OF PHILADELPHIA CITY COUNCIL REAVATUA JOHNSON ROOM S80, CTY HALL Pied, Pk 8107 (aisjessairzerss Fx 215) 695-1002 Eat heats sonra go ‘ADpIsTRICTCOUNGLMAN September 8, 2015 Matt Kourie, Chief Exceutive Officer CBRE Global Investors 515 8. Flower Street, 31% Floor Los Angeles, CA 90071 Kevin Sheehan, Senior Managing Director, Northeast Greystar Real Estate Partners 8405 Greensboro Drive, Suite 950, McLean, VA 22102 18 Broad Street, Suite 300 Charleston, SC 29401 Dear Sirs, It has come to our attention that 2116 Chestnut Street was recently purchased by CBRE. Global Investments and is now being managed by Greystar. We weloome CBRE Global Investments entrance into the growing Center City Philadelphia residential market and are taking note of Greystar’s continued expansion. The Philadelphia City Couneit continues to work aggressively to create conditions that allow development to thrive in Center City and throughout Philadelphia, We were troubled to hear about Greystar’s damaging decision to displace the 13 workers who secured and maintained 2116 Chestnut Street, After several years in service to the residents of 2116, these workers were terminated without an interview or explanation. Your decision to behave in this manner is counter to common labor relation practices in cur region. This behavior is unacceptable to us. In Philadelphia we value our workers and we value employers who provide family sustaining wages. ‘We are also troubled by the dangerous precedent your actions threaten to set. In Philadelphia, there is a long history of cooperation between building owners, building service contractors and ‘workers that has moved thousands of Philadelphia service workers into the middle class. In this spirit of cooperation, when a building is sold, the building service workers are able to remain employed in their current positions under the same conditions while their performance is assessed. We believe the current practice is fair and takes into account how abrupt job losses affect Philadelphia families and communities. Your decision has thrown 13 Philadelphia families into turmoil.We are asking you to reconsider your decision to displace these workers and offer them an opportunity to come back to work. 2116 Chestnut Street is a building that benefits from the 10 year tax abatement and received a generous subsidy from Pennsylvania tax payers. Elected officials have done their part to ensure that this building was developed. We are asking you to do your part for workers in our city. Sincerely, Marid\ Quifiones-Sénchez Couneljyoman — 7" District Cindy Bass Councilwoman fe District es O’Brien X Councilman-At-Large /— Comneioman-A-Large William K. Greenlee Councilman-Atfarge Councilman-At-Large