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Project Status Memo 5 <br />Todd Stutz (Tradition): The master plan calls for roughly 1,400 housing units that will be a <br />mix of different forms that appeal to different demographics. Roughly 330 will be single family <br />or townhomes. The rest will be multifamily. <br />For the for-sale homes, we have solicited other builders to be part of our builder group that have <br />experience in the far east suburban market of the cities. So not only will (buyers) have a diversity <br />of housing types but also a wide variety of (builders). <br />Regarding the range of homes, what might the prices be on the low end and high end? <br />Stutz: It will ultimately translate to a mix of prices (and lot sizes) that appeal to a broad <br />demographic. We don’t have pricing established at this point but we know there will be some <br />upper-end custom homes and some more affordable townhomes. <br />There is a significant segment of today’s home buyers that would be classified as nontraditional, <br />(millennials, empty nesters, retirees), so we would expect to offer products. <br />How do you appeal to those nontraditional families? <br />Stutz: Certainly homes that are on one level for empty nesters and retirees. Generally <br />(millennials) are interested in smaller lots. They don’t want to spend their free time mowing their <br />yard. So they are interested in perhaps smaller homes but they expect top-end finishes. <br />We’ll be doing some market research to try and explore what preferences are in this area and <br />make sure we have a match. <br />What about apartments, what can we expect there? <br />Lux: We will definitely have a senior component, definitely a component leaning toward <br />Millennials and their desires. They want smaller apartments with extraordinarily high levels of <br />finishes and community space. It’s really making making sure the amenity packages on the <br />apartments will be very attractive to the employees of the corporate user. So making sure people <br />can bike or walk to work and come back to a (nearby) restaurant. <br />The apartments will be located in the development’s Town Center along with restaurants, a <br />fitness center, a grocery store, coffee shops and other kinds of retail. <br />How will this development become a part of Arden Hills, and not just a community <br />plopped within it? <br />Lux: A lot of that will be (due to the amenities) we plan to offer.The restaurants, the grocery <br />store, those will be draws for the greater community, and not just for Arden Hills but regionally. <br />We are really being cognizant that the part of Arden Hills located (outside) the development <br />feels welcome. <br />Shaver: There is also the 50-acre natural resource corridor that will weave its way through the <br />development, and the 24 acres of active park space. Also the 202 acres of (green space), and the <br />links to the regional trail system.