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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. <br /> Project Status Memo 5 <br />