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02-12-24-SWS
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Attachment B <br />Arden Hills - former City Hall property <br />Development Proposal <br />Background <br />North Shore Development Partners (North Shore) is pleased to submit a preliminary concept <br />plan for property owned by the city, which previously was the home of City Hall, located at <br />1450 Highway 96 West. With this submission North Shore is requesting the city consider <br />selling the parcel for the purpose of developing an upscale townhome rental community - <br />examples attached. <br />The surrounding uses are Highway 96 on the north, Kinder Care on the east, single family <br />homes to the west and Arden View town homes to the south. North Shore is proposing 60,2 <br />story townhomes with thoughtful design and amenities for residents. <br />About North Shore <br />North Shore is locally based out of Wayzata, MN with strong background in high quality <br />multifamily and mixed -use real estate assets for Twin Cities communities. With more than 30 <br />years of development expertise across the Twin Cities, North Shore brings a robust roster of <br />industry relationships and a passion for creating unique, optimized financing solutions to <br />each project. We provide expertise in tax-exempt bonds, conventional bank financing, agency <br />executions and TIF, among others. North Shore does not seek third -party equity. <br />Our portfolio of assets is managed by Steven Scott Management, one of the Twin Cities' most <br />respected building management firms. <br />Please refer to our website for more information on our portfolio and our management team: <br />www.northshoredp.com <br />Regards, <br />//I'- <br />Matt Alexander <br />North Shore Development Partners <br />235 EAST LAKE STREET, SUITE 300, WAYZATA, MN 55391 <br />
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