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Roers Cos was founded in 2012 by two brothers with more than 20 years of experience each in <br />real estate, finance and accounting and is now the largest private for -profit multi -family <br />developer operating in the Twin Cities. Roers develops, builds, and operates/manages buildings <br />in 16 states. The majority of Roers Cos properties are market rate developments, including mixed <br />commercial/residential projects. Recent examples in the Twin Cities Metro include the 250-u8nit <br />Terra Residences in Maple Grove, the 214-unit market -rate Wicklowe in Rosemount and the <br />182-unit market -rate Lexi Apartments in Blaine. The company has also produced affordable <br />rental housing using low-income housing tax credits (LIHTC), tax increment financing, and <br />funding associated with federal and state -designated opportunity zones. <br />3499 Lexington Avenue North was constructed in 1974 and is a 34,799 square -foot two-story <br />office building with a lower level laid out for tenant amenities with a footprint of approximately <br />11,500 square feet. The parcel is approximately 446 feet deep by 550 feet wide and <br />approximately 5.66 acres in size. It is zoned B-2 — General Business and is guided for CMU — <br />Community Mixed Use in the 2040 Comprehensive Plan. <br />The Hunters Park Condominiums built in 1982 occupy the parcel immediately to the west at 4 <br />Pine Tree Drive. This parcel is zoned R-4 — Multiple Dwelling District and guided as HDR — <br />High density residential in the 2040 Comprehensive Plan. Shannon Square Shoppes is located to <br />the north and single-family residential properties are located to the south, across Harriet Avenue. <br />Discussion <br />Existing Conditions <br />Catholic United Financial, a fraternal benefit corporation has owned and operated the offices. In <br />January 2025 Catholic United Financial merged with Trusted Fraternal Life. The property was <br />listed for sale in late 2025. There is a large (189 space) surface parking lot west of the building, <br />and two driveways on the property. The eastern driveway provides access to the loading dock <br />and lower level and the west driveway — the principal access - provides access to the surface <br />parking lot and the main entrance. The remainder of the site is grassy and includes some trees <br />and stormwater infrastructure required for the existing development. There is no access to the <br />site from Lexington Avenue. <br />Aerial Map of Subject Property <br />• i •d <br />�\ t <br />s � 9 <br />40 _ A <br />41 <br />Page 2 of 6 <br />W <br />