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Last modified
7/17/2007 9:25:33 AM
Creation date
5/13/2005 4:37:49 PM
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Roseville City Council
Document Type
Council Resolutions
Resolution #
10285
Resolution Title
AUTHORIZING CONTINUATION OF THE CONTRACT FOR EXCLUSIVE NEGOTIATIONS BETWEEN THE CITY OF ROSEVILLE, MINNESOTA AND THE ROTTLUND COMPANY, INC. FOR THE TWIN LAKES REDEVELOPMENT AREA
Resolution Date Passed
3/14/2005
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<br />TWIN LAKES, Roseville, Minnesota <br />Market Assessment & Demand Analvsis <br /> <br />Introduction <br /> <br />BACKGROUND <br /> <br />Rottlund Homes has been selected as the master developer for a redevelopment project in Roseville <br />known as Twin Lakes. Along with partner developers Roseville Properties, Welsh Companies, and <br />Ryan Companies, the development team has proposed a project (phase I) incorporating the <br />following uses: <br /> <br />1. For-sale townhomes and condos (490 units) <br />2. Senior condominiums (240 units) <br />3. Retail/restaurant (317,000 sf) <br />4. Office (221,000 sf) <br /> <br />We understand that the project team is projecting a three to five-year build out for Phase 1. <br /> <br />Rottlund Homes retained GV A Marquette Advisors to provide an assessment of whether there is <br />sufficient market support for each of the development components as proposed. The findings <br />and conclusions of our study are presented in this report. <br /> <br />SCOPE OF SERVICES <br /> <br />( <br /> <br />The primary objectives of the study were as follows: <br /> <br />. Evaluate relevant demographic and economic data, together with information on current market <br />conditions for each proposed land use <br /> <br />. Develop a forecast of market demand for residential, senior condos, retail, and office uses <br /> <br />. Based on our findings from the market assessment, in consideration of the location and <br />characteristics of the subject site, determine whether there is sufficient market support for the <br />project as proposed. <br /> <br />. Provide general recommendations regarding pricing and product type(s) to improve overall <br />marketability and absorption, if necessary. <br /> <br />GV A Marquette Advisors <br /> <br />Page 1 <br />
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