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<br />TWIN LAKES, Roseville, Minnesota <br />Market Assessment & Demand Analysis <br /> <br />Senior Condo Market Assessment <br /> <br />Developer Mike Theis is planning a l02-unit senior co-op, Greenhouse Village, at 1021 <br />Larpenteur Blvd. in Roseville. Pricing information was unavailable. The project was recently <br />approved by the city and construction is expected to begin in spring of2005. <br /> <br />Dominium Development recently broke ground on an SO-unit independent senior apartment <br />building known as The Landings. The project is located within the Silver Lake Village mixed- <br />use development in St. Anthony. Because condo and cooperative developments tend to attract <br />older adults and seniors who would not otherwise consider rental housing, that project is not <br />considered directly competitive with the proposed Twin Lakes project. <br /> <br />In total, not including the subject Twin Lakes project, 292 independent senior housing units are <br />expected to come to market over the next 24 months. This includes 210 cooperative units and 80 <br />rental units. The location of these projects is shown on the map below. <br /> <br />Short-Term Development Pipeline (1 to 2 years) <br /> <br /> <br />Long-Term (3-5 Years) <br /> <br />The Northwest Quadrant redevelopment in New Brighton is currently in the conceptual master <br />planning stage at the city level. Rottlund Homes and Sherman Associates have been selected as <br />residential developers. Residential construction could begin in 2006 or 2007, with a total of 730 <br />to 750 units expected in the project area. The preliminary unit mix includes 170 loft condos, 200 <br />senior condos, and 370 multi-story townhomes over a roughly five-year period. The senior <br /> <br />( <br />\ <br /> <br />GV A Marquette Advisors <br /> <br />Page 30 <br />