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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 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 />
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