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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 />. Our calculations indicate that the market will tighten between 2005 and 2008. <br />Therefore, we advise that the 240 senior units at Twin Lakes be constructed in the <br />coming 24-month period to take advantage of current pent-up demand. <br /> <br />. Based on the projected demographic characteristics of the subject market area and the <br />region as a whole, and given the development concept as proposed, we expect that the <br />senior housing proposed for Twin Lakes will expect a buyer profile as follows: <br /> <br />o Older adults and younger seniors, generally in their early 60s to early 70s. <br />o Approximately an equal distribution of senior couples and singles, whereas <br />rental apartments tend to attract mostly singles <br />o Senior homeowners with homes valued in the $175,000 to $250,000 range <br /> <br />GV A Marquette Advisors <br /> <br />Page 34 <br />
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