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Central Community Housing Trust M��rch 21, 2003 Prolect Concept Summary: Har Mar Apartments is an esisting 120-unit apartment coininunitv built in 196� in R�seeillc. It i� conveniently located just southwest of the intersection of Snelling and Highway 36 in Roseville, near the Rosedale shopping center, Super Target, Har Mar shopping mall, and a host of other commercial retail services. Central Community Housing Trust (CCH"1� worked with the City of Roseville staff to identify an e�isting mulufainily apartment building that was struggling in the market place and was in need of reinvestment. Currently, the property is ahnost half vacant and is in need of moderate to substantial rehabilitation, as well as a new marketing and inanageinent s�-ate�;��. "1'hese almost 40-year old structures are 2'/z story walk-up apartments typical of that era. �I;�ny times when these older buildings are stressed �vith vacancy, social issues and years of deferred maintenance, the typical knee-jerk solution is to tear down the buildings and start over. CCHT believes a bettcr and more cost effective resolution is to preserve the buildings—keeping valuable building materials out of die landfill, update and rehabilitate them, and preserve these communiry resources that l�a�•c been serving the community for decades. There are 5 buildings with 21 to 26 one-bedroom units per building. Roseville has an overabundancc of one-bedroom apart�nents, creating si�miticant competition in the market. Feasibilit�- and marketing evaluation shows that diversifying the unit rypes is important to improve the vitality �nd marketability of the property. CCHT will modify tl�e unit configurauons to appropriately incorporate some t�vo-bedroom units. Modifying the unit layouts �vill result in a smaller number of actual units in the e�isung apartment buildings. We anticipate approximately 100 rehabilitated apartment units when complete, of these, about 70 �vill remain as one-bedroom aplrtments and about 30 will be converted to two-bedtoom apartments. Retaining the e�isting layouts of the majority as one-bedroom units will help keep rehabilitation costs lo«�er. CCHT will also make considerable improvements to the building exteriors, add landscaping, recreahon aieas, and significantiv improve the curb �ppeal to convev current lpartment communiri� trends. The 5.-4 acre sitc allo�vs foi the amstruction c�f appcotiimatcly 50 �dditional apartineclt units. Since there are so many one-bedroom apartrnents in the esisung building, the new building will feature t�vo and three-bedroom apartments. The new builcling �vill provide underground parking to alleviate surface parl,ing needs on the site. They will be built in a traditional style that will incorporate fron� parches and other Eeatures diat will encourage communiry engagement and deEensible space principles. Following the spring 2006 acquisiuon, the property will be financed and developed in t�vo �hases, beginning with dic rehabilitation of the exisung units, followed by the new construction. r1 variety of unit sizes, styles and price ranges will accommodlte various lifestyles of Rose��illc residents. Economic integration of workforce housing and market rate apartments will help fiiltill housing needs for the multitude of Roseville's service sector employees and those who can afEord 1111Y�iL't Y8Y(l YCri[S.