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<br />2.3 Alternative #3 proposes 154 affordable senior apartment units in 3 story <br />buildings with a floor to area configuration not to exceed 30. Underground parking <br />would be required. Oakcrest would not be reconstructed. Six duplex units would be <br />added adjacent to the existing home on Fry. Three commercial buildings (a total of <br />21,300 s,f.) would remain, facing Snelling. The project would add approximately <br />$13,800,000 in new value to the site. The average value of the apartment unit would be <br />slightly more than $75,000. including land. Over a ten year period slightly more than <br />$1.0 million in net new available TIF taxes would be generated. <br /> <br />M:\JAMESADD\JAMES1.SNO <br /> <br />5 <br />