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<br />2.3 Alternative #3 proposes 154 affordable senior apartment units in 3 story <br />buildings. Underground parking would be required. Oakcrest would om be <br />reconstructed. Six duplex units would be added adjacent to the existing home on Fry. <br />Three commercial buildings (a total of 29,200 sJ.) would be rebuilt, facing Snelling. The <br />project would add approximately $13,900,000 in new value to the site. The average <br />value of the apartment unit would be slightly more than $75,000, including land. Over a <br />ten year period slightly more than $1.83 million in net new available TIF taxes would be <br />generated. <br /> <br />M:\JAMESADD\JAMES1.SNO <br /> <br />5 <br />