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<br />2.4 Alternative #4 proposes 480 luxury tower apartment units in two 7 story <br />buildings. Underground parking would be required. Oakcrest would be reconstructed <br />through the center of the site. Twenty-eight 2 story town homes and 16 - 1 story senior <br />town homes would be added adjacent to the existing homes on Fry. The project would <br />add approximately $57,700,000 in new value to the site. The average value of the <br />apartment unit would be more than $110,000, including land. Over a ten year period <br />slightly more than $8.8 million in net new available TIF taxes would be generated. <br /> <br />M:\JAMESADD\JAMES1.SNO <br /> <br />6 <br />