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Attachment B <br />with this price point being achieved at comparable or higher prices in other <br />communities. Mr. Stockwell stated that as a realtor he did not share City Manager <br />Trudgeon’s concern about the long-term development, anticipating that it would be <br />fairly smooth, and barring any market crashes outside the team’s control, saw no <br />reason for a delayed construction process. Mr. Stockwell advised that, without any <br />pre-sale efforts and only through information shown on the City’s website and <br />Roseville Review articles about the proposed development, they had already <br />received twenty-eight interest inquiries on the units. <br /> <br />RE/MAX Realtor Lindsay Bacigalupo Reuter (1600 Hennepin Avenue, <br />Minneapolis, MN) <br />Ms. Reuter concurred with Mr. Stockwell’s analysis, opining that there is a definite <br />current need for this type of housing, based on comparable units being sold in other <br />areas, and based on available market information to support that projection. Ms. <br />Reuter noted that she and the Re/Max team had been chosen by GMHC to market <br />and pre-sell units based on their extensive experience with this type of market. <br /> <br />Mr. Stockwell stated that they were seeing a demand for new construction across <br />the board due to pent up demand during the economic downturn. Mr. Stockwell <br />opined that he anticipated actual sales coming in at the team’s projected levels, not <br />appraisal values, which he found to be overly conservative. <br /> <br />Ms. Reuter concurred, and asked that the City recognize the commitment of GMHC <br />to-date in this process; and stated that none of the team would be here if they didn’t <br />believe in the project. <br /> <br />Mr. Stockwell advised that he had met with the architects and reputable builder <br />chosen by GMHC and seen other models of their construction; and spoke in support <br />of their work. Mr. Stockwell opined that, from his perspective, it seemed premature <br />to stop the process now even though it had been unexpectedly delayed, especially <br />now that the project is ready to move forward. Mr. Stockwell urged the City <br />Council to not take the City Manager’s recommendation to cancel, but continue on <br />with the project. <br /> <br />Councilmember Willmus noted that last week, Ms. Olson had alluded to <br />information on an alternative plan for 18 units that would be built one at a time; <br />and asked that she elaborate on that option, as well as her choice of timing in <br />providing that alternate plan. <br /> <br />Ms. Olson deferred to GMHC Director of Construction Bill Buelow for a response. <br /> <br />GMHC Director of Construction, Bill Buelow <br />Sensing some concern and angst about the originally proposed project and apparent <br />lack of faith in the single-family homes not selling, Mr. Buelow advised that the <br />team had developed another plan that didn’t require as much site work as the first <br />option, and for construction of one-level homes on the site. Mr. Buelow noted that <br /> <br />