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� September 17, 1985 Mr. Craig Oberlander Bruce M. Goldatein & Associates, Inc. 5011 Hyatt Merchaizdise Mart 1300 Nicollet Mall Minneapolis, Minnesota 55403 Dear Craig: AND COMPANY Thank you for asking our firm to assist you in the research and planning of a senior housing development on Hamline /.�venue in Roseville, MinnesoCa. Aa you know, we have conducted research and conault�d on dozens of senior housing d�velopments during the past sever$1 years. These developments of independent living units with 8upport services have been well accep'ted and are important additians to the housing optione in their communitiea For perr�ons who would otherwise have had to Ieave their neigh- barhood� to find a living en�vironment that met their needs. in firat-ring suburbs such as Roreville, where little undeveloped land remains and where the community has a�ignificant share of its householde who ara ak ar ap- proaching retirement age, the iseue of how Co keep seniora in the community, whi�� attrr�cting new famrlies to the area ia �n important one. Ia Ytoseville, �s in othes clos�-in suburbs, a phenomenon known as "aging in place" is oCcurriag. Wteile moat seniors (80 to 85 percent) will choose to atay in their eingl� �acnily detached homee as long as their healCh permits, the remaining 15 to 20 percent are interested in living in a congreg�t� aetting that providea a cnain�enance fr�e environment and amaller, more effici�ntly designed tiouaing that encouragea independent living, yeC oEf�rs supporC servz�cea such as a 24-hour emergency call �ystem, a me�l program, tranaportation, social activities and accesa to health care. In absolute numbers, Roseville has over 2,400 houssholds with membere over t�ge b5, 16 percent of all househQlds. This represents a large gegment of the population, mosC likely long-term residents who have great interest and investment in the city and its schaol dis�rict. Only one oth�r houaing developmer.t is aow being tnarkeCed for seniors interesred in non-subsidized senior l�ousing in �oaewil.l.�, the �Jill� Park Co�ndominiums. Initial response to this development has been good, however Chere ar� many persons over age 65 who may like the concept �f senior housing, but who will want ta rent raCher than own their housing. This has beea well docu�aented by aur- veys that our firm ana Metropoiitan Council �have conducted and suggesta tha� ae- niors, l�.ke any other market segment, have differee�t needa and preferenc�a w�ich cannot be met by only one housing alternative. Given the senior houaehold base and differences in Che Villa Park and RosePointe developments, we are co�.fident Chat the projects are complementary �nd c�n co-exiat in the market. G20 KICKERNICK, 430 FIItST AVENIiE NOR��H MINNEAPOLIS, MINNESOTA 5540i � ,s � G12-333-0012 ��:�