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TWIN LAKES, Roseville, Minnesota <br />Market Assessment & Demand Ana�ysi� Introduction <br />BACKGROUND <br />Rottlund Homes has been selected as the master developer for a redevelopment project in Roseville <br />known as Twin Lakes. Along with partner developers Roseville Properties, Welsh Companies, and <br />Ryan Companies, the development team has proposed a proj ect (Phase � incorporating the <br />following uses: <br />1. For-sale townhomes and condos (490 units) <br />2. Senior condominiums (240 units) <br />3. RetaiUresta�rant (317,000 s� <br />4. Office (221,000 s�j <br />We understand that the proj ect team is proj ecting a three to five-year build out for Phase I. <br />Rottlund Homes retained GVA Marquette Advisors to provide an assessment of whether there is <br />sufficient market support for each of the development components as proposed. The findings <br />and conclusions of our study are presented in this report. <br />SCOPE OF SERVICES <br />The primary obj ectives of the study were as follows: <br />. Evaluate relevant demographic and economic data, together with information on current market <br />conditions for each proposed land use <br />• Develop a forecast of market demand for residential, senior condos, retail, and office uses <br />. Based on our findings �xoarx� the market assessment, in consideration of the location and <br />characteristics of the subject site, deterniine whether there is sufficient market support for the <br />proj ect as proposed. <br />• Provide general recommendations regarding pricing and product type{s} to improve overall <br />marketabilityand absorption, if necessary. <br />GVA Marquette Advisors Page 1 <br />