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TWIN LAKES, Roseville, Minnesota
<br />Market Assessment & Demand Analysis Senior Condo Market Assessment
<br />Developer Mike T�eis is planning a 102-unit senior co-op, Greenhouse ViIlage, at 1021
<br />Larpenteur Blvd. in Roseville. Pricing information was unavailable. The project was recently
<br />approved by the city and construction is expected to begin in spring of 2005.
<br />Dominium Development recently broke ground on an 80-unit independent senior apartment
<br />building known as The Landings. The project is located within the Silver Lake Village mixed-
<br />use development in St. Anthony. Because condo and cooperative developments tend to attract
<br />older adults and seniors who would not otherwise consider rental housing, that project is not
<br />considered directly competitive with the proposed Twin Lakes project.
<br />In totat, not including the subject Twin Lakes project, 292 independent senior housing units are
<br />expected to come to market over the next 24 months. This includes 210 cooperative units and 80
<br />rental units. The location of these projects is shown on the map below.
<br />Short-Term DevelopmentPipeline (1 to 2 years)
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<br />LQn�-Term (3-5 Yearsl
<br />The Northwest Quadrant redevelopment in New Brighton is currently in the conceptual master
<br />planning stage at the city level. Rottlund Homes and Sherman Associates have been selected as
<br />residential developers. Residential construction could begin in 2006 or 2007, with a total of 730
<br />to 750 units expected in the project area. The preliminary unit miY includes 170 loft condos, 200
<br />senior condos, and 370 multi-story townhomes over a roughly five-year period. The senior
<br />GVA �Vlarquette Advisors Page 30
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