Laserfiche WebLink
2. Description of Proiect: <br />A. Project Name: <br />: <br />C. <br />Twin Lakes <br />Location: +/-$0 acres in the area bounded by Cleveland Avenue, County Road <br />C, Fairview Avenue and Langton Lake/residential community on the <br />,7�� [t� <br />Legal Description: see attached (legal description attached to preliminary plat <br />approved ��� City Council earlier this year) <br />Description of Proposed Project to include land area, square footage of building (s), type of <br />building{s} and proposed uses in building (s). <br />gross site area of 80 acres — 30 acres of commercial retail, 10 acres of office space, 30 acres <br />of housing and 10 acres of roadways, ponds, etc. .. The commercial retail is space is <br />situated in the vicinity of the comer of Cleveland Avenue and County Road C. A total of <br />305,363 sq.ft. of retail commercial floor space is proposed. A total af221,150 sq,ft. of <br />office floor space is proposed to he located in two locations - kh� Dorso property <br />(Cleveland Avenue and County Road C-2) and on the second floor of retails spaces <br />fronting onto Twin Lakes Parkway at Cleveland Avenue. A total of 730 residential units <br />are proposed to be developed. The housing is divided amongst four distinct product types — <br />240 units of senior condo housing units, 240 units of loft condominiums, 142 urban <br />townhouse units, 82 gable tawnhorr�e units and 26 urban row townhomes.. <br />Description of potential occupant of building{s} proposed. If leased space, provide the <br />target rent per square foot proposed. <br />Retail rents in the ran�e of $10 to $16 per square foot. Avera�e estimated prices of the for <br />sale housin� — loft condominium $180.000. senior condominiums $220,000. new urban <br />townhomes $280,000, �able townhomes $200.000 and urban row townhomes $300,000. <br />Estimated office rent in the ran�e of $15 to $18 per square foot (triple net). . <br />D. Estimated Market Value of Proposed Project: between $200 and $220 million <br />E. Estimated Net New Taxes: between $4 and $7 million annually <br />F. Estimated Net New Jobs: 1,000 Average Annual Wages: $45 million ($24r� office <br />type jobs and $21m retail/se�v�ce <br />5 <br />