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HomeMy WebLinkAbout2015-09-16 PACKET 00 6:30 SPECIAL MEETING REQUEST OF CITY COUNCIL ACTION COUNCIL AGENDA MEETING ITEM�� � DATE 9/16/15 • i 'I�• PREPARED BY: Community Development Jennifer Levitt ORIGINATING DEPARTMENT STAFF AUTHOR * * * :� * * * * * * * :� * * * * * * * * * * * * * * * * * * * � * * * * * * * * * * * * * * * * COUNCIL ACTION REQUEST: Workshop: Affordable Housing Presentation STAFF RECOMMENDATION: Workshop: Affordable Housing Presentation BUDGET IMPLICATION: $N/A $N/A N/A BUDGETED AMOUNT ACTUAL AMOUNT FUNDING SOURCE ADVISORY COMMISSION ACTION: DATE REVIEWED APPROVED DENIED ❑ PLANNING ❑ ❑ ❑ ❑ PUBLIC SAFETY ❑ ❑ ❑ ❑ PUBLIC WORKS ❑ ❑ ❑ ❑ PARKS AND RECREATION ❑ ❑ ❑ ❑ HUMAN SERVICES/RIGHTS ❑ ❑ ❑ ❑ ECONOMIC DEV. AUTHORITY ❑ ❑ ❑ ❑ ❑ ❑ ❑ SUPPORTING DOCUMENTS: ❑ MEMO/LETTER: ❑ RESOLUTION: ❑ ORDINANCE: ❑ ENGINEERING RECOMMENDATION: ❑ LEGAL RECOMMENDATION: � OTHER: Exhibits ADMINISTRATOR'S COMMENTS: .-� `l-l/�/.S� City Administrato Date * * * * * * * * * * * * * * * * * * * * * * :� * * * * * * * * * * * * * * * * * * * * * * * * COUNCIL ACTION TAKEN: ❑ APPROVED ❑ DENIED ❑ OTHER .. _. __ _ , , : , . , ._�, .. . . ._,.. . ; . � . . � . , . , .. / �. . . . .. . . k' � _ . � / r�il .. ^'.1. ��`rlr . I'� e ' �.., � ' f�� �����iii�; ',i _ 4��b��� i'.'1� � , � . /. :��a - _.�� / �i;�i,���'� 1 � �lii�i '�� � �-� � � ��_ � ; � � i� ► �:� ��- �-., ..-� -� / � � � I�� �� �u ��� � ''� � ,:. �I ��� �� � -�.- ���� - � � � � / r i �.P�...__-� ,���� -��:� ,��,� � � ��■ ��,rrlr �N i�.�u i���� �� � lal���; -� q�r. �.� . a � �� ��. . . . �� �r _ ,,, ��� �� � ��� � , �, — ,' � ; �p' ��1■ 111��1111 (bil�!lllf ■1■ �/��f `�IIIII�_ ''� �. 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':�� _ - -- — _�: — '� �� � i a __ _ , , :. —__, — , .� � - _ _ �' ����_� _= f _-s :t� E � �� �—,-'=�—.'_,�� I '1�' 'a f �r_., •. + . -— f'� — .a � � ` I — — -` 1 I � — _—�'� �y- :��_ ��� — � '� ��� � ' � � � i _ ' '_�" � i — _ �,�'� _�� __ � --,. — ;�---, r — — I — — ,_" — — _ ' � _ — _ —-— y- I I _.�- /1_ -� " --- �,'"� �� - -�a_ - -__-=�---_- - � __���.:_. � -- ,— ` :s � " '�I� � a�.,,,�` .:�� � t.. - _.,� ' ' J '"`� � -_ .1_; __�� .�, i + QII ��c.�� [ — �: ~�I � � 5 I� _� l I .�==Z I I IJ�-�--`..a I -' _ I�3 I — J '1^- I � 1 i Ijl, - II I. � I`.fI F U I I ' � _ _lr� I I{�'��� �� _ _� "{. ' ���-tF�� 41, ��''l � '"=�L� 1�I I 'I� f� I i\_ . � I __ _ I 1�.i.i ' _ �li I. I1�'F��,IIIIIIII��� I I II" +�����i _ ''_ The Grainwood Apartments - "Lake Nome concept" - Great Room � K � ;�� ` / �/ —�_�,� :� I _ � j ��� i�=_���—�---� �'��l!—=----�. —" l=�'��� �� �—�_� __�.: ��� .s.���U'� _=_ _=�� ��--_.�'� i�L F -- � �'I �-��—�''.�— —�'_ _ � �- _�, — I I _'"`:_�. -� i � ��.=�' -ylr : - 1`=�u_ �,. � '� N, o - -_-`� s'- �� —__--_ I� �I�_Ir �,III w 'u II '�LI�I��i� f�ii, �i�i^ �i �� � �. � -- ---- ,.�1 ',,i '�I��_- �.'4,.. �I !� �, _ {=-a�.'i I� _�_. _ _`" -�. � , _�']1�J --- " .q' T, �- t � ' ' i �` �- "�II �} ' ` '-�. I :.� �.:. �i - •. ��Lii N' 4 I �w a"��;'M��i � .__.- " � I „9�'��4 ` - ..,� =�. +� .y.�.er v�b � s �..�� � y ��.w��-. . ��F�n,w�1 �" _ `,;��..•,'„'6.�. �� ;."F, ,. -� w � i� �►�a•�"" ._, • -. ._- � . - � - _ . �:_ - _ � ___ � _ - _�_ _ �,.� The Grainwood Apartments - "Lake Home concept" - Great Room kitchen � � � � .. O '_, - � L / h I � - I ` I r �' :^y I �•L .,� �, .� � ,� , . �� r 4� I i . Corridor concept 1 with wood wallcovering recess -� i � �' 4 , 1� � . C I., i I I - I i, .. �----- ■- �" I � : '� � � _ �.,, , =-= _-_ _ �. , ✓C` . -;-._,_._ � � a . � �.�� ��, .._._. I i . t��..� �-.�— � i : ;��"�, � ,�,�e.'�.� Ap",��;� _ � - - � Corridor concept 2 with accent paint at unit entrance �-- I _ "�'�4 Proposed unit corridor sconce The Grainwood Apartments - "Lake Home concept" -Typical corridor finish concepts D K v ` . � . , Kitchen ceiling light fixture Exterior Deck sconce � � �� � rt�, ,I' I I Kitchen isiand pendants and Dining Room sconce , �. U';;� Bathroom vanity light fixture Bedroom and Hallway fixture The Grainwood Apartments - "Lake Home concept" - Proposed Unit lighting � � c� u � �"� I - �,.� _�f �. , . - -- --______ _ _.._ ..,_.__ ._ __ ' .,^ — �',�:i'=:(<',s�: . :;r. ' _u.� ,. -., - �' _ j�-� � _� � ��.�. ,.� �� .- � r � t � .���i. 'a . .y . . . ._ . .. . ,..�.._ _ � -� - �Ci�l� i R9nb 1�. . - 1 .. �� � .�� '�., ` � 4'1 �4�1� ii . . . . -,� -,i i .s. .�. '_ �. � �, ....� - ...II , Fumiture upholstery concepts � - - . ."�N '= Mew�n � 1- 1__ u (> �� ' - __ �:� ,- . _ . ,.._._ - -_ � - . � �, • - - . t ' 'e �� .___ . ;�, : i --'._ _��.s�,..-.;� �-._�_.�.�.;' r. • .,v. Public todet - �,;,�„_„_ � �",i wall tile _� . ��� -� - � . i ' - - :�l� �, �u - - - � _ _ _ � _ .� _- - ,i�.. _ _I '- _.. ����_.. -._t-;.;a' �;.. _ `• �- �,, } r:i e�� r _ . _ �� .��'� .'X.�� .� . Furniture upholstery concepts � ��y�d�� �i � � x � ��� ;� � �•� ►-.y' � Paint colors ' ti =� �"����- id� W�+� ' '- _ v..�. _ • _ l . � � � ��.t .�idZ ,�� ;y` ��;i �i,' __ _ - -— - - - ���� I -�."�-(=. �' - ar/Clubroom Counter. : _. _ . .. . . . � i ' i - - nd wood_ .-- --� J I° - �'.�— -- , -r,-= P_ � - .. I- _" � tlb�- .� :. Coffee Bar Backsplash Tile � General . �- �� _ . . horizontal and vertical , rnt . :.,� 4i:,F,.. , laminates . i K � _ ' , _ :. _ � �°G^n�.�+r �����(c���'�'C���� � Vnyl Flooring _ � The Grainwood Apartments - "Lake Home concept" - Interior Finish Pallet (labeled) � K � ;, �_ c -�� : - �vu;��.. --�.,.�'.-.-. ,�'•�� ;� � . ,... . ��� Y, .� ��, + �Ill I , "�`4�� " ' a,��.�,�,r.�, ; +j .;,. �� 1.�'+�+'�R'�.; �'J F�' 1 s," " 4 - ,,�,' '� _w�.�.-�.,.... `,t �,�y�. . 'w�._�.; "----�---_-�.____.�. ---- • s'� ' ' _ . � '�"'1�. � ������^r��"" _ ,��a ', C���f Tr,: - f. I f' s�.3d�� ( ; - - . . . � _4. '::::_:1.:._f__:_..--- '. • '��' •�' �M �� T , ..��'----- -- ' . _�•.:. . � .. , . -� � A. . ', '---'-'t. �•� `.�, ��;�• :5c3c_ ' � fy � I L . .- 'i �=X� �` � • .i� . , , �-t.ft j �' �'' ±'.� ' ��� q' ,.j� �����. y-� .. ,,.�� . '- . �. r .��. ����l.R�- ���:a.^.... � - .dir. �.' � .L� r � �ta.... ?1e . - . s� +.w ,.r r.,i�.: -.. �.�....�_ � ~i t�• Yb`�:�ra � �,,i,. �.�3ra�� - -+-."` ' � .t 1 r ''�-�-, �, ��3fY7R'�`c i y.i'" � ���-'7;�1�' � . . -� ` � � �I. +��. �si�`�s1Y:'�i-�l�" �<y, T r :4 i r- r< 'Y.:�'�"'sz� _...�� �..C/'�'�._.. -.^'-� ,.. ' (r -� � ��. .�t�~ ~ • . . -. .L� . ' � .. . �4 rj.�� _ . - .� . a A " � �.� .r.. _ ' �' _ a ♦�r � � Y� � _ .��....��. �� -. ... .. .. _ ti. • . ' . . .._ . Y���~ ~..0 _ � - -� �;.,3 .' � � � ���� ♦ ��� � �. � � � •. �� � �. �� � � ��� �� .... The Legends at Silver Lake Village — St. Anthony, MN � il � �%% _��R 1 � � �t—,— �.,r ��k '°r��, r f E.�i 1��� � ��'�'1 �'`;`��,` ��� � R 1 � !�� / 11 � . ' t `'' " � ` !�� � F �� , ,� : ,r� � ►'� — 1= s{� ,; �, ,� ; i � �._ �r` � (, ;i: '�' � � i� ! I 1 � 1 � � i� � �fiiz�`' � i � �� I, �� �; �• �� �;` � ', ��,,, � A�t. i � �• � . €'; ��' '� �� I � '� �i� '� � �t� �� ��� '��'��'•. ;�. �I stl 1 'A 4� � :� k�,� I� �.n... � �:- (� ' � � �. �� � E r � �',�- 0 1 � - — ■ ' '� � " -'I�� . �y` ��i;a� � i;l :1� �._. ' � ' e,. --- . __. s� , . _ --- _ . ... � � � r . . - ,_,�:_ ; �.,. y � ����:. , . _ '.j...t..-. . �. ffM1• � .a'�..5�: . � _ ''' �,� 1 ►' � "� --�'`_ y � � ���„�'�'`'�'R 'r,,�` � A� � � .'3� _ � ' . s t � '� ' `�"+� = , � `r_ - t � � 1 i ;y_ ` � r �•,:_ . , - -: . . _.., - f� � �� '�` � . ►� �. � -- '� � �.�� �i � � � '* '�. ! � l �./" �� , =. ���" .. �� , �',� i � . -- •!�� �.���j . � • i ,i� a ��_ � '.� �, � �. � �� D�M11V 1 V 1V1 The Legends at Silver Lake Village THE LEGENDS at Silver Lake Village . s � �.�<<� r,_, i�,�l;�i r: The Legends,«�hen complete,«�ill consist of 170 units of affordable senior homes,to 1 hc 1 r�;;encls��.c;il�°c� L,�_I<c�'il�ag,c be constructed at 2500 38`h Avenue Northeast in Saint Anthony,Minnesota. The �c.�,�,thony,;�iinn�sor:�. Saint Anthony EDA sold the property to St.Anthony Leased Housing Associates II, LLC(Doinuuuin)on June lOth,2014 to coinplete the envisioned developinent. 'T5'PE OF 1'ROJFCT: 170\7ulti-Family Al,,:rtmcnts �.�;�R�sn;�r��l(»;�nd ol�l�r) This development will pro��ide affordable housing for tenants over the age of 55 who income-qualify,eariung no more than 60%of the Area Median Income. Due to ARCHI"rECT: the use of tax exempt bonds as a portion of the financing,rents���ill be restricted on r;�;��r,°L1�' 100%of the units,«rith 136 units at 60%AMI rental limit and 34 units at the FMR CONSTRUCTION n4ANAC;EMEN"I`. rent limit.The project will consist of One-Bedroom and T���o-Bedroom units. L>l��lc Tiuildcr� DOn-tINIUM'S RESPONSIBILITY: The building��ill be constructedusing quality and attractive materials that�vi1l be R�al L=c:lre ne��lo�,mcnc aesthetically pleasing to the local communiry. It v,rill consist of four stories of resi- Prcjc�r 1=in<<n�ing dential li��ing«�ith multiple floor plans and underground parking. The Legends«�ill LcRal��n�l Ln�;r�,�,mc,c,tl S�„�i«s fit��nth the cormnunity talzing many architectural cues from the adjacent Silver Design,�.�,d Co„stru�cion;-1��„aycmenr Lake Landings development. There willbe appro�mately 129 undergroundparlc- i ro�,c�c}��,1.�n�t��menr �g spaces and an additiona159 surface spaces. With the target population in mind, sc�tion-!�Con,pli.�i,�e the building�uill contain many amenities including a fitness facility,mo��ie theater, PINANCIAL PAR��NEIZS: library,balconies in every unit,covered gazebo,club room,card room,a parry "I"he Cicy of St Ar,rhon�F�.a kitchen,v��ell landscaped courtyard,craft room,a guest suite,and a salon. In addi- Cir��of St.Ancl�on}, tion,the residents��ill have easy access to enjoy the presence and many communit�� R,�ms�y Councy acti��iries provided by the nearby Salo Park. A-linncsoca Housin�Fna�lce At;enc�, Allian_r Ca�iital P�,u�h�_rr��� Compa�iy:tLC The Legends is financed through the combination of Tax-Exempt bonds,4%Lo�v TCF T:�nl; Income Housing Tax Credit,Ramsey County HOME Funds,an equiry bridge loan, "i-rn�AL DEVELOPLtEN[COsI: and Tax Increment Financing. Dominium has a proven track recard of being suc- S�Q,7:7,00o cessful v�nth diis coinplicated financing execution. The Legends is a project that the Ciry of St.Anthony can be proud of due to the appropriate use of space and the siZt�: need that it«�ill meet through providing affordable li�*ing to its senior population. �.61 A�res(s'it�) This is a project that will continue to serve the communiry for years to come. 2bo,050�c�uarc Fec[(P>uildin�) CO\IPI_L-TIOI�T Dr1TE: Jone 2015 ; . . � . " .�� .� I �� . � � _ �,. .,� �€e�_ � �" ' - � I �g ' .�li � � t � � � !�� f; � _ „�„�.l. . ���..... ` �[ �r1 �R �'- Y I � � , '"�'.�N �' i ���'��'_ � �. '� �7�; ��►. , i�� r� P� � ► � ��I ( � - ' � . w. `� . �� � � �� �� ;�,I .� 7 � , , �, ' ' � i, " � { � � � ��i..l��� t�'�`��hi.iil ea r .� " � �► tl� t't _I= `� 1� � '' ` New 55+ Apartments ��£ `�� ��' � '° � peni�g Summer 2015 -�,.:.�.�� - D�MINIUM The Legends at Silver Lake Villa�e THE LEGENDS at Silver Lake Village . ., F �,� �•�,�:�� Creating Affordable Housing and Investing in Community It takes goveinment, industt-��, and the private sector �voiking togethei to advance affoidable housing solutions dlat inake piojects happen in the iight manner acioss die countt-�T. �Vhen we partnei togediei �Uith families, corpoiations, contiactors, cities, and counties,tve are able to impiove coirununities.The Legends is an ezcellent example of just such a partnerslup olat�vas requued to cieate affordaUle housing oprions into die futiu e,��hile at the saine time adding vitali- t��duough job cieation and econoinic stimulus. I i Funding Sources � Ramsey County � HOME Funds_ 2% � G.P.Cash 12% Sale of Federal Tax [redits 27% Tax Exempt Bonds Tax Increment (lst Mortgage) Financing I 559'0 4% __ .. - - - -_ _ - g_ _ g $ The Legends development is estimated to cieate ovei 24,190 inan houis at an avera e �va e of 27.00 per hour over a th�teen mondi construction period,wluch equates to approximately �y653,000 of eainings for the local la- boi econom��. --- _— - -- — -- ___ ---- - -_ - -- - � Dominium- [3ricklayers& additional, 1,210, Masons, 1,089 other Laborers,_____ I 1,452 I � f�lurribers&related, 2,171 �'ainlers, ],331 Carpenters& related, 12,096 Electricans& Mechanical, A,838 i _ _ _ � DOMINIUM The Cavanagh—Crystal, MN � � y � � 1� � .... . � � � � � _ r..___�-'�.� �� ,5���. ��,, h � ��1. .� . .�..`-'- �� - �� � � � �i-. r �II� '� �� ..''�.,�_ _�--�,. , �I �,� � , � F y Y , � -�� �:W� .� �. �1 'x �< �� . s - *� ';. 't' y �;, t � � �.''�'�i. f � b � tt --- �� ,F , Y:�; 4-- __ ., _ �'.{ ���_ I�� ..� _� + , � �y � - - . � ,��..:.�:�., � � '�,�,;�:��".�,:. . , ' �---� - p ,_ --«- - A t. _-.. �I./ -�� - "� � ' � �n � � � � � � , J ; , , � � ; � ��, �� ._. ��I�I�► ��._ �� , � �, ` � l�, �:�� . , , ; ��� i , i , � � � �- ;� I , •---ry ,,1, � �� .� >S ' � � G}=1 i i - ' � �. / � � Z,�. � �} r� � � � ,� - �� ��q . � , �`� F � , �" i �� '- *�� �� �.� �, � . � . �.� �,, � �� � . ���� _ .. _ _ � � . �.�._.��.�r�. � � ; � DOMINIUM � r�� The Cavanagh Senior Apartments Cavalla�h �— . F . _ , The Cavanagh,when complete,will consist of 130 units of affordable senior NA\-1E: homes,to be constnicted in the place of the former Cavanagh School. The -1-hc Ca�anagh Scnior A1�artmenr� Robbinsdale School District sold the 54-yeai old building to the City of CrS-sta1's Ci}�.=.tal,T�Gnncsnt�i Economic Development 1luthority(EDs1)in October of 2012. The EDr1 suc- 1-1'PT�OP PR(�JEC"1�: cessfullj�handled the demolition and remediauon of d1e site so it could be sold ]'s0�ccrion-#"�,��o.rtmcnt5 and de�reloped into a pioject that can best meet the needs of the commuiutp and Agc Rcsirictcci (»,u�d uldcr) the surrounding neighborhood. The EDrl sold the property to Ci-��stal Leased ;?Cfurclal,Ic Units(f;Oryo fl��(]) Housing�ssociates I,LLLP(Doininium)on June 10d1,2014 to complete the ?0%,I�air 1�9ar1<cc P.cnt envisioned development. ARCIII"CECT: This development�vill pro�dde affoidable housing for tenants over the age of 55 PK�'Grou�� �vho income-qualif��,eaining no more than 60%of the�ea n�Sedian Income. Due to the use of tax exempt bonds as a portion of the financing,rents�vill be CONSll2UC"1lON\�1ANAGE\�1EN"I": iestricted on 100%of the units,�vidl 104 units at 60%�III rental limit and 26 Stonebridge Construction units at the FI��R xent limit The project will consist of One-Bedroom and T�uo- Bedroom umts. DO1��IINIUNt'S RESPONSIBILITY: Real Lstatc De�,�clopment The buildingwill be constructed using quality and attractive materials that��ill be P�e�;cct Fi��;�.i�cing aestheticall5�pleasing to the local community. It will consist of four stories of Legal and Enaironmenca]Serviccs residential living�vith mulriple floox plans and undeiground paxking. There will Desigi� ;��f<ina�emcilt be approximatelj�96 underground parking spaces and an additiona166 surface Prope�c}�A I,u�,�gcrnci,t spaces. �X/id1 the target population in mind,the building�;�ill contain many Sccrion 42 Com�,liance amenities induding a fitness facilit��,movie theater,library,balconies in every unit,covered gazebq club room,card xoom,a party kitchen,gardening area, Fl i�'ANCIAL PARTNERS: craft room,a guest suite,and a salon. In addiuon,the already existing park that Cit�r of CrS�sral TDA is adjacent to the property�Uill not be disturbed and the residents will have easp Cit}'oi G'}�stal \4inncsnta T-lo��sing Fin:uice flRcncy access to enjoy its presence. The builduig and landscaping�vill be designed and A1ii��.nt C.�.pital maintained in a�vay that is consistent with the quality that Dominium has estab- Doughcrcy EL Corn�,any,LT_C lished their national reputation on. 7 CF I3anl: The Cavanagh is financed through the combuiation of Tax-Exempt bonds,4% TO��AL DEVLLOY1�lENT COSZ`. Low Income Housing Ta�:Credit,an equit��bridge loan,and Tax Increment ��,�,3��,c�� Financing. Dominium has a proven track record of being successful�vith tlus complicated financing execution. The Cavanagh is a project that the City of SIZE: Crystal can be proud of due to die appropriate use of space and d1e need that it s.�4Acres(Site) will meet through providing affordable living to its senior population. This is a 203,=+50 Squarc I=ent(]�iiildings) project that�vill conunue to serve the communit��for pears to come. COi�1PLE"CION DAl-E: , � -- ; � � -� -- - _ � i �a' .� Ll i r � �_ , _` �'n -t �l� I i -- a 1 ; �._ :^ ; a # � �,� � _-- 1 l'' . =-- = _ - _ �` r � .,� �.��,. i i� ��f - — !— r.' .', � � ' C'i. _ h i.�, RM ' � i �� t ` . . � ` � �.� �!; i � ,� . 4_ � � . 1„i e ,Y f �r� �: —� .� � DOMINIUM T�� The Cavanagh Senior Apartrnents Cavana�ll Creating Affocdable Housing anti Investing in Community It takes government,industr}*,and the pi7vate sector�vorking togedler to advance affoidable housing solutions that make projects happen in die right manner across the count�-��. When�ve partner together�vith fanvlies,corporations,contractors,cities,and coun- ties,�ve aie able to impxove commuiuties.The Cavanagh is an excellent example of just such a partnerslup that�vas required to cxe- ate affordable housuig options uito die future,�vlvle at the same time adding vitality tluough job creation and economic stimulus. Funding Sources j I c,.P.Cash 14°rE Sale of Federal Tax Ucdits 2 7 9'0 Tax Exempt Bonds Tax Increment (1st Mortgage) Financing 5596 4� � i The Cavanagh development is estimated to create over 18,500 man hours at an average�vage of�27.00 per hour over a tiv�-teen month construction period,wluch equates to approximatel}��500,000 of earnings for the local labor economy. _ _ - ----- .__ _T._ _ -- — _ _- - -._ . __ -- - ----- -_ ._ ' Dominium- Bricklayers& I additional, 925, Masons, 833 � Other Laborers,____ � 1,110 -- - i � � � i i ; Plunibers&�elaled, ],665 ',`�=z�. � .. Pdlfltfl5, �,�� � ��..�. - n . ..• Carpenters& Electricians& related, 9,250 Mechanical, 3,700 . �-3.. `L� DO�V lYl The Landings at Silver Lake Village — St. Anthony, MN ������,r-�_ �s`i-- / -- --- . ' � �/ ,,�j� � i, � i: f: �, �`��,`'-- � __ �� �• •. F ' �,; : �, � .�'A'�`��. --� i� � '--------_ , k ` i- i . i, _'� �� ' / � `--__ �■I F i� Pt�; �� ' E T r � �� &@�If_ F -- / f _ � € ! r ,f; ,� ■ "'' :., ■ f - ' t l�(l ` �;� t: k` , � it, �'f� � fi J �" ' �� �'� �� � S A'� I _ . - _�� , a� _�`,1 "r`��.�"-h��:li-� �,-- �� _ , _ " ,,:, - - � �t� �; �1.._��� _ — - - _ � Ij `'"',��.: _ _ ,_� �' �V�r � �� �:� -� � _.-}, ti�._ _ , - . ��,c��tia��`� 6 � �` r -- -- ' - ,� �� . 3 . _ � "" ,� � I `.� _. : . ,3. �+,' � _ _. y ____ r '�, � � .__- - . — fl�' - - . '__'___ � I .�. 'O� 1 ._ ..t, I /. '� I�i: ,r,_�� � _ _f:r "�� , - !, �� ii � , -, �-� �( � - � , ,-- --- ��� Ln��iNcs �; � ;� � � ` � !„ '� � —� E—� � � �� ��� � ' � �� ��- E+�� �I� L '�I � ;�� I �, _.1 � I ' � -- � � y I � � ? ��'' �� ;r� i ,_ -- y --- � �i� ; � I ' -ti _ #{�r .,; _ a -- - ..=� y:�, ''� �•�¢��', ��, ' - .a.. _ -- { .. .. �;'�':.I , .. _ .... .- - _ �— - � <.`�}a - �.. ,. . � ` � J. ,s 7 _ � �- _ ' h - - ���� � .. - .. :'7 . r�.- � � s, � �'4i ��F • �/01.111\1 V1Y1 �� I.ANDINGS The Landings at Silver Lake Villa e �.5��«�..���-,��,;,r g �'�Z'�F: The Landings at Silver Lake Village is a 261-unit apartment building that ��h�L;�_„�Is�,�r�:.�r�����_� �:�1«v;�l;,_� is part of a larger redevelopment located on the former site of the Apache sr.;��,cho,,;�,t��;�,�,�5or;� plaza shopping mall in St.Anthony,Minnesota.Developed in the early 7-5't�L oF Y�zo���c�-: 1960s,Apache Plaza was one of the first indoor shopping malls in the z,��;,i��lc�-1=��,,,;ly,��>��,n,���,c� country.The mall opened«�ith great fanfare but during the 1970s and �`��";°' �.>>'l�"„",�s 1980s,mall tenants began leaving for newer and larger malls being built in , surrounding cominunities.Apache Plaza was ultimately demolished in AI�cH��rc�-: the spring of 2004.Over 4,000 people attended the"Bulldozer Bash"on Jil<<. (�I"[�l.t�� March 20,2004 to say goodbye and cheer on the ne«�development. COI�TSTRUC��101`T I�IANAGLtiIEN"1-: �'��t=Ts ruil�l�r:; The entire$150 million redevelopment encompasses appro�mately 44 Dont►tvlun-t°s REspoNslB[Li n': acres betv��een Stinson Boulevard and Silver Lalce Road to the south of r.�:�]r_�t:u�nC�-�lop,,,�„r Silver Lake.In addition to our 261-unit rental project,the development , r,o�«c ri�,.�n�;�,�� features a brand-new Walmart store,additional strip retail and office r_�g,ll.��,d l=„��;ro�,,,��,�r;�l s��-�t��s space by The Robert Muir Company,for-sale condominiums and town- n��;g„��.,,d co�,<<,����t�on t�T.�.n<<;;�n,��,r homes by Pratt Ordway and Hunt Associates,and several new Propert��A.4anagcmcnt T2St1i1T1ritS. FINAi��CIAL PARTNERS: t.:�s��ll��3���,1<<�i.��. Our design concept for The Landings at Silver Lake Village features well- T�i�ns�>'co���,t�',�'f'" laid out unit plans and an ameniry package that is second to none.The rh��c;ty oC sc A��tho�,y��sll��g� basic building consists of two wings separated by a two-story drive- no���;hf•,r,��.con,p.�.ny,l_�c throu h meant to di�ride the buildin both��isuall and also se arate the h-iinn��restBanl: g � g y p 88 senior units from the 173 market-rate units.Of the 88 senior units,53 TOTAL DE��ELOPn-IENT COS"r: will be set aside at reduced rents for lower-income renters. Senior ;;a s,000,000 renters will enjoy their own fitness center,communit��room,and medical S1zF: office.Amenities on the general-occupancy side of the building include a �.�-+,,,�,�5(s�t,,) pool,year-round hot tub,fire pit,clubhouse,party room,fitness center, �}3Qti`!:�Squ;irc FccC(Puildim�) and theater. co��pr_F�riotv n�Z E: The exterior of the building is of traditional style,with a combination of �:t,�y�oo�, brick,stucco,and lap siding.The one-story clubhouse has a stone facade and is clad with a metal � � •�� �� (} � �1 , �. ,, i ��, , �` � �';w�F�' fJ . � ' ' � � � r � r � � il. ' �i r .� I � y .. � .�__'�'� _ . .K rt-. mn]�] �� .n_ � F ' � - � �u,► � �_ _- � _ •I l �- �'' s - ...-�a__ � ��r � �.� - � `' I jt�7 -fI`� __ I � � � ' i � ` I >. :;t.: r., - DOMINIUM 808 Berry- St. Paul, Minnesota ��; ,,, �:; i� j . r.• � � ' Y ,� . i ` �. i i � � f�:1.. 1 i � _ :a .oill . �- �- ��_. � , � '.� � , , • `'''{^- ' , t-. ,. `' 1 ,r� ■ +�i Tri Lt' �� ., . ��� � .. ''��i �� 11 �� �!-„ � � � f ., ,. � ;; ,--,. � �,, ,� ` ,.,, � � '� � '� . � �µ ,i!'��, . �� � � :� ='•r':„ .. - -i ;�; �p,, �, _ t ;� � ,� ,► ��t.. � _ `'i'i �j�`. �� ��� , y'�'� t ,` � _�".�� �, , ,,: �` . � i � `�t� i. `t, C '',`�� l �. , � -t:. I�' i.:Ll S.S F• '....��,t - �� . . `� � (� ..� _ �r �. r' ��I` . •� .�^,. EI %p' �• �y �� +��y� 't3 !' �.• � ' ' ��;� i �� ♦ t F } _ ` � � 4 ! s � .��'�,�, ` t_ ' , , � ~ ���1:j � .��:-! '� ^, . • �y I � �' x �''�� '� ..1� ��.V`�: 1�. X , ; � .._. .. . d� T.tf�.'�iik tj� � � .��' � _ :i`�tY •�., ,� `e M r11 �'�'`w� ��..,�Y _ � � r�"��' F:` �� .. - � �: �'�;;�\ r' >�` .��1 ti:�,'�- �.� . �_�1.� � rr F` ����, °.�,i1�°� �. .� _ . � , t .r � ��-��.:- �� .. �ti��� t �(�� � - • t y '. =i 3 �d:r � '.-.c., ��D'1rI. � r f w�� � . --: . � - -. ' / �;rs•. �F:�1 G� �^� a� -'y, �7 ����`� � . � � ����I ;��' � � � � r � -,��� +� �� -- . � ' � -- '�--•,,��'' �s:: �` - � .i _ � ; . �� _ � ,. - �� � - r � .r----� � �`°'�' ,�. ; �.1 !� � �_ i .� .eC�' � � - .. -!+ _ � `-_ `�.�' �t - , � .`, .'` .� 4�, � � - � b0 + '� �1 '� '� �� � •��.' F � �_, 1 ' �'i + . � � ' . -��'O �" .s� ' .. __. -- ! ` r' f'R ;� ,.f_41. .�;,, �. J'�r /__ • I . 4i A � ��''• ' � , _. ' f � , i �,����. � . r�l �I' a•-:.' �_� p " . �,P.��- .I�„ . +�`_ ! , . .�. .p!�r��(�f' ,C� h, ' 3,e+y� �.�� .^-�, ��' s�r '► • � s�r''�•y ,�.. +` � � ( y'- � � � D�1V111V 1 V 1V1 Albertville Meadows Townhomes—Albertville, MN ' � - � , ��' -�� , � ��- F . � �� f `� ����' - _- . r��i �� � �, /� _ � � � ; - - � � _ - � � , . �� � -� ������' f ,A� ;•�. t . �, .� R�! , � - I� ,.- � � � � f� �- . ,.� � . � '� , ;; . _ n.�. . . . . :� CCi�1tdS�29L' ' � i `�� I �d _ � - ac 'i_ ,�'� , ; .�_ _.. _ � I ' " � •.i� _ .Y _ . . �}� " - . . ,3i�'.'�� ` t� _ - —� � _ — �+ .,Y ' r�,�.; + , ..: - - ,,�, ` A ^� r ' � '= "'', ��� � f = '����A����r�r����" �'� �� . �► � - �=� � � -. .—;.,,� i r.^ :,M, / `� � �r _�- --�___ _ _„ .�.,.�:, e '�` �i��rA��� „ , I _. _ . ���--�-�t r tu � .� , � I , -=__ � � ,.-.-- '�� ���� ,� �� �� r.oaeanae �'�+=:.....z � I�'_ � +� ,. ___. t J- � ���� � __ � ' � �p�� fa ;� � =''�� ,.�++�� � �r i� �� � �[ _l ,,,.�_.�_ `„' i^� '.. � �j�•3' ��.1-� �- "- .:/�: '� � ..� r, - : -•+�. `�� ( y•Y- .. - ��� �- T-�� _,. -�--- i�. `r. � � � . �_• � � � � . ' �•i � ' � '� _ . . �_. '� �� ��..-- . .. ., ,:'Y+ _ . _*v�� "_ .�_ . L . . .r�� � —�. � s"c=' �u` .s• Y���:. ~ . . ._ 'i Y�+ L_� _ _ t � DOMINILJM � : � • Albertville Meadows ToWnhomes . . , , ��r„_`_�`r'`_`__°_i',�t?i:�oS,v,i� '`��`�F: Albertville Meado��vs Townhomes is a 37-unit to��vnhoine property `���'���`�';��c'��``"`�°��` �°"�„�,°„"` located in Albertville MN. Construction began October 2008 and AlLcrt��illc,\iinncsot,�. � 100%of the units were delivered by March 2009.The site consists �-5'i'r�F�R�lEcr: of eiaht buildings in all,coinprised of t��o,three and four-bedroom ������r;�,�,-�% r�,�•,�,�,��,�„�., to��vnhomes. 100°/;,oi Units�fi��r�l:iL-lc(60°/,�ii�1l) :��tcxl�rFc1�: In 2008,Dominium Development&�Acquisition,LLC took on the ������''°l'�' project of building Albertville Meado��s Townhoines.T�he compa- covsrrtuc�-To�T n�t�t��acLn-tr_ivT: ny applied for and was awarded Low Income Housing Tax Credits F�������,�c�,�,�������r;�,,,c���,��:�,y and gap funding from the Minnesota Housing Finance Agency.The nc��ltN�un-1°s RFSPorvs�Bli_i1-1': total development cost for the project exceeded$8.4 million. Rc.:l l�stacc Dc��elopmcnt Projc�t Fin;ui�in" TI11S WaS 111eW CO11StIL�Ct1011 pTO�eC�.Tlle COTf1T11U111�y featUTeS a 1_<"����.,�d L„�•��„�,��,�-»c:��s����,«�� 1,900 sauare foot coinmunity center with management offices, ar- Design.u�d Construction i�-Z;tnag�mcnt p P��,�,�����t�,:��,,,���„�„r ty room and exercise facility.The townhomes feature 9-foot ceil- �«t;��„1z co,,,�>>;�����,_ ings,over-sized windows,full lzitchens,washer/dryers,central HVAC and lofts. FINAl�TCIAi.PARTi\TERS: C1-iHP n����n�.5�r1 i�o�,��r����,�.�.�«,s;;�,��;� Dominium closed on Albertville Meadov��s Townhomes ii�October u51'�"'�: 2008 and e�ects construction to be complete in June of 2009. ?��iii n��cst P,�.�71< Four units are set-aside for homeless families. Support services for To1-AI_n�vEt_oP;�-tztv�r cos�-: these families will be provided by The Salvation Army. `�S,4�7,OG0 SIZE: �i."?5 r^,cres(Sitc) 67,��1 Squa.rc Fcct(Ruildin�) COn4PLE�-101V DA1 E: ]unc2009 ��� •�"���, ��- ��3-- _ � _ .. .'� , �'�1��� ¢� - ' -. ,/' � _- .I�� .,I--�' � ��� _ . � � i� . _ ,.i: ` ,'..I�' ' .:�`2� - � _ _ "! '� . .;•�'i' ,', i ... , `�. � � '�y�� ��� »a. � . . � � _-����- '� ,I,��������'i.' , - �i �i'��� � �� _ �y��� - �-.��tr� DOMINIUM i