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SENIOR RENTAL COMPONENT <br />Senior independent living rental units are in strong demand in the Twin Cities area. ~ The 56-unit senior <br />rental building will be three-story wood frame construction above one level pre-cast underground garage <br />with an attractive, urban style brick, masonry and stucco exterior. <br />The units will be a mix of one-bedroom, one-bedroom plus den, two-bedroom and two-bedroom plus den <br />starting at 714 square feet to 1087 square feet. If funding is secured, we anticipate providing 20% of the <br />units (11 units) at 50% or below median income and 20% of the units (11 units) at 60% or below median <br />income. Wide hallways are also an important feature for senior buildings. We anticipate including the <br />following features as part of our senior rental units: <br />Features <br />Air conditioning_ _--------__- -_ -- <br />Microwave <br />Stacked washer/dryer <br />Dishwasher <br />Blinds <br />Security entrance <br />Underground Garage -for monthly fee <br />Dining room and library <br />Grand reception area <br />Parking <br />57 spaces of underground parking <br />76 exterior surface parking spaces - to be shared among retail, multifamily and senior <br />