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2. Ron Clark Construction, Mike Waldo — Ron Clark Construction mainly specializes in single-family development, townhome development, and condominium development. As of recently, they've also began to expand into multi -family development. • Development Types: o Retail: Neighborhood and service -oriented retail, such as a dry cleaner and restaurant (5,000 — 6,000 sq. ft.) o Residential: Market rate multi -family development (minimum units 125) o There is no market for condominiums, plus concerns about liability • Rental Development: Average rent of $1.96 per sq. ft. • Commercial Development: Triple net lease between $12-15 per sq. ft. • Parking Ration would need to be around 1.5 -1.6 per unit • Positive Attributes: o Lake Drive traffic numbers per day range from 17,000-19,000 o Great access to 1-35W o Parks and public outdoor space nearby o Good location with big box retail across 1-35W o Willing city to identify development • Negative Attributes: o Immediate access to public transit o Site not directly off Lake Drive; it's more or less hidden from sight o Economic uncertainty o Development fee structure in the City it too high • Land acquisition price for a multi -family development would be about $11,000 - $12,000 per unit • Public assistance would be required with any type of development 3. Alatus, Bob Lux and Chris Osmundson — Alatus specializes in multi -family development and mixed -use development, but also undertakes condominium development, single-family development, and commercial development. Development Types: o Retail: Service -oriented retail (day care, coffee shop, restaurant, etc.) paired with a grocery store with an indoor/outdoor market space for community - oriented commerce like a business incubator, farmers market, and/or space for a bizarre (12,000 — 20,000 sq. ft.). o Residential: Upper end luxury senior housing (Approximately 240 units) Rental Development: Average rent of $2.00 - $2.05 per sq. ft. Positive Attributes: o Proximity to a freeway o Public infrastructure has already been constructed o Good soils are found onsite for multi -family development o Population is expected to increase within the city o Good surrounding uses, such as the YMCA, bank, health clinic, and city hall o Lake Drive traffic numbers per day range from 17,000-19,000 o Parks and public outdoor space nearby; Great bike/walkability score o Great location o Willing city to identify development Negative Attributes: o Development fee structure in the City it too high Land acquisition price would be on the lower end, most likely would need to be free Public assistance would be required with any type of development on top of the land BUILDING COMMUNITIES. IT'S WHAT WE DO. ® info@ehlers-inc.com �, 1 (800) 552-1171 ® www.ehiers-inc.com