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NOV -03 -98 05:34 PM ZIMMERMAN /VOLK ASSOC INC 908 735 4751 P.05 <br />City of Lino Lakes <br />November 3, 1998 <br />III. Target Market Analysis <br />For the defined draw area(s), target market groups with the potential <br />to buy or rent new housing within the proposed town center will be <br />quantified as follows: <br />• Current household classification by market group within the draw <br />area(s); <br />• Qualification and filtering of the draw area households by relevant <br />criteria including, among others, mobility and migration factors, <br />and the propensity to purchase or lease new housing units; and <br />• Determination of those target market households within the draw <br />area(s) with a propensity to move to the site. <br />IV. Conclusions and Recommendations <br />Market data and evaluations, target market data and analysis, as well <br />as site location, existing conditions, constraints and opportunities, and <br />the objectives of the client will be correlated to determine the optimum <br />market position. Recommendations for each housing type will <br />include: <br />• Optimum density and/or lot size; <br />• Optimum building configuration; <br />• Unit size ranges; <br />• Market -entry base prices; <br />• Market -entry base rents; and <br />• Absorption forecasts. <br />Absorption forecasts will be based on an assessment of the <br />optimum market position of each housing type within the <br />context of the sales or leasing performance of relevant <br />properties in the market area and ZIMMERMAN /VOLK <br />ASSOCIATES' understanding of the market dynamics of the <br />New Urbanism. <br />In addition to the optimum residential mix, the conclusions will also <br />provide: <br />• Profiles of target buyers and renters; <br />• Retail implications; and <br />• Phasing strategies. <br />Page 4 <br />LIMMP.RMI.N /VOt K Assu<;I, i KS, lNc <br />