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Example Concept Picture of
<br />Proposed Crossroad Pointe
<br />Development
<br />Picture of Development; Please provide us
<br />one picture of a building that you have
<br />developed that would be the closest to
<br />size, look, design, # of units, etc. to the one
<br />you propose to build at Crossroad Pointe.
<br />Name of Developer Dominium Global Real Estate Management INH
<br />History Founded in 1972 and second largest affordable apartment
<br />owner/manager in the country
<br />Location of Headquarters Minneapolis Waite Park
<br />Type of Development 100% Affordable Independent Senior Housing, 100% Section
<br />42
<br />80% Market Rate 20% Affordable Mixed-Use/Mixed-
<br />Income, development could include a gun club as a
<br />tenanat if requested by Council. Developer also
<br />looking at possibility of aquiring existing
<br />apartments adjacent to Crossroad Pointe
<br />Heartland Gun Club & Range and/or
<br />Apartments
<br />Exterior Characteristics 4 Stories with underground parking, Build with high quality
<br />materials, Pitched Roof, Exterior to be a mixture of Hardie
<br />Board & Brick and/or Stone, Well landscaped, Well lit
<br />3 Stories, but will to to 4 if Council allows it with
<br />underground parking.
<br />3 Stories
<br />Number of Units Proposed 160-216 216-266 150
<br />Approximate Unit Mix 45% one-bed/one bath at 800 sq.ft, 35% two-bed/two bath
<br />at 1100 sq.ft, 20% three-bed/two bath at 1300 sq.ft
<br />Expected Rents One-bed $930, Two-bed $1115, Three-bed $1284 Without TIF: 100% Market Rate, With TIF: 80%
<br />Market Rate & 20% Affordable
<br />Without TIF: 100% Market Rate, With TIF:
<br />80% Market Rate & 20% Affordable
<br />Income Threashold All units will fall under the 60% Area Median Income
<br />threshold
<br />If getting TIF, 20% of units fall under the % Median
<br />Income threshold
<br />If getting TIF, 20% of units fall under the
<br />% Median Income threashold
<br />Income Threashold 1 person income limit: $36,060, 2 person income limit:
<br />$41,220, 3 person income limit: $46,380, 4 person income
<br />limit: $51,480
<br />Site Amenities Community kitchen & clubroom, Exercise room, Grilling
<br />area, Salon, Library, Storage lockers, Card Room, Theater
<br />Room, Mail Kiosk, Package Room, Covered Parking - garages
<br />Proposed Common Area
<br />Amenities
<br />Party room, Demonstration kitchen, Private Dining Room,
<br />Card room, Salon/barber shop, Fitness center, Craft room,
<br />Vending area, Underground parking, Secured entrances,
<br />Beautiful landscaping, Picknic area with grills, Gazebos,
<br />Theater/media room
<br />Proposed Unit Amenities Open Floor plans, 9' ceilings, Balconies/Patios, Large
<br />Windows, Upgraded cabinets, Washer and dryer in unit,
<br />Dishwashers, Pantries, Kitchen islands, Walk-in closets,
<br />Shower doors, Upgraded light fixtures, Decorative accents,
<br />Cable access, Internet access
<br />Type of Financing Requested Housing TIF, Land Write Down, Waive Dedication Fees, Tax
<br />Credit Project, Issuance of Conduit Issue Revenue Bonds
<br />Requesting Housing TIF & land to be negotiated Requesting Housing TIF if qualify
<br />Land Use Site-Approval, Density: 50 to 60 units/acre, Conditional Use
<br />Permit, Rezoning - PUD, if required, Vacating the right-of-
<br />way at Greenfield Ave
<br />Anticipated Amound of Subdity
<br />Requested
<br />Developing Entire Site?Yes, would take all 4.25 acres Yes, all 4.25 acres plus looking at acquiriing
<br />adjacent properties for larger development, but
<br />would entertain Heartland Gun Club if that is the
<br />Council's desire
<br />Would purchase either the 1.28 acres site
<br />for Gun club only to be owned separate
<br />from any other development or purchase
<br />entire 4.25 acre site and the 2.08 acre
<br />parcel would be apartments in second
<br />phase.
<br />Would there be a mixed use
<br />retail component?
<br />No Yes, apartments plus retail specialtiy component.
<br />Looking at restaurants as potential tennants
<br />Yes, however, Gun Club would be the only
<br />retail component
<br />Does this development fit the
<br />Comp Plan?
<br />Yes Yes Yes
<br />Does this development fit the
<br />the Council's and the Stantec
<br />Report Vision?
<br />Potentially, Council is open to a Senior Housing Yes, Council has maintained that they would like a
<br />Mixed-Use destination concept at this location Yes, Council has mentioned they would like
<br />a market rate or no more than 20%
<br />affordable with mixed-use at this location
<br />Where does the developer have
<br />other products?
<br />Multiple States Mainly Twin Cities area Mainly Waite Park area with a few in Twin
<br />Cities suburbs
<br />What roles would the developer
<br />have in the project?
<br />They would serve as the developer, builder, and manager of
<br />the units
<br />Global Real Estate Management is the investor
<br />along with USFAAF, Jim O'Neil is the
<br />Financing/Accountant, Urban Works is the
<br />Architect, Krause Anderson is the builder
<br />INH is the developer and would need to
<br />find a builder
<br />How many units does the
<br />company current manage?
<br />25,000 units in 23 states
<br />How long does the company
<br />plan to keep the building(s)?
<br />Long-term ownership and manager Long-term 5-10 years Long-term
<br />Number of New Jobs Created Equivalent 5 full-time permanent on-site employees
<br />Ancitipated Total Sq.ft
<br />Estimated Assessed Tax Value
<br />Market Studies Completed and
<br />Provided?
<br />Yes Preliminary market study provided, full market
<br />study still needs to be completed Preliminary market study provided, full
<br />market study still needs to be completed
<br />Crossroad Pointe Developer Comparison Chart
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