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State Highway 10 bisects the subject development/redevelopment area and leads directly to Interstate 35W to the southeast and to Highways 65 and 47 to the northwest. (Northtown Mall, a major regional retail center and many other community and neighborhoods retail centers, are located at the intersection of Highway 10 and Highway 47, or University Avenue.) Highway 10 intersects both County Road I and Silver Lake Road with signaled intersections. This highway is the major thoroughfare for the city of Mounds View with daily traffic counts exceeding 40,000. The southern boundary of the redevelopment area is County Road I. County Road I bisects the city of Mounds View running east-west and is another major roadway through the city, which leads directly to Interstate 35W. To the south of the subject property and across County Road I is a newer townhome development and Silver View Park, which offers such amenities as walking/biking trails, a ballpark and soccer fields. Silver Lake Road is also a major roadway running north-south beginning at Highway 10 traversing Mounds View, New Brighton, St. Anthony and leading directly into Minneapolis. Silver Lake Road acts as the northwest boundary of the subject area. To the west of the subject area and across from Silver Lake Road is a multifamily apartment complex, similar in condition and style to the apartment development situated along Highway 10 within the subject area. There are also some twinhomes and other residential parcels surrounding that apartment complex. There is no natural boundary on the northeastern side of the subject area. This boundary runs parallel to Highway 10 and is the rear border of each of the parcels fronting the highway to the north, plus the four residential parcels along Sunnyside Avenue. The surrounding area of the • northeast boundary is primarily residential. The entire development/redevelopment area is estimated to have a total area of approximately 30 acres, not including the roadways. The area is divided into 24 parcels, 14 of which are currently improved. The unimproved area totals 13.65 acres. Market Overview Turning towards the socioeconomic issues that effect the redevelopment of this portion Highway 10 corridor, we have gathered data from Equifax National Decision Systems, an on-line service which compiles it's statistical data from the 1990 Census. In looking at past, present and projected population and income data for those persons residing within a 1-, 3- and 5-mile radius of the subject area, we have determined the surrounding area is typical of most suburban communities in the Twin Cities area. The averages for the data compiled are very consistent between the 1-, 3- and 5-mile areas (with the exception, obviously, of total population). The 1-mile radius population was 10,457 in 1990 and estimated at 10,755 in 1996, indicating a 2.8% increase. The area appreciated a 3.1% growth from 1980 to 1990 and the study projects that the population will grow slightly by year 2000, as well. While there has been some increase in the number of households over the past ten to fifteen years, this number is believed to have stabilized. Looking further out into the surrounding community, the stabilized population is very similar to that of the 1-mile radius area. • The report indicates the surrounding community is primarily made up of white high school graduates in their mid-thirties earning an average of$20,175 per capita, or $52,638 per family.