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3-27-1997 3=22PM FROM MSP REAL ESTATE. INC. 612 336 4555 E'. 'I r <br /> 411 <br /> PROJECT DESCRIPTION <br /> Silver Lake Commons Apartments is being proposed on the property at the Northwest corner of <br /> County Road I and Highway 10. The property is conveniently located close to shopping centers, <br /> support services, the library, a city park, and public transportation. <br /> The property will be comprised of 28 brand new three- and four-bedroom townhomes in four <br /> two-story clusters. The property will also contain 40 totally rehabilitated one- and two-bedroom <br /> apartments in two three-story buildings. <br /> The two separate properties will be unified into one property with a shared entryway, single <br /> professional management company, and common design elements. We have designed this <br /> property to maximize greenspace and operate as one apartment community. <br /> The combined site is in excess of 4.5 Acres, and will have its main entryway and signage on <br /> Highway 10. We have designed a generous greenspace and play area protected from Highway <br /> 10 by three building clusters. The site will also contain a management/leasing office to allow <br /> for on-site management The old garages of the existing apartment complex will be demolished, <br /> 411 and new garages will be built to allow for more efficient traffic patterns and to provide additional <br /> greenspace. <br /> The 28 new townhomes will contain 26 three-bedroom units and two four-bedroom units. Each <br /> townhome will have an attached single car garage, washer/dryer hook-ups, 1% baths, large eat-in <br /> kitchen, gas-fired, forced-air furnace, and a full compliment of appliances including dishwasher, <br /> disposal, refrigerator and range. The three-bedroom townhomes are generously sized at 1,320 <br /> sq. ft and the four-bedroom townhomes are 1,470 sq. ft. Each townhome is two-stories, and <br /> the buildings will be clustered in groups of six and eight units. <br /> The 40 totally rehabilitated apartment units will contain 16 one-bedroom units and 24 two- <br /> bedroom units. Our rehabilitation plan is to substantially change the character of these apartment <br /> buildings so they look and feel brand new. To accomplish this we plan to remove the mansard <br /> roof system, and replace them with more attractive hip roofs. We plan to retain the bricks and <br /> replace the wood siding with low maintenance vinyl. All of the windows will also be replaced, <br /> with the result being that the apartments will have an all new look from the outside. Our plan <br /> is to use similar colors on both the townhomeand apartment exteriors, so the perception will be <br /> that this is one property. We plan to demolish the existing garages, and build 40 new and re- <br /> configured garages to make traffic flow more efficient, provide each apartment with its own <br /> garage, and improve the overall aesthetics of the property. We will also re-configure the parking <br /> areas to add more greenspace. in front of the apartments. The apartment interiors will also be <br /> totally renovated so residents will feel as though they are living in new units. We will replace <br /> • carpets,vinyl, kitchen cabinets, counters, appliances, air conditioners, light fixtures, furnaces and <br /> water heaters. The result will be a property that looks and feels like new. <br />