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<br /> Beard Group, Inc. Page 7 <br /> <br />Apartment Mix: <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Apartment Parking: <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Current Zoning: B-3 Highway Business/Mixed Use PUD <br /> <br />Comp Plan Designation: Mixed-Use PUD <br /> <br />Land Area: 4.25 acres <br /> <br />Phase 2: Phase 2 concept plans are presented onl y for informational <br />purposes. <br /> <br />PROJECT ANALYSIS <br /> <br /> Vacancy rates have plummeted in the Twin Cities, currently at 2.7% in <br />the 1st quarter of 2015, according to Marquette Advisor's 1st Quarter <br />2015 Apartment Trends publication . Specifically, the Mounds View <br />area reports a 2.0 % vacancy rate. Looking categorically at the Mounds <br />View market, vacancy rates are as follows: <br />One bedroom 1.8% <br />Two bedroom 2.2% <br />Two bedrooms + den 0.0% <br />TOTAL VACANCY 2.0% <br /> <br /> The Project’s prominent location adjacent to Mounds View’s commercial <br />corridor is a highly desirable neighborhood with walk-able neighborhood <br />schools, transit, parks, restaurants, grocery stores, boutique shops, and multiple <br />cultural attractions. The project is just 9 miles from Downtown Minneapolis and <br />Unit Type # RSF <br />Studios 18 600 <br />1-Bed 71 750 <br />1-Bed + Den 1 850 <br />2-Bed 29 1,175 <br />Total Unit 119 832 <br /> Stalls Per Unit Per Bed-Rm <br />Underground 125 <br /> <br /> <br />Garage 21 <br /> <br /> <br />Surface-Lot 19 <br /> <br /> <br />Surface-Units 19 <br /> <br /> <br />Total Unit 184 1.55 1.24