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Item 08A <br />Page 5 of 26 <br />Rendering of west side yard, backing up to homes on O'Connell Drive. <br />6. Appearance (loss of trees, building architecture). <br />Staff Response: 78 trees will be removed. 4 trees will remain. 57 trees will be planted. <br />The architecture is intended to blend in with Bel Rae, and Gray Stone <br />Flats. Its design is subjective. It is the City Council's discretion if the <br />architecture is acceptable, or if any changes are required. <br />7. Property value impacts? <br />Staff Response: Property values are cyclical. For example, 5289 O'Connell Drive sold in <br />2013 (before Bel Rae) for $179,900, and sold again in 2018 (after Bel <br />Rae) for $260,000 (69% increase). It's a fair assumption that some <br />perspective buyers will not want to live next to an apartment building, <br />while others may not care. There are many apartment buildings in <br />Mounds View, and many that are adjacent to single-family homes. <br />Change in Median Sales Price from Prior Year (6-Month Average)" 16•Couny Twln Ulm Reglon <br />Mounds Vlew <br />+46x <br />+30x <br />+lox <br />+fox <br />■ <br />6x <br />-fox <br />-lox V11tviv <br />sox <br />1-2008 1-20M 1-2010 1-2011 1-2012 14MS 1-2M4 1-2015 1-2016 1-2M7 1-2018 1-2019 14WO 1-2021 1-2022 <br />Minneapolis Area Realtors; Local Market Update -October 2022; Mounds View. <br />Analysis: <br />Analysis is divided into four parts, for each approval. <br />1 f1C 1V1UU11US ...... ..,1UF1 <br />A Thriving Desirable Communit <br />