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■ ■ Summary of Market Findings-St. Anthony Redevelopment ■ Recommendations ■ Housing ■ • General-occupancy apartments, for-sale townhomes, and independent senior housing would ■ all be successful on the redevelopment site. Demand is greatest for general-occupancy rental and moderate price townhomes. We believe that due to the lack of quality sites for ■ general-occupancy rental housing in the market area (and the entire Metro Area), the site ■ would serve the greatest need if developed with general-occupancy apartments. ■ • We estimate that the market can support up to 330 for-sale townhome units. We recom- mend a project with a mix of both one-level and two-level units with attached garages. ■ • Based on the strong demand for independent senior housing in the area, and our analysis of ■ existing senior projects, we believe that the area can support between 230 to 280 units of ■ senior housing that offer few or no services (meals and limited services should not be in- cluded in the monthly fee). The project could be either rental or a cooperative. ■ Off c ■ • Because the redevelopment site is not located on a major freeway, the base of potential of- ■ fice tenants is reduced primarily to small to mid-size companies, particularly those that serve local residents and businesses. Larger companies typically draw employees from across the ■ Metro Area and prefer locations along major freeways, which have greater access and visi- bility. ■ Retail ■ • Recommend primarily service, specialty and convenience retail that would serve the sur- ■ rounding neighborhoods. The retail would have a primary draw area of approximately one mile. It will not compete with larger centers such as Rosedale, the Quarry, and Har Mar ar- ■ eas which have a critical mass of space and draw customers from a large area. We recom- mend that the retail should be developed in conjunction with housing on the Apache Mall ■ site. ■ • Existing retail and services should be incorporated within a reconfigured retail district on the site. Existing services and other retail businesses whose market position and focus is consis- tent with service and convenience retail will be important to retain. ■ • The current retail configuration on the Apache Mall site is not cohesive. Retail uses on the ■ site must be located in a manner that provides customers with convenient access and visibil- ■ ity. However, incorporating housing in close proximity and clustering the retail uses closer together will create a better synergy and will enhance revenue generation. ■ ■ ■ Page 6 ■ ■