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FINAL DEVELOPMENT PLAN for SILVER LAKE VILLAGE APARTMENTS <br /> St. Anthony Village, Minnesota <br /> May 24, 2004 <br /> PROJECT NARRATIVE <br /> Developer <br /> The Developer for this project is Dominium Development and Acquisition, LLC, a firm specializing in <br /> the development of multi-family rental housing projects. <br /> Introduction <br /> The rental housing project site is part of an overall redevelopment area on the old Apache Plaza site <br /> now named Silver Lake Village. The parcel size for this housing site is approximately seven acres and <br /> is bound by a new Wal-Mart development on the east, Baker's Square and Don's Car Wash on the <br /> west, an extended 38th Avenue on the north and the existing railroad property on the south. <br /> The City of St. Anthony Village's future vision suggested that a mixed-use development would be most <br /> appropriate for this redevelopment area. Those uses would be office, retail, restaurant, and housing. <br /> This application for Final Development Plan approval is.for the market rate and affordable rental <br /> portion of the overall housing component to this new mixed-use redevelopment. <br /> Proposed Rental Housing Unit Make Up <br /> Previously, the St. Anthony Village City Council approved the PUD for the entire redevelopment <br /> project now called Silver Lake Village. The site has been cleared of existing structures and some of <br /> the new commercial construction has commenced. <br /> This proposal is for the development of an up-scale multi-family general occupancy and senior rental <br /> complex, both market rate and affordable, which will include 261 apartment units. There will be a <br /> mixture of studio, one, two and three bedroom units of the traditional "flat style"apartments plus a few <br /> two-level town home units at grade and four loft style apartments at the 4'�h level. There will be a <br /> significant variety of floor plan layouts of the following unit types: <br /> General Occupancy Rental.Units Quantity <br /> • Studios 8 <br /> • Guest Suite 1 <br /> • One Bedroom Flats 69 <br /> • Two bedroom Flats 84 <br /> • Three Bedroom 11 <br /> o Two Bedroom Two Level 5 <br /> • Two Bedroom with loft 4 <br /> Total General Occupancy Rental Units 182 <br /> Senior Rental Units <br /> • Studios 2 <br /> • One bedroom 46 <br /> • Two bedroom 31 <br /> Total Senior Rental Units 79 <br />