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1 late 1988 or early 1989, which would not- be- a reasonable sea-- <br /> 2 son to -start construction on a third building; _ . <br /> 3 <br /> 4 looking at Building B for . early in 1989 ;. . <br /> 5 pointed to -the 73 unit Anthony James project as..a case where <br /> 6 they had burned -the previous building down. .in June, 1986 , and <br /> 7 although that had been a very. wet fall, had a Certificate of <br /> 8 -Occupancy on the project by December 1st; <br /> 9 - reported the partnership had acted as the prime contractor on <br /> 10 that - job and- used- Franklin Construction to oversee the. bidding . <br /> 11 process. The prime contractor had made all the contacts with <br /> 12 the various subs and trades on that job; <br /> 13 said it was most likely they would be doing the same on the <br /> 14 Coon Rapids project where they planned to put the contract <br /> 15 out for bid, try to -get - a fixed price, bonded contract and, <br /> 16 depending on how the figures came in, would either go with <br /> 17 the' fixed price or would have the partnership again act as <br /> 18 contractor under• a 'construction management -agreement; <br /> 19 indicated that had worked very successfully on the last two <br /> 20 projects Lang-Nelson had done; <br /> 21 said they had been very happy with Franklin and .had exper- • <br /> 22 ienced some substantial cost savings by following that <br /> 23 process. <br /> 24 Occupancy Market in St. Anthony <br /> 25 Mr. Brewer said he thought that Maxfield Research' s market <br /> 26 study figures about demand for senior rental might be -a little <br /> 27 "heavy" ; <br /> 28 <br /> 29 said Lang-Nelson- thinks 100 units.- of 55 and over would be <br /> 30 closer to what the market will bear; <br /> 31 indicated it might be hard when dealing with a lot of older <br /> 32 buildings and much lower .already existing in St. Anthony <br /> S3 rents to draw a comparison with new construction rents and <br /> 34 market demand; <br /> 35 perceived that type of market study couldn' t really tell <br /> 36 what the market for new property would actually. be; <br /> 37 pointed out that. the study had to take into account the fact <br /> 38 that alot. of seniors would be selling their homes and it ' <br /> 39 would be hard to predict- .how many would actually. be .ready to <br /> 40 move into a new type of housing; <br /> 6 <br />