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-3 - facility you're providing for them, is a living facility and at the same • time freeing up for further tax.base for younger population to move into the other. Briefly, that is the type of program we will be talking to you about. These are the people that will be presenting it to you and I can just say that they are a group that is experienced, has first-hand knowledge of dealing with this. Rather than my taking any more time, so that we don't run over the 30 minutes, I turn it to Tony. Tony Vavoulis alai nc y%u, John. What I would like to do is to get into a little more detail of the type of project we're talking about here and the entire scope of it, and also the approach we're taking on this project. In our initial.review of the St. Anthony/Northeast area, we saw several characteristics. Basically it's a very stable area, it is in good condition, it's well maintained and like several other areas in the City they have a.fierce devotion to their locale and want to maintain residence in that area. We also noticed that there are some basic housing needs in the area. The. .location that is being offered in the redevelopment package, in reviewing -it, it also has some good character- istics. It is very well located as the community of St. Anthony is. It has good access to the overall metropolitan area as well as within it, the various commercial aspects of the strip there, the Kenzie Terrace area strip there. In conclusion, it's a good area for development. In looking at the number of units we are proposing, it's 400-425, as broken down in our proposal. That, at first blush, looking at it is an • awful lot of units for any proposal, any area to absorb, no matter what it's characteristics. What we feel has to be done in this type of proposal, it has to be broken down into several different market groups, as well as staging it over a period of time. Our recent experience over at Lakeshore Drive is a new group that a number of developers are now looking at. It's a market rate elderly, which, up until recently, when elderly housing was talked about, it was almost exclusively subsidized housing. That is another group that is also being directed in our development proposal, but that is in phase 2. And then there is, I guess the more broad group, which is just general market rate housing that there be no particular restrictions on age. We would try to design it that it would be attractive to all ages. We do not expect this development to be heavily family oriented. The housing needs of the community in regard to that would be taken care of with people moving from their current.place of residence into this development, as was our experience of the Richfield project. About 75% of the people moved into that project within a 2 mile radius of that site and over 85% of those.people that moved into the project were homeowners. So, we've also taken that one.further in looking at who they sold their home to almost exclusively was first time home buyers, young families. The group that many housing efforts are looking at for supplementing their com- munity. And, as St. Anthony has experienced, Richfield has experienced, and really the overall community of St. Paul/Minneapolis is having a problem with is the population is reducing, the individuals per household is going down. That, in simple.observation, is the community is getting • older and alternatives for that older population need to be developed.