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Mr. Jim Waters <br />Quest Development Inc July 24 2013 <br />DEMOGRAPHIC HIGHLIGHTS <br />The subject property is located in the St. Anthony, MN. St. Anthony is a "first- ring" northern <br />suburb of Minneapolis. We expect that the primary market area for apartments at the proposed <br />site would include St. Anthony along with far northeast Minneapolis (zip code 55418), New <br />Brighton, Fridley, Columbia Heights and Hilltop, as depicted on the map below. A summary of <br />the market area's demographic composition and that of the seven -county Twin Cities Metro Area <br />is provided on the following pages. <br />St. Anthony, MN Market Area <br />• The St. Anthony market area had an estimated 2012 population of 97,603 residents <br />according to ESRI Business Information Solutions, a nationally recognized econometric <br />forecasting firm. <br />• The median household income for the St. Anthony market area was estimated to be <br />$51,088 in 2012, compared to $61,175 for the Twin Cities metro area as a whole. <br />• According to ESRI estimates, approximately 19% of households in the St. Anthony <br />market area earn more than $100,000 /year, compared to 27% region wide. <br />• The median home value was estimated at $167,711 in the St. Anthony market area, <br />compared to $194,499 for the Twin Cities Metro Area as a whole. <br />• The St. Anthony market area resident base is slightly older compared to the balance of <br />the region, with a median age of 38. 1, compared to 36.2 for the region. <br />,v.wyucuc r uvisors Page 8 <br />