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7803 Glenroy Road, Suite 200 | Bloomington, MN 55439 |952.288.2000 | Fax: 952.288.2001 | www.DoranCompanies.com July 22, 2019 RE: PUD Amendment Project Narrative – Silver Lake Village Development – St. Anthony, MN Doran Companies has under contract to purchase a 13-acre site at 3800 Silver Lake Rd NE in the City of St. Anthony, for an exciting new multifamily development at Silver Lake Village (the “Project”). The lots current use is a vacant Walmart and Salo Park are currently zoned as a PUD and we anticipate going through a Preliminary and Final PUD Amendment process. We do not expect any physical changes to Salo Park. Doran Companies takes pride in the quality of multifamily housing projects that it brings to the community. The community areas and amenities are regularly second to none. This Project will be no different in either aspect. State-of-the-art amenities will include a clubhouse with a full-scale fitness center, game room, business center, entertainment suites, outdoor pools, spas, lounge chairs, community grills and gathering spaces. All interior unit finishes will be first class with quality fixtures, flooring, finishes and countertops that are synonymous with the quality of multifamily housing that Doran Companies designs, develops and constructs. In keeping with the Comprehensive Plan’s maximum prescribed density of 38 du/acre for this area, which would yield a maximum unit count of 494 units, the Project is expected to include approximately 460 apartment units constructed in two 230-unit phases. The Project will have approximately 8% studios, 3% alcoves, 52% one bedrooms, 26% two bedrooms, and 11% three-bedroom units. The Project will be four stories of wood construction over one story of structured parking which will be above grade to avoid conflict with the high water thresholds of Salo Park. The Project site is situated along the Eastern side of Silver Lake Rd NE and bordered to the West by Salo Park, the Soo Line Railway to the South, and Silver Lake Village Shopping Center to the North. Currently occupied by a vacant Walmart, the surrounding area has some of the City’s most popular shopping destinations. The site is also easily accessible being just 2 miles off Interstate 35W and about 6 miles North of downtown Minneapolis. Stormwater management for the new site will follow the current requirements and will utilize a drainage system in connection with the Salo Park Stormwater Pond adjacent to the site. We look forward to working with the City to further this Preliminary Development Plan submittal. Sincerely, Evan Doran Senior Director, Development