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August 18, 2020 <br />Page 3 <br /> <br />ANALYSIS <br />Background. The applicant is proposing to construct a three-story, 38-unit apartment <br />building upon a vacant, 0.85-acre site located south of 38th Avenue Northeast and east of <br />Stinson Boulevard. Of the 38 proposed units, 30 are to be one-bedroom and 8 are to be <br />two-bedroom. <br />According to the applicant, the apartment units are intended to target renters who wish to <br />live in “new construction” but cannot afford rents associated with typical luxury <br />apartments. In this regard, the target resident profile for the proposed apartment building <br />project is an annual household income starting in the low to mid $40,000 range. <br />The applicant has indicated that the apartment building will incorporate several features <br />which are common in luxury apartment developments. These features include the <br />following: <br />• Quality exterior finishes (cement board and brick veneer siding) <br />• Quality interior fixtures, flooring, cabinetry and countertops (solid surface) <br />• Ceilings which measure 9 feet in height <br />• In-unit washers and dryers <br /> <br />