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<br />VI. DEVELOPMENT FEATURES <br /> <br />1. Please describe the anticipated development. <br /> Residential <br /> Mixed-use (ex: housing and commercial) <br /> Commercial <br /> Industrial <br /> Green space (i.e., public parks, athletic fields etc.) <br /> Other <br /> <br />2. Provide a brief, general description (i.e., executive summary) of the planned development <br />and project goals. <br /> <br />Interstate is proposing a 76-unit, 4-story, residential multi-family building on the Property. The building’s first floor will be dedicated to covered parking and the building’s lobby and leasing office and fitness center - Floors 2 – 4 will be residential dwelling units. Total building square footage is estimated at 92,000 square feet. The 76 residential units will be broken out as follows; (i) 47 one-bedroom units, (ii) 24 two-bedroom units, (iii) 5 three-bedroom units. Unit square footages will range from 525 square feet to 1,362 square feet. In addition to the first floor covered parking, the Property will provide surface parking (estimated 124 stalls total, 1.63/unit). Interstate’s goal is to create workforce attainable housing without the utilization of TIF, tax credits, or subsidy from government and nongovernment agencies. Interstate is currently targeting rents ranging <br />from $1,500/month for a 1-bedroom unit and $2,750/month for a 3-bedroom unit. <br /> <br />3. Hennepin County is committed to protecting the environment and conserving resources for <br />future generations. Additionally, climate change has been identified as one of the most <br />pressing challenges the county faces because of its significant environmental, societal, and <br />economic impacts (link for more information: www.hennepin.us/your-government/projects-initiatives/climate-action). The county supports initiatives and sustainable practices that offer effective ways to respond to climate change. In particular, innovative approaches beyond typical building components (e.g., above and beyond LED lighting, high efficiency appliances, etc.) and required minimum site features (e.g., standard stormwater management features) are of interest. Describe if and how this project will incorporate sustainable activities and features above and beyond typical site standards in the project design, construction, operation, and/or cleanup remedy. Some examples of innovative approaches include but are not limited to the following: extensive structural deconstruction for reuse of material on or offsite, creative onsite management of contaminated media to avoid trucking to distant landfills, onsite construction or use of renewable energy, net-zero building