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EXECUTIVE SUMMARY <br /> Demand Summary <br /> The following table summarizes our total demand calculations for the amount of each use that <br /> could be captured by Downtown Hugo during the remainder of this decade and through 2015. <br /> Detailed recommendations, including timing and appropriate lease rates and pricing are found in <br /> the Conclusions and Recommendations section near the end of the report. <br /> SUMMARY OF DEMAND <br /> DOWNTOWN HUGO <br /> DECEMBER 2005 <br /> Type of Use 1 1 1 1 1 1 I <br /> Housing <br /> General-Occupancy <br /> Single-family For-Sale Units 19 to 39 38 to 75 <br /> Townhome For-Sale Units 49 to 58 176 to 207 <br /> Condominium For-Sale Units 0 to 0 47 to 70 <br /> Rental Units 14 to 17 25 to 32 <br /> Age-Restricted(Senior) <br /> Adult/Few Service For-Sale Units 10 74 <br /> Adult/Few Service Rental Units 11 10 <br /> Congregate Units 29 40 <br /> Assisted Living Units 16 20 <br /> Memory Care Units 8 10 <br /> Total Housing Supportable 156 to 188 440 to 538 <br /> Retail <br /> Neighborhood Retail(sq.ft.) 26,900 71,100 <br /> Specialty Retail(sq. ft.) 13,600 33,900 <br /> Total Retail Supportable(sq.ft. 40,500 105,000 <br /> Office Space Su ortable s .ft. 13,900 to 17,000 17,000 to 20,775 <br /> Source: Maxfield Research Inc. <br /> Housing Market Recommendations <br /> We recommend a ten-year phased approach that focuses on mid-density housing in the first <br /> five years and gradually moves to higher-density housing in the second five year period. <br /> Phase I—2005 to 2010 <br /> Single-Family Homes and Detached Townhomes—We recommend building 20 to 40 new <br /> single-family or detached townhome units in Downtown in the first phase. Pricing for the <br /> single-family homes, which typically range is size from 2,000 to 4,000 square feet, should <br /> MAXFIELD RESEARCH INC. 3 <br />