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Rosemary Place Proiect Narrative Summit Management, the Applicant, is a renowned property management and development firm that owns and operates several properties throughout the state of Minnesota. With over 30 years of experience developing multi-family properties, Summit Management has a proven track record in building and professionally managing high quality housing. Summit serves thousands of residents annually, and prides itself on providing exceptional management services and outstanding properties and amenities. Summit Management is proud to be a current,active member of the City of Hugo through its Hugo Estates Community and looks forward to participating in the growth of the City through the new Rosemary Place development. The proposed Rosemary Place project will bring in a vibrant multi-family presence, consisting of a state of the art 90-unit, three story apartment building. The proposed location is currently a vacant, commercially zoned lot. Summit Management plans to build 90 multi-family units at a density of 10 units per buildable acre (see Site Plan, attached as Exhibit A for notes and calculations). The Applicant would like to note that it does have a possible commercial PUD lot remaining on the East side of the property, which could be used if the EDA is seeking additional commercial development. Otherwise,the current planned use for that lot is extra land for a resident pet walk and/or walking trail. The building will be designed similarly to Summit Management's Arbor Ridge Luxury Apartments in Forest Lake (see Exhibit B). The exterior materials of the apartment building will be a mixture of brick, steel siding, trim and window shutters, with decks and screening incorporated around the entire building. The colors will consist of earth tones that complement the palette of the surrounding neighborhood. Some of the proposed uses and amenities of the 90-unit apartment building include the following: • Spacious, bright apartments • Full kitchens with all appliances in every unit • Washer and dryer in every unit • Maintenance of apartments, common spaces and all appliances • High speed internet • Utilities including gas, electric, water, waste and recycling • Individual climate control in every apartment • Community Room • Exercise Room • Outdoor patio with grills and lounge space • Outdoor fitness area Summit Management looks forward to bringing this project to the City of Hugo and fulfilling its continued commitment to providing outstanding properties and amenities for its residents. Page 1 of 6