Agenda - Parks and Recreation Commission - 03/08/2001

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SENIOR HOIJSING Across Dysprosium Street fi*om the recently constructed senior building we propose to bring to the City of Ramsey 85 units of cooperative sen/or housing. P,.EALII,?E Inc. has over 20 years of experience working exclusively with older active adults and developing housing throughout the Midwest. Cooperative housing means the ownership mad operation of a housing development is by those who live in it. It is a not for-profit cooperative corporation with specially designed articles of incorporation and by laws. REALIFE typically has an 80% to 100% presate prior to the start of' construction. Just a few Minnesota cities that have an REALIFE Cooperative are New Ulm, Mankato, St. Peter, Rochester, Faribault, Bumsville, Brooklyn Park, Bloomington, and Mounds View. EIGHT UNIT TOWN HOUSE BUILDINGS These are affbrdable two bedroom town homes with attached double car garages. 'Units would sell in the range orS110,000 to $130,000. Occupants a~e typically first time homeowners who are young, single or newly married. Owners are given the opportunity to gain equity i'n ownership as opposed to paying rent. These traits have a very, low ratio of cl~ildren per unit. An Association will be created to maintain all exterior buildings, landscaping and grounds. STANDARD SING'LE FAMILY The single-family homes will be adjacent to and compliment the existing single-family homes in the neighborhood. It is expected that these homes w/Il start in price range orS180,000 mad may be as high as $300,000. The concept plan as presented shows 308 units on 86.6 acres or a gross density of 3.55 units per acre. Taking out the existing wetlands and open space, the net density is 5.0 units per acre. We look tbrward to the review of our plan by the Planning Commission and will carefully consider your comments when preparing the preliminary Planned Unit Development exhibits.