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Mr. Roger Fink, Senior Vice President and Principal with Trident Development, introduced the <br />company and its experience developing and operating senior housing. He explained that the <br />company has been operating for about 20 years and currently develops and manages nearly 2,500 <br />senior living units across Minnesota, primarily focusing on assisted living, memory care, and <br />market-rate senior apartments. Trident has worked with many communities across the state and <br />has completed several projects using tax increment financing (TIF). <br /> <br />Mr. Fink presented the proposed site plan for the Ramsey project. The development would include <br />three components: an 84-unit independent living building facing Sunwood Drive, a 24-unit single- <br />story memory care building, and a two-story assisted living building connected to the memory care <br />facility. Access to the site would be provided by both Sunwood Drive and Veterans Drive. The <br />property would likely be subdivided into three lots, with the assisted living and memory care <br />portion forming the tax increment district. <br /> <br />Mr. Fink also highlighted Trident’s partnership with Lifespark Senior Living, a Minnesota-based <br />management company that operates their facilities. Lifespark provides comprehensive senior care <br />services, including on-site physicians and a program focused on complete senior health, allowing <br />many residents to receive medical care within the facility rather than traveling to outside clinics or <br />hospitals. He noted that existing senior living facilities in the area are largely full, suggesting an <br />unmet need for additional senior housing in Ramsey. A market study conducted by Viewpoint <br />Consulting also indicated strong future demand, driven by projected growth in the senior <br />population over the next decade. He added that the development would designate 20 percent of <br />assisted living and memory care units as affordable housing for residents with lower incomes. <br /> <br />Finally, Mr. Fink stated that the development team understands the importance of Ramsey’s core <br />district design standards and is prepared to meet or exceed those requirements. The project is being <br />considered in Ramsey due to both the identified market demand and the company’s existing <br />relationships with local development partners. <br /> <br />Mr. Andy Brummer explained the current senior housing options in Ramsey and how the proposed <br />project would compare with them. He noted that there are three existing senior housing facilities <br />in the area. Stoney River and Suite Living both provide assisted living and memory care services, <br />while Affinity is a 55-plus independent living apartment building that does not offer supportive <br />services. <br /> <br />Mr. Brummer said the proposed development would differ by offering a continuum-of-care <br />campus. The project would include independent living, assisted living, and memory care on the <br />same site. This model allows residents to move through different levels of care as their needs <br />change. For example, seniors may initially move into independent living to reduce responsibilities <br />such as home maintenance and yard work, then transition to assisted living if they need help with <br />daily activities like meals or medication management, and eventually move to memory care if <br />cognitive support becomes necessary. <br /> <br />Mr. Fink explained that the proposed development follows a “campus concept” that Trident has <br />implemented in several other communities, including North St. Paul and Winona. In this model, <br />the independent living building often serves as a feeder for the assisted living facility. <br />City Council Work Session / March 10, 2026 <br />Page 2 of 21 <br />