The first project, Applewood Pointe of Roseville Senior Cooperative, has sold about two-thirds of its 95 units. Construction began in August, and the project, located one block east of Snelling and two blocks south of County Road C2 in Roseville, MN, is expected to open July 2004.
The City of Roseville, the metro area faith community and United Properties, a Bloomington, MN-based commercial real estate firm, formed a partnership to bring much-needed, moderately priced senior housing to that city.
"The city is committed to providing high-quality, affordable housing options to retiring community members, and we support its vision," said Brian Carey, VP of United Properties Development.
The senior cooperative is the first phase of Applewood Pointe of Roseville, a 13-acre residential community. A year ago, United's plans were chosen from 10 plans submitted to the Roseville City Council.
Two other similar-sized projects are in the reservation phase in Maple Grove and Woodbury, and each has won municipal approval, according to United Properties spokeswoman.
Applewood Pointe of Maple Grove located on a five-acre site one-half mile east of Interstate 494 and Bass Lake Road at Quinwood Lane North. Plans are for 85 units that will sell for $125,000 to $190,000 and range in size from 940 sf to 1,250 sf.
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