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Mr. Eric Zweber <br />WSB & Associates, Inc. <br />Selected Multifamily Housing Developments <br />December 19, 2017 <br />Page 31 <br />Table 16 lists selected multifamily housing developments in Navarre and from other Lake Min- <br />netonka area communities. Data comprises of both for sale and rental properties and includes <br />the number of units and bedrooms and pricing. The following points summarize the current <br />market for multifamily residential units in Navarre. <br />• The for -sale units range in size from 850 square feet to 4,600 square feet, while the for - <br />rent units range in size from 450 to 2,049 square feet. <br />• Pricing for the for -sale condominium units is at the luxury end as prices range from <br />$273,917 to over $3,500,000. Most of new condominium product is being developed in <br />Downtown Wayzata with prices starting at $500,000 with most product selling for over <br />$1,000,000. <br />• Pricing for the for -rent units ranges from $750 per month for a studio to $3,575 per <br />month for a two-bedroom unit. <br />• Besides The Mist on Lake Minnetonka which was built in 2007, all the other for -rent pro- <br />jects predate 2000. The for -sale units were all built after 2000. <br />MAXFIELD RESEARCH AND CONSULTING, LLC <br />TABLE 16 <br />SELECTED <br />MULTIFAMILY <br />UNITS <br />NAVARRE SURROUNDING AREA <br />Yr. <br />No. of <br />111111M <br />�- <br />Name <br />Type <br />Open <br />Units <br />Bedrooms <br />Min - Max <br />Min - Max <br />Avg. <br />The Landing <br />Condos <br />2017 <br />31 <br />2-3 BR <br />1,220 <br />- 4,600 <br />$825,000 <br />- $3,500,000 <br />$719 <br />815 Wayzata Blvd E; Wayzata <br />Meyer Place at Ferndale <br />Condos <br />2017 <br />21 <br />2-4BR <br />2,000 - 4,000 <br />$1,290,000 - $2,399,000 <br />$622 <br />105 Lake St E; Wayzata <br />The Regatta <br />Condos <br />2015 <br />59 <br />1-2BR <br />850 - 4,000 <br />$500,000 - $2,000,000 <br />$544 <br />801 Lake St E; Wayzata <br />Lakeview Lofts <br />Condos <br />2005 <br />32 <br />1-2BR <br />1,297 - <br />1,534 <br />$273,917 - <br />$380,202 <br />$230 <br />4100 Spring St; Spring Park <br />The Mist on Lake Minnetonka <br />Apartments <br />2007 <br />121 <br />1-2BR <br />1,260 <br />2,049 <br />N/A <br />$3,575 <br />N/A <br />4201 Sunset Dr; Spring Park <br />Minnetonka Edgewater <br />Apartments <br />1967 <br />82 <br />0-2BR <br />450 <br />- 1,078 <br />$875 <br />$1,450 <br />$1.64 <br />4177 Shoreline Dr; Spring Park <br />Bayview Apartments <br />Apartments <br />1969 <br />107 <br />0-3BR <br />500 <br />1,200 <br />$750 - <br />$1,500 <br />$1.33 <br />24001nterlachen Rd; Spring Park <br />Parkshore Apartments <br />Apartments <br />1984 <br />92 <br />1-2BR <br />643- <br />1,050 <br />N/A <br />N/A <br />N/A <br />4601 Shoreline Dr; Spring Park <br />Source: Maxfield Research & Consulting, LLC <br />MAXFIELD RESEARCH AND CONSULTING, LLC <br />