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MINUTES OF THE <br /> ORONO PLANNING COMMISSION <br /> Tuesday,March 15,2021 <br /> 6:00 o'clock p.m. <br /> Kirchner clarified they do not yet know if the 10%recreational area is met. <br /> Barnhart replied they do not know. <br /> Dale Richardson purchased the property in 2015, did the first development in 2017 and the road <br /> construction put a halt on the second building project. On the first level there is an exercise room, and the <br /> community room will be on the top deck area, also. It will be a rental for parties or a guest suite;he noted <br /> there is a little more footage than what they are explaining. They would fill in the back area back in so it <br /> will butt up to the original grade that it was at and will actually be lower than what the original was as it <br /> was physically cutout to accommodate walkouts because that site was originally a hill. He noted they are <br /> just trying to make it work with what they have and this is the minimum number that makes it financially <br /> feasible to do the project. The green area from the corner of the building around to the back will be a nice <br /> level area and they will use the stone they have to do retaining walls around the property. <br /> Gettman said for marketing, what ranges do they have for the different sized units,the 860 all the way up <br /> to 2,300. <br /> Mr. Richardson said the 2,300 will be a three-bedroom unit and will be a market rate for local families <br /> living on the lake who want to keep a presence in the area but do not want to maintain a home. It will be a <br /> nicer unit,post-tension concrete construction. <br /> Gettman asked if it will be$200,000-$300,000 or$400,000-$600,000 range. <br /> Mr. Richardson said bare bones construction on post-tension,the cheapest they can do is about$250,000 a <br /> unit. He noted they are not selling but renting these and to keep the style of the building that compact,the <br /> price goes way up. <br /> Gettman clarified this is an apartment and not condos to sell. <br /> Mr. Richardson said that is right, it will be built like a condo, everyone will have their own heat and air <br /> conditioning unit and water heater. It will be set up like a condo—style system and metered individually, <br /> but will be a market rate apartment. <br /> Gettman asked what rates they are anticipating the different sizes. <br /> Mr. Richardson noted they have not fully determined that yet but will be comparable to a project off 394 <br /> and 494—they range from$2,800/unit for the three bedrooms and charge for parking on top of that. <br /> Gellman said the one bedrooms would be what. <br /> Mr. Richardson said one bedrooms would be around$1,500-$1,800. <br /> Gettman asked with respect to the recreation that it will be geared more towards families. <br /> Mr. Richardson said it will be open to anybody; if someone is getting divorced and wants to live in Orono <br /> next to the schools, or if someone is moving out of their home, anyone that wants to live there. It is not 55 <br /> or older,but they are keeping it to the market rate. <br /> Page 28 of 34 <br />