09-19-2016 Planning Commission Packet

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. � Maxwell Bay - Res�dence 3222 North Shore Drive BohLand Development Orono is a sought after community with many calling it home. For many, 'home' may take on o different meaning as our baby boomer market wants to continue to reside in their community while changing their lifestyle to up-scale maintenance free living. At BohLand Development, we have led the mcarket to brin this lifestyle choice to the western communities - focusing primar�ly on the lake communit�. Luxury condominium and townhome style living is one of the most sought after lifesty�e choices for our current neighbors. Almost all of our "la�Ce buyers" live wif�in a 3-5 mile radius and call Lake Minnetonka their home. This market is not short term, demographics prove that the demand for maintenance-free fiving will be a primary market for many years with homeowners wanting to stay in their home-town. It is o rare opportunity to find a property that wil) allow for a multi-family use and fits into a neighborhood with a similar use. In this case, we would replace a marina with a more passive and conforming residential use. These homes would have significant less impact to the neighbors, substantially improving the water quality into Lake Minnetonka, have ar�hitectura) design that wil) create beautiful water front properties, and offer an economic benefit to the City of Orono. The suggested clensity may be a benefit to the City of Orono to meet recommendations by fihe Metropolitan Council. Maxwell Bay Residence has been carefully planned to include twenty-two condominiums and seven Townhome style residences while conforming to the limitations the site has to offer. The natural topographical chonge allows for a �stepping clown" of the homes while still offering (a�Ce views �rom many of the owners accompanied by a large green open space along the shores of Maxwell Bay. A new lakeside community clubhouse structure for residents, and dn on-site storm water retention pond and improved la�Cefront. With the experience and success in developing the Regatta Residences and Landing Hotel and Residences at the Prornenade in Wayzata, BohLand Deveiopment will be the developer/builder for the Maxweff Bay Residences. Many of the same Regatta team members will continue on with this project ensuring a well-coordinated completion and long- term success of this project. Our p�an is to submit on app�ication to t{�e City of Orono for review and receive approva�s to begin construction spring/summer 2(�17 with comp�etion and Resident move-in occurring between May through and September 2018. Thank you for considering Maxwell Bay Residences as an exciting part vf Orono's community as d place to call home. We belreve Maxwell Bay Residence will become one of t�e premier developments in western metro area and the developers of the nergh�orhood wi11 ensure t�at rt wrll be finished wel1. The community deserves something thrs special - Maxwel� bay Resrdences. MAXWELL_ BAY NARRATIVE gQ � � , , , +, RESIDEN� ES Development, Inc.