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CURRENT USE,� North Shore Marina <br /> Nort� Shore Marina currently provides common marina and docking servi�es to 86 slip customers and 96 dry stack customers throughout the summer between the hours of 8:00 <br /> AM to 8:00 PM. In the winter, the grovel par�Cing lot serves as outdoor shrink-wrap sfiorage for 75 boats on the gravel pflr�Cing Iot, 9fa dry stack boats on racks ond various pieces <br /> of heavy equipment. <br /> Servicing over 160 custamers and multiple guests. The use creates vehicle traffic throughout peak boatir�g sevson and truck and trailer traffic throughout the spring, fall and <br /> winter. The current use provides a service exclusive to the renters af the slips and does not allow public use of the launch ramp. <br /> There is some noise impact primarily from truck use and seasona) more activity due to removal and storage of 6oats. <br /> Site, Builcling & Equipment: <br /> • 3.97 acre site • Dry stack rack(s) - 3� feet in height, used for year round covered boat storage <br /> • The gravel parking lot has 75 parking spots. • Out Builclings - misc. Storage <br /> • 86 dock slips (71 non �agoon slips, 15 �agoon s�ips), p�us 96 dry stack �i�ts • Hoop Bui�ding - mis�. storage <br /> • Office - houses administrative staff, customer inquiri�s � Equipment. Trucks, crane, forkfift, maintenanee equipment. <br /> • Pole Barn 1 - used primarily for service work, mechanical repa+rs, etc. • Dock fuel sales. Fuel tank replaced 15/24 years ago. <br /> MARKET <br /> The recent locol real estate market has proven that there is a pent up demand for multifamily dwellings with single (evel (iving and low rnaintenance, especially for baby boomers <br /> and an aging population. 58 units at Regatta Condominiums in Wayzata sold in less than 1 year and the 31 condos currently under construction at the Landing Residences, also <br /> in Wayzata, are 8�°�o sold. Both projeCts have had an average sales price of $1 million. Both the Regaita and Landing ore BohLand Development proje�ts. <br /> Orono real estafie with direct access to Lake Minnetonka is typically known for lorger homes with individual dacks - primarily low-density settings. �ver the last 12 months, there <br /> have been 38 lake fronfi properties sold in Orono with an average sale price of over $1,550,04U - all of whi�h were single-family homes. <br /> Qur research and experience shows that olthough there are a few upper bracket condos with Lake Minnetonka access �urrently on the market, none exist in Orono. The demand <br /> is much broader than just single family and this is an ideal location to bring a modest scale multi-family neighborhood to Lake Minnetonka lakeshore. <br /> We believe many of our potential buyers will come directly from a 6-mile radius from the proposed Maxwe�i Bay Residences - primarily individuals that have lived on the la�Ce for <br /> an extended period of time and are looking to downsixe and enjoy simpler living. The initia� unit mix will consist of 7 townhomes and 22 condos. Homes will range in size from <br /> 1,600-2,400 square feet and price between mid $50Qk to $i.5m. <br /> MAXWELL �AY <br /> PRCJ�ECT CONSIDERATIONS & KEY POiNTS . ; , , •� RESIDENCES <br /> Develapment, Inc. <br />