HomeMy WebLinkAboutJuly 14, 1998 Special MeetingCITY OF COLUMBIA HEIGHTS
590 40Th AVENUE N.E., COLUMBIA HEIGHTS, MN 55421-3878 (612) 782-2800 TDD 782-2806
ADMINISTRATION
Mayor
Joseph Sturdevan~
Councilmembers
Donald G. Jolly
Gary L. Peterson
Rober~ W. Ruettimann
Marlaine Szurek
City Manager
Waiter R. Fehst
Notice is hereby given that an official meeting
is to be held in the
CITY OF COLUMBIA HEIGHTS
as follows:
Meeting of:
Date of Meeting:
Time of Meeting:
Location of Meeting:
Purpose of Meeting:
MAYOR, CITY COUNCIL, CITY MANAGER
TUESDAY, JULY 14, 1998
6:00 P.M.
/
CITY HALL CONFERENCE ROOM
SPECIAL CITY COUNCIL MEETING
Call to order
Roll call
Concept Plan for Liveable Communities Demonstration Program
Grant Application
A. Keith Jans and Terry Troy, Real Estate Equities
Development Company
B. Peter Keely, ESG Architects
MOTION: Move to waive the reading of Resolution 98-
there being ample copies available to the public.
MOTION: Move to adopt Resolution 98- , Being a
Resolution Authorizing Application for the Liveable
Communities Demonstration Program.
4. Adjournment
The City of Columbia Heights does not discriminate on the basis of disability in the admission or access to, or treatment or
employment in, its services, programs, or activities. Upon request, accommodation will be provided to allow individuals with
disabil/ties to participate in all City of Columbia Heights' services, programs, and activities. Auxiliary aids for handicapped
persons are available upon request when the request is made at least 96 hours in advance. Please call the City Council Secretary
at 782-2800, Extension 209, to make arrangements. (TDD 782-2806 for deaf only)
THE CITY OF COLUMBIA HEIGHTS DOES NOT DISCRIMINATE ON THE BASIS OF DISABILITY IN EMPLOYMENT Or THE PROVISION Of SERV[CES
EQUAL OPPORTUNITY EMPLOYER
CITY OF COLUMBIA HEIGHTS
590 40TH AVENUE N.E., COLUMBIA HEIGHTS, MN 55421-3878 (612) 782-2800 TDD 782-2806
ADMINISTRATION
Mayor
Joseph Sturdevant
Councilmembers
Donald G. Jolly
Gary L. Peterson
Robert W. Ruettimann
Madaine Szurek
City Manager
Walter R. Fehst
Notice is hereby given that an official meeting
is to be held in the
CITY OF COLUMBIA HEIGHTS
as follows:
Meeting o£:
Date of Meeting:
Time of Meeting:
Location of'Meeting:
Purpose of Meeting:
MAYOR, CITY COUNCIL, CITY MANAGER
TUESDAY, JULY 14, 1998
6:00 P.M.
CITY HALL CONFERENCE ROOM
SPECIAL CITY COUNCIL MEETING
Call to order
Roll call
Concept Plan for Liveable Communities Demonstration Program
Grant Application
A. Keith Jans and Terry Troy, Real Estate Equities
Development Company
B. Peter Keely, ESG Architects
1
MOTION: Move to waive the reading of Resolution 98-~,
there being ample copies available to the pu1~ic.
MOTION: Move to adopt Resolution 98-J- ~r, Being a
Resolution Authorizing Application for the Liveable
Communities Demonstration Program.
4. Adjournment
The City of Columbia Heights does not discriminate on the basis of disabihty in the admission or access to, or treatment or
employment fin, its services, programs, or activities. Upon request, accommodation will be provided to allow individuals with
disabilities to participate in all City of Columbia Heights' services, programs, and activities. Auxiliary aids for handicapped
persons are available upon request when the request is made at least 96 hours in advance. Please call the City Council Secretary
at 782-2800, Extension 209, to make arrangements. (TDD 782-2806 for deaf only)
THE CItY OF COLUMBIA HEIGHTS DOES NOT DIBCF~IMtNATE ON THE BASIS OF DiSABILiTY tN EMPLOYMENT OR THE PROVISION OF SERVICES
EQUAL OPPORTUNITY EMPLOYER
CITY COUNCIl, LETTER
Meeting of: July 14, 1998
AGENDA SECTION: ORIGINATING DEPARTMENT: EXECUTIVE
NO: Community Development DIRECTOR
APPROVAL
ITEM: Livable Communities Demonstration BY: Ken Anderson f_,~{,:~" BY:
Program Grant Application/Concept Plan DATE: July 10, 1998
BACKGROUND:
For the grant application associated with the Livable Communities Demonstration Program, the staff has
been working with a group of people to consider a housing development on the property currently owned
by Northwestern Electronics Institute (NEI). The proposal is to do a combined townhouse and senior
housing development project on NEI property to serve as a transition block between the central business
district and low-density residential areas to the north and west. The project would be substantially the
same in concept as that proposed by the Minnesota Design Team.
This special meeting is being held to allow the developer to present to you a visual, conceptual rendering
of the development proposal. Representatives of Real Estate Equities Development Company and ESG
Architects will be present to discuss the proposed project. We have also invited Shirley Barnes, CEO of
Crest View Corporation, and Chuck Detman, NEI. We have attached a draft Resolution to be approved
by the City Council if the conceptual plan is satisfactory to the City Council.
RECOMMENDED MOTION:
Move to waive the reading of Resolution 98- __, there being ample copies available to the public.
RECOM2MENDED MOTION:
Move to adopt Resolution 98- ~ Being a Resolution Authorizing Application for the Livable
Communities Demonstration Program.
Attachment
EDA ACTION:
h: 7-21-98LivCom
DEVELOPMENT ( OMPANY
REAL ESTATE EQUITIES provides development,
marketing, property and asset management services.
We are proud of our 25-year reputatlon for creativity, integrity,
and service excellence with residents, communities, investors and
associates in the multifamily housing industry.
P~EAL ESTATE EQUITIES
Partners in the Development of People and Properties
ESTATE F~QITITIES
DEVELOPMEI
REA~ £$TATE EQUITIES ~ for~
Today, ~ ES~E EQ UIT~S' divers~ por~o~
PROJECT ~M~ST~TION
· ~ Prelimina~ ~sessment and Projec~ Definition
· ~ Selection and ~ordina6on of ~evelopment Team
· ~ Implement Development Program and Monitor Progress
· ~ ~ordinate Municipal Approval Process
PROJECT C~I~IZATION
· ~ ~ns6~6onal Joint Venires
· ~ ~nventional F~anc~g Programs
~ ~w Income Housing T~ Credit Struc~res
· ~ T~ Exempt Bond Transactions
YSIS
· ~* Real Estate Inves~ent ~alysis
· :' Financial Fe~ib~iw
· ~* Sale/Re~nance
· :' Public and Private Pa~nership St~c~res
DE~LOP~~/CONSTRUCTION
· ~* New ~nstmcfion
· ~* Turn-Key Development
· ~* Redevelopment
· :* Acquisifio~Rehab~ita~on
Part. rs i~ t~e Deve~p~l
EQUITIES****
IT GOS/IPANY
and management services for real estate investment partnerships.
ividua~ comity and institutional partners.
,ver 4,500 housing units with a value in excess of $150,000,000.
DEVELOPMENT
I~EAL ESTATE EQUITIES' role is to provide project leadership and development
expertise for a few selected development opportunities. This is accomplished by: identi-
fying the community representatives who have a stake in the project; listening carefully
to the concerns and intentions of all participants; clearly summarizing the stated goals
and timelines; assembling a professional team; and, communicating clearly and often
with the team and community to keep the project on target.
~TING
t~EAL ESTATE EQUITIF~ is involved in the marketing of new construction
projects, rehabilitation projects, acquisition/rehabilitation projects and our 4,500 unit
portfolio on a daily basis. Based on the characteristics of each specific project,
REAL E~TA_TE EQUITIES customizes the marketing program to cost-effectively
achieve sustaining occupancy in the shortest period possible.
PROPERTY MANAGEMENT
In August of 1995 t~EAL ESTATE EQUITIES MANAGEMENT GOMPAN¥
(_A_MO), one of the Twin Cities oldest and largest private property management firms
entered into a joint venture with Village Green Management Company headquartered
in Farmington Hills, Michigan. V~rllage Green is currently ranked in the nation's top 50
apartment manager's with 22,000 apartments in eight Midwestern states.
ASSET MANAGEMENT
With over 600 private and institutional investors and a portfolio of over 4,500 units,
asset management is a significant part of our business. I~EAL ~TE EQUITIES
is committed to being superior asset managers. Experience has taught us that prudent
capital planning,, periodic evaluation of each property and open communication with
investors are the keys to successful asset management.
of People and Properties
REAL ESTATE EQUITIES, INC.
400 DEGREE OF HONOR B I_DG. · 325 CEDAR ST. · ST. PAkJ t_, M N 55101 · 612/227-¢;925 · FAX {B I 2/227-900
1~ E AL ESTATE EQUITIES
Profile
]3~EAL F~STATE ]~]QUITIES
~EAL ~STATE ]~OlfITIES/The Company
REAL [~STATE EQUITIES was formed in 1972 to provide business and management services
for real estate investment partnerships. Co-founders Robert S. Bisanz and Terrence E. Troy
have been the managing partners for over $0 partnerships encompassing approx/mately 6,000
apartment units.
REAL ESTATE ]~QUITIEShas extensive experience in all facets of proiect development,
~inancial analysis, new project capitalization, real estate investment, refinance, low income
housing tax credits, rehabilitation, project stabilization, tax exempt bond issues, institutional
ioint ventures, real estate and asset management.
Today, REAL ESTATE ]~QUITIES' diversified portfolio comprises over 4,000 apartment units
in 21 buildings with a market value of $150,000,000, consisting of class "A" institutionally
financed proiects, LIHTC projects, proiects with HUD-insured mortgages, Section 8 housing,
trax-exempt bond-~inanced projects, and providing apartment management and mortgage
brokerage services to institutional investors and other clients including:
°7* 1Viinnesota fCiutual Life Insurance Company.
· :° Northwestern National Life Insurance Company
· :° The Boston Financial Group
· ~' Northern States Power
· 5° Over $00 Private Investors and Various Financial Institutions.
REAL ESTATE EQUITIES ]~ROt[ERAGE COMPANY was formed in 1980 and offers a
Broad range of services to clients. Since its formation in 1985, REAL ESTATE EQUITIES
FII',IAlxIGIAL SEi~/VIGES GOMPAlxIY has brokered over $?0,000,000 worth of loans for their
real estate investment clients.
In August of 1995, [[~EAL ESTATE EQUITIES MANAGEiVlENT COlv~P~N'Y (Al'vIO). one of
the Twin Cities oldest and largest private property management Frrms entered into a ioint
venture with X.r~llage Green i¥lanagement Company headquartered in Farmington Hills,
Niichigan. V'~llage Green is currently ranked in the nation's top S0 apartment managers with
22,000 apartments in eight 3/[idwestern states.
In addition to managing the ex/sting REAL ESTATE EQUITIES portfolio and \tillage Green
portfolio the new Twin Cities company, REA_L ESTATE EQUITIES/VILLAGE OREEN, LLG
will focus on the acquisition of management contracts and management companies in ~nnesota.
REAL ESTATE EQUITIES provides superior development, marketing, property and asset
management services. Our reputation for integrity, excellent resident service and concern for
people is evident in the apartment communities we are involved with, and in our dealings with
communities and associates in our industry.
i~EAL ]~STATE EQUITIES/The People
Terrence E. Troy, C.P.M. - Chairman
Mr. Troy graduated from St. Thomas Military Academy in 1955, and from Dartmouth College in 1959. Mr.
Troy began his career in the financial services industry. He brought his investment and £mancial expertise to
the business of real estate in 1972 by forming a partnership with Robert Bisanz in the field of real estate
investment and management. He and his parmer have purchased and managed over $200 million of multi~
family real estate projects in partnership with institutional investors, government bodies, and hundreds of
individual investors.
Robert S. Bisanz, C.P.M. - President
Mr. Bisanz attended Notre Dame University from 1961 to 1966, and took his B.A. degree in Business
Administration at St. Thomas College in 1966. Mr. Bisanz entered the real estate industry in 1967, joining
other members of his family in Bisanz Brothers Development Company, gaining a wide range of real estate
experience during the next five years: planning, financing, developing, and selling commercial, residential,
and apartment properties. In 1972, Mr. Bisanz formed a partnership with Terrence E. Troy to enter the
business of creating and managing investment real estate.
Pamela J. George, C.P.M. - Chief Operating Officer, Asset Management
Ms. George has worked in the multi-housing industry since 1972. Since she joined Real Estate Equities in
1979, Ms. George has acted as a Property Manager, Director of Property Operations, Vice President and
Asset Manager. As COO, her responsibilities include property management oversight of Real Estate Equities
from an asset management perspective, supervision of approximately 30 partnerships, investor
communications, and supervision of due diligence and financial structuring of new acquisitions and property
sales.
Keith S. Jans -Vice President, Development
Mr. Jans has been involved in the real estate industry for nearly 15 years. He is a 1982 graduate of the
University of Minnesota with a BS degree in Housing. At Real Estate Equities, Mr. Jans is responsible for
acquiring and developing real estate projects; conducting feasibility due diligence; locating and structuring
proiect financing, tax credit investments and non-tax credit investments; structuring fee arrangements and
ownership participation; and managing the development process.
Michael J. Semsch, C.P.M. - Chief Operating Officer, Property Management
Mr. Semsch has worked in the property management industry since 1971. Mr. Semsch joined Real Estate
Equities in December, 1989. His duties include: marketing Real Estate Equities management business:
communicating with owners and property management clients; analyzing Real Estate Equities' current
property management systems; expanding Real Estate Equities' commercial management account base; and
overseeing the $11 million rehabilitation of two large apartment communities totaling 689 units.
John 1L Segner, C.P.A. - Vice President, Finance ~ Chief Financial Officer
Mr. Segner began his career with the firm of KPMG Peat, Marwick in Minneapolis, Minnesota. Several of
his varied clients were real estate companies. In 1990, Mr. Segner moved to the incentive marketing £n'm of
Bitterman and Associates, Inc.(BRA) as Vice President of Finance and Chief Financial Officer. At BRA, Mr.
Segner managed a multi-million-dollar portfolio and was in charge of the accounting and MIS divisions. BRA
counts among their clients many Fortune 500 companies. At Real Estate Equities, Mr. Segner is responsible
for all accounting and MIS functions while actively involved in corporate and investor tax compliance issues
as well as the low income housing tax credit program.
Irene Wright - Project Coordinator
Ms. Wright began her career in the real estate industry in 1981. She holds a BA degree in marketing/
advertising from Metropolitan State University. Joining Real Estate Equities in 1993, Ms. Wright is
responsible for the creation and execution of corporate and project marketing plans; tax credit compliance
auditing; and, project development coordination.
I:~EAL ESTATE EQUITIES, IN~. '
400 DEGREE Of HONOR BLDG.*325 CEDAR ST.,ST. PAUL, MN 55101,612/227-6925,FAX 612/227-9001
Real Estate Equities
Development Company
Recent Projects
Lake Phalen Townhomes
(Construction Began: May 1998)
Address: 1935 MARYLAND AVENUE
PROJECT TYPE:
Redevelopment:
New construction for-sale townhomes
TARGET MARKET:
Seniors and empty-nesters, single professionals, couples and young families
PROJECT NARRATIVE;
The Project consists of the construction of 30 townhome units on a 3-acre site. The Project is a
redevelopment project done in conjunction with the City of St. Paul through its HRA beginning with the
acquisition of a 50% vacant (135 unit) apartment complex.
The Project offers a mix of 8 one-level and 22 two-level townhomes. Standard features include: Walk-
through "townhouse" design, attached double garage, basement, 9' / vaulted ceilings, oversized vinyl
windows, 6-panel doors, all appliances and maintenance free exteriors.
SERVICES PROVIDED:
Property Acquisition
Project Administration
Design/Construction Supervision
Property Marketing
Property Management
Sale of Units
PROJECT DATA:
Total Project Cost:
Type of Units:
Number of Units:
Number of Buildings:
Total Site Area:
$6,700,000
1- and 2-Story Townhome Design
30
6
3.01 Acres
UNIT
INFORMATION:
Unit Type:
Number of Units:
Average Size:
Average Price:
Price Range:
1-Level
8
1,355 S.F.
$I26,500
$95,000-$~22,000
2-Level
22
1,303 S.F.
$110,909
$122,OOO-$132,OOO
Project AveraRe
30
1,317 S.F.
$~5,000
$95,0OO-$~32,0OO
Lafayette Oaks Townhomes
(Construction Began: February 1998)
City: V,]EST ST. PAUL, MN
Address: 1860 CHRISTEN$ON AVENUE
PROJECT TYPE:
New Construction:
For-Sale Townhomes
TARGET MARKET:
Seniors and empty-nesters, single professionals, couples and young families
PROJECT NARRATIVE:
The Project consists of the construction of 39 townhome units on a 7-acre site in the Southeastern corner
of XXJest St. Paul. The Project is an in-fill development which capitalizes on the convenience and pent-
up demand of a fully-developed first-ring suburb. The goal of the project is to create a human-scaled
"neighborhood" with a mix of offerings which appeal to the target market population.
The Project offers a mix of 22 one-level and 17 two-level townhomes. Standard features include: VJalk-
through "townhouse" design, attached double garage, basement, 9' / vaulted ceilings, oversized vinyl
windows, 6-panel doors, all appliances and maintenance free exteriors.
SERVICES PROVIDED:
Property Acquisition
Project Administration
Design/Construction Supervision
Property Marketing
Property Management
Sale of Units
PROJECT DATA:
Total Proiect Cost:
Type of Units:
Number of Units:
Number of Buildings:
Total Site Area:
$5,791,000
1- and 2-Story Townhome Design
39
6
7.1 Acres
UNIT
INFORMATION:
Unit Type:
Number of Units:
Average Size:
Average Price:
2 Bedroom
21
1,278 S.F.
~144,475
3 Bedroom
18
1,452 S.F.
~153,167
Proiect Average
39
1,358 S.F.
~;148,486
The Oaks of Mainstreet Townhomes
(Construction Began: November 1996)
(ProJect Sell-Out: August 1998)
City: HOPKINS, MN
Address: 2012 MA1NSTREET
PROJECT TYPE:
New Construction:
For-Sale and Lease-Purchase Townhomes
TARGET MARKET:
Seniors and empty-nesters, single professionals, couples and young families
PROJECT NARRATIVE:
The Project consists of the construction of 66 townhome units on a 7-acre site near downtown Hopkins.
The Proiect was a redevelopment project done in conjunction with the City of Hopkins through its HRA
beginning with the acquisition of a 75% vacant mobile home park, relocation of the residents and
demolition and clearance of the site.
The Project offers a mix of 18 one-level and 48 two-level townhomes. Standard features include: ~(/alk-
through "townhouse" design, attached double garage, basement, 9' / vaulted ceilings, oversized vinyl
windows, 6-panel doors, all appliances and maintenance free exteriors.
SERVICES PROVIDED:
Property Acquisition
Resident Relocation
Project Administration
Design/Construction Supervision
Property Marketing
Property Management
Sale of Units
PROJECT DATA:
Total Project Cost:
Type of Units:
Number of Units:
Number of Buildings:
Total Site Area:
$9,150,000
1- and 2-Story Townhome Design
66
10
6.7 Acres
UNIT
INFORMATION:
Unit Type:
Number of Units:
Average Size:
Average Price:
2 Bedroom
4O
1,241 S.F.
$112,750
3 Bedroom
26
1,431 S.F.
$127,308
Project Average
66
1,316 S.F.
$118,485
Columbine Townhomes
(Occupancy December 1996)
City: EDEN PRAIRIE, MN
Address: COLUMBINE ROAD
PROJECT TYPE:
New Construction:
Rental Townhomes
TARGET MARKET:
100% Low Income Housing Tax Credit
PROJECT NARRATIVE:
This ProJect features large two-story townhouse unit designs with attached garages. It is ideally located
within close proximity to shopping, the Eden Prairie Middle School and a large community park with
bike paths and an outdoor pavilion.
SERVICES PROVIDED:
ProperW Acquisition
Project Administration
Design/Construction Supervision
Property Marketing
Property Management
PROJECT DATA:
Total Proiect Cost:
Type of Units:
Number of Units:
Number of Buildings:
Total Site Area:
$3,200,000
2-Story Townhome Design
32
8
3.2 Acres
UNIT INFORMATION:
Unit Type:
Number of Units:
Average Size:
Average Rent:
2 Bedroom
8
1,152 fF.
$~4o
3 Bedroom
16
1,270 S.F.
$740
Proiect Avera~;e
24
1,378 S.F.
$8oo
Polynesian Village Apartments
(Completed: December 1995)
City: NEVJ BRIGHTON, MN
Address: 1417 - l0th STREET NORTHWEST
PROJECT TYPE:
Acquisition - Substantial Rehabilitation
TARGET MARKET:
Mixed Income Multi-Family Rental Apartments- (75% Tax Credit / 25% Market Rate)
PROJECT NARRATIVE:
This Project is the targest Low Income Housing Tax Credit Project completed in the State of Minnesota.
It was originally built in 1970, and the project outlived its useful economic life. ~vVJhile the project was
structurally sound it needed to be updated. The acquiring partnership utilized a tax exempt bond
structure in addition to the L1HTC equity to fund the project.
SERVICES PROVIDED:
Project Administration
Design/Construction Supervision
Property Marketing
Property Management
PROJECT DATA:
Total Proiect Cost:
Type of Units:
Number of Units:
Number of Buildings:
Totat Site Area:
$17,700,000
3-Story VJalk-Up Apartments
364
18
24 Acres
UNIT INFORMATION:
Unit Type:
Number of Units:
Average Size:
Average Rent:
I Bedroom
97
750
$559
2 Bedroom
267
900 ~;.F.
Eden Park Apartments
(Completed: December 1994)
City: BROOKLYN PARK, MN
Address: 6455 ZANE AVENUE NORTH
PROJECT TYPE:
Acquisition - Substantial Rehabilitation
TARGET MARKET:
Multi-Family Rental Apartments- (100% Low Income Housing Tax Credit)
PROJECT NARRATIVE:
This Project represents a creative solution to the problem of the decaying apartment communities in the
Twin Cities Metro area. A public-private partnership was formed between the Brooklyn Park Economic
Development Authority (EDA) and Real Estate Equities, Inc., (REE). The partnership acquired a half
empty run down 396 unit property and turned it into 364 units of housing with a new 6,500 square
foot community center.
SERVICES PROVIDED:
Property Acquisition
Tenant Relocation
Project Administration
Design/Construction Supervision
Property Marketing
Property Management
PROJECT DATA:
Total Proiect Cost:
Type of Units:
Number of Units:
Number of Buildings:
Total Site Area:
$15,645,000
3-Story Walk-Up Apartments
324
19
20 Acres
UNIT
INFORMATION:
Unit Type:
Number of Units:
Average Size:
Average Rent:
Bedroom
63
750 S.F.
$450
2 Bedroom
180
900 S.F.
3 Bedroom
81
1300 S.F.
$800
REAL ESTATE EI2UITIE$
Property Portfo//o
325 Cedar Street, Suite 400
St. Paul, MN 55101
Aspen Valley Apartments- ......... 22~ ~ Oaks of-Mainstreet Town½0~les
2525 Vdill[ams Drive 1906 Mainstreet
Burnsville, MN 55337 Hopkins, MN 55343
Columbine Townhomes 32 Lafayette Oaks Townhomes 39
862t Columbine Road I860 Christenson Avenue
Eden Prairie, MN 55344 ~Ydest St. Paul, MN 55118
Continental Village Apartments 86 Parkhill Apartments 134
8510 - 56th Avenue North #15 3025 Ottawa Avenue South
New Hope, MN 55428 St. Louis Park, MN 55416
Crosby Pointe Apartments 73, Pheasant Park Apartments 92
1115 Elway Street 5625 Boone Avenue North
.... St. Paul, MN 55116 ...................... New Hope,.MN...5~428 .......
Eden Commons Apartments 196 Place 192
11605 VJilder Drive 3925 Lancaster Lane
Eden Prairie, MN 55344 ....... Plymouth, MN 55441
*Eden Park Apartments 324 *Polynesian Village Apartments 364
6455 Zane Avenue North 1417 -10th Street NVJ, #102
................ Brooklyn Park, MN 55429 ..... New Brighton~.MN 55112 ...
Heritage Height~ Apartments ...... i92 Shadow Green Apa-rtm~nt~ 182
11820 Zea Street NVd 14255 Valley View Road
...... Coon Rapids, .MN 55433 ........... Eden Prairie, MN 55344 .......
i Heritage Hi-lis APartments i35 Shelard Manor 186.
3909 Heritage Hills Drive 301 Shelard Parkway
Bloomington, MN 55437 .... St. Louis Park, MN 55426 .....
FlopkinS ........ i7 ~oUth-east APartments ..... 286
4t - 8th Avenue, #10I 320 Seventh Street SE
__ Hopkins, MN 55343 ............ Minneapolis, MN 55414
Lakevi~w C-°mm°~ ............ 64 Stratford ~X/O°d Apartments 29~
15215 -18th Avenue North 18900 Stratford Road
.......... Plymouth,.M.N 55447 ...... __Minnetonka, MN .55345 ...........
Lake Phalen Townhomes 30 Villa Del Coronado Apartments 192
1935 Maryland Avenue 8104 Zane Avenue North, #108
St. Paul, MN 55 ............. B_?o__kl__yn Park, MN 55443
Manor Royal Apartments 132
3930 Lancaster Lane
................ _Pl_~ymouth, MN 55441 ............................
No~htoWn Vill~a~e APartment~ ....... 161 ;~ LOW IncOme Housing
7879 University Avenue NE
......... spring I~ake Park, MN 55432 ......................... ..T_OTAL UNITS 3,700
Ori2~nr~l¢fiublished in the 5/16/97 issue of CityBusiness 1997 CityBusi~ess '~g ~5 B~i{ gF ~ I 10~
1996
Rank rank
LARGEST METRO-AREA
RESIDENTIAL PROPERTY MANAGERS
Ranked by units managed in the metro-area Research by Dirk DeYoung
Full-time
equivalent
employees
Units Properties year
Name managed in managed in
Address. phone metro are~ metro are~ L~rgest properties, city of location Chief executive founded
306
................. z &l & 654 : Horrl Terrace. Mi~eapo115 : - Cor~ M¢Co~ey. execur~e director:
Mm~o~j~l~ 5~I 342-143~ ....... = ...... ............. 314 H~nnepm Av~. MmpeapolL* .
Dominium Management Services Inc. S,418 32 Huntington Plae~ Brooklyn Park Dean CLark, president 716_~~
2915 N~gara Large Century Court (Penn), Richfield 19~
Plymouth, MN 55447 559-1711 The Burlington, St_ Paul
StevenScot:l~anagementlnc. ' ' :5~' 5.000_-~['*-~7~-50- '[~ ~[~, Burns'P~ceApartrnent~'Ea~c .gcpa_u~ :_~ : -
t ~ ~ ~_ :~ ~: ~.~_ :-~-~.:~.~_r:~:_~.: ' :~ Tar~[t Apar~r~nts. ILtoomin~on : ~ _ Scott Bader. executive vice president. 1968
5402 Par~ Drlv~ Suite 200 - · ~'-- ~ :¥~ ~ ' -~:[~ r~:[~i~:: point of America ACar~nent~ Brooklyn Park
S: Louis Park. MN S5416 540-8632
Cities Management Inc. 4.465 67 L~ke Pointe. Woodbury Klm Carlson. CEO 4S~L
2815 Wayzata B~d. Cedar Ridge. Minnetonka 1982
Minneapolis, MN 55405 381-8600 Brismt Ridge, Burnsville
· -' -.., e:'~TM ;7 * ~ '~' ....~D~nou~-h~10~n~s St. P~ul ....... ~ ~ j0~ Gul~nn. executive direCtOr '
St. Paul Public Mous ng Agency L}} ~ ~[~L~; ' ; ~ ~- "~ '* S 'Paul ' ' ·
St. paukMNSSlOI 298-5664 -. '-']~:~j~7).<'::~'~` ~'~-'~-:~i~: Roosevdc.Homes, St-Paul '
Real Estate Equities/¥illage Green 4,193 21 polynesian Villag~ New Brighton Robert ~isan~ Terrence Troy. Terry 200
600 S. Highway 169, Suite 1450 Stratford Wood. Minnetonka Schwar~ principals 1972/1919~
St- Louis Park. MN 55426 797-1920 A~ben ValIey, Burnsville
' ' Harold Dokmo Jr. pmslden: . 202
i7 Mid Co~ltlnent I~anagement C0rp: · :~ 3,505 36 ' W~llowbrOo~/V~llow ~ Brooklyn [~rk =: ~ . ~ ~:: . '. . ~
70
12 Highland Management Group 3.300 27 ~ms~te. Hophns Hark Jones ii. president ~
5290 Vi[~ Way Wes~lde. Hoph~ 1~
Edim. HN S~3~21~ ~1020 L~i~on. Roseville
NP
Sentinel Management Co. 3,003 NP NP NP
51S I Edina Industrial Bird.. Suite 600
Edir~ MN 55439-3023 831-5002
VIP Prope~ct~ .: ~ ~ . . 3.000 :;; 50 ;rYe::: ' Edgerton Highlands. Maplewoo~ ' ....... Myron Striker. Lois Vehsco. Joseph
ll300MinnetonkaMitlsRoad , .. ~ [ / ': -"-,~~:~.~¥77~ ~;~T.: Min~nkaE~-~ater, SpringPark BL~n~pdnci~
Minc, etonka, MN 55305-5157 938-4452 ' ' · "~ :i: ? ;~ .... Green~te Ap~.rcr~ntr~
LaSalle Group Ltd. 2.991 40 Ca~ry Center Cooperative. Golden Yalley Tl~ornas LaSalfe. president --
2001 Killebrew Dr~ve. Suite 308 Rolling Meadows. Inver Grove Heights 1975
Blooming:on. MN 55425 854-8800 Village Green. Frldley
Stuart M~n~ement Corp;:- ~ ..... 2.966 2~- = Greenfield Apartmenu. Hop4dr~ Stuart Nohn. CEO 82
1050 W. 80th S*. · .... ·~ :~L~- .-~ J ~;i¢ Highland Ridge Apartment=. St. Paul ' 1970
Bloornington, MNS5420 948-9500 - : ...... z~- : :~"~-:~--~.-]5 ~. ''~' : ~ "~ 27;~ ' - ' ~ ' '
Ted Bigos, president
Bigos Investments 2.916 22 Mallard Ridge. Maple Grove 100
6400 Barrio Road, Suite 1400 Edina Tower~, Edina 1~85
Edina. MN 55435 924-I 178 Observatory Apartments. Burnsville
NP
NP
Min~ MN 55305 361~0~
NMD Prope~ Management Co. 2.532 13 Wedgew~d ~sociadon. Woodbu~ ~nd~ Dumd. president
45 S. Seven~ S~ Suite 3010 Ceda~le Highl~ds. E~n
Mind,Ils. MN 55402 349-6~ Yo~ PI~. Edim
Golden V~Iey. MN 554~-51 ~ 3~- I 8~ ~e Grace ~en~. ~
Tycon Cos. In~ 2.484 34 Midland Ter~ce. 5horevlew Alan Menning. vice president
Forest Meadows, Bl~mi~on
Minnea~li*, MN 55414 379-7~
~P Dodge ~pe~ ~agement 2,418 14 ~e ~e ~llag~ In~r Gr~e Heig~ N.P. Do~e I~1. presiden~
2850 ~e~o Dr~ Sui~ 519 :-; ~mi~m, ~lle ] Ro~ ~n~ vice p~idenL Min~som
Bl~mln~ MN 554~ 85~8558 ~ck ~resL FHdley * :
87
CommonBond Communities 2,141 32 So.rd Towe~ ~ Hinnea~lis Joseph Errigo. president
328 West Kello~ Blvd, ~rd Towers We~ Hinn~lis I~1
Sc ~uL HN 55102-1997 291-1750 To~e de San Hi.el Homes, Si Paul
Metes & Bounds M~agement Co. 2.02S 30 Pabb[e C~k No~. ~ ~ Jan Sus~ pr~id~t
~25 L~e Ave. S. ~ 620 ~- Rosew~d We~ Hop~ns : ~ ~ 1~6
46
5801 S. Cedar ~ke Road. Sui~ A R~er Poin:e ~a~en~. FHdley
S: Louis Par~ MN 55416 593-9930 BrookVilla ~a~en:. Br~ Park
BT&A Const~on 2,000 -- 6~' ~ ~ M~[ght~l~S[ ~ut .... ~dore G*ldmn. ~[d Goldm~
Filister Enterprises 2,000 10 Geo~etown Coum ~a~en:. FHdley Maudce Fitbmr. Ha~ey Filismr. Gene
Rosedale ~ms No~ & ~u~. Rose~[le S6l~p:s. owners 1%5
5750 ~t R~er Road Haplewood ~a~en~. Maplew~d
Fridley. MN 55432 571-33~ 130
H~ley-~me Co. 2,000 7 Ha~shim Hill ~nu. ~min~n P~r ~mm~ pre$iden~
Minne~ MN 55343-8~
man~ctured housing communi~es, which Information cu~ent ~ off May 1997
may have b~n included by some
residential prope~ mamgem in pa~
Abbreviation:
pro~qded
NE = Not ranked in
1996
Footnotes:
I, Na*Jonal employees; Dominium has Ig7 employees in the metro
area
2. Inctudes high.rises and family developments but not approximately
400 scattered site properOes
3. Village Green was founded in 1919