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Mr. Frank Dunbar May 14, 2010
<br />Dunbar Development Corporation Page
<br />Most properties have continued to experience increased rental traffic moving into 2n° Quarter
<br />2010 and we expect that vacancies will decline when end of 2nd quarter figures are released.
<br />Excluding St. Anthony, vacancies are generally low and lower then the Twin Cities Metro
<br />cage The lower vacancy ruses however rather modest renis in these warmaurides and limited
<br />new product.
<br />In general, new more prodnet when introduced two years ago experienced strong absorption and
<br />the market esponded to moa contemporary unit designs and footnote.
<br />The three newest rental properties in the New Brighton Market Area arc:
<br />Landings or Silver Lake Vdkge in St. Anthony, opened in Mitt. Rents for the various unit
<br />types range as follows:
<br />Studio - $813 to $898 per month for 590 to 720 sf
<br />IBR- $1,037 to $1,468 per month for 753 to 1,113 sf
<br />MR- $1,215 to $1,830 per month for 1, 14 1 to 1,661 sf
<br />3BR-$1,850 W $2,085 per month for 1,630 to 1,723 sf
<br />Maiasheer VY/age in New Brighton, originally a rental property, was converted to
<br />condominiums and has been selling units. However, some units remain as rental.
<br />MR—$1,250 per month for 1,202 sf
<br />3BR - $1,450 per month for 1,380 to 1,462 sf
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<br />In general, new more prodnet when introduced two years ago experienced strong absorption and
<br />the market esponded to moa contemporary unit designs and footnote.
<br />The three newest rental properties in the New Brighton Market Area arc:
<br />Landings or Silver Lake Vdkge in St. Anthony, opened in Mitt. Rents for the various unit
<br />types range as follows:
<br />Studio - $813 to $898 per month for 590 to 720 sf
<br />IBR- $1,037 to $1,468 per month for 753 to 1,113 sf
<br />MR- $1,215 to $1,830 per month for 1, 14 1 to 1,661 sf
<br />3BR-$1,850 W $2,085 per month for 1,630 to 1,723 sf
<br />Maiasheer VY/age in New Brighton, originally a rental property, was converted to
<br />condominiums and has been selling units. However, some units remain as rental.
<br />MR—$1,250 per month for 1,202 sf
<br />3BR - $1,450 per month for 1,380 to 1,462 sf
<br />
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