News Release
United Properties Applewood Pointe of Roseville Development Recognized by Metropolitan Council
MINNEAPOLIS (March 18, 2004) — United Properties and the Roseville Coalition of Churches have been jointly recognized by the Metropolitan Council for their work on Applewood Pointe of Roseville, a senior housing cooperative currently under construction in Roseville at County Road C2 and Snelling Avenue.
United Properties and the Roseville Coalition of Churches were honored for filling a need for seniors transitioning from their family homes. United Properties, the developer of Applewood Pointe, and the Roseville Coalition of Churches worked together to create a new, intergenerational neighborhood on the site of a long-closed elementary school.
“The City of Roseville has a goal to create housing options that will allow Roseville seniors to sell their family homes and move to new housing within the city,” said Brian Carey, vice president, United Properties Development. “We designed a cooperative housing environment that would allow this to happen, and the Roseville Coalition of Churches did a wonderful job of making local residents aware of this unique opportunity. It’s been a great partnership.”
Applewood Pointe of Roseville, which will be ready for occupancy in August, will feature 94 units of senior housing for people ages 55 and older. The homes were designed in 13 different floor plans, all featuring generously proportioned kitchens and living space along with ample storage. Prices range from $120,000 to $235,000 per unit for floor plans ranging from 835 to 1,650 square feet.
The cooperative is part of a 13-acre site with 36 townhomes, seven single-family homes and a city park, creating an intergenerational neighborhood that appeals to active seniors.
Senior cooperatives provide the benefits of real estate investment without the maintenance of a single family home. “Cooperative ownership offers the equity and tax benefits of home ownership without the responsibility of home maintenance,” Carey said, vice president. “Senior co-ops are increasing in popularity because they are attractive to today’s vibrant seniors looking to continue living an active lifestyle.”
Applewood Pointe will feature the luxurious amenities and conveniences that support today’s senior’s energetic lifestyle. A state-of-the-art fitness center, spa and sauna, guest suites and a hobby/woodworking area are just some of the amenities available to all co-op owners. Other conveniences include a craft room, sun room, great room, library with computer, heated parking garage with carwash and a “healthy eating” kitchen for cooking demonstrations and larger group gatherings.
The homes at Applewood Pointe of Roseville are sold out — the majority purchased by current Roseville residents who want stay close to their churches and community — and the project is accepting reservations for its waiting list.
United Properties also is developing Applewood Pointe senior cooperatives in Maple Grove, Woodbury, New Brighton and Bloomington, and the company is exploring other sites throughout the Twin Cities metropolitan area.
Applewood Pointe of Maple Grove is located on a five-acre site one-half mile east of Interstate 494 and Bass Lake Road at Quinwood Lane North. The project includes 74 homes, and approximately 60 percent of the units have been sold. The project is scheduled to be available for occupancy in January of 2005.
Applewood Pointe of Woodbury will include 76 senior housing units and will be located at the intersection of Interstate 494 and Lake Drive. It will be the first senior housing cooperative in Woodbury. United Properties recently began marketing this project, and construction is expected this summer.
Applewood Pointe of Bloomington is part of a larger redevelopment at 84th and Lyndale Avenue South that will include a new 73,000 square foot Cub grocery store, 11,000 square feet of retail space and 50 townhomes in addition to the Applewood Pointe Cooperative. Construction of the new Cub store will begin in April 2004, with construction of the cooperative community set to begin in 2005.
Applewood Pointe of New Brighton will be located on Rush Lake, which is part of Long Lake Regional park. Residents will have access to the lake, hiking trails and other amenities offered in the park reserve.
United Properties has partnered with Preferred Senior Services, a subsidiary of Twin Cities-based Elim Care, Inc., to market Applewood Pointe. For more information, visit www.applewoodpointe.com or call 651-766-6858.
About United Properties
United Properties is a full-service commercial real estate company with more than 400 employees and 26.5 million square feet of office, industrial, retail and multi-family properties under management. The company specializes in diverse real estate services, including brokerage, property management, corporate real estate services, facility services, construction management, development services and investment services.
Based in the Twin Cities, United Properties serves other markets through its affiliations with ONCOR International, an organization of commercial real estate companies serving more than 200 markets throughout the world, and ChainLinks Professional Resource Network, the largest retail-only full-service real estate provider in North America. United Properties is located on the Web at www.uproperties.com.
Media Contacts
Martha Nevanen
Vice President, Marketing Communications
952-893-7539
mnevanen@uproperties.com
Jessie Folkens
Sr. Communications Consultant
952-837-8516
jfolkens@uproperties.com