United Properties Plans Senior Cooperatives
for Minnetonka and Roseville
MINNEAPOLIS (Oct. 29, 2007) — United Properties Residential has acquired two prime parcels of land in the Twin Cities’ area, 3.27 acres in Minnetonka and 6.2 acres in Roseville, with plans to develop its newest Applewood Pointe cooperatives for active seniors.
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“Applewood Pointe provides seniors with cooperative living options in ideal locations across the Twin Cities,” said Brian Carey, senior vice president, development, United Properties. “Our new Minnetonka and Roseville locations are beautiful sites with many nearby conveniences.”
The City of Minnetonka recently approved plans for a four-story, 61-unit senior co-op that will include both market-rate and affordable housing options. Rowland Road and Lone Lake Park border the newly acquired land. Future plans for the property include a trail on adjacent City land to expand the existing park trail system. United Properties anticipates breaking ground on Applewood Pointe of Minnetonka by the middle of 2008.
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The City of Roseville approved plans for its second Applewood Pointe location, the four-story, 95-unit senior co-op that will be located just southeast of I-35W and County Road D at the corner of Brenner and Cleveland Avenue. The wooded property features wetlands and direct access to Langton Lake Park. United Properties anticipates breaking ground on Applewood Pointe of Roseville at Langton Lake by early 2009.
“Similar to other Applewood Pointe communities, these locations will offer buyers a variety of lifestyle amenities while taking advantage of the area’s natural surroundings,” said Carey.
Both Applewood Pointe properties will include exterior amenities such as garden plots and walking paths. Each community will include underground heated parking with a car wash bay. Common space amenities will include a two-story entrance lobby, parlor area with fireplace, sunroom, craft room and woodworking shop, fitness area with sauna, library with fireplace and a game room with pool and card tables. A guest suite for visiting family members, an office for the on-site manager and a common kitchen area off of the great room for use by residents are also planned for each property.
Applewood Pointe senior cooperative living communities provide independent seniors the option to invest in real estate without the maintenance responsibilities of home ownership. Other Applewood Pointe locations in the Twin Cities area include Bloomington, Maple Grove, New Brighton, Roseville and Woodbury.
For more information regarding housing options for Applewood Pointe of Minnetonka or Applewood Pointe of Roseville at Langton Lake, call 952-884-6400 or visit applewoodpointe.com.
About United Properties
United Properties is a full-service commercial real estate company with more than 500 employees and 30 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, construction management and development.
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. The company has been recognized by the Business Journal as one of the Great Places to Work in the Twin Cities for the last four years. United Properties is located on the web at www.uproperties.com.
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