St Joseph-CS010112By:~DRIO~. REALTY
ADVISORS~
9722411214;
Jan-l,'/~ 12:40PM;
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St. Jgmeph Village, Inc.
180 Samuel Boulevard
Coppell, Texas 75019
972-393-5544/1280 FAX
email: i.wd~orionrealtv.com
January 12, 2001
Henry S. Miller Commercial/Consulting Division
Marl( O'Briant, MAI
5001 Spring Valley, Suite 1100W
Dallas, TX 75244
Re:
Dear Mark:
oppell, Texas
Subject project is being sponsored by a community based non-profit corporation (S Jr). s Jr
acquired the 48 acre site (A+B+C per the alt,ached diagram) in 1998. We now have a
development plan and have submitted a zoning application for a new PD providing for 449 unit
continuing care retirement center, It will have 75 cottages in g~oups of two and four at the north
and south end of the property. The middle of the property will contain a large three story building
with independent living apartments, assisted living apartments, skilled nursing rooms, dining and
recreational facilities, and a 300 seat chapel. All to be developed in two or more phases.
The City of Coppell owns tract C and needs to expand their existing water facility. They and we
prefer this new facility be at our back door, rather the facing Sandy Lake Road. Thus we have
worked out an exchange of Tract C for Tract B with monetary settlement for value differential.
The south portion of Tract B would additionally used to expand the City's sports complex. We will
provide the precise size of Tract B once the City's engineers determine exactJy how much land
they need for the new water facility.
Additionally "we plan to dedicate Tract D to the City in satisfaction of a park impact fee (nominally
$576,965) to be levied on tl3e development. About one acre will be cawed out of it for parking
which we will construct for shared use with the public.
Chase Bank is considering lending into the proposed development and will take a first lien on
Tracts A & C.
We will need appraisals of:
Tract C
Tract B
Tract D
Tracts A + C
all as If the requested zoning is granted.
Would you please consider the implications of this and call with the outline of a proposal.
Sincerely,
%.._,
,,/,~,fice president
Peat-It~ Fax Note 7671
To contact writer: phone 972-241-1277. fax 972-241-1214.01' write 13223 Glad Acres, Dallas. TX 75234
S~q~ By:...ORIO~ REALTY ADVISORS,
9722411214
9722411214; dan-l~'''~ 12:41PM;
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