June 27, 2006

Dear Friend,

Because you’ve shown interest in receiving information about the Wellspring Cooperative at Parker Village, we’re writing to you to personally share news about our status.

As the master developer of the City of Robbinsdale’s Parker Village redevelopment site, Shelter Corporation has been proud to help bring attractive new quality housing to the City. The first three of nine eventual Single Family Homes at Parker Village have been well received, and the 142 townhomes of Regent Place at Parker Village by Ryland Homes are already making Robbinsdale a new place to call home for many people.

While these positive accomplishments have been rewarding for all of us, progress at The Wellspring Senior Cooperative at Parker Village has been slower than anticipated.

Rather than asking you and your neighbors to be patient while the number of buyers needed to start the building develops, we feel it is better to halt all activity at this time.

Our colleagues at the Woodbridge Cooperative in New Hope, located at 5650 Boone Ave North (Bass Lake Road and Boone Avenue North.), have a beautiful new cooperative community completed and ready for occupancy.  If, as we believe, cooperative living is an attractive residential option for you, we encourage you to contact Woodbridge to learn more. Their phone number is 952-844-6161.

We want to thank you for your interest and support. Our experiences with the wonderful people who have considered living at Wellspring have been warm and rewarding. We are disappointed that the Wellspring Cooperative at Parker Village could not move forward.

If you have any questions concerning this decision, please feel free to call.

Warm Regards,