Development, Expansion and Renovation Projects. As of January 31, 2015, the Company had several development, expansion and renovation projects underway or placed in service during the quarter, the costs for which have been capitalized, as follows:

			(in thousands)				(in fiscal years)
Project Name and Location	Planned Segment	Rentable Square Feet or Number of Units	Anticipated Total Cost		Costs as of January 31, 2015⁽¹⁾		Anticipated Construction Completion
Commons at Southgate - Minot, ND⁽²⁾	Multi-Family Residential	233 units	$	37,201	$	34,612	In Service
Minot Wells Fargo Bank - Minot, ND	Retail	4,998 sq ft		3,288		3,185	In Service
Cypress Court II – St. Cloud, MN⁽³⁾	Multi-Family Residential	64 units		7,028		6,638	In Service
Arcata - Golden Valley, MN	Multi-Family Residential	165 units		33,448		30,384	In Service
Red 20 - Minneapolis, MN⁽⁴⁾	Multi-Family Residential	130 units		29,462		28,330	In Service
Roseville 3075 Long Lake Rd - Roseville, MN	Industrial	202,807 sq ft		13,915		8,900	4Q 2015
Minot Office Center - Minot, ND	Retail	7,963 sq ft		2,923		1,802	1Q 2016
Renaissance Heights - Williston, ND⁽⁵⁾	Multi-Family Residential	288 units		62,362		54,713	1Q 2016
Chateau II - Minot, ND	Multi-Family Residential	72 units		14,711		11,257	1Q 2016
Edina 6565 France SMC III - Edina, MN	Healthcare	57,479 sq ft		34,665		16,668	1Q 2016
Cardinal Point - Grand Forks, ND	Multi-Family Residential	251 units		40,042		19,885	2Q 2016
Deer Ridge – Jamestown, ND	Multi-Family Residential	163 units		24,519		11,202	2Q 2016
PrairieCare Medical - Brooklyn Park, MN	Healthcare	72,895 sq ft		24,251		12,195	2Q 2016
71 France Phase I & II - Edina, MN⁽⁶⁾	Multi-Family Residential	181 units		52,055		20,787	3Q 2016
Other	n/a	n/a		n/a		2,547	n/a
			$	379,870	$	263,105

(1)	Includes costs related to development projects that are placed in service in phases (Renaissance Heights - $46.0 million).

(2)	The Company is currently an approximately 52.9% partner in the joint venture entity constructing this project; the anticipated total cost amount given is the total cost to the joint venture entity.

(3)	The Company is an approximately 86.1% partner in the joint venture entity constructing this project; the anticipated total cost amount given is the total cost to the joint venture entity.

(4)	The Company is an approximately 58.6% partner in the joint venture entity constructing this project; the anticipated total cost amount given is the total cost to the joint venture entity. The anticipated total cost includes approximately 10,625 square feet of retail space.

(5)	The Company is an approximately 70% partner in the joint venture entity constructing this project; the anticipated total cost amount given is the total cost to the joint venture entity.

(6)

The project will be constructed in three phases by a joint venture entity in which the Company has an approximately 52.6% interest. The anticipated total cost amount given in the table above is the total cost to the joint venture entity of the project's first and second phase. The expected total project cost for all three phases is approximately $73.3 million for a total of approximately 241 residential units and approximately 21,772 square feet of retail space.