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Appendix E: Relevant News Articles (cont.) <br />~5~ tra>rxro~j~~~.t`U., <br />Plans for Elk River redevelopment taking <br />shape <br />MinneapolislSt.Paul Business Journal-December 7,2ooA <br />The Elk River City Council approved plans Monday night for the redevelopment of several blocks of <br />its downtown. <br />Approved plans call for the construction of a three-to-four story building on the so-called Bluff Block, <br />the corner of Main Street and County Road 42. It will include underground parking, ro,ooo square <br />feet of commercial space on the first floor and 6o to 68 units of For-sale housing. <br />On the corner of Main Street and Jackson Avenue, the city approved plans for atwo-story building <br />including 32 rental housing units, to,ooo square feet of commercial space and underground parking. <br />Additional parking also will be constructed at King Avenue. <br />Elk River will kick in some financial assistance to the developer, St. Paul-based MetroPlains <br />Development, by providing the company with a portion of the property tax generated from the <br />project over 25 years. <br />MetroPlains will acquire the land and break ground on the project in the Spring of zoos, according <br />to a statement from the city. <br />"Although there is still some work left to be done, we are excited to have reached this important final <br />stage during which construction begins," said Catherine Mehelich, Elk River's director of economic <br />development. "This project is critical to our downtown and community." <br />