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In addition, the report identified sites that have the greatest <br /> potential for redevelopment based on the positive impact it <br /> would have on the downtown. Primary Redevelopment Sites <br /> Elk River Downtown Redevelopment Area <br /> 2007 Adjusted Market Analysis _� <br /> The table below reflects the remaining balance of demand <br /> a � ._ <br /> available after reducing the initial demand by the recent StMW <br /> development activity that has taken place within the Study Area. <br /> 1.___ <br /> These recent developments include: Northern Area <br /> * Elk AMYkiachlne <br /> Housing: ', j <br /> Granite Shores for-rent multi-family 67 units <br /> Jackson Place apartments 32 units ;� s <br /> h /A qt <br /> Office: �f 111 4 3 <br /> The Bank of Elk River expansion 20,000 sf �� • < r 7 <br /> 1r western "/ •r *ofke <br /> jr Transition Si ; � ------- 3atst <br /> Retail: �' ---- a <br /> _`_ •! 1 : 6 <br /> The Bluffs commercial 10,000 sf f „�d nA <br /> Jackson Place commercial 10,000 sf * ' <br /> 11 Core CBD \. <br /> :. <br /> The balance indicates remaining housing demand to 2010. L..,..- - I N, <br /> Redevelopment proposals that exceed the indicated demand �� <br /> during that time shall be supported by an up to date market a �\ '` <br /> analysis. `, <br /> PaseoNM <br /> Demand Summary Otsego t!lets <br /> S•r9,16 Olin seYse , <br /> Downtown Elk River Redevelopment Area 3!MOM,emsseles <br /> 2007 to 2010 4�" <br /> taefeYH.srelbe. !O•w <br /> lose <br /> Housing 7 L0irild <br /> For-Sale Multifamily 48 units !lMIIroYd <br /> ! lisriag <br /> M ark et Rate Apartments 300-328 units Se Mildide.rW <br /> M ark et Rate Senior H ousing 60-70 units <br /> Source: M axfield Research Inc. & City of Elk River <br /> Draft as of November 5, 2012 -Part I,page 30 - <br />