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CONSTRUCTION CAPITAL <br /> 18215 45th Avenue North • Suite D • Plymouth, Minnesota 55446 • ph. 763.551.0100 • fax 763.551.4999 <br /> April 28,2014 <br /> City of Elk River <br /> 13065 Orono Parkway <br /> Elk River,MN 55330 <br /> Concept Review <br /> Source Construction Capital would like to present the City of Elk River with a re-plat concept for <br /> the existing Townhome pads in the River Park development.After speaking with city staff last week, <br /> they have encouraged us to present the planning commission and council with this sketch plan <br /> application for review.Since these lots are currently developed for TH's,this new request would require <br /> a zoning change to PUD.The PUD zoning change will allow us to work together to better refine our <br /> development plans. <br /> The intent of this project is to plat over the existing TH pads and create 17 new single family <br /> lots.These lots would vary in size; however they would be consistent with the current product.The <br /> proposed sketch plan calls for a Front setback of 25',side at 10',rear setback at 25'all with a minimum <br /> building pad of 50'x50'.Possible home sizes would range from 2,100-2,500 sqft.We have also spoken <br /> with staff about possibly using the existing services on site to serve these new lots.According to our <br /> utility plan,there are 10 services stubbed to the property. Ideally,we would like to use these 10 and add <br /> an additional 8-10 to serve the new lots.It is clear that every lot would need to be individually served.In <br /> order to make this project work,we will need to find the most cost effective ways to do this conversion. <br /> We hope we can work together with staff on finding creative solutions during this development process. <br /> Please keep in mind that allowing the redevelopment of this site into single family homes will <br /> bring life back into the River Park neighborhood.We are confident that this conversion from TH to SF is <br /> the best use of the site and also the quickest way to get this development to the finish line. <br /> Thank You, <br /> Q�4 9) <br /> Chase Peterson <br /> Source Construction Capital <br />