7.2. HRSR 07-28-2003 - Laserfiche WebLink

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the Mississippi River to evolve over a period of time either with individual ownership or IPwith a more generalized development entity such as MetroPlains. Brick Block We believe that by establishing the focus in the core area of Main Street and Jackson Avenue and those buildings that are truly the anchors to the corner, would allow for a redevelopment of the site behind the Brick Block which is on Main Street and King Avenue, becomes the first step in the revitalization of this area. This development would consist of four-story brick/masonry structure with approximately 75-90 units of housing over 7,000 sq.ft. of commercial space that would front Main Street. Site size is approximately 56,000 sq.ft. Estimated construction cost for the development is $7,891,000. Gazebo Block Simultaneously, or separate would be the area across Jackson Avenue which is called the gazebo block which could be developed as a combination housing and commercial and/or as an independent opportunity for the Art's Alliance. This concept would need further exploration depending on the needs of the Art's Alliance. Bluff/Nadeau • Independent and simultaneously with this along Main Street would be the Bluff/Nadeau block as it's termed, which would allow for a residential and commercial development along the Mississippi River and Main Street of which this particular allows there to be a gateway established that gestures towards the intersection of Highway 10 and County Road 42, which also happens to relate to the bridge over the Mississippi River which eventually leads into the new redevelopment of downtown Otsego. This development would consist of four-story brick/masonry structure with approximately 75-90 units of housing over 8,000 sq.ft. of commercial space that would front Main Street. Site size is approximately 58,000 sq.ft. Estimated construction cost for the development is $7,480,000. This site would be set up as initially as a rental with the opportunity for conversion to condominium, for-sale, and ownership. City Park The last piece is the existing public park which we believe should happen commensurate with the evolution of this development to create a centralized focus boardwalk seating area overview potential, not really an amphitheater but a staged area that works it's way down the slope to the Mississippi creating a true central heart focus area for the downtown. If developed correctly this could be used in conjunction with the Art's Alliance for exterior and outdoor activities which could overflow into the Art's Alliance structure as it would be located in the central core area.