7.2. HRSR 07-28-2003 - Laserfiche WebLink

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Memo to HRA July 28,2003 Page 3 • Project Description Currently there are two projects under consideration;the Bluff Block,which will occupy the location of Nadeau's,U.S. Bank,and the ECM building. The building will be a mixed use building which will include 52 units of"for sale" housing in the$150,000 - $275,000 range, 10,000 square feet of commercial on the first floor with rents averaging$13.00 per square foot, and 70- 80 below grade parking stalls for residential and commercial tenants. The second component of the project is the Jackson Square development which will occupy a portion of the City-owned Jackson Square parking lot. The project includes 10,000 square feet of commercial on the first floor with rents averaging$13.00 per square foot, and 16 one- bedroom units renting at$600 per month and 16 two-bedroom units renting at$700 per month. In addition,there will be 52 underground parking stalls for the residential and commercial tenants. Project Components and Impacts Parking Dor ntacen Parking Requirements In the Central Business District,there are no code requirements. For past projects,the City has attempted to have uses provide a minimum of 50% of the required parking spaces. However,to • determine the number of spaces that would be required of the uses in downtown, staff reviewed the types of uses and the parking that is provided by each (see attachment "Downtown Parking"). Parking ratios were based on the following: Retail: 1 space for every 200 square feet Office: 1 space for every 250 square feet Living Units: 2 V2 spaces per unit (14 units in downtown) From the analysis,it is clear that the uses in downtown only provide 2/3rds of the spaces required by code. Since the inception of the downtown studies,parking has always come to the top of the list as the primary concern of downtown business owners and tenants. Staff has assembled a number of drawings to illustrate the number of parking stalls available within the downtown parking area. Currently,between on-street parking of Main Street, King and Jackson Avenues, and the two public parking lots there are 240 public parking stalls. There is private parking provided by Dare's,The Bank of Elk River,First National Bank of Elk River,Nadeau's,U.S. Bank,and behind the Sunshine Depot. The private parking areas were not considered when staff completed a series of parking surveys in the downtown area over the past week. Project Impacts Jackson Square • The analysis of the Jackson Square project indicate that 21 out of the 39 public parking stalls located at Jackson Square would be removed with the proposed 3-story mixed-use building. All 39 stalls will be removed or be unavailable during the period that the building is constructed. S:\PLANNING\Michele McPherson\MEMOS\7-28 DT memo HRA.doc