7.2. HRSR 08-25-2003 - Laserfiche WebLink

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Downtown Revitalization Project Update August 25,2003 HRA Meeting Page 4 of 5 lineal feet to cross the highway and build access points to the ground level on each • side. This would lead to a project cost of several hundred thousand dollars. By means of comparison,the pedestrian bridge constructed over TH 169 several years ago had a total project cost in excess of a half million dollars. Highway 169 is a g P J � aY much wider roadway,but the design and location of that pedestrian bridge required virtually no access ramps to be constructed on either side. Q What are the estimated construction costs for renowl of the Municipal Utilities Building on King Avenue,closing up the access onto TH 10 and constructing parking lot on this entire area? A: Utilizing the layout prepared by Planner,Chris Leeseberg and assuming that this would be new construction rather than trying to save any of the existing infrastructure,the estimated cost is$212,000 plus the removal of the Utilities building. Assuming no environmental issues,which would be relatively difficult to predict at this point, an estimated cost to remove the Utilities building,including basement walls and floor,and dispose of the debris in a proper fashion would be $45,000 to $50,000. Q What are the action steps necessary to renoze the Utilities Building closing King Avenue,and constructing a parking lot in this area? A. The following steps are required: • Meet with MnDOT regarding the closure of King Avenue • Meet with adjacent property owners (School District&First National Financing • Center) regarding design and impact to their parking lots • Joint meeting with HPC regarding removal of the Utilities Building • Determine if the City would maintain the right of way to King Avenue Q. Whatzenuld be the cost of adding a parking ramp one level high to the King Avenue parking lot? A: Typically, a one-level parking deck cost runs approximately$11,000 per parking stall. Each stall,including the share of driving lanes would be approximately 320 square feet. In practical terms a minimum size parking deck would be 64 ft.x 100 ft.long (approximately 20 stalls). Sixty-four feet would be a driving aisle with two parking stalls on either side. Of course,the deck could be made much larger than this, but that would be the minimal size with an efficient layout to utilize the$11,000 estimate per parking stall. Costs for the lower level,the at-ground level,have been provided in the above answer. Miscellaneous Issues Q. What is the resident profile for tenants of the Jackson Block apartments? A. Resident selection criteria and background checks performed help to assure quality of tenant. Based upon a compilation of information taken from both the market analysis of Elk River and MetroPlains'past experience of similar projects it has developed in Central Business Districts in both large and small communities,the following resident is anticipated: • Average Age: 25 - 35, and 55 and above • Combination of singles and couples,but primarily singles S:\Downtown Revitalization\Memos\8.25HRA.doc