HRSR INFORMATION 01-05-2004 - Laserfiche WebLink

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6A St. Cloud Times Local/regional From Page 1A Centre Square ill site plan Proposal specifics • St Cermala�i-Street Details of the latest Center D ,, fi Square Ili proposal: r, Proposed.parkingpram�x • Will create at least 100,000 square feet of space component makes downtown h u erberg r`s: ii in at least three above-ground that much more vital,"she said t levels. "A 24-hour downtown is a lot s a, ■ Could include one or two more attractive to new business € '�" a a 6 stories of apartments or condo- es and makes them easier to re- t Fe miniums. Tentative plans show cruit,"Gustafson said E� i 4 14 units. • Offers 45 underground Financial terms j -" parking spaces. The St. Cloud Housing and k A Will cost developers Redevelopment Authority is sub- 1,1 54 $8 million to $10 million, de- sidizing the Centre Square III " pending on size,type of space project with a discounted land l Proposed officelretadlf> First streef S tiff and skyway expenses. price. It is offering to sell a ; residential space • Construction could begin $300,000 lot for$80,000. Image source:Hagemeister and Mack Architects as early as spring 2004 and as The development also could be Times graphics by Mark Marshall,mmarshaH @stcloudtimes.com late as fall 2004. Completion is aided by about 11 years of re- on the second floor of Center scheduled for December 2005. duced taxes if the state approves Urban homes PP Square II,next to the proposed award contracts for that ramp in St.Cloud's request for a Job Op development site. The residential portion of Cen- January 2005 and have con- ter Square III could be marketed portunity Building Zone.Word If the need arose,we would struction finished by November on that designation could come certainly consider that space;" to young professionals such as 2005. ING workers,to older adults or as early as next week,HRA Di- said Brian M es head of opera- Marafie, the developer, has P to the extended-stay market,said rector Marshall Weems said. been known for commercial,sin- Marafie's at ING's St.Cloud office. project ect designer Murra Mack of Maraabl company, Arima The company has enough Hagemeister and Mack Archi- gle family residential and dis- LLC,is able to build on specula- space for the planned addition of tects Inc. tressed buyout projects primarily tion and lease or sell space,fi- in the Twin Cities area. He has 75 employees in 2004, Myres Residents could use a heated 410 nance officer George Van Houten said.Growth could creates ace business complexes dubbed said. Van Houten said he was P underground garage.Mack's de- "town offices"done or under con- confident financing will be needs after that.ING expects as- sign also calls for a central atri struction in Champlin,Burnsville, sets to grow from $19 billion um,a food court or cafeteria on arranged. Elk River and Winona. now to $35 billion by the end of the ground floor and a rooftop Marafie has worked in the Tenant search 2004. Its other call centers are plaza. Twin Cities market for about Arima has not yet entered talks in Los Angeles and Wilmington, A portion of property taxes 20 years. with one prospective tenant,ING Del. from Centre Square III will go Direct.ING,an Internet based "I think that's a natural tenant toward construction of an adja- Times staff writer Lawrence bank, has 300 call center em- for (Arima) to be talking to," cent city parking ramp south of Schumacher contributed to this re- ployees working in leased offices Ellenbecker said. Herberger's.City officials hope to port. 0