5.1. HRSR 10-04-2004 - Laserfiche WebLink

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Updated Research and Concept Options for Downtown North of Hwy 10 October 4,2004 HRA Meeting Page 2 of 4 • Issue The next step in the redevelopment planning process is the development of concept options. It is important to consider existing research of the area before considering the concept options. Updated Research Staff has been working to update existing research of the area to reflect the Study Area. The following three analyses were completed in 2001 for use in the Downtown Redevelopment Plan. • Market Analysis • Historical Significance Analysis • Building Condition Analysis The results of the updated analyses are as follows: • The Market Analysis has not changed. Support still remains for a shift to higher density residential and office/service versus retail in the Study Area. • One area and five specific homes were added to the Historical Significance Analysis. • 108 buildings were added to the Building Condition Analysis. Of the 108 buildings, 57%were considered to be in "good" condition, 31%were considered to be in "fair" • condition, and 11%were considered to be in "poor" condition. More details regarding the updated analyses are provided below. Market Analysis This analysis was completed by Maxfield Research, Inc. in April of 2001. The analysis examined the potential for housing,retail and office development in Downtown Elk River through 2010,which included land use recommendations as indicated in the attached Primary Redevelopment Sites map. In 2001,Maxfield summarized downtown north of Hwy 10 as follows: "The Northern Area features a mix of retail and service businesses, offices, and housing east of Jackson Avenue, and industrial uses west of Jackson Avenue. While the Northern Area can benefit from its convenient access to the Highway 169 commercial areas,redevelopment potential is limited by poor visibility from Highway 10 and no frontage along the River". In addition, some of Maxfield's 2001 conclusions and recommendations for the area include the following: • Area is better suited for redevelopment to office and services than to retail • Area not suited for additional retail, since it does not have great access and visibility from Highway 10 and most potential retailers would likely shy away from this area, in favor of better visible shopping space in the Core CDB or along Highway 169 •