3.0. HRSR 05-08-2001 - Laserfiche WebLink

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CONCLUSIONS AND RECOMMENDATIONS • Core CBD The Core CBD is the retail heart of the Downtown and is located directly on the Mississippi River. The strengths of the Core CBD are its location adjacent to the River, its convenient access and high visibility from Highway 10, and the existing inventory of turn-of-the-century buildings. While the Mississippi River and Highway 10 are strong assets, they also form a physical barrier to expanding the Downtown. This presents a significant weakness because the Core CBD is very small, making it difficult to create a critical mass of stores that would enable the Downtown to become a major draw, such as Downtown Stillwater, Minnesota. Combined with a lack of vacant parcels and the need to preserve most of the existing buildings, the Core CBD has fewer opportunities for large-scale redevelopment than the other two redevelopment areas. However, because of the existing character of the Core CBD and its location on the River, it has the greatest opportunity for a high-end development that would capitalize on these amenities. Despite the lack of space, we believe that the demand for 14,000 square feet of retail space over the next five years should be located in the Core CBD. Two areas that should be examined for development and/or redevelopment are the City parking lot on the east side of Jackson Street and the block along the south side of Main Street from the Highway 42 bridge up to and including • the vacant building at 641 Main Street (including Nadeau's, US Bank, and the vacant building at 641 Main Street). A map on page x shows the location of these two sites. These two sites present the best, and perhaps only, options for adding this space. While developing space along the east side of Jackson would be easier,because there are no acquisition, demolition, and/or relocation costs, the lost parking would have to be replaced, which presents a challenge. One potential option is creating a two-level parking garage behind the new stores on the existing Bank of Elk River parking lot. Redeveloping the block along the south side of Main Street presents its challenges because of the existing buildings. However, it also presents the greatest rewards. Being directly on the River is an amenity that would entice potential higher-end retail stores and offices to the location, who otherwise would not consider locating in Downtown. This site could support a mixed use development, with retail on the first level and office or housing located above. One of the Core CBD's greatest assets is the existing supply of older buildings, particularly the "Brick Block" (the west side of Jackson Avenue). Any new development in the Core CDB should be designed to fit-in and enhance the existing Downtown buildings character. Additionally, the City may want to consider a program for Core CBD building owners to provide low-interest loans/grants for façade and other building improvements. However, this program should be a part of an overall program that would provide design guidelines for streetscape improvements and a comprehensive vision for the visual appearance of the Downtown. •