7.0. HRSR 06-27-2001 - Laserfiche WebLink

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II, I[, , • PROJECT APPROACH i ti i' In response to the City's desire to spur private redevelopment and investment activity in downtown Elk River, and the interest by our development team to 17 work in collaboration with the City and develop a viable mixed-use project in the downtown area, the focus of our interest is the site at the southwest corner of Main Street and Highway 42 on the south end of the core central business dis- trict of downtown (shown on the attached map). The City of Elk River commissioned Maxfield Research a Market Potential Analysis for Downtown Elk River which was completed in April of 2001. The report analyzes the commercial and residential market potential for the down- town, and identifies several potential redevelopment sites in the area(including the site in question). Each of the sites identified inthe study have varying potential for redevelopment and use within the context of the current land use patterns, physical constraints and market potential in the area The site in question presents an excellent opportunity to be the "key first proj- ect"that will set the tone for an overall revitalization plan and strategy for down- town Elk River and will accentuate the City's vision for the Mississippi o III Riverwalk. o0 The River Village team is taking what we like to call an "open book" develop- 0 ment approach to downtown Elk River. This approach begins with the under- -a standing that concerns and opportunities identified by residents and staff will be fundamental to the overall goals for the project. Some of these concerns and ._,—, opportunities include: o • Utilizing the Mississippi River to its fullest and best use for both private y and public venues • Maintaining a historic charm to the CBD 0. • Keeping a pedestrian friendly CBD i `Q • Implementing a complimentary mix of different types of space 0 n I N The approach we will take is to start with a clean slate and master plan the entire site. This includes developing an understanding of the implication and opportunities for surrounding adjacent uses in the downtown area. As the proj- f _ ect moves along different challenges and new opportunities will present them- = selves. Our process allows for interactive participation by residents, city staff, , c and council input. Key components throughout the process are: L'i1 • Direct resident input via surveys and locally held design meetings �Ir . � • Active involvement from the HPC, HRA, Planning Commission and City i o �, Council 3 ° - Q