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<br />• Provide stable, affordable senior housing for “the notable increase in apartment rental needs in <br />Elk River by members of the baby boom generation.” (page 78) <br /> <br />• Provide 55 units of affordable housing within a half mile of the Northstar Commuter Rail Station. <br />“Affordable housing is important to a strong economy and a healthy community.” (page 79) <br /> <br />Consistent with the FAST Plan <br /> <br />• Accomplishes all the planning and zoning objectives for the 175th Avenue and Twin Lakes Road <br />site in FAST Hillside Heights subarea. (page 55) <br /> <br />• Density will be 26 units/acre. (page 38) <br /> <br />• Building will be stacked three story residential. (page 38) <br /> <br />• Offers a variety of housing options. (page 55) <br /> <br />• Attractive streetscape and pedestrian connection along Twin Lakes Parkway. (pages 55-57) <br /> <br />• Innovative stormwater practices (considering permeable paving, rain gardens, underground <br />tanks) and energy generation (considering geothermal, solar ready). (page 59) <br /> <br />• Open space connections and views. (pages 41, 46, 55) <br /> <br />• Landscape buffers. (pages 41, 46) <br /> <br />• Paths and crosswalk to the commuter rail station. (page 40) <br /> <br />• Site is located in the early Phase 1 project area where FAST concludes TIF will be needed to <br />implement the master plan. (pages 62,67, 71-74) <br /> <br />Demonstrates long-term benefits to the community <br /> <br />• The development will provide long-term, stable workforce and senior housing to approximately <br />55 households. <br /> <br />• CHDC intends to own the development indefinitely. It will be a good neighbor and ensure the <br />development remains a community asset for decades to come. <br /> <br />Increases the number and diversity of jobs that offer stable employment and/or attractive wages and <br />benefits <br /> <br />• The building will employee at least two on-site property management staff with salaries <br />estimated to be around $50,000 each. <br /> <br />• The project will create 150 temporary construction jobs at an estimated $51.00 per hour.