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Mr. Zach Carlson January 10, 2022 <br />City of Elk River Planning Page 2 <br />Project Overview <br />4125 Sub S Corp is proposing a mixed-use development featuring ground-level commercial <br />space along Main Street (approximately 4,000 square feet) with three levels of rental housing <br />above. The development will feature a main 4-story building with 55 units. However, the north <br />portion of the site is planned for a second phase of townhomes should site acquisition proceed <br />rd <br />on the remaining single-family home along3Street NW. <br />The following summarizes the proposed concept. Site plans and renderings are located in a <br />separate PDF file attachment. <br />Main & Gates Project Overview <br />Lot Area (Acreage)1.73 <br />Proposed Units55Units/Acre32 <br />ZoningC2 (office)Proposed ZoningPUD <br />Gross Sq. Ft.112,536Commerical Sq. Ft.3,967 <br /># of Stories4Bldg. Height48'8" high parapet <br />45'8" low parapet <br />SetbacksParking Stalls91 total <br />Front - Main Ave.10'Underground51 <br />Side - Gates 5'Surface41 <br />Sides 15'Stalls/unit1.65 <br />Unit Mix (subject to change)Est. Project Cost$14,300,000 <br />1BR9 <br />1BR + Den4Est. Ann. Property Taxes$137,500 <br />2BR20 <br />3 BR22 <br />3BR Townhomes*8 <br />* Future 2nd Phase <br /> <br />The proposed land uses would provide a transitional buffer between the commercial land uses <br />along Main Street and those residential uses to the north of the subject site. We believe the <br />proposed mixed-use approach will complement all the surrounding land uses. Furthermore, <br />the site has a potential to be a catalyst site for other redevelopment opportunities near the <br />downtown area and the Main Street corridor. <br />the mullins group <br />