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<br /> CAPSTONE HOMES, INC. 14015 SUNFISH LAKE BLVD, SUITE 400 | RAMSEY, MN 55303 O: 763-427-3090 | F: 763-712-9060 <br />Mr. Zach Carlton June 24th, 2024 <br />Community Development Director <br />City of Elk River <br />13065 Orono Parkway <br />Elk River, MN 55330 <br /> <br />Mr. Carlton <br /> <br />Capstone Homes is presenting for consideration a plan, to develop 250 acres of Mississippi Riverfront, into <br />an exciting new mixed residential community. The Specht Family Farm is located at 16330 US Highway 10, <br />running adjacent to the Mississippi River. The Mississippi River creates extraordinary opportunities as we <br />consider the neighborhood’s design. <br /> <br />The City of Elk River adopted an amended Comprehensive Plan update in 2023. In the plan, the Specht <br />Family Farm is guided for a Mixed Residential Neighborhood. As guided by the Comprehensive Plan, this <br />type of neighborhood would primarily consist of a variety of residential homes. Capstone has a diverse <br />house plan mix that will meet this requirement and fill the moderately sized lots. Capstone has begun the <br />process of designing and engineering this site to meet the desired comprehensive plans goals while <br />providing careful consideration of the Mississippi River corridor. During the initial portion of design review, <br />Capstone and our team will be seeking feedback from the city regarding the nature and direction of design <br />for the neighborhood. <br /> <br />Details associated with this Neighborhood development plan will be shared for review by City Staff, <br />Planning Commissioners, and City Council members as we begin the design process. We look forward to <br />meeting with, and seeking feedback at the upcoming Workshop where we will present our initial base plan <br />and a vision for meeting the growing residential needs of Elk River. <br /> <br />Thank you. <br /> <br /> <br /> <br />Matt Barker <br />Capstone Homes <br />14015 Sunfish Lake Blvd, Suite 400 <br />Ramsey, MN 55303 <br />Email: mbarker@capstonehomes-mn.com <br />Phone: 612-219-8041 <br />Page 70 of 72