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We will pair existing, conditions assessment with
<br />an LCG-Led market research of socicieconornic,
<br />economic, aind real estate daita. We will also
<br />identify land use and development opportunities,
<br />highlight development constraints, explore
<br />potential models for future development, and
<br />calculate derriand and market potential for
<br />residential, commercial, industrial, and other
<br />uses. In additiion to the staindard data sources
<br />like CoStair, Census/ACS, and Bureau of Labor
<br />Statistics, we also incorporate niew data sources
<br />such as Placer Al cellphone- based location
<br />intelligence data will be used to ensure Our
<br />analyses are tailored to the specific physical,
<br />iniarket, financial, aind regulatory conditions of the
<br />study area.
<br />To better understand the economic opportunities
<br />In Elk River, LCGi must first understand how
<br />the market is perceived by stakeholders. LCG
<br />will supplement quantitative market analysis
<br />with targeted stakeholder outreach (conducted
<br />both on -site and virtually), which may include
<br />developers and brokers, major landowners and
<br />business owners, financial/pending institutions,
<br />educationiall institutions, and other economic
<br />development partners. The market analysis will
<br />include the identification of potential catalyst
<br />redevelopment sites and proposed uses for
<br />each that can be incorporated into the
<br />implementation plan.
<br />We will compile existing conditions and market
<br />analysis findings into an existing conditions memo,
<br />which will use graphical representations of key
<br />findings and supportive text.
<br />PRO I If,, I A PPR JA U�
<br />The existiing conditions assessrnierrt may identify
<br />smaller character areas, such as, the corridors
<br />leading into downtown, in order to focus and
<br />orient concept scenarios, recommendations, and
<br />overall plain composition,
<br />TASK 2 DELIVERABLES:
<br />• Draft andi final conditions memo with
<br />associated graphics, exhibits, and narrative
<br />• Character area maps and descriptions
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<br />Using inforrinabon aind feedback gathered, out
<br />team will explore thematic concepts that outline a
<br />framework plan for downtown, focusing on each
<br />character area. The plan will describe conditions
<br />and opportunities for the downtown area and
<br />ascribe recommendations. We proposed three
<br />frameworks to cover:
<br />Development: Land use and development scale,
<br />density, patterns, and desired redevelopment
<br />concepts; block patterns and scale; targeted
<br />economic development opportunities.
<br />Connectivity; Multiniociall connectivity, access, and
<br />circulation with a focus on active transportation;
<br />readiness for future planned transportation
<br />projects.
<br />Open Space: Placemaking opportunities and
<br />locations for new or enhanced public spaces;
<br />preservation of natural spaces; connections to
<br />and views of the river; streetscape enhancements;
<br />leveraging sustainable design and systems towards
<br />a more resilient downtown and corridors.
<br />Each f rarnewo rk plan can stand alone„ however,
<br />their strength comes from the ways in which they
<br />reinforce each other. Together, the plans will serve
<br />as a leris to organize an implementation plan and
<br />align future publlic and private actions.
<br />The framework plan will be described in graphics
<br />and narrative to ensure it is easily understandable
<br />to the general public, and able to be reviewed and
<br />refined by key stakeholders.
<br />TASK 3 DELIVERABLES-
<br />• Draft and final framework plans, to include, at a
<br />minimum, all above elements
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