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44 <br />Lead <br />Implementer City Community Development, City Public Works <br />Partners Private Developer, HRA, EDA <br />Timeline Planning and design should begin over next 1-5 <br />years; Implementation beginning by 2027 <br /> KEY COMPONENTS <br />• New mixed use and single unit residential development <br />• Active ground floor with direct access onto Main Street <br />• Pedestrian-scale design and frontage along Main Street <br />• Above-floor office or residential uses <br />• Attract a hotel to east side of the block <br />• Negotiated new public park extension along the <br />riverfront <br /> <br /> <br /> <br />NEAR TERM <br />NEAR TERM <br />ONGOING <br />Continue outreach <br />and communication <br />with current site <br />owners, to track <br />with and evaluate <br />redevelopment <br />opportunities, and <br />timing. <br />Begin networking <br />with and positioning <br />downtown for a <br />hotel by building key <br />relationships and <br />attending industry <br />events. <br />Consider on a case- <br />by-case basis the <br />mutual benefits of <br />city acquisition of <br />sites, to facilitate <br />assembling <br />redevelopment sites. <br />Develop preliminary <br />infrastructure <br />designs and <br />details for public <br />infrastructure into <br />and around the site. <br />These plans should <br />clearly delineate <br />pedestrian crossing <br />locations and the <br />redesign Main St. <br />Prepare for future <br />park extension on <br />the south end of the <br />block by preparing <br />a conceptual park <br />site plan, to use in <br />owner and developer <br />discussions. <br />OPPORTUNITY AREA <br />King to Lowell <br />Priority= 0 -2 Years <br />Near Term= 2-5 Years <br />Med. Term= 5-10 Years <br />Long-Term= 10+ Years <br />Ongoing= Periodically / Opportunity-Driven <br />• Identification of key sites, preferably <br />along the river, that are suitable <br />for hotel development and zoned <br />appropriately to allow for an urban, <br />boutique-style hotel. This can include <br />sites suitable for both ground-up <br />development and adaptive reuse. <br />• Financial incentives such as <br />tax abatements, infrastructure <br />improvements, and/or shared planning <br />costs. <br />• Increasing visits to Downtown Elk <br />River through branding, high-quality <br />placemaking, and events that draw <br />visitors from throughout the region and <br />provide a reason to stay overnight. <br />• Building and maintaining relationships <br />with developers and key property <br />owners to identify potential <br />opportunities for partnerships. <br />Hotel Attraction <br />Attracting a hotel in this area could be somewhat challenging for Elk River, as it is not <br />yet a tourism destination, and few small boutique hotels have been built in the area in <br />recent years. However, as the City implements improvements that address connectivity <br />challenges and emphasize Downtown’s connection to the river, the prospects for a new <br />hotel development will improve. Strategies the City should consider to attract hotel <br />development include: <br />Page 114 of 157