05-24-1982 PC MIN - Laserfiche WebLink

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Planning Commission Minutes May 24, 1982 Page Five Laura Manske, representing Barthel, indicated that as of today, Barthel has gotten oral or written leases from the anchor tennants (Super Valu, Ben Franklin, Snyders, and a hardware store). The total square feet of these equal 50,000 square feet. There is 45,000 square feet of retail space left for smaller tennants. Barthel has gotten interest from a very small portion of smaller tennants coming from the dotvutotVU of Elk River. This leaves 37,000 square feet to come from out of Elk River. Chairman Tracy asked Ms. Manske if there has been an interest from outside the City. Ms. Manske indicated that there has been. An example would be such types of shops as fabric shops, formalwear shop, and something on the order of a catalog store. Ms. Manske also felt that the 39,000 square feet of available retail space could be filled. Commissioner Gunkel asked Ms. Manske how long it would take to fill up 39,000. square feet of retail space. Ms. Manske indicated that once financing has been finalized, it would take 6-7 months to fill the space. Zack Johnson asked the City Administrator if the 75,5000 square feet of total need and the resulting 41,500 of available space for the PUDs, did this take into account the 47,000 square feet that was just approved. Rick Breezee indicated to Mr. Johnson that the 47,000 amount was approved 2 years ago. Chairman Tracy opened the Public Hearing at 8:40 p.m. Don Anderson indicated that vacancies would be created downtown. He asked who did the market study for Barthel. He also indicated the do\mtown's concern of the economics of the PUD. Marlin Hutchinson, Barthel Construction, indicated that when they started the ground- work for this PUD seven months ago, the used Zack Johnson's 1979 study. Mr. Hutch- inson indicated that Zack Johnson, in that study, had made some projections to 1985. Barthel was going along with that study. Mr. Hutchinson indicated that there was another study used, done for Otsego To\vuship. Mr. Hutchinson also indicated that Zack Johnson has reduced his projected for population growth by 78% of what was anticipated in 1979. Mr. Hutchinson indicated that he does not feel Barthel is sat- urating the market. He also does not think the Barthel PUD will kill the downto\Vll area. Mr. Hutchinson indicated that this size of shopping center is the size that will work. Mr. Hutchinson further indicated that with the people that Barthel has contacted, these people indicated that they have people to fill the vacancies do\vu- town. In the central business district, there is only one store presently moving. Across the tracks, the grocery store is the only one interested so far. The City Administrator asked Mr. Hutchinson where the demand was demonstrated to fill the vacancies in the downtown area.