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2. HRSR 09-13-2005
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2. HRSR 09-13-2005
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8/14/2013 9:18:03 AM
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City Government
type
HRAG
date
9/13/2005
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FREERS <br />& ASSOCIATES INC <br />~~~~~~ ~~ <br />To: City of Elk River i <br />Housing and Redevelopment Authority ~,-,1,,.;~ ~~~~, <br />Planning Commission <br />W Heritage Preservation Commission ~~~`~~~ <br />From: Dave Callister, Ehlers & Associates <br />Subject: Market Feasibility Feedback -Downtown North of Highway 10 <br />Date: September 13, 2005 <br />Process <br />Ehlers and Associates was asked to obtain feedback from the development community as <br />it relates to market feasibility for the Refined Redevelopment Concept as recently <br />determined by the HRA. Ehlers sent out materials including the refined redevelopment <br />concept map, aerial photos, draft of the purpose, goals and objectives for this area, traffic <br />counts as well as information regarding the comprehensive plan and zoning ordinance. <br />The developers reviewed this information and visited the redevelopment area prior to a <br />meeting to discuss their thoughts regarding the concept plan and the market feasibility of <br />several different housing, mixed use and commercial products. <br />Developer Feedback <br />In summary, a number of issues were listed by the developers as common themes, <br />including: <br />^ Redevelopment must complement and not compete with the downtown area <br />^ Biggest redevelopment challenge is land assembly. The large number of parcels <br />and property owners may limit the size and scope of redevelopment. Any <br />redevelopment must be multi-phased and would need plan for public/private land <br />acquisition. <br />^ Cost of land acquisition would make redevelopment difficult without city <br />assistance and/or increasing housing densities. <br />^ Developers agree that Phase I is most likely building center site <br />^ Locating housing near railroad may create some issues. This could be offset by <br />providing a natural buffer between railroad tracks and development. This could <br />be utilized as green space or walkways bikeways <br />Dave Callister, Financial Advisor 651-697-8553 Fax: (651) 697-8555 <br />3060 Centre Pointe Drive dcallister@ehlers-inc.com <br />Roseville, MN 55113-1105 http://www.ehlers-inc.com <br />
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