6. HRSR 01-03-2005 - Laserfiche WebLink

Home Browse Search

~~ ~DG~l1f~~OG~1~li City of Elk ~. ' ~ JANUARY 21105 River Rwital~urtzo~ e ~s r e e -='"`" EnhancingDownto:un Elk Ricers Role As a Vitrcl Retail, Commercial anti Resiclentfal Area. Q. I understand the City has approved a final develop- ment agreement with MetroPlains. Does the approval of the final development agreement mean the project is a certain thing? A. No, not yet. While this is a very signifi- cant event there is still due dili e square feet of first floor commercial development along Main Street and Jackson Avenue: 32 rental housing units on the upper two floors and underground parking. The Jackson Block is currently aCity-owned parking lot. Q. What is the schedule for the project? A. The tentative schedule is as follows: p g ace This Q~'A newsletter that needs to occur on the art of the City and the developer. There are still a YeS~JOnClS t0 SOyYEe number of tasks that must be complet- , ed before construction can occur. 0 f the recent questaons These include construction drawings CIhOZit Elk R2UeY S andfiinal plat approvals, securing , financing, and acquisition of property. dOUlrltotUn Yev2talZzCltlOn Q A. and redevelopment. What is a final development agreement? The City Council approved the final development agreement with MetroPlains at the Council's meeting on December 6, 2004. The final development agreement sets out the phasing and timing of the project, the financial commitment of the developer, as well as any assistance provided by the City. Q. What type of development is proposed for the Bluff and Jackson Blocks? A. The revitalization will include the rede- velopment of the Bluff and Jackson Blocks; and the development of the King Avenue parking lot. Specific plans for Bluff and Jackson Blocks are below. The Bluff Block is located on the south- west corner of Main Street and County Road 42. It includes about 10,000 square feet of commercial space on the first floor along Main Street; 60-68 units of for-sale housing on the upper three floors, under- ground parking, and a connection to the City with a plaza on the corner of Main Street and County Road 42. The Bluff Block currently includes three buildings along the Mississippi River. • MetroPlains' acquisition of properties by Spring 2005; • King Avenue parking lot construction in Spring 2005 • Demolition and environmental remedia- tion in the Bluff Block in 2005; • Construction begins in the Jackson Block in Summer 2005 and is completed by the end of 2006; • Construction begins in the Bluff Block in Fall 2005 after the U.S. Bank building is vacated and demolished, and construction is completed by the end of 2006. ` ~. t + "O`~lJ~j j~fi, R . '~ ~, ~.~ ;' ~ ~. . ' :~ 4 i ". . -w ~,lZh, ~ ~.~, ~'~ r ~ r~~ _ i.~~ ... '~ ~ ~t -~ ~, ~ 1 ~3L~ ""~ ~~~ ~ The Jackson Block is located on the - ~ ~.,,~ __. _ `~ northeast corner of Jackson Avenue and - --. Main Street. It includes about 10,000 '" ~+ ~___ ~+ 1 r ~~ ~(j ^~x x ~- .., .. ,~ ~~ / ~ `- -.