DRAFT 171ST STUDY 04-27-2009 - Laserfiche WebLink

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IMPLEMENTATIOP STRATEGIES FOR DEVELOPMENT & REDEVELOPMENT Implementation of the master plan is not a single action, but a series of steps. These steps will be taken over time in phases. Initial focus should be on several implementation initiatives that lay the foundation for change. Initally, public investments such as street and infrastructure improvements will play a key role in setting the table for private development to occur in the FAST. Part of this strategy becomes the effective use of finance tools available to the City. Phasing To act as a basis for analyzing implementation issues and to focus in on first steps needed to begin development and redevelopment, a phasing plan has been created (see Figure 7.~). The phasing plan builds from other known investments and responds to site readiness. It is anticipated that full development of the i7~st Avenue FAST will take roughly z5 years to accomplish assuming a return to a relatively stable & growing real estate marketplace. The phasing plan suggests two general phases marked by the transition of Highway ~o~i6g to a limited access freeway, and remaining areas suggested as retain~infill areas. Earlier Phases There are two districts suggested for earlier phase development totaling roughly 57 acres. They are the East Elk River Gateway District and the Hinge District. Development here possess the most financial and market feasibility. However, development in these areas must follow the new infrastructure investments which will establish the framework for future development. Later Phase The later phases of evelolution will likely occur with the transition of Highway io~~6g to a freeway and as ridership builds on the commuter rail line. Before these areas "ripen" for redevelopment, they will need to respond to the shift in transportation patterns and build on the financial infusion of earlier phase projects. Retain / In fill: There are three areas of the FAST labeled in the phasing plan as "retain~infill". These areas are not suggested for active pursuit of redevelopment because of the quality of development. These areas include the Northstar Business Park, Elk River Station and the small pocket of single family housing around Kleivers Marsh. These areas of infill are independent of the phasing schedule.