7. HRSR 04-04-2005 - Laserfiche WebLink

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ITEM # ~' ~'"~ ~// City of Elk ---1 R1Ver MEMORANDUM TO: Housing and Redevelopment Authority evelo ment ~j om~c D P ~'" ROM: Heidi Steinmetz, Assistant Director of Econ F DATE: April 4, 2005 ss Potential Visioning Process for West Side of Downtown SUBJECT. Discu Attachments A x;12001 ~ primary Redevelopment Sites Map, p of Findings for the Western • Conclusions & Recommendations and Summary ril 2001 Transition Area, Ma~eld Research Market Analysis, Ap of downtown Elk River in Apri12001. Background Inc. conducted a market stud ~~cates a study area that ~e HRp' Maxfield Research, the HgA's study The attached Primary Redevelopment Sites Map ted in 2001. Maxfield identified three ~stlnct market areas within the Northern Area, and the Western designa area: the Core Central Business District (CBD , Transition Area. RA has continued redevelopment planning with two of the three areas: e recen Since 2001, the H D owntown Revitalization Project) and the Northern Area ( r . The HRA may wish to consider the Core CB (D visioning process for downtown North of Hwy 10) velo ment planning efforts into a master redevelopment plan fo incorporating these cede p downtown. the HRA Issue rder to create a comprehensive master redevelopment plan for own ow , rocess for the west side of downtown (or In o a visioning p in 2004. may wish to consider un)esg~ g to the process conducted by the HRA Western Transition Area , of Findings endations and Summary Maxfield Research's attached Conclusions & Recomm • n Area suggests that the area has high potential for redevelopment for the Western Transitio to multi-family housing and some additional offices.