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:~ NARRATIVE Introduction Falcon Heights Town Square is an exciting community driven mixed-use redevelopment of the .southeast comer of Snelling and Larpenteur Avenues. The project replaces a deteriorating 1950's strip mall with a compact urban town square consisting of a transit oriented, mixed-use residential and retail commercial development. Construction is planned near the right-of--way composed of medium density, urban style buildings honoring the style and design of the existing neighborhood. The new development will include: • 119 multifamily rental units with underground parking; • 12,000 square feet of retail space; • 56 senior housing units with underground parking; and • 14 for-sale townhomes. The multifamily and senior rental units will have both market and affordable components. The Falcon Heights Town Square project provides a unique opportunity to demonstrate how inner-ring suburbs can contribute to a wider metropolitan area's community livability. Comprehensive Plan Project Goals 1) To prevent further deterioration and blight; 2) To provide badly needed life cycle housing; and 3) To ensure that any development is an amenity to the community. Project Features The Falcon Heights Town Square will include a mix of uses, including retail, restaurant, apartments, and townhomes. This site will has excellent access to at least two bus routes, the 12 and 6 routes on Larpenteur Avenue, and the 4 and 12 routes on Snelling Avenue. Under current transit plans, additional busses were added to these routes recently. A transit shelter will be included in the project at the Arona Street stop. The site will be integrated with the single-family residential neighborhood to the east and south through linkages with Curtiss Field, a city park to the south, and the widespread use of sidewalks and other pedestrian amenities. This project will provide an important source of lifecycle housing in Falcon Heights. The rental units will be heavily marketed to seniors, and may have the effect of opening up single-family homes to new owners with young children. With excellent access to hundreds of jobs at the University of Minnesota, both downtowns, and in the Midway area of St. Paul, there are many opportunities for employment in a one-mile radius, as well as a five-mile radius. Access to Curtiss Field, a popular city park, will be emphasized, and improvements to the park will take place in conjunction with the redevelopment. There are also many retail and service businesses within one block of the site, including dry cleaners, restaurants, banking, and recreational opportunities. Existing Conditions • The 4.6-acre property is currently home to an aging and decrepit shopping center built in the late 1940's and early 1950's. It is zoned B-3.