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MINUTES <br />CITY COUNCIL <br />JANUARY 23, 2002 <br />foot subsidy to make the retail work. Farnham reported that he has conferred with <br />Towle Real Estate and they anticipate the space would be suited to medical/dental <br />users. Above the retail space, Farnham proposed 3 to 4 floors of senior housing. <br />Fahey asked if eliminating the retail component would make the project more <br />feasible, thus providing more resources to acquiring and relocating existing <br />businesses in the area. Famham pointed out that the corner of Rice Street and Little <br />Canada Road is so essential to the beginning of the City's redevelopment process that <br />he agrees the retail must start at this corner. He is hoping that once this retail is <br />developed and is successful, the rest will redevelop from there. Farnham reported <br />that Towle Real Estate is saying that for the retail to be successful, it must front on <br />Rice Street. Farnham felt that design details could be worked out that would meet <br />this need as well as the City's redevelopment goals. <br />Farnham pointed out that the rents he is projecting for the senior units are high, but <br />noted that this is the most affluent group of seniors that the country has had. There <br />are a few one-bedroom units proposed, but most are two-bedrooms with two baths. <br />Farnham reviewed the assisted living components as well as the cottages that provide <br />a transition from the property on the north to the south. He indicated that they would <br />put in as many cottages as they could. Farnham reported that a dense development is <br />needed in order to support the retail component of the project. <br />Famham pointed out that the first step would be for the City to select a developer, <br />and then the details of the development would be worked out. Famham suggested <br />that the City select a developer it can trust. <br />Knudsen asked about the office buffer between the retail floor and the senior housing <br />floors. Farnham felt it provided a good noise buffer, but got the senior units higher <br />and away from traffic noise. <br />The Council thanked Farnham for his presentation. <br />METRO PLAINS Laverne Hanson, Metro Plains, appeared before the Council Co present their proposal <br />for up to 19,000 square feet of retail space, 80 units of market rate senior housing and <br />42 townhome units. Hanson presented the history of Metro Plans as well as their <br />development experience. Hanson reviewed their concept plan in detail that included <br />a 14,000 square foot phase of retail with the possibility of an additional 2,000 to <br />5,000 square feet. Hanson felt that a total of 8,000 to 10,000 square feet of retail was <br />more realistic. He also pointed out that they are proposing to building 42 units of for- <br />sale townhomes and described the styles of these townhomes. Metro Plains is also <br />proposing 80 units of market rate senior housing above the retail. Hanson indicated <br />that the building concept they are proposing will create a gateway and entrance into <br />the community. Hanson stated that the project is a difficult one and this is a difficult <br />