01-23-2002 Council Workshop Minutes

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MINUTES CITY COUNCIL JANUARY 23, 2002 David Graham, architect, reported that they have been involved in many redevelopment projects. Graham reviewed the site plan which consists of 25,000 square feet of retail, with two to three floors of market rate senior housing above consisting of 80 units. They are also proposing 21 for-sale townhome units on the property to the east, and the potential for 70 for-sale units on the property south. Graham indicated that the concept consists of apedestrian-oriented community. Fahey asked the type of retail that Sherman Associates envisioned. Sherman reported that he saw small neighborhood retail. Sherman stated that he felt 10,000 to 15,000 square feet of retail was very viable, and would not go above 25,000 square feet. He suggested that parking would need to be close to the building and suggested that retail parking areas could be placed on both ends of the building. Sherman also noted that the senior housing would need some common community space. He also indicated that to attract larger retail, it maybe necessary to provide some subsidy. Fahey asked if Sherman saw this as a retail project with senior housing, or as a senior project with some retail. Sherman pointed out that the numbers are stronger for the senior housing than they are for the retail. The senior housing will support a manageable amount of retail. Graham indicated that the critical mass is residential, but the retail will provide a transition from the street to the housing. Sherman pointed out the retail would need storefronts along the street, and the project will also have to have several bays of active community space for the senior housing. Graham envisioned alights-on, pedestrian-friendly retail/senior housing community, and not an apartment building. Fahey asked if Sherman would own the building. Sherman reported that of the 100 properties he owns, he has sold only 2. If the senior housing is to have an affordable component, then he would bring in an investor and he would work with some senior housing non-profits. Fahey asked about assisted living. Sherman indicated that he does not specialize in assisted living. He does develop senior housing that provides a variety of services. Sherman felt that the assisted living component is starting to saturate the market, and he did not believe the economic would work to develop this component of senior housing unless a service provider is brought in. Anderson asked what assistance Sherman would be looking for from the City. Sherman indicated that he would be looking for TIF assistance. He would expect to pay some money for the land. The for-sale townhome portion of the development would support itself.