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4752791 P.02 <br />Laurent Parks <br />Development <br />March 21, 1997 <br />Mr. Joel Hansen <br />City Administrator <br />City of Little Canada <br />515 Little Canada Road <br />Little Canada, MN 55117 <br />Dear Joel, <br />Per your March 5, 1997 letter for information on a new concept for Rice Street /Little <br />Canada Road, we have assembled our thoughts as follows: <br />New Office Space: The typical office space user is looking for a office building with <br />quick access to the freeway system, excellent parking, high visibility and affordable <br />rents. We don't believe this site fits those requirements well, and in turn we don't <br />see tenants moving to this site. <br />There are small office tenants in the neighborhood who would consider second floor <br />space of a retail environment, but those rental rates would have to be competitive. <br />In the event the homes along Round Lake were removed and the retail strip center <br />was removed, there is a chance that stand-alone buildings facing Little Canada Road <br />and Round Lake would work. These buildings could have front yards complementing <br />the park along Round Lake with all the parking to the rear of the buildings. <br />Retail: The demographics of the area indicates that there are a large number of <br />households with two family incomes. These type of households have an excellent <br />combined income but not much leisure time. These retail clients want service retail. <br />Retail that has ample parking near the front door and easy access to the main streets. <br />We see this type of' retail, including numerous types of businesses from coffee shops <br />to dry cleaners. <br />Concept: We feel the majority of this area needs to be developed as a retail center. <br />Little Canada Road would be closed from Middle Street to Rice Street. Lots 1 and 2 <br />would house the retail center. Because of the size of this lot, much could be done <br />with common areas, parking and architecture, to bring about the "village" feel. Office <br />space on the second floor of these buildings would have to be looked at. <br />155 East Lake Street 1 Wayzata, MN 55391 1 Fax (612) 473-8813 1 (612) 475-4930 <br />Page 17 <br />