09-06-2022 Council Work Session Packet

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WS — Item 3 WORK SESSION STAFF REPORT Work Session Item No. 3 Date: September 6, 2022 To: City Council From: Michael Grochala, Community Development Director Re: Lake Drive/Main Street Redevelopment — Anderson Companies Background The 5 acre Carpenter property and abutting 4.5 acre Bigco property have been on the market since early 2021. Over the past year and half staff has been working with the property owners and potential developers regarding development options on the 9.5 acres. The site includes an auto salvage yard that has been in existence for over 40 years, vehicle sales lot, nonconforming exterior storage uses and a contractor shop. It is likely some environmental cleanup will be necessary to facilitate redevelopment of the site. The property is currently zoned GB, General Business District and LI, Light Industrial District. The City's 2040 Comprehensive Plan guides the properties as a Signature Gateway District. The Signature Gateway District is reserved for high visibility, high traffic corridors serving as an entrance to the Community. The district allows for commercial uses and high density residential uses at a density of 8.0 to 10.0 units per acre. Up to 15 units per acre may be allowed if the project meets the City's housing goals. The district allows for development of multiple complementary uses on a single site including a combination of higher density residential, commercial services, and employment opportunities. Anderson Companies began working on a redevelopment project in October of 2021. In November of 2021 a joint meeting was held with the development team, City Council and advisory boards to discuss possible development options. At that time Anderson Companies was proposing a project with upwards of 300 residential units on the site. Comments made at the meeting generally centered on the following themes: • Reduce the density and scale of buildings adjacent to existing residential. Density should be consistent with Comprehensive Plan. • There should be a commercial element • Plan should be incorporate abutting properties • Transportation issues will need to be addressed In response to comments received at the meeting Anderson has been working to adjust the development footprint and density. They have reached out to abutting property owners and discussed possible land assembly into the project. The updated project proposes a senior community with townhomes abutting the existing single family lots to the north and west, a main