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<br /> <br />Legacy at Woods Edge: Ms. Divine provided members with a request from the Hartford Group <br />to amend the Land Use Plan in the Legacy to accommodate the rental senior housing project that <br />will be 120-140 units, with facilities for different stages of senior living. The building would <br />wrap differently on site than originally planned, would have less commercial space, but would <br />allow a stronger commercial corner visible from the interchange. <br /> <br />She informed members that Hartford had also suggested to the council that because of the lack of <br />a market for condominiums, they would like to turn that project, which is next to the YMCA <br />parking lot, into rental. The development agreement with Hartford calls for a maximum of 40% <br />of the units to be rental, and 60% for-sale. This change would make the project about 60% rental. <br />This change was not well accepted by the council and it would likely be an uphill fight to get it <br />approved. She suggested EDAC consider whether they would recommend such a change or stay <br />the course, even if it takes longer. Mr. Helgemoe said the return market is likely two years out. <br />Ms. Schwartz noted she talked to a developer who couldn’t get rid of these units, even trying to <br />sell them at a loss. Ms. Lodico noted there are no apartments in Lino Lakes. Ms. Schwartz stated <br />that the new draft Comp Plan land use map has many more suitable places in the city for higher <br />density rental that the city’s “jewel.” The developer entered into this knowing the risk, and <br />knowing that the market could go down. Waiting a couple more years will be worth it, since this <br />is the city center that will be here for many years. <br /> <br />Mr. Corson stated that its worse to build and have vacant buildings than to have vacant land. <br />EDAC needs to know what the risk is of having the land sit vacant. A general consensus was that <br />EDAC does not want to compromise the plan and the quality of development. Ms. Schwartz <br />suggested a joint meeting with P&Z and city council in the future to discuss these issues. <br /> <br /> <br />Meeting adjourned. <br /> 2