My WebLink
|
Help
|
About
|
Sign Out
Home
Search
12/06/2007 EDAC Minutes
LinoLakes
>
Advisory Boards & Commissions
>
Economic Development Advisory Committee
>
Minutes
>
2007
>
12/06/2007 EDAC Minutes
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
5/5/2022 3:45:16 PM
Creation date
5/27/2015 8:56:03 AM
Metadata
Fields
Template:
EDAC
EDAC Document Type
EDAC Minutes
Meeting Date
12/06/2007
EDAC Meeting Type
Regular
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
2
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
<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
The URL can be used to link to this page
Your browser does not support the video tag.