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300 FIRST AVE N TEL: 6123393300 COMMUNITY PLANNING <br />SUITE 210 FAX: 612337.5601 LAND PLANNING <br />MINNEAPOLIS, MN WEB: DSUPLAN.COM URBAN DESIGN <br />55401-2609 LANDSCAPE ARCNITECTL <br />MARKET RESEARCII <br />TECHNICAL MEMO - MARKET OVERVIEW <br />DATE: October 24, 2006 <br />TO: City of Mounds View, Minnesota <br />Jim Ericson, Director of Community Development <br />FROM: Jay Demme, DSU/Bonestroo <br />RE: Market Overview <br />INTRODUCTION <br />�J VL <br />7� V <br />DSU <br />This memorandum focuses on the market conditions for residential and commercial development in <br />the City of Mounds View along a stretch of County Road 10 from Edgewood Drive and County <br />Road H2 to Woodale Drive. The analysis explores existing demographic conditions and trends and <br />the potential derived from the expansion of nearby Medtronic and the redevelopment of TCAAP in <br />adjacent Arden Hills. <br />STRUCTURE OF THIS MEMO <br />This memo contains the following sections: <br />• Community Assets Related to Development/Redevelopment; <br />• Critical Growth Issues; <br />Impact of Community Assets and Growth Trends on Redevelopment Potential for County <br />Road 10. <br />COMMUNITY ASSETS RELATED TO DEVELOPMENT/REDEVELOPMENT <br />The City of Mounds View holds many highly -marketable qualities. Its central location, stable <br />neighborhoods, and an increasing concentration of highly -skilled employment pique the interest of <br />prospective residents, businesses and developers. Due to limited reserves of developable land, <br />however, new construction of residential or commercial properties has been extremely limited over <br />the past decade. Through the targeting of strategic undeveloped or under developed sites, the City <br />has a unique opportunity to expand its residential and commercial base in order to capture some of <br />the ongoing and renewed energy being created along the Interstate 35W corridor. <br />This section of the report explains the City's strategic community assets and describes how these <br />assets strategically enhance County Road 10's redevelopment potential while underscoring the <br />market challenges for some types of development. Specifically, we discuss the City's location, the <br />location of the subject site, the residential base, and institutional/commercial strengths. <br />