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Market Overview <br />Road 10 Redevelopment Study <br />Location <br />Mounds View is located <br />approximately nine miles <br />northeast of Downtown <br />Minneapolis and 11 miles <br />northwest of Downtown St. <br />Paul. Mounds View enjoys <br />numerous locational <br />advantages. The City is <br />situated in close proximity to <br />transportation networks, <br />major employment centers, <br />colleges and universities, <br />regional shopping centers and <br />numerous recreation spots. <br />Under consideration for <br />redevelopment is a site that, <br />until recently, contained a gas <br />station. The subject site is <br />1 <br />Iids� - 1 i Blaine` <br />65 •(� <br />Bro klyn;, <br />S. L ark <br />�.._.._.. <br />P rk <br />,_.._l_ <br />i i <br />N*"sIarc0mro0br <br />Fridley <br />Plarm" 09 <br />(Plan09d 30W) <br />� <br />a <br />P. -- <br />Page 2 <br />nowacoonyakpoN fH1 <br />N Runway Exp ... mmn <br />'rcle Pidea` <br />medhmnlc 1 u ao cnn.N'.Camuf Lino Lakes <br />rConJobsen, l.___.._.._.L.._.._..., <br />U. View .._.._.._..---- tcW <br />(9,00 12.00 <br />Subject rQt' l�n� <br />Property 1 <br />�.. <br />New I e --7 <br />Brighton ,Arden I <br />rL -, Hills <br />of subject site and important surrounding developments <br />located on the south side of County Road 10 just east of Edgewood Drive. Because of the limited <br />potential of redeveloping such a small parcel, consideration for redevelopment is also being given to <br />the prospect of assembling adjacent parcels that stretch between Edgewood Drive and Woodale <br />Drive. In addition to the favorable locational advantages noted in the paragraph above, the subject <br />site is also strategically positioned between two very large redevelopment efforts that will profoundly <br />affect the character of the region for many years to come; the Medtronic expansion and the TCAAP <br />site in Arden Hills. The map above displays the City of Mounds View (highlighted in orange), the <br />subject site (outlined in blue), and several important development projects located nearby. <br />Existing Laud Use and Urban Environment <br />County Road 10 is a four -lane divided highway that bisects the City of Mounds View. Until the US <br />Highway 10 bypass was completed several years ago, just north of Mounds View, County Road 10 <br />was designated as US Highway 10 as it was the main thoroughfare linking St. Paul and Ramsey <br />County to Anoka County and St. Cloud. Although no longer a US Highway, County Road 10 has an <br />average annual daily traffic volume of almost 22,000 vehicles and is a wide thoroughfare with an <br />approximately 250 -foot right-of-way. Therefore, very little development along the highway is <br />conducive to non -automobile access. <br />Most businesses dependent on traffic along the corridor are food establishments, retail stores, or <br />service -retail, such as banks and weight loss centers. Immediately after the US Highway 10 bypass <br />was completed, there was a drop in traffic volumes along County Road 10, which led to sporadic <br />store closings and relocations and conspicuous gaps in an already spread out urban fabric. However, <br />traffic levels have steadily increased, which has led to new investment along the corridor, such as <br />high density senior housing and new neighborhood -oriented retail, especially to the north and west <br />