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<br />Item No: __3__ <br />Meeting Date: August 21, 2017 <br />Type of Business: Work Session <br />Administrator Review : ____ <br />City of Mounds View Staff Report <br />To: Honorable Mayor and City Council <br />From: Brian Beeman, Economic Development Coordinator <br />Jon Sevald, Planner <br />Item Title/Subject: Review Development Proposals for Crossroad Point Site <br /> <br /> <br />Discussion: <br />At the May 1st and July 17th City Council work sessions, the Council heard presentations for <br />the development of Crossroad Pointe, located at the SW intersection of Mounds View Blvd <br />and Co Rd H2. The three presentations were from: (1) Dominium, (2) Global Real Estate / <br />Kraus-Anderson, and (3) INH Properties. <br /> <br />The intent for this evening’s work session is to select a preferred developer, and to discuss <br />a price for the 4.25 acres. <br /> <br />Each of the proposals differ significantly from each other. With the assistance of the <br />developers, Staff has assembled a chart comparing each proposal (attached). <br /> <br />Developer Residential Commercial <br />Dominium: 216 units, senior, 100% affordable N/A <br />Global Real Estate/Kraus-Anderson: 165 – 223 units, 80% market rate 6,100 – 29,400 sq ft <br />INH Properties: 136 units, 100% market rate 20,000 sq ft <br /> <br />City Council members were invited to tour projects completed by each development <br />team (or partners), that would be similar to what would be built at Crossroad Pointe. <br /> <br />PROJECT HISTORY: <br />2006: City acquires Premium Stop gas station (2394 Mounds View Blvd) <br />2006: Premium Stop demolished <br />2006: DSU/Bonestroo completes market analysis and planning study <br />2013: City acquires Roberts (2400 Co Rd H2) and Taiko restaurants <br />2013: Roberts & Taiko demolished <br />2014: Neighborhood Open House. <br />2014: Stantec completes redevelopment study <br />2015: City Council and City commissioners tour three mixed-income apartment <br />complexes in St Anthony (Dominium), St. Louis Park (Bader Development), <br />and Osseo (The Beard Group) <br />2015: The Beard Group proposes Phase 1 to include approximately 2.5 acres of the <br />4.25 acre site, Phase 1 to include 119 units (market rate), consisting of <br />studios, 1-bedroom, and 2-bedroom units. <br />2016: City enters into a preliminary development agreement with The Beard Group <br />2016: The Beard Group withdraws from the preliminary development agreement <br />2017: Three proposals from; (1) Dominium, (2) Global Real Estate / Kraus- <br />Anderson, and (3) INH Properties. <br />