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• Planning Commission
<br /> Case No. 471-97: O'Neil Property
<br /> March 28, 1997
<br /> Page 3
<br /> plan, "most development can occur without complex erosion or slope problems" in this category.
<br /> Staff recommends that soil testing be done at the development plan stage only if determined
<br /> necessary by the City Engineer.
<br /> • Vegetation&Landscaping
<br /> The applicant is proposing to retain the existing tree coverage outside of the developed area of
<br /> the site. Protection of the existing tree coverage during construction would be a condition of
<br /> approval. There is still discussion needed on the treatment of the buffer area along County Road
<br /> H2. The applicant is willing to either retain the oak woodland, supplement this area with
<br /> additional tree plantings, or substitute berming and manicured landscaping, as the community
<br /> desires. (This issue is noted as needing more discussion in the next section of the report.) The
<br /> landscape plan for the development portion of the site would be submitted at the development
<br /> plan stage.
<br /> • Market Demand; Long Term Viability of Use
<br /> Theaters: The applicant has provided a market study to illustrate the gap in the market place
<br /> • which the theater portion of this proposal will fill. At the last meeting, a question was raised
<br /> whether the theater portion was consistent or inconsistent with the Feasibility/Highest and Best
<br /> Use Analysis prepared by Towle Real Estate as part of the Highway 10-Area 9 Study, which was
<br /> commissioned by the City. We have received a letter from Rodger L. Skare, MAI, who prepared
<br /> the Towle Report clarifying that they see one multi-screen movie complex as feasible in the
<br /> Mounds View-Northtown area(see attached letter). As noted in our earlier staff report, there is
<br /> no active theater proposal at Northtown at this time.
<br /> A article regarding Carmike Cinema, Inc. which appeared in Bottom Line magazine indicates high
<br /> earnings and healthy growth for this company(see attached).
<br /> Office Buildings: Since your last meeting, the applicant has provided a listing of office buildings
<br /> in the 10,000-15,000 square foot size located in northeast and northwest sectors of the Twin
<br /> Cities marketplace, with the amount of square footage they contain and the amount vacant. The
<br /> report includes the following communities: Anoka, Blaine, Brooklyn Center, Brooklyn Park,
<br /> Columbia Heights, Coon Rapids, Crystal, Elk River, Fridley, Golden Valley, White Bear Lake,
<br /> Maple Grove, New Hope, Osseo, Plymouth, Robbinsdale, Rogers, Spring Lake Park, Arden Hills,
<br /> Circle Pines, Gem Lake, Lauderdale, Little Canada, Maplewood, New Brighton, Oakdale,
<br /> Roseville, Shoreview, and St. Anthony. The total square footage for this area is 1,461,273 sq.ft.
<br /> The total available is 85,147 sq.ft. or a vacancy rate of 5%. Out of 121 buildings, 107 have no
<br /> space available.
<br /> • The Towle Report indicates low rise office and/or medical/professional buildings that would be
<br /> oriented for either a single tenant or multiple tenants are feasible uses in the Highway 10 corridor.
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