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03-27-1997
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03-27-1997
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MV EDC
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Packets
Date
3/27/1997
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the east with the new sidewalk along TH 10 and on the west connecting with the new Silver Lake <br /> Road sidewalk. This element also provides a connection to a larger trail system that is planned <br /> for extension along County Road I. <br /> Land Use 111 <br /> The following land use recommendations for the Section 9 Redevelopment Plan were developed <br /> in accordance with the goals and objectives developed for Section 9; in recognition of the results <br /> of the market overview provided by Towle Real Estate Company; and in conformity with sound <br /> land use planning practice. This discussion addressed only those properties for which the use or <br /> reuse of the properties are recommended for change. The Preferred Alternative graphic may be <br /> used as a reference for this discussion. <br /> Residential <br /> Significant opportunities exist for the development and redevelopment of various types of <br /> residential uses within Section 9: <br /> Properties: Mounds View EDA, PTW Investments and Pleasant Wood Apartments <br /> The EDA-owned property does not have direct access onto TH 10; and due to a median in. <br /> County Road I adjacent the property, access to that roadway is limited, as well. As such, the site <br /> on its own is not suitable for high traffic generators such as office or commercial uses. The <br /> property's overall utility as a free-standing property is questionable in light of these traffic <br /> limitations. Consequently, the contribution of the EDA property to the vitality and character of <br /> Section 9 will not be significant unless it is combined with the vacant properties abutting on the <br /> • <br /> west owned by PTW Investments. <br /> However, the PTW Investments property does not currently have access to TH 10. Therefore, <br /> any reasonable expectation for significant development of the EDA and PTW properties must <br /> rely upon shared access with Pleasant Wood Apartments. The recommended course of action to <br /> create new residential opportunities on the north side of the corridor while addressing the <br /> distressed aspects of the apartment complex is to: <br /> o Facilitate major renovation of Pleasant Wood, including interior and exterior <br /> rehabilitation and site improvements; <br /> o Secure townhome or other medium density residential configurations for the <br /> EDA/PTW site; and <br /> o Create shared access point as indicated on the Preferred Alternative. <br /> It is important to recognize that Pleasant Wood Apartments represents a significant investment as <br /> well as a notable revenue source for the City. It is in the best interest of all concerned that all of <br /> the properties between the Pleasant Wood and Eastwood Road be considered a single <br /> development/redevelopment site, not only for access purposes but so that current and future <br /> investments can be maintained. If Pleasant Wood Apartments are not improved and maintained, <br /> it will be difficult at best to secure uses for the EDA/PTW properties that will contribute <br /> positively to the character of the corridor. <br /> 26 <br />
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