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Arden Hills project suffers setback: Developer exits Page 1 of 1 <br /> • ANYWHERE3, ArriStarTribun e,com IME <br /> Arden Hills project suffers setback: Harpstead said the details of the project have <br /> Developer exits never been set in stone,but some of the major <br /> themes of the development could still become <br /> Last update: May 11, 2009- 11:57 PM reality. <br /> A massive redevelopment project in Arden Hills "It won't be this developer or on this current <br /> suffered a major setback Monday when the schedule,but this particular project isn't over,"he <br /> developer pulled out of the project and the City said. <br /> Council voted to rescind purchasing the Twin <br /> Cities Army Ammunition Plant from the federal LORA PABST <br /> government. <br /> "Without any money and agreement to purchase <br /> the property,it brings it back to the beginning," <br /> said Mayor Stan Harpstead. <br /> The TCAAP land is one of the largest areas open <br /> for development in the metro area,and in the past <br /> several years city officials had looked at creating a <br /> mixed-use development that would include more <br /> than a thousand housing units,as well as <br /> • commercial space,athletic fields and green space. <br /> The city had agreed to buy 585 acres of the site, <br /> which sits northeast of Interstate 35W and Hwy. <br /> 96,from the federal Government Services <br /> Administration for$45 million and then sell the <br /> land to developer Ryan Companies. <br /> Citing the economic feasibility of the project,Ryan <br /> Companies backed out,leaving the land,parts of <br /> which are contaminated,to sit while the city <br /> regroups. <br /> Advertisement <br /> Rem. einder: Send Fl <br /> Secretary's <br /> aY10 80 216 6 <br /> 539 <br /> w Boesel.Corn <br /> Print Powered By narnicsj <br /> http://www.startribune.com/local/north/44759167.html?elr=KArksUUUU 5/13/2009 <br />