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Item #: 6A Meeting Date: February 17, 2017 Type of Business: EDC City of Mounds View Staff Report To: Economic Development Commission From: Brian Beeman, Business Development Coordinator Item Title/Subject: Reports of Staff A. Crossroad Pointe Redevelopment Project Staff continues to contact developers informing them of the possibilities at the Crossroad Pointe redevelopment site. City staff attended a developer’s round table last week and four developers analyzed Crossroad Pointe. Each d eveloper specializes in different types of development including, industrial, housing, senior housing, and commercial development. They mentioned that they are cautious to see what will happen with the 427 acres at Rice Creek Commons and until they know ex actly what will be developed, they are not willing to put forth the time, effort, and expense into Crossroad Pointe. They said they are not able to create demand and all of them said mixed-use will not work on this site unless the demand it there. The demand for mixed-use may eventually return, however they don’t see this type of demand at this particular site for several years. Further, they said the current demand may be for an auto dealership, convenience store, or possibly a restaurant. All of them seemed to think that affordable housing would work. None of them seemed interested in the site. However, staff has had interest for senior housing from another developer and also an extended stay hotel with a separate building for market rate apartments. When the City Council had last met in their third visioning session for this site, they didn’t want affordable housing and the Mayor mentioned that the benefit to the City owning the land is that the City has time to wait and see what the demand creates for the site. With very limited options, all staff can do is continue to market the site in order to make developers aware of the property. However, the vision of the Council would need to change in order to meet the current demand or the City will need to be willing to patient and allow the property to sit for several years until the demand equation changes for a different type of product. B. Business Retention & Expansion (BR&E) Visits Most of the local businesses have already been visited; there have been no new BR & E visits since the last EDC meeting December 16, 2016. C. Rice Creek Commons (TCAAP) Development Update As winter has come, there has been no new construction news to report. Construction will resume in the spring of 2017.