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<br /> <br /> <br />TECHNICAL MEMO – MARKET OVERVIEW <br /> <br /> <br />DATE: October 24, 2006 <br /> <br />TO: City of Mounds View, Minnesota <br /> Jim Ericson, Director of Community Development <br /> <br />FROM: Jay Demma, DSU/Bonestroo <br /> <br />RE: Market Overview <br /> <br /> <br />INTRODUCTION <br /> <br />This memorandum focuses on the market conditions for residential and commercial development in <br />the City of Mounds View along a stretch of County Road 10 from Edgewood Drive and County <br />Road H2 to Woodale Drive. The analysis explores existing demographic conditions and trends and <br />the potential derived from the expansion of nearby Medtronic and the redevelopment of TCAAP in <br />adjacent Arden Hills. <br /> <br />STRUCTURE OF THIS MEMO <br /> <br />This memo contains the following sections: <br />• Community Assets Related to Development/Redevelopment; <br />• Critical Growth Issues; <br />• Impact of Community Assets and Growth Trends on Redevelopment Potential for County <br />Road 10. <br /> <br />COMMUNITY ASSETS RELATED TO DEVELOPMENT/REDEVELOPMENT <br /> <br />The City of Mounds View holds many highly-marketable qualities. Its central location, stable <br />neighborhoods, and an increasing concentration of highly-skilled employment pique the interest of <br />prospective residents, businesses and developers. Due to limited reserves of developable land, <br />however, new construction of residential or commercial properties has been extremely limited over <br />the past decade. Through the targeting of strategic undeveloped or under developed sites, the City <br />has a unique opportunity to expand its residential and commercial base in order to capture some of <br />the ongoing and renewed energy being created along the Interstate 35W corridor. <br /> <br />This section of the report explains the City’s strategic community assets and describes how these <br />assets strategically enhance County Road 10’s redevelopment potential while underscoring the <br />market challenges for some types of development. Specifically, we discuss the City’s location, the <br />location of the subject site, the residential base, and institutional/commercial strengths.