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Market Overview Page 10 County Road 10 Redevelopment Study October 24, 2006 remain in their homes. According to the 2000 Census, nearly forty percent of all current residents of Mounds View have lived in their homes for at least 10 years. IMPACT OF COMMUNITY ASSETS AND GROWTH TRENDS ON THE REDEVELOPMENT POTENTIAL FOR COUNTY ROAD 10 The redevelopment potential for sites situated along County Road 10 is promising. The expansion of Medtronic and the build out of the TCAAP site will add roughly 15,000 and 20,000 jobs within one mile of County Road 10 and Edgewood Drive over the next 25 years. The magnitude of this growth will likely cement the Interstate 35W corridor between Highway 36 in Roseville and Highway 10 in Blaine as the major employment center for the north and northeast metro of the Twin Cities. At the heart of this corridor are sites situated along County Road 10. As workers fill-up the Medtronic campus and the first phases of the TCAAP site are developed, any site along County Road 10 will become inherently more valuable because of its proximity to these new developments and markets. Therefore, once a critical mass of new jobs are in place nearby, demand will substantially increase for housing, retail, and additional office space, especially if the new development is connected to and incorporates a variety of amenities. It is important to note as well that although County Road 10 is very accessible to Medtronic and TCAAP, the non-vehicular connections are poor. Interest in redeveloping sites along County Road 10 will be influenced by the Medtronic campus and TCAAP, but not dependent on them. Office workers will find County Road 10 convenient for a variety of goods and services, but they will not constitute the critical mass needed to support significant development along County Road 10. Significant development, the type that begins to create appeal because of its critical mass, will only be achieved through tapping into the market generated by households that live conveniently near County Road 10 as well as nearby workers. This includes existing as well as future households that relocate to new, higher- density housing along or proximate to County Road 10. In essence, the development potential of sites along County Road 10 are limited in the near future (1 to 5 years), but greatly increase as new infrastructure and development occurs within the Interstate 35W corridor. The following schematic illustrates how the potential for development along County Road 10 will increase exponentially in the coming years. Development Potential Along CR 10 in Mounds View 2006 2010 2015 2020 2025 TimelineMarket Demand