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Item No: 6A Meeting Date: Dec 20, 2006 Type of Business: Commission Business City of Mounds View Staff Report To: Mounds View Economic Development Authority From: James Ericson, Community Development Director Item Title/Subject: Presentation of the Premium Stop Redevelopment Area Planning Study and Market Analysis Prepared by DSU / Bonestroo Introduction: The Mounds View Economic Development Authority (EDA) acquired the Premium Stop parcel in June of this year in an effort to eliminate blight and encourage a desirable redevelopment on the subject site and surrounding area. Background: On September 11, 2006, the EDA authorized DSU / Bonestroo to provide planning services associated with the recently acquired property at 2390 County Road 10. The proposal would involve conducting a market analysis and redevelopment feasibility study to gain a better understanding of the development potential of the subject property as well as adjoining underutilized parcels within this block on County Road 10. Conducting such a proactive study, the EDA reasoned, would help clarify the City’s vision and redevelopment goals for this area, factoring in the site constraints and market conditions. The study was intended to provide the City with the requisite information to seek out certain types of development and developers rather than simply reacting to development proposals as they are submitted. Discussion: DSU has completed the market analysis and planning study and presented it to the EDA on December 11, 2006. The redevelopment concepts presented can be implemented in phases, either in the steps presented by DSU or out of the presented order. Parcel assemblage by the City is not required to implement this plan as a developer or developers can work with the multiple property owners concerning the redevelopment of the area. On a stand-alone basis, the Premium Stop parcel could support up to 15,000 square feet of office and retail uses without impacting the existing restaurant, or, if the restaurant parcel is part of the redevelopment, up to 18,000 square feet of building space could be constructed, with the existing Sushi restaurant a potential tenant in one of the buildings. A mid-range redevelopment scenario would include the Robert’s Sports Bar and Restaurant site at 2400 County Road H2. DSU proposes a mix of residential on the Robert’s site, acting as a transition between the commercial uses on the corridor and the single-family residential neighborhoods beyond the corridor. Thirteen two-story townhomes are proposed with a 40- unit senior coop building at the corner of Greenfield and County H2. The mid-term redevelopment can be extended to the south east of the Premium Stop to include the self- serve car wash building, which is shown redeveloped as 5,000 square foot office / retail building to match the two buildings on the Premium Stop parcel.