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<br /> <br /> <br />Premium Stop Redevelopment Report <br />December 20, 2006 <br />Page 2 <br /> <br />The long term redevelopment proposed by DSU has two alternate scenarios—one of which is <br />residentially based (80 new dwelling units) or office based (60,000 square feet of corporate <br />office space.) Given the proximity of the business parks to the north and south of this <br />development area, staff feels the corporate office scenario is likely more appropriate from a <br />land-use perspective and potentially more palatable to the adjacent single-family residential <br />neighborhood. <br /> <br />The final concept reviewed and presented by DSU involves and impacts development <br />beyond the scope of the original study area. In this final scenario (Concept E) Greenfield <br />Avenue is closed off at O’Connell Drive which would then be extended westward to <br />Edgewood. Four existing single-family homes would be incorporated into the development to <br />achieve thru status for O’Connell Drive. The one intriguing aspect of this final alternative <br />concept is the closing of Greenfield which would improve the function and safety of the <br />County H2 / County Road 10 intersection. Access to County Road 10 for the immediate <br />neighborhood could be achieved with Jeffery Drive being pushed through to County 10 as a <br />right in right out point of access or without the Jeffery Drive extension, access could be <br />conveniently achieved from the existing O’Connell and Woodale intersection or the proposed <br />O’Connell and Edgewood intersection. <br /> <br />Market Analysis: <br /> <br />The market analysis component prepared by DSU provides a wealth of demographic <br />information and assessment of current conditions along the corridor and anticipated growth in <br />the community and surrounding area to arrive at highest and best uses for the premium stop <br />property and adjoining parcels. The information contained within the market analysis will <br />prove useful to prospective developers and business owners looking to establish new <br />business locations. The market analysis concludes that the demand for the Premium Stop <br />parcel will increase as growth and development occur beyond County Road 10, namely, <br />Medtronic and the TCAAP site. Short term development may be limited to highway oriented <br />business such as restaurants, retail, banking and financial institutions and the like. Corridor <br />improvements such as those being considered on County Road 10 will enhance and increase <br />the desirability of the site. <br /> <br />Recommendations: <br /> <br />Review and discuss the various aspects of the proposed redevelopment plans for the <br />Premium Stop property and adjoining properties from County Road southeast to Woodale <br />Drive and provide feedback to staff concerning the redevelopment goals as identified on <br />Page 8 of the planning document. Keep in mind that the redevelopment plans are <br />conceptual and specific points such as building orientation, the number of parking stalls or <br />the internal street connectivity are less important at this point. Because the City would non <br />likely participate in any parcel assemblage, the plans (if approved) would serve as a <br />framework and vision for developers interested in the redevelopment opportunities present <br />within this site. Rezoning and development requests would potentially only be approved if <br />the developer submits a plan consistent with the council-adopted and community-supported <br />redevelopment vision.