Laserfiche WebLink
MOUNDtSVVI EW <br />City of Mounds View Staff Report <br />Item #: 7A <br />Meeting Date: November 15, 2019 <br />Type of Business: EDC <br />To: Economic Development Commission <br />From: Brian Beeman, Assistant City Administrator <br />Item Title/Subject: Reports of Staff <br />A. Crossroad Pointe Redevelopment Project <br />Closing on the sale of Crossroad Pointe was completed November 4, 2019. INH Properties plans to <br />have footings in by the end of the first week of December for the 128 unit market rate apartment <br />building. The developers are planning to change to name of their project to Greystone Flats. <br />S <br />VIEW <br />G R <br />R Y <br />TO <br />N <br />E <br />F <br />IR <br />TSMUNDS <br />MINNESOTR <br />INTERSECTION <br />OF COUNTY RORR <br />H2 S MOUNDS <br />VIEW <br />EIOOLEVRRO <br />m <br />n n n i II Ik ll' �11 ,. 11 11 111 11 ! 11 H <br />II i" <br />II 11 !I ! 11 11 II 1 11 11 1! 111 11 11 11 H I 11 <br />riumi.: xo-xv.3� rxM..�_sxai_ r <br />ALLIANCE (.41 � iProperties MGROUP <br />� AAR It C H I T E[ T 5 <br />BUILDING CORP. 0 E M <br />S'roebexlllres, Nothnagel & Co. T+eoa�wa�'e;;,��;�r <br />B. Rice Creek Commons (TCAAP) Development Update <br />In late spring of 2019 project engineers were in the process of plans for mass grading, utility installation, <br />and primary roadways on the site. This work was slated to be completed in 2019. Initially, the first <br />phase of housing and early commercial construction was expected to begin in 2021 and when fully <br />realized, the mixed -use development was expected to offer 1,460 housing units, support at least 4,000 <br />living -wage jobs, and generate approximately $8.6 million in property taxes annually. However, the <br />County has decided not to participate with the City of Arden Hills and has filed a lawsuit against the <br />City. Therefore, all timelines and plan are on hold until further notice. <br />The Mounds View Vision <br />A Thriving Desirable Community <br />