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<br />Item #: 7A <br />Meeting Date: January 18, 2019 <br />Type of Business: EDC <br /> <br />City of Mounds View Staff Report <br />To: Economic Development Commission <br />From: Brian Beeman, Assistant City Administrator <br />Item Title/Subject: Reports of Staff <br /> <br />A. Crossroad Pointe Redevelopment Project <br />Closing on the sale of Crossroad Pointe is on track for May 1, 2019. <br />Groundbreaking for the approximately 127 unit market rate <br />apartments is expected Q2 2019. <br /> <br />B. Rice Creek Commons (TCAAP) Development Update <br />Project engineers are in the process of finalizing plans for mass <br />grading, utility installation, and primary roadways on the site. This work will be completed in <br />2019. The first phase of housing and early commercial construction is anticipated to begin in <br />2021. When fully realized, the mixed-use development is expected to offer 1,460 housing <br />units, support at least 4,000 living-wage jobs, and generate approximately $8.6 million in <br />property taxes annually. <br /> <br />C. North Metro Business Council Meeting <br />The next North Metro Business Council meeting will be held March 13, 2019 from 7:30-9:00 <br />a.m. at the Mermaid Event Center. The topic is TBD. All meetings are free. <br /> <br />D. MWF Properties <br />MWF Properties is in the process of constructing a 60 unit of <br />workforce housing project located along Mounds View Boulevard and <br />Groveland Road. Construction is expected to be completed by <br />December 2019. <br /> <br /> <br />E. Skyline Motel <br />The EDA must close within 90 days or around May 1, 2019. Once the purchase has been <br />finalized, staff will begin the recruitment efforts to attract a user to the site. <br /> <br />F. Ridgeway Apartments <br />A developer is acquiring class c apartments and rehabbing them then renting them out. Staff <br />and a Council Member met February 1, 2019 and toured the two structures. Before and after <br />pictures will be available at the meeting. <br /> <br />G. Other Upcoming Events/Reports <br /> City offices will be closed February 18, 2019 in observance of President’s Day. <br /> <br /> ______________________________ <br />Brian Beeman <br />Assistant City Administrator