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The Mounds View Vision <br />A Thriving Desirable Community <br /> <br /> <br /> <br />Item #: 7A <br />Meeting Date: January 16, 2020 <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 /> <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 the name of their project to Greystone Flats. <br /> <br /> <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 /> <br /> <br /> <br /> <br />