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Item #: 6A MOUNDS VfE-W Meeting Date: February ss EDC Type of Business: EDC City of Mounds View Staff Report To: Economic Development Commission From: Brian Beeman, Assistant City Administrator Item Title/Subject: Business Property Redevelopment Opportunities Background At the January 18, 2020 meeting the EDC asked staff to provide a review of business property available for redevelopment Discussion In 2019 the City completed the Boulevard project. This is a 60 unit workforce housing project located North of Mounds View Boulevard and West of Groveland. As of the day of the Ribbon Cutting ceremony there was only one unit left. Since that time all unites have been leased and there is a waiting list. Projects for 2020 include the Gray Stone Flats. This is 128 units of market rate apartments. Construction has already begun with substantial completion at the end of 2020. Lease up's are anticipated to begin in 2021. Augusta Development, llc would like to break ground on their 100 unit Senior Living facility in August 2020. They are currently purchasing the remaining vacant lot from Bauer Welding and the Northern half of the EDA owned lot. MWF Properties is in the process of acquiring the South half of the old Skyline Motel property. They are planning a 60 unit workforce housing project that is dependent upon Tax Credits and TIF similar to their recent project in Mounds View. Bauer Welding is planning a 30' wide expansion to their existing rear building that will be constructed lengthwise from each of their East and West property lines. This will aid in a more efficient workflow for their manufacturing operations. Bio Clean is planning a small expansion that will require utilizing the 33' easement between the EDA lot and Bio Clean lot and possibly 10' additional feet of the EDA lot. They will add an overhead dock door with leveler which will allow their supply trucks to offload more efficiently. Kennedy & Graven are working on the legal documents. Long Lake Woods residential redevelopment project will likely start in the fall of 2020. The project requires the developer to purchase the rear lots of the existing homes whereby the developer will create several single-family lots. Clients will be able to purchase lots from the developer who will also construct the custom home. Assistant City Administrator Brian Beeman will show potential redevelopment sites within Mounds View on the flat screen and answer any questions as necessary. Other potential redevelopment site not actively being marketed is the large Western Bank lot, and adjacent lot, Snap Marker parcel, Rydell Auto and Bio Life vacant lot. Recommendation Staff recommends that the EDC review the available redevelopment sites and ask questions as needed Respectfully submitted, gy — Brian Beeman Assistant City Administrator Attachment(s): 1) Gray Stone Flats Leasing Information 2) MWF lease information 3) Skyline Motel Redevelopment Site 4) Long Lake Woods Development 5) Redevelopment Map