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Mounds View City Council Work Session, April 5, 2021 29 <br />Owner (various) <br />Address Hillview & Quincy <br />Current Land Use Multi-Family <br />Zoning R-3 <br />Comp. Plan Multi-Family <br />Opportunities <br />Townhomes, Apartments <br />Constraints <br />Costs to purchase individual existing homes, demo, then new <br />construction, need cooperation from existing owners <br />Staff Comments <br />Handful of problematic landlords and tenants have consumed <br />Police and Community Development staff time. <br />Apartments are 50+ years old. There is not a simple solution to <br />improving neighborhood. Average EMV is $462,000. Too <br />expensive to redevelop unless subsidized by City. Potential to <br />redevelop lot-by-lot (vs. larger project). <br />If redeveloped, potential for <br />single-family detached rental <br />(above), or owner occupied <br />(below) <br />EMV: $8,793,000 <br />$28.37 p/sf <br />Why this <br />project matters