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Mounds View City Council Work Session, April 5, 2021 6 <br />Owner(s)R. Lillestrand, <br />D. Waldoch , <br />M & K. Williams, <br />City of Mounds View <br />Address 2925, 2935, 2949 <br />Mounds View Blvd <br />Current Land Use SF, MF <br />Zoning R-1, R-3 <br />Comp. Plan Mixed Use <br />Opportunities <br />50+ unit apartment building, mirroring Boulevard Apartments. <br />When Boulevard was platted, a driveway easement was <br />provided for future development to the west. Limited Sanitary <br />Sewer along Mounds View Blvd. System extension required. <br />Constraints <br />Unknown if all owners are interested in selling. <br />Staff Comments <br />In Staff’s conversations with one developer, the cost of the <br />properties does not justify re-development. The EMV of the <br />five properties is $845,900 ($6.43 p/sf) <br />City Participating? No, Decide if <br />existing storm water ponds <br />need to be retained <br />For comparison, Boulevard <br />Apartments has an EMV of $10 <br />million <br />Why this <br />project matters