Agenda Packets - 2022/11/07 - Laserfiche WebLink

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Reuter Walton Development 4450 Excelsior Boulevard, Suite 400 St. Louis Park, MN 55416 (612) 823-3489 City of Mounds View 2401 Mounds View Boulevard Mounds View, MN 55112 RE: Woodale Apartments – 140-unit Workforce Housing Project Reuter Walton Development is proposing a 140-unit affordable housing development located at 2310 Mounds View Blvd. The proposed project main entrance would be off Woodale Drive. The property currently is a 2.98-acre vacant overgrown site that has sat underutilized for the last 30 plus years. The site is located in a Qualified Census Tract (QCT) and the developer currently has the site under purchase agreement with the current landowner. The proposed project would be a 4-story building with a flat roof. The building would also include a underground parking level. The exterior façade materials would consist of fiber cement siding, brick, stone, glazing that would be comparable to the 2 adjacent multi-family projects in Gray Stone Flats and Bel-Rae Senior Living Project. Reuter Walton’s housing proposal includes a total of One Hundred Forty (140) units of affordable housing serving households earning 60% of Area Median Income (AMI) or less. 10% of units would be proposed to be set-aside to individuals earning 30% of the AMI. The proposal includes housing for both individual and family households with thirty-seven (37) one‐bedroom units, sixty-eight (68) two‐bedroom units, and thirty-five (35) three‐bedroom units. Each unit will include Energy‐Star appliances with laundry and will feature a high quality of design and finishes. Community amenities include a fitness area, community room, wifi lounge, private offices for property management, underground parking, additional surface parking and an outdoor gathering space. The project site highlights its close proximity to many of the city’s attractive elements. The project is located across the street from Edgewood Middle School and within .5 miles of Irondale High School giving its easy access for the families living at the building. The project will also be within .5 miles of Co Rd H & Mounds View Blvd / I-35w Park & Ride along with the Route 804 bus stop on the Metro Transit bus line. Giving residents transportation flexibility to access major employers throughout the twin cites. The project location sites within a half-mile of Rice Creek Water Trail, City Hall Park, and within 1 mile of Long Lake Regional Park which features a swimming beach, large playground, fishing and more than 5 miles of walking/hiking trails. The project is a unique opportunity to give access to low-income households to the City of Mounds View and Ramsey County parks and trails. The proposal seeks to promote its location to public transportation and bicycle infrastructure by providing secure, indoor bicycle parking. These will allow residents access to major employment centers. The current ownership has left this large, well-located parcel undeveloped since they purchased it in the early 1990s. The site has been severely underutilized for many years and the current owner’s unwillingness to work with the city or other owners has been negated until now. We want to take advantage of the opportunity and create a much-needed housing project for the community at a large and give the workforce another housing option to call home. The project site within census tract 27123040902, where the median household income was $59,797 in 2022 according to the 2022 FFIEC Estimated MSA/MD/non-MSA/MD Median Family Income. This project will be affordable at household incomes ranging from $44,000 per year to $65,000 per year and is well positioned to provide much needed affordable housing options for working families.