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U.l/UL/Vb 1r Vy UL)-1.: --- --- . .. DRAFT-- Silver Lake Center EAW Page 2 January 2, 1996 6. Description Give a complete description of the proposed project and ancillary facilities(attach additional sheets as necessary). Emphasize construction and operation methods and features that will cause physical manipulation of the environment or produce wastes! Indicate the timing and duration of construction activities. The proposed Silver Lake Center Involves the redevelopment of the site currently occupied by Apache Plaza. The following discussion provides an overview of the existing site(Exhibit^)and describes the proposed multi-phased redevelopment(Exhibits_and_.}. History Originally constructed In 1961,Apache Plaza was at the forefront of shopping center development within the Minneapolis/St.Paul area. Containing In excess of 525,000 91 with over 104,000 s.f.of common area,Apache Plaza served as a regional mall.for the northern suburbs of Minneapolis and St.Paul. Apache Plaza maintained this market position until the construction of Rosedale Mall In 1972. With Its greater size,superior location,and tenant mix,Rosedale adversely Impacted the economic viability of Apache Plaza. This situation was further complicated by the construction of Northtown Shopping Center in Blaine In approximately 1975. By 1975,the regional scope of Apache Plaza had been reduced to that of a large community shopping center. Tenant turnover was high and the physical plant became dated. During 1980 and 1981,Van Arsdell's department store and Montgomery Ward's,encompassing approximately 35,000 s.f.and 10,000 91 respectively,vacated the center. In 1984,Apache Plaza was struck by a tornado,which caused substantial damage to the physical plant. Between 1984 and 1985,a five million dollar renovation was completed and the updated look enabled the landlord to attract new tenants. In 1987,a 43,000 s.f.Herberger's was added to the tenant mix. This upscale merchandiser enabled the landlord to attract new tenants to the center. This positive situation continued until the summer of 1989 when new retail developments In the Rosedale area caused a number of Apache Plaza's tenants to close their Apache Plaza locations In favor of Rosedale locations. Over a period of approximately four months In 1989,Minnesota Fabrics,Lancers Clothing,Pact A Ten Clothing,Party Place,and County Seat vacated the center. These vacations and subsequent departures resulted in the current vacancy rate of percent.. Proposed Development Since taking title to the property In May,1995,Ste.Marle Company(SMC)determined the key to Apache Plaza's redevelopment is to sell a portion of the site to SuperValu,inc.(SV)for a Cub Food Store. A Purchase and Sale Agreement Is currently being negotiated. The sale of land to SV Is considered to be Phase I of the Apache Plaza redevelopment. SV Is purchasing approximately 9.5 acres at Apache Plaza, and the redevelopment of this parcel would Involve demolishing approximately 100,000.200,000 s.f.of existing building area, re-grading the disturbed area,re-building an exterior wall of the mail,and erecting a 75,200 s.f.store. Assuming the SV sale closes in April,1996,demolition and construction would occur through the summer and the Cub Store would open In November,1996. Phase 1 would also involve grading and development of two-lots adjacent to Silver Lake Road and the construct of three stormwater detention ponds(Exhibit The size and composition"df the"redevelopment of the balance of the retail site Is yet to be determined. The preferred ultimate development scenario at the present time Is shown on Exhibit Development of the site Into a viable retail center is driven by finding the large retail anchors and successfully terminating existing tenant leases which run to the year 2000. It Is anticipated that SMC will continue to own and operate remaining portions of the existing mall until redevelopment occurs. Table 1 summarizes the proposed redevelopment. As described In detail under Item 9,many buildings d.ontaln asbestos. All asbestos materials will be removed from the buildings to be demolished during redevelopment excluding Category I non-friable materials. The MPCA and U.S.Environmental Protection Agency(EPA)will be notified prior to building demolition,all activities will be conducted.by licensed contractors,and all applicable rules and regulations will be followed. Westwood Professional Services,Inc. ,�'