PL MINUTES 11031986 - Laserfiche WebLink

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-2- • 1 Parking: 450 spaces instead of 446 proposed October 6th and 380 approved in 2 December, 1985. 3 4 Underground - 180 from 177 in October and 228 in December, 1985, 5 where the proposal included underground commercial parking. 6 7 Commercial : 33,000 square feet approved in December, 1985, deleted from ;this 8 and the October 6th proposal . 9 10 Design: -Pond returned as centerpiece of project. 11 -Sloped roof building as compared to flat roof approved in December, 1985. 12 -Layout of project redesigned with more amenities including additional 13 brick facing where the October proposal had only provided brick on 14 the building centers. 15 -Realignment of buildings and parking lots to correct impression of 16 a "sea of parking". 17 18 Construction 19 Start Up Date: First building started June, 1987 and second June, 1988. 20 21 Mr. Childs had also advised the Commissioners that the proposed values of 22 the project before them that evening would now allow the tax increment district 23 to have adequate cash flow. 24 25 PROPOSED RENTS 26 • 27 $425 for studios 28 $535 for one bedroom 29 $580 for one bedroom with den 30 $675 for two bedroom 31 32 Mr. Arkell said these rents represented 5% raise which would have to be 33 added to each figure for the first building which would not be occupied 34 for two years. He said the rents for the two buildings would be the same 35 no matter who rented them. The redeveloper added that a justification for 36 charging $675 for a two bedroom suite in 1988 was that the taxes on the 37 same unit would be $1 ,600 a year or close to $140 a month. 38 39 ARCHITECT SHOWED SLIDES OF SIMILAR BUILDINGS IN MINNETONKA AND NEAR HOPKINS 40 41 Mr. Tushie drew the audience's attention to what he perceived was a common 42 theme in all these projects - open green spaces around the perimeter of 43 the buildings and parking in the center core area near the building entrances 44 where it is much more functional to have parking. 45 46 RESPONSE OF PEOPLE PRESENT 47 48 Of the slips turned into the secretary, 25 persons had addresses in Minneapolis 49 south of the project site and 14 were from St. Anthony. 50 51 Minneapolis Alderman Walt Dziedzic said he was there to speak for his constituents 52 in the "Stinson Triangle" to protest what he considered to be a drastic • 53 change in concept to rent to just anyone rather than to only seniors the 54 developers had committed to originally. He said he recognized the senior 55 market was very slow but thought the City should stick to its original plan 56 to rent to only seniors because the "market was there".