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Planning Commission Meeting Minutes July 17, 2001 Page 4 Mr. Shardlow reviewed the Residential Redevelopment Concept and indicated that the goal is 2 to provide St. Anthony Village with a dynamic new residential neighborhood that will be 3 thoughtfully designed and built to compliment the community while at the same time establishing 4 its own sense of identity. 5 The Concept has a total of 850 housing units. The unit mix was not mentioned. The Concept 6 also includes 75,000 square feet of mixed commercial redevelopment. 7 Mr. Shardlow indicated that, based upon the Market Research Report, this site does not have 8 the visibility to be a"Class A" office building. But, he added, they have been contacted by 9 people who were looking for sites for corporate headquarters that were very similar to what 10 this Concept Plan includes. However, it was not without obstacles. Thus, Mr. Shardlow 11 continued, they felt the need to develop a Concept Plan that would show how they could 12 accommodate up to 500,000 square feet of corporate office on the site. 13 Mr. Shardlow reviewed the Corporate Campus/Residential Redevelopment Concept and 14 indicated that the goal is to provide St. Anthony Village with a strong base of well paying jobs 15 in a multi-building corporate campus facility on the site of the existing Apache Plaza. 06 The Concept includes 500,000 square feet of corporate offices in multiple buildings and 2,000 17 parking spaces that includes a 5 level parking facility on the east half of the site. The west half 18 would be a residential neighborhood with 406 housing units. The Concept also includes 75,000 19 square feet of retail development. 20 Mr. Shardlow stated that, in order for a new development to happen, it was necessary to have 21 a Master Framework to be given to the developer. He added that the idea of the Master 22 Framework was to make sure they were clear about the major elements. 23 Mr. Shardlow stated that having the parking take a backseat to the buildings themselves and 24 framing the roadways with the buildings was the idea that they were working toward. 25 Mr. Shardlow summarized the key factors that were included in the Master Framework: 26 Development Principles and Patterns, Street Patterns, Open Spaces,Natural Environment, and 27 Building Development. He added that it was premature to get into any sign criteria at this point, 28 but the general nature would include continuity in signage and lighting. 29 Mr. Shardlow indicated that the next step would be to have meetings with Metropolitan Council 30 and property owners. He added that, prior to new legislation, they had a manageable financial 31 gap. Mr. Shardlow indicated that the changes in state tax structure took 40% of the revenue out of tax increment financing, which left hundreds of projects around the state to be under- 33 funded. 34 Mr. Shardlow concluded that this is a project perfectly positioned to bring to Metropolitan