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August 20, 2019 Page 6 Comprehensive Plan. The City’s draft 2040 Comprehensive Plan is presently under review by the Metropolitan Council. The Metropolitan Council has classified St. Anthony Village as an “urban community.” “Urban communities” are expected to plan for forecasted population and household growth at average densities of at least 10 units per acre for new development and redevelopment. In addition, “urban communities” are expected to target opportunities for intensive development near regional transit investments. The City’s draft 2040 Comprehensive Plan identifies the former Walmart site as a priority redevelopment opportunity. Recognizing that the City is expected to accommodate an increase in population and that little to no vacant land presently exists, redevelopment of previously developed sites is considered the primary means of achieving the City’s residential density objectives. The Land Use Plan included in the draft 2040 Comprehensive Plan directs commercial use of the subject site. The Plan notes, however, that high density residential redevelopment (within Area 7) is specifically encouraged and allowed on the subject site. The 2040 Comprehensive Plan also establishes a desired density range of 20 to 40 units per acre for high density residential development. The applicant has proposed a residential density of 35.7 units per acre (464 dwelling units/13 acres) which is within the density range directed by the draft 2040 Plan. With the preceding in mind, the proposed redevelopment project is considered consistent with the City’s 2040Comprehensive Plan. The housing aspect of the project potentially raises the issue of affordability. The City’s Comprehensive Plan identifies several aspects of affordability and density. The Plan notes that for existing housing stock, St. Anthony Village provides a greater ratio of affordable housing, a greater ratio of rental housing, and a greater ratio of multiple family housing that the metropolitan area in general. This is also true for most aspects of affordability when compared to nearby suburban communities. With regard to planned housing and affordability, the Metropolitan Council assigned (as a part of the 2040 Plan Update process) an allocation for 152 additional “affordable” units to St. Anthony for the 2021-2030 decade. The Plan accommodates this allocation with land designated for affordable residential development of more than 460 units. The proposed Silver Lake Village PUD Amendment presently before the City is also defined as affordable in Met Council’s calculations, based on its density – doubling the proposed potential supply. Planning staff would note that while rent ranges for the proposed project are not considered in this calculation, not every project will meet every goal of the Comprehensive Plan. The primary goals met by this project would include compatible redevelopment of the Walmart site – an important Village planning objective which stands on its own. 40