CC WS PACKET 02282023 - Laserfiche WebLink

Home Browse Search

minnesota.uli.org 9 Panel Reaction to City Questions Question 1 WHAT ARE THE ADVANTAGES AND DISADVANTAGES OF THE STUDY AREA AND ITS LOCATION IN THE MARKET PLACE FROM A DEVELOPER'S VIEWPOINT? The advantages of the study area appear to significantly outweigh the disadvantages. However, some characteristics of the area could serve as either advantages or disadvantages depending on other circumstances. As an example, the existing high value of the land, is enough to demonstrate the viability of the area but may be higher than developers are willing to pay to redevelop it. ADVANTAGES • Opportunity to implement a long term vision: Successful development of senior housing nearby and the relative stability of the existing onsite uses lowers the urgency of pursuing redevelopment for its own sake, allowing St. Anthony to determine what it really wants and patiently work to make it happen. • Location: The study area offers great connectivity to job centers in both Minneapolis and Saint Paul as well as recreational amenities like the Grand Rounds Scenic Byway. It is adjacent to stable, well- maintained single family home neighborhoods, both in Northeast Minneapolis and St. Anthony’s. Finally, the study area is located near Roseville, a major retailing draw for the metro while also being near growing lifestyle and artisanal retailing in Northeast Minneapolis’ craft brewing and arts communities. • School quality: St. Anthony’s renowned school district ensures high demand for single family housing which can support turnover of older residents from existing homes who may be looking to remain in the community if another higher density, low maintenance option is available. • Relatively high land values: The values of parcels included in the study area are already high and existing uses are relatively successful. This suggests the area can and would support redevelopment. • City-owned property. St. Anthony Village owns several parcels in the study area including an already- successful municipal liquor operation. Ownership of these sites allows St. Anthony to control their destiny, increasing the likelihood that a long-term vision can be realized. • Supportive environment for redevelopment. St. Anthony has already demonstrated a willingness to support new development, including residential density. Strong leadership from elected officials and City staff makes it easier to build relationships that lead to the kinds of projects the city wants. DISADVANTAGES • Multiple property owners. The study area includes 22 parcels with 40 property owners, most notably the office condos in the former motel. This could increase difficulty in assembling sites for redevelopment. • Proximity to Rosedale. While being fewer than five miles from Rosedale may bode well for housing demand, it could dampen the success of retail in the study area unless the types of businesses are significantly different from those found nearby, can be supported locally such as dining and grocery, or offer unique opportunities for small, locally owned businesses like those onsite today.