2006.03.20 EDA Packet - Laserfiche WebLink

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small park space. The street plan also provides traffic continuity from the proposed development to points south and to the area to the north. About 40,000 square feet of commercial space is proposed, which when coupled with the existing commercial space immediately to the north creates a significant node of commercial activity. Also shown is a potential layout of a 45 unit senior development. Concept B 1 proposes the redevelopment of the existing commercial development at the corner and recreating two buildings that create about 10,000 square feet of commercial space. The remainder of the site is a mixture of owner occupied townhomes and a multi-story senior housing building. A key feature of this concept is the creation of the park feature adjacent to the highway that can draw people to the site. The housing on the site would have full advantage of the view of Egg Lake. Concept B2 takes the park feature of the previous plan adjacent to the highway, and opens up a parkway view to the lake terminating in an `overlook'. The parkway effect is then flanked with housing development on the north of it, and commercial opportunities on the south side. The size of the commercial totals 15,000 square feet and 50 to 72 units of housing can be created on the property. The Authority's Services Here are some of services that the Authority can bring to the City of Hugo: • Significant experience in developing, owning and managing senior and family housing • Assistance with strategies to finance commercial development; possible gap financing opportunities • Ability to use a variety of financing tools including, issuing private and public purpose bonds • Ability to facilitate development deals with private sector developers • Provide a variety of housing programs for affordable home ownership or rental housing • Act as redeveloper for the City • Create specific financing programs for the City As you know, the Authority currently owns Mueller Manor, a 28-unit affordable senior independent living apartment complex, at 14235 Forest Boulevard. The Authority wants to continue to be an active participant in the City's future. Thank you for the opportunity to submit these plans and to participate in the City's discussion of a very exciting vision for the future. Sincerely, Barbara Dacy, AICP Executive Director fax 651.458.1696 1 tel. 651.458.0936 1 www.wchra.com 1 321 Broadway Avenue I St. Paul Park, MN 55071