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HRSR INFORMATION 10-22-2001 • S IL il October 15, 2001 y Minnesota Real Estate Journal VidrO� Page 7 Hopkins redevelops historic do wn district $20 MILLION PROJECT TO TRANSFORM SITE The city of Hopkins continues repo- t"i flan;'w ^1 a vation along its historic downtown t ; k �3 Mainstreet with plans for Marketplace i ,-t F1 E K t z Lofts, a $20 million mixed-use devel- tw opment. The 1.5-acre project, slated for E r a half-block between Seventh and ffi I , �� l� Eighth avenues, will consist of 15,000 n '-- ,, i:iiiiii,W =�`#;-: •, t om - 44_,=,-4,44,4k, 'a' y,".. square feet of retail, 42 for-sale lofts and 56 for-sale condominium and town t3home units with underground parking ] 2s na ,U. gmaj a, j i I and public courtyards. "You're always in a redevelopment mode in a town like Hopkins," says Steve Mielke, the city's manager. Dur RENDERING COURTESY OF DJR ARCHITECTURE INC. • ing the past 10 years, the city has The proposal for Marketplace Lofts, presented by The Cornerstone Group in conjunction with RMF Entities Ltd.,won the focused its redevelopment efforts on its bid with the city of Hopkins.The approval process is now under way,with hopes for a June 2002 groundbreaking. downtown, he says, including the area near 11th and Mainstreet where Mann Theaters, a restaurant and the Hopkins lis Warehouse District, but not everyone Marketplace Lofts were receiving phone projects, such as Marketplace Lofts, Center for the Arts were added about can afford or has the desire to live in a calls from residents asking to be placed aren't currently planned. five years ago. major downtown market. on a waiting list should they become the "Frankly, with the changes of the Mielke considers Marketplace Lofts "So we see the potential in suburban chosen developer, "which tells us Legislature over tax increment and to be the east bookend to the historic markets, especially in places like Hop- there's a very strong market." property valuations, we're running out downtown area. "It's just the next step," kins —which already have an existing Also, Oaks of Mainstreet, a 1998 res of tools to be able to do projects," he he says, adding that Hopkins has a downtown — to replicate some of the idential development consisting of 66 says. "What we're going to have to do strong community identity,but residents trends that are happening in the bigger townhomes, sold out 12 months into the is work on getting additional resources are looking for a different kind of hous- cities," she says. three-year project, he says, though the before we could do another large-scale ing mix. Minneapolis-based Larson, Allen, homes sold at a lower price point than project." Joyce Goodrich The city will use economic develop- Weishair & Co. LLP (LAWCO) has Marketplace Lofts. ment funds, not tax increment financ- been hired to conduct a full market As far as future plans for city rede- ing, to procure the property and demo- study on both the housing and retail velopment, Mielke says there are some lition. components for the project. infill sites to work on, but bigger-scale Even without subsidy, the city had The site is currently parking lots and eight developers vying for the project. approximately 10,000 square feet of The Co erstone„Gr p, baa under-utilized retail s. ace, ncludin .a R T:- ,, = _ = i The. in , vas'terc ecl It-a spec special , sly g , �#• n,, r 1, 4 paint store, a barber shop, a temporary , , .. �, Sept. 25 city council meeting. The employment agency and an animal feed group is partnering with retail develop-- store.The- city had been considering the er RMF Entities Ltd. of Edina. site for renovation for several years. :,.....,..:.„,...1:...,:f.:.,,,:::•,1.,:i':•?::::.:::.g..:•::::;,•,..--.1:i::?.1,0.7f';i4,1,11,1!„,i11,?..ii,,,!!-„,,.'?,,,:l.,,I.,:,,,!:,,!:.:!.,!,,:,.:1:!,,,,-,!ii,,v;.F7T.bil:•..F.f:E,.:::•:,;::T.,:;i.,:;,/,,,...:;„„:„--;r3f.!.7.'.'..f.,,,,;,;.i.:';;;.':;....',.",„:„.•:;,:,.:::::Fs'''.. .,,,,r:„.;:!:,•:;;;;.'.::!.'....,':.T.':..:':.,!1.,.1,11,1,:::11!,•.•!,1:1,;!•.!,;:!:!.;:ii„:„•,:, "We felt that the creativity [Corner- "The building's themselves are in stone] brought to . the project was very poor shape. They're turn of the superb. We liked the projects that we century buildings," Mielke says. had seen from them in the past and the "They're not architecturally significant, things that they're working on current- they're just old." ` , ly,"Mielke says, citing the James J.Hill The city received several complaints Building in St. Paulus an example. from property owners and local busi The city plans to sell the razed prop- nesses that the area was"not helping the erty to Cornerstone and RMF at market market." Two years ago, a developer .,h value. The partnership will maintain proposed an office building on the site, Grit lli 18 � t0 t311Uunc I1t11 ownership of the retail piece and sell the Plans subsequently fell through, but the , successfulJes ntati o :::::....',.:,.L...,:,'.,....„„..,,,i':,::::::.......„.,:;..,....,.:'::::.;:f.,..,.....,.:.:,.•:-.;.:,,,,:,::.;.--.:,:........:,,„,:.::::..:.,'",::::...:t..:-.:,:::i.',,,.'„.-i.f.-..:,,......:::,..„-i.'i...,..:.-•.:.:,,Y,,,,,,...,::::,:;.:,.,.,........,",,:.,::,:.:::.•...,:.;,.:-.:.•,.. housing units to individual owners. city was inspired and began acquiring Heidi Kurtze, Cornerstone's develop- pieces of the property shortly thereafter. ment manager, is excited about the pro- The process has only begun. City ject. "We have an interest in expanding development and zoning approvals must our company's portfolio to include more be met, along with much due diligence, i : ,: , MPA fi'€ mixed-use projects. We see that as the Mielke says. But he hopes a predevel wave of the future in terms of redevel- opment agreement will be in front of the opment," she says. "There aren't a lot of city council by the first part of Novem- in the di position L� rll l * 1n Dear orn,;Mi hig , .....;,,,,,::,..,...;.,...,,,,i.:1.:::;::::::;...::;..,,,,,,,.::.,.. developers out there who are good at ber and the land cleared in time for a yid tt ,. t lli s1T f 1 j 0 p� OO j both residential and retail." June 2002 groundbreaking. If all goes While Cornerstone has done a lot of well, the site will be ready for occupan residential acquisition and rehabilitation cy,by early 2003. work, it is partnering with RMF, which ""We're not your typical suburb," specializes in retail developments, MI�elke says, stating that 65 percent of '� including a number of projects along St. Hopkins' residential community con- Paul's Grand Avenue. RMF has begun sists of multifamily housing. "Hopkins " discussions with potential retailers, but is a very compact town. We've got 4.5 no leases have been signed. square miles of land area. We've got5:;.;-. y°::_,;,,,, The project architect is Minneapolis- 17,000 people. That's about 4,000 peo- based DJR Architecture Inc. A general pie per square mile:' Dou Puiwn at! radsxy contractor has not yet been selected. Due to the high percentage of afford "We're trying to provide a [housing] able housing already in the area, Hop- Doug Fulton artd Matt Friday represented flash Fi ch''''''''''''''.9.'.....,ug can be:reached at mix that raises the bar in Hopkins over kins has met all the affordable housing 952.908.1227. or doug.fuiton gr`ubb-ellis eum. Matt c . , be reached: at:,., what has been done in the Main Street goals in the Livable Communities Act, 952.908.1208 or at ma-tthew friddy6grttblb-ellis,co area already, but also addresses the Mielke says. The city council deter affordability issue," Kurtze says. She mined this project should be owner- estimates the completed units will sell occupied and "a little more upscale' fT111.i1.t� 5 for$150,000 to $250,000. than the city's current housing mix. .rl ' I Kurtze says research shows a strong "We're looking to diversify our housing Prop rtySolutio t�orldwide desire for urban lifestyle living in sub- stock a little more,"Mielke says. l arkway ti to t zr Mirrn tor�,- urban locations. People are drawn to The community has reaffirmed the .. x rri f bb-ellrs coin major downtown central business dis- need for this type of housing. Mielke 95 9 ' � 9 3 ;t tricts, she says, such as the Minneapo- says the prospective developers for Jransaotxon fryi l s+Mars sge of S a c s .,,,, , a1 w,... Scttxtegtl ert?r e http://twincities.bcentral.com REAL ESTATE Up to $10M project will include restaurants, retail, hotel )41,4r—ti Kellison to develo ,,„ ,.. .,..,,... ,.T., ,., a • . . , . .. .,.., . ..:,:„:„,,..„ „:„.. ._ : Wyoming )ing _ rY ur as e . ,_50 ., By Sam Black J11' EA O TA11~ its Staff reporter i, 0 C e is d , ,, The northern suburb of Wyoming will ''1 �, soon get a town center that city officials ,.# ! , l ' ' " i i 1' fir F n# ii 1° hope will persuade some of the 3,500 resi- [4:0p,,kBlvd",E ` .r of dents they don't need to commute to Forest F '''''''.•••-'-'••-•---1•` k R Lake for haircuts and banking services. t,,` 35 i Development i ` �" site now holds r • Wyoming officials Monday night gave k ER: .*. exclusive development rights for a town cen- w r t st tank farms`' - i n i f K ' :, ter to Oakdale-based Kellison Co. The first phase of the project is slated forrtrr, !ranges 11 to 12 acres now used by two commercial € etik j duced silt.:,..;. fuel tank farms, on the north side of Viking , 6111,:rigi I F ,66�. t W Boulevard across from City Hall.Kellison is fi i�,, i 5W currently assembling the land. r ! ' :, .2 The $7 million to $10 million develop- •-'%.•,4,..,:.•;t:.-4.!0,.:,,,,,!..:.4.....,,,,•.•••.• �. Fment would include three restaurants and Dennis Coryell, city administrator of Specializing in Corporate about 30,000 square feet of retail space. It Wyoming.A recent survey"discovered that • Gifts &Awards will also include a 45-room hotel and 77 percent of our people are commuting to VIKING 15,000 to 20,000 square feet of office other places to spend their money,"he said. byspace, said Jonathan Distad,, director of The idea for the downtown project start- business development for Kellison. ed earlier this year as a way for the town to Construction is expected to start in the diversify its tax base and ease the burden on C" '1 s today spring and finish in late 2003. residential homeowners, Coryell said. The A second 12-acre phase of the project is city envisions something like the Arbor www.vikingtrophies.com planned just south of Viking Boulevard, the Lakes development in Maple Grove,he said. 'RATED town's main east and west thoroughfare.The "We're trying to avoid having a sea of second phase would likely include more vinyl and a sea of parked cars,"he said.The retail space and some market-rate senior area adjoins a bike trail and a nearby river,yet housing,Distad said. it's only a few blocks east of Interstate 35. Best Resource for Although design standards are still being "Without the tank farms it could be a solidified,Distad said it's clear that the city really nice site,"he said. deoconferencing doesn't want a bunch of big-box retailers, The city is prepared to assist the develop- like Home Depot or Best Buy,downtown. er any way it can,Coryell said.If necessary, h:v, "They are a small town. They want to the city may assist in land acquisition by , k maintain that small-town feel,and part of that beginning eminent domain proceedings, he Y7' N., f"='' is having a revitalized downtown that's very said. The city has also discussed using tax pedestrian focused—similar to a downtown increment financing (TIF) and even some Hopkins, or to downtown Wayzata but with- kind of direct tax abatement to assist i out the high-end shops" Kellison Co.,Coryell said. " . * `4 AP� Kellison Co. is a 10-year-old construc- TIF financing assistance probably won't r �� '6 '74. ' tion and development firm owned byJim be enough to make this project work because „ � �.� • P g P j 4 Kellison. Past projects include office,retail of the property tax changes the"Legislature '' '' til: and industrial buildings; its biggest is the passed last session,Coryell said. ;� ,,h recently developed 200,000-square-foot "The city will do whatever it can to get _ Crossroads at Oakdale office/warehouse something of a real high-quality develop- development. menta" ■ g ` 'cost savings, convenience "We don't have a downtown now," said Sam Black can be reached at(612)288-2103 1 eaferencing Technology or sblackC�3bizjournals.com. Meals including lunch,dinner,morning and-afternoon snacks will be provided by Instant access to Over our on-site catering staff for your group. :7777.77;71,17;4-, - Conveniently located on the St.Paul campus i63:14 .7-°,7-1- ''' 2,000 Minnesota technology of the University of Minnesota,minutes from 01:4,, . ,,-,;,_„ . 11AA � r IIIIIIIIP"'� oci Z 2 zeal ■ it C River's Edge downtown business association October 18, 2001 City of Elk River 13065 Orono Parkway NW Elk River, Mn. 55330 The Rivers Edge Downtown Business Association, would like to extend our sincere thanks for the wonderful work that was done in the downown area this summer. The planters are a beautiful addition along with the new sidewalks. We have had numerous compliments about these planters and the flowers that are now in place. It was a pleasure to work with you on this project and we look forward to ,corking together on new projects to improve and revitalize the downtown business district. It has shown many that the City and community work well together when the goals are for the mutual benefit of the both. Once again, our sincere thanks, to all of you who have helped with this undertaking. Sincerely, Cindy Koonce Vic:, President cc: Tony Mikols, President • 717 main street nw • downtown • elk river, mn 55330 • (763) 441-6385 City of Elk River • Housing Plan • The City of Elk River and the surrounding area have and will continue to face strong population and household growth. Between 2000 and 2005 the City is expected to increase by 2,597 persons for a 15.8% increase and 982 households for a 17.3% increase. • The largest population growth has occurred in the 25 to 44 and the 5 to 17 age categories. This signifies that growth in Elk River has primarily been from families with children. The median age of Elk River in 2000 was 32. • The City has a very tight rental housing market with a low vacancy rate of 1.7% according to the 2000 Census. A current rental analysis found an even lower rate of 0.5%. The average cost of a two-bedroom apartment is $670. A household would need to earn approximately $12.90 per hour to afford the average two-bedroom apartment. The average industrial wage in Elk River was $11.54, which could only afford a rent of $600 per month. The Sherburne County average manufacturing wage is $18.35, which can afford a rent of$954 per month. • The homeowner vacancy rate is also low at 1.4%. Housing values have increased substantially in Elk River. In 2000, the median sales price was $160,000 with an average sales price of$174,820. To afford the median sales price of$160,000, a household would need to earn over $50,000 annually or $24.00 per hour. • • Households age 25 to 34 are typically your first time homebuyers looking to purchase entry-level homes. The median household income for this age segment is $49,319 which could afford to purchase a home priced at approximately $156,000. • A comparison of the average wages paid by industries in Sherburne County found that most are not sufficient to afford the median cost of a home in Elk River and some sectors would not be able to afford the average cost of a two-bedroom apartment. The lowest wages are found in the Trade and Services sector. • A balanced housing stock is key to meeting the needs of a diversity of age and income segments. • • Rehabilitation Strategies • Define a target area of Elk River by analyzing age of housing, valuation of housing and the condition of housing to establish a rehabilitation target area. • Have information available for residents on programs that are available for housing rehabilitation including but not limited to Rural Development, Tri-Cap, and MHFA. • Sponsor an application to the Small Cities Development Program to receive funds for owner-occupied and rental rehabilitation that can be used by property owners to make essential improvements. Multi-Family Housing • Identify land/parcels within the community that can be utilized for the development of multi-family housing. • Provide financial/resource assistance to projects that will develop affordable rental units. • Examine sites/areas that can be redeveloped to provide additional housing. Single-Family Housing • Develop an inclusionary housing ordinance that sets a standard for affordable housing development in new subdivisions. • Provide incentive such as reduced lot sizes, street widths, or fees for developers who incorporate affordable housing into developments. • Work with area employers to establish a homeownership savings program. Other • Sign resolutions of support for projects that are seeking funding from an outside agency to develop affordable housing within the Community. • Make policy changes through the City Comprehensive Plan and Zoning Ordinance that support housing demand. • Conduct an employee survey to gauge information from employees working in Elk River. This tool can be used to gather a variety of information on housing, commuting patterns, spending patterns, etc. • Elk River Minnesota Core CBD Implementation Meeting October 22,2001 Olt Agenda • t. Review revitalization context 2. Discuss"problem"statement s. Discuss proposed RFP area • \ 4. Discuss design guideline concepts 5. Review next steps Ehlers 8 Associates 2001 =a Revitalization Context . Focus areas — Northern area Western transition area - Core CBD `'P Ehlers 8 2001 Assocwt • 1 • Revitalization Context 42, • • Problem statements for each area • Area assessment • Strategies for each area • Site and strategy coordination • • Timing and process Ehler Associates 21101 • Core CBD 'wf Problem Statement • Lacks investment focus(Why invest?) • • •1tLacks connection to to rest of City • Fails to capitalize on Riverfront • Need to transition role from retail core of city • Other ideas? Ehlers S Associates 2001 Core CBD Revitalization Goals atte • Assure long term viability of downtown • Provide community focal point • Highlight Riverfront location • Replace market/economic obsolete buildings • Strengthen commercial climate • • Connect to rest of community • • Other ideas? - Ehiere S Associates :.,..' 2001 • 2 RFP Area • Define area as large as potentially acceptable • s • Create more options . No commitment to redevelop Ehers 8 Associates 2001 Design Guideline Concepts • • Mixed Use • Consider historical context study • Gateway orientation • "Traditional"downtown design • Brick,stucco,stone materials • Increased density • Pedestrian orientation • Strengthen connection to City kti • Other ideas Ehlers 8 Associates ,,,... 2001 Next Steps • Meet with developers • Evaluate historical context study • Prepare concept refinement • • Prepare communication plan • Prepare RFP materials • Define contextual issues(overpass,riverfront Atv trails,other?) Ehlers 8 Associates 2001 • 3 CAd co a 0 a CD C�., CD CD L."0 0 d P4- co 0 co 0• 0 0 K 0 CD CD Z t.-• J CT vi W N .-r N ,—` D C) nQc Q CDrA C - .. oCD CDD CD dp CDO fa., CD —• co 0 ca • p � C u,y,• p vco , i c O p. O •• - p a O (.D N 0 0. n ''0, N r+ � �. P� CCD cn N 0• 5 `C `,.3 p h O pQC �. 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