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03-10-2020 CC, HRA, and PC Work Session AgendaC ITY C O U N C IL/H R A/P C W O R K SESSIO N R IC H F IE L D MU N IC IPAL C EN TER, B AR T H O L O ME W R O O M MAR C H 10, 2020 6:00 P M C all to order 1.P reliminary consideration of a redevelopment proposal for 7424 Lyndale Avenue S outh. A djournment Auxiliary aids for individuals with disabilities are available upon request. R equests must be made at least 96 hours in advance to the C ity Clerk at 612-861-9738. AGENDA SECTION:Work Session Items AGENDA ITEM #1. STAFF RE P ORT NO. 7 WORK SESSION 3/10/2020 RE P O RT P RE PA RE D B Y: Melissa P oehlman, A sst. C D D irector D E PA RTM E NT D IRE C TOR RE V IE W: J ohn S tark, C ommunity D evelopment D i rector 3/4/2020 O TH E R D E PA RTM E NT RE V IE W: C ITY M A NA G E R RE V IE W: K atie Rodriguez 3/5/2020 I T E M F O R WO RK S E S S I O N: Preliminary consideration of a redevelopment pr oposal for 7424 Lyndale Avenue South. E X E C UT IV E S UM M ARY: The property at 7424 Lyndale Avenue South has been purchased by Lunieski and Associates (Developer) in the hopes of building a small mixed use projec t on the site. The existing building on the site is a former single-family home that had operated as a hair replacement clinic for many years. This business has since closed. The preliminary conc ept includes 30 apartments and 3,000 square feet of ground floor office spac e. The building is three-stories with a rooftop deck and lounge; parking would be primarily underground. As proposed, parking is in the right range for this type of development. Due to the high cost of struc tured parking, the Developer has determined that they would almost c ertainly require some degree of public financ ial assistanc e to make this project feasible. The most appropriate public funding identified by staff would be a Tax I ncrement Financing (TI F) District. This type of public assistance would require, at a minimum, that the Developer either make 20% of the units affordable to households earning 60% of the A rea Median I nc ome (A MI ) or contribute 15% of the generated TI F to the Housing and Redevelopment Fund. The property is zoned and guided for c ommerc ial use (C-2 and Community Commerc ial, respec tively ); however, the area includes a mix of multi-family residential and c ommercial uses. The c urrent zoning distric t does make some allowances for projects that inc lude residential use above commerc ial; however, as proposed both a zoning and C omprehensive Plan amendment are likely necessary. This proc ess would trigger the City 's requirement for a neighborhood meeting prior to consideration of the project by the Planning Commission and City C ounc il. D IRE C T I O N NE E D E D : Staff is seeking a first reaction from policy-makers. If the initial reaction is positive, then staff would recommend progr essing to the Housing and R edevelopment Authority (H R A) for the consideration of a Preliminary D evelopment Agreement. If policy-makers are less enthusiastic in their support, then staff would direct the Developer to modify their proposal prior to any additional considerations. B AC K G RO UND INF O RM AT IO N: A.H IS TOR IC AL C ON TEXT See Exec utive S ummary. B.P OL IC IE S (resolutions, ordinances, regulations, statutes, etc): None. C.C R IT IC AL T IMIN G ISSU E S: None. D.F IN AN C IAL IMPAC T: The Developer has determined that some degree of public assistance will likely be required to make the proposed projec t feasible. No financial analysis has taken place at this time. I f policy -makers are generally supportive of this ty pe of development in this location, the Developer will be required to submit application materials and fees nec essary to move forward with this analysis. E.L E GAL C ON S ID E R AT ION : None. ALT E R N AT IV E (S ): None. P R IN C IPAL PAR TIE S EXP E C T E D AT ME E T IN G: Bob Lunieski, Lunieski and Associates AT TAC H ME N TS : D escripti on Type P reliminary S ite P lan E xhibit 5' PARKING SETBACK 15' BUILDING AND PARKING SETBACK 8' PARKING SETBACK LYNDALE AVENUE SOUTHEXISTING SINGLE FAMILY EXISTING SINGLE FAMILY EXISTING SINGLE FAMILY 3 STORY APARTMENT BUILDING WITH ROOFTOP DECK & SKY LOUNGE 30 UNITS 32 UNDERGROUND PARKING SPACES APARTMENT BUILDING LINE ABOVE 1ST FLOOR 3,200 S.F. 1ST FLOOR APARTMENT COMMON SPACES 3,000 S.F. COMMERCIAL SPACE 35' BUILDING SETBACK ACCESS UNDERGROUND PARKING 105' - 11"5 6 EXISTING FIRE HYDRANT 12' - 0"93' - 11"40' - 0"EXISTING CURB CUT © 2019 TUSHIE-MONTGOMERY & ASSOCIATES, INC.August 2, 2019 Site Plan - Option - 27424 Lyndale Mixed Use 7424 Lyndale Ave S, Richfield, Minnesota 55423 0' SCALE = 10'20' 1" =20'-0" DEVELOPMENT SUMMARY PROPOSED MIXED USE APARTMENT BUILDING 30 UNITS 3,000 S.F. COMMERCIAL SPACE GARAGE 12,000 S.F. (32 PARKING SPACES) 1ST FLOOR 12,000 S.F.(9,000 S.F. APTS, 3,000 COMMERCIAL) 2ND & 3RD FLOOR 9,000 S.F. (APARTMENTS) 4TH FLOOR 1,500 SKYLOUNGE & ROOFTOP DECK