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HomeMy WebLinkAbout4.a. Project Updates EXECUTIVE SUMMARY Port Authority Meeting Date: July 16, 2019 AGENDA ITEM: Project Updates AGENDA SECTION: Old Business PREPARED BY: Kim Lindquist, Deputy Director AGENDA NO. 4.a. ATTACHMENTS: Retail Strategies Update APPROVED BY: LJM RECOMMENDED ACTION: Information Item ISSUE For the last year there has been a “project updates” item on the agenda. The item contains updates from Retail Strategies along with information from City Staff. Any questions can be addressed during this section of the agenda. The latest update sent to the Port is pasted below, with the exception of the first item: RETAIL The building permit is ready for the Event Space project in the TOPS mall; we are waiting on a SAC determination for the site, which is paid at permit pick up time. The applicant has also been notified about process for obtaining liquor license; application has not been received at this time. Multi-tenant Retail: Permit applications for each of the tenant build out space is in for review. Waiting on SAC determination and response to initial permit review comments. Warren’s property: Warren has indicated that he expects the concept plan for the commercial area to be completed next week and will drop it off when received. Merchants Bank site: Additional details are still being discussed regarding the site. Akron Ave: staff is working on the concept layout for the rec center and remaining commercial development opportunities on the sites. MGM retail space: The owner will split the property and a new prospect was reviewing a much smaller square footage. 2 Downtown: Staff intends to provide a verbal update at the Port Authority meeting on Tuesday the 16th. Canada Circle: Expecting to issue a foundation permit in the next couple of days. Waiting on some final plans relating to stormwater before issuing entire plan set. Notified by Chamber about organizing ground breaking for July 25! Hardware Store: Ribbon cutting scheduled for 11:30 Augusts 1st! Met with local resident who is investigating starting up a brewery in town. This is a different person than the one who met with the Council in the rural residential area of the City. Met with a gas station company and provided information about several commercial properties within the City. INDUSTRIAL UMore Industrial site. There continues to be some interest on the UMore site adjacent to DCTC. I have provided some additional information. There is no new information on the Opus site. Biscayne Business Park: Staff has received several inquiries about smaller users interested in the City. We have forwarded them to the developer, APPRO development. The final plat is on the Council meeting Tuesday night 7/16 and they hope to start construction on the first building this fall. Rosemount Business Park: Staff was notified by DEED that our proposal for the Business Park is no longer being considered. RECOMMENDATION Information Item We make retail happen. RETAIL RECRUITMENT UPDATES •Upland Real Estate Group –We spoke with Zach Stensland about the availability he has in the strip with Jimmy John’s and Great Clips. He has 1,400 sf available. He shared a lot of information with us about the market as a whole and the struggles there have been since there is now freeway access in the market. He also represents a handful of tenants and he is sending us that information. •Cerron Properties –Our team spoke to Bruce Rydeen again and he updated us on a few items on the property and the most recent activity. •National Auto Parts User and National Tire Store –We spoke to our contact here and he let us know that they are still extremely interested in the market. Also, they said both groups are actually interested. They would both want an acre each. We are going to continue to push on both of these. •National Shoe Retailer –We have reached out to our contact with this group again as we still believe they could be a good fit for the large space in Lisa Diehl’s property. They agreed to review this information and market again. •National Convenience Store –Our team has reached back out to our contact here to see if we can help them find another site in the market if they can’t make the original one work. We want to keep them interested in the market and find them a home. •National Wing Restaurant –We are continuing to make efforts to reach the Roseville franchisee. The manager said he is in the store sporadically and has said he will pass on our information. We are continuing to call the store to try to find them. ROSEMOUNT, MINNESOTA BETH MILLER PORTFOLIO DIRECTOR 205.314.0385 beth@retailstrategies.com June 2019