Loading...
HomeMy WebLinkAbout4.a. Project Update EXECUTIVE SUMMARY Port Authority Meeting Date: July 21, 2020 AGENDA ITEM: Project Update AGENDA SECTION: Old Business PREPARED BY: Eric Van Oss, Economic Development Coordinator AGENDA NO. 4.a. ATTACHMENTS: Davis photo APPROVED BY: LJM RECOMMENDED ACTION: Information Item ISSUE Previous discussions with the Council and Port Authority indicated a desire for more information regarding completion of workplan activities. The following highlights some of the project and economic development activities since the last Port Authority meeting. COMMERCIAL The Morrison: Demolition and infrastructure work began on June 29th. Both the Rosemount Mall and Shenanigans have been demolished. Carousel Way: Construction has begun on the Davis multitenant medical building (photo attached). Brewery: No update at this time. The applicant and owner indicated they would like to start construction in Spring 2021. Multi-tenant Retail: Noodles had a ribbon cutting on August 5th at 10:30am. Emerald Roots Salon: Emerald Roots Salon opened in June and had ribbon cutting on July 15th. The Clover: Rudy’s Redeye Grill will be rebranded as The Clover, and indicated they would start interior renovation during the summer. Beyond that, there has been no new information for some time on this change. Israelson property: Mr. Israelsons application was continued to the July 28th Planning Commission meeting. The application is a combination of residential and hotel; the memory care facility has been dropped from the application. There is no identified flag for the hotel. Merchants Bank site: No new information at this time. Akron Ave: Staff has restarted work with partners regarding the indoor recreation center. MGM retail space: Top Ten Liquors has a lease for the site pending approval of a liquor license. The City Clerk has received their application and the public hearing for the license is scheduled for August 4th. CDA vacant property off Akron Avenue: No update at this time. Car Condos: They are updating their timeline for permit application and construction post COVID-19. No new information at this time. UMore Residential: The Board of Regents approved the purchase agreement with Maplewood Development. They have a 6-month due diligence timeframe and will be reviewing existing documentation related to the site. They had one recent meeting with staff and will be making modifications to a concept over the next month. Staff indicated they would like a joint meeting with the developer, Council, Port Authority and Planning Commission sometime in the early fall, depending upon the development plans of the developer. If things move at a reasonable pace, the developer indicated building could occur the spring of 2022 INDUSTRIAL UMore Industrial site: Nothing new to report. Biscayne Business Park/ Cerron Commercial Properties: The spec building will have the shell completed within the next 10 days and Cerron is in conversation with 2 potential prospects. They also have a new prospect for a 20,000 s.f. industrial building. Rosemount Business Park: Staff checked in again and the most pressing issue is between CP and UP rail lines. Staff also provided a response to an RFI from DEED for an industrial user on the Pahl, shovel ready site. We partnered with MERC and Xcel in pulling together requested information. OTHER Commercial Visioning Request for Proposal (RFP): The RFP will be discussed in a standalone memo. ELF Grant: The City received an Environmental Legacy Fund grant through Dakota County for the Morrison redevelopment. The grant is for $500,000 and can be used for demolition work and interior abatement.