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HomeMy WebLinkAbout4.a. Project Updates EXECUTIVE SUMMARY Port Authority Meeting Date: September 21, 2021 AGENDA ITEM : Project Updates AGENDA SECTION: Old Business PREPARED BY: Eric Van Oss, Economic Development Coordinator AGENDA NO. 4.a. ATTACHMENTS: None 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. The Morrison: Third floor sheet rock is in progress and exterior siding is being installed. Leasing has started for the first half of the residential portion and residents will begin to move in to the north half of the building in October. Demolition of the Medi-Car and expansion of the parking lot is expected within the next month, the building permit is waiting for pickup. Work on the parking lot has already begun. Breweries/Tap Houses: The OMNI Brewing group has submitted plans by CNH Architects for a Conditional Use Permit for a farm winery. The initial building will be an 8,000 s.f. tasting room with a 4,000 s.f. patio. The Planning Commission recommended the application for approval on August 24th. The Council will consider the application on September 21st. The Tap Society has submitted plans for a new 3,800 s.f. tap house as part of the Morrison Development. The Planning Commission approved the site plan and recommended the minor subdivision application for approval on August 24th. The Council will consider the application on September 21st. Dave Schmitz/North 20 Brewing has submitted plans for a building permit for a brewery located in northern Rosemount. The permit was approved and picked up on September 15th. Israelson property: Staff spoke with Warren Israelson on September 15th. He indicated that they have prepared building plans and elevations for the commercial space, and that we should see a final plat application for the first two senior apartments and commercial space within the next few weeks. Merchants Bank site: Work is moving forward on the Merchants Bank site. The building permit is ready for pickup and work should begin within the next month. Rec Center: Work on the public-private partnership Recreation Center continues. The purchase agreement for approximately 13 acres of land should be considered by the City Council in October, which would initiate the project in earnest. UMore Residential: Amber Fields received preliminary plat approval and a subdivision agreement is being drafted for the phased development of that project. CDA Property: The CDA will present the sale of the Akron property to the CDA Board at the September meeting and staff will reach out to the CDA for more information at that time. The proposal was moved from the August meeting, so applicants could have additional time to provide more information. KJ Walk at 2800 145th: The caretaker/community room framing is in progress. They’ve also submitted for a building permit for a 16-unit garage for the 3rd building. Akron & Hwy 42: Staff is reaching out to commercial users regarding sites along Akron. Several parties have expressed interest, especially as plans for the rec center move forward. Staff presented the Commercial Visioning Plan at a Minnesota Real Estate Journal summit and to residents at the Food Truck Festival. Multi-Family: Staff continues to meet with multi-family and mixed-use developers for sites at Akron and UMore. Interest remains high in the area and staff is working to generate interest prior to the Rec Center becoming public. Lorenz Clinic: Plans have been submitted for a tenant build out in the available space. Casey’s: Staff has been in conversation with Casey’s and is planning in person meetings regarding several sites in Rosemount. Housing: Staff is working with a developer interesting in developing luxury townhomes. INDUSTRIAL UMore Industrial site: Staff met with two potential industrial users in August and September regarding potential development on the Opus and UMore site. The prospective user is highly interested in the site and further talks are scheduled. Biscayne Business Park/ Cerron Commercial Properties: APPRO finished work on the first spec building, which is completely leased. A ribbon cutting for the entire building and the three businesses is scheduled for October 1. Rosemount Business Park: Project Osprey’s application was approved August 17th Council meeting. Over the last several weeks, staff has been working to finalize the Development Agreement and TIF Agreement. The TIF Agreement will be on the October meeting agenda. Staff also submitted two applications for State incentives through the Department of Employment and Economic Development. The Minnesota Investment Fund application was approved for a $375,000 on September 10th. Staff is currently working with DEED and the business on the grant and contract agreements. Staff expects to hear back on the TEDI grant sometime in late October or early November. A developer is exploring a possible spec industrial project immediately south of the Business Park. Preliminary concept plans have been shown to the council at a work session, where a general support was indicated. Staff met with The Retrofit Companies in August. They are interested in consolidating their two locations (office and distribution) into a single Rosemount facility in the Business Park. They would consider a 40,000 square foot facility with more than 30 employees. Opus Site: Staff met with two potential industrial users in July regarding potential development on the Opus and UMore site. Staff also completed an additional RFI for the Opus site for an industrial user. Scannell Project: Scannell is going to the Planning Commission for site plan review, preliminary and final plats, and a rezoning. Council will be adopting the AUAR for this project September 21. The project is currently in the agency review period for the comp plan amendment covering the southern portion of that site. MRCI: A Conditional Use Permit (CUP) that would bring upwards of 20 office employees to the Business Park was approved. Rahn Home Services will be making this space their headquarters. A notable piece of the transaction is the property transferring from a nonprofit ownership to private entity, meaning it will generate property taxes. OTHER Minneapolis Real Estate Journal: Staff presented at the MREJ Land Summit on September 15th. This aligns with goals set out in the marketing plan. Staff plans to highlight industrial sites and new commercial opportunities related to the Commercial Visioning Project. Downtown Façade Grant: Staff announced the grant program at the beginning of September. The program is being highlighted via social media and press releases. Staff also physically brought the program guidelines to a number of business owners. So far eight business owners have indicated they are likely to apply for the program. Money Magazine: Rosemount was highlighted as #32 on the top 50 “Best Places to Live in the United States” by Money Magazine. South of the River Real Estate Summit: Staff collaborated on the Mayor’s presentation for the 8th Annual South of the River Real Estate Summit on September 16th. Food Truck Festival: The food truck festival occurred on Saturday September 18th. Staff tabled at the event with the Commercial Visioning boards to share with residents.