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Home My WebLink About6.a. Land Use Discussion and Met Council Presentation EXECUTIVE SUMMARY Port Authority Date: October 18, 2022 AGENDA ITEM: Land Use Discussion and Met Council Presentation AGENDA SECTION: New Business PREPARED BY: Eric Van Oss, Economic Development Coordinator AGENDA NO. 6.a. ATTACHMENTS: Land Use Maps APPROVED BY: LJM RECOMMENDATION: Information Item BACKGROUND At the last Port Authority meeting the Commissioners asked to have a better understanding of what sites and acreage were available within Rosemount for new residential and commercial redevelopment. Additionally, they asked how land use acreages have changed between iterations of Comprehensive Plans. Staff has compiled data from previous Comprehensive Plans to illustrate the growth of acreage devoted to high priority uses as outlined by the Council’s strategic plan. Staff also included data on the City’s current benchmarks for affordable development and the amount of undeveloped land currently guided for multifamily, as well as the current breakdown of multifamily units in the City. Land use maps showing the acreage and location of undeveloped commercial, high density, medium density and low density are also included. Staff invited Hilary Lovelace, a Senior Housing Planner for the Metropolitan Council, to discuss housing development in Rosemount as well as the Metropolitan Council’s role in guiding land use and Comprehensive Plans. The tables below show the growth of land guided for commercial, high density, low density, and business park. This data was drawn from the 2010, 2020, 2030 and 2040 Comprehensive Plans. Land guided for each category grew in each decade’s update with low density and business park having the most significant growth. Land guided for commercial uses grew moderately, while land guided for high density grew more slowly. The most significant jump in land designation occurred between the 2010 and 2020 Comprehensive Plans when large tracts of land east of Highway 3 were re-guided from agricultural use. Commercial use has historically been limited to west of Highway 3 with growth areas targeted for the Highway 3 and County Road 46 intersection. This changed after 2020 as the Comprehensive Plans refocused commercial growth along County Road 42 between Highway 3 and Highway 52. The commercial parcels at Highway 3 and County Road 46 intersection were reguiided similar to the adjacent parcels as light industrial. This was done because commercial was more likely to development near new residential development opposed to the business park. Commercial Land Comp Plan Year 2010 2020 2030 2040 Acres 140 750 757 975 Percent Total 0.61% 3.3% 3.3% 4.2% 2 High Density Comp Plan Year 2010 2020 2030 2040 Acres 39 110 136 233 Percent Total 0.17% 0.5% 0.6% 0.9% Low Density Comp Plan Year 2010 2020 2030 2040 Acres 2,731 3,291 4,004 4,724 Percent Total 12% 15% 16.5% 18.2% Business Park Comp Plan Year 2010 2020 2030 2040 Acres 454 845 1,422 2,146 Percent Total 2.01% 3.7% 4.5% 6.4% The chart below outlines the current parcels guided for multifamily that remain undeveloped as of 2022. There are 4 parcels totaling approximately 59 acres centered on the County Road 42 and Akron intersection. Several of the sights have proposals for development, but none have advanced beyond the planning commission at this time. The City allows for 40 units per acre in these developments, however most development proposals will have slightly fewer units than the allowable maximum. This is due to site constraints with several of the sites and the need for ponding. Undeveloped Multifamily Parcels Site Acres (Multifamily) Max Units (40/acre) Amber Fields 28 1,114 (740 proposed) CDA Property 10 400 (336 proposed) Emerald Isle 13 520 Lennar Parcel 8 320 (225 proposed) The following table shows the acreage and breakdowns by land use of the undeveloped parcels targeted for future development as outlined by the 2040 Comprehensive Plan: Land Use Acres Percent Low Density Residential 1,563 48% Medium Density Residential 426 13% High Density Residential 146 5% Multi-Use Residential 455 14% Community Commercial 372 12% Regional Commercial 265 8% Total 3,277 100% The following table shows selected commercial and high-density residential sites by acreage as outlined by the 2040 Comprehensive Plan. Staff also included a table of developed commercial sites within the metro that are of similar size in order to better understand the scale of development that these development sites could accommodate. 3 Site Acres Hwy 3 and County Road 42 (High Density) 7.58 Hwy 3 and County Road 42 (Commercial) 40.82 145th Street and County Road 42 (Commercial) 17.84 Akron and County Road 42 (Commercial) 51.44 Akron and County Road 42 (High Density) 7.93 CDA Property (High Density) 18.26 Emerald Isle (High Density) 10.28 UMore – Amber Fields (Commercial) 21.48 UMore – Amber Fields (High Density) 28.97 Eastern County Road 42 (Commercial) 22.67 Comparable Commercial Sites Site Acreage Richfield Hub Shopping Center 16 Valley Creek Development (Woodbury) 9 Crossroad Development (Lakeville) 12 Rosemont Crossing (Starbucks) 6.5 Rosemount Village (Cub) 10 Lakeville Hy-Vee Development 18 The Metropolitan Council updates its 30-year forecasts at least once per decade. Forecasts indicate when, where and how much population, household and job growth the region and its communities can expect. Part of these forecasts include each City’s Affordable Housing Need Allocation. The need reflects what share of forecasted regional household growth will make less than a set threshold of income and therefore need affordable housing. The Allocation is the determination of each community’s share of this regional need and the first step in helping to determine the housing goals and objectives in local comprehensive plans. Met Council staff provided data showing each “planning decade’s” Need Allocation and total number of units built within that decade. For the most current decade, Rosemount is forecast to need 885 units of affordable units. In the previous decade (2011-2020), Rosemount built 90 affordable units or about a quarter of the forecast need. Affordable Housing Allocation (Met Council) Planning Decade 2011-2020 2021-2030 Met Council Allocation 360 885 Units Built 90 151 (324 proposed) Furthermore, the Metropolitan Council breaks down Affordable Housing Need Allocation by Area Medium Income Thresholds (AMI). The largest need for affordable units is for those residents making 30% or below the AMI. At this date, all affordable development proposals have been set at 60% AMI. 60% AMI is the most common threshold for affordable projects within the metro, while deeply affordable units at lower AMI thresholds are relatively rare. Within the last two planning decades, there have not been any proposals for units below 30% AMI. Affordable Housing Need Allocation At or below 30% AMI 449 31-50% AMI 243 51% to 80% AMI 193 Total Units 885 4 In December 2021, staff collected data on properties with 10 or more units per building that were enrolled in the City’s Rental License program. There were 17 total buildings within this category, representing a total of 878 rental units citywide. 462 units were restricted by either income or age, representing about 53% of the total units citywide. 235 units were age restricted and reserved for seniors, representing about 28% of the total units citywide. 227 units were income restricted. These units have strict income thresholds at various family sizes. 416 units are considered market rate without age or income requirements. 429 units were built after 2010, representing slightly less than 50% of total units. 241 affordable or senior units were built after 2010, while 188 market rate units were built after 2010. The vacancy rate in Rosemount is extremely low with no building having more than 5% of units vacant. A healthy rental vacancy rate typically is between 7-8%. Within the metro, vacancy rates were at 4.1% during the third quarter. Rosemount Multifamily Rentals with 10 or More Units Address Units Affordable (Y/N) Year Built Price Range Vacancy 14550-14630 Shannon Parkway 96 No 1987 $1,195-1,325 3% 14595 Dodd Blvd. 11 No 1979 N/A 0% 2470 145th St. W 20 Yes 1982 % of income 0% 2951 132nd St. W 12 No 1960 $1,000-1,525 0% 14595 Cimarron Ave 23 No 1966 $1,010-1,502 0% 3762 145th Street W 28 Yes (Low-Income Housing Tax Credit) 1989 % of income 0% 13441 Carbury Way 32 Yes (Workforce) 2007 % of income 0% 14500 Cimarron Ave 36 Yes (Low-Income Housing Tax Credit) 1992 $844-1,161 0% 2900 145th Street 39 Yes (Section 8/Senior) 1982 % of income 0% 3101 Lower 147th Street W 44 Yes (Senior) 1997 % of income 0% 15850 Chippendale Ave 49 Yes 2020 % of income 0% 14736 Cambrian Ave W 60 Yes (Senior) 2015 % of income 0% 2930 146th St W 108 22 Affordable 2008 $1,450-2,607 0% 14344 Cameo Ave 92 Senior/Assisted 2015 N/A 0% Prestwick Place Townhomes 40 Yes 2018 % of income 0% 2810-2820 145th St. W 64 No 2019 $1,275-1,525 4.5% 14589 S Robert Trail S (The Morrison) 124 No 2021 $1,245-2,295 5% RECOMMENDATION None, informational update only. ', . RC (130,67 Acres) • HDR(28,2 Acres) - @il:ifi$!iffili(l HDR (16,97 Acres) MDR(148,46 Acres) LDR (119,12 Acres) '' IJaillll Ill �� -- MDR (135,03 Acres) LDR (388,39 Acres) Esc HDR(27,89 Acres) Type - (1234 total acres) D CC - Community Commercial (218 ac) D HDR - High Density Residential (73 ac) D MDR - Medium Density Residential (283 ac) RC - Regional Commercial (152 ac) LDR -Low Density Residential (508 ac) � lmlilf • • •