Corridor Development InitiativeColumbia Arena Site | fridley

March 25, 2015

FRIDLEY / COLUMBIA ARENA | Block Exercise Summary Sheets

Scenario #1 Scenario #2

Table one: 33 acre site

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Details:40 units of senior rentals 30 townhomes (8 affordable)Surface parking15,000 s.f. retail40,000 s.f. industrial70,000 s.f. city facilities and offices

ResUlts:Plenty of green spaceNot close to paying city back for their costsMillions of dollars short of viability

Details:140 market rate units90 townhomesIncludes senior housing15,000 s.f. retail40,000 s.f. city hall50,000 s.f. medical

ResUlts:Still way short of financially viable

Corridor Development InitiativeColumbia Arena Site | fridley

March 25, 2015

FRIDLEY / COLUMBIA ARENA | Block Exercise Summary Sheets

Details:16 single family homesAccess and connections across University to the park to the westWetlandHousing and sports facilityGovernment and community centerSenior and medical facilityMulti family apartments and some single family

ResUlts:Not close to paying city backMillions and millions away from viability even if you could sell the houses for $750,000 each

Scenario #1

Details:18 single family homes68 market rate rental 42,000 s.f. government/community center5,000 s.f. bike facility

ResUlts:Can’t repay cityMillions short of viable

Scenario #2

Table TWO: 22 acre site

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Corridor Development InitiativeColumbia Arena Site | fridley

March 25, 2015

Table three: 11 acre site

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FRIDLEY / COLUMBIA ARENA | Block Exercise Summary Sheets

Details:86 home ownership units30,000 s.f. office30,000 s.f. parking rampOutdoor skating rink in the center of site becomes a farmers market/amphitheater in summer. Space for community gatheringsSenior housing that is co-op ownedPedestrian walkway over University

ResUlts:Plenty of green spaceCan’t pay for the landLost millions/short millionsNot dense enough to attract developers or make cost/benefit sense

Scenario #1: rockafridley center

Details:28 Home ownership units80,000 s.f. community center with gym/pool/community space40,0000 s.f. office spaceOutdoor skating rink in the center of site becomes a farmers market/amphitheater in summer. Space for community gatheringsLarge community center on northern portion of the site, similar to the Shoreview Community CenterPedestrian walkway over UniversityPublic art incorporated into gathering space

ResUlts:Millions short of viable—not enough on the site to make it workNot close to paying the city backCity on the hook for community center, too

Scenario #2: Fridley community center