Grandview District Redevelopment - Edina

Twin Cities Suburbs
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Nathan
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Re: Grandview District Redevelopment - Edina

Postby Nathan » April 26th, 2017, 1:01 pm

This actually looks rally lovely and helps reclaim a good urban feel I the burbs, wouldn't be upset with this in Minneapolis even.

Multimodal
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Re: Grandview District Redevelopment - Edina

Postby Multimodal » May 3rd, 2017, 11:18 am

That street isn't part of this plan because it crosses property lines. The city has talked about putting it there, but has to work with multiple property owners. It would be a great addition.

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Anondson
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Grandview District Redevelopment - Edina

Postby Anondson » May 22nd, 2017, 9:06 pm

Interlachan Court Apartments, 5300 Vernon, were recently sold because the reclusive millionaire owner died at age 100, she kept rents far below market rates for Edina. The new owner is bringing the rents near to the immediate area rents and tenants are being shown the door (60 days) if they can't pay new rents. Many have lived there a few decades and are very elderly. An example was a resident paying $740 having rent jump to $1,195. Up $455/month.

http://www.startribune.com/with-rent-sp ... Apple+News
The city does not usually get involved in private real estate transactions, City Manager Scott Neal said. Edina, he said, does not have individual tenant protection policies.

“This is a policy area that we’re going to have to get serious about,” he said.
On the back of the story on Edina favoring teardowns...

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Anondson
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Re: Grandview District Redevelopment - Edina

Postby Anondson » July 18th, 2017, 10:55 pm

Bus barn site proposal by TrammelCrow approved according to tweet by Edina city manager.

Squidward
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Re: Grandview District Redevelopment - Edina

Postby Squidward » August 12th, 2017, 7:31 am

Regarding Grandview Green (Hwy 100 lid)
- Feasibility study conducted by city in May 2017
- Found total cost of lids and infrastructure would be $70-90M
- 13 acres, 2.4M new sq ft of private development
- Increases tax revenue from $2M to $100M per yr
- 5 year plan shows possible construction starting 2020 and ending 2022

The Villas (W 49th St)
- Developer will receive approval for 12 condos in a 4-story building and 5 SFHs

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Anondson
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Re: Grandview District Redevelopment - Edina

Postby Anondson » August 12th, 2017, 9:35 am

I’d like to see some of the math on that $2N to $100M per year.

min-chi-cbus
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Re: Grandview District Redevelopment - Edina

Postby min-chi-cbus » August 12th, 2017, 12:54 pm

Anondson wrote:
August 12th, 2017, 9:35 am
I’d like to see some of the math on that $2N to $100M per year.
Yeah....$100M per year added revenue would be a game changer for the city. I find that figure very hard to believe. Just some fuzzy math off the top of my head: $100M per year would have to equate to at least 10% taxes on properties worth $1B. I don't think a.) properties in Edina are taxed quite that high, and b.) the properties (improvements) would be worth $1B.

Maybe it was a typo, and should have read $2M to $10M per year. That'd be more believable. $2 - $100 is also an insanely wide range.

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Anondson
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Re: Grandview District Redevelopment - Edina

Postby Anondson » August 12th, 2017, 2:59 pm

Maybe it includes all improvements that could happen including already coming bus garage and future municipal site development?


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