Wooddale Station Area / PLACE Proposal - St. Louis Park

Twin Cities Suburbs
Multimodal
US Bank Plaza
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Re: Wooddale Station Area / PLACE Proposal - St. Louis Park

Postby Multimodal » January 15th, 2019, 8:42 am

PLACE buys in St. Louis Park, starts work:

https://finance-commerce.com/2019/01/pl ... arts-work/

Ubermoose
Nicollet Mall
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Re: Wooddale Station Area / PLACE Proposal - St. Louis Park

Postby Ubermoose » January 17th, 2019, 11:06 am

This morning I watched as a construction worker started marking the sidewalk just to the south of the Wooddale bridge. This section of sidewalk has hardly had time to dry as it was replaced during the reconstruction of the bridge and surrounding area this fall.
I wonder how many times this area will be torn up in the next few years? I'm sure that there wouldn't be any cooperation between any of the projects so I'm guessing it will be 2 more times. Once for Place and then again when they tunnel the bike and walking path as a part of the Wooddale station project for the SWLRT.

Multimodal
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Wooddale Station Area / PLACE Proposal - St. Louis Park

Postby Multimodal » January 24th, 2019, 8:36 pm

Ubermoose wrote:I wonder how many times this area will be torn up in the next few years? I'm sure that there wouldn't be any cooperation between any of the projects so I'm guessing it will be 2 more times. Once for Place and then again when they tunnel the bike and walking path as a part of the Wooddale station project for the SWLRT.
Funny you say that when, in another thread, on the development on the NW corner of Xerxes/York & 66th, someone complained that because a planned project *wasn’t* completed, there weren’t good sidewalk facilities: Southdale Area Development - Edina
https://r.tapatalk.com/shareLink?share_ ... are_type=t

The best laid plans…
Last edited by Multimodal on January 24th, 2019, 8:36 pm, edited 1 time in total.

Multimodal
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Re: Wooddale Station Area / PLACE Proposal - St. Louis Park

Postby Multimodal » January 24th, 2019, 8:38 pm

Detailed (and unlocked!) article on PLACE’s Via project (Via Sol and Via Luna):

https://www.hometownsource.com/sun_sail ... aee14.html

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Anondson
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Wooddale Station Area / PLACE Proposal - St. Louis Park

Postby Anondson » June 7th, 2019, 6:46 pm

Financing of Via Sol and Via Luna updates in the upcoming June 10 agenda for the study session. https://www.stlouispark.org/home/showdocument?id=13752
PLACE is working with a tax credit investor, R4, that is considering purchasing the housing bonds for the Via Luna apartment building (to be constructed on the South Parcels) prior to their expiration on June 28, 2019. R4 would replace Old National Bank and become the new holder of the Note until the project’s permanent financing occurs. However, the investor is requiring that PLACE guarantee the financial performance of the project’s 33 market-rate units, which PLACE is unable to provide. PLACE therefore is requesting to remove those units from the project and add two more affordable units, for a total of 50 units, all affordable at 60% AMI. This would result in a 38% reduction in units from the currently required 81.
So the south building, the one adjacent to the LRT station, would lose all market rate, gain two more affordable units, but total units would be reduced in the south building. The north building has not unit count changes.

Multimodal
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Re: Wooddale Station Area / PLACE Proposal - St. Louis Park

Postby Multimodal » June 10th, 2019, 9:34 am

It amazes me how complicated these financing deals are.

Is the loss of market rate housing a big concern?

rmc
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Re: Wooddale Station Area / PLACE Proposal - St. Louis Park

Postby rmc » September 11th, 2019, 9:17 am

Not much has taken place at the site this summer. Does not give me warm fuzzies about the timeline. Really guessing the second phase of the project isn't getting secured. The city project site hasn't had an update since December. https://www.stlouispark.org/government/ ... /via-place

Multimodal
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Re: Wooddale Station Area / PLACE Proposal - St. Louis Park

Postby Multimodal » October 4th, 2019, 10:40 pm

That would be a huge loss for the city and the area and the SWLRT.

Unless there’s a for-profit vulture ready to swoop in.

rmc
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Re: Wooddale Station Area / PLACE Proposal - St. Louis Park

Postby rmc » October 8th, 2019, 10:09 am

I'm not worried long-term. SOMETHING will go in there; the property will be too valuable. I commend the city for trying to get something environmentally and civically progressive, but it seems like it might have been a little too much of a reach.

Ubermoose
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Re: Wooddale Station Area / PLACE Proposal - St. Louis Park

Postby Ubermoose » November 6th, 2019, 11:22 am

The planning commission is holding a public meeting concerning the amendments to this project tonight at 6:00.
On Oct. 7, 2019, PLACE submitted an application for a major amendment to their planned unit development to reconfigure the design of the south site (Via Luna). The request includes:
•Relocating the residential building to the corner of Wooddale Avenue and West 36th Street.
•Relocating the hotel to the east side of the site. The site plan and the appearance of the buildings remain largely unchanged.
•Reduction in the height of the hotel from six stories to five stories
•Relocating most of the parking from an above ground ramp to underground parking and a small surface lot.
•Reduction in the number of residential units on the south parcel from 84 units to 50 units. All 50 units will be affordable at 60 percent area median income.

rmc
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Re: Wooddale Station Area / PLACE Proposal - St. Louis Park

Postby rmc » November 6th, 2019, 12:42 pm

PLACE/Via seems stalled out. They haven't been able to meet any of the deadlines on this project over multiple years. It was a bold plan with lots of neat features, but it's going precisely as its detractors predicted. I was a supporter of this, but the goalposts have continually moved enough where I'm questioning how long this will be allowed to continue.

Ubermoose
Nicollet Mall
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Re: Wooddale Station Area / PLACE Proposal - St. Louis Park

Postby Ubermoose » November 13th, 2019, 9:29 am

I've been trying to figure out why there has been a crane sitting in the fenced area at Wooddale for the past week or two. This morning I saw that there's a train parked to the west full of more track. I'm guessing it will be offloaded soon.


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