Ramsey Resident - 2015 - September/October

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evelopment eport Your Source for Development News in Ramsey City Owned Properties Sold for Private Market Development 2015 is anticipated to be a big year for the City of the north side of Sunwood Drive and west of Rhinestone Ramsey in the local real estate market. As of July, the e PSD City has closed four land transactions with one more on LLC development is expected to commence in phases. the horizon.Phase one, a four-story, 121-unit, market-rate, apartment e City of Ramsey owns over 100 acres of commer- e Draw Park and Amphitheater, is cial, industrial, and residential land set to begin construction this summer available for private market develop-and is targeted for completion by fall e 100 acres are divided up 2016. into 18 individual properties and Caseys General Store purchased are currently being marketed for sale 1.36 acres of city owned land located by CBRE. A large portion of City e COR, at the e intersection of Ramsey Boulevard and CORRamseys new downtown eir 4,500 square development served by the North-foot store is anticipated to begin con- star commuter rail line.struction this fall and to be completed e City Council has identi-by late 2015 or early 2016. ed the sale of City owned land as GS Land purchased a portion of a priority. Selling City owned land the Citys 20.5 acre former munici- returns tax exempt parcels back onto Nowthen is strategy aims to Boulevard and Alpine Drive in East reduce the tax burden on individual Central Ramsey. GS Land LLC will property owners across the City; be developing their newly purchased and promotes the establishment of new tax base within property into a single family residential neighborhood. the community. is development is known as the Harvest Estates Plat; From May to July 2015, the City closed purchase which covers 14.86 acres and includes 32 individual agreements with PSD LLC, Caseys General Store, GS single family lots. GS Land anticipates mass grading and Land LLC, and Meadow Creek Builders. construction of public infrastructure to be completed in PSD LLC purchased 15 acres of City owned land 2015. is property sits on Common Bond Communities is expected to pur- e COR is proposed project is a 47-unit workforce apartment complex, in- cludes quality architecture, and is set for completion by late 2016. For information on development opportunities in Ramsey, please contact the Citys Economic Develop- ment Department: 763-433-9868, pbrama@cityo- framsey.com, or cityoframsey.com/economic-develop- ment. September/October 2015 ¤ Ramsey Resident 3