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II. Increase the economic productivity of land,capital,or labor at specific locations,
<br /> particularly In Economically Distressed Areas
<br /> Increased Land Productivity
<br /> The potential for increased land productivity in Ramsey,as a result of the proposed Ramsey
<br /> Boulevard Interchange project,is substantial. Within 3/4 of a mile from the US 10 Corridor through
<br /> Ramsey, roughly 1,000 acres of land is available for development. This includes about 160 acres of
<br /> retail,240 acres of business parks,40 acres of mixed use (office,retail,institutional,residential), and
<br /> 500 acres of residential. Ramsey Boulevard is located at the geographic center of the US 10 corridor
<br /> in the City of Ramsey.
<br /> In terms of economic benefits,land productivity in Ramsey can be broken down into three sections:
<br /> (1) The COR, (2) Ramsey's Existing Business Parks,and (3) Ramsey's New Business Park.
<br /> The COR
<br /> The COR (Center of Ramsey) is the City of Ramsey's new downtown development. This 400+ acre
<br /> development is a true, transit-oriented, multi-modal,walkable, dense,urban development. The COR
<br /> is unique, as it is arguably the only suburban community in Minnesota to successfully implement such
<br /> a development. The COR is centered on US 10/ US 169, the Northstar Rail (Ramsey Station),the
<br /> BNSF Rail, and the Federal Mississippi River Trail (MRT). A primary direct access point to The
<br /> COR,is US 10 at Ramsey Boulevard.
<br /> This mixed use development is home to a long list of successful projects including residential, retail,
<br /> office,recreation,medical,government/public facilities, and much more. Notable government
<br /> facilities include the Ramsey Veterans Administration (VA) Medical Clinic,the Ramsey Municipal
<br /> Center Campus,the Northstar Commuter Rail Station, an 800-stall public parking ramp, and PACT
<br /> Charter K-12 School. The COR has roughly 170 acres of land that remains available for
<br /> development. At full build out,The COR is anticipated create a tax base of roughly$270 million and
<br /> over 2,200 households.
<br /> The COR development allows the City of Ramsey to maximize tax base while minimizing demand on
<br /> infrastructureincluding elimination of surface parking,provide multi-modal transportation options,
<br /> establish a walkable downtown,provide public spaces for the community to gather, and make
<br /> connections to the community's natural resources, such as the Mississippi River.
<br /> Without interchange improvements to The COR's primary access points on US 10,the ability to
<br /> complete this development will remain compromised (please see figure XX for The COR
<br /> development plan).
<br /> Existing Business Parks
<br /> The City of Ramsey is home to roughly 600 acres of existing business parks. These business parks
<br /> include office,warehouse,assembly,and various manufacturing operations;with the majority being
<br /> manufacturing. Although the existing Ramsey business parks are well established and relatively built-
<br /> out,room for expansion of existing businesses remains significant. Over 120 acres of land is
<br /> available for Ramsey businesses to expand. Based on forecasting from ACG Consulting,
<br /> development of the remaining 120 acres of existing business park land will result in roughly 3,500
<br /> new jobs with a roughly$50 million annual payroll,at full build-out.
<br /> US 10/CSAH 56 FAS LANE Application 14 City of Ramsey
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