Laserfiche WebLink
From a real estate development perspective,staff believes the Yolite Street connection is not <br /> needed. And, it is possible to run a private stub road into the proposed Stone Brook site. This <br /> alternative would save the City money(at this point,an estimated $170,928). <br /> o Additionally,from a real estate development perspective,an alternative does exist to wait for a <br /> developer that is willing to take down the entire available site(about 5 acres)at one time. In <br /> that scenario,circulation/utilities/infrastructure could be planned for the entire site as a whole, <br /> and would make this conversation much easier(they City wouldn't be in the role of master <br /> developer). <br /> i. This scenario (waiting for a private master developer)would not allow Stone Brook to <br /> move forward with this proposed site. Stone Brook has respectfully opposed this <br /> option,and asked the City to reconsider. This site continues to be Stone Brook's#1 <br /> desired location. The challenge with this site location for the city is—timing/ <br /> opportunity cost(we have Stone Brook here today, but we don't have a private master <br /> developer that wants to take down the entire site today). <br /> C. REMNANT PARCELS,Staff Development Review Comments <br /> If Stone Brook was allowed to move forward with this proposed 1-acre site, it would create two <br /> remnant lots. <br /> i. The first remnant lot is roughly 1/2 acre, rectangular shaped, remnant parcel, located <br /> just east of the proposed 1-acre Stone Brook Academy site (just east of the potential <br /> Yolite Street connection). The lot would be roughly 85'wide and 275'deep. <br /> 4y <br /> Remnant Cot � s - <br /> 3 Acres � <br /> LQ' <br /> y � o <br /> k <br /> y c`� a4c <br /> Stone book - a <br /> This size of lot is not ideal/and is not something the City should be seeking (staff would <br /> not recommend for standard practice). This size of lot will reduce the pool of potential <br /> projects/users. This risk factor should be known. <br /> However,considering it's location (within The COR),this remnant site still carries merit/ <br /> marketable value. The COR allows for zero setbacks/green spaces,significant lot <br /> Page 8 of 17 <br />