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vision. He said while working in both Oakdale and Roseville he learned to have a clear vision of <br /> what you want and the necessity to have agreement with the Planning Commissions and <br /> Councils as well as patience to get the development you want. He said they were aggressive in <br /> design standards so developers knew what the vision was and shared the importance of being <br /> ready with zoning etc. because to developer's time is money. Mr. Waldron stated the Hy-Vee <br /> sites we went farther with having preliminary materials ready such as market studies, soil <br /> studies, etc. to help facilitate development and that they relied on past relationships with <br /> developers and the real estate community. He also encouraged a single point of contact to <br /> facilitate information better and added their Mayor worked directly with developers too which <br /> was an asset. He suggested being aggressive and moving quickly while being on same page as <br /> important aspects going forward. <br /> Stacie Kvilvang, Ehlers & Associates, said the existing retail needs visibility and with the loss of <br /> visibility may need help to entice them to stay and thrive. She said while fees are needed and <br /> necessary high intense users such as restaurants may need help too and suggested establishing <br /> loan programs for items such as WAC/SAC credits. <br /> Community Development Director Gladhill offered the audience the opportunity to ask questions <br /> via the comment cards or the online poll which will be answered during the last half hour of the <br /> session or during the one-on-one portion at the end. <br /> 3.03: Residential—why all the apartments? <br /> Community Development Director Gladhill said The COR was planned as a transit-oriented <br /> development, which traditionally needs high density residential. He said as this vision for <br /> housing continues to receive much attention the question is: Are we saturated for multi family? <br /> Ms. Kvilvang said while it is still a few years out we may have reach a bubble for apartments in <br /> downtown Minneapolis but not first and second ring suburbs anytime soon. She said there has <br /> not been a lot of new apartments constructed in 25 years and Ramsey being `next door' and <br /> offering more of a visionary product resulted in seeing more high end market rate apartments <br /> with amenities such as theaters, pools, and outdoor areas. She suggested the City may wish to <br /> pause and look at how many more units would make sense and how they will succeed with retail, <br /> adding you do not want one concentrated type of housing but a variety. <br /> Mr. McComb said he was impressed with the amount of housing already developed in The COR <br /> and filling up the center will help. He said the global trends of millennials show they will not be <br /> as affluent as generations of the past and have more a "gig" economy which results in <br /> inconsistent flow of income because of the recession. He said this trend results in increasing <br /> demand for affordable housing and homebuilders cannot build affordable single family homes at <br /> $250,000-$260,000 so rental will be important, which will be positive for The COR as people <br /> will take advantage of the pricing in Ramsey. He shared about a trend where Hy-Vee is building <br /> in half-trade areas such as Farmington and Lakeville which offers residential plus farming as <br /> another alternative. <br /> The COR Market Panel Moderated Session / October 27, 2016 <br /> Page 4 of 9 <br />