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MEMO <br />Date: January 6, 2017 <br />Pat Brama-City of Ramsey Community <br />To: Development Director <br />From: Brian Pankratz, CBRE <br />City of Ramsey Location for Stone Brook <br />Subject: Academy <br />cc: <br />Patrick <br />CBRE <br />COMMERCIAL REAL ESTATE SERVICES <br />As part of the proposed Stone Brook development, I would support the Outlot B or the <br />pads known as Parcel 42. The desire to create and continue retail development seems to be <br />the focus of the City Council and the residents of Ramsey. The Stone Brook +/-10,000 SF <br />daycare reviewed all the potential options within the COR and chose the 1 acre Outlot B <br />location as their preferred choice. <br />For Outlot B I understand there are utilities installed adjacent to the site from prior <br />development work that has some impact on layout/development. In my opinion Yolite is <br />not a necessary access road for the development but I am looking at it from a real estate <br />perspective and not policy. It will be key that Stone Brook and other users have access <br />directly off of Sunwood. The location has existing utility service needed from what I <br />understand for development. The parcel 42 parcels are contiguous to other retail creating <br />synergy and right off of Armstrong providing better signage rights. <br />Stone Brook Academy has had numerous meetings with CBRE and City staff on potential <br />locations, fees, development issues, and approval process. <br />The pricing at $3 PSF seems low but to encourage development feel the City moves forward <br />with a slight increase to $3.50-4 PSF. They will make up the cost difference over time <br />through building fees, property taxes, additional amenities to serve the COR/Ramsey, and <br />provide new families with a service that is currently not available in the immediate area. <br />