Agenda - Council - 04/11/2017 - Laserfiche WebLink

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Subject's Neighborhood Analysis Subject's Neighborhood Boundaries The property is located in the eastern portion of the city of Ramsey.This market area is generally delineated as follows: North: Bunker Lake Boulevard South: Mississippi River East: Thurston Avenue/Western Anoka West: Armstrong Boulevard, and eastern Elk River beyond Neighborhood Access and Linkages The subject fronts US Highway 10, the main northwest/southeast thoroughfare in the area. US Highway 10 connects to US Highway 169 to the southeast in Anoka, and Highway 101 to the northwest in Otsego/Elk River. Highways 10, 169 and 101 are part of the Minneapolis/St. Paul freeway system and provide regional ingress and egress. Overall,vehicular access to the subject's neighborhood is average. The three major roads that branch off from US Highway 10 in the subject's immediate neighborhood are Sunfish Lake Boulevard (which the subject also fronts) and then Ramsey Boulevard and Armstrong Boulevard, both to the west of the subject. As discussed earlier, the subject is located in an area that has been identified as being part of a future road/transportation improvement project along Highway 10. The subject's zoning district code states "The city finds that the properties lying between Highway 10 and Burlington Railroad tracks are integral to the future improvement of the US Highway 10 transportation system. These properties are therefore in a state of transition...In order to preserve the land that is needed for the US Highway 10 Transportation System,the city has identified said corridor on its official map." Aside from the rise in acquisitions of properties along the corridor by the Cities of Ramsey and Anoka,the prices of many properties listed or sold in recent years have been negatively impacted by the anticipated/planned future reduction of access points along Highway 10, and also the cloud of eventual condemnation when the project begins. We have observed direct market evidence to this affect, including but not limited to, would-be buyers of properties walking away from purchases once they learn of the project. 481 Page