1A.1, TCAAP Market Analysis and Comprehensive Plan Discussion

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retail uses. The design standards for the Mixed Business District include; • No more than 2.2 million square feet; • Office showroom and office warehouse hall not exceed 15% (330,000 s.£) of the total square footage in the Mixed Business District; • Individual retail users shall not exceed 50,000 square feet, with the exception of two retail users may have a building footprint up to 100,000 square feet; • Individual warehouse building shall have a minimum of 10%retail or office; and • Buildings shall not exceed 60 feet in height. The Zoning Code lays out a framework for determining park dedication based on the acreage of land made available for sale by the GSA. Up to 450 acres of land requires a 10%park dedication requirement. The Zoning Code also states that at least one central community park of 20 acres shall be incorporated into the master plan, along with a minimum of four additional parks of at least 2 acres in size. Market Potential Analysis for the TCAAP Site Review Maxfield Research has prepared a draft analysis of the market capacity of the TCAAP site based on a five-year build out scenario. It is anticipated that the market capacity will change over time and will be affected by the actual timing of build out, which will likely exceed five years from today. The Draft executive summary has been attached to this memo (Attachment Q. It is difficult to have a full discussion regarding the market analysis without having the full document available. Additional discussion regarding the market analysis findings may be necessary when the full report is complete. The Maxield analysis identified a market demand for between 810-1,134 housing units on the TCAAP site, with an additional 204-272 senior housing units. This equates to a maximum market potential of 1,406 housing units,which is in line with the City's zoning regulations that cap the number of housing units to 1,500. The Maxield analysis indicates that there is a market demand for up to 56% (634 units) of the housing units to be market rate multi-family rental units and that there is currently a high demand for market rate rental in this area. This differs from the City's zoning regulations that cap the number of rental multi-family units at 15% (250 units) of the total units. City of Arden Hills City Council Meeting for January 28, 2013 P.•IPlanninglCity Council Memos12013W-28-13-TCAAP Market Study Discussion-Memo.docx Page 5 of 8