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Development Director's _Report Development Director Hutmacher reviewed the TCAAP Redevelopment Code with the JDA. She discussed the work the City had completed on the TCAAP Master plan since November of 2012 to the present. It was noted that through public comments and open houses, the City gathered input on community preferences for TCAAP development. Development Director Hutmacher indicated that residents want to see TCAAP developed in a similar style as the rest of the City but with a few notable differences: 1. Residents felt that TCAAP should meet the needs and desires of younger generations. 2. Residents wanted a walkable pedestrian friendly community with neighborhoods connected to each other and to convenient retail, services, and entertainment. 3. Residents wanted a wider variety of housing options to serve young professionals, empty nesters and seniors. 4. Nearly everyone shared the view that TCAAP should be developed as a special place with high-quality development and amenities. Development Director Hutmacher explained that the City Council wanted to avoid creating a plan that was undevelopable in the market. The Council held discussions with representatives of commercial/industrial, retail, multi -family, single-family and senior markets. From these discussions, the Council learned: • Residential mixed-use is not supported by the market. Multi -family developers considered mixed-use requirements, particularly in the suburbs, as a serious disincentive and a barrier to development. • Quality multi -family development in suburban locations would likely need tax increment financing or other subsidies to close the gap between construction costs and lease revenues. This was recently demonstrated with the approval of $7 million in TIF for a 484 -unit multi -family development in Brooklyn Park. • Arden Hills is a desirable location for single-family homes due to the quality and reputation of the Mounds View School District. Developers and school district representatives agreed that families with school-age children are most likely to live in single-family homes. Townhomes and apartments do not appear to be preferred housing products for young families. • Arden Hills is also a desirable location for empty -nester housing as residents choose to downsize from their existing homes, but stay in the community. Empty -nesters desire smaller, one level homes with upgraded features and maintenance -free living. Popular empty -nester products include twin homes and attached and detached townhomes. • The Council heard from commercial/industrial developers that amenities, proximity to retail, services and trails, are very important to attract businesses. Businesses even use proximity to amenities as a recruiting tool.