10-18-17 JDA Agenda Packet - Laserfiche WebLink

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Proposed Location RICE CREEK COMMONS 4 Rice Creek Commons is the premier redevelopment site in the Minneapolis/ Saint Paul metropolitan region. Ramsey County purchased a 427-acre parcel of the former Twin Cities Army Ammunition Plant(TCAAP) in Arden Hills with the goal of revitalizing a long-dormant industrial area into a vibrant residential, commercial and retail area. The site was rebranded Rice Creek Commons, in reference to the section of Rice Creek which flows through the development and will provide the setting for beautiful walking and biking paths to augment other recreation opportunities planned for the site. Rice Creek Commons is located in Arden Hills, Minnesota, a first-tier suburb of Minneapolis and Saint Paul. Development Team The development team consists of Ramsey County, the City of Arden Hills, the TCAAP Joint Development Authority (JDA), and Alatus. Ramsey County purchased the 427-acre site from the U.S. Army and controls 100% of the site for development purposes. While geographically the smallest county in Minnesota, Ramsey County is the most densely populated and second-most populous county, with 510,000 residents. It is comprised of 18 cities and one township in the heart of the Minneapolis/Saint Paul metropolitan area. Saint Paul, the state capital, is the County’s most populous city. Ramsey County is rated “AAA” by Standard & Poor’s and Moody’s. The City of Arden Hills has land-use authority over the site. Arden Hills is a first-tier suburb of both Minneapolis and Saint Paul, and is a vital, attractive community of 9,600 people. Arden Hills serves as home to large corporations, small to medium-sized businesses, and two private universities. The city was chosen as one of the 50 Best Suburbs in America in 2014 by Business Insider. Ramsey County and Arden Hills created the JDA to solely oversee the redevelopment of Rice Creek Commons and streamline the development process. The JDA selected Alatus as master developer in May 2016. Alatus and its team members Inland Development Partners and Tradition Development Corporation are acknowledged leaders in multi-family as well as mixed-use, commercial, and single-family residential real estate developments.