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To step back a bit here, we want to remind everyone that Launch and Aldi’s search for a development site in
<br />Arden Hills began in the middle of 2019. Before COVID, and before the death of George Floyd. Our
<br />commitment to finding the right site in Arden Hills has been paramount. As a team, we have stayed dedicated
<br />to finding the right opportunity, not just any opportunity. Generally, as Launch Properties entertains
<br />redevelopment opportunities, we look through a dual lens: what does a site want to be, and more importantly,
<br />what does the community need? The industrial site located at 3737 Lexington Avenue North is a great
<br />opportunity for a dilapidated industrial building to be ‘reborn’ by way of retail. Flanked by a Cub Foods
<br />anchored shopping center to the south, and an Arby’s to the North, industrial sandwiched in a retail corridor
<br />feels old, outdated, and claustrophobic.
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<br />When analyzing site criteria, we look for: close proximity to existing restaurants, retail, parks and
<br />entertainment, and rooftops. Although these criteria left us with few choices in this market, we were thrilled
<br />to find a site that not only checks all of the boxes, but also gives us the opportunity to greatly improve a ‘key’
<br />corner that has seen its day.
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<br />Integrated into this project will be the Lexington Avenue Road Reconstruction plan. From our perspective,
<br />our timing for this project could not be any better. Launch and Aldi would like to coordinate with the City of
<br />Arden Hills and Ramsey County such that we can tie into the newly paved sidewalks and create a walkable
<br />option for residents. Additionally, our vision of creating a well landscaped and amenitized corner will
<br />harmonize the connection between our project and the public realm.
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<br />The proposed project will be led, and anchored, by Aldi and accompanied by a two-tenant retail building
<br />located on the northeast corner of the site. Launch Properties will develop the two-tenant retail building. This
<br />outlot building has already received large interest from multiple high credit, national retailers excited to open
<br />a location serving the Arden Hills community at this intersection. A few front runners include a well-known
<br />national bakery/coffee group, two national banks, and a handful of national quick serve restaurants. For this
<br />project to be financially viable, Launch Properties will need the ability to build an outlot building of 5,300
<br />square feet or greater. This buildin g will also need a drive-thru capability, as COVID has greatly impacted
<br />the state of retail and the tenant demand for drive-thrus specifically.
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<br />From a technical standpoint, the property is currently zoned Service Business District (B-3). Currently, the
<br />property is comprised of an industrial building on two parcels, together totaling 2.50 acres. The attached
<br />concept plan for the 2.5-acre site shows a new +/- 19,480 square foot ALDI grocery store and an additional
<br />pad site with an +/- 5,300 square foot building purposed for a quick serve restaurant (~ 3,500 square feet)
<br />and bank (~1,800 square feet). The proposed development is planned for construction 2021-2022. Below are
<br />a few notes regarding updates to the overall property:
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<br />• The project will provide a much-needed facelift to a prominent corner in Arden Hills’ main retail
<br />corridor. By eliminating this industrial building, it will create a flow of retail all along the western
<br />side of Lexington.
<br />• The project will dramatically improve the Public Realm by replacing a tired industrial building with
<br />state-of-the-art retail. Particular attention will be paid to architecture, quality materials, lighting,
<br />summer / winter landscape materials and signage.
<br />• The project will provide significant landscaped green space along Lexington Avenue at grade level.
<br />There is virtually no green space currently.
<br />• The project will strengthen the connection to adjacent properties by adding sidewalks.
<br />• Storm water and runoff is currently unmanaged and the property. Contaminants on the parking lot
<br />(fuel, oil, dirt, trash) are washed off the parking lot, into the public storm sewer, and ultimately
<br />conveyed to nearest downstream water The proposed development will provide an underground
<br />stormwater management system which will manage the rates, quality, and quantity of stormwater
<br />runoff from the development.
<br />• The proposed development will have nearly a quarter-acre more landscaping than the existing site.
<br />Additionally, the existing parking and impervious setbacks from the property line will be increased
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