01-22-08 1B Market Study - Laserfiche WebLink

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SITE LOCATION AND ANALYSIS Access and Visibility The site is well situated in regard to interstate and highway access. I-35W is on the west ofthe site, with exits on Highway 96, and County Road I. Highway 10 also provides access to Arden Hills and the site area, crossing Highway 96, and connecting the community to Mounds View and other suburbs to the west. A common route between Arden Hills and St. Paul is via High- way 10 to 1-694 to I-35E to access the downtown area. Those commuting to Minneapolis would take I-35W south into downtown. The excellent highway network provides the TCAAP site with convenient access to jobs and shopping in the surrounding area. As is discussed in the Employment Trends and Characteristics section of this report, there are several major employers in Arden Hills and adjacent communi- ties, including Boston Scientific, Medtronic, Land 0' Lakes, Deluxe Corporation, and Celestica among others. For shopping, residents on the TCAAP site would find the Rosedale Shopping Mall a quick drive away, down Interstate I-35W or Snelling Avenue. The location of retail on the TCAAP site (at Highway 10 and County Road I) would also be very convenient to residents. In considering the subject property for access and visibility regarding the prospective uses results in the following assessment: Single-family Homes - buyers are looking for a solid neighborhood, a sense of community and healthy school district when they purchase their homes. They are less concerned about visibility, and while quick highway access is important, it is not key to purchasing. Single-family home buyers would be attracted to the parks, play areas and a walking trail system in the TCAAP de- velopment. Townhomes and Condominiums - prospective buyers of these multifamily homes generally prefer convenient access and a moderately high level of visibility, but also prefer less congestion and an environment that is more neighborhood-oriented. Purchasers are more discerning regard- ing site amenities, traffic volumes and pedestrian access. Apartments - prospective renters generally prefer excellent access, high visibility, and are less discerning regarding the neighborhood orientation of the property. Convenience is typically a top priority and renters may also be looking for amenities such as fitness centers, underground parking and in-unit laundry. This site possesses strong attributes to support the development of rental housing, including the presence of several large employers. MAXFIELD RESEARCH INC. 9