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ARDEN HILLS CITY COUNCIL WORK SESSION-June 12, 2007 3 Councilmember McClung said that he wants to review the information and think about it some more. Councilmember Grant stated that he has heard RRLD characterized as "land developers" vs. future builders. Mr. Collins responded that Ryan Companies is a construction development company. They are not typically land developers unless they are part of a mixed-use project. He stated that with regards to TCAAP, Ryan would likely build corporate office, hotel, and office showroom. They would likely sell some of the property for residential. Councilmember Grant recalled that Collin Barr (Ryan Companies) had previously indicated that Ryan would get another residential partner. He asked what the current plan is. Mr. Collins responded that they think the residential numbers they are talking about be more than one housing developer would build, plus there would be some specialties for certain types of housing. To provide a wide spectrum of housing, they would have to look at many residential developers. At this time they don't expect to take on a residential partner. Councilmember Grant asked if you use multiple developers, could you build housing faster. Mr. Collins stated not faster than the market, but that with a variety of builders, you can build a variety of product at the same time. Mr. Collins noted that he expects, before closing, that they may bring on a capital partner, but in order to do that, they need a concept plan and financial pro forma. Councilmember Grant asked ifRRLD will sell the land to Ryan or ifRRLD will be the development entity. Mr. Collins responded that Ryan will always be backing RRLD. Mayor Harpstead asked for discussion regarding "big box" development. He stated he has a bias against big boxes. Councilmember Holmes said she has no bias against big box. Councilmember Grant stated he has a little bit of bias against, and he prefers medium box development, but he wants to hear proposals. He noted that he thinks of Best Buy as a medium box. Mr. Collins stated that they really need a mixture. Big box brings in the traffic to support the medium box. Mayor Harpstead said he could envision a Target, Best Buy, and a grocery store. Ms. McJilton indicated that Roseville is over capacity, so there is interest in this market. There is more demand then capacity. Demographics are a significant factor. Retailers know where they want to be. Mr. Collins stated that a retailer like Target would be very concerned' about County Road H and would not sign on until construction is underway to improve access to the site. Councilmember Grant indicated that Target provides a wide range of products, and so he thinks it makes sense. He stated that he doesn't know that he could see two big boxes. Mr. Collins said that they are preliminarily considering Target and a home improvement store. Councilmember McClung said that he thinks we have the demographics to support interesting stores. Mr. Collins noted that Edina is about the only place that can really support high, high end retailers. Councilmember Homes stated that she has a prejudice against anything above retail; she doesn't want to see that in the development. Mr. Collins said if anything they would want to use it sparingly, since it is very difficult to lease. Councilmember McClung stated that there is a need to have discussions like this more often. Mr. Collins indicated Ryan's interest and willingness. Councilmember Grant noted that the plan will change over time.