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2023-06-21 EDA Packet
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2023-06-21 EDA Packet
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6/19/2023 5:15:00 AM
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Market Analysis for Downtown Redevelopment <br />City of Centerville Economic Development Authority <br />April 3, 2023 <br />5.1Profiled Mixed-Use Properties in the Downtown Centerville PMA <br />Year Residential Commercial Build. <br />Commercial <br />UnitsAcres <br />PropertyOpenedTypeSpaceHeight <br />Type <br />2018103Market-Rate9,761Retail52.40 <br />The Lighthouse Lofts <br />220 Lake St NRental <br />Forest Lake <br />201585Market-Rate4,000Retail41.40 <br />Boatworks Commons <br />4495 Lake Ave SRental <br />White Bear Lake <br />Park Place 200412For-Sale61,363Office/30.59 <br />25 North Lake StreetCondominiumRetail <br />Forest LakeUnits <br />Source: Interviews, Costar; Northstar MLS, LOCi Consulting LLC <br /> <br /> <br /> <br /> The Lighthouse Lofts <br />These projects can be financially difficult and <br />likely require public financing, such as Tax <br />Increment Financing (TIF). <br /> <br /> <br /> <br /> <br />Interviews <br />Parking is critical for the success of mixed-use <br />projects. <br />Sources said that these projects work because <br /> <br />they are integrated with the neighborhood and <br />linked to the lakes. <br /> <br /> <br /> <br />Page | 75 <br /> <br />
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