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<br />Draft 11/13/98 <br /> <br />e Continually develop and refine rede'Velopment plans for each section of the <br />community. The current redevelopment projections assume that the market can <br />absorb the additional building space and that there is an adequate supply of <br />available employees to fill the new jobs. Additional research will be conducted in 5- <br />year increments to address transportation and infrastructure impacts as a result of <br />the redevelopment. In addition, the I-35W Corridor Coalition Transportation Study <br />will be used to project transportation for the entire corridor. <br /> <br />GI The current market value figures are from Ramsey County for payable 1998 taxes <br />and the estimated market values are calculated on a square foot basis under the <br />following assumptions. <br />Retail <br />Land - $5 <br />Building - $75 <br />Office <br />Land - $3.75 <br />Building - $50 <br />Industrial <br />Land - $2 <br />Industrial - $35 <br /> <br />.. The following is a summary of each redevelopment area in Roseville. <br /> <br />Summary of Concept Redevelopment Areas <br /> <br />1. Centre Pointe <br /> <br />The Centre Pointe area includes a total of 65.9 acres immediately east of 35W on <br />Cleveland at County Road D. The area currently generates an estimated market <br />value of $19.8 million. <br /> <br />This high quality business park began its redevelopment in 1985 with a concept <br />for over 650,000 SF of new business space. Less than 120,000 SF was <br />constr.Jlcted from 1987 through 1997. In 1997, Ryan Companies bought out the <br />previous developer and immediately began construction of 5 buildings. <br /> <br />The City estimates that the remaining parcels will be developed over the next 3- <br />5 years and could include up to 650,000 SF of office/retail space generating $25 <br />million in market value and 3,400 new jobs. <br /> <br />4 <br />