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<br />Draft 11/13/98 <br /> <br />office/warehouse and light industrial buildings with a value of $167 million, <br />generating 13,200 new jobs. <br /> <br />5. Gateway West <br /> <br />Gateway West is a small area located on County Road C, west of 35W. The area <br />was redeveloped by CSM Corporation and includes 14.3 acres ofland, 250,000 SF <br />of buildings with a market value of$8.2 million. In 1994, the sites were cleaned <br />and old buildings were removed and renovated with a masonry/glass exterior. <br />It is estimated that the project generated 500 new jobs and upgraded the <br />aesthetic appeal of the area for office/warehouse users. <br /> <br />6. Patton Road Incubator <br /> <br />This area is considered a medical incubator space located at the western border <br />of Roseville on County Road C. The area consists of 29.4 acres generating $11 <br />million in market value. <br /> <br />Roseville Properties developed the majority of the one level <br />office/flex/laboratory buildings which has been a magnet for small biomedical <br />companies such as Larex, Diametrics Medical, Hughes Institute and <br />Interventional Innovations. Many of the companies are in the development <br />stages of their product and will need additional manufacturing space when their <br />products are approved. It is anticipated that this transition will occur over the <br />next 5 years and the area will continue to attract other small biomedical <br />companies. As these businesses grow they are likely candidates to fill other <br />redevelopment areas in the community. <br /> <br />7. Tower Place <br /> <br />The area called Tower Place consists of approximately 100 acres South of C <br />between Cleveland and Fairview. The area currently generates an estimated <br />$42.4 million in market value and includes several older industrial warehouse <br />buildings. <br /> <br />In 1995, a task force was commissioned to study the area and a redevelopment <br />plan was prepared. The plan outlined recommended goals and strategies <br />relating to land use, transportation and circulation, infrastructure and capital <br />improvement, environmental issues and preservation. (Appendices Book 2 - <br />12.7B) <br /> <br />In 1997 the first redevelopment occurred with the construction of 42,000 SF of <br />office/flex space. A tax increment district was established and assistance was <br />provided to the developer, Fairview H.A. Associates, for building demolition, soil <br />corrections and additional public improvements. Due to contaminated soil, the <br />City received a grant from the Metropolitan Council Tax Base Revitalization <br /> <br />6 <br />