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<br />November 1, 2000 1 :30 pm <br />Developers' Comments <br /> <br />Market Opportunity of Twin Lakes: <br />. Good Traffic Corridor both North and East <br />. Great location - need more available space for development <br />. Can draw from entire metropolitan area <br />. May see more agencies/professional services that serve both <br />downtowns. <br /> <br />General: <br />. Is a hospital or clinic real financially? What are the next steps? How <br />much land? <br />· How will City help to make these sites affordable for redevelopment? <br />. Timing? What is Ryan's "preferred developer" role? When does it <br />end? <br /> <br />Land Use <br />. Don't put "all your eggs in the office basket"; office market is <br />tightening due to substantial new construction in both downtown <br />areas; the projected Floor Area Ratio - .4 and need for ramp parking <br />will make office too expensive for this market near term <br />· Consider high-tech flex/office flexibility for most of the area with a <br />preference for office west ofFairview and high tech flex east of <br />Fairview. <br />. Office -if large multi-story for lease- will have to compete <br />(unfavorably) with downtowns, especially Minneapolis <br />. Ramp are cost prohibitive. Parking ramps cost an estimated <br />$35.00/sf., adding significantly to the front-end costs of new offices <br />with ramps, but also reducing the amount of land coverage, allowing <br />more green space and ponding on site. <br />. Office, hi-tech, hi-flex are good solutions for Twin Lakes because <br />they are flexible and adapt to new users, and provide lower cost <br />surface parking. <br />. Manufacturing uses do provide high paying jobs and do not always <br />require outside storage. This should be included in the mix with <br />design standards. <br /> <br />3 <br />