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<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 <br />35W on Cleveland at County Road D. The area currently has an estimated <br />market value of $19.8 million. <br /> <br />This high quality business park began its redevelopment in 1985 with a <br />concept for over 650,000 SF of new business space. Less than 120,000 SF <br />was constructed from 1987 through 1997. In 1997, Ryan Companies <br />bought out the previous developer and immediately began construction of <br />5 buildings with a total of 154,000 SF. <br /> <br />The City estimates that the remaining four parcels will be developed over <br />the next 3-5 years and could include up to 378,500 SF of office/retail space <br />with an estimated market value of $23 million and the addition of 1,500 <br />new jobs. <br /> <br />2. Twin Lakes Redevelopment Plan - (Appendices Book 2 -12.7 A) <br /> <br />The Twin Lakes area is located on County Road C between Cleveland, just <br />east of Fairview and is a total of 188.4 acres. This area currently has a total <br />market value of $59.2 million. <br /> <br />A market driven redevelopment plan was completed in 1988 that included <br />110 acres of land. The first new building, the Twin Lakes Medical office <br />building, was constructed in 1994 on the site of trucking terminals, <br />construction storage areas and the old Mack Hotel. Since 1994, Ryan <br />Construction has built four office/ flex buildings totaling more than <br />320,000 SF of space. Contamination clean-up in this area totaled more <br />than $4 million and includes the establishment of a tax increment district, <br />a subdistrict and a Metropolitan Council Tax Base Revitalization Grant. <br />Over 900 jobs are now located in these high tech/ flex buildings. <br /> <br />The redevelopment of the remaining parcels in the Twin Lake Business <br />Park is a high priority for the City over the next 10-15 years with a <br />majority of the redevelopment in 5 years occurring near the planned <br />construction of Twin Lakes Parkway scheduled to begin in 2001. It is <br />estimated that a total of 2.3 million SF of office, high-tech/ flex and retail <br /> <br />\ <br />/ <br /> <br />Roseville Comprehensive Plan-1999 Update <br /> <br />Economic & Redevelopment Plans - Page 5 of 14 <br />