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<br />space could be constructed, with an market value of $90 million and an <br />additional 8,500 net jobs. <br /> <br />3. 35W Gateway <br /> <br />The 35W Gateway area includes 53.7 acres of which 35 acres has recently <br />been redeveloped in partnership with Opus Properties. The current <br />estimated market value of the entire area equals $11.8 million. <br /> <br />Redevelopment of this area includes the addition of 180,000 SF as part of <br />Phase II and III of the Opus development. In addition, the City has <br />projected that over the next 10 years further redevelopment will occur to <br />create another 360,000 SF of industrial/ flex space similar to the Opus <br />buildings which would add 370 net new jobs. The market value of the <br />redevelopment is estimated to be $15 million when complete. <br /> <br />4. Kndustria1 Tanks Area <br /> <br />The industrial tanks area encompasses the majority of parcels west of <br />interstate 35W and currently includes light and heavy industrial <br />businesses such as large warehouse users, tank farms and trucking <br />companies. The area is comprised of 493.2 acres, with an estimated <br />market value of $84 million. <br /> <br />The redevelopment concept for the area over the next 20-30 years <br />continues to envision the area as a mix of light industrial, warehouse and <br />office users with a business park atmosphere. It is projected that by the <br />year 2020, as some of the parcels are redeveloped due to the needs of the <br />market, there could be approximately 3.6 million SF of new <br />office/warehouse and light industrial buildings with a market value of <br />$167 million and an additional 13,200 net jobs. <br /> <br />5. Gateway West <br /> <br />Gateway West is a small area located on County Road C, west of 35W. <br />The area was redeveloped by CSM Corporation and includes 14.3 acres of <br />land, 250,000 SF of buildings with a market value of $8.2 million. In 1994, <br />the sites were cleaned and old buildings were removed and renovated <br />with a masonry / glass exterior. It is estimated that the project generated <br />500 new jobs and upgraded the aesthetic appeal of the area for <br />office/warehouse users. <br /> <br />Roseville Comprehensive Plan -1999 Update <br /> <br />Economic & Redevelopment Plans - Page 6 of 14 <br />