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<br />6. Patton Road Incubator <br /> <br />This area is considered a medical incubator space located at the western <br />border of Roseville on County Road C. The area consists of 29.4 acres <br />with a market value of $11 million. <br /> <br />Roseville Properties developed the majority of the one level <br />office/flex/laboratory buildings which has been a magnet for small <br />biomedical companies such as Larex, Diametrics Medical, Hughes <br />Institute and Interventional Innovations. Many of the companies are in <br />the development stages of their product and will need additional <br />manufacturing space when their products are approved. It is anticipated <br />that this transition will occur over the next 5 years and the area will <br />continue to attract other small biomedical companies. As these businesses <br />grow they are likely candidates to fill other redevelopment areas in the <br />community. <br /> <br />7. Tower Place <br /> <br />The area called Tower Place consists of approximately 100 acres South of <br />C between Cleveland and Fairview. The area currently has a market <br />value of $42.4 million and includes several older industrial warehouse <br />buildings. <br /> <br />In 1995, a task force was commissioned to study the area and a <br />redevelopment plan was prepared. The plan outlined recommended <br />goals and strategies relating to land use, transportation and circulation, <br />infrastructure and capital improvement, environmental issues and <br />preservation. (Appendices Book 2 - 12.7B) <br /> <br />In 1997 the first redevelopment occurred with the construction of 42,000 <br />SF of office/flex space. A tax increment district was established and <br />assistance was provided to the developer, Fairview H.A. Associates, for <br />building demolition, soil corrections and additional public improvements. <br />Due to contaminated soil, the City received a grant from the Metropolitan <br />Council Tax Base Revitalization Account to enable the redevelopment to <br />occur. The project is estimated to create 100 net jobs. <br /> <br />Further target redevelopment over the next 10 years includes <br />approximately 560,000 SF office and industrial/flex space with an <br />estimated market value of $21 million and 2,300 net jobs. <br /> <br />Roseville Comprehensive Plan-1999 Update <br /> <br />Economic & Redevelopment Plans- Page 7 of 14 <br />