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2004_0920_Packet
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2004_0920_Packet
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Why Redevelop <br />. Ciiy infrastructure <br />.Allows more efficient� of utilitiesand streets <br />■ Reduces impacton trafficand environment <br />■ Providesimpetusfor construction or replacementof <br />public improvements <br />■ Providesfor green spaoe and parMands <br />Twin Lakes Proposal <br />■ Twin Lakes Currently <br />.175 Opportunity Areas <br />■ TruckTerminals & Old IndustrialBuildings <br />. No Planned Land Development <br />■ Inadequatewater ponding and drainage systems <br />■ Polluted Lands— soil and ground water <br />.Phase 180 A.aes — MarketValue 2004 =$28 mill <br />Why Redevelop <br />■ Overcome barriersto private redevelopment <br />.Brownfields — on-site coritamination <br />■ Asbestos <br />.Obsolete slz�t layout <br />.Outdatedand inappropriatezoning <br />. Blighted, abandoned or nuisance properties <br />■ Fragmer�ted property ownership <br />Twin Lakes Proposal <br />■ Twin Lakes Proposal for Phase 1 <br />■ 80 Acres <br />■ 730 housing units <br />■ Senior Condo 240 units <br />. iofts zao unfis <br />■ Urban TH 142 u�c <br />■ Gable RowTH 108 unik <br />■ 221,150 sq. R. office <br />■ 331,5b3 sq. ft. comrnercial/retail <br />■ New MarketValue 2003 = $212 mill <br />.Developerprovides upfrontacquisitionand <br />developmerit costs <br />2 <br />
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