PRECA 01-07-1981 - Laserfiche WebLink

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3) Physically integrated development. A single master developer can coordinate the .location, size, orientation, and relationship between individual buildings downtown in a way which would be very diffi-cult with several independent individual developers. Orientation of their buildings to one another, public spaces and pedestrian .connections can be done very easily. 4) Financial capabilities. A major development firm has the financial capabilities to insure implementation of the proposed projects which smaller developers would not have. 5) Development and construction management experience. A Major developer has the experience and technical skills necessary to implement a project of this complexity. Both of the organizations proposing to be exlusive master developers for the downtown are different from the majority of the development proposals received in that they are interested in developing property in New Brighton which they would not occupy themselves. They are both interested in developing propoerty which they would either sell or lease to other operations. As a result they have expressed a willingness to work with any of the other l4 organizations which made proposals. Both organizations have stated they would start expending funds for meeting with the 14 other organizations as soon as they are .named the exclusive developer. They would work to meet their development needs and accommodate them downtown by providing them space for rent, land on which they could build, or building space which they could purchase. The obvious benefits to the community from choosing a single master developer to carry out the downtown redevelopment plan and the willingness of the potential master developers to accommodate the needs of the smaller proposed developments suggest that the best course of action for the city to take would be to select a master developer for the downtown redevelopment project. The following discussions therefore, concentrate on describing and evaluating the master developer proposals. Summary of Master Developer Proposals The Kraus-Anderson and Commercial Guarantee Fund proposals are very similar in nature.. Each calls for substantial redevelopment of the downtown development district with a mixture of different land uses. In both cases a major hotel is proposed as well as substantial office space, retail space, and a restaurant. The Commercial Guarantee Fund porposal also includes a proposal for an elderly housing project of 65,000 to 75,000 square feet. Both developers have expressed eagerness in entering into a Joint Planning Agreement with the City and would anticipate beginning construction within six (6) to nine (9} months of entering into -3-