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Home My WebLink About2015-02-10 PACKET 05.A.02. Solicitation of Market Interest Housing Opportunities Cottage Grove, MN February, 2015 SOLICITATION INFORMATION Purpose: The City of Cottage Gove, MN ITY is seeking developers and/or development teams to submit letters of interest for the acquisition and development of projects that will provide a diversity of residential housing opportunities within the City of Cottage Grove, MN. The City Council has identified this project as one of its top initiatives for 2015-2016. Issuing Agency: Founded in 1843, the City of Cottage Grove has a long history of promoting residential growth within the community. A component of the support for residential growth has been the creation of a high quality/amenity public utility and roadway infrastructure system. With beautiful rolling hills, a wide range of housing options, two golf courses, 30 parks, over 45 miles of trails, and a culture of neighbors helping neighbors, Cottage Grove offers its residents far more than the average Twin Cities suburb. The development sites identified in this solicitation are located within the Metropolitan Urban Service Area (MUSA) and the majority have public utilities available at the site. ͳ Development Location: The CITY has identified several candidate sites within the current development staging area of the community that are guided for residential growth with a variety of medium and high densities available. Properties surrounding the sites are actively developing, and a successful project can add to the synergy of this growth. Several of the sites require redevelopment, and others are raw land prime for development. The map below identifies the sites. Additional information on the sites can be found in the Appendix or at http://www.cottage-grove.org/planning- division/. Goal of the Solicitation: The goal of the solicitation is to engage Developers who understand the area housing market and will further progress the City Councils desire to provide a variety of housing opportunities within the community in which to live, work, and play. The CITY anticipates that successful developments will be consistent with the accomplishment of one or more of the following goals: Increase home ownership and/or rental opportunities. Increase housing opportunities for an aging population. Provide housing styles or segments that are currently limited within the community. Provide for diversity in affordable housing opportunities. ʹ Objectives: The CITY is seeking developers that can provide the following lifecycle housing products within the community: 1. Market rate independent living and assisted senior housing. 2. Below market rate independent living and assisted senior housing. 3. Market rate multifamily attached housing and apartments. 4. Below market rate detached or attached housing and apartments available to families with moderate incomes. Funding and Financial Resources: The CITY is anticipating that proposed projects will be privately financed. On certain sites, the CITY would consider a development partnership role. The CITY could fast track the entitlement process and act as a community liaison. The Washington County HRA has a variety of housing programs available for qualifying projects. http://www.wchra.com/pages/why-washington- county. Development Incentive: The development benefits offered by the CITY towards the creation of a successful development project could include: Expedited zoning process. Density bonuses. Financed development fees and charges. Phased utility infrastructure costs. Park development partnerships. Community Information Cottage Households GrovePopulation Employment Year 2010 2020 2030 2040 2010 2020 2030 2040 Estimate 34,589 37,500 43,200 49,300 11,719 13,700 16,200 18,600 Demographic Forecasts: Existing Demographics: A summary of some existing housing and demographic indicators appears below. Senior Population By 2040, the Metropolitan Council estimates that the population in Cottage Grove that is age 65 or greater will be at 21 percent of the population. This is a 13 percent increase from 2010 Census information. ͵ Income Information The median household income in Cottage Grove is $81,622. Age Information The median age in Cottage Grove as of 2014 was 35. Homeownership The Minnesota Compass website reports that Cottage Groves homeownership rate is sixth in the region at 84 percent. Demographic Highlights U.S. Census Bureau Quick Facts Cottage Grove Quick Facts Cottage Grove Minnesota Population, 2013 estimate 35,399 5,420,380 Population, 2010 (April 1) estimates base 34,589 5,303,925 Population, percent change, April 1, 2010 to July 1, 2013 2.3% 2.2% Population, 2010 34,589 5,303,925 Persons under 5 years, percent, 2010 7.3% 6.7% Persons under 18 years, percent, 2010 29.0% 24.2% Persons 65 years and over, percent, 2010 8.3% 12.9% Female persons, percent, 2010 50.1% 50.4% High school graduate or higher, percent of persons age 25+, 2009-2013 95.6% 92.1% Bachelor's degree or higher, percent of persons age 25+, 2009-2013 31.0% 32.6% Veterans, 2009-2013 2,636 366,990 Housing units, 2010 12,102 2,347,201 Homeownership rate, 2009-2013 88.5% 72.5% Housing units in multi-unit structures, percent, 2009-2013 8.6% 21.6% Median value of owner-occupied housing units, 2009-2013 $208,300 $187,900 Households, 2009-2013 11,799 2,107,232 Persons per household, 2009-2013 2.95 2.47 Per capita money income in past 12 months (2013 dollars), 2009-2013 $30,616 $30,913 Median household income, 2009-2013 $81,622 $59,836 Persons below poverty level, percent, 2009-2013 6.1% 11.5% Who May Respond: Any individual or company with credible development experience may respond. Respondents will be asked to demonstrate that they have the development history and financial capacity to implement their proposal. Response to Solicitation: Interested Developers are asked to submit a letter stating your interest in developing in Cottage Grove, your understanding of the goals for this solicitation, your approach to meeting those Ͷ goals, and a summary of the parcels of interest and generalized development style. Discuss your experience in developing housing related to this solicitation. Interested parties may respond with proposals for individual or multiple properties. Response Due Dates: Letters of interest will be accepted by the CITY until April 30, 2015, and should be sent to City of Cottage Grove, 12800 Ravine Parkway South, Cottage Grove, MN 55016 or to Planning@cottage-grove.org. The CITY may decide to extend the submission deadline, or to accept submissions on a rolling basis. Response from City: Response from the CITY to interested parties will be to evaluate the specific development suggestions for each site with all qualified proposers. Additionally, the CITY will review Developers project experience and financial capacity to complete planned activities. The CITY may choose to work with one or more Developers. The and City Council will be involved in the development review process. Site Tour: To schedule a tour of the sites, contact John M. Burbank, AICP, Senior Planner, at 651-458- 2825 or jburbank@cottage-grove.org. Inquiries: Inquiries concerning this solicitation should be directed to Ryan Schroeder, City Administrator, at 651-458-2822 or rschroeder@cottage-grove.org. Utilities: Inquiries concerning public utility status adjacent to identified sites should be directed to Jennifer Levitt, City Engineer, at 651-458-2890 or jlevitt@cottage-grove.org. Housing & Redevelopment Authority (HRA): For inquiries concerning available housing programs, contact Barbara Dacy, Executive Director, Washington County Housing and Redevelopment Authority, at 651-458-0936 or bdacy@wchra.com. The CITY reserves the right to reject any and all proposals received in response to this solicitation. ͷ Appendix ͸ Property Maps Site A Site PIN Acres Site Reference Site Representation A 0302721410001 38 B&K Group No Broker 0302721410005 0302721410006 Owner Representative: 0302721410007 Pat Kotnour 0302721410008 651-438-3695 0302721440004 ͹ Property Maps Site B Site PIN Acres Site Reference Site Representation B 1402721230003 61 Tank Family North No Broker Owner Representative: Myron Tank 651-459-0759 ͺ Property Maps Site C Site PIN Acres Site Reference Site Representation C 1102721240001 40 Tank Family South No Broker Owner Representative: Myron Tank 651-459-0759 ͻ Property Maps Site D Site PIN Acres Site Reference Site Representation D 2202721110001 20 90th Street and Keats City of Cottage Grove Avenue Ryan Schroeder 651-458-2822 ͳͲ Property Maps Site E Site PIN Acres Site Reference Site Representation E 2202721420001 20 Apache Chief Theatre Owner Representative: 2202721310008 Jerry Herringer 2202721430004 763-571-8177 ͳͳ Property Maps Site F Site PIN Acres Site Reference Site Representation F 2102721410012 6 Majestic Site CBRE 2102721410013 9165 Point Douglas LLC Mike Marinovich 2102721410014 612-336-4313 2102721410015 2102721410016 ͳʹ Property Maps Site G Site PIN Acres Site Reference Site Representation G 2102721140003 3.5 Langdon Village City of Cottage Grove 2102721140004 Ryan Schroeder 2102721410032 651-458-2822 2102721410033 2102721410034 ͳ͵ Property Maps Site H Site PIN Acres Site Reference Site Representation H 1702721210045 10 Home Depot USA City of Cottage Grove Ryan Schroeder 651-458-2822 ͳͶ Property Maps Site I Site PIN Acres Site Reference Site Representation I 0802721330043 2 Gibson Site Anchor Bank David Bruce 952-525-1000 ͳͷ Property Maps Site J Site PIN Acres Site Reference Site Representation J 0702721440025 2 Southpoint Ridge Jon Rausch 952-893-8251 Cushman & Wakefield ͳ͸