HomeMy WebLinkAbout6C Summit Preserve
4646 Dakota Street SE
Prior Lake, MN 55372
PLANNING COMMISSION AGENDA REPORT
MEETING DATE: NOVEMBER 16, 2015
AGENDA #: 6C
PREPARED BY: DAN ROGNESS, COMMUNITY & ECON. DEVEOPMENT DIRECTOR
PRESENTED BY: DAN ROGNESS
AGENDA ITEM:
CONCEPT PLAN DISCUSSION – AMENDING THE SUMMIT PRE-
SERVE SUB-AREA D OF THE PLANNED USE DISTRICT IN THE
2030 COMPREHENSIVE PLAN TO INCLUDE 100% MEDIUM DEN-
SITY RESIDENTIAL
DISCUSSION: Introduction
The purpose of this agenda item is to review a conceptual change to the
Summit Preserve Planned Use District (Sub-Area D) that would replace
the existing guidelines of 25% Commercial / 75% Medium Density Resi-
dential with 100% Medium Density Residential.
History
The Planning Commission and City Council both reviewed and approved
a major 2030 Comprehensive Plan amendment in 2013/2014 along the
County Highway 42 corridor. Much vacant land was amended to a new
land use classification called “Planned Use”. This designation was fur-
ther subdivided into Sub-Areas A – E; each sub-area having separately
designated land uses as percentages of the total acreages. This change
would allow more flexibility by developers to decide where those land
uses would best be located within each sub-area.
Current Circumstances
Sub-Area D, also known as Summit Preserve, has a Planned Use des-
ignation as follows:
• 49 gross acres
• 34 net acres (70% of gross)
• 75% Medium Density Residential
• 25% Commercial
• Residential Density – minimum of 4.1 units per net acre (105
housing units)
The current owner of the 49-acre Summit Preserve area would like to get
input on amending the Comprehensive Plan to allow 100% Medium Res-
idential land use. A combination of townhomes, twin-homes and villas
are likely to be proposed within a PUD.
Conclusion
City staff will provide more information at the meeting.
2
ISSUES: What support is there to remove approximately 8 acres of commercial
development from the northeast corner of Highways 18 and 42? In ad-
dition to market information provided by the property owner (Attachments
3 and 4), staff will help the Commissioners evaluate that question. Staff
may get EDA input as well since this relates to economic development.
MOTIONS:
Discussion Only
RECOMMENDED
MOTION:
Discussion Only
ATTACHMENTS: 1. 2030 Comprehensive Plan – Land Use map amendment
2. 2030 Comprehensive Plan – Planned Use text amendment
3. Market information from site broker, CBRE
4. Market information from Maxfield Research
Approved 2030 Comprehensive Land Use Plan Map Amendment (Figure 3.2)
Prior Lake, Minnesota
Approved by the Prior Lake City Council on October 28, 2013
Approved by the Metropolitan Council on March 26, 2014
Brian L. Pankratz CBRE, Inc.
Vice President 4400 West 78th Street
Minneapolis, MN 55435
CBRE, Inc. 952 924 4665 Tel
Land Specialty 952 831 8023 Fax
brian.pankratz@cbre.com
www.cbre.com
November 13, 2015
Cardinal Development
c/o Bill Feldman
20265 Vernon Ave
Prior Lake, MN 55372
Dear Bill
As the Listing Agent for Summit Preserve for 18 months we have seen little demand from commercial users
or developers for new development. In marketing we have reached out to retail developers and brokers
representing the expanding concepts in the Twin Cities with little interest due to a number of reasons as we
have discussed. Those reasons include the following:
1. Strong retail nodes in Shakopee and at CR 42/Hwy 13 with established anchors in place
2. Access to the hard corner of CR 42 and CR 18 has great visibility but limited or no access.
3. competing sites along CR 42 that are vacant and even have offsite improvements completed
4. Limited future residential growth in the area pushing increased demographics
Retailers are looking for high density counts, good access, and strong traffic counts. The demand we have
seen from commercial groups is potential once the residential has been built. By increasing the density or
converting all to residential could help the other undeveloped parcels be developed or bring in new
commercial users.
Should you have any questions, please contact me at (952) 924-4665.
With best regards,
CBRE, Inc.
Brian Pankratz
COMMERCIAL REAL ESTATE SERVICES