HomeMy WebLinkAbout1967 04-05 Planning Commission Meeting Minutes RegularZONING RKEYORT
April 5, 1967
7-66-11 R. E. Moore. Planned Industrial District to Cozamercial District PC -2.
terch-
Ediva inange enter.
The property is situated along Lhe west side of T.H. 100 between
rz-,bers and the south Village boundar7j. lit Inas v-11 area of 8.40 acres.
PropertieG aoutlh and northeast are zoned ecomercially, those to the west
Ka Y
,ul northwest are zone for in--'ustl- or offices.
The proposed Radiss*u Inn- project was explained in some detail in the
Aviguat 3, 1960 Staff 'Memo and at the ConaliSSioll meeL-Lng on that same
date (see Minutes). The then sugSested plan for an alteration in site plan
or municipal boundarieo has not ben possible to achieve because of
Woo,mingtIM s unwilliagness to seriously attempt to arrive at a mutually
agrecable solution to UW!sa -.problems. The project's fate seerns to rest on
the question of whather or not the Village of Edina deeims it appropriate
to ,ztablish surface parking as a legial land uson most of the 8.40 acres
of industrial ILFnd.
In addition to the hotel -motel anel coinication facilities which are
proposed to be located J. -n Bloomiagton, the project includes a comrercial
building of approxi-mau!iy 20,000 square, feet, CoD.Laining a bank and retail
shops which would be locatk--d in Edina. Mis struCture and its related
parking would enccmpass about 2.63 of the proposed 8.40 acres of commercial
xc-ning. The remaining 5.77 acrez�,, &re totally devoted to supplying parking
necessitated by the hotel--aote! aad convention facility.
Strictly from a land use point of view, there. would not seem to be
anything inappropriate about the proposal. Commercial uses such as those
proposed nad parking lots would not be out of pace in an area boundad by
established commercial, uzes and industrial sites.
Oas of the st-ated objectives of the Planned Industrial District was
"to enable the District to make its fair and continuing contribution to the
general welfare of the Village of Edina and its neighboring comunities".
This is as close as the Ordinance couies to Ute Village planning policy
objectiva of an improved tax base balance. A, "tax abase" consideration of
the proposal seems appropriate nevertheless.
fui analysis of the attached ';Pruperty Value Study" indicates that the
tamable value of propqrty developed for industrial uae Senerally ranges
from. X4.00 to 46.00 per aqpuara foot of site are_Z. The corresponding range
for office, development 8,�arlas to be 5.00 to $9.00. C"o7rimercial development
varies widely depeadf.-nZ, on the e:c,-act type of businass involved, but "service"
type uses such as restaurants and gas stations seem to produce relative
law values (about 0). It should be observed that P.11 of these values
include personal. przperzty as uell cs real estate. If the State Legislature
were to remuve the mon personal property, the -2 taxable value of these I.md
u2es uould be radilced.
Zoning Report
2-66-11
Page -2-
April 5, 1967
Assuming that it is the Village's desire to "break even" rather than
"gain" in the taxable value of the: 5.77 acres ,proposed to be used for
parking, it would be necessary for the taxable value of the developed
parking lots to be frcm $4.00 to $6.00 per square foot of lard. It does
not seem likely that this would occur very ;goon, if ever. Currently, it
would be difficult to substantiate values in excess of $2.00 to $3.00.
There is some indication that the establishment of the Radisson inn
in the forty proposed would have a, positive effect on all surrounding land
values and that it would foster a more rapid and higher quality development
within the surrounding area. This is of some considerable' importance to
Edina since there is a great amount of non-residential land yet to be
developed in south Edina.
There is also, of course, the possibility that some of the 5.77 acres
proposed to be devoted to surface parking would be converted to office
or commercial apace by ramping parking. It is difficult to say when and
in what form this would occur, although gh ire the long run such redevelopment:
seems inevitable.
Recommendation: Rezone the 8.44 acres to the Planned Commercial
District C-2. This re;.oning should be contingent upon the actual
completion of the proposed. project. Preliminary site plans should be
reviewed with regard to access., parking lot design and in an attempt to
secure a greater amount of structure within Edina. The overall and long
terse advantages of Lhis project seem to outweigh the infiediate tax dis-
advantage. The Radissea Inn development seeme to be in the best interest
of the: entire community.
gch
PersonaI
ilerCent
Re -a-1. Estate
Prop. Value
Personal
Total Value
Pal ; : Per Sq.
Per Sq. Ft.
is of
Per Sq. Ft.
BUILDING
TYPE
Ft. of Lot
of Lot
Real Value
Of Lot
Dupont
Off ice
tI
Warehouse �
. 305
� .Y
� $�,.
r
$1.24
� ?7 b
'
$4.80
Spartan
! Industrial �
...41
$0.57
49%
$2.08
K 1.,'. ' Ce U.S.
(53.12 W. 78)
1 I-idustrial 1
.`8J-4
� :2>26 �
$0.57
i 25% {
$2.83
Ceyieral Motors
Off icr;6
i :Y a.. 'L:.efji?x`.'32: j
.245
{ ,1.4. 7
$2. 13
77Z
$4.88
West -on 6F'�'iY1Q'.:�ng
� l.1���835i.�':£.n!
.2410
� :j,.49
�3mll
i k��l
y
$5.60
Edina Plaza
(510: Edina
'alit . t31vd.Offjcc
$5.i9 : �
${�. 3i�v'
5%�
$6. 26
Dunn u Curry
�
(4 320 W. 77)
0ffice
.37A
� $.6?.
$0> `a5
� is%
$4.16
Pentagon Park
I
(Tower + 4
adj. Uldgs.)
Office
.422
� $7.39
6%
57.8€3
f
�
Modern Medicine
0fli ic,2 �
. v
$8.5 6 �
r0.87
� 0w�
$9.43
�
C'1'cL' l.01''or Ftr.
z' "..2
.26-
t "16..s C) [
u,O.77
I 12% �
$ .07
1
�
f
United Ixkill.li."x g
; I Gliue,f-:
F
� f�.�.n�5i� �
$� .�J
��l
$�.�i
i
Cornelia Bldg.
i Of+'iea
,�, .1
� `f6. :< �
$2.22
34%
$8.74
17C. Wit.(
S Lor:}
:0.
x;2.93
$0.90 z
317
$3.83
ctr,=r"a R
t
Q..:,{`til,
; : ` .75 i
s �
z-,2.78 ;
48,
$8.,;3
sShCC yy��
u eldt
i "u,tG
f
Store
0 2,211
� ;53.9:
$5.^,.37 �
9
$4.30
Gas
(Y'.Pking Lr.
I 9e,ution i!!
'f.°x2:4:5
':d_. 50 #
t0.09
S2•59
!�
1
Em ,: sro
KC-5,UZU. t
i
iTit
ted lY°t
SS:t 5T3
k0i.i.'1.5
f„2..3 f
y�+.sow0
16%
$2.77
Ratio of building
f 1.0o 'M -'a
to `.W:
-r I
bides' ,.d�.ngs !'�'l"��.
r`Ss "',�. 634.:V:'e?�7 i.':d
7B�U-1.
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