A new development on the former home of the Eliot School is up for consideration when the St. Louis Park City Council meets on Monday, Mar. 18.
The Eliot Park Apartments development would see two new apartement buildings—with a total of 138 units—erected on the site, located at 6800 Cedar Lake Road.
In addition to the apartment buildings, the developer is proposing building underground parking and two single-family homes. The site plan also includes a stormwater pond and small children's play area. The existing school building would be razed in the process.
Minneapolis-based Hunt Associates is overseeing the project, which is expected to be quite costly given the amount of redevelopment proposed for the site. Hunt Associates has an agreement to purchase the property for $2.075 million, with the cost of constructing the residential development on the site expected to be close to $25 million.
St. Louis Park's Economic Development Authority will also decide whether or not to move forward with potential Tax Increment Financing (TIF) assistance for Hunt Associates, to help offset what a staff report refers to as "extraordinary costs of redeveloping the site and meeting the design guidelines."
The project is estimated to add at least $16.5 million to St. Louis Park's tax base upon completion, meaning it would generate approximately $250,000 in tax increment annually. Hunt Associates has requested $1.1 million in pay-as-you-go tax increment from a newly formed redevelopment TIF district.
The Council will also be holding a first reading on an ordinance establishing the city's new Environment and Sustainability Commission, dubbed "Sustainable SLP."
As proposed, the advisory commission will consist of 13 members and will help advance city goals, policies and programs relating to both the environment and sustainablity.
As outlined in the ordinance, the commission's objectives would be as follows:
- Provide recommendations to advance city goals, policies, and programs.
- Provide advice and assistance to staff and council through collaboration.
- Provide leadership in engaging the community, encouraging relationships and partnerships with neighborhoods, special interest groups, churches, business leaders, and other commissions.
- Serve as a conduit for environmental and sustainable information, topics, and direction from residents and the public.
See the full agenda attached above as a PDF file and check back later this week to see how the Council voted on the various agenda items.