Planning Commission Agenda and Packet 2014 07 10

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Louisville Mill Site Redevelopment Project - Preliminary PUD and Plat - Submittal Dated 04,'03 14 LOUISVILLE MILL SITE REDEVELOPMENT PROJECT DESCRIPTION Background Multiple attempts have been made over the years to craft a plan to save the grain elevator from demolition, and to provide a viable re -use of the historic structure and property, as proposed by private groups, and by the City of Louisville. With the City's purchase of the property, the potential for demolition by the property owner had been eliminated. A proposal in response to the City's RFP by an Arvada developer would have resulted in the development of the Grain Elevator property independent of the Caranci property to the south, on which part of the elevator structure is encroaching. After hearing concerns regarding the cost to the Historic Preservation Fund for the Arvada developer's proposal, and realizing the difficulty in developing these two properties independently, we decided to offer the City a different approach. The applicants to this proposed PUD and Plat formed this partnership to be able to propose an altemative that would combine the Grain Elevator and Caranci properties to be able to create a cohesive, unified, well planned development, which would not be possible without combining these properties. The approach to the adaptive re -use of the Grain Elevator has been scaled back to save historic preservation funds, only requiring the minimum public investment to mitigate hazards within the building, and to structurally stabilize and weatherize the building to maintain and protect it. The renovations beyond this initial investment of historic preservation funding will be provided by Louisville Mill Site LLC to the extent that such renovations are economically viable. The redevelopment of the new building on Lot 3 and the expansion on Lot 1 for the Caranci building can move forward based on more standard metrics for commercial development. Louis\ illy il Site And Historic Grain Lk. atm. General Project Description The Louisville Mill Site Redevelopment project will combine two adjacent properties, and subdivide the combined land area into 3 building lots and one outlot for common use. The northern property currently contains the historic Louisville Grain Elevator building which will be landmarked and rehabilitated for commercial use with minor additions, and also a 3,360sf commercial building, and small shed which will be both be removed. The southern property currently contains a commercial structure, formerly used as a warehouse, now home to a fitness- related business. An addition is planned for this building. The proposed use for all buildings on the property is commercial, with retail, restaurant/bar, and similar allowable uses on the ground level, with offices anticipated on upper levels. There is a potential for some public or private museum space in the grain elevator structure. The subdivision is within the Downtown overlay district, zoned CB, and the anticipated development is intended to follow these regulations, with some minor variances requested, as further described in this submittal. The overall Subdivision Plat area and individual lot areas are enumerated in the following table. Page 2 of 7