Revitalization Commission Minutes 2008 10 13 SP Joint Meeting City Council

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City Council Special Meeting Minutes October 13, 2008 Page 4 of 7 and no homes to the south of the site. The development issues are as follows: the site appears to be small and retail is likely to be small neighborhood services such as banks and convenience retailers. Council and Commission discussion and questions centered on the disadvantage of a small site, which may be isolated, but it was noted there are merits of small neighborhood retail. SOUTHWEST CORNER OF HWY. 42 AND SOUTH BOULDER ROAD The Southwest Corner of Hwy. 42 and South Boulder Road is 12.41 acres and contains 540,409 SF. The owners are as follows: Eastpark -Bill Arnold; Gordon Fordyce; Hmhw -Douglas Harper; Coal Creek Station -Bill Arnold and Prominent Holdings, LLC. The tenants are Union Jack, Louisville Cyclery, Car Service/Repair, Truck Rental shop and small retail. The property attributes include the current zoning allows retail; the location is the corner of Hwy 42 and South Boulder Road; high income residential area; high traffic counts; and open land with few buildings. The property challenges include the following: limited access of South Boulder Road due to rail line and signal at Hwy 42; limited access to/through neighborhoods south of the site and current zoning; design standards may limit development intensity/density; single-sided retail-sites faces open space; zoning varies from parcel to parcel; multiple property ownerships with various development objectives and skills; long term leases and viable businesses with existing tenants. The development issues include the potential for mixed-use with office, residential, and retail if properly designed; redevelopment at any scale would require property assembly; property owners should collaborate on a development strategy for the area; low intensity/density hinders redevelopment funding sources; and developers may request funds by the City dedicated to relocation of existing businesses within or outside the site. Council and Commission discussion and questions centered on the restrictions of the property; assembly of the properties; the desires of the property owners; limited access and traffic issues. NORTHWEST CORNER OF HWY. 42 AND SOUTH STREET The Northwest Corner of Hwy 42 and South Street is parcel of 21.36 acres or 930,290 SF. The owners are Tebo, Golden Concrete; Comcast; Pdi, Baker, Gallawa, Boom and Ladley. The anchor tenants are a lumber yard, Louisville