Laserfiche WebLink
SUBJECT: APPLICATION FOR ASSISTANCE: CORVUS NIDUS LLC, THE ROSE <br />& RAVEN AT 511 EAST SOUTH BOULDER ROAD <br />DATE: DECEMBER 9, 2020 PAGE 5 OF 6 <br />The Highway 42 Urban Renewal Plan also includes Development and Design <br />Objectives as follows: <br />The development objectives for the Urban Renewal Area include establishment <br />of a variety of uses that will allow projects to respond to changing market <br />conditions. Proposed land uses within the Urban Renewal Area include <br />commercial, office, residential, commuter, public, and parking. Design objectives <br />for the Urban Renewal Area also promote flexibility, adaptability to a range of <br />uses and product types and consistency with prevailing market conditions. Other <br />objectives include: <br />a) Eliminate and prevent blight <br />b) Improve relationship between this area and surrounding areas <br />(neighborhoods, downtown, open space) <br />c) Increase property values <br />d) Provide uses supportive of and complementary to planned improvements <br />(transit) <br />e) Encourage a mix of uses and/or mixed -use projects <br />f) Promote a variety of products to address multiple income segments <br />g) Provide ease of vehicular and pedestrian circulation and improve <br />connections <br />h) Encourage continued presence of businesses consistent with the plan <br />vision <br />i) Provide a range of financing mechanisms for private property re- <br />investment and investment <br />j) Mitigate impacts from future transportation improvements <br />k) Encourage public -private partnerships to implement the plan <br />I) Adjust parking ratios to reflect future densities <br />m) Encourage shared parking among projects in area <br />n) Develop higher design standards including flexible lighting and signage <br />standards <br />o) Landscape streetscapes to unify uses and plan components <br />The proposed land use at 511 E. South Boulder is commercial, but integrates a variety <br />of concepts that will likely make the business adaptive to changing consumer <br />preferences and market conditions. From staff's review, the proposed project meets <br />many Objectives, as outlined below: <br />• Addresses four blight factors that have developed on the property; <br />• Seeks to enhance the relationship between this property and the adjacent Village <br />Square Shopping Center as well as nearby residential areas; <br />• Raises future property values well above current level and will generate new <br />sales tax revenue for the City; <br />• Encourages a mix of uses on the subject property as well as a combination of <br />indoor and outdoor space; <br />LOUISVILLE REVITALIZATION COMMISSION <br />33 <br />