Revitalization Commission Agenda and Packet 2022 06 01

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Louisville Revitalization Commission Application for Assistance Additional Information - Attachments 1-8 950 Spruce Street — 725 Front Street Redevelopment Owner: Split Mountain Commercial 4 LLC. Application Dated: May 18,2022 1) Detailed description of the Project with supporting visuals (i.e. plans, designs). See attached approved PUD, dated 4/15/21 indicating the general project intent, building and site design, etc. Please refer to attached drawing `950 Spruce-725 Front — Site Plan.pdf' for updated streetscape design included in this request. Project includes renovation & rehabilitation of an approximately 13,400 commercial structure for commercial and residential use, and construction of new residential structure adjacent to the existing structure with parking accessed from the alley. The uses include retail, and/or office space with the addition of residential apartments. The total above grade commercial space is 6,853gsf with 7,244gsf of residential space, and an additional 4,020gsf of space that could be commercial or residential use. Sitework includes reconstruction of sidewalks, curb and gutter, removal of parking lot drive pan, as well as utility work necessary for the new development. The City desires to extend the downtown streetscape including brick paving, street trees in tree grates and decorative street lights to extend east on Spruce Street beyond the alley adjacent to the project. The potential for EV charging station infrastructure adjacent to on -street parking is also being discussed. 2) Applicant's experience with similar projects, if applicable. The Applicants have owned and managed various properties and accomplished real estate developments in Denver and Boulder County. Please see attached list of Applicant's similar projects. Assisting the Applicant with this project is architect and planner, Erik Hartronft who has owned and redeveloped properties in Louisville, notably the State Mercantile Building and the Louisville Grain Elevator, and has also been involved with many other similar private developments in Louisville and across the front range of Colorado as architect and planner. 3) Detailed description of the request for assistance from the Urban Renewal Authority. Applicant is seeking assistance for work in the public Right of Way, generally including sidewalks, curb and gutter, alley pan, brick paving accents, street trees in tree grates, decorative street lights, cut and patch street and alley for utilities and extending adequate utilities to the site including water, sanitary sewer and storm sewer, including removing existing non -conforming utilities and provide adequate electrical power from offsite. Estimated Assistance Request: $ 277,348 Construction Cost (Breakdown of construction costs is attached) $ 37,500 Estimated Streetlights, EV conduit, Elec. & Irrigation for ROW Landscape etc. $ 415,000 Estimated Underground Utilities, Xcel Upgrades $ 87,582 Soft Costs @ 12% (Professional Fees + Estimated city taxes & fees) $ 163,486 Contingency @ 20% $ 980,916 Total Estimated Cost of Assistance Request Agenda Packet P. 23