205 Park Ave. S Development Proposals — Neighborhood Input & DMNA Endorsement

PROJECT BACKGROUND
The City of Minneapolis issued a request for development proposals (RFP) for 205 Park Ave. S., a Minneapolis-owned lot in the Mill District. Two developers, Sherman Associates and Grand Real Estate Advisors, submitted applications by the June 10th deadline. City staff evaluated both projects against the criteria outlined in the RFP. City Council, at the recommendation of City staff, have approved negotiating rights for Sherman Associates. View CPED Staff recommendation.

The project will eventually progress through City’s development review process. During this process, developers and city officials may consider the input of community members regarding site and building design.

View letter: DMNA Letter of Support – Grand Real Estate Advisors 07-26-16

Though the DMNA endorsed the competing project, the DMNA Land Use Committee looks forward to working with Sherman Associates to maximize the potential of this site.

Links to both proposals and additional materials can be found at the bottom of this page. 

205 Park Near and Far

 

The DMNA Board identified the following reasons for supporting the GREA proposal:

 The feedback from neighborhood residents overwhelmingly supports an owner-occupied building with a long-term affordability component. The DMNA worked diligently over the past 6 months to obtain information and responses from local residents regarding the project. The DMNA carried out a detailed online survey from December 2015 through January 2016, conducted two large and well attended forums in the spring and summer, and received numerous comments and input from the community over the past several months.

 The parking plan proposed by Grand Real Estate Advisors is better for the surrounding neighborhood. Grand’s proposal calls for approximately 50 units, with approximately 2 spaces per unit. This is better than Sherman Associates proposal, which stipulates less than 1 space per unit. The Downtown East neighborhood has limited parking spaces.

 The Grand Real Estate Advisors proposal has a smaller building footprint.

 The Grand Real Estate Advisors proposal has more green space. All ground floor units have gardens/small yards, and it has roof-top gardens.

 

RESOURCES

 

SUMMARY OF SHERMAN’S PROPOSAL

SUMMARY OF GRAND REAL ESTATE’S PROPOSAL + MEMO TO DMNA

GRAND REAL ESTATE’S LETTER TO CITY STAFF RESPONDING TO FEEDBACK FROM THE 7.12 COMMUNITY FORUM

VIEW THE CITY’S REQUEST FOR PROPOSALS

DMNA COMMUNITY SURVEY ON 205 PARK AVE

205 PARK AVE PROPOSAL COMPARISON MATRIX+ HIGH LEVEL SUMMARY (prepared by the DMNA, updated 7.12.16)

ADDITIONAL READING:

Reexamining the Social Benefits of Homeownership after the Housing Crisis published by the Havard Joint Center on Housing Studies

Article Summary & analysis by Thomas Schmid — Downtown Minneapolis resident, DMNA Land Use Committee volunteer, & recovering professor)

IN THE NEWS:
http://www.journalmpls.com/news/development/2016/06/two-developers-offer-proposals-for-mill-district-site/
http://millcitytimes.com/news/mix-of-housing-types-and-retail-proposed-for-205-park-ave.html