There are currently two proposed apartment development projects in the City of Robbinsdale. One is under construction. The second has had the preliminary development plans approved by the City Council,and the Tax Increment Financing option has been approved.
Citizens Independent Bank/Lakeland Professional Office Building (West Broadway/Lakeland Avenue)
Birdtown Flats will be a 152-unit apartment complex on West Broadway just north of Citizens Bank. The building will be market rate apartments with 2-bedroom, 1-bedroom and studio units and plenty of amenities including underground parking, roof top deck, and pet area. The groundbreaking was on September 11, 2018. The apartment site plan is shown below. Apartment reservations are being taken.
The Robbinsdale Economic Development Authority (REDA) has allowed issuance of a privately financed pay-as-you-go note not to exceed $2.5Million. It is anticipated that tax increments for this assistance will be obtained in 10 years. A portion of the higher property tax payments from the development are are available to repay a privately financed loan. There are no public funds provided to the project either from the City or REDA.
Reports related to this development are shown below:
St. Petersburg / American Legion Site (36th and France Avenue)
The proposal approved by the City Council on October 16, 2018 is for a 197 market rate, high-amenities apartment - mostly 1 bedroom with about 20 studio, 30 2-bedroom, and 3 3-bedroom. The St. Petersburg Restaurant and Vodka Bar and the American Legion will still be open until the property is sold to the developer by the current owner. The concept includes 2 levels of underground parking, pet friendly areas, and an outdoor pool. The site plan and building elevation are shown below. The development plan was approved by the City Council agenda on October 18th.Details on this attachment: 10-16-18_A
The project is seeking assistance in the form of Tax Increment Financing. A public hearing on and update to the Redevelopment District 13 and Tax Increment Financing (TIF) District 14 was held at the City Council meeting on February 19, 2019. The TIF Plan document TIF 14 PLAN was approved by the Robbinsdale Economic Development Authority (REDA) and City Council in February 2019. On April 9, 2019, REDA approved assistance in the form of a pay-as-you-go TIF note in the amount of $7.7M for the $52.75M project. A portion of the higher taxes (increment) is available for repayment of a privately financed loan. The increased taxes are not part of the general city tax levy. There are no public funds provided to the project either from the City or REDA.
The amenities package includes individual and group fitness rooms, chef's table, recreational and community rooms, fireside lounge, and home/business office space with technology enhancements. The exterior common area includes fire pit, sun deck, pool, outdoor yoga areas, dining spaces and outdoor kitchen and bar area.
Clean up of undesireable fill is to be financed with grants from Metropolitan Council ($250,000 confirmed), Hennepin County ($24,468 confirmed), State of Minnesota DEED ($184,438 application submitted) and developer contribution of $59,500.
Ground breaking is expected to be in Fall, 2019.