SHINGLE CREEK CROSSING The Redevelopment of Brookdale Mall 1964 - - PowerPoint PPT Presentation

SHINGLE CREEK CROSSING

The Redevelopment of Brookdale Mall

1964 Aerial Photo

Source: CB Richard Ellis

Originally developed as

• ne of four enclosed

super regional shopping centers throughout the twin cities, known as the “Dales” Southdale (Edina)

• pened in1956;

Brookdale opened in 1962; Rosedale (Roseville) opened in 1969; and Ridgedale (Minnetonka) opened in 1974.

Brookdale Site history….

• Brookdale Regional Mall opened in 1962 and immediately became one of

the most successful shopping centers in the region

• The main anchors were Sears and JC Penney’s
• 1966‐67 – the mall was expanded to include Dayton’s and Donaldson’s
• 1995 ‐ Donaldson’s converted to Carson Pirie Scott, which was converted

to Mervyn’s (by Dayton‐Hudson group); Dayton’s converted to Macy’s in 2006

• 42 years later (2004), its first anchor JC Penney closed; follow by Mervyn’s,

Barnes & Noble, and finally Macy’s in 2009.

• Only Sears, Kohl’s and Applebee’s remain

BACKGROUND INFORMATION

.

The Applebee’s restaurant and most of the interior improvements were completed by Brookdale Center, with the exception of the second story theater.

In 1999, the City approved the Planned Unit Development/Rezoning application to change the zoning of the Brookdale Mall properties from C‐2 (Commerce) District to PUD/C‐2

2007 – City approves a PUD Amendment to allow the removal of Mervyn’s store and replaced with a 185,000 sf. Wal‐Mart SuperCenter

The proposed development was legally challenged by Sears under the terms and conditions of the Master Operating Agreement for the Brookdale Center and subsequently the application was withdrawn.

Xerxes Avenue – looking north

Xerxes Avenue – looking north

Bass Lake Road – looking west

Bass Lake Road – looking east

Oct.‐ Nov. 2010 Shingle Creek Crossing – FIRST VISION

PUD Plan – Approved May 23, 2011

Map of Redevelopment Project No. 1 & TIF District No. 3

13 Brookdale Properties to be removed

(Renewal Renovation) 8-Parcels

City’s TIF Assistance

Elements of the Finance Plan include:

• $2.4 M inter‐fund loan from TIF 2 to TIF 5 (Minnesota Jobs Bill)
• $2.3 M Pay‐As‐You‐Go Note from tax increment generated from TIF 2
• $2.4 M loan facilitated by the 2010 Minnesota Jobs Bill

– $1.4 M a forgivable loan, for the completion of the 1st phase improvements, including internal streetscaping and daylighting of the Shingle Creek. – $1M forgivable loan, that is proportionately forgiven based on the percentage of Phase II Development completed in the first 5 years.

• $2.3 M Pay‐As‐You‐Go note from the tax increment to be generated by the Shingle

Creek Crossing Development The 1st phase minimum improvements defined in the Tax Increment Agreement include:

• Demolition of approx. 750,000 sq.ft. of the Mall,
• Reskinning of the exterior of the Food Court Building,
• Partial daylighting of the Shingle Creek,
• Phase I streets and streetscaping ,
• Storm Water Detention

Phasing Plan (May 11, 2011)

Brooklyn Center Brooklyn Center

Brookdale Mall Brookdale Mall City Hall Library Central Park City Hall Library Central Park Earle Brown Center Earle Brown Center

600 acre study area 115 acres proposed areas

• f change

600 acre study area 115 acres proposed areas

• f change

Source: Calthorpe Study, 2002

The Study Area The Study Area

Town Center Area Retail Core Area Regional Trails Potential Redevelopment Sites Town Center Area Retail Core Area Regional Trails Potential Redevelopment Sites

FBI

2011 Community Development Projects