A retail developer is in the early stages of building a new shopping center in Ramsey.
On Feb. 12, the City Council approved a purchase agreement with RGH Ramsey LLC to buy three lots to build space with potential to house four new retail shops.
“I think Ramsey’s reached the tipping point commercially where additional retailers would like to come into the city,” RGH chief manager Rob Hardy said.
Located near the intersection of Armstrong Boulevard and 147th Avenue, Hardy will purchase the land for just under $1.4 million, which works out to about $8 per square foot.
A preliminary site plan shows three options: one with a large grocery store and two free-standing retail buildings and the other two both show four free-standing buildings with minor location differences between the two plans.
The potential tenants are still unclear because Hardy still needs to find businesses looking to expand into the location.
He expects Ramsey is large enough now to attract more retail development, which is a population-driven, or rooftop-driven, industry, Hardy said.
“At this juncture, I’m hoping to get a drugstore to come,” Hardy said.
The largest challenge Hardy expects is that retail stores have slowed in their expansion, he said.
Plans may change as the site plan had yet to be reviewed for zoning code and fitting with the rest of the COR.
The developer will have some time to find tenants for the property with the option of extending the closing date by one month at a time for $5,000 each, up to six times.
The city requires a certificate of occupation for the first building by June 15, 2020, and the second on June 15, 2021.