by Jim Boyle
A preliminary development agreement for a multi-family, mixed-use development in downtown Elk River was extended for a second time on May 4 by the Elk River City Council and the city’s housing and redevelopment authority.
The preliminary development agreement between the city of Elk River and developer Modern Construction was approved at an Elk River City Council meeting in October 2019.
The agreement does not obligate the city to move forward with whatever proposed plan the developer would bring back, but it does specify that the city would not work with another developer interested in the same area for the length of the agreement.
Previously, the agreement ran until February 2020. The agreement was extended back in February until June. This extension granted the developer more time to receive more public input and begin design and preliminary engineering for the project.
The latest extension runs into September. There will be a joint meeting of the Housing and Redevelopment Authority and the City Council on Sept. 8.
The agreement allows Modern Construction to explore feasibility and finance options for the development. It also requires the developer to communicate with nearby property owners and businesses to determine support, as well as look at how the development would affect parking and traffic.
The project would bring high-density, market-rate housing to downtown Elk River, the demand for which is fast approaching Elk River as in other Twin Cities exurbs, Modern Construction President Jesse Hartung said in a previous meeting.