Fridley Planning Commission to Take up JLT Property
Industrial Equities' development at northeast corner of East River Road and I-694 could 'put the state’s first transit-driven tax increment financing district to use,' according to Finance & Commerce.
The Fridley Planning Commission will hold a public hearing on a transit-oriented development master plan for the JLT property at the northeast corner of East River Road and I-694 at its March 20, 2013 meeting:
Consideration of a Transit Oriented District (TOD) Master Plan, TOD #13-01, by Industrial Equities, LLP, to allow the construction of an office/warehouse building, and a future office and multi-family housing development, generally located at 5601 East River Road NE.
The Fridley City Council could take up the issue at its April 8, 2013 meeting.
Finance & Commerce reported Friday, in an article headlined "Fridley mixed-use plan near Northstar could benefit from TIF," on a Minnesota milestone the development represents:
Plans to build housing, warehouse space and offices near the Northstar Commuter Rail line have Fridley officials looking to put the state’s first transit-driven tax increment financing district to use.
(The online version of the article is subscription-required. The Northtown Branch of the Anoka County Library maintains a subscription to Finance & Commerce.)
Finance & Commerce reporter Burl Gilyard asked in a tweet, "Is Fridley site at 'the corner of hot and 100 percent'?"
John Allen at Industrial Equities LLP is the man behind the plan. The firm bought the JLT property on Dec. 28, 2013 for $1.375 million.
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