3925 49.5 Street, Ramps (East Center, West Center) Surface Parking/Center Ramp(West), 3944 49.5 Street West, 3940 49.5 Street West, 3930 49.5 Street West
Edina Market Street LLC is requesting a redevelopment of 2.9 acres of land on both sides of 49-1/2th Street, in the 50th and France Business District. The properties are owned by the City of Edina's Housing and Redevelopment Authority (HRA). In August 2016, the HRA issued a Request for Proposal (RFP) to redevelop vacant property located at 3930 W 49-1/2 Street. This property was purchased by the HRA in 2013 with the intent of creating additional public parking for the commercial district. Prospective developers were encouraged to provide creative ways to deliver public parking while also adding street life, vibrancy and new business opportunities. Buhl Investors/Saturday Properties, now Edina Market Street LLC, were selected by the HRA as the development partner.
The specific proposal is for a 2 phase development, that includes not only the vacant 3930 site, but the two public parking ramps and the old Hooten Dry Cleaner site. As proposed, at full building out, the site would include:
- Residential Apartments. 110 apartment units are proposed (10% affordable)
- Retail use. A total of 35,000 square feet of new retail is proposed on 49 1/2/Market Street on the first level; 19,000 square feet has or will be removed - Edina Realty and Hooten Cleaner
- Public Space: A total of 34,000 square feet of public space with expanded sidewalk and improved pedestrian connections is proposed
- Park stalls: There would be a total of 844 parking stalls, an increase of 139 new public parking stalls from what exists today in the two public parking and surface lot
- Comprehensive Plan Amendment