Champlin's riverfront Gateway is still on track

Despite a tough housing market, Champlin has continued efforts to clear the way for a $50 million retail-condominium project planned along the Mississippi River.

Champlin bought and demolished another apartment building in August that is part of a 3.5 acre site just downstream of the Anoka-Champlin bridge. The Gateway project would include a riverfront restaurant, boat docks and a five-story building with first-floor retail shops, 58 condominiums and a parking ramp, said John Cox, the city's Economic Development Director.

"We are ready to go," Cox said. "It's a great site and we are waiting until the time is right."

The trick will be finding a developer with money to invest during the current housing slowdown. Cox said a development agreement was almost concluded a few years ago but fell through as the real estate market began softening.

He said the City Council considered adding some less expensive rental units but decided to stay with owner-occupied condos and wait until the market improves. Condos on the top two floors will have a view of downtown Minneapolis, he said.

Despite the depressed market, construction continued on a few Champlin housing projects last year.

Emery Estates Townhomes, built just east of Hwy. 169 at 117th Avenue, added another 16 units last year and has plans to build more once enough buyers are confirmed, Cox said. More than half the 208-unit project is built. It sits near the highway's bustling retail area.

Cox noted that a December survey showed the Twin Cities area has more than a seven-year supply of sewered, street-ready lots, compared with the two-year supply considered healthy.

The city has talked about the Gateway project for a decade and has paid more than $2 million to buy and clear two apartment buildings, with 30 units, and other parcels from willing sellers.

The project attracted media attention three years ago when a local couple who talked briefly to the city about selling their home decided against it. Fearing the city might condemn their home on the river, retirees Jim and Beverly Meide joined others testifying against eminent domain in January 2006 at the state Capitol.

The Legislature passed a law that year that barred cities from condemning land for economic development projects, Cox said. He said the city never discussed condemning the Meides' home, which sits next to the Gateway site.