Facing a depressed condo market, the city of Minnetonka approved senior apartments in place of condos for the Glen Lake redevelopment area. But the proposed senior building has already hit a snag.
Financing is proving to be troublesome for the developer, St. Therese Southwest Inc. So it delayed until May its request for city review of its proposal to build 150 senior rental units at Tree Street and Woodhill Road.
Minnetonka City Council members approved the change in development plans anyway to encourage St. Therese -- or another developer -- to build senior housing on the vacant 2.6-acre site.
"I feel a little bit like it's Christmas and the present I was promised I didn't get," City Council Member Bob Ellingson said at a meeting Monday night. "It's kind of a funny discussion we are having because I expected we would be approving St. Therese tonight."
City Manager John Gunyou said, "St. Therese's decision to ask for a delay came at the 11:59 hour." He said changing the development plans anyway would signal to prospective developers that "we have a deal in place."
Council Member James Hiller, who represents the Glen Lake area, voted against the switch after asking several questions from a list he'd prepared for the meeting. He said the city had not made benefits and drawbacks of the change clear to residents.
"I can't fully understand what we are paying our money for and what we are getting for this," Hiller said. "I cannot find any of the discussion of what are the costs of not having housing for young families and young workers versus housing for seniors."
Mayor Terry Schneider chided Hiller for bringing a list of detailed questions and expecting answers at a meeting where the council was set to make a policy decision on the bigger concepts of the development.
