3. Depot Park Square ExpansionDesign Development
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iPartners
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157 N. Meridian Rd. #112
Kalispell, Montana 59901
32USA
Phone 406 257-5533
Fax 406 257-5556
Email yaak@digisys.net
6/22/99
Susan Moyer
City of Kalispell
Community Development
248 3rd Ave. E.
Kalispell, Mt. 59901
Re: Depot Park Square Expansion
Dear Susan,
I represent the partners developing Depot Park Square in downtown
Kalispell. We began the project last July and anticipate the completion by
Labor Day this year. The City was originally concerned with our ability to
build -out the site in a timely manner and had a clause in our agreement to
repurchase the site in 5 year if we did not do what we intended. I'm pleased
to state we have exceeded all expectations.
The project is full with 12 businesses (8 retail and 4 professional). We
continue to receive inquiries for more space and are confident we can
continue to develop other buildings.
However, parking is the driving force behind additional construction.
We've identified two additional building sites that can be developed with the
current project but only if additional parking can be procured.
Currently the Liberty lot has 36 parking spaces, which we use for
employee parking. It is our view that the land is better suited for a 4000sgft
building with 3-4 retail tenants along with customer parking. This building
would be along the same design of the first building on Main Street.
However, the loss of 36 employee spaces plus the additional needs of the
project should to be addressed.
We have identified additional land in which I cannot yet disclose for
an 8000sgft building made up of retail and professional. This new parking
demand would require 30 additional parking spaces plus the movement of
the 36 spaces in the Liberty lot.
So it is quite necessary to develop a new site. The old PTI is a natural
location for an employee lot, but to acquire the site will require assistance
from the City and the TIF District.
In the spirit of the renovation of the downtown we are asking for
assistance with TIF funds to purchase the PTI site and allow our project to
continue. We are asking the City to purchase the properties identified as (2
2nd Ave E. & 20 2nd Ave. E.) the James and PTI properties, remove the
existing buildings and prepare the site for a parking lot. Depot Park Partners
will then negotiate with the City to repurchase the site for additional parking
for the new facilities. The inability to purchase additional land for parking
would freeze Depot Park Square at its current level.
Based on the cost of the current buildings #1 & #2, we anticipate the
total project cost to be $1,200,000. The additional taxes on new
development can be as high as $20,000/yr depending on the final outcome.
I'm sure when completed with the current project; the downtown vitality
will improve and be a benefit to all businesses in the center district. We're
prepared to begin the next building this fall and have occupancy by spring.
I'm currently holding space commitments until we can acquire the needed
parking -
In conclusion, I'm willing to invest substantial funds in the downtown
for continued redevelopment. I hope the City of Kalispell will join us in a
private/public partnership to complete all of our goals. I'm looking forward
to meeting with the City Counsel to further discuss our plans
Susan, thanks for your time.
SinceLy-
Ken Yachech