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VII.2. Update on Alatus Development at 325 Blake Road; Elverum CITY OF HOPKINS Memorandum To: Honorable Mayor and Council Members Mike Mornson, City Manager From: Kersten Elverum, Director of Planning & Development Date: May 16, 2023 Subject: Update on Alatus Development at 325 Blake Road _____________________________________________________________________ PURPOSE Representatives from Alatus will be at the May 16, 2023, meeting to provide an update on the redevelopment of 325 Blake Road. INFORMATION In December 2021, the Hopkins City Council approved the Planned Unit Development (PUD) for the redevelopment of 325 Blake Road. Since that time, the first building on the site, referred to as Building A, broke ground and is currently under construction. The remaining development parcels within the site have not progressed to that stage but continue to evolve as more becomes known about the market and potential for the development. Representatives from Alatus will share both the progress and obstacles of this impactful and significant redevelopment project and answer any questions the City Council may have. FUTURE ACTION This is a discussion-only item. Planning & Development