Discussion:
Gaughan was the only responder to the city's request for proposal. Their original proposal included all of the EDA-owned property. Since that time, they have modified the design to include the property at 126 Atwood.
Patrick J. Gaughan established Gaughan Companies in 1969. He led the Construction, Development and Management company for 28 years with a steadfast commitment to quality, safety, timeliness and budgetary priorities. The company prospered, and Gaughan Companies developed a reputation for sustainable, consistent and reliable results.
During the time of his leadership, Gaughan Companies became one of the top Commercial Construction companies in Minnesota. The company developed and constructed Industrial, Retail, Medical, Multifamily Apartments and Office buildings across the state and was awarded the first TIF project of Washington County
In 1997, the youngest of Patrick J.’s children, Patrick M. Gaughan, bought the company after his father’s passing. Under his leadership, Gaughan Companies has continued as a Construction General Contractor and Commercial Real Estate Developer; the company continued to diversify by offering related services, such as Commercial Brokerage and HOA Management.
For many years, Minneapolis St. Paul Business Journal has named Gaughan Companies as one of the Top 25 Commercial Real Estate Brokerage Firm, Property Management Firm, Developer and General Contractor.
Gaughan is currently completing the development of Lighthouse Lofts in downtown Forest Lake. It is a new $16 million apartment complex built on the site of the old city hall. The apartments are being constructed by Gaughan Companies. The City of Forest Lake sold the site to Gaughan for $1.
Gaughan has proposed approximately 125 units of market rate apartments on the river along with a restaurant location overlooking the river. Parking would be under the building to take advantage as grades fall to the river. First Avenue would have units with more of a row house feel as the project would rise towards the river. The main pedestrian entrance will be on Levee Drive with a two story lobby. Their is also a tenant patio on the upper floors with views towards and across the river.
The plans provided do not show final colors or materials but are more of a detailed massing and character study. The current park area will need to be modified to accommodate the relocated street and to provide a better pedestrian experience.
As part of the project, utilities will be relocated and Shakopee Public Utilities is considering relocating the overhead power lines along the river into a new underground conduit in Levee Drive.
The developer will be requesting TIF assistance to assist with bedrock removal, removal of a recently found garbage dump along the river, and to provide public improvements including proper relocation of Levee Drive and sidewalk and streetscape improvements adjacent to the project. The City Council and EDA will be asked to set the maximum present value of the TIF in July. The TIF would be a pay as you go TIF note with the city also receiving its share for property acquisition, utility relocation (alley) and other site costs.