Gaughan Companies plans 12,000-square-foot development
The future Forest Lake City Center site may not look like much at this point, but the pieces around it are beginning to snap into place.
The remaining section of the former Northland Mall housing The Dance Factory and Anytime Fitness has been re-skinned with a new exterior that will complement the city hall and public safety building currently under construction across the parking lot.
Monday night brought news regarding another City Center neighbor, as the Economic Development Authority entered into a purchase agreement with Gaughan Companies for two outlots on the property. The Forest Lake-based real estate company plans to bring a 12,000-square-foot retail facility to the nearly 62,000-square-foot site along the east edge of the property.
Last winter, the authority purchased the land for around $3 per square foot. It will receive $5 per square foot in this deal, totaling more than $300,000.
The Economic Development Authority must ready the site for construction, but City Administrator Aaron Parrish said that can be done at a reduction of the contract for the City Center, as it will save some materials from being hauled off-site. The development’s architecture will have to complement that of the City Center.
Terms of the purchase agreement were discussed in closed session before the authority approved it Monday night. The agreement provides each party with a 180-day due diligence period.
City Center update
Parrish gave a brief overview of City Center construction. Soil corrections have been completed and work on the footings was more than 90 percent complete as of Dec. 4.
The first of a couple hundred pre-cast walls will go up in early January. All of those walls will be erected within a month of each other, Parrish said.
Also at the meeting, the authority approved its second payment to Kraus-Anderson Construction Company for the project. The payment of $575,175 brings the total paid for construction to just less than $1 million.