Today Minneapolis issued a Request for Proposal (RFP) for the right to develop on top of the six-story parking garage scheduled to be built next to the new Vikings stadium.
The development rights also include a 14,000-square-foot rectangular parcel at street level facing 4th Street, in addition to the 81,000-square-foot "air rights plane" on top of the parking structure. The developer can build "one or more" floors, but may be required to pay for additional levels of parking if the development will bring in lots of vehicles.
The parcel's zoning "allows office, hotel, retail, residential uses and was established to provide an environment that promotes the development of higher density neighborhoods."
Proposals are due by Feb. 4. The city will spend several weeks reviewing the proposals and hope to get initial approval from City Council by early March. Then the city hopes to close the sale later this summer and have the developer begin construction by the end of 2015.