A week after a father-son team dropped their plan to build a liquor store at the corner of Broadway Street and Marshall Street, another developer has emerged with a new concept involving health care.
Ed Smith, who owns the Modern Roadways building at 80 Broadway St. NE, told The Journal he’s meeting Monday to negotiate a deal with The Davis Group, a Minneapolis-based medical real estate company.
Smith said as soon as the liquor store proposal was abandoned he received calls from two new developers interested in buying the site. He hopes to sell the property for $600,000, double Hennepin County’s 2013 estimated market value of the land.
The Davis Group didn’t immediately return a request for comment. According to the company’s website, past and present clients have included individual physicians, multi-specialty medical groups, hospitals, large healthcare organizations and HMOs.
The Modern Roadways land has long been considered the neighborhood’s best piece of developable land due to its high-traffic location and proximity to the Mississippi River. The site is considered an eyesore because Modern Roadways, an asphalt paving company, uses it to store large trucks and gravel.
Steve Krause and his son Jason Krause spent months trying to convince the neighborhood and city council to approve their proposal for a 7,500-square-foot liquor store. The neighborhood voted against the proposal in February after heated debate, and city council approved it only after placing nine conditions on the site plan, causing the Krauses to drop the proposal in June.