Each issue the Development Tracker follows construction projects around downtown and Northeast Minneapolis
811 Washington Ave. S.
Graves Hospitality has broken ground on Ironclad, a three-part project featuring a Marriott Moxy hotel, an apartment building and a retail complex. In total, the complex, now rising near Washington & Chicago in Downtown East, will feature 153 hotel rooms, 166 apartments and nearly 15,000 square feet of retail space, including 3,300 square feet for a restaurant and 1,000 square feet for an outdoor patio. Approximately 465 total parking stalls will support the number of uses. Ironclad is laden with amenities. The hotel will have a 2,200-square-foot pool with a maximum depth of 48 inches, two hot tubs and private outdoor terraces. Residents will have access to a rooftop deck, a “Central Green” open lawn and a fourth-floor plaza lounge. Users of the 4,500 square feet of office space will have bocce courts, pingpong tables and access to a pavilion and bar.
600 N. 1st Ave.
City of Minneapolis
The Target Center will reopen this month after an approximately $140-million renovation, just in time for the Minnesota Timberwolves’ Oct. 20 home game. Through several phases of construction, the city-owned, multi-use arena has seen the addition of a glassy three-story atrium, a new scoreboard and an overhauled exterior design. The City of Minneapolis contributed a bit more than half of the renovation cost, which was also covered by the Timberwolves, Lynx and AEG, the arena’s operations manager.
818 Dunwoody Blvd.
Dunwoody College of Technology
Dunwoody College of Technology has broken ground on a major overhaul of its gymnasium to build a collaborative learning space and welcome center for students and faculty. The project goes along with the school’s creation of a new engineering school and demand for new learning spaces. Demolition of the 1924 building will begin later this fall and Dunwoody expects to reopen a new building late next year. The project will result in a new Learning Commons and Welcome Center with a library, research technology, classrooms and multi-use spaces. Dunwoody is funding the redevelopment through investments from alumni and industry partners. Mortenson is the general contractor on the project.
625 4th Ave. S.
The Hennepin County Commission voted Sept. 26 to approve the $55-million sale of Thrivent Financial’s downtown headquarters building, a 17-story building the county plans to use to consolidate its fragmented facilities. Commissioners voted 5-2 to buy the 525,000-square-foot building. Along with the deal, the county intends to purchase more than 330 parking spaces for $11.5 million that would be in a new mixed-use building proposed just to the east of the Thrivent building. Thrivent announced a plan last month to build a new headquarters in a full block it owns kitty-corner to its current building. The dark-pink building is across the street from the Hennepin County Government Center.
514 2nd St. SE
The Soap Factory has broken ground on a $6.2-million renovation of its Southeast Minneapolis warehouse building. The non-profit art gallery is planning to maximize the 52,000 square feet of its 130-year-old building with artist studios, a restaurant and 14,000 square feet of remaining exhibition space. Soap Factory is financing the project with historic tax credits, a New Markets Tax Credit, philanthropic donations and a mortgage. The nonprofit plans to reopen the three-story building next spring. Its basement, no longer haunted by the now-independent Haunted Basement, will also be private studios.
Nicollet Mall between Washington Avenue & Grant Street
City of Minneapolis
Crews have begun reinstalling the iconic Sculpture Clock, one of the first public art pieces on Nicollet Mall, near Peavey Plaza. The 16-foot-tall clock tower stood next to Peavey Plaza from 1968 until its recent restoration. The piece from artist Jack Nelson was temporarily removed for repairs during Nicollet’s $50-million renovation. The 12-block overhaul of the mall will be substantially complete later this fall.
900 Nicollet Mall
Target has unveiled its redesigned Nicollet Mall store following a $10-million revamp. The store now features a liquor store — which replaces the former Instinct Art Gallery space next door — renovated Starbucks coffee shop and CVS Pharmacy locations and an expanded grocery section. Customers now have additional self-checkout lanes and can pick up orders at a new pickup area on the skyway level. The Minneapolis-based company plans to overhaul one-third of its stores by the end of 2019, an investment of more than $7 billion.
Lowry & Central
938-958 Lowry Ave. NE
The City of Minneapolis and Hennepin County are preparing a site in Northeast Minneapolis for redevelopment. The City Council’s Community Development & Regulatory Services Committee voted in late September to authorize a cost participation agreement with Hennepin County to share property acquisition and demolition costs to assemble the site near Central & Lowry. The site, which comprises 16 properties, will make room for a future road-widening project anticipated in 2022 and the rest will be used for redevelopment. The county has allocated $945,000 for the costs.
500 Nicollet Mall
Renaissance Square, a 10-story office building on Nicollet Mall, has been sold for $20.3 million, according to a certificate of real estate value recently filed in Hennepin County. The 1898 building at 5th & Nicollet features 30 reserved underground parking spaces and a 10-story atrium with a skylight, according to Colliers International Minneapolis-St. Paul. RPD Catalyst sold the building to an entity related to Boston-based Davis Cos. The building was last renovated in 2008.
24 2nd Ave. N.
Federal Reserve Bank of Minneapolis
The Federal Reserve Bank of Minneapolis is looking to purchase a surplus parking lot in the North Loop for $7.5 million, according to a Hennepin County Regional Railroad Authority Board memo. The three-acre property, also known as the Heritage Landing parcel — not to confused it with the condo building of the same name in the neighborhood — was declared surplus by the authority. The Federal Reserve has indicated to the authority that it intends to develop the site to support its downtown Minneapolis operations.