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Rock-Solid Projects Land on Finance & Commerce Top Project List for 2017

11/6/2018 4:00:00 PM

Seven DEED redevelopment projects – two in St. Paul and five in Minneapolis – were among 33 honorees for Finance & Commerce’s annual Top Projects. The projects had to be fully completed by the end of 2017 to be eligible, and were judged by the degree of difficulty, creativity in design, innovative construction techniques, cooperation among contractors and management, and sustainability efforts.

State funding is integral. These projects likely would not have come to fruition without it.

North Market

North Market The city of Minneapolis received $130,250 for limited demolition, abatement and infrastructure costs on this 1.2-acre site located at 4414 Humboldt Ave. N. Once used for a store, office and general business, the site is now home to North Market, a full-service grocery store and community health resource center. The project is anticipated to create 18 jobs. Private grant sources paid matching costs.

State funding paid for the North Market remedial work and storm water management systems.

“Having access to these resources really helps advance meaningful projects that matter to communities,” said Vanan Murugesan, Director, Design & Innovation, Pillsbury United Communities. “North Market is a source of pride for the North Minneapolis community and is doing its part to contribute to an environmentally sustainable state.

“Not having those resources would have put additional strain on the capital campaign for North Market,” he said. “While we may have been able to raise money elsewhere, we may have been forced to use those funds in other aspects of the project. Having funds specifically dedicated to environmental sustainable redevelopment ensured that the project was able to meet its environmental obligation to our community.”

Midway Stadium Business Center

2018-11-06-midway-biz-centerThe city of St. Paul was awarded $1.25 million to clean up pollutants at the 12.89-acre Midway Stadium ballpark on Energy Park Drive that at one time was used as an unpermitted dump. Now the Midway Stadium Business Center is the first multitenant industrial building with LEED certification. The project is intended to create 63 jobs, retain 126 jobs and increase the tax base by $814,331. The St. Paul Port Authority and other grant sources paid matching cleanup costs.

“We are extremely grateful for the help received from DEED, in the form of redevelopment and contamination clean-up grants,” said Andrea Novak, Senior Vice President, Marketing, Saint Paul Port Authority. “Without their support, the Midway Stadium Business Center would not have been returned to productive use.”

Other projects recognized were:

The Finn

725 Cleveland Ave. S., St. Paul

The city of St. Paul was awarded $203,615 in cleanup funding for this 0.84-acre contaminated site. The Finn, a four-story mixed-use building that includes 8,800 square feet of office space, 57 market rate apartment units and 3,500 square feet of retail, was previously a department store, bank and realty office. The project is anticipated to create 42 new jobs, retain 40 jobs, and increase the tax base by $452,387. The building’s developer, the Ackerberg Group, and other grant sources paid matching costs. The Finn is the first mixed-use residential development in St. Paul’s Highland Park.

Foundry Lake Street

3118 W. Lake St., Minneapolis

The city of Minneapolis was awarded $328,800 to clean up contaminants on this 1.9-acre site. This former site of a gas station was redeveloped into Foundry Lake Street, a 154-unit apartment building with 5,000 square feet of commercial space. The project is intended to create six jobs, retain 24 jobs and increase the tax base by $555,733. Hennepin County and the developer, Trammell Crow Co., paid matching costs.

Kraus-Anderson Headquarters

501 S. Eighth St., Minneapolis

The city of Minneapolis was awarded $761,106 in cleanup funding for this 2.53-acre site. Formerly used for warehousing, auto repair and metal refinishing, the site has been redeveloped with a new Kraus-Anderson headquarters building, a 17-story residential building, a 148-room hotel and a brewery. The project is intended to create 102 new jobs, retain 313 jobs and increase the tax base by $4,478,795. Kraus-Anderson and other grant sources paid matching costs.

Millworks Lofts

4041 Hiawatha Ave. S., Minneapolis

The city of Minneapolis was awarded $103,099 in cleanup funding for the 1.82-acre Hiawatha Corridor site. Formerly used for sash and door manufacturing and corrugated box production, the historic site was redeveloped as the Millworks Lofts, offering 78 affordable apartment units. The project is anticipated to create two new jobs and increase the tax base increased by $44,456. Matching costs were paid by the developer, Dominium, and other grant sources.

Millwright Building/Ryan Cos. US Inc. Office

533 S. Third St., Minneapolis

The city of Minneapolis was awarded $787,107 to clean up a 3.3-acre contaminated site, former site of a gas station, printing company and other business enterprises. Known as the Downtown East development, the site includes two 20-story office buildings, 76 housing units and 40,000 square feet of retail space. The Downtown East project also received a Redevelopment grant. The development is anticipated to create 88 jobs, retain 5,000 jobs and increase the tax base by $3.72 million. The developer, Artis/Ryan Millwright LP, and Hennepin County, paid remaining cleanup activities.

Hard-Working Business and Community Development Programs

These projects were funded by two DEED Business and Community Development programs: the Redevelopment Grant Program and Contamination Cleanup and Investigation Grant Program.

The Redevelopment Grant Program helps communities with the costs of redeveloping blighted industrial, residential or commercial sites for planned projects. Grants pay up to half the redevelopment costs for a qualifying site, with a 50 percent local match required.

The Contamination Cleanup and Investigation Grant Program has awarded 507 grants worth over $182 million since the program’s inception in 1995. These grants account for about 75 percent of funding used for reclaiming polluted sites and brownfields statewide.

A note about the numbers: In all these projects, the number are projections and won’t be known for one to two years after the building is completed and actual numbers are submitted by the developers via annual reports.

Credit: North Market, Knock Inc. and Midway Stadium Business Center, Finance & Commerce photo: Bill Klotz

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