Downtown Minneapolis - News & General Topics

[Silophant]

Do they plan to build something there, or just use it as more parking?

[EOst]

I believe it's just more parking.

[Wedgeguy]

I myself have a hard time believing that the HPC will allow the building to be tore down for parking. I find it hard to believe that the city has not already said no to them thru an email or something like that. Thought there were to be no more tear downs for parking lots!!

[lordmoke]

Fun idea: Bobby and Steve's can move their store into the historic buildings they own and tear down their old store if they want more parking. Doesn't this area fall into the "no new parking downtown" district?

[min-chi-cbus]

I'm optimistic something more than a surface lot will go here......like maybe an updated Bobby & Steve's, and turn their old place into.........................a surface parking lot.

[Silophant]

Fun idea: Bobby and Steve's can move their store into the historic buildings they own and tear down their old store if they want more parking. Doesn't this area fall into the "no new parking downtown" district?

If I'm reading this map correctly (I might not be, I'm kinda colorblind), it is in the Downtown Parking district, which prohibits new or expanded surface parking lots, except for accessory lots with up to twenty spaces, which Bobby and Steve's is already way past. Hard to say.

[FISHMANPET]

You are reading it correctly, that is in the Downtown Parking District. But holy crap is that map hard to read. Which is especially bad because those maps are the official record of overlay districts.

[grant1simons2]

100 Washington is planning to renovate their existing plaza and entrance

http://www.minneapolismn.gov/www/groups ... 143404.pdf

[seanrichardryan]

A Morning Glory fence mesh? Is that for all seasons or will they switch it out to grey tundra screening in the winter?

[seanrichardryan]

I'm partial to 'Block Wall 3'
http://www.fencescreen.com/configure/preprinted#/step-1

[Wedgeguy]

100 Washington is planning to renovate their existing plaza and entrance

http://www.minneapolismn.gov/www/groups ... 143404.pdf

Walked by there today and saw some fencing up, but was not sure what they were doing. Would be nice if they moved the parking underground and made a more appealing north side.

[David Greene]

I'm partial to 'Block Wall 3'
http://www.fencescreen.com/configure/preprinted#/step-1

True story: My wife's cousin, who has Asperger's and lives in Nebraska, was upset the city wouldn't let him build a privacy fence along a street. So he meticulously and strategically planted bamboo. That stuff grows FAST and TALL.

[twincitizen]

Finally, newz: office for Nate's

http://www.journalmpls.com/news-feed/na ... sold-again

Swervo (Ned Abdul) bought it for $4.15MM: http://www.bizjournals.com/twincities/b ... lding.html

So Swervo recently sold a portfolio of downtown properties for $87.5MM. To avoid a huge capital gains tax hit, they can do a "1031 Exchange" and reinvest that money into other properties. In recent weeks, Swervo picked up the Armory for $6MM, NE Business Center for $2.2MM and now this for $4.1MM. Earlier this year he bought the former Uptown Library branch building from Lifetime Fitness for $2.5MM. That leaves a lot of potential investment (perhaps another $50-60MM) to be made in other properties. I wonder what else Ned Abdul has his eyes on.... perhaps he'll get back into some condo conversions, if any good buildings are made available.

[Tyler]

Capital gains. Not capital sales. So probably not a whole lot left and certainly not 50-60mm.

[twincitizen]

Good point. Let's just sum it up by saying that Swervo may or may not be done buying buildings in Minneapolis

[and move on...now that I split all the tax talk off into a separate thread]

[PhilmerPhil]

[Didier]

That's actually pretty close to the Consortium.

[HiawathaGuy]

North Memorial to open Minneapolis skyway clinic in old Saks space
http://www.bizjournals.com/twincities/n ... linic.html

Love the reuse of spaces happening downtown!

[Wedgeguy]

North Memorial to open Minneapolis skyway clinic in old Saks space
http://www.bizjournals.com/twincities/n ... linic.html

Love the reuse of spaces happening downtown!

That works great being next to Walgreen's. I thought that was too valuable of space not to have something going into that side of the skyway with all the foot traffic that goes thru there.

[martykoessel]

With the demise of the old Star Tribune building imminent, I've been wondering about the window frame ornamentation on the main facade. It's very good and, I think, worth salvaging. Do any of you happen to know if there are plans for doing that, or is it just headed for the recycling bin?