Business Journal: Condos, Park Compete For Site Near Guthrie
» Three competing proposals, including a park and a 30-story condo tower, are vying for a coveted site by the Guthrie Theater in Minneapolis, along the banks of the Mississippi.
The City of Minneapolis received the plans in response to a request for proposals it issued in December regarding a 5.6-acre site adjacent to the newly built Guthrie.
The city was looking for development ideas that could include housing, entertainment or small retail. The site has some significant technical challenges, including a large power-line tower and related easements for Xcel Energy.
The deadline for proposals was March 2. Some or all of the respondents will be invited to present their plans on March 22 to a review committee established by the city's economic development department. «
The story, by The Minneapolis St. Paul Business Journal staff writer Sam Black, goes on to describe the three proposals, which include:
- Brighton Development Corp. of Minneapolis and a Minneapolis-based nonprofit called Norway House have proposed developing two $20 million condominium buildings, including a 35,000 square foot American Norwegian business and cultural center.
- Hunt Associates of Minneapolis and North American Partners Development Co. of Dallas have proposed a 30-story contemporary condo tower with 47,200 square feet of restaurant and commercial space.
- The McGuire Family Foundation, a Wayzata nonprofit organized by UnitedHealth Group CEO William McGuire, proposed donating between $2.5 million to $3.5 million for a public park highlighted by a 25-foot tall observation mound.
Read entire article with more details at the Business Journal web site.