Stadium Parking Ramp Development Site

Downtown - North Loop - Mill District - Elliot Park - Loring Park
John
Capella Tower
Posts: 2253
Joined: May 31st, 2012, 2:06 pm

Re: Stadium Parking Ramp Air Rights Development

Postby John » April 25th, 2014, 11:31 am

Last month a guy at the "NIc on Fifth" leasing office told me Ryan was considering a 50 story proposal on the ramp site. I'm thinking the 27 story rendering in the media is one concept they are considering, in addition to a 50 story one. There are probably several other options between the two they're mulling over, and perhaps including a condo component on the higher floors. They certainly have a very auspicious location for a major tower.

nordeast homer
US Bank Plaza
Posts: 698
Joined: June 1st, 2012, 11:11 am

Re: Stadium Parking Ramp Air Rights Development

Postby nordeast homer » April 25th, 2014, 11:53 am

There sure are a lot of "ifs" with this one. I'll be happy when they submit something, until then it's kind of on my minds back burner. I'm glad to see they are re-evaluating the potential of this property. Makes you wonder if Mortenson wishes they had proposed something more substantial.

kregger22

Re: Stadium Parking Ramp Air Rights Development

Postby kregger22 » April 25th, 2014, 12:29 pm

Thank you for that John. I love how this project is ripe with speculation and the end product could be something that blows our hair back.

twincitizen
Moderator
Posts: 6206
Joined: May 31st, 2012, 7:27 pm
Location: Standish-Ericsson

Re: Stadium Parking Ramp Air Rights Development

Postby twincitizen » April 25th, 2014, 12:46 pm

The only thing omitted from the article snippet posted above is that Ryan will make a final decision on the scope of the project in mid- to late-May.

John
Capella Tower
Posts: 2253
Joined: May 31st, 2012, 2:06 pm

Re: Stadium Parking Ramp Air Rights Development

Postby John » April 25th, 2014, 1:14 pm

kregger22 wrote:Thank you for that John. I love how this project is ripe with speculation and the end product could be something that blows our hair back.
Just read Avian over at SSC, and he reported the concept they're considering now is about 35 stories.

min-chi-cbus
Capella Tower
Posts: 3131
Joined: June 1st, 2012, 9:19 am

Re: Stadium Parking Ramp Air Rights Development

Postby min-chi-cbus » April 25th, 2014, 1:37 pm

35 floors is far more believable than 50 floors, I must say, even though I think 50 floors would stand out in a good way (and I'm not just saying that because taller = better, because it's not always true). This is one location that a.) is becoming more prominent by the week, b.) is very high profile and will be in just about every single outside TV shot or picture, and c.) has most/all of the amenities that could foster super high-density residential living.

If there is a good place in the Twin Cities metro to support 40-50+ story high-rise residential development, locations like this one -- along the park, set back from the river or any nearby lower-intensity residential neighborhoods, and near so many amenities including mass transit -- would have to be one of the very few places (maybe the ONLY place) outside the core CBD where that could occur (currently).

go4guy
Foshay Tower
Posts: 900
Joined: June 4th, 2012, 8:54 am

Re: Stadium Parking Ramp Air Rights Development

Postby go4guy » April 25th, 2014, 2:15 pm

Not to doubt you, John. But why would a guy at the Nic on 5th leasing office (An Opus project) have inside information on a Ryan project?

John
Capella Tower
Posts: 2253
Joined: May 31st, 2012, 2:06 pm

Re: Stadium Parking Ramp Air Rights Development

Postby John » April 25th, 2014, 6:11 pm

go4guy wrote:Not to doubt you, John. But why would a guy at the Nic on 5th leasing office (An Opus project) have inside information on a Ryan project?
That's what he told me. I have no idea why he would have inside info other than he is in the development business. Just reporting what he said. The article today did say they are looking at a larger building than 27 stories, and Avian reported the new proposal at about 35 stories on SSC . We will know more in May as TwinCitizen stated earlier, so we'll have to wait and see.

Aville_37
Union Depot
Posts: 388
Joined: August 28th, 2012, 4:51 am

Re: Stadium Parking Ramp Air Rights Development

Postby Aville_37 » April 25th, 2014, 7:41 pm

Taller would be cool, but I really want to see Ryan commit to developing the parcels north of the Wells Fargo building. I'd rather see something there than a few floors added to a tower.

gman
Block E
Posts: 6
Joined: July 30th, 2012, 10:09 am

Re: Stadium Parking Ramp Air Rights Development

Postby gman » April 27th, 2014, 12:30 pm

Aville_37 wrote:Taller would be cool, but I really want to see Ryan commit to developing the parcels north of the Wells Fargo building. I'd rather see something there than a few floors added to a tower.
I haven't posted since Minnescraper but felt compelled to here. This hit a nerve with me. Why do so many people in our Minnesota culture have this 'need to settle' or 'we're not quite good enough for this' mentality, as if lopping a few floors from one building will allow another building to get built. I get what you mean and I certainly mean no disrespect, but assuming market demand, can't we have both?

I'm reminded of an episode of Seinfeld where Jerry put his parents up in a five star hotel. They walked into the room and Jerry's mom said "oh let's go Morty. This place is too nice."

TheUrbanGopher
Nicollet Mall
Posts: 194
Joined: December 3rd, 2012, 7:03 pm

Re: Stadium Parking Ramp Air Rights Development

Postby TheUrbanGopher » April 27th, 2014, 1:39 pm

I would personally rather live in a Minneapolis that feels more like San Francisco (extended density on all blocks, 2-3 story buildings, interesting to walk on every street) than Houston (tall buildings in downtown core surrounded by nothing but parking lots). I agree with Aville - tall is cool, but overall density is better.

Having both is obviously best.

gman
Block E
Posts: 6
Joined: July 30th, 2012, 10:09 am

Re: Stadium Parking Ramp Air Rights Development

Postby gman » April 27th, 2014, 1:45 pm

I agree. Having both is best, which is my point. We don't always have to believe that settling for one or the other is the only option.

writruth
Nicollet Mall
Posts: 114
Joined: June 1st, 2012, 4:57 pm

Re: Stadium Parking Ramp Air Rights Development

Postby writruth » April 27th, 2014, 4:20 pm

San Francisco is a city that successfully has both density and height, even in an earthquake zone.

I have often made the case here that Minneapolis' penchant to settle for sub-optimal development outcomes appears to be congenital or perhaps at least a result of an inferiority complex. Looking forward to seeing this pattern shattered in the next five years.

The scale of the new stadium, Minnesota's resurgent economy and Target's lease in the Multifoods tower coming due early in the next decade might create the conditions for the construction of at least one or two new City tallest towers. It should be an exciting time for a vertical surge in Downtown development.

kregger22

Re: Stadium Parking Ramp Air Rights Development

Postby kregger22 » June 5th, 2014, 1:49 pm

I'm confused as to why a new rendering has not come out for this project. I'm also confused why there has been NOTHING in the media as to when this project might kick off.

Wedgeguy
Capella Tower
Posts: 3785
Joined: June 1st, 2012, 6:59 am

Re: Stadium Parking Ramp Air Rights Development

Postby Wedgeguy » June 5th, 2014, 1:59 pm

I think in part because they are are getting the WF Towers off the ground first. They can start the Parking ramp later and still be on time for the ramp to be open for the opening of the stadium. Not sure that the Hotel will also be ready at that time.

Also they maybe looking at adding stories to the apartment building, I don't know. They maybe getting some feed back from Magellan on what they would like to see as far as things go. It will happen when all of the parties involved have had their say in what they need from the project.

kregger22

Re: Stadium Parking Ramp Air Rights Development

Postby kregger22 » June 5th, 2014, 2:02 pm

I had heard they may be looking into adding stories to the tower, and possibly a completely different looking building all together.

twincitizen
Moderator
Posts: 6206
Joined: May 31st, 2012, 7:27 pm
Location: Standish-Ericsson

Re: Stadium Parking Ramp Air Rights Development

Postby twincitizen » June 5th, 2014, 2:08 pm

twincitizen wrote:FWIW, Ryan hasn't filed any plans with the city. That is to say, it's not like the 27-story version has been approved, and this would require an amendment. They haven't actually sought land use (zoning) approval for this project at all.

The only prior action by the city on this parcel was to approve the sale of the air rights to Ryan. Any actual proposal they make will go through the Planning Commission.
I said this on April 25, and it is still true today. Whatever is proposed here will still need to be approved by the city. Don't expect shovels to hit the ground anytime soon. They probably can't even start building the parking ramp if the configuration has changed significantly since it was approved as part of the Ryan/WF project. That approval last year was for a parking ramp only...

HiawathaGuy
Wells Fargo Center
Posts: 1573
Joined: June 4th, 2012, 12:03 pm

Re: Stadium Parking Ramp Air Rights Development

Postby HiawathaGuy » June 5th, 2014, 2:25 pm

twincitizen wrote:Whatever is proposed here will still need to be approved by the city. Don't expect shovels to hit the ground anytime soon. They probably can't even start building the parking ramp if the configuration has changed significantly since it was approved as part of the Ryan/WF project. That approval last year was for a parking ramp only...
I'm trying to dig back and find it, but I know there were timelines given on the tower... here's what I've found:

From the city: http://www.minneapolismn.gov/www/groups ... 121904.pdf

The next steps in the project will involve the final design work on the parking ramp to accommodate the hotel and apartment tower, all of which is subject to approval by the MSFA, with construction on the parking ramp scheduled to begin in 4th quarter 2014 and be substantially completed by 4th quarter 2015; thereby permitting subdivision and conveyance of the Property and the work to begin on the hotel and apartment tower.

From KSTP:http://kstp.com/article/stories/s3379165.shtml

The company expects the projects to be completed by August 2017.

go4guy
Foshay Tower
Posts: 900
Joined: June 4th, 2012, 8:54 am

Re: Stadium Parking Ramp Air Rights Development

Postby go4guy » June 5th, 2014, 3:07 pm

Since Ryan is the developer for both the ramp and the tower, wouldnt you think it would make more sense for them to do the whole project at once? Seems it would save a ton of money.

HiawathaGuy
Wells Fargo Center
Posts: 1573
Joined: June 4th, 2012, 12:03 pm

Re: Stadium Parking Ramp Air Rights Development

Postby HiawathaGuy » June 5th, 2014, 3:21 pm

go4guy wrote:Since Ryan is the developer for both the ramp and the tower, wouldnt you think it would make more sense for them to do the whole project at once? Seems it would save a ton of money.
Except the ramp has to be completed for the stadium opening (August 2016) and I don't think they can have the residential/hotel portion completed by that time. Seems there are a lot of crazing moving pieces. In my digging I read that Ryan was to come back to the City by the end of May with updates to the development. So it shouldn't be long before it's before the City formally.


Return to “Minneapolis - Downtown”

Who is online

Users browsing this forum: No registered users and 15 guests