Century Plaza redevelopment - 330 South 12th St

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twincitizen
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Century Plaza redevelopment - 330 South 12th St

Postby twincitizen » January 31st, 2017, 6:41 pm

http://finance-commerce.com/2017/01/hen ... ury-plaza/

Hennepin County is getting ready to sell Century Plaza. Real estate professionals and the DMNA think residential is the best fit, and multi-tenant office space would be a tough sell in this location. The building does not currently have any historic designation, but that doesn't mean the HPC couldn't try to block a demo. I didn't know it was originally built by Minneapolis Public Schools (then sold to a developer then sold to Hennepin County)

Note: for archived discussion of this site (mostly a bunch of rumoring about a fake convention hotel, but also interesting conversations), see here: viewtopic.php?f=13&t=407

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Re: Century Plaza redevelopment - 330 South 12th St

Postby seanrichardryan » January 31st, 2017, 7:59 pm

Q. What, what? A. In da butt.

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Re: Century Plaza redevelopment - 330 South 12th St

Postby grant1simons2 » January 31st, 2017, 8:14 pm

I really hope the future developer doesn't build a single building in the same mass as this one. Split it up. Build like, 3 separate buildings, each with an active ground floor and varying materials. But hey, maybe that's too much to ask for.

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Re: Century Plaza redevelopment - 330 South 12th St

Postby nordeast homer » February 1st, 2017, 10:37 am

twincitizen wrote:
January 31st, 2017, 6:41 pm


Note: for archived discussion of this site (mostly a bunch of rumoring about a fake convention hotel, but also interesting conversations), see here: viewtopic.php?f=13&t=407
I'm not sure how fake it was? There were studies done on developing a hotel on the site. In the end the conclusion was that a hotel was not needed, but that doesn't mean it was fake.

I'd love to see something like Grant Park here, but I know it's a pipe dream... We'll be lucky to see Maverick...

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Re: Century Plaza redevelopment - 330 South 12th St

Postby jtoemke » February 1st, 2017, 10:38 am

grant1simons2 wrote:
January 31st, 2017, 8:14 pm
I really hope the future developer doesn't build a single building in the same mass as this one. Split it up. Build like, 3 separate buildings, each with an active ground floor and varying materials. But hey, maybe that's too much to ask for.
So basically, be Kraus Anderson

grant1simons2
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Re: Century Plaza redevelopment - 330 South 12th St

Postby grant1simons2 » February 1st, 2017, 10:41 am

But not the same developer for each building.

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Re: Century Plaza redevelopment - 330 South 12th St

Postby EOst » February 1st, 2017, 10:57 am

twincitizen wrote:
January 31st, 2017, 6:41 pm
The building does not currently have any historic designation, but that doesn't mean the HPC couldn't try to block a demo.
I'm not certain that they could block a demo if they wanted to. The study linked at the end of that article makes a pretty compelling case that the building has been too heavily modified to meet the requirements for designation on the basis of its Moderne design, which is necessary because the building doesn't really have any hard historical significance. That might cut it off from the historic tax credits you'd need to do the project, and even if it didn't the exterior requirements of those credits would be very expensive.

I love this building personally, and if someone could pull off a real historic restoration (replace the windows/mullions, demo those faux-historic portes cocheres, etc.) it could be a really handsome residential building, a little like the old insurance building on Loring Park. You could even put in some retail space at the corner of 3rd and 11th, either on the ground floor or below grade, which was apparently originally intended to be a public cafe. That's the only corner that receives significant foot traffic anyway.

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Nathan
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Re: Century Plaza redevelopment - 330 South 12th St

Postby Nathan » February 1st, 2017, 1:22 pm

Yeah I think this could be a really good opportunity for renovation without having to completely honor it historically. Like a great opportunity for pop up floors or a tower on top of a really beautiful existing base etc etc

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Re: Century Plaza redevelopment - 330 South 12th St

Postby twincitizen » February 1st, 2017, 3:47 pm

Financially speaking, it seems unlikely that the building would be torn down for an insignificant development. Meaning, the cost of acquisition and demolition are probably high enough that it would not pencil out to simply put up a 6-story stick building here. The only way the math might work on that is if the county practically gave it away. If the building were to be torn down, the replacement would probably have to be something quite large to make it work. I think this points toward a rehab of the existing structure.

Here's a catch 22 situation with the parking... if it were to be redeveloped as residential (or hotel) with double loaded corridors, they'd have to remove the parking deck in the "donut hole", in order to get windows on a central courtyard, right? But then it wouldn't have any covered parking, making it harder to attract financing (or tenants). That could work for a hotel, which could valet to Leamington ramp, but not so much for residential. I guess there are ~25 spaces in that surface lot...not sure if that will remain (nor would it be very attractive to high-end renters)

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Re: Century Plaza redevelopment - 330 South 12th St

Postby MNdible » February 1st, 2017, 4:08 pm

Aerials suggest that this building used to be a donut that was infilled at some point. Removing the infill would give it nice shallow floor plates that would probably work great for a hotel. Just a thought.

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Re: Century Plaza redevelopment - 330 South 12th St

Postby seanrichardryan » February 1st, 2017, 5:49 pm

They built out a theater in the courtyard for the school, which was replaced with parking when it was redeveloped in the late 80s.
https://www.facebook.com/MinneapolisVoc ... =3&theater
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Nathan
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Re: Century Plaza redevelopment - 330 South 12th St

Postby Nathan » February 1st, 2017, 6:10 pm

Does anyone know if there is a basement that could pencil out for parking a la 430 Oak Grove on Loring park?

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Re: Century Plaza redevelopment - 330 South 12th St

Postby bapster2006 » February 7th, 2017, 10:19 pm

Yes, the middle part of the lower level is already parking. The rest is storage, workstations, and utility stuff. Even if you made the entire lower level parking it would only equal about a fourth of the existing parking ramp.

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Re: Century Plaza redevelopment - 330 South 12th St

Postby twincitizen » May 11th, 2017, 8:08 am

Century Plaza closes tomorrow: http://www.startribune.com/friday-is-la ... 421872593/

County expects to make a decision on the sale of the building in June.

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Re: Century Plaza redevelopment - 330 South 12th St

Postby grant1simons2 » May 23rd, 2017, 7:50 pm

Huge let down.

http://m.startribune.com/developer-pitc ... 423965703/

Flexible space. Otherwise known as, being used 9-5 with no activation otherwise.

Meanwhile the same developer is planning a tower in Milwaukee. So F us, right?

http://www.jsonline.com/story/money/rea ... /97706838/

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Re: Century Plaza redevelopment - 330 South 12th St

Postby spearson » May 24th, 2017, 2:40 pm

I don't really see this as a huge letdown, this is a nice looking usable building.

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Re: Century Plaza redevelopment - 330 South 12th St

Postby David Greene » May 24th, 2017, 2:43 pm

Agreed, not a let down at all. This is on the edge of downtown and is a solid building. Downtown needs non-class-A office space too.

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VacantLuxuries
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Re: Century Plaza redevelopment - 330 South 12th St

Postby VacantLuxuries » May 24th, 2017, 2:59 pm

Besides, there's still a giant, unused surface lot in that area. Maybe this renovation will kickstart some interest in building something bigger there.

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Re: Century Plaza redevelopment - 330 South 12th St

Postby grrdanko » May 24th, 2017, 7:15 pm

VacantLuxuries wrote:
May 24th, 2017, 2:59 pm
Besides, there's still a giant, unused surface lot in that area. Maybe this renovation will kickstart some interest in building something bigger there.

That lot is for sale along with the now vacant Christian Scientist Church building.


http://www.bizjournals.com/twincities/b ... -sale.html

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Re: Century Plaza redevelopment - 330 South 12th St

Postby mplsjaromir » May 25th, 2017, 5:03 am

Does anyone remember the rendering of this area a few years back with that Sim City 2000 Arcology lookin hotel? Maybe, the time is now.


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