Rumors: A Historical Record of Mystery

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grant1simons2
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Re: Rumors!

Postby grant1simons2 » July 23rd, 2014, 2:00 pm

Hnnnggg I wanna render another tower!

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Silophant
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Re: Rumors!

Postby Silophant » July 23rd, 2014, 2:28 pm

Avian wrote:Furthermore....
Texas RE;115934183[i wrote:] Just about every city in the US wished they had an opportunity like this in their own city, my hometown of Dallas included. Downtown Dallas streets are empty, even during the daytime office hrs. compared to downtown Minneapolis. I believe too many Minneapolitans don't realize just how fabulous your city is & how many people admire your city.[/i]
I'm saving this and quoting it on every future Streets.mn post that complains about the skyways.

David Greene
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Re: Rumors!

Postby David Greene » July 23rd, 2014, 8:16 pm

Avian wrote:
Texas RE;115934183[i wrote:]Just about every city in the US wished they had an opportunity like this in their own city, my hometown of Dallas included. Downtown Dallas streets are empty, even during the daytime office hrs. compared to downtown Minneapolis./i]
That is absolutely true. My first time in downtown Dallas a couple of years ago, I was shocked at how dead the streets were in the middle of a weekday. It wasn't much better just outside downtown where the ethnic/foodie restaurants are.
Last edited by David Greene on July 23rd, 2014, 9:07 pm, edited 1 time in total.

Minneboy
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Re: Rumors!

Postby Minneboy » July 23rd, 2014, 8:55 pm

Downtown Dallas was like that 30 years ago as well. Though it does have some great architecture.

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grant1simons2
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Re: Rumors!

Postby grant1simons2 » July 23rd, 2014, 9:28 pm

I was shocked to see how alive Minneapolis downtown was at 5:00 on a Tuesday. I've only been downtown on weekends or holidays

John
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Re: Rumors!

Postby John » July 23rd, 2014, 10:03 pm

^^^The lively Farmer's Market on Nicollet Mall (on Thursdays around lunchtime) is Minneapolis at it's best as far as pedestrian activity in downtown during the summer.

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Avian
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Re: Rumors!

Postby Avian » July 24th, 2014, 12:22 am

And one more regarding the Opus/Ritz block...

[QUOTE=Texas RE;115933895]...The hotel-condo tower could be developed by the hotel developer themselves, leaving the retail center connecting the 2 towers & the office tower for Opus to develop. It lessens the risk for Opus, increases the potential for the entire site, that in turn increases value because of a lucrative hotel operator will attract better office tenants. Smaller cash-rich tenants such as finance firms, like venture capitalists, financiers, hedge funds, mutual funds and the like. New law firms that are interested in entering the Twin City marketplace, too. Also, some pride & ego do play a part in the decision process, it always happens with such valuable property like the Ritz block.[/QUOTE]

It seems to be in Opus' hands. Will this will be a new crown jewel for downtown Minneapolis or be a snoozer of a development? Will the company follow Gerry Rauenhorst's visions or will it become a timid developer that shies away from great things?
Last edited by Avian on July 24th, 2014, 10:10 am, edited 1 time in total.

“Wise men speak because they have something to say; fools because they have to say something.”
― Plato

mplsjaromir
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Re: Rumors!

Postby mplsjaromir » July 24th, 2014, 7:43 am

Hmmm...there is around 2.93 million square feet of office space on the market in the what one could call the CBD (south of Washington, north of 11th, west of Hennepin, east of 4th Ave S) including 103,000 sq ft. available a block away from the Ritz property. What is the retail vacancy rate downtown anyway? 30%? That said, I would consider myself bullish on residential, mixed on hospitality and bearish on office development.

Nationwide even coastal market have a difficult time finding tenants to fill existing office space, more accurately new office space is not being offered in desirable areas. LA Office Market 1 WTC first private tenant

Given what we have seen from Medtronic I would say that one's stock price, not one's address is where executives derive their pride and measure their ego.

mullen
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Re: Rumors!

Postby mullen » July 24th, 2014, 8:00 am

as much as i like skyscrapers i don't know if it's enough to accept a "trump tower minneapolis" lol you see the fight he's having in chicago to plaster his name on a tower there.

ECtransplant
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Re: Rumors!

Postby ECtransplant » July 24th, 2014, 8:14 am

It would fit right in over in St. Paul though

Chava
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Re: Rumors!

Postby Chava » July 24th, 2014, 8:32 am

mullen wrote:as much as i like skyscrapers i don't know if it's enough to accept a "trump tower minneapolis" lol you see the fight he's having in chicago to plaster his name on a tower there.
Let's not use that as an example. I will LOL with you though! That could have been easily avoided early in the process had they tightened the sign restrictions. I Invite big bold guys like that. There is no greatness in timidity or settling!

John
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Re: Rumors!

Postby John » July 24th, 2014, 8:36 am

In a way I wish the Ritz block was subdivided and owned by several different stakeholders. Part of the issue with this site is it's too large for one developer to do something dense and vertical. Opus is probably going to create more of a sprawling project with squat buildings to fill it up. The biggest concern is the Nicollet Mall side which really needs some fresh retail space and tenants that will make it more of a shopping destination and enhance pedestrian activity. The reality is Opus will probably build a token restaurant at the street level with a parking ramp above as their contribution. Minneapolis is such a wasteful city when it comes to maximizing land use in the urban core.

mullen
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Re: Rumors!

Postby mullen » July 24th, 2014, 9:50 am

yea it's all good i just find donald trump an insufferable boob. if he wants to spend money in our downtown though and pay property tax, spend away.

min-chi-cbus
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Re: Rumors!

Postby min-chi-cbus » July 24th, 2014, 10:45 am

Chava wrote:
mullen wrote:as much as i like skyscrapers i don't know if it's enough to accept a "trump tower minneapolis" lol you see the fight he's having in chicago to plaster his name on a tower there.
Let's not use that as an example. I will LOL with you though! That could have been easily avoided early in the process had they tightened the sign restrictions. I Invite big bold guys like that. There is no greatness in timidity or settling!
Tell that to Warren Buffet!

twincitizen
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Re: Rumors!

Postby twincitizen » July 24th, 2014, 10:58 am

John wrote:In a way I wish the Ritz block was subdivided and owned by several different stakeholders. Part of the issue with this site is it's too large for one developer to do something dense and vertical. Opus is probably going to create more of a sprawling project with squat buildings to fill it up. The biggest concern is the Nicollet Mall side which really needs some fresh retail space and tenants that will make it more of a shopping destination and enhance pedestrian activity. The reality is Opus will probably build a token restaurant at the street level with a parking ramp above as their contribution. Minneapolis is such a wasteful city when it comes to maximizing land use in the urban core.

Nothing says they have to develop the entire block at once either. They've been sitting on this property for what, 25-30 years? It would be totally reasonable to develop in phases and continue to pay limited property taxes on the remaining vacant parcels (they would have to re-plat the land into multiple parcels to take advantage of the lower taxes on vacant land)

MS3

Re: Rumors!

Postby MS3 » August 6th, 2014, 9:23 pm

A new proposal for a 42 story residential tower may be proposed soon..

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grant1simons2
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Re: Rumors!

Postby grant1simons2 » August 6th, 2014, 9:25 pm

Location?

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Anondson
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Re: Rumors!

Postby Anondson » August 6th, 2014, 9:30 pm

Or at least a block or neighborhood?

MS3

Re: Rumors!

Postby MS3 » August 6th, 2014, 9:39 pm

Not sure where but I saw the renderings and I counted 40 stories. Developer is Alatus? Humphreys and partners is the architect I think.

MS3

Re: Rumors!

Postby MS3 » August 6th, 2014, 9:43 pm

Oh and the height is 440'


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