As Radisson Blu Opens In Mpls, Plans Fizzle For Radisson Red
Minnetonka-based Carlson is planning a grand opening on Monday for downtown Minneapolis' first-ever Radisson Blu, a 360-room luxury hotel that replaced the former Radisson Plaza.
Meanwhile, the $400 million redevelopment of Minneapolis’ Downtown East neighborhood no longer includes plans for the city’s first Radisson Red luxury hotel.
Radisson Red, which has been described as a “select-service” concept that emphasizes technology services, is one of Minnetonka-based Carlson’s new hotel brands. Downtown Minneapolis was expected to see its first Radisson Red as part of Ryan Companies' large, mixed-use development, which also includes two office towers for Wells Fargo, about 200 apartments, restaurant and retail space, and a public park. (Read more about Ryan’s larger plan for Downtown East and the behind-the-scenes story of how the deal came together here.)
Earlier this year, Ryan won “air rights” to develop the space above a parking ramp near the Vikings stadium site, and it planned to add apartments plus the new 150-room Radisson Red hotel. That plan would've created a 27-story tower.
But now, the fate of that tower is unclear, as the hotel portion is no longer part of the plan. A Ryan representative told the Star Tribune that the company's development team “has worked very intensely over the last few months to try and reconcile the cost of a hotel and apartment project together in one large tower.”
“Ultimately, we determined we could not deliver the project based on the required budget,” he told the Minneapolis newspaper. It remains unclear what will happen to the apartment component of the project above the parking ramp.
A Carlson official, meanwhile, told the Star Tribune that his company expects to “secure other development opportunities in downtown Minneapolis including the potential of other sites near Downtown East that will support a Radisson Red hotel project.”