Plans Progress for Former Jaguar Site in Downtown
Redevelopment plans for the former home of a Jaguar dealership in downtown Minneapolis appear to be moving forward.
Plans for the site, which is located at 222 Hennepin Avenue, call for a large apartment complex and a grocery store, according to a report by Finance & Commerce.
An agenda for a meeting of the Committee of the Whole of the Minneapolis Planning Commission reportedly included a single sentence describing the plans as a six-story, 252-unit, mixed-use property containing luxury apartments and a 37,500-square-foot grocery store.
The meetings are designed for developers to have informal talks with planning commissioners prior to submitting formal plans to the city. The next Committee of the Whole meeting is scheduled for August 4.
A representative for Minneapolis-based Ryan Companies-which has a joint venture deal with Minneapolis-based Excelsior Group to redevelop the site-told Finance & Commerce that the number of apartment units and the size of the grocery store are still being refined, and he declined to disclose which grocery store is expected to occupy the space. He said, however, that the grocery store will be the only retail space at the site.
Finance & Commerce notes that the plans resemble the ones originally laid out in 2005, when an affiliate of Seattle-based Milliken Development Group paid $14 million for the site and intended to build a 290-unit condo tower anchored by a Whole Foods grocery store. After the condo market collapsed, the Milliken group reportedly tried other concepts for the site but ultimately lost the property to its lender.
Read the entire Finance & Commerce story here.