New 36-story Mpls. skyscraper wins tentative approval
A new 36-story skyscraper could rise out of what is now a surface parking lot in downtown Minneapolis under a proposal that won tentative approval from the city Friday.
Four companies submitted proposals for buying and developing the city-owned site, which is bounded by Third Street South, Washington Avenue, Hennepin Avenue and Nicollet Mall. A city-appointed review team studied the plans and recommended selling the land to United Properties. Its proposed tower would include a Hilton hotel alongside retail, restaurants and up to 300 residential units.
Minneapolis Mayor Betsy Hodges says the tower would help transform the north end of Nicollet Mall.
"This project is going to create a new reality where we've had a void," Hodges said. "It's going to be a worthy addition to the destination we are creating with our new Nicollet Mall."
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The developer will present its plan at a public meeting on Monday, and the Minneapolis City Council will vote on it in April.
A news release from the city said the United Properties proposal was the best fit for its development goals and offered the best price for the land, though details won't be released until after the process is complete. United Properties is owned by the Pohlad family, which also owns the Minnesota Twins.
The other bids the city received came from Mortenson, Doran Development and Duval Development.
Duval had proposed building an 80-story building, which would have dwarfed the IDS Center. City staff rejected that proposal last month amid doubts over the developer's financial wherewithal to deliver on the ambitious plan.
The block has been vacant since the 1990s, but it was once home to the stately, 18-story Nicollet Hotel.