Value of land at new Vikings stadium site overstated, says public board

Martin Moylan
ST. PAUL, Minn.
Vikings Stadium
HKS Architects released this rendering of their vision for Minnesota's new NFL stadium. Part fluoroplastic, part Viking sailing ship, it gives an angular nod to other Minneapolis landmarks like the Walker Art Center and the Guthrie Theater. Although it won't have a retractable roof, the south half of the roof will be sheathed in a transparent polymer made famous by the glowing exterior of the Bejing National Aquatics Center from the 2008 Olympics. The north half of the roof will be conventional "hard deck" roofing, and fans inside will be able to see the sky year round, without sitting out in wintry weather.
Photo courtesy of HKS Architects

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The owner of a block of land that could be part of the new Vikings stadium project is wildly overstating the property's value, according to the board overseeing the project.

The property includes an underground parking garage and the plaza outside the Metrodome that has been used for game-related events.

$13 million is a fair price for the parcel, said Michele Kelm-Helgen, chairwoman of the Minnesota Sports Facilities Authority.

"The property owners are saying they believe the property is worth $24 to $26 million. We think this is a very inflated price and we really couldn't spend public money to purchase it."

The property's owner, Minneapolis Ventures LLC, says any price should reflect the development potential of the parcel. It is seeking a court ruling about its development rights, obligation to provide public access to the site and other matters. The firm contends it doesn't have to allow public use of the plaza.

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