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DEED Awards Ten new Redevelopment Grants

St. Paul – The Minnesota Department of Employment and Economic Development (DEED) awarded nearly $3.8 million to redevelop 10 sites in eight different cities throughout Minnesota.

Redevelopment projects made possible through the grants are expected to create 141 new jobs and retain 440 jobs while providing more than 400 new housing units.

“The redevelopment projects will be important drivers for community economic development as Minnesota recovers from the COVID-19 pandemic’s impact over the coming months,” said DEED Commissioner Steve Grove. “These grants will spark private investment and create new opportunities for industrial, commercial and housing development while creating new jobs and increasing the tax base for these communities.”

The Redevelopment Grant Program helps communities with the cost of redeveloping blighted industrial, residential or commercial sites. Grants pay up to half the redevelopment costs for a qualifying site, with a minimum 50% local match required.

The program statute has specific criteria to rank projects including the redevelopment potential within the municipality, the overall need, readiness of the proposed project, the increase in tax base for the community, and the number of jobs created and retained.

Since its creation in 1998, the Redevelopment Grant Program has made 204 grant awards, which have helped fund projects that created or retained more than 28,000 jobs and generated nearly $48 million in tax revenue.

Details for projects being announced today are as follows:

Le Sueur EDA – Valley Green Square Mall

The Le Sueur Economic Development Authority (EDA) is awarded $856,689 in Redevelopment Grant funds for demolition and infrastructure improvements on this 3.24-acre site. The current shopping mall will be partially demolished and redeveloped into a mixed-use building with 47,900 square feet of retail space and 15,000 square feet for 14 apartments. Additionally, the redevelopment will allow for the reconnection of Main Street that was disrupted by the construction of the mall in 1975. The project is anticipated to retain 22 jobs and increase the tax base by $25,270. Matching costs will be paid by the Le Sueur EDA and tax increment financing.

Local contact – Samantha DiMaggio (507) 593-8318

Mankato – Sibley Parkway Winery

The city of Mankato is awarded $202,394 in Redevelopment Grant funds for demolition and infrastructure improvements on this 16.23-acre site. Historically used by concrete companies, this site will be redeveloped into a two-story, 7,800 square foot wine production facility with associated commercial and food sales. The project is anticipated to create 18 jobs and increase the tax base by $13,862. Matching funds will be paid by the developer.

Local contact – Kristin Prososki (507) 387-8687

Minneapolis – Lake Street Housing Phase II

The city of Minneapolis is awarded $250,061 in Redevelopment Grant funds for demolition, asbestos abatement, and infrastructure improvements on this 0.52-acre site. Currently occupied by a commercial building, this site will be redeveloped into a seven-story, mixed-use building with 131 apartments, 1,000 square feet of commercial space, and underground parking. The project is anticipated to create eight jobs and increase the tax base by $407,808. Matching funds will be provided by the developer.

Local Contact – Kevin Carroll (612) 673-5181

Minneapolis – Leef South Lot

The city of Minneapolis is awarded $416,500 in Redevelopment Grant funds to mitigate unstable soils on this 1.17-acre site. Formerly part of the Leef Brothers commercial laundry facility, this site will be redeveloped into a five-story building offering 100,000 square feet of office space. The project is anticipated to create 40 jobs, retain 360 jobs, and increase the tax base by $577,652. Matching funds will be paid by the developer.

Local contact – Kevin Carroll (612) 673-5181

Minneapolis – Former Harvest States

The city of Minneapolis is awarded $453,867 in Redevelopment Grant funds for demolition and infrastructure improvements on this 0.77-acre site. Currently occupied by a grain elevator complex, the eight buildings and 18 silos will be redeveloped into a brewery and up to 10 commercial spaces. The project is anticipated to create 12 jobs, retain one job, and increase the tax base by $93,381. Matching funds will be paid by the developer.

Local contact – Kevin Carroll (612) 673-5181

Minnetonka – Shady Oak Crossing

The city of Minnetonka is awarded $246,652 in Redevelopment Grant funds for demolition, asbestos abatement, and infrastructure improvements on this 1.94-acre site. The recently vacated strip mall will be redeveloped into a residential building offering 52 market-rate and 23 affordable apartments with underground parking. The project is anticipated to create two jobs and increase the tax base by $185,378. Matching costs will be paid with tax increment financing.

Local contact – Alisha Gray (952) 939-8235

Owatonna – Proposed Eastgate Apartments

The city of Owatonna is awarded $138,775 in Redevelopment Grant funds for asbestos abatement, demolition, soil stabilization, and infrastructure improvements on this 1.25-acre site. Currently occupied by two single-family homes and a former bus garage, this site will be redeveloped into a 36-unit affordable apartment building. The project is anticipated to create one job and increase the tax base by $28,082. Matching funds will be paid with tax increment financing.

Local contact – Troy Klecker (507) 774-7316

Rosemount – The Morrison

The city of Rosemount is awarded $519,821 in Redevelopment Grant funds for demolition and infrastructure improvements on this 2.66-acre site. The site currently houses a 1960s mall and a bar/restaurant. This site will be redeveloped into a four-story, 124-unit market-rate apartment complex. The project is anticipated to create five jobs and increase the tax base by $245,554. Matching funds will be paid by the developer and other potential grant sources.

Local Contact – Kim Lindquist (651) 322-2020

St. Cloud EDA – Gateway Motel Redevelopment

The St. Cloud Economic Development Authority is awarded $115,647 in Redevelopment Grant funds for demolition, asbestos abatement, and infrastructure improvements on this 0.92-acre site. The current 35-unit motel will be redeveloped into a 5,200 square foot, three-tenant commercial building. The project is anticipated to create 26 new jobs and increase the tax base by $9,178. Matching costs will be paid with tax increment financing.

Local contact – Cathy Mehelich (320) 650-3111

St. Paul – Northwest University Dale

The city of St. Paul is awarded $598,000 in Redevelopment Grant funds for demolition and infrastructure improvements on this 1.1-acre site. Currently occupied by three commercial buildings and two single-family homes, this site will be redeveloped with a renovation of one building and construction of a five-story, mixed-use building with 12,100 square feet of office space, 9,000 square feet of retail space, and 40 affordable apartments. The project is anticipated to create 29 jobs, retain 57 jobs, and increase the tax base by $51,526. Matching costs will be paid by the Metropolitan Council and the developer.

Local contact – Dan Bayers (651) 266-6685

DEED is the state’s principal economic development agency, promoting business recruitment, expansion and retention, workforce development, international trade and community development. For more details about the agency and its services visit the DEED website or follow DEED on Twitter.