Star Tribune officially closes on its stadium district land sale

The Star Tribune building earlier this year. MPR Photo Tim Nelson

The Strib’s Janet Moore reports her paper has officially closed on the deal to sell five blocks of downtown Minneapolis to developer Ryan Cos. for a planned $400 million development, including a massive new Wells Fargo office complex covering two city blocks.

Plans also call for a nearly two-block public park, bounded by Park and 5th Avenues, between 4th and 5th streets. A parking ramp for the Vikings stadium, with either an apartment or hotel tower on top of it, will fill the fifth block of the property.

The sale marks the completion of a deal that’s been in the works for more than two years, according to an interview with then-mayor R.T. Rybak in the December issue of Minneapolis St. Paul magazine. Ground is tentatively scheduled to be broken in April, and the project completed in early 2016, shortly before the new Vikings stadium is set to open in July of that year.

  • Saint Paul listener

    Throughout the whole controversy over site selection for the Vikings stadium, the Star-Tribune covered the story as though they were a disinterested party. Now they are realizing profits on land that increased in value because of it’s proximity to the new stadium. Someone needs to look into the behind-the-scenes role of the Star-Tribune in the whole process of deciding whether or not to build a stadium and where to put it if it was built. Given their vested interest in the outcome, there is reason to consider the journalistic ethics of their coverage. Something smells rotten to me.