Proposals were due this week for what to build atop a new parking ramp to be built near the new Vikings stadium, just east of the proposed twin towers of Wells Fargo, already on the drawing board.
The Minneapolis-St. Paul Business Journal’s Sam Black says the two development behemoths on either side of the site are bidding for the project. Ryan Cos., which is building the new Wells Fargo campus, and Mortenson, which is building the Vikings stadium. Black reports:
Minneapolis-based Ryan pitched a $104 million, 28-story apartment tower with 282 units and street-level retail or restaurant space.
Golden Valley-based Mortenson pitched a $63 million, 300-room hotel project dual-branded as AC by Marriot and SpringHill Suites by Marriott. Mortenson is working with at least one hotel development partner.
As part of the three-way development deal signed last year, the city of Minneapolis gets the air rights over the new stadium parking ramp, and can sell them off for what then-mayor R.T. Rybak called “potentially one of the great marquee tower sites that this city will ever have.” He said “it will be an icon on the skyline.”
The city is expected to mull over the plans this month and pick a project in March.