Construction and real estate company Mortenson has been appointed to head up a redevelopment project near the yet-to-be-completed Allianz Field in Saint Paul, Minnesota, in the US.
The initiative will include transforming a 25-acre site owned by RD Management for office, retail, entertainment, hospitality and residential use.
The City of Saint Paul has already given its approval to work at the site, which is located at the intersection of Snelling and University Avenues in the Midway area of the city.
Midway is undergoing major change, with work on the new Allianz Field (pictured) now 50 percent complete. The $250m (€213.7m/£188.1m) facility will serve as home to Minnesota United, a Major League Soccer team that currently plays at the TCF Bank Stadium.
Jeremy Jacobs, director of real estate development at Mortenson, said: “Urban redevelopment opportunities of this scale are rare. Rarer is the case that a redevelopment is kick-started by a $250m professional sports stadium.
“In these exceptional situations, our development experience at the intersection of sports and entertainment tells us that powerful new opportunities are in store for the Snelling-Midway area.”
Richard Birdoff, principal at RD Management and owner of the property for over 25 years, added: “Great future developments will be linked to transportation-supported locations that foster accessibility, higher densities, and interesting amenities for businesses, residents and visitors.
“The Midway is centrally located in a dynamic and growing community that offers a great foundation for future enhancements.
“We are pleased to be part of this exciting redevelopment effort in such a great community, and are particularly excited that Mortenson is leading the efforts.”
IMAGE: Minnesota United