urbanMSP

Deal for IDS falls apart, building will not be sold (for now)

I love this quote from the article: "As we come to the end of the marketing process for the IDS Center, we have decided to hold on to this iconic asset," Jeff Manno, vice president of transactions for Inland American, said in a statement "This is a great property. There isn't and never was an urgency to sell this property, and we continue to believe in its strength in the Minneapolis marketplace."......Ah , the power of truly great architecture! The IDS continues to be our best retail /office/hotel complex in Minneapolis after 40 years!

Me thinks the real reason was the reported sale price was only for $260 million (though probably not what would've been the final price). Inland paid $278 million for it for it six years ago and has spent millions more in upgrades for LEED certification. The price probably wasn't what they were expecting.

Me thinks the real reason was the reported sale price was only for $260 million (though probably not what would've been the final price). Inland paid $278 million for it for it six years ago and has spent millions more in upgrades for LEED certification. The price probably wasn't what they were expecting.

Yes, that maybe is true, but I bet it's still a good invetsment for them and they make revenue off the complex. The problem is the "Great Recession" which has devalued everything in real estate.

Article on BizJournal today - The new owners are planning some updates it seems. One of them though makes me sick: The white light bulbs that define the edge of the skyway level could get replaced with some kind of electronic signage.

Also a mention of possibly booting some banks out of the skyway level.

http://www.bizjournals.com/twincities/b ... raper.html

well, the electronic signage might be bad....but the light bulbs are a little cheesy...outdated....

This is the news I'm excited about:

Its also possible some of the space leased to banks could eventually get turned over to retailers that could attract more evening and week-end visitors.

The current lighting on top looks cheap. I'm sure that whatever they do will be better.

Article on BizJournal today - The new owners are planning some updates it seems. One of them though makes me sick: The white light bulbs that define the edge of the skyway level could get replaced with some kind of electronic signage.
...

Uh oh. I don't like that at all, either.

The new owners need to be careful with any updates that don't respect the architecture. I don't think the community will look too kindly on them if they do something cheesy and assaultive to the skyway design. I do like the owners idea of increasing retail in the complex and moving away from having three bank branches take up space.

I have always loved the railing height, the lights and the little bit of padding so its comfortable as you lean out looking over the court. Don't change it.

^^^ Agreed ^^^

Article on BizJournal today - The new owners are planning some updates it seems. One of them though makes me sick: The white light bulbs that define the edge of the skyway level could get replaced with some kind of electronic signage.
...

Uh oh. I don't like that at all, either.

I don't either. The round bulbs in the Crystal Court are (I think) supposed to be the same as the round white bulbs along the top of the building... which got Ted Turnerized anyway. I know most people would say who cares, but that's the level of detail that I'm sure wasn't an accident in Johnson's design and I personally don't want it dicked around with.

I think it's very unfortunate that they replaced the large white bulbs on the top with LEDs. It just looks tacky.

I think it's very unfortunate that they replaced the large white bulbs on the top with LEDs. It just looks tacky.

I don't understand why people think this about the new upgraded lighting. What can be so tacky about it?? The default color of warm white is exactly the same color as the old more energy consuming bulbs. It's great to have them updated to energy saving LED bulbs which is standard at this time. I enjoy seeing the different colors for holidays, events and seasons used. I've wanted many more dates to be used than they have and am upset it hasn't been used more often. Why wouldn't you want to see different colors to celebrate different times of the year? Having everything white on every building is just plain and stupid. The Minneapolis skyline is the greatest in the world. I love the variety of buildings and the colors on them. Capella Tower is most likely going to be updated with LED lights and have colors used in the near future also. I film the skyline every single night of the year, so I appreciate the variety that is used.

^That. My biggest gripe with the nightlighting on the skyline is that it mostly shuts down at midnight. I understand that it's for energy efficiency, but I really wish they would stay on until bar close, at least on weekends.

Why wouldn't you want to see different colors to celebrate different times of the year?

Because we have Hallmark cards for that. And Target HQ.

I'm all for LEDs for energy efficiency. I am against splashes of colored lights on old buildings. It's fine at Target... it was designed for that. But yellowish white light is classy.

We are talking about the lights on the skyway level though, right? Not on top?

Can somebody post a picture of what these are referring to. I thought the rooftop lights already changed color.

Not the greatest picture, but all the lights along the second level, and stairs.

Interesting. Thanks for the picture.