DTE: Wells Fargo, Radisson Red, Edition Apts & Millwright Building

[min-chi-cbus]

For lots of human activity, one word: "Retail"!

[trkaiser]

For lots of human activity, one word: "Retail"!

Couldn't agree more on the need for destination retail in the area. Check out this short video from Related on the topic: https://www.youtube.com/watch?v=g_QZbjBa7qc

If you're interested, the Hudson Yards YouTube channel has a lot of excellent videos about Hudson Yards and modern placemaking, some as long as an hour long. I've watched 'em all, and think a lot of you would enjoy. I can't imagine how deals this big can be assembled with so many logistical, legal and governmental challenges. Kinda puts the Ryan proposal in perspective...

[twincitizen]

http://finance-commerce.com/2013/06/fir ... yans-plan/

First Big Hurdle Coming for Ryan's Plan

[writruth]

https://www.youtube.com/watch?v=rWz7IC5s3dQ
‪https://www.youtube.com/watch?v=g_QZbjBa7qc

I've included two links to what I consider amazing, world-class, downtown-defining development proposals: The first is the breathtaking Etihad Towers, located in Abu Dhabi; The other is the Hudson Yards project previously listed.

I'm awestruck by the scale, majesty and vision of each of the two designs and how completely they outpace any of the renderings emanating from our insular Twin Cities design community. Aside from the new downtown stadium, the MOA and perhaps the apartment tower now under construction in Loring Park, as a development community, locally there seems to exist a dogged reticence to build anything beyond a very measured scope.

Dynamic scale has long been the kryptonite to downtown Minneapolis skyscraper development. For scores of years, no building has dared to surpass the height-superiority of our venerable IDS Tower. Certainly, there are legitimate questions whether the downtown market could/would support a massive Etihad Towers or Hudson Yards-style, mixed-use, residential complex, with self-contained, multiple floors of retail, hospitality and entertainment. The strange thing is, we never are offered such visionary concepts to ponder.

Seattle is building it's newest tallest downtown tower, as is Los Angeles, Chicago, New York, Dallas etc. Why not Minneapolis. We are a major global market, with destination medical facilities, world-class universities and research communities that have empowered us to lead the national economic recovery.

Image the desirability of a modern, signature, high-rise, mixed-use complex, like Etiahd Towers, within skyway-walking distance or a short LRT ride from your job. Make it large enough and tall enough to build in a world-class grade school, after-school care, grocery, retail, hotel. Include in the design concept a 70-plus story Target Corp. or United Health, H.Q. tower, dining options and a multiscreen cinema. In exchange for development rights, require builders to include a percentage of mixed-income housing to prevent it from becoming the exclusive province of the financial elite. Imagine the efficiency, time savings of residing in this type of sustainable lifestyle development in the core of downtown Minneapolis. Imagine the global marketing opportunities construction of such a complex would provide.

As we look to grow the Downtown population in the next decade and beyond, it would be wise for builders to set their sights skyward. Doing so would add the type of synergy, street presence, and vitality necessary to make the new downtown neighborhoods safe and functional. In this new global economy, the creative class will be drawn to cities that succeed in offering the vibrancy of modern, sustainable, fully-rounded lifestyles and the intellectual incubators that fuel future breakthrough development.

And, as Bloomington's MOA prepares to double in size, and Rochester plans a $5 billion expansion of it's destination medical facilities, Minneapolis must invest massively and grow to maintain it's regional economic hegemony. Minneapolis is endowed with extraordinary assets but must continue to build on it's progressive design legacy and grow vertically to remain competitively at the razor's edge.

[min-chi-cbus]

I didn't know about new tallests for Seattle, Dallas, etc.....For Minneapolis to get a new tallest there needs to be a corporation that is looking for 2+ million SF of Class A space, or a collaboration of companies and mixed uses. Is MInneapolis to subsidize this project too? I can see the outrage from the residents now. Maybe in several years the city could try this but right now it seems unlikely.

[mattaudio]

Re: new tallest-
Kunstler would not approve.

[MNdible]

All of the Middle East projects are driven by a gross excess of capital and ego, rather than by any actual demand.

The New York project is driven by the very unique situation on the ground in Manhattan.

Neither of these situations are translatable to Minneapolis, unless you can find a local billionaire interested in frittering away their wealth.* Buildings in markets like ours are driven by actual demand -- perhaps, if the vacancy rates continue to tighten, we could see an true speculative project, but even then, the finances still need to pencil out. Until then, projects will be dictated by the real needs of real end users, and by the rents they're willing to pay.

* I do believe there is a role to be played by wealth and ego. Seattle is currently reaping the benefits of this potent combination, albeit at a smaller scale than the Middle East projects.

[FISHMANPET]

Seattle also has insane demand from Amazon. I remember reading a few months ago that Seattle was going to need the equivalent of 17 or so Columbia Towers of new office space in the coming decade or so.

[writruth]

It will be interesting to see whether the multi-billion-dollar oil boom in North Dakota will spur spill-over office tower demand in downtown Minneapolis and whether the City's hospitality industry will see a spike in demand for more hotel rooms as the City attempts to attract the well-paid, oil-industry employees to what could become a burgeoning weekend getaway destination.

[min-chi-cbus]

It will be interesting to see whether the multi-billion-dollar oil boom in North Dakota will spur spill-over office tower demand in downtown Minneapolis and whether the City's hospitality industry will see a spike in demand for more hotel rooms as the City attempts to attract the well-paid, oil-industry employees to what could become a burgeoning weekend getaway destination.

I'm not certain which MN companies (esp. those located in the Twin Cities) are seeing the most benefit, and I'm doubly unsure which companies are large enough to need hundreds of thousands of SF of new office space. What I've heard is that the Twin Cities are benefitting from the boom in the oil services industries, while cities like Denver are seeing more growth from actual commodities and supplies industries. Here are some key industries (and companies) that could most benefit TC companies:

Banks (US Bank, TCF, Wells Fargo, etc.)
Railroads (Canadian Pacific "CP", etc.)
Trucking/Shipping (CH Robinson Worldwide, etc.)


I'm sure I'm missing something, and perhaps there are some oil companies based in Minnesota that are doing well also, like Northern Oil & Gas (they only make about $300 million in annual revenue), Inc, but I think those above would be the biggest beneficiaries that could potentially build a HQ or expand downtown (or elsewhere in the TC's).

[Minneboy]

Some day when water becomes more of a valuable resource in the country, Minnesota will profit nicely and we'll see our own new towers rise with those companies. <wink>

[widin007]

To build on that, I think as the climate changes and some popular places become less hospitable and much much more dry, i.e. Arizona, So Cal, etc. and winters become more mild, Minnesota will quickly become a more desirable place to be and to develop in.

[min-chi-cbus]

You could argue that winters are already much milder (last winter was rare for the past 10+ winters).

[Nick]

This thread is juuuuust spam bait.

[Minneboy]

Speaking of Spam perhaps Hormel is in need of a new HQ?

[MumfordMoses]

Some day when water becomes more of a valuable resource in the country, Minnesota will profit nicely and we'll see our own new towers rise with those companies. <wink>

Pardon my doom and gloom, you might want to do a little more research on water - Minnesota does not have the surplus many think, esp in the southwest.

My guess is water will be a wide scale issue in less than 5 years & will continue to attract major headlines until serious issues, esp in agribusiness, as well as revamped infrastructures are addressed.

[Didier]

Maybe if we build a lake in the new park and hide oil under it we can attract the mile-high tower that will spur the eventual two-mile tower, which in turn will increase our density to the point where we no longer need roads (just LRT to the airport) and we can eradicate climate change single-handedly.

[seanrichardryan]

I like where this thread is headed.

[mullen]

the special msfa meeting to award the parking contract is today.

[Snelbian]

https://www.youtube.com/watch?v=rWz7IC5s3dQ
‪https://www.youtube.com/watch?v=g_QZbjBa7qc

I've included two links to what I consider amazing, world-class, downtown-defining development proposals: The first is the breathtaking Etihad Towers, located in Abu Dhabi; The other is the Hudson Yards project previously listed.

I'm awestruck by the scale, majesty and vision of each of the two designs and how completely they outpace any of the renderings emanating from our insular Twin Cities design community. Aside from the new downtown stadium, the MOA and perhaps the apartment tower now under construction in Loring Park, as a development community, locally there seems to exist a dogged reticence to build anything beyond a very measured scope.

Dynamic scale has long been the kryptonite to downtown Minneapolis skyscraper development. For scores of years, no building has dared to surpass the height-superiority of our venerable IDS Tower. Certainly, there are legitimate questions whether the downtown market could/would support a massive Etihad Towers or Hudson Yards-style, mixed-use, residential complex, with self-contained, multiple floors of retail, hospitality and entertainment. The strange thing is, we never are offered such visionary concepts to ponder.

Seattle is building it's newest tallest downtown tower, as is Los Angeles, Chicago, New York, Dallas etc. Why not Minneapolis. We are a major global market, with destination medical facilities, world-class universities and research communities that have empowered us to lead the national economic recovery.

Image the desirability of a modern, signature, high-rise, mixed-use complex, like Etiahd Towers, within skyway-walking distance or a short LRT ride from your job. Make it large enough and tall enough to build in a world-class grade school, after-school care, grocery, retail, hotel. Include in the design concept a 70-plus story Target Corp. or United Health, H.Q. tower, dining options and a multiscreen cinema. In exchange for development rights, require builders to include a percentage of mixed-income housing to prevent it from becoming the exclusive province of the financial elite. Imagine the efficiency, time savings of residing in this type of sustainable lifestyle development in the core of downtown Minneapolis. Imagine the global marketing opportunities construction of such a complex would provide.

As we look to grow the Downtown population in the next decade and beyond, it would be wise for builders to set their sights skyward. Doing so would add the type of synergy, street presence, and vitality necessary to make the new downtown neighborhoods safe and functional. In this new global economy, the creative class will be drawn to cities that succeed in offering the vibrancy of modern, sustainable, fully-rounded lifestyles and the intellectual incubators that fuel future breakthrough development.

And, as Bloomington's MOA prepares to double in size, and Rochester plans a $5 billion expansion of it's destination medical facilities, Minneapolis must invest massively and grow to maintain it's regional economic hegemony. Minneapolis is endowed with extraordinary assets but must continue to build on it's progressive design legacy and grow vertically to remain competitively at the razor's edge.

While I admire your optimism, I can't help but think of Galtier Plaza's eventual seat-of-the-pants "success". As has been pointed out, we are not Manhattan. The demand for something on this scale just isn't there right now.