Stadium Parking Ramp Development Site - 25 stories / 294'

[xandrex]

Drats. Beat me to posting the link.

Kind of agree with Councilwoman Goodman here - Ryan's new plans feel a bit bait-and-switch-y.

I kind of like the idea of including more uses that the Vikings are proposing. I suppose we'll have to hear more about it, but the rendering looks at least a nice (if not as tall).

[TommyT]

Also, promising retail which the Ryan project didn't do very well.

[go4guy]

News to me that they have already started construction on the ramp. I just looked at the live feed and not a single pile of dirt has been moved. So since it has not started construction, there is plenty of time to re-bid this whole thing to everyone. See if someone else has better plans. Ryan has really fudged this thing up.

[gpete]

Yeah, I feel nervous about allowing the Vikings to have so much control over this part of downtown (the stadium, the Yard, the additional Zygi properties along the north side of the stadium, and now this), but Ryan has kind of botched this proposal, and I don't think they should be entitled to keep control of the development rights.

[mattaudio]

Is that a massive LED screen on the corner of the building closest to the stadium? Yippee, downtown sure needs more flashing signs and massive video screens.

[TommyT]

What's wrong with flashy shiny things!?!?! Ohhhh!!! PRETTY!!!!!

[David Greene]

"Some of the changes to the parking ramp it had hoped would reduce costs to the hotel-residential project were not approved by the Minnesota Sports Facilities Authority or the Vikings, however."

So the Vikings don't approve changes that would help Ryan and then come in with their own proposal?

Not saying Ryan has been an honest player but let's make sure we have a full accounting of things.

[grant1simons2]

This is a subject that really makes me angry. Especially at Zygi, I love his team and the stadium but gosh. Don't be a greedy gordon

[HiawathaGuy]

News to me that they have already started construction on the ramp. I just looked at the live feed and not a single pile of dirt has been moved. So since it has not started construction, there is plenty of time to re-bid this whole thing to everyone. See if someone else has better plans. Ryan has really fudged this thing up.

Yes, this quote was a bit strange... but Ryan did win the bid from MSFA for the ramp. They will be building that regardless if they build the adjacent "linear space" building or not.

I thought the Strib article was just strange. It didn't flow well at all. After reading the document link MNdible posted last Friday, the comments by Frey & Goodman didn't really make sense - is Frey for or against the Ryan changes? The article also makes it seem as though the changes outlined in that link from Friday (changes Ryan wanted to the parking ramp) have already been shot down by MSFA & Wilfs? Anyhow, I guess it'll be interested to read the actual conversations that happened at City Hall today.

I agree that the City should focus on the best air rights agreement price. If the Wilfs are willing to pay $4.6mm upfront, no conditions - I don't see why the city would want to take Ryan's offer. They can partner with Magellan on another lot ... there are still several nearby. Namely the one behind the Armory, or better yet, buy the lot on 4th, behind Crooked Ale Pint/Caribou/501 Fit & Eagle/Bolt bar, and build something there. It's literally across the street from their WF development.

[go4guy]

If i remember correctly, the ramp will be one of the last things built as it wont take long, so I think we have some time to figure this all out. Either way, I thought MPLS just had to guarantee a certain number of spaces near the stadium. Why do the Wilfs get to decide the layout of those spaces?

[HiawathaGuy]

If i remember correctly, the ramp will be one of the last things built as it wont take long, so I think we have some time to figure this all out. Either way, I thought MPLS just had to guarantee a certain number of spaces near the stadium. Why do the Wilfs get to decide the layout of those spaces?

Correct. The timelines have the ramp breaking ground in Q3 (fall) of 2014 and being completed by Dec. 31, 2015.

[MNdible]

I agree that the City should focus on the best air rights agreement price. If the Wilfs are willing to pay $4.6mm upfront, no conditions - I don't see why the city would want to take Ryan's offer.

The upfront payment is just one thing to consider. Ryan's proposed larger project would generate more property taxes over the long haul.

If i remember correctly, the ramp will be one of the last things built as it wont take long, so I think we have some time to figure this all out. Either way, I thought MPLS just had to guarantee a certain number of spaces near the stadium. Why do the Wilfs get to decide the layout of those spaces?

Correct. The timelines have the ramp breaking ground in Q3 (fall) of 2014 and being completed by Dec. 31, 2015.

It's Q3 of 2014 right now. Even if they haven't technically broken ground yet, it takes time to make design changes and order up the scads of reinforcing steel that will be going into this. I think we have very little time to figure this out.

[IllogicalJake]

This is a subject that really makes me angry. Especially at Zygi, I love his team and the stadium but gosh. Don't be a greedy gordon

I don't see greed here... I see "You guys made a promise, that promise fell through, and now we can do better."

I mean, sure, it all goes back to making the most money... but I think that Ryan has really screwed this one up.

[HiawathaGuy]

The upfront payment is just one thing to consider. Ryan's proposed larger project would generate more property taxes over the long haul.

Great point, hadn't thought about that!

It's Q3 of 2014 right now. Even if they haven't technically broken ground yet, it takes time to make design changes and order up the scads of reinforcing steel that will be going into this. I think we have very little time to figure this out.

The link you posted on Friday stated that Ryan would need to order the steel by October. So the window for any changes is very short, but still an option.

[grant1simons2]

Well there are 7 blocks available and zygi owns all of them if this goes through

[HiawathaGuy]

Well there are 7 blocks available and zygi owns all of them if this goes through

Incorrect. The Wilfs only own 2 currently, the ones north of the new stadium. And they wouldn't "own" this block, they'd develop the "Linear Space" adjacent to the MSFA-owned ramp that Ryan Companies is building.

[HiawathaGuy]

Much better article:
http://www.bizjournals.com/twincities/b ... -ryan.html

Vikings move to strip stadium-area tower rights from Ryan Cos.
Sep 9, 2014

Now that grander plans for a hotel and apartment tower next to the new Minnesota Vikings stadium fell through, the football organization is pushing its own plan to develop the space above a proposed parking ramp.

The Minnesota Vikings — owned by the real-estate-developing Wilf family — say the city would be better off if the organization built a 16- to 18-story-tall residential building with retail and broadcast space.

The City Council's Community Development and Regulatory Services Committee did not act on the proposal Tuesday. [...]

On a side note... that Lester Bagley is a real charmer, I tell you.

[grant1simons2]

Doesn't he own the yard as well? I thought that the vikings got ownership of that, I knew he had 2 other parcels and I accidentally counted the Wells Fargo ones

[Minneboy]

Why does he care and what is he afraid of?

....and for that matter why isn't Wilf putting something up there?

[IllogicalJake]

Why does he care and what is he afraid of?

....and for that matter why isn't Wilf putting something up there?

Isn't this proposal basically Wilf putting something there? I know it's not really the case, but when I read "Vikings" I just read it as "Wilfs"