Old Thrivent HQ - Sora Apartments & Parking Ramp

Downtown - North Loop - Mill District - Elliot Park - Loring Park
Silophant
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Re: Thrivent's Surface Parking Lots

Postby Silophant » August 30th, 2017, 2:36 pm

V excited for a full-block, three story building.

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Re: Thrivent's Surface Parking Lots

Postby SurlyLHT » August 30th, 2017, 3:00 pm

"“Thrivent has been planning a workplace redesign that would involve significant disruption for our employees. The potential sale of our current building creates the opportunity to develop a long-term option that can support the future needs of the organization, reduce disruption to our workforce, and allow us to continue to be an important part of the development of East Town,”

This statement is a bit cryptic. The mention of disruption to their employees makes me think that they want more space, not less. Does anyone know if Thrivent leases space in other buildings? The new HQ could end up shorter as the article hints, which of course would be a disappointment.

TroyGBiv
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Re: Thrivent's Surface Parking Lots

Postby TroyGBiv » August 30th, 2017, 3:14 pm

I just asked a friend about whether they had other office space dt.. he does consulting for them... he didn't think they did but i know they have a tech office in central wisconsin... no idea if they would be consolidating those types of jobs and relocating them... He said that they are not really experiencing growth... they don't have a product that competes / or at least is any better than most... and he said that younger people don't really care about lutheran organizations like their parents and grandparents... (he is a strategist and a branding guy)

So needing more space may not be the reason for this move...

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Re: Thrivent's Surface Parking Lots

Postby Silophant » August 30th, 2017, 3:19 pm

I wouldn't really have a problem with a shorter building. What I would have a problem with is a single-use block. Will they follow K-A's lead and build out a fantastic project? Hard to say.

As someone said a ways upthread, an affordable/workforce housing component would seem to fit in with their overall mission.

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Re: Thrivent's Surface Parking Lots

Postby SurlyLHT » August 30th, 2017, 3:56 pm

Something like the KA block might be the best we can hope for. I hope it's a project that is able to further connect the Downtown core to Downtown East. Maybe with green space and skyways? A nice public atrium might be nice.

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VacantLuxuries
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Re: Thrivent's Surface Parking Lots

Postby VacantLuxuries » August 30th, 2017, 4:05 pm

Something like the KA block might be the best we can hope for. I hope it's a project that is able to further connect the Downtown core to Downtown East. Maybe with green space and skyways? A nice public atrium might be nice.
I just hope Thrivent is told "Nope, try again" multiple times like KA was if they try and build something terrible and waste valuable land.

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Re: Thrivent's Surface Parking Lots

Postby Minneboy » August 30th, 2017, 4:18 pm

I'm hoping that the new building will be beautiful and could possibly be a very nice base for a tower or two of slim residential and perhaps hotel developments.

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Re: Thrivent's Surface Parking Lots

Postby Silophant » August 30th, 2017, 4:59 pm

I just hope Thrivent is told "Nope, try again" multiple times like KA was if they try and build something terrible and waste valuable land.
Agreed, but I don't know what the city would be able to do. As I understand it, the city was able to shut down KA's first proposal because they were planning to turn the footprint of the old building into surface parking, which is disallowed in the Downtown Parking overlay. Had they been willing to just leave the old footprint as an empty lot, like the north side of Hennepin has between Washington and 4th, I don't believe that the city would have been able to stop them.

Since this block is all surface parking already, I don't think there's any way they could violate the Downtown Parking overlay, so they're limited only by the restrictions of the B4S-2 district, of which there are not very many. Basically, the minimum FAR is 2.0, but they would seem to be totally in their rights to do a two-story box that covers the whole block.

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Re: Thrivent's Surface Parking Lots

Postby mattaudio » August 30th, 2017, 9:41 pm

My Thrivent contacts tell me they want less space, not more. Back in the day, they had people in 701 - that's now a Hennepin County building too, right? Then they consolidated back at 625, and there was plenty of room when I was there on a project 7 years ago. They aren't growing that much, and they've pushed more operations functions to Appleton.

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Re: Thrivent's Surface Parking Lots

Postby twincitizen » August 31st, 2017, 6:42 am

If Thrivent is downsizing, why not lease space in an existing building? If new is a must, why not build office space on the half-block parking ramp they are proposing? Wouldn't that be more cost-efficient (and convenient) for their employees?

None of this makes any sense yet.

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Re: Thrivent's Surface Parking Lots

Postby SurlyLHT » August 31st, 2017, 7:49 am

I imagine whomever at Thrivent who knows answers to all our questions and speculation would be entertained reading this forum. Especially, if even with downsizing they're planning on building something we'll appreciate.

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Re: Thrivent's Surface Parking Lots

Postby minntransplant » August 31st, 2017, 7:56 am

If Thrivent is downsizing, why not lease space in an existing building? If new is a must, why not build office space on the half-block parking ramp they are proposing? Wouldn't that be more cost-efficient (and convenient) for their employees?

None of this makes any sense yet.
I think they would have trouble finding enough contiguous office space in a premier, existing building. Not much out there for tenants who need a big footprint.

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VacantLuxuries
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Re: Thrivent's Surface Parking Lots

Postby VacantLuxuries » August 31st, 2017, 8:32 am

I imagine whomever at Thrivent who knows answers to all our questions and speculation would be entertained reading this forum. Especially, if even with downsizing they're planning on building something we'll appreciate.
From my experience at a previous job where our work was critiqued on forums, generally reading them was a source of frustration.

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Re: Thrivent's Surface Parking Lots

Postby Silophant » September 7th, 2017, 9:36 pm

Final vote on county purchase delayed until Sept. 26.

Sounds like the commissioners are concerned about the cost. Maybe it'd be easier without the $11.5M for parking stalls?

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Re: Thrivent's Surface Parking Lots

Postby RailBaronYarr » September 8th, 2017, 9:26 am

I'm too lazy to really dig into it now, but if you include the rent from Thrivent while they build a new HQ, cut out $11.5M parking stall purchase (assuming that was part of the $55M purchase, previous articles made it seem like that was a separate amount), capital project savings at other buildings, the sale value of those other buildings, and whatever gap there'd be between those other leased spaces and the operating cost of Thrivent... this seems like a pretty good deal. I wonder if the Thrivent building has any major capital costs in the foreseeable future?

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Re: Thrivent's Surface Parking Lots

Postby MNdible » September 8th, 2017, 9:45 am

It probably has a ton of major capital costs coming up, I'd guess. It's at the age where you'd expect that the exterior envelope of the building is going to need a pretty significant overhaul, and this is probably exacerbated by the sloped glazing on the main facade.

But I'd still agree, for the reasons you note above and for the fact that you're just not going to find a better location for Hennepin County, that this is probably a good deal.

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Re: Thrivent's Surface Parking Lots

Postby SurlyLHT » September 26th, 2017, 1:39 pm

Purchased approved, at least according to the County Board meeting on the television in Government Center

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Re: Thrivent's Surface Parking Lots

Postby HiawathaGuy » September 26th, 2017, 2:29 pm

Hennepin County approves $55M purchase of Thrivent building
https://www.bizjournals.com/twincities/ ... ivent.html
*Unlocked*

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Re: Thrivent's Surface Parking Lots

Postby mister.shoes » September 26th, 2017, 8:22 pm

Even with this sale, the little project on the half block is still going to happen? Huh.
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Silophant
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Re: Thrivent's Surface Parking Lots

Postby Silophant » September 26th, 2017, 10:37 pm

Well, the county couldn't possibly expect their employees to use the billion dollar LRT lines they're building in every direction to get to work.


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