Roseville / Rosedale - General Topics

[HKM]

Big Bowl closing makes me sad - it was a very fun college job and I still love the food.

Makes me sad too. I wonder what their deal was? Not enough business?

Their "deal" was the mall is repurposing their space.

[pannierpacker2]

Technically Falcon Heights but definitely falls under Roseville Area:
https://www.twincities.com/2024/02/18/f ... irgrounds/

Looks like a 96-unit apartment building is being built next to the Fairgrounds at Larpenteur and Snelling after recent city council approval. It will be adjacent to the recent office-to-apartment conversion at the old TIES building located on the corner of that intersection. It will definitely be good to see some higher density at this location. This intersection could use a lot of love.

[pannierpacker2]

Tuesday Morning will be closing at the Har Mar location and Excelsior location.
Pretty big blow for a place like Har Mar that already has a lot of vacancies.

https://bringmethenews.com/minnesota-li ... bankruptcy

Some more Har Mar recent larger storefront closures:

* Old Chicago (I'm guessing most already knew that)
* Home Goods - technically not closing but they are moving soon to the Bed Bath and Beyond space that emptied out recently over by Fairview Ave. I am wondering if Marshalls will do something similar because they are owned by the same company?

I have not heard anything further. It sound like Har Mar got new owners about 1.5 years ago, from Texas. I took a walk in there recently and noticed that Fit-Rite Alterations also left. I probably hadn't been inside the actual mall for close to 3 years.

[Tom H.]

Har Mar has got to be a pretty attractive redevelopment opportunity, given the Rosedale proximity and being right on an A Line stop, no? I'm not sure how Roseville has this area planned currently, but my understanding of the pending housing legislation is that parking requirements would be very minimal (or zero?) since it's next to a rapid transit line.

I went to college in the area 15-20 years ago and Har Mar was pretty dumpy even then. I know lots of people have good-old-days, first-ring-suburb nostalgia for Har Mar and Target Store #1, but looking at it soberly, Har Mar is way past its prime.

[BigIdeasGuy]

I think a real redevelopment of Har Mar is pretty unlikely just based on the always busy Chick-Fil-A that opened a few year ago along Snelling. If the owners where planning something transformational they would have continued to have control over such a prime location and the associated parking vs selling/long term ground lease

[Multimodal]

I want to believe Tom (especially considering HarMar has grown less than 10% in value in the past 15 years), but BigIdeasGuy is probably right, as Fidelis' web site home page has this to say:

"Fidelis believes there are four essential services we provide to our tenants to ensure a project is successful:

VISIBILITY
ACCESS
PARKING
SIGNAGE
This means we strive to ensure that our centers will be easily visible and readily accessible with plenty of parking and extensive signage. We believe this so strongly that we use the term VAPS to certify that our centers meet all the criteria."

As a Texas-based company, it is not surprising that they are all about cars.

We need better property investors in the suburbs.

[Tom H.]

This is exactly why the parking minimums bill is (or *was*) such a big deal. Fidelis can so highly prioritize parking, without any loss of realized value, because every other competing property is also mandated to have lots of (mostly unnecessary) parking. If you remove the mandated parking minimums, then Fidelis can value parking as much as they want, but their free-market competitors will out-compete them financially by only providing the amount of parking that the market can actually support.