Community Planning & Economic Development

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Coliseum Building

2700-2708 Lake Street East

The Coliseum Building serves as a gateway to the Longfellow Community. The building is adjacent to Rainbow Foods and a block from Target and Cub Foods in the Minnehaha Mall. It is four blocks from the proposed LRT station at Hiawatha and Lake. The building once housed Freeman’s Department Store, and its ballroom was a popular social center through the 1980s. The new owner is undertaking a $5.1 million redevelopment of this East Lake landmark. He has restored the original 1917 façade and made extensive interior improvements. Tenants include the West Side Community Health Service, Chicanos Latinos Unidos En Servico (CLUES) and Denny's Restaurant.

Developer:

2700 East Lake LLC

Financing:

Construction financing: Associated Bank

 

Permanent financing: Community Reinvestment Fund

City Investment: 

$625,000 Commercial Corridors Program

   

$300,000 Longfellow NRP

 

$300,000 Minneapolis Empowerment Zone

 

$ 40,000 2% Fund

Total Development Cost:
  

$5,135,627 (includes a $920,000 "pay-as-you-go" tax increment note funded by a consortium of five local banks)

Gross Building Size:            

77,000 square-feet

Renovation Start Date:

December 2000

Expected Completion Date:

Mid-2002

Information subject to change.

January 2002

Last updated Oct. 28, 2011