1100 2nd Street South RFP 2010
The City of Minneapolis is seeking development proposals for a vacant lot owned by the City and located at 1100 2nd Street South, Minneapolis. The Site is approximately 0.22 acre or 9,730 square feet in size. The City will sell the Site "as-is".
The Site has an excellent corner location in the Mill District at the intersection of 2nd Street South and 11th Avenue South. The Site has spectacular views of Gold Medal Park – located across the street – the Guthrie Theater, and the Mississippi riverfront. The Site offers great access to downtown, open space, trails, transit, Interstates 35W and 94, parking facilities, and other amenities.
The City’s development goals for the Site include maximizing the Site’s development potential. Since a range of commercial and/or residential uses are permitted on the Site, fulfilling this goal means maximizing the number of jobs and/or housing units created and the contribution to the City tax base. The City would also like to see a development that contributes to the vibrancy of the Mill District area. The City prefers that any parking needs be met off Site, for example, in the existing parking facilities in the area.
The asking price for the Site is $437,850, or $45.00/square foot, based on an appraisal from April 2010. Offer prices will be one of multiple criteria for evaluating proposals. It is City policy to sell property at its fair reuse value. Write-downs from that value are considered public financial assistance, may trigger other requirements for the project, and are discouraged.
Proposals are due at City offices no later than 4:00 pm local time on Friday, October 22, 2010.
For further information about this RFP, email Miles Mercer.
Online information from the City of Minneapolis at MinneapolisMN.gov/CPED
Last updated Nov 2, 2011