City Council approves $1 million forgivable loan to V3 Sports

April 13, 2023

The City Council has approved a $1 million forgivable loan to support the V3 Sports Center development located at 701 Plymouth Ave N. The City funding will support components of the project that further expand commercial offerings in the Near North Community, job-training opportunities, and wrap around supports for young people.

“The V3 Center will be a game-changer for our Northside community,” said Mayor Frey. “Where else can you learn to swim in an Olympic pool, hang with family and friends, and be exposed to incredible employment opportunities? This is a project by our community – for our community, and we couldn’t be prouder to support this work.”

“This is a big deal for North Minneapolis. As somebody who grew up on the Northside and grew up swimming, there were not many locations for swimmers in our neighborhood,” said Ward 5 Council Member Jeremiah Ellison. “I am excited for this state-of-the-art facility to come to the Northside. This will be an immense value add to our community and the city as a whole.”

“I am thrilled to support the V3 project. This is exactly the type of amenity we need in North Minneapolis,” said Ward 4 Council Member LaTrisha Vetaw. “So many young people in our communities don’t know how to swim. V3 will help teach our children the joys of swimming in a world-class facility.”

“Our City and State are known for the many opportunities to swim and take advantage of aquatic outdoor activities. V3 will bring this desperately needed service to the Northside, teaching kids – especially young girls – how to swim in an area that has been historically underserved,” said Ward 7 Council Member Lisa Goodman. “I am proud of V3 and their investment into bringing fun and an essential skill to our underserved communities.”

The $90 million project is in its initial stages and when complete will include a 50-meter pool, and 25-meter training pool, running/walking and biking space, and wellness-related retail/cafeteria and community gathering space. The construction of the facility will occur in multiple phases over the next few years, with phase 1 of the project expected to open in second quarter of 2024. The City will provide a $1 million forgivable loan to support components of the project. These costs address:

  • the community café and associated job training program
  • investments into traffic controls and other infrastructure around the site
  • construction costs of yet-to-be-contracted phases
  • furnishings fixtures and equipment
  • other related costs

V3 Sports, Inc. (V3 Sports), headquartered in north Minneapolis, provides health, wellness, equity, and opportunity through fitness, water safety, education, and economic impact.