It’s been a long road to redevelopment at the Nicollet Hotel Block in downtown Minneapolis. The city of Minneapolis has owned the site – a dismal surface parking and bus layover lot – for 25 years. But now RBC Wealth Management-U.S. has signed deal to lease 310,000 square feet of office space to anchor the mixed-use Gateway project, which is being developed by Minneapolis-based United Properties.
Despite concerns over a rooftop sign in a city that has few, United Properties has been given permission to move on to the next step of its “Gateway” tower project in downtown Minneapolis. The developer plans to build the tower at 30 South 3rd Street, formerly home to the historic Nicollet Hotel, and with a height of 503 feet it would become the ninth tallest building in Minneapolis.
United Properties closes on sale to build the development, with onsite work beginning next week in Minneapolis. United Properties has closed on the sale of the city parking lot where the Gateway mixed-use development will be built. Here, the asphalt lot is crumbling in places at the site of the development.
It’s been a long and winding road to redevelopment of the Nicollet Hotel block in downtown Minneapolis. The site has been an empty eyesore at the north end of the Nicollet Mall for nearly three decades.The city of Minneapolis had owned the site, which has been used as a surface parking and bus layover lot, since 1993. Several previous efforts to get the block redeveloped had gone nowhere.
The RBC Gateway project broke ground on Tuesday, June 18 in downtown Minneapolis, beginning the construction process on a 37-story building that will feature Minneapolis’ only five-star hotel, the Four Seasons, luxury condos, office space anchored by RBC Wealth Management’s U.S. headquarters and Pohlad Companies (including project developer United Properties), retail and enhanced public realm space
Commercial real estate brokerage JLL is the latest office tenant to sign on to lease in the newest downtown Minneapolis office tower, RBC Gateway. JLL said this week that it will move its Minneapolis office into the United Properties-developed RBC Gateway tower in early 2022. The developer recently started construction work on the 34-story, mixeduse office …