Archives for News

Opus, Inland pitch spec warehouse in Maple Grove

More than $3 million in public assistance has helped to lure the Opus Group and Inland Development Partners to build an office warehouse on a former dump site the city of Maple Grove has owned since 2005. Minnetonka-based Opus and Wayzata-based Inland have proposed a 204,000-square-foot speculative warehouse project on a 13-acre site at 8550 Zachary Lane N. The property, which is in the northwest quadrant of Highway 169 and Interstate 94, is next to the city’s burgeoning Arbor Lakes redevelopment area. The Maple Grove Planning Commission is scheduled to consider the proposal at an Oct. 8 meeting. The developers have signed a preliminary development agreement with the city. The estimated $23.5 million project would be built on a site the city purchased 13 years ago for $1.88 million. Maple Grove has secured $1.75 million in cleanup grants from the state, Hennepin County and the Metropolitan Council. The city is also considering awarding $1.4 million in tax increment financing to the developers “because of extraordinary site costs,” said Maple Grove City Administrator Heidi Nelson. The
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Tom Shaver Wins NAIOP President’s Award

Tom Shaver, a partner in Wayzata-based Inland Development Partners (IDP), is the winner of the 2018 NAIOP Minnesota President’s Award. It is NAIOP’s highest honor, and the winner is selected by chapter leaders from a field of candidates nominated by members. NAIOP said that Shaver’s development expertise, in a commercial real estate career that spans about 35 years, has translated into benefits for clients and the cities where the projects are located. “Shaver’s goals within the built environment stem from IDP’s mission of serving as stewards for clients and communities, and collaborating to provide the very best in real estate know-how and execution,” NAIOP Minnesota said in a statement announcing the award. The organization highlighted some of the major projects that Shaver worked on in the Twin Cities region. Those projects are: the redevelopment that will become Rice Creek Commons in Arden Hills; Excelsior Crossings, a 31-acre multi-use redevelopment in Hopkins; UnitedHealth Group’s 320,000-square-foot corporate campus in Minnetonka; and the Flying Cloud corporate campus, a 293,000-square-foot development in Eden Prairie. The President’s Award goes to
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First new apartments since 1970s set in Richfield neighborhood

St. Louis Park-based Inland Development Partners in tandem with Kraus-Anderson Construction landed backing from the Richfield City Council for the Chamberlain Apartments this fall after meeting with neighbors of the project near 18th Avenue S. between 66th and 68th streets. Address: 18th Avenue E. between 66th and 68th streets, Richfield Type: Multifamily residential Units: 284 new, 33 rehabbed existing units Developers: Inland Development Partners, Kraus-Anderson Construction Architect: UrbanWorks Architecture Details: St. Louis Park-based Inland Development Partners in tandem with Kraus-Anderson Construction landed backing from the Richfield City Council for the Chamberlain Apartments this fall after meeting with neighbors of the project near 18th Avenue S. between 66th and 68th streets. Three buildings with 284 apartments are slated to be built starting in the spring. Read full article >
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Steve Schwanke named Minnesota NAIOP President

IDP Founding Partner begins role this month MINNEAPOLIS – Jan. 30, 2018 – NAIOP Minnesota, the Commercial Real Estate Development Association, has named Inland Development Partner’s Steve Schwanke its 2018 Chapter President. Schwanke will build on recent successes to broaden and diversify membership and to refine and develop programs that appeal to and advance the goals of local NAIOP members. Schwanke is one of three founding partners at Inland Development Partners and has 30 years of industry experience. His focus is redevelopment and mixed-use projects with a particular emphasis on large-scale development and complicated redevelopment projects. “The NAIOP Minnesota chapter is among the association’s strongest and most active, and the appointment of Steve Schwanke as chapter president recognizes his leadership and the contributions he’s made to the development community in his local market,” said Thomas J. Bisacquino, president and CEO of NAIOP Corporate in Herndon, Virginia. “With 51 chapters across North America, NAIOP connects its members across a powerful network to provide advocacy, education and business opportunities that advance our member businesses.” NAIOP Minnesota’s efforts
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First new apartments since 1970s set in Richfield neighborhood

Address: 18th Avenue E. between 66th and 68th streets, Richfield Type: Multifamily residential Units: 284 new, 33 rehabbed existing units Developers: Inland Development Partners, Kraus-Anderson Construction Architect: UrbanWorks Architecture Details: St. Louis Park-based Inland Development Partners in tandem with Kraus-Anderson Construction landed backing from the Richfield City Council for the Chamberlain Apartments this fall after meeting with neighbors of the project near 18th Avenue S. between 66th and 68th streets. Three buildings with 284 apartments are slated to be built starting in the spring. Read the full article here >
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Bob Cunningham Joins Inland Development Partners

Cunningham will be responsible for business development and will help facilitate complex agreements involving multiple entities, managing the planning stages, real estate processes, site and environmental challenges, financial solutions and partnering with city and state stakeholders. Check out the profile on Minneapolis/St. Paul Business Journal.  The full Press Release is below. MINNEAPOLIS – Oct. X, 2017 – Inland Development Partners (IDP) recently named long time Twin Cities developer Bob Cunningham as partner in the firm. Cunningham will be responsible for business development and brings 35 years of property development and redevelopment to the company. “Having an industry veteran responsible for a number of ground breaking public/private partnerships join our team will strengthen our offerings and broaden our expertise, to help us better serve our clients,” says Kent Carlson, IDP Partner. Before joining IDP, Cunningham was Principal at Melrose Company and TOLD Development Company where he was involved with all levels of development and operations of office, industrial, retail and multi-family development. Cunningham joins partners Kent Carlson, Tom Shaver and Steve Schwanke, who have a combined
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Race for new Amazon HQ is altering TCAAP plans in Arden Hills

The idea of a huge second Amazon headquarters in the Twin Cities has “changed things quickly and dramatically” for the board in charge of the state’s largest development project. Louis Jambois, the former head of the St. Paul Port Authority who is negotiating a development deal for the 427-acre Twin Cities Army Ammunition Plant (TCAAP) site in Arden Hills, said that while existing plans are “not out the window,” the Amazon opportunity has “caused us to rethink the opportunities here.” With people all over North America salivating for a project promising 50,000 jobs, no one claimed that the bid will be anything but a long shot. Read the full story >
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The potential of jobs, jobs, jobs in Arden Hills

Development at the former Twin Cities Army Ammunition Plant site in Arden Hills is poised for progress in 2017 as the vision to transform idle, polluted land into a vibrant new place to live and work continues to take shape. Among recent landmarks for the site — now known as Rice Creek Commons — are development-plan approvals by the Ramsey County Board and Arden Hills City Council. The 400-plus-acre project — on what was the largest contaminated site in the state — was considered too big and too risky for the private market. We weren’t alone on these pages in raising questions about the county adding economic development to its already long list of traditional responsibilities when the deal closed for its purchase of the site in 2013. Time and economic cycles will confirm if commissioners made the right choice. But, as development plays out over the decade to come, the potential upside is considerable. “When all is said and done, this property will generate between $10 million and $15 million in property taxes a
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Suburbs are still a draw for some companies

Real estate insiders on Tuesday agreed “the jury is still out” on whether the workforce of the future is driving a trend for companies to migrate back downtown. In January, TCF Bank completed its relocation of corporate employees to the Plymouth Corporate Center at 1405 Xenium Lane in Plymouth. About 1,700 staff previously scattered across seven different buildings across the metro — including the TCF Tower in downtown Minneapolis — made the move. (Staff photo: Bill Klotz) But two corporate real estate executives from TCF Bank and UnitedHealth Group, who served as panelists at the NAIOP Minnesota event in Golden Valley, provided first­person assessments of the advantages their companies have seen in setting up shop in the suburbs. They cited parking and opportunity for on­site growth as two major factors. TCF Bank recently completed its relocation of about 1,700 corporate employees from seven sites around the metro into the Plymouth Corporate Center along the southeast quadrant of Interstate 494 and County Road 6. A large percentage of that workforce worked for many years at the
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Arden Hills megaproject appears headed for City Council approval

The 427-acre megaproject in Arden Hills appeared to be heading for approval Monday night after a prolonged and at times tense discussion. The town center project as proposed last summer by the master developer for the former Twin Cities Army Ammunition Plant site, known as TCAAP, came in more urban in feel than city officials had expected, with buildings twice as high as the city’s five-story maximum. Council members struggled Monday night to reach a compromise on density that would allow for the unanimous 5-0 vote that Alatus LLC chief Bob Lux had said he wanted, out of concern for the aura around the project. If there’s a 4-1 vote, he said, “the headlines will be about the one, not the four, and it challenges us on the commercial side,” with potential clients leery of controversy. “Five to zero would help.” But, based on discussions Monday night, it looked as though 4-1 might well be the final tally. There’s a public hearing Dec. 7, and a final vote Dec. 19. A major topic of discussion
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