There's another project that has entered the design phase and could soon be gracing the skyline of Minneapolis. Oh and we should mention that this time around it's one of the biggest yet.
Sam Black of the Minneapolis/St. Paul Business Journal reported last week on the plans that Franklin Street Properties is in discussions about for part of the site where TCF Bank currently has their downtown Minneapolis headquarters located. It's been clear for over a year now that redevelopment plans were in store for the sight however those development plans remained unknown.
Franklin Street Properties is now including in one of its potential designs a tower of 45 stories. That tower would include a 4 star hotel in the base, about 200,000 square feet of office space in the middle and topping the structure out would be about 150-200 residential units. It would be quite the structure and quite the gain for the core of downtown Minneapolis. Another proposal currently being evaluated by Franklin Street Properties is one that would include strictly just office space of about 200,000 square feet.
At the current moment it seems as if the larger proposal is most likely to be the one to move forward in the design phase. Franklin Street Properties is already in discussions with a tenant that would take about 100,000 square feet of the office space, hotel operators are also interested in 250-300 rooms along with multiple residential developers who are interested in the residential aspect of the project.
TCF Bank will vacate the corner space in 2016. It is unclear when redevelopment of the project exactly will begin but it is likely to be soon after.