Telos Group

THE DAYTON'S PROJECT: NEW DETAILS, NEW IMAGES

We’ve got some exciting updates on The Dayton’s Project.

The redevelopment of what was most recently was a Macy’s in Downtown Minneapolis is moving forward and at full speed.

Construction began in March 2017 on the $250+ million transformation of the 12 story, 1.2 million square foot building. Demolition work within the building was completed in late 2018 readying it for its restoration, renovation and reconfiguration to begin.

Since then construction has been relatively contained however you can expect to really start to see things progressing now since the developers and the Historical Preservation Committee recently were able to agree upon a central void size.

The project also recently gained the rights to use the official Dayton’s logo within their marketing and with that comes a new marketing brochure which has revealed some new and exciting details about the project. 

THE PLANS

Once complete there will be over 200,000 square feet of retail space located on the basement, first and second floors of building. The remaining nine stories above the retail space will be home to some of the largest single plate floors of office space within Minneapolis. We’re talking about some floors having 90,000 square feet of continuous space, a floor plate size most often found in major metropolitan cities such as New York, Chicago and LA.

Those who are lucky enough to work within the building will have access to modern office spaces, a lounge, fitness center, library and an outdoor tenant-exclusive rooftop featuring ample lounge space, fire pits, a garden and of course stunning views of the Downtown skyline.

Who will occupy these amazing office spaces is still unknown. What we do know is that there is one confirmed tenant for the retail space below.

NEW DETAILS ON THE DAYTON’S FOOD HALL & MARKET

Dayton’s Food Hall & Market will be curated by Minnesota’s own, Andrew Zimmern, along with his team at Passport Hospitality.  

New details on the food hall show that it will span over 45,000 square feet and will occupy over half of the basement level along with space on the ground floor at the corner of S 7th Street and Nicollet.

Within the space there will be many different seating arrangements along with a central bar featuring lounge seating. Oh yeah, there will also be 40-50 different chef-driven kiosks. Now, that’s a big food hall.

In addition to that large foot print of the food hall it also appears that there will be a 4,856 square foot retail space tucked into the back corner of the food hall. Could we also be getting a full-service Andrew Zimmern restaurant? Fingers crossed.

While food may be the focus, Dayton’s Food Hall & Market also plans to feature a number of special events throughout the year such as guest appearances and demonstrations, movies, live music and more.

Now with the food hall taking up 45,000 square feet of the 200,000 square feet of available retail space, what’s in store for the rest?

NOT ANOTHER BLOCK E

Mid America Real Estate is leasing the retail space within The Dayton’s Project. A new leasing brochure featured on their website offers new details on how the interior reconfiguration of the three levels of retail space will look.

The basement level will be home to Dayton’s Food Hall & Market (which you just read about) along with 25,206 square feet of divisible retail space and that 4,856 square foot retail space that we also mentioned above. Our prediction is that this level will be devoted to food and entertainment.

The ground floor of the building will include another entrance to the Dayton’s Food Hall & Market and another 50,000 square feet of retail space that is split up into a number of different configurations. The ground floor will also be home to the lobby for the office space on the upper floors of the building. We expect this floor to be a mix of clothing retailers, fast casual restaurants and service oriented retailers

Last but not least is the second floor, which most likely will be the busiest level due to its five skyway connections. It’ll be home to another 50,000 square feet of retail space. We do want to point out that there is one interesting aspect of this level that is called out in the marketing brochure. It’s the “Beauty Hub.”

A BEAUTY HUB? WE LIKE THE SOUND OF THAT.

There aren’t many details available on the 13,256 square feet of space that is designated as the Beauty Hub, but that won’t stop us from speculating.

If you think about it, Downtown Minneapolis is a desert when it comes to cosmetics and beauty stores. Yes, there are plenty of places to get your hair done but when you really think about it there are little to no places for cosmetic purchases. No really, think about it. Your only option is pretty much Walgreens or Target. That could change with the Beauty Hub at The Dayton’s Project.

What we believe the Beauty Hub could be is a creative way for the developers to lure in not one, but multiple brand name beauty retailers. The way they would do so is by creating a hub where each of those retailers can feed off of each others energy and more importantly, each others customer base.

Think cosmetic retailers like MAC, Sephora, Bare Essentials or NYX and salons like Rocco Altobelli or Juut. The collection of these tenants would be a destination for visitors to The Dayton’s Project which also might be why the developers have placed this hub in a large space towards the back of the building.

Currently the space designated as the Beauty Hub is listed as divisible so it’s clear that the developers are looking to secure multiple beauty tenants. Now, the question is, who will step up to the plate and make everyone’s Downtown beauty dreams become a reality?

NEW RENDERINGS OFFER A GLIMPSE INTO THE FUTURE

One of the biggest updates that the marketing brochure features are new renderings of both the interior and exterior of The Dayton’s Project.

Since gaining the right to use the Dayton’s logo it appears that the developers plan on branding the building once complete as simply “Dayton’s.” It’s a perfect way to honor this building’s historical pasT that stretches back over a century.

Other things depicted in the exterior renderings include a change to the ground floor bay windows which will now be replaced with large panes of glass (not garage like doors as originally rendered). The exterior will also undergo an extensive cleaning and restoration of the its brick and stone.

Interior renderings show a number of updates to lighting and finishes. There now appears to be an LED/neon light sculpture that will span the void within the space. Speaking of that void, the new renderings also now show the agreed upon void opening which is slightly smaller than what was originally planned now spanning 1,900 square feet instead of the original 2,500 square feet.

One thing we do want to put out is the fact that plans are always subject to change and that some of the floor plans and renderings that you might see here today may change before the completion of the project.

THE TEAM

As we wrap up our latest update on The Dayton’s Project we thought we should give you a reminder of the massive team working on this amazing transformation of one of Downtown Minneapolis’ largest and most historically significant buildings.

It takes a village they say and it is certainly clear with this one that it truly does.

Owners: The 601 W Companies

Investors: Telos Group and United Properties

Architect and Interior Design: Gensler

Leasing: Telos Group

Property Management: Transwestern

Retail Leasing: Mid-America

Office Leasing: Transwestern

General Contractor: Gardner Builders

Owner’s Representative: Hightower Initiatives

Preservation Architects & Historical Advisor: PVN

Structural Engineer: Meyer Borgman Johnson

MEP / FP Engineer: McGuire Engineers Inc

Work on The Dayton’s Project is expected to wrap up in Spring 2020. Check back before then for more updates on this exciting and transformative project.