Location

Minneapolis, MN

Est. Project Cost

$83.3 million

Public Financing

New Markets Tax Credit, Historic Tax Credit

Private Financing

Debt Financing

Midtown_Minneapolis-20061015

Type

Commercial/Office

Size

500,000 SF

Sponsor

Ryan Companies US, Inc.

Closing Date

2006

Catalytic P3, Historic Redevelopment and Adaptive Re-use

Mixed use redevelopment of historic Sears distribution center into the corporate headquarters of Alliana Health, residential and a Fresh Food Cooperative retail uses. Tax Credit financing provided secondary debt for the underleveraged developer to complete construction.

Estimated Economic and Social Impact

Over 1,850 job created and retained with over 500 construction jobs.