Development

The 2025 Plan’s Development Committee is focused on helping the downtown community thrive throw business and residential growth as well as forging connections that will help attract and retain talent for our downtown community.

Committee Chair: Carl Runck – Ryan Companies

Key 2025 Plan Goals:

DOUBLE DOWNTOWN’S RESIDENTIAL POPULATION

Expand the residential population to 70,000 as a catalyst for driving Downtown’s next wave of business vitality, social improvement and cultural renewal. Add 15,000 housing units; expand Class A multi-tenant office space by 3 million square feet; add 1,100 hotel rooms, and build 200,000 square feet of retail space, including at least two new grocery stores.

BUILD A NEW VIKINGS STADIUM IN DOWNTOWN MINNEAPOLIS

A new Vikings Stadium, located on the former site of the Metrodome, will be connected to the region’s busiest transit hub (the Transportation Interchange) and will be designed to maximize Downtown’s long-term entertainment value.

FORGE CONNECTIONS TO THE UNIVERSITY OF MINNESOTA

Leverage the Central Corridor’s light rail service to create a stronger link between campus and Downtown. Extend green corridors over the freeway trench that separates the CBD from the West Bank campus and establish a major new residential district on and around the new Vikings stadium site.

Initiatives:

• Explore Downtown Living – A free event focused on showcasing 30 residential properties in five downtown neighborhoods to those interested in moving downtown. Includes deals and promotions from local businesses.
  
  
• Office/Hotel Task Force – This group oversees working to attract and retain talent in the downtown area for local businesses. Their Be In Business website showcases the amenities and opportunities only downtown can provide.
  
  
• Retail Task Force – This new retail task force is focused on maintaining a strong retail presence in the heart of downtown.
  
  
• East Town-North Loop Work Group – The East Town task force is focused on being the champions of the fastest growth edges of downtown, supporting emerging development and catalyze new interest and projects, and drive development visions of both the East Town and North Loop neighborhoods. Current focuses include Park and Portland project sites, North Loop Green Line LRT extension, and housing sector studies advocating for additional affordable housing and clarity on the impact and best practices of gentrification. For more information, visit the East Town Development and 2020 Partners websites.
  
  
• U of M Task Force – In an effort to create a stronger connection to the University of Minnesota, this task force is working hard to establish more opportunities for students to engage in downtown business.
  
  
• Housing Options Coalition – This task for is working to help establish and pass legislation that will make it more enticing to build condos in the state of Minnesota, which will help condo development downtown.