The city’s Community Planning and Economic Development department released a report at noon Friday endorsing Ryan, one of two developers vying for rights to build at 728 S. Fourth St. Among the reasons: Ryan was willing to pay more.
Ryan offered the city a $5.65 million net purchase price for the rights, according to the report. That figure doesn’t include $2 million that the developer said it would pay to modify the planned 1,600-space parking ramp.
The project site is immediately northwest of the new Minnesota Vikings stadium and adjacent to Ryan’s sprawling $420 millionDowntown East mixed-use development, which will include about 1.1 million square feet of office space to be owned by Wells Fargo & Co.
Ryan’s proposal for the air rights is a 27-story tower with 200 apartments and a 150… Read More>>