City Staff Recommend Sherman Proposal for 205 Park Ave. S.

Project Background
The City of Minneapolis issued a request for development proposals (RFP) for 205 Park Ave. S., a Minneapolis-owned lot in the Mill District. Two developers, Sherman Associates and Grand Real Estate Advisors, submitted applications by the June 10th deadline. City staff evaluated both projects against the criteria outlined in the RFP.   Staff have recommend Sherman’s proposal.

Links to both proposals can be found at the bottom of this webpage.

The recommendation with first be reviewed by the Community Development & Regulatory Services Committee (8/15 at 9:30 am in  Rm 317 of City Hall) and will then go before the full City Council.  (The public is welcome at this meeting. However, there will be no opportunity for public comment.

If the City Council affirms the staff recommendation to move forward with Sherman, the City and the developer will negotiate the terms of development agreement and land sale.  Staff has further recommended that if a final deal cannot be reached within six months, Grand Real Estate Advisors should be considered.

The project will then follow the City land use review process. Additional neighborhood input will be sought at that time.

The DMNA held three public forums on 205 Park Ave to collect community feedback.  City staff and/or representatives from CM Frey’s office were present at each.  Results from a survey circulated in December 2015 have also been shared with CM Frey’s office and City staff.  The DMNA Board voted to endorse the Grand Real Estate proposals.