Minneapolis-based Ryan Companies faced a big day on July 19. That’s when the developer presented conceptual plans to the Minneapolis City Council for Downtown East, its proposed $400 million mixed-use development that will cover five blocks adjacent to the new Vikings stadium.
And the result? A unanimous vote of approval for Ryan Companies and its plan.
Not one council member levied a “no” vote – the council voted 13-0 in favor — against Ryan’s plans. This paves the way for the company to begin transforming this important city neighborhood.
“The council’s unanimous vote sends a very strong signal that city hall is proceeding full-steam ahead on this game-changing development,” said Minneapolis Mayor R.T. Rybak, in a written statement.
Mortenson Construction is now building that new NFL stadium. But as important to the area are Ryan’s plans for Downtown East, a project that will include 300 to 350 residential units, 40,000 square feet of retail development, a public park — to be called The Yard — and a pair of 20-story office towers.
Ryan has already received approval to build two parking ramps and purchase a third for the new Vikings stadium. The ramps will provide 2,500 parking spaces. The Minnesota Sports Facilities Authority in early July awarded the parking contract to Ryan Companies.
