Ryan Companies US, Inc. and Wells Fargo broke ground on Downtown East, a $400 million mixed-use development located on a five-block, 12.5-acre area near the new Vikings stadium in downtown Minneapolis.
The Downtown East project will include 1.1 million square feet of office space in two 18-story towers owned by Wells Fargo, 193 market-rate apartments, about 24,000 square feet of retail, a six-level parking ramp containing 1,610 parking spaces to be owned by the Minnesota Sports Facilities Authority and a nearly two-block urban park physically connecting the new Vikings Stadium to the core of downtown Minneapolis.
The construction of Downtown East will collectively create jobs for about 3,400 tradespeople.
To mark the start of the construction project, executives and employees from Ryan Companies and Wells Fargo gathered at the project site for a ceremonial ground-breaking event on May 13. In addition to the 250 guests, the event was also attended by notable Minnesota politicians and business leaders, including Minnesota Governor Mark Dayton; Minneapolis Mayor Betsy Hodges; Minneapolis City Council President Barbara Johnson; and former Minneapolis Mayor R.T. Rybak.
