According to multiple outlets, Wellington Management Inc. has acquired a 6.8 acre industrial site in Minneapolis and has plans to build a large mixed-use development that would include both housing and office space.
As mentioned in reports, the St. Paul-based developer officially closed on the complex back on July 1st, which was purchased for just $1.05 million. Lee Holdings Inc previously occupied the 85,000 square foot building, of which part of will be razed to make way for 110 apartment residences. About 50,000 square feet of the building will remain, however, which is where Wellington Plans to build out creative office spaces that are being called Currie Market.
Although the site has long been used for industrial use, it was re-zoned into residential use several years ago, giving developers little reason to believe plans won’t be approved for the new project.
Outside of Wellington working with Collage Architects for design plans, additional details about the new Wellington project have not yet been made available.