Block E - Minneapolis
Timing worked well in scheduling Bob Lux, principal at Alatus, to speak at the Real Estate Executive Insight Series. When this session was scheduled in December of 2010, a casino in Block E had not been put on the table. Alatus had purchased Block E but no plans had been released about how they were going to improve upon the troubled area. By the time Bob came in to speak in March, it was all over the news. Bob spoke about how he got into the business and other development projects he completed such as Grand Park Condominiums and the Carlyle Condominiums. Here is a recap of the event:
Best of Real Estate Matters – #4: The 14 Million Dollar Question
The redevelopment of Block E was clearly a big topic in 2011. Two of our most read blog posts talked about the project. If you haven’t read it already, Best of Real Estate Matters #9 – A Deal Alatus Could Not Refuse talks about the history of the Block E site.
Proposed Block E Casino (from startribune.com)
This popular blog post from 2011 tells the story of Block E – from its position as an epicenter of Minneapolis in the early 1850’s to a troubled retail and entertainment center today. Alatus purchased the property at about 14% of the original development cost. The big question now is what they do with the property.
Best of Real Estate Matters – #9: A Deal Alatus Could Not Refuse
Today, Block E is down to just a few tenants including the AMC movie theater and Kieran’s Irish Pub a fairly new tenant who relocated to better attract crowds from the Target Center and Target Field. Plans for a casino are still being talked about as part of the funding for a new Vikings stadium. Here is an article from the Star Tribune about the progress: http://www.startribune.com/politics/statelocal/132861048.html