Community Planning & Economic Development

Phone: (612) 673-5095
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Photo courtesy of Elness Swenson Graham Architects, Inc.

Midtown Exchange

Location: Lake Street & Chicago Avenue

Status: Completed in 2006

Objective: The redevelopment of the historic 1928 Sears and Roebuck building on Lake Street addresses all five of CPED’s community development goals, providing jobs, housing and a major catalyst for the ongoing revitalization of the surrounding neighborhoods.

Description: The Midtown Exchange project demonstrates the potential of civic leadership, comprehensive community development, and public-private partnerships at their best. This 1.1 million square foot project revitalizes a south Minneapolis landmark with a dynamic new combination of office, residential, commercial, and community-oriented uses that build on the unique strengths of the surrounding community. Major components include the new headquarters of Allina Hospitals and Clinics, with over 1,500 employees; the vibrant Midtown Global Market, supporting new and expanding ethnic businesses; the Midtown Sheraton Hotel; a Hennepin County Service Center; and 307 units of new affordable and market-rate housing opportunities.

Partners: The City of Minneapolis acquired the former Sears property in 2001 and sought development proposals, selecting the Ryan Companies as the lead developer for the Midtown Exchange in 2004. The development team included Sherman Associates; Project for Pride in Living; Ryan/Wischermann Partners; Collaborative Design Group; Elness Swenson Graham; Urban Works Architecture; Close Landscape Architecture; Shea Architects; Perkins & Will; The Green Institute; Hess Roise; McGrann Shea; Real Estate Strategies; and Nelson, Tietz & Hoye. CPED expedited the site plan and development review processes, facilitated environmental clean up grants and provided financing.

Awards: National Trust Preservation Award

City Contact: Rebecca Parrell , (612) 673-5018

Online Reports:

May 18, 2004

November 7, 2007

August 12, 2008

Updated: January 25, 2010

Last updated Oct. 27, 2011