Yesterday, the MoZaic project started construction by erecting a fence and doing other preparation work on site. The project, located on the surface parking lot behind the Lagoon Cinema, will bring 65,000 sq. ft. of Class A office space along with 13,000 sq. ft. of restaurant space by January 2012. The project also includes 436 stalls of structured public parking and 120 stalls of surface parking, which greatly improves public parking in Uptown by consolidating parking into several district facilities. A large public plaza along with a pedestrian/bike bridge and ramp will connect the core Uptown area with the Midtown Greenway trails at Girard Avenue.
Disclosure: The author of this blog works for The Ackerberg Group, the developer of the project.
The press release is below:
For immediate release
65,000 sq.ft. Class A Office and 13,000 sq.ft. Restaurant Space Under Construction in Uptown
January 26, 2011 | Minneapolis, MN – The Ackerberg Group announced that construction commenced today on MoZaic, a 65,000 square foot, Class A office and 13,000 square foot restaurant/commercial development project in the Uptown neighborhood of Minneapolis, Minnesota. The project is located on Lagoon Avenue between Hennepin and Fremont Avenues, just south of the Midtown Greenway, north of the Lagoon Cinema and adjacent to the Uptown Transit Station.
MoZaic is the first speculative office project initiated in Minneapolis since 2008. In addition to the office and restaurant space, the 10-story, mixed-use building will feature 436 structured parking stalls and 120 surface parking stalls. A large urban plaza will offer outdoor dining, public seating, and public art, adding add vibrancy to the plaza. The project will also provide much needed direct access to the core of Uptown from the Midtown Greenway bike and pedestrian trails by adding a new ramp and bridge at Girard Avenue.
Minneapolis Mayor RT Rybak said, “The MoZaic groundbreaking is a great victory for Minneapolis that is based on years of great work by the developer and the community to create a new Uptown landmark. We’re particularly pleased that MoZaic will bring more daytime office workers to Uptown and create an exciting new public plaza and Greenway connection and we can’t wait to see the finished product.”
The project will improve public parking in Uptown by nearly doubling the existing public parking on the site to over 550 stalls. The public parking ramp will occupy floors two through seven in the building and will feature a six-story “green” wall facing the plaza.
MoZaic is expected to be complete in January 2012 and will provide much needed Class A space in Uptown, a market known for limited open floor plates and few Class A buildings. The top three floors (floors 8, 9 and 10) of the building will contain office space totaling over 65,000 square feet. The floor-to-ceiling glass structure will step back on each floor to create deck space for tenants and add to the building’s architectural impact. Floor plates range from approximately 18,000 to 24,000 square feet and will feature unobstructed views of downtown Minneapolis, Lake Calhoun, Lake of the Isles, and south Minneapolis.
Minneapolis Ward 10 City Council Member Meg Tuthill expressed her enthusiasm for the project, commenting, “I am thrilled about the 65,000 square feet of office space in the MoZaic project because Uptown needs day jobs.”
Developer Stuart Ackerberg expressed being thrilled with beginning this important new project for Uptown, saying, “We are grateful to so many for their help and effort in getting this project started. We hope that the neighborhoods and community are proud of the completed development and the addition of a wonderful public gathering place at MoZaic. We are blessed to call Uptown home and add to its economy and vibrancy.”
A future phase of development is anticipated on the east side of the site and could accommodate 100,000 to 150,000 square feet of additional commercial, residential or mixed-use space.
In addition to The Ackerberg Group as developer, the project team consists of BKV Group as architect and Ryan Companies as general contractor.
Financing is being provided, in part, by MidCountry Bank and through Recovery Zone Facility Revenue Bonds issued by the City of Minneapolis and marketed by Dougherty & Company. Hennepin County’s Transit Oriented Development funds will assist in the funding of the pedestrian/bike bridge and trail connection to the Midtown Greenway.
For more information, please contact Stuart Ackerberg at 612-924-6400 or visit www.ackerberg.com .