5 Opening Days Later, Target Field Pays North Loop Dividends

Updated: 04/07/2014 10:45 PM
Created: 04/07/2014 9:46 PM
By: Jay Kolls

This is the fifth opening day for Target Field, and we crunched the economic numbers which seem to show the investment is paying off for the North Loop district. 

Taxpayers poured $400 million into the Twins stadium. Money that was sold as an investment and it seems it was. Mark Serafin, co-owner of Darby's Bar and Grill says, "I think the stadium was the bullseye and as that became more saturated you get a ripple effect throughout the neighborhood."

Darby's Bar and Grill opened the same day Target Field opened with the owners betting on the North Loop's possibilities - just steps away from the stadium. Serafin tells KSTP, "and now you've got the other side over there developed where Cowboy Jack's used to be and now Billy's place over here. They're just springing up."

Before the Twins, a little more than 1,000 people lived in the North Loop. Since Target Field opened it's grown to more than 4,000 residents. Right now, 1,000 apartment and condo units are under construction all over the neighborhood.

Tony Rimarcik owns the Monte Carlo Restaurant and says the stadium "has been an economic adrenaline since it opened." 

It's an old school business that was there long before the neighborhood was known as the North Loop. Rimarcik says the stadium, along with light rail, has helped make the North Loop the fastest growing business district and neighborhood in Minneapolis.

"We have it right there on the bottom line year to year differences. The year the stadium opened - a couple thousand dollars a month more every month of the summer. And even more now than before," he says.

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