Developers Unveil Plans for 'Dayton's Project' in Downtown Minneapolis

October 26, 2017 08:48 AM

At a press conference Monday morning, the owners of the former Macy's building in downtown Minneapolis unveiled new design plans that call for a $250 million investment.

With 1.2 million square feet to renovate, the building's office spaces are set to open in early 2019, with retail and the rest of the building's offerings following later that year. In a nod to the popular former store, it is being called the "Dayton's Project."

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The property was acquired by New York-based 601W Companies for $59 million earlier this year, following the closure of Macy's flagship store. The company partnered with The Telos Group, LLC to come up with the design.

RELATED: Macy's Completes Sale of Downtown Minneapolis Location

The upper floors are being developed for big, unique office spaces. The lower two floors will feature retail space, while a food market for dozens of vendors is planned for an underground level.

RELATED: Former Macy's Site Redevelopment to Include Retail, Food, Entertainment Options

Brian Whiting, the President of The Telos Group, said he envisions the building being a seven-day-a-week destination, breathing even more new life into downtown.

"I hope they look forward to coming here for lunches, for after-hour work events, for evening food and entertainment and for sporting events," Whiting said. "What we hope to be is that sort of cultural entertainment center for the entire downtown." 

Credits

Tyler Berg and Joe Mazan

Copyright 2017 - KSTP-TV, LLC A Hubbard Broadcasting Company

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