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Ryan Companies Proposal Recommended for 'Air Space' Near Vikings Stadium

Updated: 03/14/2014 5:07 PM
Created: 03/14/2014 3:57 PM KSTP.com
By: Cassie Hart

Minneapolis-based Ryan Companies may have an edge over Golden Valley-based Mortenson Construction to build on the "air space" near the new Vikings stadium. 

On Friday, the Department of Community Planning and Economic Development of Minneapolis recommended Ryan Companies' proposal, saying the city would make $4 million more from it than Mortensen Construction's proposal.

The project includes 150 hotel rooms, branded as a Radisson Red, built under a 200-unit apartment tower, as well as ground-level restaurant and retail space. The $101 million project could start in May 2015 and finish in August 2017.

Mortenson's competing proposal includes a 300 room hotel, branded as an AC by Marriott and SpringHill Suites by Marriott. The $63 million project is proposed to start in January 2016, and would take a year to build.

Both proposals are in addition to a blocks-long makeover proposed near the Vikings stadium for the $400 million Downtown East mixed-use project.

The Minneapolis City Council has the final say on who will get to build on the "air space" above a 1,600 stall parking lot.


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