4 private groups bid on former Speedway property in George Floyd Square

New proposals at 38th and Chicago

The old Speedway convenience store, now called “The People’s Way” at the corner of 38th and Chicago at George Floyd Square, now has four private groups bidding to purchase the property.

The property was bought by the city of Minneapolis after the Speedway closed and has been vacant for the past four-and-a-half years.

City Councilmember Andrea Jenkins represents the area and she told 5 EYEWITNESS NEWS not much is known about what the private groups would do with the property, but said it is a positive step toward progress and growth at George Floyd Square.

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“What I really hope is the revisioning and bringing the community into this process will open up the door for infrastructure work to proceed, too,” said Jenkins.  “It has to be community driven, and it has to be community-based, and I think that’s what these proposals are going to show them.”

The names of the groups who’ve bid on purchasing the old Speedway property and the amount they’ve bid are kept confidential until the city has vetted applications. The city plans to then hold pubic hearings and release the names of the four groups.

Jenkins expects the city to make that decision sometime before the end of February.