City, Shamrock Still Sparring Over Parcel Next to Pending Park Vista Condo Project
Monday, January 31, 2011 at 12:00AMFrom the Star Tribune:
Shamrock Development Inc. and Minneapolis city planners are sparring over a patch of land that the city owns near the Guthrie Theater.
The Coon Rapids-based developer in October submitted the sole proposal for developing 1100 2nd St. S. in the Mill District, a 9,730-square-foot plot, or less than a quarter of an acre, that the city owns. But the two still haven't struck a deal.
The city is asking $437,850 for the spot, which sits across the street from Gold Medal Park near the river and Interstate 35W. It's one of the last Mill District properties to be developed.
Price is the main sticking point but not the only one, said Miles Mercer, a project coordinator handling the sale with Minneapolis Community Planning and Economic Development. Mercer wouldn't describe the other issues.
Jim Stanton, the veteran developer who heads Shamrock, is tight-lipped. He won't say how important the land is to his plans for a new condo project next to the site. He would only say he wants the matter resolved.
Shamrock has proposed building a 150-unit condo building next to the parcel tentatively called Park Vista, and bought two bank-owned parcels on 12th Avenue S. and one at 1102 2nd St. S. for the project. The parcels had gone back to the bank after developer Steve Frenz tried unsuccessfully to develop a large upscale apartment complex there called the Marmont.
Stanton said he has no idea when he might break ground on Park Vista. Last fall he tangled with the city over the allowable number of parking spaces for the project.
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