$400M Downtown East development a go - New York News

$400M Downtown East development a go

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MINNEAPOLIS (KMSP) -

After the state approved financing for a new Vikings stadium, Minneapolis came up with its own plan to mold the Downtown East plaza with two new office buildings, a parking ramp and a two-block city park. Now, a Hennepin County judge is giving Minneapolis the go-ahead to turn its rendering into a reality.

Hennepin County judge Melvin Dickstein denied a request for a temporary restraining order against the $400 million development filed by former Minneapolis mayor candidate Stephanie Woodruff and Dan Cohen and former city council member Paul Ostrow. Now, the Minneapolis City Council can issue $65 million in bonds to pay for the park and parking ramp.

While the city council can buy the two block now owned by the Star Tribune to turn into the park, to be dubbed "The Yard," the judge also ruled the city doesn't have the authority to develop and operate the park and must eventually turn the land over to the Minneapolis Parks and Recreation Board or face a future lawsuit

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