Two Bader Development Projects Receive Cleanup Funds
700 Central - one of two Bader Development projects slated to receive environmental cleanup funds.

Two Bader Development Projects Receive Cleanup Funds

POSTED 7/9/2015

The Minnesota Department of Employment and Economic Development (DEED) said Wednesday the grants will create or retain 464 jobs. Projects planned for the polluted sites range from schools to hotels to residential and retail.

Thirteen polluted sites across Minnesota will be investigated or cleaned up thanks to $3.57 million in grants from the state's economic development agency.

Minneapolis, 700 Central Avenue., $644,411

Minneapolis was approved for $644,411 in cleanup funding for this 0.96-acre site polluted with petroleum, metals and other contaminants. The site previously was used for furniture finishing and storage. Redevelopment plans call for restoring two existing buildings for a mixed-use development offering 60 residential units and 10,000 square feet of commercial space. The project will create 20 jobs and increase the tax base by $189,740. Matching costs will be paid by the developer and other grant sources.

St. Louis Park, Shoreham, $625,075

St. Louis Park received $625,075 in cleanup funding for this 2.23-acre site polluted with petroleum and other contaminants. The site previously held a mix of commercial and residential space. Official plan to build a 150-unit, mixed-use apartment building that will include 20,000 square feet of commercial space for a clinic. The project will create 54 jobs and increase the tax base by $480,318. Matching costs will be paid by the developer and other grant sources.

See more at the Minneapolis / St. Paul Business Journal.