The city of Minneapolis plans to open an office in a high-end apartment complex in the heart of downtown, as the city struggles to fill jobs.
The city said it plans to create more than 2,000 new jobs at the newly-opened, $1.4 million, $2.3 million and $2 million-plus office buildings in a former Sears warehouse on East Third Street, which houses the city’s downtown business district.
It will be called the Minneapolis Business Development Corporation, and it will be part of a larger city-owned space in the neighborhood that’s being built on land that’s currently owned by the city of St. Paul.
The complex is slated to open later this year.
Minneapolis will lease a 5,000-square-foot space in a new development at the same location that’s already occupied by a city-operated apartment complex.
The building will house a variety of tenants, including the city, the state of Minnesota and other entities.
The office space will be used by city officials to meet with the public and provide more information on how to access jobs.
City officials said they’ve been working with the property owners to help create the new space, which is being developed by the private equity firm RealtyTrac.
The company said it’s been working on the site since 2014 and that the space will have a wide variety of options for tenants, from retailers to healthcare organizations.
Realty Trac and other developers are looking to make Minneapolis the third largest city in the U.S. in terms of the number of jobs created each year.
It’s the third-largest office space in Minnesota and the third city overall, behind St. Cloud and Minneapolis.
The space will include a mix of office, residential and retail tenants.
The developers are also looking to build retail space in and around the site, which could include retail outlets for restaurants and shops, as well as a restaurant and grocery store.
They said they’ll be leasing the space from a private equity company, with an option to buy it at a future date.
A lot of people are excited to see that this is going to happen, said Minneapolis Mayor Betsy Hodges, who has called for more than 10,000 jobs to be created in Minneapolis over the next decade.
“This is something we’re going to be able to leverage, and I think it’s going to give us a huge boost to our economy,” she said.
In February, the city unveiled plans to make the site more accessible for business and residents to get to the site and work.
That includes a new pedestrian walkway and ramps from the existing city-managed parking structure to a new two-lane highway.
That highway will be maintained by the Minneapolis Metropolitan Council.