MINNEAPOLIS (WCCO) – The first Hy-Vee supermarket in the Twin Cities looks like it will go up in the northwest Minneapolis suburb of New Hope.

The city says its council approved a purchase agreement Monday to sell the former Kmart and Wells Fargo site on 4200 Xylon Ave. North to the Iowa-based grocery store chain, which has been eyeing a move into the Twin Cities metro market.

For the New Hope site, Hy-Vee will pay the city $3,725,000, a city press release said.

The new store is expected to bring 400-500 jobs to New Hope, and cost around $15 million to build. Hy-Vee plans to open the store next fall.

The city also approved the grocer's 90,000 square foot store plan.

The store will feature a 65,000 square foot grocery space, encircled by a restaurant, deli, wine shop, bakery, and an organic food section, the press release said.

Hy-Vee has 230 stores across the Midwest, with 17 Hy-Vee stores in southern Minnesota.

The first Hy-Vee in Minnesota opened in 1969.