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North Loop Green signals a bright future ahead for downtown Minneapolis

New development to open near Target Field in March
New development to open near Target Field in March 02:09

MINNEAPOLIS -- It's a bold statement from the developers of the North Loop Green: A new 14 story office building connected to a 36-story residential tower.

"This is one of the last big major pieces to kind of re-weave the fabric of the city back together," Bob Pfefferle, Managing Director of Hines said. "[It] Consists of about 365,000 square feet of office space and retail, as well as 350 units of market rate housing and another approximately 100 units of hospitality."

Tenants are already signing up to for office space and apartments featuring a laundry list of amenities, including a view of Target Field, and the promise of even more bars, restaurants and retail.

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"Placing a bet in 2021, on Minneapolis to build an almost million square foot mixed use building, you know, really signaled that even though Minneapolis was just coming out of COVID and a few other issues going on, that it's a great place to be," Pfefferle said.

"That's our secret sauce — a lot of people coming together, rubbing shoulders for different reasons and having a wonderful time in a safe environment. And that's what we've seen all year," said Steve Cramer, CEO of the Minneapolis Downtown Council.

Cramer says even though fewer people are working downtown, this project is an example of why downtown's future is still bright.

"The work week, the work day, has changed because of COVID, and that's probably going to be with us for a very long period of time," Cramer said. "But even given that buildings like North Loop Green, that are newer, that have tremendous amenities — they're going to continue to be a very attractive place for companies in the downtown area to locate."

Both towers are expected to open in early March.

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