Scott Neal, Eden Prairie City Manager

This is a big deal. This is an architectural rendering of the proposed Windsor Plaza development. The development is proposed for a site on Flying Cloud Drive (T.H. 212) west of the Eden Prairie Center mall, between Singletree Lane and Regional Center Drive. This area is currently occupied by some older two and three story office buildings, which would be razed if this development goes forward. The developer has either purchased or has purchase agreements in place with the properties that are proposed to be razed for this development. The developer has acquired the properties with private money. This City is not using eminent domain to help the developer acquire land for this project. The City is considering a tax increment development assistance package for the development, but will not use eminent domain to acquire development land.

The project is on its way to our Planning Commission and then it will proceed to the City Council yet this year. City staff are excited about this project because it is a strong sign of confidence in Eden Prairie that a private developer would undertake this project here. It’s also exciting because this development could be the catalyst for additional development in Eden Prairie’s new downtown area.

There’s a nice story about the project in today’s Eden Prairie News. Here’s an article from this week’s Twin Cities Business Journal that tells you more about the project:

+++++++++++++++++++++++++++++++++++++++++++++

$50M mixed-use project to help create

downtown

Minneapolis/St. Paul Business Journal – 2:53 PM CST Thursday

by John Vomhof Jr.

Staff Writer

Solomon Real Estate Group will build a $50 million mixed-use redevelopment project adjacent to Eden Prairie Center.

Windsor Plaza, located at Highway 212 and Singletree Lane, will include 35,000 square feet of retail space on the ground level, including two 7,000-square-foot, casual-dining restaurants. It also will include 110,000 square feet of office space on the building’s top four floors.

Solomon hopes to tap into

’s strong retail market and growing demand for office space. The project also figures prominently into the fast-growing suburb’s plans to create a downtown district around.

Solomon started planning the development about a year ago to tap into the energy around

, especially after the mall was remodeled in 2001.

“You’ve got a lot of history within the retail community of success with

and the renovation, and you’ve got a number of new tenants interested in moving into that project or around the peripheral,” said Solomon Principal Jay Scott.

Solomon will ask

for $4.5 million in tax increment financing to fund road, sidewalk and other improvements.

Solomon also developed the nearby

Fountain Place retail center, which opened in summer 2005. That 120,000-square-foot development leased out quickly and the tenants have performed well.

That encouraged Solomon to pursue more retail in the area. The company added the office space to justify the land-acquisition and construction costs.

Solomon had to acquire four properties for the project. The roughly 5.5-acre site previously housed Northwest Technical Institute, a BP Amoco station and two office buildings.

Minneapolis-based commercial real estate firm Griffin Cos. is leading Solomon’s search for retail tenants, while Bloomington-based United Properties will oversee office leasing.

Griffin Cos. Vice President Linda Zelm expects to land restaurant tenants within three months and the rest of the retailers within nine months.

The response from prospective tenants has been “very enthusiastic,” she said. “There has been so little new retail in

, especially in that particular area. There is just no vacancy.”

likely will include four to eight retailers, not including the two restaurant anchors. The retail space could include other smaller restaurants, such as sandwich shops.

Other retailers likely will include upscale retailers such as furniture stores, home accessories shops and jewelers.

Scott also predicts healthy demand for the office space.

“The office market here is turning the corner,” he said.

will represent one of the first steps in ’s plan to create a town center aroundthat will bring developments closer to the street and make the area more walkable. The plan models similar developments in other Twin Cities communities, such as and Woodbury.

“The vision is that this would be a community focal point — downtown

if you will,” said Janet Jeremiah, the city’s community development director. “This would be a place where people could gather for shopping, they would work here and they could choose to live here and perhaps drive less to local services and the like.”

The plan will go before the

planning commission later this month and then on to the full City Council on Dec. 19.

jvomhof@bizjournals.com | (612) 288-2101