"This was the last approval needed in order for construction to begin on our new corporate campus," says Della Kolpin, director of the Best Buy campus project. "Today's action will allow us to break ground this summer. We're very pleased to move theproject forward."
Best Buy says its developer, Opus Northwest, will go ahead and start tearing down buildings on the site in spite of a slew of lawsuits challenging the project. Some neighborhood residents and other citizens object to the potential for more traffic and pollution, while the owner of the Walser car dealership objects to being forced from a prime location.
A related project is the replacement of the Penn Avenue bridge over I-494, and both Best Buy and Opus officials argue that a delay could be harmful. Best Buy announced in January 2000 that it would relocate its corporate campus from Eden Prairie to Richfield to accommodate a growing workforce and company.
Plans are for a $160-million corporate campus with four buildings and common facilities for up to 7,500 employees at I-494 and Penn Avenue.
The company commissioned a economic impact study that concludes relocation of Best Buy to Richfield will result in additional revenue to the city as a result of an increased tax base; the benefits of $14 million being spent in Richfield by the additional employees,and $14 million in loans and funding for the construction of a new Penn Avenue Bridge.
Best Buy plans to move into the new facility in late 2002.
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