MCDA officials call the move "a significant step forward in developing the Historic Mills District as a cultural, business and residential area." The Minneapolis planning commission also recommended MCDA's master-plan-guided redevelopment and TIF plans for Depot East, which is next to CSM's Milwaukee Depot project.
The MCDA will provide $3.3 million in tax increment financing, contribute $300,000 toward site acquisition and $525,000 toward pollution remediation.
In addition, the project will result in $320,000 being contributed to the MCDA's affordable housing fund. The overall design for the area includes severalelements:
* A four-story building with offices, a restaurant and retail space.
* A 22-unit market-rate, owner-occupied housing component.
* A 270-space parking facility -- either below ground or hidden by other buildings -- with private garages for the residences.
* A new home for the MacPhail Center for the Arts.
Construction is expected to be completed by the end of 2004.
MacPhail officials say the attraction of the site at 2nd Street and Portland Avenue South near the Mississippi riverfront is its proximity to other arts and cultural organizations, such as Open Book, the new Guthrie Theater and the Minnesota Historical Society's Mill City Museum. Together, these organizations will create a new "cultural corridor" in Minneapolis, they say.
The joint project being developed by CSM Corp. and MacPhail will allow MacPhail to increase its space by 35% with a 70,000-sf, four-story building to be completed in fall 2004. The site will become the new home for MacPhail's music education programs, nowserving 6,000 students of all ages.
MacPhail has spent nearly eight decades in its current location at 12th and LaSalle in Downtown.
MacPhail has hired Chicago-based design firm Nagle Hartray Danker Kagan McKay, which has designed a number of high-profile projects, including Harpo Studios for Oprah Winfrey and WBEZ, Chicago's public radio station.
To build the new home, the school will embark on its first fundraising campaign with a goal of more than $12 million, which will be used to purchase the site and construct the new facility.
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