Two decades ago, Harris converted a series of older buildings at Lake Street and Hennepin Avenue into a retail and entertainment complex that became a successful urban shopping enterprise. The project is located at 3001-3027 Hennepin Ave.
Many of the tax benefit of the project are already played out ,and the owners are in their 70s. Lately, however, the shopping center has lost a few tenants, and some retail experts think the complex could benefit from new owners.
Among the current tenants are Figlio and Famous Dave's restaurants, Bay Street Shoes, Kitchen Window cooking goods store and Borders Books, as well as a HealthPartners clinic and a Bremer bank branch.
Unlike such urban specialty center projects as Galtier Plaza in downtown St. Paul or St. Anthony Main near downtown Minneapolis, both of which have closed, Calhoun Square has done well over the years. Industry sources say that there are about a dozen bidders on the project; a sale is expected to be done in the first quarter of next year.
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