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University Research Park Awaits Clean-Up Money

MINNEAPOLIS-The 13-acre first phase of the project is aimed at life sciences and technology ventures coming out of the University of Minnesota; the goal is to build 1.6 million sf of laboratory, manufacturing and office space, built over the next eight to 10 years.

By Jim McCartney | Updated on April 12, 2004

MINNEAPOLIS-The developers of University Research Park, a 65-acre park under development two blocks north of the University of Minnesota’s East Bank, is anxiously awaiting to hear if it will get $1.9 million in loans and grants to clean up. The Wall Cos. expects to hear May 1 from the state Department of Employment and Economic Development as to whether it will land the grants to start the cleanup, says John Wall, who heads the development project for Wall Cos. The land cleanup and demolition work must be done before it can start on its first phase of development. The 13-acre first phase would build about 365,000 sf of laboratory, technology and office space.

Ultimately, Wall’s goal is to develop 16 buildings totaling 1.6 million sf of laboratory, manufacturing and office space over the next eight to 10 years. A year ago, the Wall Cos. was named the exclusive developer of the property by the City of Minneapolis and the Minneapolis Community Development Agency (MCDA).

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