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$100M Wayzata Bay Redevelopment on the Drawing Board

WAYZATA, MN-The 60s-era 127,000-sf shopping center will be torn down in stages to allow the 22 tenants to continue without interruption. United Properties has joined with the owners to plan and build a retail and residential project on the 16-acre site.

By Jim McCartney | Updated on May 20, 2005

WAYZATA, MN-The 60s-era Wayzata Bay Shopping Center–long a retail mainstay in this upscale suburb–is slated to be torn down in stages and replaced with a $100-million residential and retail project.

Superior Lake Street Properties (SLSP) and United Properties said Friday they have formed a joint venture to study and propose a redevelopment plan for the landmark 16-acre site, located at Superior Boulevard and East Lake Street.

SLSP, whose principal partners include lifelong Wayzata business and civic leaders Gordy Engel, John Berg and Ray Mithun, Jr., bought the property in December 2004 after its previous Germany-based owner abandoned plans to redevelop the site.

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