MINNEAPOLIS-A block that for years has sat virtually vacant inDowntown Minneapolis is about to be redeveloped into amulti-use entertainment complex.

Construction will start this week on the 200,000-sfhotel, entertainment and retail facility that will turn oneof the toughest blocks on Hennepin Avenue into one ofthe most attractive, say city officials.The properties, scheduled to be completed in twoyears, will feature anchor tenants such as a 255-roomRenaissance hotel by Marriott, a 17-screenstadium-seating movie complex by Crown Theaters andGameWorks, a Steven Spielberg venture that combinesstate-of the-art interactive entertainment with foodand drink.

City officials envision Block E as a critical linkbetween Minneapolis’ warehouse district and Downtownretail center, which they say will strengthen its arts andentertainment district. GameWorks and the moviecomplex will also attract families, a high prioritywith city officials.”Block E now stands for Entertainment andExcitement,” says Daniel McCaffery, president ofChicago-based McCaffery Interests.

The recent signing of GameWorks has helped speed up leasing the rest of the retail space in thecomplex, McCaffery notes. Financing for the retailportion of the Block E project will be provided byULLICO, the Union Labor Life Insurance Co. ofWashington, DC and an advisor to union pensionfunds.

The Renaissance Hotel will be financed by AssociatedBank Minnesota, based in Green Bay, WI. The hotelwill also offer 8,000-sf of meeting and ballroomspaces.The project, which is receiving assistance from theMinneapolis Community Development Agency, will alsoinclude underground parking for 500 vehicles.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.