A proposal for a
extended-stay hotel in Minneapolis's Stevens Square neighborhood could transform a blighted empty lot near downtown.
plans are still being refined, the hotel is likely to have multiple
levels with about 100 rooms, plus retail spaces on the ground floor,
according to Steven Gallagher, who leads the Stevens Square Community Organization
(SSCO). Additionally, a glass and brick fašade would blend in with nearby buildings, he says.
says the neighborhood group welcomes the plan because the
three-quarter-acre site, which is partly owned by Gateway Commons LLC,
is a visible entry point to and from downtown. "It would spur
development along that corridor," he says, adding that the development will make for a better flow along Nicollet
Avenue's restaurant-filled Eat Street.
A 2008 Maxfield Research
market trade study analysis "identified this type of hotel as very financially viable," he says.
A lack of competition for the longer-stay hotel concept is one reason why it's a strong proposal, he says.
Also, the low land costs, plus its proximity to downtown--whose advantages include landmarks such as the Minneapolis Convention Center
in-progress developments, and the possibility of Nicollet Avenue streetcars--makes it a win-win, he says.
Armed with the Maxfield findings, SSCO has tried to recruit hotels to this spot in recent years, including Staybridge.
such as the cost and timeline are still coming together, but
construction could begin as early as the end of the year, according to
A presentation on the current plan will be made at the June 25 SSCO meeting.
Source: Steven Gallagher, executive director, Stevens Square Community Organization
Writer: Anna Pratt