The owners of the long-struggling Block E in downtown Minneapolis say they plan to renovate the site to be a practice facility for the Minnesota Timberwolves and Lynx pro basketball teams.
Provident Real Estate Ventures, which manages the site for owners Camelot LLC, said today that the renovation will also include restaurant and office clients.
An anchor tenant letter of intent has been signed and lease negotiations are under way, they said.
Security will be a priority in the new project; managers say since the new ownership took over in 2010 they’ve already “dramatically improved security conditions associated with the block’s checkered history.” Block E, they say, “is no longer synonymous with crime.”
A statement from the Provident says:
Nearly 120,000 square feet of reconstructed, high-ceilinged, well-daylit space will be available at skyway and street levels surrounding a rethought, more connective interior public corridor. Existing tenants Kieran’s Irish Pub, The Shout House Dueling Pianos, Starbucks and Jimmy John’s will remain in the project.
Redesign of the exterior and interior is expected to be completed by late next year.