Document - Historical information/data - Cedar Grove - 10/20/2011
Thursday, October 20, 2011
Cedar Grove Development Picture Getting Clearer
Senior housing and office space may be among the first pieces of the redevelopment picture for
Eagan "gateway" area. By Troy Thompson
Credit Mary Jo Koplos
Cedar Grove Update
The Village of Cedar Grove is being actively marketed and there have be several promising
contacts.
Eagan’s Cedar Grove Development Area picture became a little clearer Tuesday night when
representatives from the site’s redevelopment team presented an upbeat update to City Council
members during their regularly scheduled meeting.
Leonard Pratt of Pratt Development, the site’s master developer, said there are five potential
development verticals that are running a “parallel track” that could soon come to fruition.
None of current suitors fall in the retail category, but Pratt says if the current slate of projects
coalesces, retail development will inevitably follow suit.
“Energy begets energy,” said Pratt. “If everything else begins to gel, those folks will jump on board.”
Developers say the housing density around Cedar Grove is not as attractive for major retailers. But
that isn’t keeping business and residential developers from being intrigued about the site’s prime
location. And many of those groups are moving forward.
Pratt informed the council of what he said were projects “in the queue.” Those projects include:
A senior housing rental development
Market-rate residential apartments
An office building tower
Flexible independent office buildings
Hospitality and restaurants
Of those listed, Pratt indicated the senior housing rental development and an office complex could
begin construction as early as spring of 2012.
Jim McCaffrey, the senior vice president of marketing and brokerage firm Cassidy Turley, said he
was encouraged at the interest in Cedar Grove and that Eagan’s gateway vision project was
attracting some of the top players in the marketplace.
“There’s more activity in Cedar Grove right now than many other listings on the market,” McCaffey
said.
Despite the tepid retail response to date, developers are excited about the future of the mixed-use
area surrounding one of Eagan’s main thoroughfares at Cedar Avenue and Hwy. 13.
“We wanted to cast our nets out wide,” said Pratt. “We want to get the message out that we’re
(Cedar Grove) open for business.”
Eagan has been targeting the Cedar Grove area for revitalization for more than a decade and
recently cleared a wider path toward achieving their vision of a vibrant gateway area by purchasing
and relocating some businesses in the area.
The city’s vision for the area has been revised multiple time since revitalization efforts began and
now focus on making the area a “strong, vibrant gateway to the City of Eagan by creating a viable
mixed-use area.”