Minneapolis school board OKs sale of Lake Street building for redevelopment

Minneapolis/St. Paul Business Journal

By: Dirk DeYoung

Published: May 28, 2014

The Minneapolis School Board Tuesday night approved selling a building at Hiawatha and Lake Street in Minneapolis to Hennepin County for $8 million, a site that will eventually be redeveloped for housing and retail.

The Star Tribune reports that the deal includes assurances that key school district programs can continue there for up to eight years. The county is expected to sell the 2225 E. Lake St. building to L&H Station Development, which has proposed 500 units of housing, 100,000 square feet of office space, 10,000 square feet of retail and space for the Midtown Farmers Market, the story said.

The district is looking for a site for a new building to house the programs now in the 2225 building, possibly near the Midtown YWCA and South High School.

L&H Station Development, a partnership of Minneapolis-based BKV Group and Roseville-based Launch Properties has been planning a development at the area for years.