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SPORTS&ENTERTAINMENTCORRIDORBruceLambrecht6123492775DaveAlbersman6123492778Aron Kahn6512220711
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TheSportsCorridorRevisited
VikingsStadiumSiteComparison
TheSports&EntertainmentCorridor
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RapidPark 1999RapidPark 1999
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Sitetoosmallandnexttogarbageburner
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TwinsBallpark(RenderingbyAlbersman&Armstrong,Ltd. 2000)
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TwinsBallpark(RenderingbyAlbersman&Armstrong,Ltd. 2000)
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TheSportsCorridor(RenderingbyAlbersman&Armstrong,Ltd. 2002)
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TheSportsCorridor 2002 RenderingbyDuncanMalloch
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Vikings StadiumSiteSelection:
Farmers
Market
Metrodome
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FarmersMarketSiteLocation
47 Acres47 Acres
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Metrodome SiteLocation
22 Acres22 Acres
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Issues:
LandAssembly
LandValueInterimLocation
Parking/RoadwayAccess
Busand RailTransit
Skyway System
Bars
and
RestaurantsRedevelopmentNeed
HighestandBestUse
BrandingRights
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LandAssembly FarmersMarket
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LandAssembly Metrodome
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Issues:
LandAssembly
LandValueInterimLocation
Parking/RoadwayAccess
Busand RailTransit
Skyway System
Bars
and
RestaurantsRedevelopmentNeed
HighestandBestUse
BrandingRights
FarmersMarketSite Metrodome Site
+
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CityofMpls LandCost Analysis:
FarmersMarketSite Metrodome SiteLowEstimate HighEstimate LowEstimate HighEstimate
Infrastructure: $69Million $181Million $30Million $70Million
PropertyAcquisition: $47Million $47Million $0 $0
Demolition: $3Million $4Million $3Million $4Million
Totals: $119Million $232Million $33Million $74Million
Difference: $86Million $158Million
more than morethanMetrodome Metrodome
Source: JimNelsonofEberhardt Advisory
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LandValuation Comparison:
FarmersMarketSite Metrodome SiteValue/S.F.1 Value Value/F.T. 1 Value
AssessedMarketValue: $14.84 $16,160,000 $32.58 $35,480,000
RecentSales: $17.25 $18,785,000 NoRecentSales3
50%CostPremium:2 $22.26 $24,241,000 $48.87 $53,220,000
Source: HennepinCountyAssessorsOffice1 Basedon25Acres2 50%increaseoverassessorsmarketvalue.3 Onesale in2001ofbarelandfor$48.sq.ft.
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Issues:
LandAssembly
LandValueInterimLocation
Parking/RoadwayAccess
Busand RailTransit
Skyway System
BarsandRestaurants
RedevelopmentNeed
HighestandBestUse
BrandingRights
FarmersMarketSite Metrodome Site
+
+
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InterimLocation
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Issues:
LandAssembly
LandValueInterimLocation
Parking/RoadwayAccess
Busand RailTransit
Skyway System
BarsandRestaurants
RedevelopmentNeed
HighestandBestUse
BrandingRights
FarmersMarketSite Metrodome Site
+
+
+
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FarmersMarketSite Parking
Source: CityofMinneapolis,andaerialsurveyusingGoogleEarthPro
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FarmersMarketSite Parking
Garage Parking: 8,000 (55%)Surface Parking: 6,600 (45%)Total Parking: 14,600 (100%)
Garage Parking: 8,000 (55%)Surface Parking: 6,600 (45%)Total Parking: 14,600 (100%)
0 Blocks,
50 Stalls
SITE
Source: City
of
Minneapolis,
and
aerial
survey
using
Earth
Pro
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FarmersMarketSite Parking
Average WalkingDistance = 3.2 BlocksAverage WalkingDistance = 3.2 Blocks
0 Blocks,
50 Stalls
SITE
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FarmersMarketSite RoadwayAccess
53% of all
parkinghas directfreeway
access
53% of all
parkinghas directfreeway
access
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Metrodome Site Parking
Source: City
of
Minneapolis,
and
aerial
survey
using
Earth
Pro
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Metrodome Site Parking
SITE
Garage Parking: 5,600 (44%)Surface Parking: 7,000 (56%)Total Parking: 12,600 (100%)
Garage Parking: 5,600 (44%)Surface Parking: 7,000 (56%)Total Parking: 12,600 (100%)
Source: City
of
Minneapolis,
and
aerial
survey
using
Earth
Pro
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Metrodome Site Parking
SITE
Average Walking
Distance = 3.6 Blocks
Average Walking
Distance = 3.6 Blocks
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Metrodome Site RoadwayAccess
10% of allparking
has directfreewayaccess
10% of allparking
has directfreewayaccess
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Issues:
LandAssembly
LandValueInterimLocation
Parking/RoadwayAccess
Busand RailTransit
Skyway System
BarsandRestaurants
RedevelopmentNeed
HighestandBestUse
FarmersMarketSite Metrodome Site
+
+
+
+
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FarmersMarketSite BusandRail
Hiawatha LightRail & Future
Central Corridor
NorthStar
Commuter Rail
ProposedSouthwest Line
to Eden Prairie
Future CommuterRail Extension
RailStations
ProposedBottineau Line
5 Rail Lines5 Rail Lines
Cedar Lake
Bike Trail
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Metrodome Site BusandRail
Hiawatha LightRail Line
Central CorridorLine (2014)
Rail
Stations
2 Rail Lines2 Rail Lines
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Issues:
LandAssembly
LandValueInterimLocation
Parking/RoadwayAccess
Busand RailTransit
Skyway System
BarsandRestaurants
RedevelopmentNeed
HighestandBestUse
BrandingRights
FarmersMarketSite Metrodome Site
+
+
+
+
+
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FarmersMarketSite SkywaySystem
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Metrodome Site SkywaySystem
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Issues:
LandAssembly
LandValueInterimLocation
Parking/RoadwayAccess
Busand RailTransit
Skyway System
BarsandRestaurants
RedevelopmentNeed
HighestandBestUse
Branding
Rights
FarmersMarketSite Metrodome Site
+
+
+
+
+
+
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FarmersMarketSite BarsandRestaurants
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Metrodome Site BarsandRestaurants
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Issues:
LandAssembly
LandValueInterimLocation
Parking/RoadwayAccess
Busand RailTransit
Skyway System
BarsandRestaurants
RedevelopmentNeed
HighestandBestUse
Branding
Rights
FarmersMarketSite Metrodome Site
+
+
+
+
+
+
+
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FarmersMarketSite RedevelopmentNeed
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Metrodome Site RedevelopmentNeed
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Issues:
LandAssembly
LandValueInterimLocation
Parking/RoadwayAccess
Busand RailTransit
Skyway System
BarsandRestaurants
RedevelopmentNeed
HighestandBestUse
Branding
Rights
FarmersMarketSite Metrodome Site
+
+
+
+
+
+
+
+
F M k Si Hi h d B U
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FarmersMarketSite HighestandBestUse
Metrodome SiteMetrodome Site
Farmers Market SiteFarmers Market Site
F M k Si Hi h d B U
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FarmersMarketSite HighestandBestUse
CentralBusinessDistrict
CentralBusinessDistrict
Riverfront
Housing
Riverfront
Housing
Univ.
of MN
Univ.
of MN
ElliotNeighborhood
ElliotNeighborhood
MedicalMedical
North Loop &Warehouse
North Loop &Warehouse
SportsSports
TheatersTheaters
F M k t Sit Hi h t d B t U
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FarmersMarketSite HighestandBestUse
Housing, Medical
and Educational
Housing, Medical
and Educational
Sports andEntertainmentSports andEntertainment
Metrodome Site
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Metrodome Site
DowntownEast/NorthLoopMasterPlan
Metrodome
VikingsStadium
I
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Issues:
LandAssembly
LandValueInterimLocation
Parking/RoadwayAccess
Busand RailTransitSkyway System
BarsandRestaurants
RedevelopmentNeed
HighestandBestUse
Branding
Rights
FarmersMarketSite Metrodome Site
+
+
+
+
+
+
+
+
+
B di Ri ht
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BrandingRights:
Stadium
GatesRoadways
FarmersMarket
PlazasTransportationCenter
Other
I
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Issues:
LandAssembly
LandValueInterimLocation
Parking/RoadwayAccess
Busand RailTransitSkyway System
BarsandRestaurants
RedevelopmentNeed
HighestandBestUse
Branding
Rights
FarmersMarketSite Metrodome Site
+
+ +
+
+
+
+
+
+
+
Summary:
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Selectingthebestlocationismoreimportant
thansimpleimplementation
Agoodlocationwithflawscanberemedied,a
badlocationwithoutflawscannotberemedied
ThestadiumontheMetrodome siteisnot
compatiblewithcurrentemergingdevelopment
FarmersMarketsitewouldgivemuchneeded
boosttothisareaofNorthMinneapolis
Summary:
The Sports and Entertainment Corridor
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TheSportsandEntertainmentCorridor
The Sports and Entertainment Corridor 2011
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TheSportsandEntertainmentCorridor 2011
Metrodome
VikingsStadium
The Sports and Entertainment Corridor 2011
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FarmersMarket
FutureTransit Center Energy
Resource
Center
FootballFootball
BaseballBaseball
BasketballBasketball
TheSportsandEntertainmentCorridor 2011
TwinsPlaza
Future LRT Extension
VikingsPlaza
LRTStation
Target Field
Station
Theater,
Entertainment,Casino
Theater,
Entertainment,Casino
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Greatideas drawcapital.