ROSEVILLE, Minn.--(BUSINESS WIRE)--Sep 30, 2019--
Fifty years after it first opened its doors, Roseville Center announced plans to significantly expand the center by redeveloping a part of the property to create new housing, a hotel, a grocery store, and other new retail space. JLL, Rosedale’s management team, will soon submit formal plans to the City of Roseville to begin the process of review and permits for the proposed expansion. The company hopes to begin initial construction work next year on what will be a phased project.
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Rosedale Center is planning a significant redevelopment (Photo: Business Wire)
“Rosedale Center is a very successful shopping and retail center because it has continued to grow, evolve, and change,” said Lisa Crain, JLL Rosedale Senior General Manager. “Our vision and these exciting plans build on this success by transforming Rosedale into a place to live, work, eat, as well as shop for even more things than you can today. Not only are we celebrating our 50th anniversary, we are also incredibly excited about the future and making sure this continues be a destination for the region.”
“The plans, vision, and the commitment to invest in the center are great news for Rosedale Center and important for our community,” said Pat Trudgeon, City of Roseville City Manager. “Helping us add more housing and hospitality options to our city while also expanding retail and other commercial space makes the partnership between us even stronger.”
“Rosedale is a regional destination that not only brings millions of people to our community, it also enhances the quality of life here through the stores, restaurants, and retail it offers,” said Julie Wearn, CEO of Roseville Visitors Association. “At a time when unfortunately, other retail centers are looking at how to deal with contraction, this is investing with a vision for an even stronger future. Adding more places to live, a new hotel, and other shopping is great news for Roseville and will help us bring more people, events, and excitement to our community and region.”
“The plans for Rosedale’s future connected to the fact it has been open for 50 years shows the strength our community and what we can do into the future,” said Mary Jo McGuire, the Ramsey County Commissioner who represents Roseville. “The jobs and tax base the center create are important and help us support the broader community. Seeing the plan and how Rosedale will continue to grow and transform sends an important message to our community about the vibrancy of Ramsey County.”
The project will be privately financed and built in phases. The mall’s leadership team is working with different partners for the hotel, housing, grocery store and other new elements and will release additional information as the process moves forward.
About the Rosedale Redevelopment Information
JLL Rosedale’s plan will redevelop the former Herberger’s department store and the surrounding space on the center’s south side. Click here to access renderings of the proposed plans. The expansion project is designed to create a mixed-use, urban-style center that will include multi-family residential units, new open-air retail space that may include a new grocer, a variety of restaurants, fitness users, boutique retailers and co-working space, a potential new hotel, medical office building, and outdoor community event space
The project will be privately financed and built in phases. The mall’s leadership team is working with different retail partners for the hotel, housing, grocery store and other new elements and will release additional information as the process moves forward. The expansion plans closely align with the City’s comprehensive plan. The project will need to secure a conditional use permit for the new housing, something that is required as a part of the comprehensive plan.
The City of Roseville will review the plans as the project moves through the process to secure needed approvals. JLL hopes to be able to begin initial construction work in 2020.
Rosedale attracts more than 14 million visitors each year, and is the largest employer and taxpayer for the City of Roseville, paying almost $5 million annually in property taxes. It has a shopper origin population of more approximately 1,562,308 people – that is about 45% of the population of the Twin Cities MSA, generating more than $12 million in sales taxes each year from its estimated $160 million in sales.
About Rosedale Center
Rosedale Center is centrally located between the Twin Cities of Minneapolis and St. Paul. Rosedale Center is a 1,218,861 square foot shopping center featuring 160 retailers including AMC Theatres, JCPenney, Macy’s, Rose & Loon, and Von Maur. Rosedale Center attracts more than 14 million visitors annually and is rated a top shopping destination in Minnesota. For more information on stores, events, and programs, please visit rosedalecenter.com.
JLL is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people, and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and global workforce of 83,500 as of March 31, 2018. JLL is the brand name and registered trademark of Jones Lange LaSalle Incorporated. For further information, visit ir.jll.com
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CONTACT: Mike Zipko
KEYWORD: UNITED STATES NORTH AMERICA MINNESOTA
INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY DEPARTMENT STORES URBAN PLANNING FASHION RETAIL RESIDENTIAL BUILDING & REAL ESTATE
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PUB: 09/30/2019 09:00 AM/DISC: 09/30/2019 09:01 AM