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Star Tribune land deal delayed

Star Tribune land deal delayed Click to Enlarge Photo:

Dec 27, 2013 at 3:20 pm

MINNEAPOLIS (AP) — The Star Tribune's sale of land in downtown Minneapolis to a developer has been delayed.

But the developer, Minneapolis-based Ryan Cos., still expects the sale to happen in the next 30 days.

The Star Tribune reports the sale was expected Friday. But the vice president of development for Ryan, Rick Collins, says the closing was delayed as details are worked out in a complex development agreement and bond issue that's part of the project's financing.

Ryan plans to build a $400 million project on five blocks now owned by the newspaper company. The project includes office space for about 5,000 employees of Wells Fargo & Co., up to 400 residential units, retail shops, a parking ramp and a public park.

Collins still expects ground to be broken in April.

JW Cox

Posted By JW Cox

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