Real Estate Recycling (RER) principal Paul Hyde can still believe that “within every dark cloud there is a silver lining” after his firm’s industrial warehouse building project was delayed one week by wet May weather. In this case, the silver lining is that the firm secured its building permit, construction is underway at the site near 49th Ave. N. and Osseo Rd., and the environmental remediation required is just as projected by the RER’s consultant. Previous environmental investigation by Geomatrix identified fill soils impacted by polyaromatic hydrocarbons (“PAHs”), a carcinogenic compound, as well as diesel range organics (“DRO’s).
Despite the project delay, pollution remediation work at the site was scheduled for completion by May 20, after which the contractors will be pouring footings for the new construction. Building construction is scheduled to begin June 1.
Camden News readers may recall the development proposal will result in construction of a 128,800 sq. ft. industrial warehouse with 243 stalls of surface parking at the 10-acre tract in the Humboldt Industrial Park, just south of the Shingle Creek neighborhood. In addition to support from the abutting neighborhoods, Council President Barbara Johnson and County Commissioner Mike Opat supported the project. RER received pollution clean-up grant funding from the Hennepin County Environmental Response Fund, the Metropolitan Council Livable Communities Fund Tax Base Revitalization Grant Program, and the Minnesota Department of Employment & Economic Development Contamination Cleanup Grant Program. The development project also received Tax-Increment Financing funding from the City.
“The success of the Humboldt Industrial Project,” said Paul Hyde, “demonstrates the strength of this site.” He indicated that RER has signed a lease for 25,000 sq. ft. at the east end of the development with Cinequipt, a northeast Minneapolis firm that provides lighting, film, lenses and cameras for the commercial photography and movie making industries. Hyde said the firm should be moving into the new space by November. RER is currently negotiating with four other firms; successful leases with just two or three will fully lease up the building. Hyde concluded that the potential occupants represent a “good mix of local businesses and multinational corporations.”
A June groundbreaking ceremony is being planned by RER for the Humboldt Industrial Park to celebrate its success and to recognize the strong partnerships with Shingle Creek Neighborhood Association, the City of Minneapolis, and other agencies that provided project funding. For updates visit www.neighborhoodlink.com/minneapolis/shingle/.