Pentagon Park

This Redevelopment TIF District was established in 2014 as part of a public-private partnership between Edina and Hillcrest Development to revive the declining commercial properties formerly known as “Pentagon Park.” The TIF District includes 40-acres of privately owned land that is subdivided by West 77th Street. The TIF District is adjacent to the 40-acre Fred Richards Park. The redevelopment of the Hillcrest properties is anticipated to occur over a 10-15 year period as market conditions evolve.

The City entered into a Master Agreement with the Developer to potentially use up to $54 million of future property taxes to fund roadway improvements, structured parking and other qualified site improvements. These monies are limited to new property taxes generated by new privately-owned development on the site. This Master Agreement is only a pledge; any use of TIF monies will be decided on a case-by-case basis as the developer secures final approvals for each phase of the project.

The site has been rebranded as The Link. The developer is diligently working to secure the right combination of elements, users and businesses that will transform this area into a vibrant mixed-use destination for generations to come.

District Map

Annual Report

TIF Plan

Narrative & Overview

Summary of TIF Proposal

Summary of Master TIF Financing for Pentagon Revival

Pentagon Revival Master Redevelopment Agreement

Pentagon Revival TIF Concept Plan

Pentagon Revival – zoning summary plans

The Link marketing materials

Developer Update – February 2015

Developer Update – October 2015
 

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