This Renewal TIF District was established in 2018 to support redevelopment of the vacant Edina Cleaners property. Upon completion, this project will deliver new housing and retail space, along with shared public parking, a new public plaza and new streetscaping. Three of the 46 new apartments will be affordably priced and designed for residents with physical disabilities. The total project cost is estimated to be $29 million.
The City executed a redevelopment agreement to pledge future incremental property taxes to the developer to reimburse them for up to $2.295 million in eligible expenses. Ground-breaking occurred in May 2019 and completion is anticipated in 2020.