After Dominium Development dropped out of plans to construct an apartment building in Champlin's Mississippi Crossings redevelopment project earlier this year, the city has now hired the real estate firm Cassidy Turley to market the property to prospective developers.
Cassidy Turley's Senior Vice President Jim McCaffrey and Associate Vice President Julie Lux will market the city-owned 60-acre site at the convergence of the Mississippi and Rum rivers, across from the town of Anoka. Champlin has invested more than $15 million to buy several parcels of land for the development and for infrastructure improvements.
The redevelopment calls for 450 residential units and 185,000 square feet of commercial space. The plan also includes a two-story restaurant/event center and a village green with river dockage. According to Cassidy Turley, the redevelopment will "reflect Mississippi Crossings' history as a landing for migrating steamboats in the mid-1800s."
McCaffrey and Lux, both based in Cassidy Turley’s Minneapolis office, will initially market 10 acres of the land to multi-family and retail or mixed-use developers.
“Our goal is to negotiate a deal with a developer that would begin construction this fall or in the spring of 2015,” said Lux, in a statement.
Dominium and the city parted ways in January after the two could not agree on the size of the apartment component to the project.