The $500 million makeover of Edina’s Pentagon Park is getting a makeover.
CBRE recently announced that it is marketing 28 acres of the 42-acre site, which is being renamed The Link, for sale as housing.
The northern portion of The Link, which is located at the intersection of Hwy. 100 and W. 77th Street close to Interstate 494, could offer a range of housing options from condos to senior living complexes or apartments. The site has entitlements in place with density ranging from 30 to 40 units per acre with a height of up to five stories. That portion of the property has nine buildings, four of which are vacant.
The southern area of the property has been cleared and is being marketed by Cushman & Wakefield/NorthMarq with a focus on medical, office, hospitality and possibly retail uses.
The plan is a departure from the original vision of Minneapolis-based Hillcrest Development, which purchased the park in 2013. Hillcrest expected the park’s redevelopment to be anchored by 1.4 million square feet of Class A office or medical space. It also proposed hospitality and retail uses, with housing as a final option. Now, housing is first.
“After decades of office use, Pentagon Park is now ready for its next chapter of land use in Edina,” Edina Mayor Jim Hovland said in a statement. “We are excited for the 28-acre site to be redeveloped into a vibrant community of housing and new jobs adjacent to the repurposed Fred Richards park.”
The Hotel Landing opens in Wayzata
The Hotel Landing had its grand opening last week as the newest luxury hotel along the shores of Lake Minnetonka.
The hotel, part of the $342 million Promenade of Wayzata redevelopment project, is owned by BohLand Hotel Group and managed by Hay Creek Hotels.
The 92-room hotel also features a two-story restaurant, a Nordic-inspired spa, and meeting and banquet facilities. The building also has 14,000 square feet of retail space on the first floor and about 30 luxury condos, which have access to concierge, room service and housekeeping from the hotel.