Industrial development in the Twin Cities continues to be the hot ticket in commercial real estate these days.
On Thursday afternoon, Hyde Development and M.A. Mortenson Co. will hold a ceremonial groundbreaking at their $100 million-plus industrial/commercial development in Fridley.
It's actually a redevelopment of a longstanding Superfund site that is the former home to the Northern Pump Co. Now called Northern Stacks -- a nod to the industrial heritage of the site dating back to World War II -- the 122-acre property will be developed in phases over the next few years. (The existing 2 million square-foot building will eventually be torn down.)
Once completed, the rehabbed site is expected to attract at least 3,000 jobs to the northern Twin Cities suburb. It will feature a modern, sustainable design and LEED-ready construction, rail access, and fiber connectivity.
In a nod to the site's history, the original smokestacks that display the Battle E awards received during World War II will be retained. Northern Pump was one of the few sites to receive six Battle E awards for excellence and efficiency.
Attending the festivities Thursday: Gov. Mark Dayton, Department of Employment and Economic Development Commissioner Katie Clark Sieben, Fridley Mayor Scott Lund, Lona Schreiber of the Metropolitan Council, Gary Schafer from the U.S. Environmental Protection Agency, David Mortenson from M.A. Mortenson Co., Paul Hyde of Hyde Development.