Kraus-Anderson (KA) received final city approvals and has begun work on an ambitious redevelopment of its headquarters block in downtown Minneapolis.
The development company has been headquartered at 525 S. 8th St. since the 1970s and downtown Minneapolis since its founding in 1897. Its new five-story, 100,000-square-foot headquarters will sit at the same location, but will double the location's employee count to 300 with room for future growth.
In addition to its new LEED headquarters building, KA's master plan for the block includes a 17-story, 307-unit residential building, an 8-story, 158-room hotel and a Finnegan's brewery, events center and business incubator facility.
The company has already begun demolition work on its existing, low-slung office building and site excavation. The Minnesota Department of Employment and Economic Development has given grant funds to the project for site prep.
“The exciting full-block redevelopment will transform a largely windswept surface parking lot into a vibrant, urban mixed-use destination and new generation residential community,” said Dan Engelsma, president and COO of Kraus-Anderson Realty, in a statement.
Pop Architects designed the office portion and ESG Architects designed the mixed-use development.
Kraus-Anderson moved its downtown workers to a temporary office space at 3433 Broadway St. NE. The company will bring back those workers and consolidate its teams in Bloomington and Circle Pines at the new building when it opens, currently scheduled for late 2017.