Rendering shows renovation of former TCF building, with Foshay Tower behind it
Franklin Street Properties released an image that shows what it may do with the former TCF Building, a century-old, four-story office complex on a prominent corner of Marquette Avenue that it originally planned to tear down.
The Massachusetts-based real estate investment firm for several months considered building a 50-story tower in place of the old building, which TCF vacated last year. The firm announced in late April that its subsequent cost analysis showed that the big tower wasn't feasible. In the renovation, the brick building would keep its arches but windows would move into them instead of being behind them.
The rendering was part of a filing Franklin Street made to the Securities and Exchange Commission earlier this week. The firm said the design was subject to change.
In the filing, the firm reiterated its plan to spend $15 million to $18 million to remodel the building. It aims to be able to charge $14 to $15 per square foot in rent, up from the current $4.75 per square foot.
Here's a Star Tribune photo of the building from last year: