Wells Fargo wants to build a six-story parking ramp on its Wells Fargo Home Mortgage campus in south Minneapolis, allowing that office to accommodate 1,250 more workers.
The site is located just east of Interstate 35W and south of E. 28th Street.
The campus currently has a 636,883-square-foot parking ramp and large parking lot with room for 2,239 parking spaces.
The new 312,436-square-foot ramp would be built on part of the existing parking lot and would add 696 parking spaces, according to a city staff report submitted for discussion for Monday’s Minneapolis Planning Commission meeting.
Wells Fargo already occupies about 4 million square feet of office space in Minneapolis and employs more than 11,000 in Minneapolis and about 18,000 in the entire metro area. The two new Wells Fargo towers in East Town near U.S. Bank Stadium are about 1.1 million square feet.
“As a part of our routine strategy analysis, it was identified that our mortgage campus located in south Minneapolis was a candidate to increase our team member base by 1,250, which could bring the population of the campus to roughly 5,000,” Janet Olson, property portfolio manager for Wells Fargo, wrote in a letter to city planning officials.
While the city report said the additional workers would be relocated, there was not an explanation as to whether the workers would be new hires or be moved from existing offices in the Twin Cities region.
Minneapolis developer Ryan Cos. is working on the project.