Pre-Development Funds for US Bank Site owned by Redesign
The Metropolitan Council has awarded the City of Minneapolis a Livable Communities Act Pre-Development grant in the amount of $150,000 for the RE+4RM Project.
Pre-development grants are for teams who are defining or redefining a project that will support Livable Communities and Thrive MSP 2040 goals.
The $150,000 toward planning for redevelopment of the damaged U.S. Bank site on Lake Street. Plans call for BIPOC and community ownership of development projects that include public realm planning and affordable commercial and mixed-use developments, each connected to an Aquifer Thermal Energy Storage district energy system.
“Livable Communities grants support local initiatives to boost the economy, create a diversity of housing, and promote walkable and transit-oriented spaces. These predevelopment grants help to ensure that adequate study, evaluation, and community involvement go into making these developments as successful as possible.”
WHO
Re+4RM Project, Minneapolis
WHERE
WHEN
Property donated in 2021.
WHY
“In response to the civil unrest that followed the death of George Floyd, our communities invested significant effort to first stabilize, and now rebuild Lake Street in a more equitable fashion,” said Taylor Smrikárova, project leader from Seward Redesign. “Our team is intently committed to ensuring that the U.S. Bank property is lifted up as a demonstration site for wealth creation for communities of color.”
Read More about the USBANK Site Redevelopment
