Stay Curious. Stay Connected.
MailNewsletters♡Donate Now
Sign up
*Password must be at least 8 characters and contain one uppercase letter, one lowercase letter, one number and one symbol.
Already have an account?
By submitting, you consent that you are at least 18 years of age and to receive information about MPR's or APMG entities' programs and offerings. The personally identifying information you provide will not be sold, shared, or used for purposes other than to communicate with you about MPR, APMG entities, and its sponsors. You may opt-out at any time clicking the unsubscribe link at the bottom of any email communication. View our Privacy Policy.
Sign in to your profile
Forgot Password?
New to MPR News?
Welcome back
to news
for you
Reset Password

Enter the username on file and we'll send you a code to reset your password.

Still require assistance or not sure what your User Name is?
Welcome back
to news
for you
Email Verification

A verification code has been emailed to

Still awaiting the code?
Curtis Gilbert
Minneapolis

Ryan to build apartment tower near Vikings stadium

Two construction workers move materials.
Two construction workers move materials behind a fence of the Downtown East project site in Minneapolis.
Bridget Bennett / MPR News

Go Deeper.

Create an account or log in to save stories.

Log inCreate a free Account

Like this?

Thanks for liking this story! We have added it to a list of your favorite stories.

Show me!

The City of Minneapolis has awarded Ryan Companies the right to develop an apartment tower on city-controlled land near the new Minnesota Vikings downtown stadium.

Ryan Companies initially offered the city $5.6 million for the property next to the parking ramp it is building for the stadium. But the company cut its offer nearly in half after Radisson Hotels pulled out of the project, which would sit on a small strip of city-owned land on the corner of 4th Street and Park Avenue.

In choosing Ryan, the city rejected a request from the Vikings to re-open the bidding process. The team offered to pay the city more money for the development rights, but city leaders say in the long run, the Ryan proposal will bring in more property tax revenue because it is a bigger building.

• Earlier: Tensions over downtown land test Ryan Companies-Minneapolis relationship

"We want to build something as big as we can, as fast as we can to generate these benefits for the city," Council Member John Quincy said.

Ryan Companies Vice President Tony Barranco says the project is a complicated one involving the city, the state stadium authority and the Vikings.

"Because of the needs of the stadium to move forward fast, at a pace, including this important parking ramp, it proved to be really difficult to keep all the interests aligned with the ramp and with the development around it," Barranco said. "Those complexities will continue even after this milestone today."