Eagan OKs purchase of Cedar Grove parcel for upscale outlet mall

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non-starter

Minneapolis, MN

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#1
Dec 21, 2012
 
A key parcel of land in western Eagan is in the hands of a commercial developer that has plans to build an upscale outlet mall.

Eagan's Economic Development Authority this week unanimously approved a $14.73 million purchase agreement with Baltimore-based Paragon Outlet Partners for 29 acres of city-owned land in the Cedar Grove Redevelopment Area.

Paragon wants to build a 420,000-square-foot, open-air mall consisting of 90 to 100 outlet stores of high-end retailers. The EDA, made up of city council members, approved preliminary plans in April.

If the city council gives the green light to final land-use plans later this year, the mall would be the first major new development within the Cedar Grove commercial district, which is east of Cedar Avenue and includes property on both the north and south sides of Minnesota 13.

Paragon has told city officials that its similar projects across the country typically have had an investment of more than $100 million, created 400 construction jobs and brought in 1,500 to 2,000 retail jobs.

"It's a very big step," city administrator Tom Hedges said of the purchase agreement. "We're excited about (Paragon's) ability to develop the property -- we feel it's consistent with our long-term plans."

The purchase agreement includes $5.8 million for the land, an additional $3.5 million for the relocation of Cedar Grove Boulevard and $1.2 million to move a gas pipeline.

Paragon is also chipping in $4.2 million for a $19 million multi-level parking ramp the city will build, own and maintain, said Gene VanOverbeke, Eagan's director of administrative services.

In turn, since 2000, the city's EDA has spent about $40 million in acquiring land in the area and investing in infrastructure with the aim of luring mixed-use development.

The mall's footprint leaves about 16 acres of city-owned land for future development that could help fulfill the city's vision for a mix of uses in the area.
starter

Saint Paul, MN

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#2
Dec 22, 2012
 
Well done Eagan! Sounds like a starter to me!
non-starter

Burnsville, MN

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#3
Dec 26, 2012
 
starter wrote:
Well done Eagan! Sounds like a starter to me!
Eagan, come for the eminent domain, stay for the outlet mall.
starter

Saint Paul, MN

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#5
Dec 26, 2012
 
non-starter wrote:
<quoted text>Eagan, come for the eminent domain, stay for the outlet mall.
Somebody must have told you that was clever. They lied.
Amused Slew

Seattle, WA

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#6
Dec 26, 2012
 
Eagan, visit the outlet mall !!!! Shopping, stores, and competitive prices....
non-starter

Burnsville, MN

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#7
Dec 26, 2012
 
starter wrote:
<quoted text>
Somebody must have told you that was clever. They lied.
Yeah, like I would take advice from a low integrity poster.

Eagan, they wanted it, you had it, we took it from you and gave it to them.

Eagan, come for the eminent domain, stay for the outlet mall.
non-starter

Burnsville, MN

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#8
Dec 26, 2012
 
non-starter wrote:
A key parcel of land in western Eagan is in the hands of a commercial developer that has plans to build an upscale outlet mall.
Eagan's Economic Development Authority this week unanimously approved a $14.73 million purchase agreement with Baltimore-based Paragon Outlet Partners for 29 acres of city-owned land in the Cedar Grove Redevelopment Area.
Paragon wants to build a 420,000-square-foot, open-air mall consisting of 90 to 100 outlet stores of high-end retailers. The EDA, made up of city council members, approved preliminary plans in April.
If the city council gives the green light to final land-use plans later this year, the mall would be the first major new development within the Cedar Grove commercial district, which is east of Cedar Avenue and includes property on both the north and south sides of Minnesota 13.
Paragon has told city officials that its similar projects across the country typically have had an investment of more than $100 million, created 400 construction jobs and brought in 1,500 to 2,000 retail jobs.
"It's a very big step," city administrator Tom Hedges said of the purchase agreement. "We're excited about (Paragon's) ability to develop the property -- we feel it's consistent with our long-term plans."
The purchase agreement includes $5.8 million for the land, an additional $3.5 million for the relocation of Cedar Grove Boulevard and $1.2 million to move a gas pipeline.
Paragon is also chipping in $4.2 million for a $19 million multi-level parking ramp the city will build, own and maintain, said Gene VanOverbeke, Eagan's director of administrative services.
In turn, since 2000, the city's EDA has spent about $40 million in acquiring land in the area and investing in infrastructure with the aim of luring mixed-use development.
The mall's footprint leaves about 16 acres of city-owned land for future development that could help fulfill the city's vision for a mix of uses in the area.
So let's see here, the city of Eagan gets $14 million for land they spent over $40 million to acquire. Economics don't matter there. They could have spent $0 and kept on collecting taxes on businesses.

Eagan, come for the eminent domain, stay for the outlet mall.

Eagan, come for the poor judgement, stay for the property tax increases.
Amused Slew

Seattle, WA

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#9
Dec 26, 2012
 
Eagan, visit the outlet mall !!!! Shopping, stores, and competitive prices....
Poor child, pretending you know anything is a chore and you're a sad, dumb bore.... LMAOROTFU~!
non-starter

Burnsville, MN

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#10
Dec 26, 2012
 
Eagan, We spent $40 million 5 years ago to get a $16 million return. Come for the eminent domain, stay for the outlet mall.

Eagan, because economic re-development at a huge loss is better than collecting taxes with no capital outlay.

Eagan, come for the eminent domain, stay for the outlet mall.
Amused Slew

Seattle, WA

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#11
Dec 26, 2012
 
non-starter wrote:
<quoted text>So let's see here, the city of Eagan gets $14 million for land they spent over $40 million to acquire. Economics don't matter there. They could have spent $0 and kept on collecting taxes on businesses.
Eagan, come for the eminent domain, stay for the outlet mall.
Eagan, come for the poor judgement, stay for the property tax increases.
I LOVE sloppy/made up numbers... They prove NO POINT PERFECTLY !!!! LMAOROTFU~! They/We "could" have spend nothing and had no new higher property tax business, jobs, and stayed a slum...
non-starter

Burnsville, MN

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#12
Dec 26, 2012
 
You mean like the numbers that Eagan will get $14 million for the property they spent over $40 million and 5 years acquiring? Hmm, I wonder what Eagan could have done with $40 million, It's nice that Eagan decided to subsidize Paragon for a big outlet mall and bankrupted some small business owners. What a wonderful use of tax dollars. So nice to have that new outlet mall in, now no one will have to drive to Woodbury, Medford, or Albertville for second class consumer goods.

Eagan, come for the eminent domain, stay for the outlet mall.
Amused Slew

Seattle, WA

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#13
Dec 26, 2012
 
I LOVE sloppy/made up numbers... They prove NO POINT PERFECTLY !!!! LMAOROTFU~! They/We "could" have spend nothing and had no new higher property tax business, jobs, and stayed a slum...
non-starter

Burnsville, MN

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#14
Dec 26, 2012
 
Amused Slew wrote:
I LOVE sloppy/made up numbers... They prove NO POINT PERFECTLY !!!! LMAOROTFU~! They/We "could" have spend nothing and had no new higher property tax business, jobs, and stayed a slum...
Sloppy or made up numbers? Mr Low integrity poster, I don't need numbers to show that spending nothing and collecting revenue of $0 is better than spending $40 million five years ago to get $14 million back. I wonder if the developer gets tax breaks for 10 years too for taking this property off the city of Eagan's hands?

Eagan, come for the eminent domain, stay for the outlet mall.

Since: Oct 08

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#15
Dec 26, 2012
 
I am familar with the stretch of property,, I am not sure but is this not where the old Cedarville or Cedardale use to be??
non-starter

Burnsville, MN

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#16
Dec 26, 2012
 
Niether of the Above wrote:
I am familar with the stretch of property,, I am not sure but is this not where the old Cedarville or Cedardale use to be??
Yes it is where old Cedarvale mall and the property across the street was.
non-starter

Saint Paul, MN

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#17
Dec 26, 2012
 
Eagan, come because it's close to Bloomington, stay away from the wingnuts.
non-starter

Burnsville, MN

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#18
Dec 26, 2012
 
non-starter wrote:
Eagan, come because it's close to Bloomington, stay away from the wingnuts.
Eagan, home of Tim Pawlenty. Come for the outlet mall, stay for the eminent domain.
Liberal fools

Minneapolis, MN

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#19
Dec 26, 2012
 
Government should stay out of business.

Goverenments who want to develop stuff should start a private business and develop stuff without risking taxdollars.

Since: Oct 08

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#20
Dec 26, 2012
 
non-starter wrote:
<quoted text>Yes it is where old Cedarvale mall and the property across the street was.
There were some Apartment buildings just up the hill from there! Going back many years but I knew some guys from College who live back in there. I remember when you could drive from Hwy 35 E to 35 W on Hyw 13 and only one yellow caution light near was blinking. Use to visit the old Burnsville Bowl!!
non-starter

Burnsville, MN

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#21
Dec 26, 2012
 
Niether of the Above wrote:
<quoted text>There were some Apartment buildings just up the hill from there! Going back many years but I knew some guys from College who live back in there. I remember when you could drive from Hwy 35 E to 35 W on Hyw 13 and only one yellow caution light near was blinking. Use to visit the old Burnsville Bowl!!
The apartment buildings are still up the hill to the south east. Burnsville Bowl is boarded up for the last year or so, for sale or lease.

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