New plan for Gateway project envisions 35-story tower
In a 261-page city document available Wednesday, United Properties announced the details of the mixed-use skyscraper it plans to build on a parking lot where the Nicollet Hotel once stood at the corner of Hennepin and Washington avenues, next to what later became the Nicollet Mall. The project has been through several design iterations and multiple delays.
The building would include more than 530,000 square feet of office space on 16 floors, 280 hotel rooms on 10 floors and 22 condos on four floors, all on top of a four-floor podium with lobbies. There would also be a 455-stall underground parking garage.
The building would reach 503 feet, making it one of the 10 tallest buildings in Minneapolis.
“This high-profile project, accommodating office, hotel and residential functions, will establish a new northern gateway into the downtown business district of Minneapolis,” according to the document.
United Properties submitted its land-use application to the city this fall, but the developer was later informed that its submission was incomplete and was asked to make changes.
United Properties leaders had said during the summer that their original plan to include a Four Seasons hotel in the structure was in jeopardy due to lower room rates in the area and other unfavorable market conditions.
As a result, designers had submitted several alternatives to the city including a 30-story tower primarily for offices. RBC Wealth Management confirmed earlier this year that it would be an anchor office tenant in the project.
The current plans include a 2,100-square-foot RBC branch in the building as well as a restaurant and space for other retail. The plans don’t name a hospitality partner but say the building will have a five-star hotel.
United Properties, which was given exclusive negotiating rights for the project in 2015, had to ask for multiple extensions as it secured financing.
The plans for the Gateway project are scheduled to be discussed at Tuesday’s city planning commission meeting.