East Town Development Overview

East Town is receiving significant public investment that is unlocking substantial private investment. This began with the opening of the Blue Line Light Rail Transit (LRT) in 2004. However, since 2014 additional public investment has begun to accelerate: The addition of the Green Line LRT greatly expanded the reach of the transit system in 2014, the new U.S. Bank Stadium, The Commons Park, hundreds of new units of housing, Hennepin County Medical Center’s outpatient specialty center, and reconstruction of Washington Avenue west of 5th Avenue are all either complete or under way.

The immediate impact of these investments can be seen in the new Wells Fargo campus and several other redevelopment projects in East Town. Although there is and will continue to be debate about public investments catalyze private investment, it is beyond doubt that the profile of East Town has been substantially raised in recent years and that significant attention is being given to the area among all types of private interests.

Interesting FAQ’s

Number of major construction projects slated,started, or completed in East Town: 22 and counting
Approximate number of new and proposed hotel rooms in East Town: 1,013
Approximate number of tenants of new/relocated corporate headquarters and other commercial office space in East Town: 9-10,000
Total cost of East Town’s two flagship tenants, Wells Fargo and U.S. Bank Stadium: $1.5 billion
East Town population was estimated 2014 to be 8,500, up nearly 30% since 2000. With an assumed capture rate of 25%, future housing demand could support approximately 3,200 new housing units in East Downtown through 2030. (CPED Market Study)
The East Town Business Partnership has identified more than 300 businesses in the district

Interviews with real estate experts clearly underscored this fact. Everyone interviewed felt that the area is in the process of a remarkable transformation and that property throughout the study area is being evaluated and even beginning to change hands in anticipation of new development opportunities.” (Minneapolis CPED Market Study, May 2015) Since 2012 East Town has undergone more than $2 billion worth of new development, including:

The Multi-Purpose/Minnesota Vikings’ U.S. Bank Stadium
The 4.2 acre Commons Park
Wells Fargo Twin Corporate Office Buildings
Hennepin County Medical Center Clinic
Over a dozen new mixed use rental and ownership residential developments
Public realm and multi-modal transit investments, including the opening of the “Green Line” Central Corridor LRT, connecting with the “Blue Line” Hiawatha LRT Corridor at the East Town (U.S. Bank Stadium) Station

The Largest Employers within Six Blocks of the US Bank Stadium LRT Plaza: