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Committee authorizes sale of 17,600 sq ft at 1027 Essex Street SE to SV Plaza LLC for $1.6 million
Summary
The committee approved selling roughly 17,600 square feet of excess right-of-way at 1027 Essex Street SE to SV Plaza LLC (University of Minnesota Foundation Real Estate Advisors) for $1,600,000 to support a multi-phase mixed-use development called The Mix.
The Business, Housing and Zoning Committee on April 8 authorized the sale of approximately 17,600 square feet of excess city property at 1027 Essex Street Southeast to SV Plaza LLC, an entity associated with the University of Minnesota Foundation Real Estate Advisors (UMFREA), for $1,600,000.
Emily Stern of the Community Planning and Economic Development (CPED)…
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