Alatus’s $200M-plus vision for Brooklyn Center includes offices, housing, cinema and retail

– MSP Business Journal

The city of Brooklyn Center has chosen Alatus LLC to redevelop 33 acres that was once a shopping center and Ford dealership.

Alatus pitched a preliminary vision that would add 575 to 775 housing units, 200,000 to 265,000 square feet of office space, a movie theater, a 200- to 250-room hotel, several restaurants and a park. The project, done in phases, would overhaul mainly vacant buildings and surface parking lots near the Interstate 694/Highway 100 interchange. Alatus estimated that the project would cost more than $200 million.

The first phase, according to the city, would include an apartment building, grocery store and movie theater. Alatus Principal Bob Lux told the Council he’s already in discussions with theaters and grocers.

On Monday, the City Council approved a preliminary development agreement with Alatus. The firm will spend the next 30 to 90 days investigating the site for contamination and conducting a market study.

The land is next to what used to be Brookdale Center, a regional mall that was redeveloped by Gatlin Development Co. Inc. of Tennessee. It’s now a Walmart-anchored shopping center called Shingle Creek Crossing.

The city’s economic development authority owns the site, which is in a tax increment financing district. Alatus will seek subsidies for the project.

The preliminary development agreement lasts for a year while Alatus and the city negotiate purchase price and redevelopment agreement.

Brooklyn Center Community Development Director Meg Beekman cautioned that the final plans would likely differ from the concept plans submitted by Alatus. Some of the land in the concept plans is still owned by private landlords. The agreement is only for the city-owned parcels.

The City Council selected the Minneapolis developer over Inland Development Partners of Wayzata.

By: Nick Halter
Date: March 28, 2018
View original article and images here.

Headquartered in Minneapolis, Minnesota, Alatus, LLC was founded in 2005 with the goal of revitalizing communities through the planning, design and construction of transformative projects. Known for its dedication to excellence, Alatus is a leader in multi-family as well as mixed-use, commercial, and single-family residential real estate developments.

The company also includes MyHomeSource, LLC, which focuses on single-family home construction throughout the Minneapolis/St. Paul metro and brings more than 30 years of real estate, design, and construction experience to each neighborhood. With numerous, award-winning urban and suburban developments, Alatus proudly partners with clients and communities throughout the Upper Midwest.