Delay in developer's bid to extend exclusive rights for waterfront site
The city council on Monday postponed a vote on a developer's request to extend the period of its exclusive negotiating rights for a waterfront site downtown.
Abu Dhabi-based Bloom International Realty wants an additional six months to explore the possibility of developing three parcels of city-owned property along the Zumbro River.
In May, the council approved Bloom's request for 180 days of exclusive negotiating rights on the land. However, there have been delays in the DMC process and the company wants more time to work on a full proposal.
The council will discuss the topic again on Dec. 21. It could accept the developer's request or open the process up to other companies.
Bloom's plans call for apartments, retail space, parking and an up-scale hotel along the riverfront. The proposed project, which would be broken up into multiple phases, also includes public park space.
The land that Bloom wants to build on includes the AFL Labor Temple, which the city will acquire next January, and two city-owned parking facilities.
There's still no price tag on the project. Bloom also owns the Associated Bank building on South Broadway.
(Cover graphic: Council agenda packet)