Titan Development and Investments is announcing plans at 9 a.m. today for a 25-story tower just north of Broadway Residences and Suites, at the corner of South Broadway and East Center. Called Broadway at Center, the proposal is for a mixed-use project that would feature 30,000 square feet of Class A office space, a 150-room "four-star hotel," 150 market-rent apartments, "several recognizable Minnesota brands within the specialty grocery and restaurant business," including a "high-end grocery" and "a well-known Minnesota steakhouse."
Here's the news release:
Titan Development and Investments announces Broadway at Center mixed-use development
Local Developer announces plans to introduce a new mixed use development directly connected to the downtown Skyway and future public parking structure.
Rochester MN, May 31, 2013: Titan Development and Investments announced plans to develop the remaining northwest portion of block 33 east of Broadway across from The Shops at University Square, to be known as Broadway at Center. Titan is currently in the design phase of a 25 story facility that will include high end grocery retail, a well-known Minnesota Steak House, a Four Star hotel, Class A office space, an upscale urban apartment community, and other upscale retail shops
Titan is finalizing negotiations with several recognizable Minnesota brands within the specialty grocery and restaurant business. In addition our team is working with a Hotel brand partner to obtain licensing to open a 150 room Four Star hotel as well as filling a substantial void in urban housing with up to 150 units of market rent apartments. Titan expects the results of a recently commissioned urban housing study for the City of Rochester to be completed within the next 7-10 days.
Preliminary plans also include up to 30,000 sf of Class A office space on the highest floors that will house the Titan Development and Investments offices and other potential business tenants.
Titan Development and Investments is “committed to implementing projects that support and enhance the vision and direction of the community as part of the DMC 20 year plan”, says John Beltz, Vice President of Brand Management and Revenue Development.
The project design will be under the direction of Hal Henderson, Principal with HGA Architects, and is scheduled to begin in 2014 according to Darren Schlapkohl, VP Development and Construction Management.
Titan intends to work closely with the current tenants to identify appropriate timelines for relocation and potential alternative locations as part of a wider City partnership that will include the construction of additional downtown parking and street level retail space.
DMC skeptics will ask the natural questions about how this came about: who had information when; who will make the most money and why, etc. All reasonable questions, when government is involved in "facilitating" private development.
Regardless, though, a major announcement for Rochester.