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« New tenant coming for City Centre | Main | The hunt for the great White... Call me Ishmael Kiger »

January 17, 2012

New tenant banking on 318 Commons, Roch. downtown

Here's a little from my column in today's paper about a new tenant signing to go into 318 Commons on First Avenue Southwest.

It seems like downtown Rochester is bustling these days with action at Mayo Clinic, the City Centre, the Kahler Grand Hotel, the BioBusiness Center, Historic Third and along the river (Legends).

Come on northwest and south Rochester, downtown is getting all of the attention. Let's pick up the pace in the other quadrants.

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Eastwood Bank is expanding its Rochester footprint by establishing a large branch and private banking office in the new University of Minnesota Rochester student housing complex, 318 Commons.

01162012commons318jkSubject to banking regulatory approval, the area bank will create a 6,000-square-foot branch on the street level of the complex at 318 First Ave. S.W.

"This is an exciting project for us. It flows along with our strategic plan to grow in Rochester and southeastern Minnesota," says Paul Tieskoetter, Eastwood's president.

If it goes as planned, bank officials anticipate getting approval from federal regulators within 30 to 45 days.

While Eastwood doesn't have any retail banking downtown now, it does have a private banking and trust department office that opened in 2008 in the Broadway Residence and Suites tower. That office will be expanded and folded into the new 318 Commons branch.

"We're tripling our downtown space," Tieskoetter says.

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NE Rochester could really use a shot in the arm too, especially in the Shopko N, Northern Heights, and Century HS area. Oh what I wouldn't give for a Panera type coffee shop that stays open late and some better dining options than pizza.

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