Downtown construction of apts. and co-op rolls on
Following the demolition of one of the University Village Inn buildings, the Metropolitan Market Place construction crews are working in a big, now-open space at First Avenue and Sixth Street Southwest.
Meanwhile, at the other end of the First Avenue block, work on the Metropolitan Market Place plunges ahead.
The La Crosse, Wis.-based Gerrard Corp. is building the four-story apartment complex with the new People’s Food Cooperative grocery store on the main level.
It will have 62 apartments will all of the dust settles.
To encourage economic development, the City of Rochester sold the former Minnesota Energy building at 519 First Ave. S.W. to Gerrard for the symbolic price of $1, also on March 30.
The city hopes to recoup its investment in the property through a tax increment financing district set up for the project. The city bought the building in 2008 for $750,000.