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1645 posts categorized "Early info/ more to come"

August 26, 2015

O&B Shoes to stroll to new home this weekend

Downtown Rochester will see a major migration of Mary Janes, moccasins, mukluks and more this weekend as a crew of between 20 to 30 people march a mountain of shoes to a new storefront.

O&B Shoes will hit the sidewalk this weekend as staff, family and friends move more than $61,000 in shoes, boots and sandals less than a block to the store's new downtown home.

08262015newobshoes"It's going to be a total team effort," said owner Don "Sole Man" Hadley. "We're excited about it. It's going to be a new adventure for me, my staff and my customers."

If everything goes as planned, O&B should re-open on Monday or possibly Tuesday.

O&B Shoes, which has been a downtown feature for 82 years, is moving north from its long-time spot on the corner of 100 First Ave. SW to a new space at 19 First Ave. SW. That's the street-level spot in the Kahler Hotel building where Hanny's Men's Wear operated for decades until that store closed last year. Hanny's still has stores in the Kahler subway.

A crew of between 20 to 30 people is slated to walk the boxes and boxes of footwear to move the 6,000-square-foot storefront. The store will be accessible from the subway, as Hanny's was, although that access won't go through Hanny's store under the space, he said.

O&B shoesO&B, which was founded by Leo Olson and Herbert Bergerson in 1933, has been in its present location since 1976. Its previous downtown spot at 217 Broadway Ave. S. was damaged in a fire.

The prominent spot on the Peace Plaza in the heart of downtown has made O&B a well-known landmark and regular stop for returning Mayo Clinic patients.
08202015cloud9spa
No new tenant for the 100 First Ave. SW storefront has been announced by the building's owner, George Psomas, though signage has gone up for Cloud 9 Spa in the adjacent one. O&B operates its O&B Athletic and O&E (Odds & Ends) Bargain Room in that space on First Avenue. 

August 14, 2015

South Dakota firm begins work on 192 apartments

Lots of dirt moving in northwest Rochester is a sign that work has started on a new, more than $20 million apartment complex.

South Dakota-based Stencil Homes is developing a two-building, 192-unit project called The Pines at Badger Hills. It's tucked away on Badger Hills Drive Northwest between the second and third roundabouts. That puts it just off of West Circle Drive and near the new Hy-Vee grocery store. A new roadway will connect The Pines with the new commercial development.

08132015thepinesonbadgerDeveloper and builder Nate Stencil describes The Pines as "a mix of market rate with one- and two-bedroom apartments." His goal is to have it open by summer 2016.

"This one is not a luxury project. It is a middle to upper, price-point-driven project," he said.

While Stencil only has been active in Rochester for a few years, he has a lot of projects in the works here.

"We've been pretty aggressive in the market. We've been able to make some good relationships there," he said. Stencil works closely with well-known Rochester Realtor Merl Groteboer.

The firm has two other Rochester apartment complexes — Nue52 and Kascade Place — under construction at Rochester's 65th Street Northwest interchange, across U.S. Highway 52 from the north Menards store.

Stencil expects Nue52, which has 83 units, to be ready to open within 60 days or so. Kascade Place, which will have 96 units, is expected to open in February or March.

Stencil Homes also has announced plans to build a $15 million, 110-unit apartment complex on the corner of Third Avenue Southeast and Fourth Street in downtown Rochester. That's across from the city-county Government Center. That project still is in the early planning stages.

More than 480 apartments might seem like a lot to have in the pipeline for Rochester, which has many other similar projects already in the works. However, Stencil isn't worried.

"There's a lot of pent-up demand there," he said. "I think everyone will be surprised how well the market there will handle adding a couple thousand units."

However, Stencil predicts The Pines will be the firm's last "suburban" or outlying Rochester development for a while.

"We feel strongly that there is more opportunity in the downtown area now. We have one other project we'll be doing in the urban core (in addition to the Fourth Street one)," he said.

Meanwhile, he's also moving quickly on another Minnesota project — revamping the former Pioneer Press building in downtown St. Paul. He recently purchased it and plans to convert it into 175 market-rate apartments.

July 23, 2015

Quiet period to end for Celyad (former Cardio3) on July 29

Here's an interesting update from a site called Marketbeat.com about the former Cardio3, now trading in U.S. as Celyad. This Belgium firm has deep ties to Mayo Clinic and will soon occupy an entire floor of the Minnesota Biobusiness Center in downtown Rochester.

 Celyad SA’s  quiet period is set to expire on Wednesday, July 29th. Celyad SA had issued 1,460,000 shares in its initial public offering on June 19th, Market Beat reports.

CelyadThe total size of the offering was $100,097,600 based on an initial share price of $68.56. During Celyad SA’s quiet period, insiders and underwriters involved in the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

 

CYAD has been the subject of a number of recent recent research reports. Analysts at Piper Jaffray initiated coverage on shares of Celyad SA in a research note on Tuesday, July 14th. They set an “overweight” rating and a $95.00 price target on the stock. Separately, analysts at Maxim Group reiterated a “buy” rating on shares of Celyad SA in a research note on Sunday, June 21st.

Celyad SA remained flat at $60.44 during during mid-day trading trading on Wednesday. 126 shares of the company’s stock traded hands. Celyad SA has a one year low of $47.52 and a one year high of $67.94. The stock’s 50-day moving average is $54.65 and its 200-day moving average is $54.65.

 

July 22, 2015

Dirt is moving for NW Rochester development

Dirt is moving in northwest Rochester for a new commercial development area. 

Edina-based New Era Development is starting to prepare its Creekside Development on the southwest corner of the intersection of 19th Street Northwest and West Circle Drive. 

XAerial_-Creekside-2011.8.3-005-e1432657863387-750x410.jpg.pagespeed.ic.F6OkG5ifGbNo businesses have yet been announced for the build-to-suit development. Plans show an entrance from 19th Street Northwest and streets within the Creekside area.

The marketing brochure for Creekside lists the build-to-suit opportunities as including retail, office and flex office space. Available lot sizes range from 1.13 acre to 4.22 acres.

New Era first proposed Creekside in the fall of 2007, just before the economic recession. Earlier this year, the firm updated its plans and began marketing the project.

Plans show a development that could grow into something very similar to the 100-acre commercial area anchored by Costco, Associated Bank, Aldi and Kwik Trip on the northeast corner of the same intersection.

The Radichel family, of Mankato, which is behind Venstar LLC and its affiliate, New Era, has owned the land for about 30 years.

In 2007, former Venstar President Nino Pedrelli told the Rochester City Planning and Zoning Commission that, “We are long-term holders, and right now the project is a go for us."

Venstar and New Era also own the Valley High Business Center buildings, Phase I and Phase II, at 3535 40th Ave. NW, and the Cascade Park commercial center on Ninth Street Northwest, behind Kwik Trip. — Jeff Kiger

Holiday Inn: Roch.'s downtown hotel to close at end of August

Don't expect to book a room in Rochester's downtown Holiday Inn after Aug 31, according to the hotel chain's national reservation line.

Holiday-inn-rochester-3336465069-4x3An InterContinental Hotels representative on the reservation line said this week that Rochester employees said the 170-room hotel at 220 Broadway Ave. S will close at the end of August. They told the ICH representative the closing is because of the sale of the hotel.

For several months, word has been leaking out about a deal to sell the downtown hotel to an unnamed buyer who is planning to convert the 46-year-old hotel into a senior living facility.

If the buzz is correct, these talks have been going on for quite a while without reaching closure. Now the employees are saying a closure is on the way.

At least for the hotel, if not the real estate deal. 

July 09, 2015

Development exploding in Rochester's Shoppes on Maine area

Downtown Rochester is not the only area being eyed by developers. 

It appears that Shoppes on Maine in south Rochester is exploding with development these days.

I wrote about a 211 apartment complex proposed for the area on Wednesday plus there's already a massive housing project called The Boulders already under construction, which will have 144 apartments and eight buildings with 10 townhouses in each.

FireShot Capture - Google Maps - https___www.google.com_maps_@43.9547185,-92.4647416,15zMeanwhile, yet another group of developers met with residents of the Maine Avenue neighborhood on Tuesday to discuss their plans for a 359 unit apartment complex slated the empty land across from Mills Fleet Farm store.

I don't know much about the Fleet Farm apartment complex yet, but should have more on it soon.

Beside more than 700 apartments, the buzz in the Shoppes on Maine is that a new car dealership could be revving up for the land around 48th Street and St. Bridget's Road. 

There is a lot of interest in real estate in that area right now, so it's possible that a new name might be on the road to join Rochester Toyota Scion and Mercedes Benz of Rochester in Shoppes on Maine.

July 02, 2015

Goodwill store proposed for northwest Rochester

A Minneapolis developer is proposing to build a 28,000-square-foot Goodwill thrift store near Costco in northwest Rochester.


The Driessen Group, led by Vince Driessen, has filed plans to build a store at the corner of 19th Street Northwest and Scott Road Northwest. That's the 19th Street entrance to the Costco commercial area. The store is slated to sit opposite the Kwik Trip station across Scott Road.

Goodwill plansThe plans describe the project as a Goodwill store. However, Goodwill Minnesota Retail Marketing Director Mary Beth Casement cautions that the nonprofit has not committed to any such store yet.

"We do not have a signed lease, so your best source is the developer rather than Goodwill-Easter Seals Minnesota," said Casement in an email.

Driessen has not yet responded to a request for comment about this project.

It's common for developers to build stores with a plan, and then lease or sell them to nonprofit organizations or corporations.

Driessen recently built a 33,000-square-foot Goodwill store in St. Paul, which opened in March.

The plans, drawn up by DJR Architecture Inc., of Minneapolis, show a building with 13,730 square feet of retail space and 8,787 square feet of office. It also includes 4,955 square feet of warehouse space.

In 2008, a Goodwill store with 15,000 square feet of retail space was built at 239 28th St. SE near the Broadway Commons commercial area. The nonprofit organization moved into it after leaving its old Rochester spot at 660 37th St. NW.

It's unclear if this proposed store would be a second location or if it would replace the 7-year-old southeast store. A second store seems the most likely possibility. Salvation Army opened a second northwest location in 2014.

June 26, 2015

A taste of the East Coast coming to Med City

The flavor of the East Coast is on its way to southwest Rochester.

Joe Phillips is cooking up a new eatery called Jersey Jo's to serve up "authentic Philly Cheesesteaks and more."

FireShot Capture - Order Online - http___jerseyjos.com_order-onlineHe hopes to be able to open Jersey Jo's by mid-July at 187 16th Ave. SW. Cousins Subs is moving out of that 1,600-square-foot spot in the Shoppes on Second commercial center at the end of June. That address will put him just a couple blocks away from Mayo Clinic's St. Marys Hospital and many hotels.

Phillips, a software programmer who will continue that profession remotely from the restaurant, said this new project started very simply.

"I couldn't get a cheesesteak anywhere around here that I liked," he said. So after years of looking, he finally decided to open a place of his own.

Phillips plans to "import" many of the ingredients for the Jersey Jo's signature cheesesteak sandwiches from the East Coast to create as authentic of a flavor as possible.

In addition to Philly cheesesteaks, Jersey Jo's also will serve cold hoagie sandwiches, chicken wings and a trio of specialty burgers. The meat will be sliced on-site, deli-style for each of the made-to-order sandwiches.

While he has long worked in the technology industry, Phillips knows his way around a kitchen from years in restaurants during college.

Phillips' vision for Jersey Jo's is to create a laid-back place like the small mom-and-pop corner shops he remembers from growing up in New Jersey.

"I want to offer a nondiscriminatory place for people to come and feel welcome while they have some good food," he said.

He expects to have about eight people on staff.

 

June 12, 2015

Checking in with Sonic

Hopeful rumors of a Sonic Drive-in opening in Rochester have been buzzing around… again.

I called Oklahoma City, Okla.-based burger and shake chain in 2007, 2008, 2009 and 2011 to see if car hops and cherry limeades might be on the way to the Med City.

Sonic-drive-inI've never received an answer that made local Sonic fans happy. And unfortunately, the 2015 call did not turn out any differently.

"We do not have any signed contracts or any under construction drive-ins there," said Sonic's Communication Manager Jason Acock. "I don't see any plans right now of opening up in Rochester."

However, there's always a possibility. Sonic has opened a number of drive-ins in the Twin Cities and in nearby Wisconsin in the past eight years.

"We're open to looking all over the county right now. We're looking to expand everywhere," said Acock. "Hopefully, somebody will step forward and a franchisee will want to open a location up there."

May 27, 2015

Manufacturer shopping for Roch. location?

The chatter on the streets these days is that a new manufacturer is seriously looking at the possibility of setting up shop in Rochester.
Stock-photo-18292216-kinematic-gears-question-symbol
While no names have surfaced yet, the buzz is that this manufacturer could need up to 250 workers and 200,000-square-feet of space.

If that is even close to accurate, this could be a big addition to Rochester's goal of becoming more economic diverse.

We'll keep an eye on this to see if this interested company decides to move ahead with a Med City project.