Retrofit Atlas

Office parks · Minnesota

Wells Fargo Home Mortgage campus

Imported, unreviewedRedevelopedReinhabitedRetrofit proposedMinneapolis, MN

Proposed 25-acre mixed-use redevelopment (housing, healthcare, retail) approved for construction, led by Novarum, with housing explicitly planned. · summary, model-written

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Site profile12 elements · what this retrofit is built with · tap a chip for the evidence

Finance and pipeline
Retrofit in the pipelineThis site: …proposed newtypes-extraction · all sites with this
Place
3+ other atlas sites within 10 kmThis site: 10 within 10 km computed · all sites with this
County lost 10%+ of retail establishments since 2012This site: -12% census-cbp · all sites with this
Strategy
RedevelopedThis site: Iconic Plaza, a sprawling mixed-use development featuring housing, healthcare, retail and educational facilities, medical offices, community gathering spaces… record · all sites with this
ReinhabitedThis site: Iconic Plaza, a sprawling mixed-use development featuring housing, healthcare, retail and educational facilities, medical offices, community gathering spaces… record · all sites with this
New use
Civic and governmentThis site: …new_use field newtypes-extraction · all sites with this
EducationThis site: …new_use field newtypes-extraction · all sites with this
HousingThis site: Iconic Plaza, a sprawling mixed-use development featuring housing, healthcare, retail and educational facilities, medical off newtypes-extraction · all sites with this
Medical and healthThis site: Plaza, a sprawling mixed-use development featuring housing, healthcare, retail and educational facilities, medical offices, commun newtypes-extraction · all sites with this
Mixed useThis site: Iconic Plaza, a sprawling mixed-use development featuring housing, healthcare, retail and educa newtypes-extraction · all sites with this
OfficeThis site: …ing, healthcare, retail and educational facilities, medical offices, community gathering spaces and a technology center. Approv newtypes-extraction · all sites with this
Retail (continued)This site: …awling mixed-use development featuring housing, healthcare, retail and educational facilities, medical offices, community gath newtypes-extraction · all sites with this

All elements and lists · Trends

Now

StatusRetrofit proposednewtypes-extraction reported
StrategyRedevelopment · Reinhabitation, proposedWikipedia no source
New usescivic, education, healthcare, housing, office, retailWikipedia no source
What is there nowIconic Plaza, a sprawling mixed-use development featuring housing, healthcare, retail and educational facilities, medical offices, community gathering spaces and a technology center.newtypes-extraction reported
RedeveloperNovarum Development Partnersnewtypes-extraction reported

Planning

Zoning changeimplied (incentives for office-to-housing conversions)newtypes-extraction reported
Public purchase or subsidyexpectednewtypes-extraction reported
Planning notesApproved by city.Wikipedia no source

Deals and debt

DateEventPricePartiesSource
Sold—Novarum Development Partnerscbsnews.com

Site context

Housing permits, Hennepin County (MN), 20241,739 units in 5+ unit buildings, 126 in 2–4, 2,054 single-family; 2023: 3,772 in 5+Census BPS
Other atlas sites nearby10 within 10 km, 30 within 25 km: Kmart store site (0.0 km); Hotel Dyckman (0.0 km); Warehouse District (0.0 km); Kmart at Nicollet Avenue (0.0 km); Minneapolis City Center (0.6 km)computed
Retail trade in the county, 2025 (BLS QCEW)65,774 jobs in 3,548 establishments; average annual pay $47,428; employment location quotient 0.72; employment -2.5% on the yearBLS QCEW 2025, NAICS 44-45, private
Jobs located in the tract, 202267,057 jobs; 675 in retail trade, 4,942 in accommodation and food (workplace blocks summed to tract 27053126102)Census LEHD LODES8 WAC 2022
Upward mobility (Opportunity Atlas, 2010 tract)children of low-income (25th percentile) families reached the 40th income percentile as adults; 0.4% incarcerated at the 2010 count (29 children in the sample); born 1978–83, measured 2014–15Opportunity Insights
Food access (USDA FARA 2019, 2010 tract)not a low-access tract at 1 mile; poverty rate 20.3%; median family income $121,917; 478 SNAP householdsUSDA ERS
SchoolsMinneapolis Public School District (PK-12); 8 public schools within 1 mile: EMERSON ELEMENTARY; LORING-NICOLLET HIGH; STADIUM VIEW; WELLSTONE INTERNATIONAL HIGHNCES EDGE
Elevation840 ft above sea level at the site pointUSGS 3DEP
Storm events in the county, 2016-2025308 county-logged events: 139 thunderstorm wind, 122 hail, 25 heavy rain, 16 flash flood; $18,687,200 property damage reported; forecast-zone events (most flood, winter and heat) not countedNOAA Storm Events
Homes for sale in ZIP 55415, 2026-09median list price $394,500 (-9.3% on the year); 59 active listings; median 65 days on market; 15% with a price cutRealtor.com Research
Retail trade in the county, 2012 to 20233,714 establishments (-12%); 74,922 jobs (+1%)Census CBP
Housing market in the countytypical home value $386,707 (+1% 1 yr, +8% 5 yr); typical rent $1,784/mo (+4% 1 yr), 2026-09Zillow Research
Traffic on the busiest road within 600 m (2024)23,007 vehicles a day on Cedar Ave S (minor arterial, 6 lanes); 33 counted segmentsFHWA HPMS

Summary, model-written

Proposed redevelopment of Wells Fargo Home Mortgage campus (25 acres, Minneapolis) as mixed-use Iconic Plaza. City approved planning. Novarum Development Partners acquired site (2023).

Why. Strategy: redevelop/reinhabit. New uses include housing (explicitly listed), healthcare, education, retail, office. 25 acres aligns with peer projects (e.g., Four Seasons Mall, 22 acres).

Where it stands. Status: proposed but planning approved. Interior renovations began 2023. Public subsidy expected. Zoning change implied for housing conversions.

For a planner

  • Near Warehouse District (built)
  • Within 10km of 9 other sites (e.g., Kmart proposed, Minneapolis City Center partial)
  • Housing market data shows 2026 ZHVI $386,707 (1.4% YoY growth).

For a developer

  • Peer projects in MN (Four Seasons Mall, Delta site) share strategy.
  • Housing explicitly listed in new_use.
  • No timeline for construction provided.
  • Public subsidy expected but not confirmed.

What we do not know yet

  • No construction timeline.
  • Zoning change details unknown.
  • Public subsidy amount/structure unknown.
  • Traffic data shows minor arterial (6 lanes) but no retail demand context.

Generated by qwen3-30b-a3b-64k:latest on Dell 5820 RTX 3090 (Ollama, qwen3-30b-a3b) from the fields, parcels, deals and context layers on this page, with no outside knowledge. It is regenerated when the record changes and has not been checked by a person. How it is made.

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Elsewhere on the web

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Multifamily screen

  • already in play: under construction, approved, or sold to a developer with housing plans
  • 25 acres
  • median rent $1,439
  • housing in the record

Inputs: record fields (size, status) and county Census ACS 2018–2023 figures (growth, rent). How the points work. Not a recommendation.

History and original facts

Acres25.0newtypes-extraction
AnchorsWells Fargo Home Mortgage, Honeywell
CountyHennepin County
Census division4 · West North Central
NotesDraft from cbsnews.com, model-extracted, unreviewed: A long-vacant corporate campus in south Minneapolis is proposed to be redeveloped into a mixed-use project called "Iconic Plaza" with housing, healthcare, retail, and educational facilities.

Not yet recorded: GLA, year opened, original developer, retrofit year. Know it? Tell us.

Timeline

  1. 2023 acquisition announced
  2. 2023 city approval process to begin
  3. 2023 interior renovation to start

Sources

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