Wells Fargo and Project for Pride in Living (PPL) last week announced a redevelopment agreement for the Wells Fargo bank at 3030 Nicollet Avenue. PPL and the Cultural Wellness Center, a community development organization, will conduct an extensive community process in 2021 to inform future uses and the overall development project. The process will include online meetings in Through July, 2021, as well as other outreach strategies.
The Cultural Wellness Center wil play a role as a co-developer with PPL, supported by Wells Fargo, in creating a transformative pre-development engagement process.
The process features parallel pathways of human capital investments and built environment investments that support the community as co-creator desired measurable outcomes that reflect the community’s aspirations for culturally-based solutions to real-world problems.
The project, which will be completed in phases, will include a bank branch, affordable housing units, commercial space and other uses informed by a community engagement process that will kick off in May.
The 3030 Nicollet Avenue site previously included a Wells Fargo bank branch and office building damaged during civil unrest in May 2020. Last fall, Wells Fargo issued a request for proposals from developers to reimagine the site to take full advantage of its proximity to transit and its place along the Nicollet Avenue corridor, which will be reopened in the coming years with the development of the former Kmart location. After Wells Fargo customers safely retrieved the contents of their safe deposit boxes, demolition of the Wells Fargo building was completed in mid-March, 2021.
“The destruction of our bank building was traumatic for our team and for so many in this South Minneapolis neighborhood,” said Laurie Nordquist, Central Lead Region President for Wells Fargo. “As we thought about transforming the 3030 site, we looked for a development partner that shared our desire to work with the surrounding community to ultimately inform how the site can better serve the neighborhood. PPL and the team they assembled brought the creativity in thinking and commitment to this process that will allow Wells Fargo to continue serving the banking needs of our customers while also putting the site to more uses that directly benefit our neighbors.”
The redevelopment is anticipated to occur in phases. The first phase will feature a new LEED-certified Wells Fargo branch as well as around 100 units of housing over first floor commercial and community space. The overall site will include at least 200 units of housing, the majority of which will be affordable. The affordable housing will meet Green Communities standards. The overall development seeks to meet a goal of 35[FK1] % of construction workforce hours going to people who identify as BIPOC and women. PPL has hired Design by Melo to lead the architectural design work.
Community Meetings will be held on the following Thursday evenings:
PPL will refine plans for the site in fall 2021 based on the community feedback. Construction for the first phase is anticipated to begin in 2022 with the first building opening a year later in 2023.