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Friday, December 14, 2012
Metropolitan Council awards $10 million for transit-oriented development in Twin Cities
The Metropolitan Council has approved $10 million in grants to spur real estate development projects and job growth in the Twin Cities' transit corridors.
The funds were awarded from a newer category of grants within the Livable Communities program to advance transit-oriented development, council officials said in a prepared statement.
"Investing in development and jobs along transit corridors is a key council priority," said Chairwoman Susan Haigh.
The grants included:
• $2 million for the Mill City Quarter in Minneapolis for remediation, stormwater management and other improvements that support a mixed-use development in the downtown area within walking distance of two platforms of the Metro Transit Hiawatha Blue light-rail line;
• $1.9 million for land acquisition, site preparation, stormwater management and other site improvements to support development of an apartment complex near the Metro Transit Central Corridor (Green) light-rail station;
• $1 million for street construction in Bloomington that will support the development of a hotel and connections to the Bloomington Central Station on the Hiawatha Blue Line; and
• $505,000 for improvements to support housing in the Corcoran Triangle in Minneapolis near the Hiawatha Blue Line.
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