Capstone Research Booklet: Kmart

Page 18

Project Brief

It wasn’t until recently that the

site next. Most recently, the USPS signed a

two parcel, 10 acre lot that sits directly

month contract to lease the site in July of 202

at the intersection of Lake Street and

The site is currently acting as the post offi

Nicollet Avenue in South Minneapolis

for 2 adjacent neighborhoods, both of which h

has come into the public eye. Though the

their own burned down during the 2020 Geor

site has been part of plenty internal

Floyd protests. Additionally, Covid-19 has sh

planning amongst the City of Minneapolis

down many of the local establishments forci

and neighborhood organizations, it was

surviving restaurant to be takeout only. 1 blo

not until local and state media outlets

east of the site is Interstate 35W on the hee

started asking why Kmart disrupts the

of its 4.5 year $239M renovation.

city grid at a major through-way in the heart of Minneapolis, Nicollet Avenue.

Upon further investigation, it was

discovered that the proposed “Nicollet Lake Development District” of the 1970’s was desperate for funding after much of the expected development along the corridors fell through. Luckily, an up and coming discount retail store named Kmart,

offered

millions

of

dollars

in needed funding to lease a future building, eventually shutting down any thoughtful

movement

north

or

south

along Nicollet Avenue. From this, we get to the 10 acre impervious structure and parking lot that we see today. This was the beginning of the "Bigbox" era.

Despite the City of Minneapolis

buying out the Kmart lease in 2020 for $9.1 Million, there really is no indication what will happen with the

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