VOLUME 34, NUMBER 5
©2018 Real Estate Publishing Corporation
May 2018
After Years of Planning, Area around Ridgedale Center Being Redeveloped into Mixed-Use Community The city of Minnetonka wants to increase density, improve traffic flow, make area more walkable and add green space, trails
By Liz Wolf
F
or years, the city of Minnetonka has envisioned plans to transform the Ridgedale Center area into a higher-density, more walkable, mixed-use community that would become more of a gathering spot, rather than just a place to shop. Similar to other suburbs, Minnetonka is looking to make the city more pedestrian-friendly and attractive
to both empty-nesters and young professionals. Now that vision is starting to become a reality. Redevelopment proposals for sites around the mall are coming in, and Ridgedale Center itself has made major improvements. Built in the 1970s, Ridgedale has completed significant updates, including the redesign of the Macy's store, the addition of Nordstrom and a 50,000-square-foot expansion. Plus, additional development by mall owner GGP is underway.
The city’s vision for the area In 2012, the city released “Ridgedale: A Vision for 2035,” which essentially looks at how the Ridgedale area could look over the next two decades. In 2017, it released the “Ridgedale Area Public Realm Guidelines,” which focus on transforming the shopping center into a mixed-use community and providing developers with design inspiration and guidance. The master plan calls for adding 800 new housing units, 180,000 square feet of office/medical office Ridgedale to page 10
Ryan Companies Announces Leadership Transition
R
yan Companies US, Inc. announced today that President and Chief Executive Officer Pat Ryan will step aside from his current duties effective June 1st to become chairman of the company’s board of directors. Brian Murray will assume the CEO position. Along with owners Jeff Smith and Mike McElroy, Murray has helped lead Ryan’s day-to-day operations for the last five years. As part of the transition, Smith will take on the role of President and McElroy will be the company’s
Chief Investment Officer. Tim Gray, who currently chairs the company’s board of directors, will assume the title of Chairman Emeritus. “I’ve been blessed to work alongside phenomenal people for 35 years,” Ryan said. “I can’t begin to express my appreciation for that privilege but I can say that I’m so pleased to be handing off executive responsibilities to a tremendous team of leaders. Brian, Jeff and Mike are smart, capable, experienced and hardworking. And most importantly,
they understand and live our culture which, in the final analysis, is what differentiates us from our competitors.” “It’s a tremendous honor to take on an expanded leadership role at Ryan and to follow in the footsteps of a great leader like Pat,” said Murray. “This is an important time for our company as we look ahead to future opportunities. In a world where the pace of change is accelerating, we need to innovate Ryan Companies to page 14