RD Management Announces Expansion Plan for Midway/Allianz Field Mixed-Use Project in St. Paul, MN
Zoned for multi-use, property presents opportunity for businesses to benefit from adjacent stadium development
NEW YORK—November 13, 2017—RD Management LLC, one of the nation’s largest privately held real-estate development and management organizations, announced today its future expansion plan for the Midway/Allianz Field mixed-use project in St. Paul, Minnesota. With 20 acres zoned for multi-use, the company intends to add additional retail, office, residential, entertainment, and hospitality options to its property following the completion of the adjacent Allianz Field. Construction of the $200 million soccer stadium will be completed in spring 2019 and will draw thousands of new visitors to the area.
The future expansion of the Midway/Allianz Field mixed-use project will include the construction of new buildings and is part of a master plan to be built along the western edge of the property on Snelling Avenue. The current L-shaped space on the eastern side of the property with 20 active businesses will remain intact following the demolition of Rainbow, Walgreens, Home Choice, and Big Top Liquor to make way for the new stadium.
“Our plan to expand the Midway/Allianz Field project and turn it into a mixed-use experience is an early-stage development that presents tremendous opportunity,” said Richard Birdoff, principal and president of RD Management. “Centrally located between two major cities with access to great public transportation, Midway will one day provide a modern live-work-play destination for locals and visitors to the beautiful new stadium next door. We look forward to growing our tenant-base to include sectors beyond retail, while enhancing our current retail offerings.”
Located at 1460 University Avenue West and Snelling Avenue North, the 293,732-square-foot Midway is halfway between Minneapolis and St. Paul in a high density area with 406,200 residents in a five-mile radius. Shoppers can access the Midway/Allianz Field mixed-use project via the new Light Rail Transit line connecting downtown Minneapolis with downtown St. Paul or by rapid bus transit along Snelling Avenue, which connects parts of the northern and southern suburbs. The property is also situated on the busiest, largest freeway system in the state with a two-way average daily traffic of 160,000 cars per day. Midway Marketplace is adjacent and houses complementary retailers Walmart, Cub Foods, and LA Fitness.
“This is a truly transit-oriented development that will be highlighted by the most attractive, newest soccer stadium in the U.S.,” said Minnesota United FC owner Bill McGuire. “The stadium will increase business for existing tenants, and once expanded, Midway and the stadium together will reinvigorate the neighborhood and advance the community.”
RD Management has more than 150 properties in its national portfolio. Those interested in pre-leasing the additional space at the Midway/Allianz Field mixed-use project can contact Darren Sasso at (212) 265-6600 x354 or firstname.lastname@example.org.
About RD Management
Consistently ranked among the nation’s largest, privately held real-estate development and management organizations, RD Management owns and operates a portfolio of 150+ assets throughout the United States and Puerto Rico, with properties spanning the mixed-use, retail, office, residential, hospitality, self-storage, senior/student housing, industrial, and government sectors. RD Management specializes in development, redevelopment, and acquisitions in key markets and maintains in-house expertise in leasing, property management, construction, accounting and finance, legal, and information technology services. With more than 40 years of experience, RD Management has a proven track record of enhancing the value of its properties through hands-on management, renovation, and expansion. For more information visit www.rdmanagement.com.