02-20-1991 Planning Packet - Laserfiche WebLink

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. . •, •• • f ... . •• • . i • • •• • • •* -^r • •*■ j •*,• •.*.• V - t . *• ;.V-: .•»! • • V • * • . . - .. • * * ‘ .1 • • •. * •. . • • * •• • • • ' :• . * • • . •• • « • • t. • • j 't I . 1 . ri; • . •. E>.\ pi V ^ • ■ Highway from <V> *' fr» ^ ..*3 - * 'Jk"' «. mW ‘.V.^ ■ •.. f7> * r.' V (/, 1^94 Is the most expensive pejeet of Its kind- end the most desisiotlve* B Y BRIO j. WIBfBERINQ PATTI SOSKIN opened her Golden Valley restaurants October 1989 to rave reviews and within weeks had attracted a devoted clientele —a smddcvoted clientele. To increase the number of people who might ventue onto Interstate 394 to sample her fare in the Colonnade building. Soskin began adverting on bdlboards. Ust suxnmer, she rented one on the highway near downtown MinneapokTmd Patti s, it implored. But it was too late. One month after the billboard weiup. on August 6. Patti s closed. conm.«, cu«, “W. ..nl ou. of bu.in.« b.c.0.. » 'he t. n. .ffom. "If. .0wuiiiiiiwii vawvvi the hiahwty," ihe ley*. "People weren't willina to put up with traffic hastles to try i new restaurant." At a price of S36.4 rniDion per mile, not includina the $120 million to be spent for three parking garages in downtown Minneapolis, the conversion of U.S. Highway 12 from a four-lane. ilow-moving commer* ci^ Strip into 11 miles of state-of-the-art f^way, stretching from Interstate 494 to downtown Minneap olis. is one of the most eipeniive highway construc tion projecti in Minnesota history. It has also been one of the most destructive, cutting a swath through an established business diatrict, most notably the ragment between state highways 169 and 100; laying waste to many businesses end property val uer. and generating a slew of litigation. Of the con- Bnu me ppvepawtt —----------- - ..I I actually » definitely hurt leasing efforts. It s an uphill baibto get people out there," he says. The Laoln Del, at the southwest corner of the in- iersectioif lOOand 394, has closed. The Ambassador Motel, tld)eri ne»t-door neighbor, and the Holiday Inn in Stltauts Park, located near the ) 69 interchange on the hj|wey, are now owned by their lenders. The SheratonMt Place hotel, south of the highway at Tumen Bonmads, averted foreclosure by renegoti ating thcMna of its mortgage. .Many until businesses hjvt cithnnoYtd or closed their doors. Properties for mIc havatagDiihed on the market. Most briMU owners and landlords agree that the new highag wti needed, but few would have guessed that the*rtruction would have such a devastatinguer. and ecnerating a slew of litigation. Of the con- that ine*rtnicnon wouio iw c » .m^iw L. M fi .lm«. on^founh (S90.» mmon) efte. has gone toward acquisition of land for the rud. but "We cA War Zone II. rays norpe. ^ -i —mmmmm f Wfl ilB IR C Oil IT, wc OM WBJ We —.............. - - of Thorpriirea. Commercial Real Estate, which has its officeiBaS Wtyuta Boulevard in St. Louis Park. nts gone cowirQ loquisHim w iw# e^^ " WU* ^'hJJingmrMriilTwrh^ Its officeM5 wayuta tsouievwo m ai. - - - inviluCsTransportation (MnDOTV Patti’s IS only one example of the carnage among the businesses once or presently located on the new 394. Soskin's former landlord, Trammell Crow Compeny, it now trying to deed the Colonnede office building in Golden Valley back to the lender, an action not totally the T>)lWrEST Chamber of Commerce and some larger buMSCl have begun a publicity campaign to counter ib peraepfion that 394 it a P«tking jot crowdedtfb heavy earth-moving machines. "We re f'-if I uVc^^crin#iifrefifwnrr»arCoanoaATWnoBTMiNNr»sOTA l i:V-r:-< • • ¥ r If .4^ F I