Rochester, MN (KROC-AM News)- The Rochester City Council has voted to enter exclusive negotiations with a developer for the future of the Silver Lake Power Plant.
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Landmark Development, which was involved in creating the Destination Medical Center master plan, approached the City of Rochester with a proposal for what city staff describes as a transformational project at the location.
The agreement allows for additional studies into the feasibility of the company’s proposal to redevelop the power plant site and surrounding properties as a “stadium-anchored mixed-use district.”
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A news release issued by Landmark following the vote says baseball, hockey and soccer teams, along with other civic, cultural and business attractions would be the main tenants of a “new indoor and outdoor sports and multipurpose venues in downtown Rochester.”
“These facilities will be just the first phases of a broader ‘ONE Rochester’ mixed-use development to include an exciting mix of retail, dining and entertainment programming for residents, workers, and visitors in Rochester,” Landmark President Robert Dunn said in the statement.
The company says it has partnered with the Rochester Honkers for the development. The Northwoods League Baseball team opted out of its lease at Mayo Field earlier this year and is playing its last season at the ballpark.
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The United States Hockey League (USHL), which is eying Rochester as a home for an expansion team, and the Rochester Football Club have also joined the development effort, the news release says.
Landmark also says the possible development would include “building out key transit and mobility components that are consistent with the City’s and Destination Medical Center’s transit plans.”
Years of Study Required
City staff indicated a project of this magnitude will require years of study before any final decisions are made on the sale of the property.
“Evaluating a project of this magnitude requires extensive market analysis, site due diligence, infrastructure planning, and financial modeling to determine whether redevelopment is feasible,” the agenda item says.
The Silver Lake Power Plant site was identified as surplus property by the city last year. It was envisioned that an actual decision on the fate of the property would likely not occur until the 2029–2031 timeline, which would align with the extensive study needed for the Landmark proposal.
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The agreement does not obligate the city to sell the property, set a price for the land, approve the redevelopment plan, or commit any public financial resources.
TIME TRAVEL! Take a trip back to Downtown Rochester in 2005
A bunch of photos taken in 2005 highlight the dramatic changes that continue to impact the city’s downtown area.
Gallery Credit: Andy Brownell
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