W. Broadway & Penn Avenue N.
The 5 Points project, located on the southeast corner of Penn Avenue North and West Broadway in Minneapolis, will result in a complete renovation of a classic, two-story commercial building. The 13,000+ square foot building, built in 1914, will house a radio station and another office user on the second floor, restaurants or other commercial uses on the first floor and basement.
The Ackerberg Group, as developer on behalf of Catalyst Community Partners, will fully renovate the building. The renovation will include new ADA accessible restrooms, the addition of an elevator, lead paint and asbestos remediation, new building lobby, significant façade improvements, new tenant spaces and common areas, new electrical, new mechanicals, new parking lot, new plaza, and more. The new 23-stall parking lot will have a bio retention area that will treat rainwater run off on site.
LOCATION
Located on two major transportation corridors in the Northside community of Minneapolis, the 5 Points project is conveniently located and accessible. West Broadway is the most prominent commercial corridor on the Northside and it provides connections for those in the northwest suburbs and the immediate area to get to Downtown Minneapolis. The result are traffic counts of approximately 21,200 vehicles per day at the West Broadway and Penn Avenue intersection.
5 Points is accessible to the area highway network, as it is located one mile from entrance/exit ramps to I-94 and two miles from I-394, and MN-100. The area bus network provides extensive transit service to area residents, employees, and visitors. Hennepin County is currently studying adding light rail transit or bus rapid transit through the area, with a recent-past plan including a bus rapid transit station adjacent the 5 Points project.
PLAZA
Adjacent the building’s west facade, a plaza of approximately 2,300 square feet will provide outdoor seating for potential restaurant tenants and open space for building tenants and the public to enjoy. The Ackerberg Group secured a $133,000 Transit Oriented Development (TOD) grant through Hennepin County for the build out of the plaza. The underlying land is owned by the Metropolitan Council. A long-term lease allows for building access and use.
TENANTS
KMOJ Radio will occupy approximately 3,329 square feet of office space on the second floor. KMOJ has grown from a 50 watt to 1,000 watt station since its 1976 formation. After several moves, the station currently lacks a permanent home. KMOJ’s tenancy on the second floor of the 5 Points Building would provide much needed stability to the Penn and Broadway corner.
KMOJ’s mission is to “develop and support the empowerment of the Black community through the power of mass communication by 1) providing information and education not offered through mainstream media outlets, and 2) teaching members of the Black community responsible journalism and media skills that offer professional experiences and increase the numbers of Black people employed in the media industry.”
An additional office tenant will occupy the remaining 1,969 square feet of second floor space. The Ackerberg Group and Catalyst Community Partners are in discussions with a restaurateur to open a sit-down restaurant for the majority of the first floor and utilize the patio space on Penn Avenue and a portion of the public plaza.
The building’s basement will be utilized by the first floor restaurant and/or an office user. A portion of the basement is anticipated to be used for storage.
Catalyst Community Partners is currently in discussions with a coffee shop operator who is considering opening a coffee shop in the 1,878 square foot commercial space on the corner of West Broadway and the plaza.
Collaborative Design Group is providing architectural and structural engineering services on the project. The firm provides an extensive range of services including full architectural design, planning, programming, space planning and interior design, structural engineering and analysis, historical preservation and archaeology services. Collaborative design has extensive experience in the creative reuse of existing buildings such as the Sears Building and Plaza Verde.
Financing for this project was provided by Franklin Bank, Metropolitan Council Metropolitan Livable Communities Fund, Hennepin County, Northside Arts Collective, the City of Minneapolis, LISC, and McKnight. The support of these organizations is representative of the importance the 5 Points project has to the community. |
3033 Excelsior Blvd. 