$400 Million Plan Would Transform Minneapolis Downtown East

MINNEAPOLIS (AP) — Developers have announced a $400 million plan to transform an eastern stretch of downtown Minneapolis near the new Vikings stadium.

Ryan Cos. said Tuesday the five-block area, now owned by the Star Tribune, would become home to two, 20-story office towers. Retail stores and 300 residential units also would be part of the development.

The towers would face a park spanning two city blocks along the light-rail line flowing into a plaza leading to the $975 million Vikings stadium. A proposed parking structure would accommodate office workers and stadium spectators.

The development is expected to be completed by July 2016, in time for the stadium opening.

Star Tribune spokesman Steve Yaeger (YAY'-gur) says the newspaper hopes to complete its move by the end of 2014.