Caribou Coffee Planned for Gateway Motel Redevelopment Project
ST. CLOUD -- The plan to tear down the Gateway Motel in east St. Cloud and replace it with a new retail building is moving forward, and we now know at least one potential tenant for the new building.
Caribou Coffee is one of three potential retailers that would be at the corner of Lincoln Avenue and Highway 23. Economic Development Director Cathy Mehelich says they are the only confirmed tenant at this point and the whole project is pending TIF approval.
The St. Cloud Planning Commission will be asked to approve a Tax Increment Financing district during their meeting on Thursday.
The redevelopment by Midland Atlantic Properties will include a new 5,200 square foot commercial building with Caribou Coffee occupying part of the building.
Back in May, we told you the Minnesota Department of Employment and Economic Development has awarded the city a nearly $116,000 redevelopment grant for demolition, asbestos abatement, and infrastructure improvements on the nearly one-acre site. The city will be required to create a Tax Increment Financing District in order to get the state funds.