Prime Address for Prime Therapeutics
Prime Therapeutics, a Twin Cities pharmacy benefit company broke ground on its new facility in northeast Eagan in mid-June. The site will consolidate many of their current operations into 40,000 square feet on roughly 40 acres south of Interstate 494, east of Dodd Road – adjacent to the new Minnesota Vikings development that is currently underway.
At the groundbreaking, Gordy Stofer, vice president of office development for United Properties – the project’s real estate developer said, “We’re extremely proud to be working with the Prime Therapeutics team to help them bring their vision of a more efficient and consolidated workplace to life. [This] is one of the largest office projects currently being built in the Twin Cities area.”
Jim DuCharme, Prime’s President and CEO commented,“Today’s groundbreaking represents a major milestone in Prime’s evolution as a company...we’re thrilled to be staying in Eagan, a city that is home to so many of our Minnesota-based employees, as it provides the skilled and vibrant workforce our company needs to thrive.”
In his comments at the groundbreaking, Mayor Maguire thanked Prime for choosing Eagan nearly 20 years ago and for continuing to choose Eagan. He noted, “There is a lot to be proud of in Eagan right now from growth in healthcare and technology jobs, to new retail and entertainment. I know I speak for the entire City Council when I say that we have always envisioned major quality developments in this sector, and you and United Properties are making that happen.”
Eagan Leads the Pack for Residential Construction in May
So says a May 30, Finance & Commerce article headline. The article features Eagan heavily and we couldn’t have said it better. Excerpts include:
Eagan accounted for roughly 45 percent of May’s multifamily units. That includes the Affinity at Eagan project, a 174-unit, four-story independent senior living complex near a Red Line bus rapid transit stop and the Twin Cities Premium Outlets mall.
Also reflected in the [Keystone] May report is Headwaters Development’s 95-unit, 130,000-square foot Stonehaven of Eagan Senior Living project (near the Fire Safety Center at Yankee Doodle Road near Lexington Avenue). The project will include 80 independent- and assisted-living units, and 15 memory care apartments.
United Properties’ 24-acre “Quarry Road Mixed Use” development at 1555 Yankee Doodle Road is in the pipeline. The site is a third of a mile west of the Central Park Commons mixed-use development.
The Quarry Road development includes United Properties’ 96-unit Applewood Pointe senior housing cooperative on the northwest portion of the site, and StuartCo’s 183-unit, four-story apartment building on the northeast portion.
In addition, Nebraska-based Commercial Investment Properties has a deal to buy a property within the Cedar Grove Redevelopment Area from the City for a four-story, 150-unit market-rate apartment building and a 7,650-square-foot restaurant. The purchase price is $1.725 million, according to City documents. The project site is bordered by Eagan Outlets Parkway, Rahn Road, Cedar Grove Parkway and Fen Way.
Jill Hutmacher, Eagan’s community development director, said the market is “responding favorably to the development that has happened here,” between the outlet mall and the bus rapid transit station.
The Minnesota Vikings are building a new headquarters facility at Dodd Road and Lone Oak Parkway. The Vikings development is expected to eventually include up to 1,000 housing units & other new uses on the former Northwest Airlines headquarters campus.
“There is a lot happening and investors want to go where other investment is happening,” Hutmacher said.
Eagan led the metro with 11 permits for 408 new units. Other multifamily hotspots in May were Lakeville (45 permits, 196 units), Shoreview (one permit, 134 units), St. Louis Park (five permits, 115 units) and Minneapolis (15 permits for 61 units).
Current Development Map
Don’t forget you can stay top of all the latest development projects in Eagan with the online Current Development Map. The map provides the basic facts on each project as well as links to more detailed planning documents plus photos and renderings of the final project.
