Friday, January 28, 2022

One-mile site in Oakdale poised for $ 1.3 billion growth spurt

A change is coming with regard to empty fields on 34th Street in Oakdale.

The one-mile site east of Interstate 694 is ready for a $ 1 billion new development, making it one of the fastest growing regions in the state.

Five new projects are underway or proposed for the area, including two on Lake Elmo. Together, they will add up to 1,800 homes and businesses the equivalent of 81 soccer fields.

The projected costs are not yet available for all projects, but at current prices for residential and commercial construction, a rough estimate can be made: $ 1.3 billion.

PLOT OF 330 ACRES

The explosion of the building was caused, directly or indirectly, by 3M.

For 60 years, the company owned, but did not develop, a 330-acre parcel of land in Oakdale. This resulted in the preservation of vast areas on I-694.

The company transferred part of the land to its subsidiary Imation, which eventually ceased operations. The company sold part of the land to Slumberland, and in 2019 3M gave 180 acres to Lake Elmo to settle a lawsuit over chemicals that pollute the environment.

Other developers waited for 3M to finally get rid of their property, and these developers started creating their own projects.

As a result, 34th Street suddenly became a hotbed of growth.

PLANS FOR HOME, BUSINESS

On 180 acres of Lake Elmo, various scenarios require up to 400 homes and 1.8 million square feet for businesses.

City Administrator Christina Handt said the city council is likely to begin projects in March. The site already has a water tower and engineering networks.

A million-square-foot cargo and warehouse center is planned across 34th Street. Texas-based Cyber ​​Logistics has proposed a $ 104 million project on a 77-acre site.

To the west is the proposed 60-acre Oakdale Market, adjacent to the existing Target store.

JPL Development offers 380,000 square feet of building space for shops, restaurants and self-service storage. Oakdale City Council heard of the proposal at a seminar on November 23rd.

Immediately across 34th Street to the north is larger than the former 3M site. At the 4Front Technology & Office Campus, developers want to build 700,000 square feet of business space on 122 acres.

Willoughbrook Residential Complex in Oakdale. (John Auty / Pioneer Press)

To the north is the largest housing project in the history of the Eastern Metro: the Willowbrooke project with 1,410 houses.

Lennar Corp. is building a project on the site of the former 3M. Ultimately, the project will include single-family homes, apartments and a gated community of 280 townhouses.

Of the five projects, Willoughbrook is the only one to break the ground underfoot. The rest are in various stages of obtaining approval from the city authorities.

Nation World News Deskhttps://nationworldnews.com
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news
- Advertisement -