ARDEN HILLS, MINN. — Ryan Cos. US Inc. has purchased “Outlot A,” a 40-acre land site in Arden Hills, a northeast suburb of Minneapolis, for $12.7 million. The Ramsey County Board of Commissioners approved the purchase and sale agreement for the land parcel, which is situated adjacent to Rice Creek Commons, a planned residential and commercial redevelopment of the former Twin Cities Army Ammunition Plant (TCAAP). The parcel is zoned for commercial use under the city’s TCAAP Redevelopment Code. Alatus LLC continues to serve as the lead developer of the main 390-acre Rice Creek Commons redevelopment area. A preliminary development agreement with Alatus was approved in December.
Ryan will offer Outlot A as a build-to-suit that can accommodate 400,000 to 600,000 square feet. Development possibilities include a corporate campus, a research and development center, life sciences offices or manufacturing facilities alongside retail and restaurant space. The parcel will connect to the Rice Creek North Regional Trail for bicycle and pedestrian access. Ryan also expects to incorporate green space and outdoor gathering areas.
Ramsey County plans to request $25 million in funding from the Minnesota Legislature to build stormwater infrastructure and construct the main public roadway. The total future development value of Rice Creek Commons is estimated at $1 billion. In 2013, Ramsey County purchased 427 acres of the former TCAAP from the U.S. government with plans to clean up and redevelop the property. Work to clean up the site, formerly the largest contaminated site in Minnesota, has been completed.