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New York-based 601W is fueling Dayton’s second life with debt, more than $40 million in equity contributed by 601W and limited partner investors and about $70 million so far in net tax credits.
The Dayton’s Project projected opening is spring 2020. Developers of The Dayton’s Project in downtown Minneapolis are hoping to lure a unique restaurant to the former JB Hudson Jewelers space in the former Dayton’s/Marshall Field’s/Macy’s department store. That’s no surprise: it’s been part of the plan all along.
1 day ago · The once-heralded Dayton's Project is sent to receivership. The developer that turned the old downtown Dayton's department store into a massive office and retail complex is in jeopardy of losing the building as its lender attempts to foreclose on the property. Why it matter: The $350 million redevelopment on Nicollet Mall was once the most ...
FACT SHEET. nerations. Now, the iconic building is being reinvented for the 21. district. The Dayton’s Project development team – led by Telos Group and 601w Companies – is dedicated to realizing the building’s potential while also taking care to honor and secure its place .
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- So Much Vacancy
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What does the Dayton’s Project have going for it? For starters, it has a prime, central location in the heart of downtown Minneapolis. Several office brokers say the redevelopment has created a standout package of amenities, including a rooftop deck, a 10,000-square-foot fitness room, a bar and lounge on the seventh floor, and a quiet retreat space...
To the average citizen, this Dayton’s Project may still look like an impossible dream—spending untold millions to buy and renovate what was a hulking, creaking, vacant old department store, then convincing office and retail tenants that they need to be there because it’s the coolest place in town. But that’s 601W’s business model—acquiring vintage,...
In its final years of operation as a department store, the constant question in downtown Minneapolis was, “How long can it stay open?” Since the redevelopment began, the question has become, “When the heck is it going to open?” As a department store, Dayton’s was the apex of downtown shopping. But the Dayton’s Project will be an office building fir...
The Dayton’s Project totals 1 million square feet of commercial space. The 601W Cos. plan calls for 750,000 square feet of office space and 250,000 square feet of retail space. As of mid-September, only about 100,000 square feet had been leased: 1. Ernst & Young(EY): 30,536 square feet, office 2. Gansevoort Market: 57,325 square feet, retail/food h...
The IDS Center and City Center are both across the street from the Dayton’s Project. Both have recently invested in upgrades and are drawing new tenants. The IDS spent $5 million on an upgrade of the Crystal Court that was completed in July. Its 166,110 square feet of retail is currently 87 percent leased. The new Noarestaurant opens in the former ...
February 2017: 601W Cos. acquires the property for$59 million. March 2017:Macy’s closes. December 2017:Plans for destination food hall announced. March 2019:Developers announce opening pushed back to 2020. March 2020:The Covid-19 pandemic and subsequent shutdown put opening plans on hold. March 2021: First office lease (EY) announced. June 2021:601...
Aug 8, 2019 · Wondering when you can see the new Dayton’s Project for yourself? The grand opening is scheduled for Spring 2020. Keep following us here for news and details as the opening approaches. Rendering...
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When the old Dayton’s department store was demolished 6 years ago, there was much fanfare about what it would become before it was decided it would be turned into a state-of-the-art office...
