The Minnesota Department of Employment and Economic Development announced Tuesday, Oct. 8, that it has awarded $350,000 to Alexandria to redevelop a 2.31-acre spot on Broadway and Third Avenue previously occupied by Blue Collar Bob's and Bello Cucina restaurant.
The money for the Alexandria Economic Development Authority will come from the state's Redevelopment Grant funds and go toward demolition and infrastructure improvements for the $14 million project, led by developer GoodNeighbor Properties, LLC.
This site will be redeveloped to a four-story, mixed-use building offering 23,450 square feet of retail and professional space, 75 apartments and one level of underground parking.
The state said this project is anticipated to create 37 jobs and increase the tax base by $209,847. Matching funds will be provided by tax increment financing and the developer.