Scoop: Mayor Frey wants Wolves arena at City Center site
Add Axios as your preferred source to
see more of our stories on Google.
Photo: Nick Halter/Axios
Minneapolis Mayor Jacob Frey is pushing the City Center complex as a potential site for a new Timberwolves/Lynx arena, according to multiple sources familiar with the talks.
Why it matters: The idea — first floated by Axios — would mean demolishing one of the city's tallest towers and bringing an NBA arena onto the struggling Nicollet Mall.
What they're saying: Frey did not confirm or deny that he's pushing that location to team leaders, but told Axios: "You are right — I really like the site. ... I see the ability to literally march down Nicollet Mall to games and concerts and have a full pedestrian experience."
Catch up quick: City Center is mostly vacant, and its owner, Samsung, has put the complex up for sale after receiving $110 million from Target to exit a nearly 1 million-square-foot lease.
- The site is about 40% larger than the footprint of Target Center, which is 36 years old.
The other side: Officials with the Timberwolves/Lynx declined to comment, and it's unclear how enthusiastic they are about the site because Alex Rodriguez previously indicated that he and co-owner Marc Lore want nearby land to develop an entertainment district. The City Center site is boxed in.
Yes, but: Frey told Axios that there are opportunities for the team to acquire existing buildings at a lower cost for redevelopment.
- "This is a different economic development proposition in that the bones of some beautiful buildings are already in place," he said.
- The next-door Dayton's Project, which could be headed toward foreclosure, may offer additional redevelopment opportunities.
Reality check: The City Center site presents plenty of hurdles.
- While the retail and office complex is for sale, the Marriott hotel in the complex is separately owned by Host Hotels & Resorts of Maryland, which did not respond to a request for comment.
- "I don't have any news to break there," Frey said when asked about the hotel's willingness to sell.
- The other sticking point could be public subsidies, should the Wolves/Lynx ask for them. Frey said his position remains the same — he's opposed to them.
The bottom line: Frey left the door open to other downtown sites, saying that both he and team leaders are in full agreement that any new arena should be built in downtown Minneapolis.
- Asked whether the larger farmers market area on the northern fringe of downtown — which Rodriguez has previously suggested as a possible site — is part of downtown, Frey said it is.
- "That is one of the options that is available. I think it offers opportunities, but there are also drawbacks."
What's ahead: Wolves CEO Matt Caldwell told reporters in January the most optimistic timeline would have the team selecting an arena location by the end of 2026.