Finance and Commerce Daily Newspaper, MN articles from September 2005

Finance and Commerce Daily Newspaper, MN archives from September 2005

Twin Cities developer Colleen Carey starts nonprofit foundation to invest in communities.
September 1, 2005... Byline: Bill Clements The founder and head of The Cornerstone Group is tall, good-looking - and a woman. That last descriptor is unusual, especially for a real estate development company in the Twin Cities. But you can't argue...

Developers bet on northeast metro area of St. Paul for office development.
September 1, 2005... Byline: Burl Gilyard While construction of new office towers in the core downtowns seems unlikely any time soon, office development appears to be gaining momentum in the suburbs to the east of downtown St. Paul. Carlson Real Estate is...

Former dry cleaner site in Minneapolis to get a cleanup.
September 1, 2005... Byline: Brian Johnson The Despatch Laundry-White Way Cleaners property has been an eyesore in Minneapolis' Whittier neighborhood for years, but Hennepin County officials say redevelopment plans for the polluted site are finally gaining...

New Mississippi Headwaters group aims to promote 'green' buildings in the upper Midwest.
September 1, 2005... Byline: Brian Johnson The U.S. Green Building Council hopes a newly formed local USGBC chapter will be the "go-to source" for green building information in the upper Midwest. The new Mississippi Headwaters chapter - which covers...

Minnesota chapter of Associated Builders & Contractors seeks nominations for industry awards.
September 1, 2005... Byline: Finance and Commerce Staff The Minnesota chapter of Associated Builders & Contractors (ABC) is seeking nominations for its annual awards. Categories are the construction company of the year, associate or supplier of the year,...

St. Paul-based American Engineering Testing announces hire, promotion.
September 1, 2005... Byline: Finance and Commerce Staff St. Paul-based American Engineering Testing Inc. has added an employee and promoted another. Joseph Korzilius joined the firm as a principal engineer in the geotechnical division. He spent 21 years...

Home improvement expo set for Sept. 10-11 in downtown Minneapolis.
September 1, 2005... Byline: staff The Home Improvement and Design Expo will be held Saturday and Sunday, Sept. 10-11, at the Hyatt Regency Ballroom, 1300 Nicollet Mall, in downtown Minneapolis. The event will include 200 exhibitors, including decorators,...

Condo projects in Minneapolis increasingly become flashpoint for battles over height of buildings.
September 1, 2005... Byline: Burl Gilyard Developer Troy Mathwig has pulled his application for a 162-unit condo project in near northeast Minneapolis because of disagreements with the city over the height of the proposed building. The latest dustup over...

Minneapolis-based Marshall Group on hot lending pace in housing, hospitality sectors.
September 1, 2005... Byline: Mark Anderson It has been a solid year for many construction and development lenders, but the Marshall Group's recent track record has been something to envy. The Minneapolis-based investment-bank-cum-commercial-bank is on...

Howard R. Green Co. hires staff engineer in St. Paul.
September 1, 2005... Byline: Finance and Commerce Staff Andrew McGovern has joined Howard R. Green Co. as a staff engineer with the firm's municipal services group in St. Paul. McGovern previously was a municipal engineering technician with duties that...

Intelligent Transportation Society of Minnesota plans fall forum.
September 1, 2005... Byline: Finance and Commerce Staff The Intelligent Transportation Society of Minnesota will hold its fall industry forum on Wednesday, Oct. 19, in Minneapolis. The half-day session will include presentations on the design/build...

St. Paul Building Owners & Managers Assn. meeting will examine artist program.
September 1, 2005... Byline: Finance and Commerce Staff The next meeting of the St. Paul chapter of the Building Owners & Managers Association (BOMA) will focus on art and how it relates to commercial space. The program will look at the city's "Artist in...

St. Paul Travelers awards grants for housing and commercial development.
September 1, 2005... Byline: staff St. Paul Travelers and its two private foundations donated $4.1 million in the second quarter to community groups in the Twin Cities and Hartford, Conn. The grants included more than $1.4 million for affordable housing,...

University of St. Thomas offering course in real estate development.
September 1, 2005... Byline: staff The University of St. Thomas will offer a "mini-master" of real estate development class at its Minneapolis campus, starting this month. The course is scheduled for 6 to 9 p.m. on Thursdays, from Sept. 15 to Dec. 22, at...

Terry Swor recognized by American Council of Engineering Companies of Minnesota.
September 1, 2005... Byline: staff Terry Swor has received the President's Award from the American Council of Engineering Companies of Minnesota. Swor, who is president of American Engineering Testing Inc. in St. Paul, was recognized for his association...

Study points to property tax inequities in St. Paul's Midway area.
September 1, 2005... Byline: Bill Clements Midway Books at Snelling and University avenues in St. Paul pays more per square foot in property taxes than the Target store just a few blocks east, according to a new property tax analysis by University United. ...

MN Marketing Briefs: September 1, 2005.
September 1, 2005... Byline: Bob Geiger St. Louis-based commercial real estate management firm Colliers Turley Martin Tucker (CTMT), whose roots go back nearly a century in the Twin Cities, is girding for what marketing insiders call a "brand audit" after...

Visitors to MN State Fair share their concerns about state government with lawmakers.
September 2, 2005... Byline: Charley Shaw (This article was originally published in the St. Paul Legal Ledger, another Dolan Media publication). Visitors to the Minnesota State Fair are usually thinking about cheese curds and amusement park rides when they...

Interview with new executive director of Progressive Minnesota, a political action group.
September 2, 2005... Byline: Charley Shaw (This article was originally published in the St. Paul Legal Ledger, another Dolan Media publication). Last month, Progressive Minnesota hired a new executive director. Ryan Greenwood, who takes over for Ben...

Commentary: Court decision expands general contractors' obligations for OSHA compliance.
September 2, 2005... Byline: Dan Cahill (This article was originally published in the North Carolina Lawyers Weekly, another Dolan Media publication.) General contractors have an increased responsibility to insure that their subcontractors and their...

Commentary: A crew, a claim, the courts and the confession.
September 3, 2005... Byline: Candace Doyle (This commentary originally appeared in The Daily Reporter, Milwaukee, Wis., another Dolan Media publication). I have a confession to make that may make a lot of women cringe: I'm often dismissive of sexual...

MN Marketing Briefs: September 3, 2005.
September 3, 2005... Byline: Bob Geiger Fallon Minneapolis has hired two co-creative directors to replace Bruce Bildsten, who resigned as executive creative director last week. Bildsten, 47, quit after his job became redundant when Paul Silburn was hired...

Minneapolis land investor buys oceanfront land in Costa Rica.
September 8, 2005... Byline: Bill Clements Patrick O'Neil is an Irish scrapper, a short and lean bundle of energy whose Horatio Alger-like life story is a study in striving. From small-business owner to stockbroker to writer of stock tip newsletter to...

Welsh Cos. completes first real estate investment fund.
September 8, 2005... Byline: Mark Anderson Welsh Cos. is heading into the property-acquisition markets with a little more cash and flexibility after the closing of its first real estate investment fund on Aug. 31. Welsh raised $33 million for its Welsh...

Minnesota's Orchestra closes chapter with sale of Brooklyn Park site.
September 8, 2005... Byline: Mark Anderson The Minnesota Orchestra's great real estate adventure is officially over, and its frequent corporate sponsor, Target Corp., has picked up the pieces. In a two-stage transaction, Target acquired the 105-acre site...

Twin Cities developer Rich Pakonen invests in beachfront property in Costa Rica.
September 8, 2005... Byline: Bill Clements Pat O'Neil may be crazy, but he's not nuts. And he's not the only person in the Twin Cities more than a little excited about pouring significant capital into beachfront property in Costa Rica. Developer Rich...

Minneapolis chapter of Building Owners & Managers Assn. to examine condo development.
September 8, 2005... Byline: F & C Staff The September meeting of the Minneapolis chapter of the Building Owners & Managers Association will examine condo development in downtown Minneapolis. Guests will be Grady Hamilton, project manager for the Lander...

Stratasys Inc. agrees to buy Eden Prairie facility for $5M.
September 8, 2005... Byline: F & C Staff Stratasys Inc. has reached a purchase agreement for an 86,000-square-foot building adjacent to its corporate headquarters in Eden Prairie. The company said it agreed to pay $5 million for the office and...

Wells Fargo Home Mortgage sets grand opening of office campus in Minneapolis.
September 8, 2005... Byline: F & C Staff Wells Fargo Home Mortgage will celebrate the grand opening this afternoon of its office campus, 2701 Wells Fargo Way, at the former Honeywell site in south Minneapolis. The ceremony marks the completion of five years of...

Minneapolis women lawyers making inroads in construction law market.
September 8, 2005... Byline: Barb Jones (This article was originally published in Minnesota Lawyer, Minneapolis, MN, another Dolan Media publication.)It's a sign of the times in both the construction industry and the legal profession when the two major...

Northco/Navigator Core Real Estate Fund buys 5353 Wayzata Boulevard building.
September 8, 2005... Byline: Burl Gilyard A new real estate fund, Northco/Navigator Core Real Estate Fund LP, announced its first purchase last week - the 121,000-square-foot 5353 Wayzata Boulevard building in St. Louis Park. Northco/Navigator paid $13.5...

First National Bank Building in downtown St. Paul enters foreclosure.
September 8, 2005... Byline: Burl Gilyard Lenders foreclosed on the First National Bank Building, 332 Minnesota St., in downtown St. Paul on Aug. 26. Ramsey County District Court Judge Steven Wheeler appointed Colliers Turley Martin Tucker as the receiver for...

U.S. Bancorp has most Minneapolis-area banks bearing its name; Wells Fargo uses more local space.
September 8, 2005... Byline: Burl Gilyard It seems you can't go far in this town without running into a building named for either San Francisco-based Wells Fargo or Minneapolis-based U.S. Bancorp. Curiosity got the better of me, and I began to wonder which...

Howard R. Green Co. hires marketing specialist in St. Paul office.
September 8, 2005... Byline: Finance and Commerce Staff Jody Elam-Foote has joined Howard R. Green Co. as a marketing specialist in the St. Paul office. Elam-Foote, who has more than 18 years of industry experience, will coordinate the marketing activities...

11th Annual Twin Cities Commercial Real Estate Forecast set for Oct. 6.
September 8, 2005... Byline: Finance adn Commerce Staff The University of St. Thomas will sponsor the 11th annual Twin Cities Commercial Real Estate Forecast on Thursday, Oct. 6, at the Depot in downtown Minneapolis. The keynote speakers will be Dan...

Island Station development in St. Paul draws interest as it hits market for $10M.
September 8, 2005... Byline: Bill Clements Island Station, the St. Paul development that has endured a long and hard birth, is for sale for $10 million. Bloomington-based Welsh Cos. is handling the sale. Welsh officially released the sales book Aug....

Construction begins on Skyscape condos in downtown Minneapolis.
September 8, 2005... Byline: Mark Anderson Another of the large downtown Minneapolis residential condo developments has reached the construction stage. Chicago-based Tandem Development broke ground in late August on its Skyscape condos, a 252-unit,...

2005 Women in Finance award winners to be honored Oct. 25 in Minneapolis.
September 8, 2005... Byline: F & C Staff Financial professionals from the world of banking, construction, accounting and real estate are among the 15 winners of the 2005 Finance and Commerce Women in Finance Award. The honorees will be recognized during a...

Ivy Tower redevelopment project in downtown Minneapolis moves ahead.
September 8, 2005... Byline: Burl Gilyard After being in the pipeline for years, plans to redevelop the historic Ivy Tower, 1115 Second Ave. S. in downtown Minneapolis, are moving forward. Last week, White Plains, N.Y.-based Starwood Hotels & Resorts Worldwide...

Debate in Minnesota continues over No Child Left Behind rules.
September 9, 2005... Byline: Charley Shaw (This article was originally published in the St. Paul Legal Ledger, another Dolan Media publication). Two DFL state representatives railed against federal education requirements on Tuesday as "unfunded and...

Campaign software in Minnesota shows political colors.
September 13, 2005... Byline: Charley Shaw (This article originally ran in the St. Paul Legal Ledger, St. Paul, MN, another Dolan Media publication.) The average computer software buyer isn't likely to worry if the product comes from a liberal or...

Hurricane disaster leads to unprecedented relief effort by Minnesota State Bar.
September 13, 2005... Byline: Barbara L. Jones (This article was originally published in Minnesota Lawyer, Minneapolis, MN, another Dolan Media publication.) With many lawyers and law students among the hundreds of thousands left dislocated by Hurricane...

Twin Cities construction and development drive bank lending.
September 15, 2005... Byline: Mark Anderson At many Twin Cities banks, construction and development customers have contributed mightily to the bottom line in the past year. Construction and development lending at the 25 largest metro-based banks increased...

Minneapolis builders assn. plans panel on navigating approval process.
September 15, 2005... Byline: F & C Staff The Greater Minneapolis chapter of the Building Owners & Managers Association will sponsor a panel discussion that examines the municipal approval process for real estate development. The event has been set for...

Juli Durda joins Bloomington-based Braun Intertec.
September 15, 2005... Byline: F & C Staff Bloomington-based Braun Intertec has hired Juli Durda as its director of human benefits and compensation, training and risk management. Durda has 18 years of human resources experience in a variety of industries...

National Assn. of Industrial and Office Properties completes survey of Twin Cities developers.
September 15, 2005... Byline: F & C Staff The Minnesota chapter of the National Association of Industrial and Office Properties (NAIOP) has completed a survey of Twin Cities developers that explores their relationships with local cities and staffs. NAIOP...

Six staffers join Bloomington-based Landmark Environmental LLC.
September 15, 2005... Byline: F & C Staff Bloomington-based Landmark Environmental LLC has added six staff members and opened a Bemidji office. The firm provides consultation services on properties with environmental problems. The following people have...

Minneapolis-based Central Community Housing Trust breaking ground on St. Paul project.
September 15, 2005... Byline: F & C Staff Minneapolis-based Central Community Housing Trust (CCHT) will break ground on Tuesday, Sept. 27, on its first project in St. Paul. The group is redeveloping the Crane Ordway Warehouse at 281 E. Fifth St. in the...

Minneapolis marketing firm plans to stay put in Foshay Tower.
September 15, 2005... Byline: Bob Geiger The historic Foshay Tower in downtown Minneapolis likely will morph from a failed class B office building into a combination of hotel rooms, condominiums and retail space. But Minneapolis firm Strother Communications...

Associated General Contractors of America push for 'Good Samaritan' bill.
September 15, 2005... Byline: Brian Johnson Construction contractors who help with search recovery, cleanup and other disaster-related efforts would be granted special protections when providing those services under newly introduced federal legislation. The...

SilverCrest waves red flag on senior housing designation in St. Louis Park.
September 15, 2005... Byline: Brian Johnson SilverCrest development wants the record to show that its Park Summit condominium project is not for seniors only. The St. Louis Park-based developer, in response to the slowing senior housing market, is asking...

Wells Fargo extends tie-in with national homebuilders' trade group.
September 15, 2005... Byline: Bob Geiger Wells Fargo & Co. has signed a three-year extension of its promotional relationship with the National Association of Homebuilders (NAHB) that includes advertising in three NAHB publications and corporate sponsorship of...

St. Thomas Univ. in Minneapolis helps lead revival in its corner of downtown.
September 15, 2005... Byline: Bill Clements The Minneapolis campus of the University of St. Thomas occupies a swath of land that serves as the transition between downtown proper and Loring Park. It wasn't meant to be that way - it just happened. "We...

Minneapolis neighborhood helps steer Eitel Hospital redevelopment.
September 15, 2005... Byline: Bill Clements Jonathan Holtzman knew that in planning to redevelop the old Eitel Hospital, it behooved him and his co-developer to make sure the Loring Park neighborhood was happy first. That's because Holtzman, CEO of Village...

Builders face higher material prices after Katrina.
September 15, 2005... Byline: Brian Johnson This week's reopening of the port of New Orleans is good news for the building industry, but contractors are still experiencing hurricane-related fallout in the form of higher lumber and fuel prices and, in some parts...

Nonprofit makes bid to rescue Renaissance Box in downtown St. Paul.
September 15, 2005... Byline: Burl Gilyard Minneapolis-based nonprofit Central Community Housing Trust (CCHT) has a purchase agreement in place for the struggling Renaissance Box building in downtown St. Paul, but it's not clear that the city of St. Paul will...

New breed of hotel checks in downtown Minneapolis.
September 15, 2005... Byline: Burl Gilyard New office buildings aren't likely to be developed in downtown Minneapolis any time soon, but there is strong activity in one commercial property sector - small-scale or boutique hotel projects. Three new projects...

Much-anticipated Woodbury Lakes project opens Friday.
September 15, 2005... Byline: Burl Gilyard Minnesota's second "lifestyle center," Woodbury Lakes, opens amid fanfare tomorrow. But aside from some potential tweaking to regional malls at Southdale and Rosedale, it may be the last lifestyle center for awhile in...

Groundbreaking set for north Minneapolis project.
September 15, 2005... Byline: F & C Staff The Project for Pride in Living (PPL) nonprofit group and Franklin Bank of Minneapolis will sponsor a groundbreaking next week for 14 homes being built in the former Lowell Elementary School in north Minneapolis. ...

Howard R. Green Co. in St. Paul adds design technician.
September 15, 2005... Byline: F & C Staff Jeffrey Messner has joined Howard R. Green Co. as a design technician at the company's water and wastewater group in St. Paul. He has more than seven years of experience designing wastewater treatment facilities and...

Sept. 26 event to focus on transportation funding in Minnesota.
September 15, 2005... Byline: F & C Staff A constitutional amendment that would dedicate all of the state's motor vehicle sales tax to highway and transit projects is the focus of an upcoming event at the Marriott Minneapolis Airport Hotel in Bloomington. ...

Head of Minnesotans for an Energy Efficient Economy discusses cure for oil crisis.
September 16, 2005... Byline: Charley Shaw (This article originally ran in St. Paul Legal Ledger, St. Paul, MN, another Dolan Media publication.) Even before unleaded gasoline reached $3 a gallon at the pump recently, energy was a hot topic at the state...

MN Marketing Briefs: September 17, 2005.
September 17, 2005... Byline: Bob Geiger Now that Northwest Airlines (NWA) has filed for bankruptcy, the Eagan-based carrier needs to showcase leadership and decisiveness in its marketing, according to an industry expert. Terry Trippler, an airline industry...

Dealing with disaster.
September 20, 2005... Byline: Barb Jones (This article first appeared in Minnesota Lawyer, Minneapolis, another Dolan Media publication.)With many law offices in New Orleans destroyed, heavily damaged and/or under water as a result of Hurricane Katrina, lawyers...

Small businesses nationwide may find opportunities rebuilding the Gulf Coast after Katrina.
September 20, 2005... Byline: Adina Genn (This article first ran in the Long Island Business News, Long Island, N.Y., another Dolan Media publication) Small businesses around the nation may find contracting opportunities rebuilding the Gulf Coast in the...

Impact of airline bankruptcies on business travelers yet to be seen.
September 21, 2005... Byline: Kara Kridler This article first ran in the Daily Record, Baltimore, Md., another Dolan Media Publication) Delta Air Lines and Northwest Airlines Corp. may have some difficulty wooing their regular business travelers to stay put,...

Wayzata developers sue city over townhouse project.
September 22, 2005... Byline: Burl Gilyard A pair of developers has sued the city of Wayzata after the city's planning commission rejected proposed plans for an 11-unit townhome development. Partners Bob Ritter and Dennis Burgess own a 38,000-square-foot...

CondoWisdom.com promises buyers the path to true enlightenment.
September 22, 2005... Byline: Bob Geiger Blend a little condominium know-how with Far East religious symbolism and you get CondoWisdom.com. The new fee-based service will offer reports about condo developments, associations and condo inspections when it...

Minneapolis-based Griffin Cos. arranges sublease in Stillwater.
September 22, 2005... Byline: F & C Staff Linda Zelm and John Tramm of Minneapolis-based Griffin Cos. recently represented Timber Lodge Steakhouse in its sublease of 6,990 square feet of space in Stillwater Marketplace at 1820 Market Drive. The Old Saw...

Ollendorf named to Minneapolis Heritage Preservation Commission.
September 22, 2005... Byline: F & C Staff Amy Ollendorf has been appointed to a three-year term on the Minneapolis Heritage Preservation Commission. The commission is a citizens' board that provides advice to the Minneapolis City Council on preserving...

Project manager joins Kraus-Anderson Circle Pines office.
September 22, 2005... Byline: F & C Staff Minneapolis-based Kraus-Anderson Construction Co. has hired Justin Webster as a project manager at the company's Circle Pines office. Webster previously was a project manager at Elder-Jones Inc. of Bloomington,...

MN Construction Assn. plans session on sustainability.
September 22, 2005... Byline: F & C Staff The Minnesota Construction Association will present a half-day seminar on sustainability next Wednesday. The session will run from 7:30 a.m. to 12:15 p.m. at 8000 Norman Center Drive in Bloomington. Five...

Ready to Take Off celebrates MN.-St. Paul Int'l Airport runway opening.
September 22, 2005... Byline: F & C Staff Ready to Take Off, a celebration of the opening of the new fourth runway at the Minneapolis-St. Paul International Airport, has been set for this Saturday. Activities will run from 10 a.m. to 5 p.m., including a 5K...

SmithGroup adds three to staff of Minneapolis office.
September 22, 2005... Byline: F & C Staff The Minneapolis office of SmithGroup, an architectural, engineering, planning and interior design firm, has hired three people. The new workers are interior designer Kim Klingeisen, intern architect Pei-Ling Ko and...

Ramsey County library finds a home in Legacy Village project.
September 22, 2005... Byline: Brian Johnson Gone are the days when a public library was almost exclusively a stand-alone facility. Increasingly, libraries are becoming key parts of larger multi-use developments that also include housing, retail facilities and...

Minnetonka's Glenhaven redo includes new grocery concept.
September 22, 2005... Byline: Mark Anderson Over the last few years, Tom Wartman has been pondering some modest redevelopment ideas for the Glenhaven shopping center that he acquired on Excelsior Boulevard in Minnetonka in 1997. But a decision by the...

Developer's 'sexy bathroom' concept lures admirers.
September 22, 2005... Byline: Bill Clements A bathroom is a bathroom is a bathroom - functional and necessary. Except when the bathroom is a "sexy" bathroom, and then it's rich and sleek and sophisticated: Privy becomes paradise. At least that's the...

Bloomington-based Welsh Co. hires finance director.
September 22, 2005... Byline: F & C Staff Ted Jokerst has been named director of finance at Bloomington-based Welsh Co. Jokerst previously worked at Minneapolis-based U.S. Bank as vice president in the national real estate banking division. In his new...

Maple Grove based-LandCor Inc. sticks to business in Otsego.
September 22, 2005... Byline: Burl Gilyard Where in the world, some may wonder, is Otsego? Rich Woodward doesn't need a map to find the fast-growing northern suburb. Woodward, president of Maple Grove-based LandCor Cos., has been busy in the city, about 33...

MN. Real Estate Briefs: September 22, 2005.
September 22, 2005... Byline: Burl Gilyard Des-Moines based Principal Real Estate Investors announced late Tuesday that it had closed on the purchase of the Campbell Mithun Tower in downtown Minneapolis. Tina Marchetti, spokesperson for the Principal Financial...

Swervo Development Corp. likes the retail action at 50th and France in Minneapolis.
September 22, 2005... Byline: Bob Geiger Future residents of luxury loft condominiums at France Avenue South and West 50th Street won't have to walk far to shop for women's clothing. New York-based Ann Taylor Stores Corp. opened a 6,000-square-foot Ann...

Hurricane Katrina brings prevailing wages to the forefront.
September 22, 2005... Byline: Brian Johnson One of the many construction-related subplots in the story of Hurricane Katrina is the disaster's effect on prevailing wage law. Prevailing wage regulations stem from the 1931 Davis-Bacon Act, which requires...

Minneapolis based-Apogee plans $25 million factory in Southwest.
September 22, 2005... Byline: F & C Staff Apogee Enterprises Inc. of Minneapolis has announced plans to build an architectural glass fabrication plant in the southwestern United States. The company said a site selection process is under way for the $25...

Celebration set for today at Gateway Village in St. Paul.
September 22, 2005... Byline: F & C Staff The official beginning is here for Gateway Village, that huge residential development in the Shepard-Davern neighborhood of St. Paul that looms over Highway 5. At 5 p.m. today, various officials from the city and...