Wall Cos. is putting the final touches on a major redevelopment plan in Minneapolis’ Prospect Park neighborhood called Malcolm Yards, which would include office, retail, housing and perhaps most strikingly, an indoor climbing facility.
John Wall, president of the Minneapolis-based development company, declined to put a dollar figure on the project, but said it was going to be a considerable investment.
“It’s going to be big — very, very huge,” Wall said Thursday.
The land in question is a 20-acre tract bounded by the University of Minnesota Transitway to the south, railroad tracks on the north, Malcolm Avenue Southeast on the east and 29th Avenue Southeast on the west, he said. The site, which includes defunct grain elevators, is about a half-mile from the Prospect Park Station on the Green Line light rail route.
The new development has been a long time coming. For several years, Wall Cos. hoped to build a science-oriented business incubator on the site, which it called the Minnesota Innovation Park. The land is close to the University of Minnesota, and Wall thought its proximity would allow businesses in the innovation park easy access to researchers there. The pitch fell on deaf ears, however.