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Demolition of the 450,000-square-foot former Prudential Financial Inc. building in Plymouth is expected to begin by next month as part of a $300 million plan to redevelop the 75-acre site.
This major step comes after the co-developers, Indianapolis-based Scannell Properties and Plymouth-based Roers Cos., received necessary approvals from the Plymouth City Council last month to move forward on the project. Renderings now also reveal the planned look of the site.
Demolition of the interior of the building is already underway. The city’s Planning Commission recommended approval of the project’s preliminary plat and general site uses in February.
It's "fun to be on the doorstep" of major changes at the site, said Dan Salzer, director of development for Scannell.
After the demolition of the shell, the development team will start next on road and infrastructure work as well as constructing a new 80,000-square-foot Summit Orthopedics facility, the first major deal announced for the Prudential site. That facility will offer an ambulatory surgery center, clinic space and more.
The development team plans to break ground on one of the multifamily buildings toward the end of this year, and some of the retail buildings in 2025, Salzer said. The goal is to have the site substantially developed within the next 4 to 5 years.
The site is the former corporate campus of Prudential, which left the site for downtown Minneapolis’ The Dayton’s Project. Scannell and Roers purchased the site, at 13001 County Road 10, from Prudential in 2022 for $20 million.
The developers have worked with the city to envision the site’s future. That included several meetings, including one where City Council members pointed to Edina’s 100-acre mixed-use site Centennial Lakes for inspiration.
The City Council approved a comprehensive plan amendment for the site last year.
The general plans include:
- The Summit Orthopedics building
- Two medical-technical buildings spanning around 67,000 square feet, with a potential mezzanine level on the southwest portion of the site
- An approximately 65,000-square-foot grocery store or supermarket in the northwest area
- A 2,250-square-foot retail or coffeeshop with drive-thru
- Six retail buildings totaling about 26,500 square feet, two of which would have a drive-thru or drive-up service
- Four apartment buildings with about 925 units
- A 13.28-acre public park with trails in the central portion of the site, encompassing an existing pond
- Two retail-restaurant buildings spanning each about 8,000 square feet
Metro square feet broken ground on, 2021-2023
| Rank | Prior Rank | Name / Rank in 2023 (* not ranked) |
|---|---|---|
1 | 3 | Ryan Cos. US Inc. |
2 | 2 | Roers Cos. |
3 | 1 | Scannell Properties |