Memo - Former BP SitesPlanning & Economic
Development
MEMORANDUM
TO: Honorable Mayor and Hopkins City Council Members
i
FROM: Kersten Elverum, ct of Planning & Development
DATE: November 17, 2011
SUBJECT: Former BP site
A discussion of a possible redevelopment of SE corner of Blake Road and Hwy 7 has been
scheduled for the November 22, 2011, City Council work session. The purpose is to outline a
proposal by Solomon Real Estate Group, Inc.,for the redevelopment of three parcels, including
the former BP gas station on Blake Road. Solomon Real Estate Group was founded in 2004 and
has offices in Minnetonka and Naples, Florida. They develop and own retail, multi -family and
mixed-use properties and have a property portfolio in excess of 5 million square feet.
They are proposing to assemble three properties, including:
■ BP Gas Station Property
■ Cambridge Towers Remnant Property
■ MnDOT Property
They would design and construct two 6,000 SF retail buildings, with construction beginning late
Summer 2012, at the earliest. In order to move to the next step, the developer is asking that the
City of Hopkins support and initiate a request for acquisition of the MnDOT property. This
would be a fairly complex project in that it would also require the developer to close on the
mortgage/note from the lender, GE Capital, and then successfully foreclose on the current owner
of the BP property. They would also need to negotiate a land -swap with Woody Ginkel and
complete the MnDOT transfer. Land use approvals would require the control of the properties or
consent of all three owners.
Attached is an aerial view of the property and a draft site plan. Representatives of Solomon will
be at the work session to present their concept.
Hennepin County Property Map Print
Page 1 of 1
Hennepin County Property Map - Tax Year: 2011
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