What’s developing in Bloomington
There is a lot of development happening in the city. In fact, more than a half a billion dollars in investment is in the pipeline between multifamily residential and hotel projects.
“In my 23 years with the City, we’ve never had this volume of development,” Planning Manager Glen Markegard said. “Proposed development will address needs for senior and work force housing, provide employment opportunities and expand Bloomington’s tax base.”
McGough broke ground on The Fenley in South Loop, a new 402-unit, multifamily complex near Bloomington Central Station, last winter. Ten percent of the units will be affordable. It is the first new development using the federal Opportunity Zone legislation—a tax program that encourages the investment of unrealized capital gains to spur economic development in census tracts that have low median family income.
Sick Sensor Intelligence, a German company that designs, builds and sells intelligent sensors and related products, is working with the City to expand and keep its North American headquarters in Bloomington. Sick plans to add up to 1,200 jobs and move to a site in South Loop from a smaller site in southwest Bloomington.
Five senior housing projects are moving forward, including Portland Commons at 88th and Portland with 166-units; Opus Senior Living Development with 186 units near I-494 and West 78th; and Cherrywood Pointe with 108 units west of Normandale, Phases II - IW of Founder’s Ridge on Auto Club Road with 111 units, and the latest expansion of Friendship Village on Highwood Drive with 93 units and a health center.
In all, nearly 1,700 residential units are in the pipeline, including The Fenley. Construction will begin this spring on 108 Place just south of the France and Old Shakopee Road intersection, with three stories and 42 workforce affordable units. Work will start on Penn Place Apartments at 100th and Penn with 43 affordable units in 2020.
There are also 1,032 new hotel rooms coming to Bloomington with the construction of six hotels currently in progress: Hyatt House, Holiday Inn Express, Tru/Home2 Suites, Element by Westin, Drury Inn and Cambria Suites.