$500M Pentagon Park plan, price tag worries Edina neighbors - FOX 26 News | MyFoxHouston

$500M Pentagon Park plan, price tag worries Edina neighbors

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EDINA, Minn. (KMSP) -

Developers are willing to invest some big money to recreate a corner of Edina, but the $500-million price tag has many current residents worrying that their community might change too much.

To give a sense of scope, the new Vikings stadium is a billion-dollar project, and the Mall of America is spending $325 million on a new expansion -- including a hotel. Now, neighbors wonder how $500 million will affect their local landscape.

Patty Stang lives just north of the Pentagon Park redevelopment project. Her immediate backyard is the Fred Richards Golf Course, with the office park just beyond that. With the course set to close at the end of the year, Stang now wonders what's next.

"That would be a big concern for us here with the noise and the light, and it could really start to creep into our single-family homes," she said.

Even while residents fret over what the future may look like, it seems city leaders are all for what some are calling a legacy, once-in-a-lifetime project for the 42 acres near the Southdale Mall. 

"It's been a long journey, and tonight, we commit to proceed forward together," Scott Takenhoff said at the Edina City Council meeting on Tuesday night.

Currently, many of the buildings in the old office park along West 77th are blighted, vacant and unkempt -- but the new owners have big, expensive plans for a facelift. Once complete, the space is expected to feature a hotel, more than a million square feet of new office spaces, small shops, restaurants, bike paths and green space.

"It's a huge investment -- huge," Bill Neuendorf, Edina's economic development director, told Fox 9 News. "You don't often stumble on 40 acres of land you can redevelop."

Developers outlined their ambitions before the Edina City Council on Tuesday, beginning with the demolition of a building at the intersection of Highway 100 and 494 to make room for a 12-story hotel. From there on, it will be a 10- to 15-year effort to see it complete.

The developers are taking nearly all of the risks upon themselves in this endeavor as well, and city leaders insist that taxpayers will be protected throughout the process.

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