Coliseum Building Updates
From TruArtSpeaks
Hey— did we mention that we are working with three of our favorite Twin Cities poets on the Coliseum Project in South Minneapolis, along with ReDesign Inc, FivexFive, and a host of incredible visual artists to reimagine the exterior of the space with fresh new designs that include new and original works by these poets, Marcie Rendon, See More Perspective and Aisha Camara? No, we didn’t? Our bad— stay tuned! We are so excited!!!
The Coliseum, a community commercial center since 1917, was almost destroyed following the civil unrest after the murder of George Floyd. In order to restore this historic 80,000 square-foot building, Redesign, a non-profit community development corporation, has closed on the acquisition of the space, located at 2708 East Lake Street. Preserving and redeveloping the Coliseum building has been identified as a high priority by neighborhood residents, community leaders, and partners.
This completed acquisition will allow Redesign to restore the building, which would have otherwise been demolished by its previous owners. The non-profit organization has partnered with a number of Black-owned businesses to own and operate the building once restored. Among these Black entrepreneurs are Alicia Belton of Urban Design Perspectives, Janice Downing of CommonSense Consulting@Work, and Chris Montana of Du Nord Crafts & Spirits. Once the building is remodeled, it will be a space for local and BIPOC entrepreneurs to establish and grow their small businesses. It will also provide an opportunity for the community to feel inspired and hopeful after the destruction last year. The redevelopment plan also includes temporary window art pieces by local artisans, which will redress the building and provide hope and encouragement that a new BIPOC led era of the Coliseum building is coming.
To make the acquisition possible, Redesign and its partners are working to secure financing from multiple sources, including We Love Lake Street Grants, New Market Tax Credits, Historic Tax Credits, Tax Increment Finance, the City Commercial Property Development Fund, PACE equity, and Xcel Energy Rebates.
Another important source of funding was the Local Initiatives Support Corporation (LISC) Twin Cities, through the Community Asset Transition (CAT) funds, which will provide up to $30 million for transformational community ownership and wealth building in Minneapolis. LISC Twin Cities created the CAT Fund in partnership with Hennepin County, JPMorgan Chase, the Minneapolis Foundation, the Bush Foundation, and the McKnight Foundation to help finance acquisitions of critical properties, like the Coliseum, to support community-sought transformational solutions such as community ownership and wealth building.
The Coliseum acquisition sets the stage for its restoration into a space that will welcome and support BIPOC small business owners and community members with many opportunities for business and property ownership.
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Update 11/2021
The Coliseum building project is well underway. The plan is for the renovations to be done by the Autumn of 2023 and the building to be open shortly after.
As has been previously reported, there are three tenants currently signed on to the project—Alicia Belton of Urban Design Perspectives, Janice Downing of CommonSense Consulting@Work, and Chris Montana of Du Nord Crafts & Spirits. If you or someone you know is interested in leasing space at the Coliseum, there is a waitlist that has been started and more information will be sent as the project progresses. While tours of the building could start as early as Summer 2022, active leasing of space won’t happen until late 2023.
Members of the general public are encouraged to continue contacting your elected representatives about the importance of financing for projects like this one—projects that help rebuild the corridor, that center BIPOC voices, and to let them know that you’re excited the Coliseum is coming back.
In the meantime, while the project progresses, be on the lookout for some commissioned art from local BIPOC artists at the Coliseum. After the events of last summer, the art is meant to share positive healing messages of rebuilding in a more equitable way.
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We’d love to hear your memories and stories from people you met, experiences you had or witnessed at the Coliseum building in any of its forms or phases. Please submit to info@reachtwincities.org so we can post them!