Calhoun Square at Lake Street and Hennepin Avenue in the Southwest community of Minneapolis is in the midst of a renovation project aimed at reviving the shopping and entertainment complex. The redevelopment has taken a long time to get underway, as the property has had three owners since 2005.
BlackRock, a New York-based investment company, bought the center for $47.3 million in 2007 and began work on the renovation last year. So far, it's spent about $20 million on changes that include expanding the parking ramp, adding extensions to the mall along both Lake and Hennepin and rebuilding much of the interior.
Most of the construction should be completed in about a month. When it's finished, Calhoun Square will have over 200,000 square feet of space for shops and restaurants. That's a 45,000-square-foot increase in space!
Several of Calhoun Square's new tennants have already opened. Read more about them in this Southwest Journal article.