Heard on the Street: More retail coming to southeast Rochester?
A new retail center could start construction in southeast Rochester in early 2016, if a national developer's plan works out.
Twin Cities-based Ryan Cos.recently signed an agreement to buy the former Golden Hill School building for $1.8 million from Rochester Public Schools, if everything goes according to plan. The 36,000-square-foot building is located at 2220 Third Ave. SE.
"We're putting together a re-development plan for the site," said Mark Schoening, Ryan's senior vice president of national retail development.
If the numbers all add up, he hopes the purchase will close by late winter or early spring, with construction to follow soon after.
The project is in the very early stages, but Schoening did share "the broad strokes" of what they hope will happen.
"The basic concept that we'll be working on is bringing additional retail to that part of Rochester," he said. "It'll be more than one retailer in the project. I don't how many yet, but certainly more than one."
Schoening added that Ryan Cos. is working with major national retailers, who could anchor the project.
This deal signals a return to Rochester for Ryan Cos. It built the Rochester Marketplacedevelopment at U.S. Highway 52 and 41st Street Northwest in 2000 and 2001 as a new home for Target North, which moved from the nearby Maplewood Square.
Ryan sold one commercial strip in the development for $4 million in February 2003 and then it sold the rest of its property in Rochester Marketplace in September 2003. — Jeff Kiger