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Roof Depot site still in limbo years later
The East Phillips Neighborhood Institute hopes to redevelop south Minneapolis' vacant Roof Depot warehouse into an urban farm with retail and residential space. However, the group has failed to raise funding that would secure its future.
MINNEAPOLIS (FOX 9) - After years of back-and-forth proposals without an agreement, Minneapolis officials say they have reached a tentative deal with the East Phillips Neighborhood Institute (EPNI) to purchase the former Roof Depot site.
Roof Depot purchase agreement
What we know:
Tentative details of the deal say that the property will be split, with a northern half being retained for city municipal use and a southern portion of the site’s parking used this summer for raised bed farming and education classes, under a short-term use lease to EPNI.
Under the agreement, EPNI will then purchase the southern portion for $6.12 million, with $2 million of the funding coming from already awarded state grants and $4 million from state bonding.
For the purchase, EPNI will need to pay the remaining $120,000 from "cash, mortgage or other immediately available funds."
According to the announcement, a full purchase agreement will be finalized and brought to the Minneapolis City Council for approval in the coming months.
The backstory:
In September, Minneapolis Director of the Department of Community Planning and Economic Development (CPED) Erik Hansen provided an update saying it had rejected an EPNI counteroffer of $10.2 million for the vacant site — a $1.2 million decrease from the $11.4 million originally agreed upon.
At the time, funding sources for the purchase remained in doubt, Hansen said.
EPNI initially hoped to use three funding sources in the purchase: A $2 million grant from the state of Minnesota, a potential $5.7 million pledge from the Minnesota Legislature and $3.7 million of its own funds.
Two years later, the gift from the Minnesota Legislature hadn't happened, and EPNI was no closer to closing the funding gap, Hansen said.
At the time, the city said EPNI was still either $5.7 million short (of the original agreement) or $4.5 million short (of the rejected counteroffer).
Dating back several years now, EPNI has proposed turning the 230,000-square-foot site into an urban farm and community space.
In June 2023, FOX 9's Tom Lyden toured the Sears-Roebuck warehouse that was built in 1949, and has been vacant a decade-plus.
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Look inside Roof Depot shows bones are strong
Despite the $6.5 million authorized by the legislature to begin the process of turning the vacant Roof Depot warehouse in South Minneapolis into an urban farm with retail and residential space, few people have seen inside the 230,000-square-foot structure in the last decade.
What they're saying:
"This agreement occurred because we stayed at the table and hashed out the details to achieve the respective goals of both EPNI and the City," Minneapolis Mayor Jacob Frey said in a statement announcing the agreement. "It’s been a long time, and I’m grateful to our city staff and community members who have worked hard to find common ground."
What's next:
With future funding uncertain, EPNI’s plans to annually maintain the financial necessities of the property remain unclear.
FOX 9 has reached out to both Minneapolis officials and EPNI representatives for comment.
The Source: Information provided by previous FOX 9 reporting and City of Minneapolis updates.