Lyndale Gardens developer, The Cornerstone Group, announced its first official tenant Tuesday night.
"We've been working with this grocer for almost a year and a half and its really satisfying for us to be able formally announce it," Carey told Richfield Patch Tuesday. "We think [Lakewinds is] a great fit for the vision we have for the site. ... That's why we stuck with it so long."
A purchase agreement was finalized last week and the announcement was made at a Richfield City Council special worksession at 5:45 p.m. Tuesday.
Yes. A purchase agreement. Not a lease agreement.
Carey said Lakewinds Natural Foods has agreed to purchase the Lyndale Garden Center building, along with some additional land, and plans to demolish the building and start fresh.
As many will recall, since the beginning of the redevelopment talks, The Cornerstone Group planned to keep and rehab the building. Needless to say, the agreement with the grocer changes those site plans quite a bit.
Carey said a second building would be built, which would back up against the grocery store. Talks with other tenants—a hardware store, a restaurant and other interested parties—are still happening, but nothing has been finalized.
"We just couldn't move forward until we knew what was happening with the grocer," Carey told Patch. "Right now we believe [the second building] would have approximately 8,500 square feet."
That 8,500 square feet could mean a couple large tenants—like the hardware store or restaurant—or a mix of large and small tenants, such as a coffee shop, offices, an ice cream parlor and so on. Other plans for the site, such as an outdoor ampitheater and market area, have not changed.
At the time of this article, the Richfield City Council, HRA and The Cornerstone Group were still in the special worksession discussing the details.
"If the city council doesn't like [the idea of demolishing the building] Lakewinds said they were still interested," Carey said. "It would just be their preference to start over with a new building."
Lakewinds General Manager Dale Woodbeck was also present Tuesday night. Carey said the co-op employees were made aware of the new store earlier in the day. Other locations are in Minnetonka and Chanhassen. *A PDF of the new design plans have been attached to this article.
Richfield Patch will update readers as more information becomes available.
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- Lyndale Gardens Developer to Announce First Tenant