Showing posts with label Wellington Management Company. Show all posts
Showing posts with label Wellington Management Company. Show all posts

Thursday, January 31, 2019

Updated Aldi opens

by Tesha M. Christensen
Tesha M. Christensen
Despite opening a second Aldi in the neighborhood along Lake St., the company does not plan to close the Aldi a few blocks away at the Hi-Lake Shopping Center, according to the owner of both buildings.
The former Rainbow Foods at 2912 28th Ave. S. has been transformed into a brand new Aldi with wider aisles, more refrigerated items and a wider selection of fresh foods.
“We are thrilled,” stated site developer David Wellington of Wellington Management, Inc. “Aldi is a world class grocer that is unparalleled in delivering high-quality food at a premier value. Their new, bigger store looks great in the space, and we think this updated format and layout is going to be great for the retail center and the neighborhood.”
According to Wellington, Aldi plans to continue operating the store nearby at the Hi-Lake Shopping Center in another building managed by Wellington. “We know of no plans to close it,” he said. 
Aldi is in the process of revamping its stores, but was not able to redo the store at 2100 E. Lake St. because “the building footprint, access, and layout were not conducive to the significant modification that was required,” stated Wellington.
Aldi is part of a second phase for redeveloping the site. There is additional retail space for lease next to the grocery store.
The first phase was the 19,600-square-foot, second-story addition built on the back side of the building for the K-8 Universal Academy Charter School.
The third phase will include 110 units of affordable housing for seniors and 15,000 square feet of retail space on the ground level. The construction of this mixed-use building on the northwest corner of the parking lot is behind schedule as Wellington Management works to put the financial pieces together to make it affordable. 
The Rainbow site, Cub land and Target property together represent the second largest piece of continuous asphalt in the city of Minneapolis, pointed out Wellington. They have worked to align their project with the the city’s plans for greater density in the area due to the nearby lightrail line.
“We appreciate the neighborhold’s collective patience as we’ve worked through the challenging redevelopment,” stated Wellington. “We are excited about the next few years for the site and think the future is bright for the area.”

Article printed in the February 2019 edition of The Alley newspaper.

Thursday, November 1, 2018

Aldi will open in former Rainbow Foods site later this year

Charter school building complete; focus shifts to grocery store and retail as part two of redevelopment phase

By TESHA M. CHRISTENSEN
Aldi will open in the former Rainbow Foods space at 2912 28th Ave. S. in November or December.
The grocery store is part of a second phase for redeveloping the site.
During the first phase of Minnehaha Commons, Universal Academy Charter School used a section of the former grocery store during the 2017-18 school year while a 19,600-square-foot second-story addition for classroom space was built on the back side of the building. To accommodate the addition, a single-family home on the property was torn down. The addition was completed over the summer and Universal Academy moved into the new addition at the start of the 2018-19 school year.
Wellington has now shifted focus to the front of the building near the parking lot.
“We are excited to renovate a tired building and bring new life and energy to this block,” stated Wellington Management Director of Acquisitions and Development David Wellington. “After sitting vacant for several years, the project will once again be an amenity to the neighborhood by bringing jobs, a successful school, and neighborhood-serving retail to the Longfellow community.”
Renovation underway
Built in 1984, Rainbow Foods closed in 2014 after the store was purchased by Jerry’s Enterprises as part of a 27-store deal that reshaped the Twin Cities grocery scene. The building and 6-acre lot were purchased by Wellington Management Company two years later for $5.35 million, according to Hennepin County records. This is Wellington’s first foray into developing property on the east side of Hiawatha. The Minnehaha Commons project continues the efforts of Wellington that began more than a decade ago with projects such as Hi-Lake Shopping Center, the Greenway Office Building, Corridor Flats, Lake Street Station, and the Blue Line Flats.
Photo left: Work is now underway renovating the west side of the former Rainbow Foods building for Aldi and the adjacent retail. The entire west facade will be replaced. Various pedestrian improvements will be made adjacent to the new retail entrances including new sidewalks, a raised pedestrian crossing connecting Aldi to the parking lot, plantings and bike racks. (Photo by Tesha M. Christensen)
The total project cost, including acquisition, phase one (Universal Academy expansion) and phase two (Aldi/retail renovation) is approximately $18 million. This does not include additional tenant improvements being made by Aldi and future retail tenants.
Wellington does not own Schooner Tavern, just north of the Rainbow building at 2901 27th Ave. S. and it is not part of this project.
Work is now underway renovating the west side of the Rainbow building for Aldi and the adjacent retail. The entire west facade will be replaced. Various pedestrian improvements will be made adjacent to the new retail entrances including new sidewalks, a raised pedestrian crossing connecting Aldi to the parking lot, plantings and bike racks.
Taken together, the Rainbow site, Cub land, and Target property represent the second largest piece of continuous asphalt in the city of Minneapolis, pointed out Wellington. The city’s plans for the area call for greater density due to the light rail line, which Wellington Management has focused on providing as it redevelops the area.
Phase 3: affordable housing
Stage three includes the construction of a mixed-use building on the northwest corner of the parking lot. It will have 90 units of affordable housing for seniors, and 15,000 square feet of retail space on the ground level. This portion of the project is behind schedule as Wellington Management works to put the financial pieces together to make it affordable.
“We are working diligently to secure public financing sources needed to build the affordable housing project,” said Wellington. “We are hopeful that Phase 3 construction can begin in late 2019, but it’s more likely to start in early 2020.”
Photo right: Universal Academy Charter School moved into a 19,600-square-foot second-story addition built on the back side of the building in time for classes to begin for the 2018-19 school year. (Photo submitted)
Wellington Management tried to purchase the Auto Zone property at the corner of E. Lake and Minnehaha, but the property owners were not interested in selling. So they signed a long-term agreement with Wendy’s to remain there for 20 years, and the building was given a facelift.
Wellington also plans to construct a single-story 3,500-square-foot retail building in the existing parking lot area not being used by Wendy’s along Minnehaha.
Will Aldi close existing store?
Aldi has not confirmed whether it will move out of the existing store at 2100 E. Lake St. or whether it will keep it open, according to Wellington.
With more than 1,800 stores across the country, Aldi is in the midst of an accelerated growth plan, investing more than $5 billion to remodel and expand its store count to 2,500 by the end of 2022. Aldi is more than halfway through its remodel investment. The new Aldi store layout features additional refrigeration space to accommodate more fresh, healthy and convenient products.
“The continued success of our store expansion and remodel initiatives has given us the opportunity to carefully select and introduce new products that satisfy our customers’ increasing preferences for fresh items, including organic meats, salad bowls, sliced fruits, and gourmet cheeses,” said Jason Hart, CEO of Aldi U.S. “We know people lead busy lives, so we’re making it even easier for them to purchase everything on their shopping list at Aldi, while still saving money.”
As part of the expansion, Aldi is increasing its fresh food selection by 40 percent with new items, including:
• More ready-to-cook and organic fresh meats to make meal preparation more convenient, including organic chicken breasts and marinated cilantro lime chicken breasts.
• Expanded produce selection, including veggie noodles and ready-to-eat sliced fruits, such as mango, pineapple, and watermelon spears, and more organics.
• Expanding its Earth Grown line with new vegan and vegetarian options, such as kale and quinoa crunch burgers, and chickenless patties and tenders.
More than 40 million customers each month use the simple, streamlined approach Aldi brings to retailing. Aldi sells frequently purchased grocery and household items, primarily under its exclusive brands.

Monday, November 27, 2017

School opens in former Rainbow; senior housing, grocery store coming

Wellington Management expands reach from west side of Hiawatha to east with 6-acre Minnehaha Crossing project

By TESHA M. CHRISTENSEN
The former Rainbow Foods, 2912 28th Ave. S., is being reincarnated as a mixed-use building anchored by a school.
The Universal Academy Charter School (UACS) moved into the building in time for the start of the 2017-2018 school year. The K-8 school is located in temporary classrooms at the front of the building as landlord Wellington Management Company oversees a 19,600-square-foot second-story addition for classroom space on the back side of the building. To accommodate the addition, a single-family home on the property was torn down.
When it is complete, the school will have 31 classrooms and 55,000 square feet, with an entrance on the east side of 29th Ave.
“Our team is excited to redefine the backside of a big box retail center with a light-filled school where students will learn, play and grow,” said Wellington Management Director of Acquisitions and Development David Wellington.
Photo right: The former Rainbow Foods site has been mostly vacant since the grocery store closed in 2014. It had been purchased by Jerry’s Enterprises as part of a 27-store deal that reshaped the Twin Cities grocery scene. The building and 6-acre lot were purchased by Wellington two years later for $5.35 million, according to Hennepin County records. Universal Academy Charter School moved into temporary classrooms in time to start the 2017-18 school year. (Photo by Tesha M. Christensen)
Built in 1984, Rainbow Foods closed in 2014 after it was purchased by Jerry’s Enterprises as part of a 27-store deal that reshaped the Twin Cities grocery scene. The building and 6-acre lot were purchased by Wellington two years later for $5.35 million, according to Hennepin County records.
Universal Academy served 288 students at its St. Paul location in the Midway neighborhood last year. This year, the school added another kindergarten class for a total enrollment target of 338 students.
Photo left: “Our team is excited to redefine the backside of a big box retail center with a light-filled school where students will learn, play and grow,” said Wellington Management Director of Acquisitions and Development David Wellington. (Illustration courtesy of Wellington Management)
Formed in 2014, UACS was originally slated to be located in Minneapolis, but ended up in St. Paul, according to Principal and Director Ms. Farhiya Einte. Most of the students live in Minneapolis.
Ninety-eight percent of students at the charter school are English language learners, according to Minnesota’s Report Card on the school. Its authorizer is Novation Education Opportunities.
‘Golden opportunity’ for Wellington
The Minnehaha Crossing project continues the efforts of Wellington that began more than a decade ago with projects such as Hi-Lake Shopping Center, the Greenway Office Building, Corridor Flats, Lake Street Station, and the Blue Line Flats.
Photo left: The three-prong Minnehaha Crossing project at the six-acre property along Minnehaha Ave. includes a two-story addition on the west side for a school, the renovation of the east side of the empty Rainbow building for a grocery store, and the construction of a 90-unit senior affordable housing building. (Illustration courtesy of Wellington Management)
The largest landowner and developer in the Hi-Lake market, Wellington Management’s work in the area began with the purchase of the Hi-Lake Shopping Center in 2004, recalled Wellington, whose father considered it a “golden opportunity.”
He added, “It was a good fit for our company. We saw a lot of potential for development.” It was a strategic decision to become invested in the area. Since “we’ve really enjoyed our work in the neighborhood,” said Wellington, age 35, who plans to work at the company another 30-40 years and continue the civic-minded approach his father has taken.
Photo right: A 19,600-square-foot second-story addition is currently under construction on the back side of the former Rainbow Foods building. When it is complete, Universal Academy Charter School will have 31 classrooms and 55,000 square feet, with an entrance on the east side off 29th Ave. (Photo by Tesha M. Christensen)
Through the years, the family-run company has doubled the density at the original site, first by building Corridor Flats, which houses Aldi’s and 36 market-rate condos. Then they erected the Lake Street Station building next to the light rail line in 2015, which provides 64 units of senior affordable housing. Rates are federally regulated and set at 60% of the area median income, or roughly $900-$1,200 a month.
Last year, Wellington built Blue Line Flats in the Corcoran triangle off 32nd St., offering 135 units of workforce housing at 30%, 50%, and 60% of the area median income.
The Minnehaha Crossing project marks the first time the Wellington Group has embarked on a project to the west of Hiawatha.
“We’re just trying to be your friendly neighborhood developer,” said Wellington.
Grocery store coming
Taken together, the Rainbow site, Cub land, and Target property represent the second largest piece of continuous asphalt in the city of Minneapolis, pointed out Wellington. The city’s plans for the area call for greater density due to the light rail line, which Wellington Management has focused on providing as it redevelops the area.
The addition for Universal Academy is phase one of a three-prong project.
In the second stage of the Minnehaha Crossing project, the existing retail that currently fronts the parking lot along Minnehaha Ave. will be repositioned. This will include approximately 12,000 square feet of small shop retail, as well as a 22,000-square-foot grocery store. Work on this will begin after the school moves into the finished addition, likely in the summer of 2018.
They have been in discussions with Aldi, which has tossed around the idea of a new concept store focusing on high-quality meat and fresh fruits and vegetables at the site, remarked Wellington, but nothing has been finalized yet, and they continue to market the site to a variety of grocery stores.
Wellington does not own Schooner Tavern, just north of the Rainbow building at 2901 27th Ave. S. and it is not part of this project.
Affordable senior housing in the project mix
Stage three includes the construction of a mixed-use building on the northwest corner of the parking lot. It will have 90 units of affordable housing for seniors, and 15,000 square feet of retail space on the ground level. This portion of the project is behind schedule as Wellington Management works to put the financial pieces together to make it affordable.
“It takes a village to get an affordable housing project off the ground,” observed Wellington, but the company believes it is an important piece of the total development, particularly in light of the broader discussion on affordable housing in the city.
Wellington envisions that seniors who currently live in Seward and Longfellow will move into this building and stay in their neighborhood, shopping at the places they’ve always shopped at.
While Wellington Management tried to purchase the Auto Zone property at the corner of E. Lake and Minnehaha, the property owners were not interested in selling. So they signed a long-term agreement with Wendy’s to remain there for 20 years, and have plans to construct a single-story 3,500-square-foot retail building in the existing parking lot area not being used by Wendy’s along Minnehaha.
While two new buildings will use up some of the parking currently available at the site, Wellington believes there will still be enough parking there. He pointed out that parking, as well as the perception of adequate parking, is important to their retail tenants, and one of their primary concerns.

This article appeared in the December 2017 edition of the Longfellow/Nokomis Messenger.