MANKATO, Minn. (KEYC) — The City of Mankato has received a grant of nearly $50,000 from the Minnesota Department of Employment and Economic Development in investigation funding for a five-acre site next to the Riverfront Cub Foods.
The area is in the middle of a redevelopment, but because this site was historically used as a vehicle repair and maintenance facility, this site must be inspected further for contaminants. The site is being redeveloped into a 108-unit, mixed-income apartment building that city officials claim will spur development in the area in the future.
“It’s about five acres in a prominent area that you can see driving down Riverfront Drive or Stoltzman [Road]‚” explained Economic Development Specialist Courtney Kramlinger. “We anticipate the development of that site is going to spur additional investment in that area as we’ve seen in more of the City Center or core of Mankato. It’s spurred other investments, and we kind of anticipate that to kind of start trickling down that way on Sibley Parkway.”
The project is anticipated to create new jobs and increase the tax base by over $165,000.