UNIVERSITY OF MINNESOTA JOINS FORCES WITH CBRE FOR "THE MIX"

The University of Minnesota’s eastern campus is slated for a new redevelopment project, the Minnesota Innovation Exchange, or “The MIX.”

The 12-acre project, a collaboration between the University of Minnesota Foundation Real Estate Advisors (UMFREA), M.A. Mortenson Co., and HGA as the design partner, will be constructed in three phases over approximately 15-20 years. CBRE Group Inc., led by Mike Bowen and Jerry Driessen, has recently joined as the leasing partner to secure tenants for the first phase which is anticipated to begin construction in late 2025/early 2026.

Overview of The MIX’s Phased Development Plan

The MIX will be developed in three phases with each phase anticipated to take five years at minimum, allowing flexibility and adaptation to evolving needs. The project aims to deliver around 3 million square feet of mixed-use space, including housing, retail, hospitality, entertainment, and facilities for research and innovation.

Phase 1 (2024-2029): Block 1

The first phase, Block 1, is located within Huron Boulevard to the east, University Avenue SE to the north, Ontario Street to the west, and Washington Avenue to the south. Initial plans for Block 1 include two buildings focused on life sciences, technology, and innovation spaces. Potential additional elements, such as a vertical tower with residential or hospitality uses, are under consideration depending on market demand.

Phase 2 (2030-2035): Block 2

The second phase, Block 2, will extend west of Block 1, bounded by University Avenue on the north, Oak Street on the west, Washington Avenue on the south, and Ontario Street on the east. This phase will extend public spaces and incorporate additional mixed-use spaces to further connect with the surrounding area.

Phase 3 (2035-2040): Block 3

The final phase, Block 3, is expected to cover the area between Washington Avenue to the north, Ontario Street to the west, Delaware Street to the south, and Huron Boulevard to the east. This phase is intended to allow for adjustments based on insights from earlier phases and evolving market needs.

Timeline and Next Steps

Previously known as East Gateway, The MIX is expected to serve both the University of Minnesota and the surrounding community. The Minneapolis-St. Paul area is home to a significant number of health and science companies, which the project developers believe aligns with The MIX’s planned focus areas.

CBRE will lead leasing efforts for the initial phase, focusing on technology and life sciences tenants. Bowen and Driessen are expected to engage companies whose needs align with the project’s focus on research and innovation.

The first phase of construction is anticipated to begin within the next 12 to 18 months, with an anticipated completion by 2029. Updates on The MIX milestones and leasing developments are expected as each phase advances and will be featured on The Development Tracker's website and social media channels.