The Red Wing Port Authority has submitted a redevelopment grant request to the Minnesota Department of Employment and Economic Development (DEED) to support redevelopment of the former Fleischmann Malting Site, 110 Broad Street.
Kyle Klatt, Community Development Director, says RW6 Investments currently has the site under contract and is proposing to construct a 120-unit multi-family mixed-use structure in the site with up to 240 structured parking stalls and 12,000 square feet of commercial space.
The grant request is for $750,000 to assist with the demolition of the present building and other site preparation costs. Klatt says the grant will assist in demolition and getting the site ready.
The overall project costs are expected to be around $33 million, and staff is currently working with the developer to understand the potential public assistance available to support the project (such as TIF).
If the project moves forward, the Port will be involved in discussions concerning any such assistance.
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