Re+4RM at US Bank
CategoryCommercial Real Estate, Community Planning,
The goal of this project is to Create generational wealth for BIPOC small business owners by equitable redevelopment of a site that was damage in the civil unrest due to the murder of George Floyd by Minneapolis police.
After the damage, US Bank decided not to reopen the branch. Redesign worked to convince US Bank to donate the building to a community organization, and then applied and was selected to be the recipient of this donation in the subsequent RFP.
Redesign has entered a partnership with 4RM+ULA Architects to serve as master developer called Re+4RM, and is working with multiple community organizations and potential parties to acquire and develop projects at the larger site. 4RM+ULA brings extensive engagement experience and is developing a process to help the community heal through positive changes to the built environment. By centering BIPOC voices in the engagement process and the design, and centering BIPOC wealth building, control and ownership in the legal and financial structures for the vertical development, this project will be a powerful example of how Minnesota is working toward real, impactful and broadly beneficial positive change.
The project aims to not just add significant density to the corridor, but also raise environmental standards, the public facing process, high quality design, public realm amenities, and intentionality of BIPOC voices, power and benefit throughout the process. Re+4RM is exploring shared systems including an Aquifer Thermal district energy system that this site and nearby sites could utilize, as well as common parking facilities. Ultimately, we will subdivide the site into 3-4 parcels plus the central healing commons and sell those parcels to BIPOC owned and operated companies to develop their spaces.