BAE Technology Center

Project Location: 4800 East River Road, Fridley, MN 55418
Nominated by: Fridley Land LLC

The BAE Technology Center was once the highest scored Superfund site in the United States. Development of the project involved the creative re-use of 561,000 square foot of a historic 2 million square foot existing building, while facing multiple regulatory authorities at the federal, state and local level to de-list and redevelop. Innovative remediation and attractive design overcame negative perception of re­ use of existing structure to retain 500+ high quality engineering jobs on site and in Minnesota . BAE occupied and operated out of remaining space throughout the entire remediation/renovation process so contractors had to exercise extreme care to maintain utility connections and site safety.

The most challenging aspects of the project included negotiating a mutually beneficial new lease with BAE, who had a unilateral right to renew on 1.5 million square feet within the existing building which would have stalled redevelopment of the rest of the 122-acre Northern Stacks site for at least 5 years, coordinating the demolition of 1.5 million SF of historic building, remediation of the 41-acre site, and the construction and instillation of new exterior elements and utilities all while Tenant’s 500+ employees continued to work on sensitive projects within the remaining space.

The project will contribute $15,766,000 in new property tax, $595,000 in new property tax revenue, and add 560 quality engineering jobs retained in state for at least another 10 years. Already, 40 jobs have been added to date (plans for additional hiring and expansion of operations in near future).

Project Financing

  • Private capital/equity
  • Construction loan
  • MN DEED Contamination Cleanup
  • Metropolitan Council
  • Tax Increment Financing

Project Partners

  • Hyde Development and Mortenson Co (joint venture)
  • BAE Systems Inc
  • City of Fridley Housing and Redevelopment Authority
  • MN DEED
  • Metropolitan Council
  • Minnesota Pollution Control Agency
  • US Environmental Protection Agency
  • Anoka County
  • MA Mortenson
  • Braun Intertec
  • Frattalone Companies
  • Mohagen Hansen
  • Westwood
  • Colliers
  • First National Bank of Omaha
  • Parkway Law
  • Gray Plant Mooty

More info: http://northernstacksmn.com