Northern Stacks I

Nominated by Northern Stacks I LLC, a joint venture between Hyde Development and M.A. Mortenson Company

The Site had originally been agricultural property (reportedly a cornfield) prior to the development in the 1940’s. The NIROP plant was constructed to produce advanced weapons systems (gun mounts and other missile launching systems for naval ships) with the onset of World War II. The property was owned by the government, operated by Northern Ordinance, Inc. and later by FMC Corporation that became BAE Systems, which has operations at the facility today. In 2005, the 122-acre property was sold to ELT Minneapolis LLC. In 2013, the 122-acre property was sold to the current owner, Fridley Land LLC. Notable operations associated with the facility included welding, vapor degreasing of metal parts and products, painting, plating, annealing, etching, bulk gasoline and fuel oil storage, chemical storage, and on-site waste storage and disposal. Smaller cities like Fridley have fewer surplus dollars than larger cities with deeper property tax bases, making it far more difficult to assemble the necessary funds to complete the redevelopment. Additionally, Anoka county does not have an ERF Grant Program like Hennepin and Ramsey counties—which meant one less source of funding. The redevelopment was further complicated by the enormous cost to redevelop such a large and complex site. When completed, the entire redevelopment is expected to create 3,000 new jobs, and Northern Stacks I alone will create over 200 new jobs. The entire redevelopment will add over $100 million in new property tax base and over $3 million in new property taxes annually. The first building, Northern Stacks I, will add over $10 million in new property tax base and over $400,000 in new annual property taxes.

Project Financing

  • Private Capital
  • Bank Loan
  • Tax Increment Financing
  • HSS TIF
  • DEED
  • Metropolitan Council

Project Partners

  • Hyde Development and Mortenson Co (joint venture partners)
  • The City of Fridley Housing and Redevelopment Authority
  • DEE
  • Metropolitan Council
  • MPCA
  • EPA
  • Anoka County
  • MA Mortenson (Construction)
  • Braun Intertec Corporation (Remediation)
  • Rachel Contracting (Remedial Contractor)
  • Mohagen Hansen (Architect)
  • Westwood (Civil Engineer)
  • Colliers International (Broker)
  • First National Bank of Omaha (Lender)
  • Parkway Law (Environmental Counsel)
  • Gray Plant Mooty (Attorney)