It’s a “vibrant location” that is “long overdue” for redevelopment, says Juan DeAngulo, COO of Elion, a Miami-based real estate firm that hopes to breathe new life into the former State Farm campus in Woodbury.
DeAngulo said his company has a plan for the “right mix of uses” at the site, which has been vacant since 2004.
Exactly what those uses will be is expected to be outlined at the Woodbury Business Classic on Oct. 3. DeAngulo said he will be on hand for the invite-only event.
A day after Elion announced it would take over the campus for redevelopment, DeAngulo spoke in general terms about the Radio Drive-Interstate 94 parcel.
DeAngulo acknowledged there’s a “very thin” pool for a single tenant for the 400,000-square foot building, but there are four distinct entrances that could make it attractive to multiple companies.
As for future development at the 100-acre site, DeAngulo would not divulge specifics, but said there would definitely be new construction.
“There will be dirt moved,” he said.
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City officials on Tuesday had good things to say about the prospects for the old State Farm building and surrounding land.
Mayor Mary Giuliani Stephens:
“The city is encouraged by Elion’s approach to the property. We’re excited to work with Elion and its team as it finalizes its conceptual design and takes it through the city’s approval process.”
Councilman Christopher Burns:
“I am excited to see this gateway area to have a new opportunity. Candidly, this property is the area I am asked about the most by our residents and I am glad that, preliminarily, it appears that we now have some very good news to share with our residents after several years of opportunities that never fully blossomed. I look forward to the future presentation to the council and to the new jobs it will bring to our community.”
Community Development Director Dwight Picha:
“We’ve made our initial review of the team’s concept plan for the site, and we are pleased that the plans generally respect the city’s vision for this gateway area.”
Elion has undertaken similar-sized projects in the southeastern U.S. and is in the process of completing others in Minnesota, DeAngulo said.
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