Paster Enterprises Receives Financing Approval for Mendota Plaza Redevelopment
By: Mark Winter
MENDOTA HEIGHTS, Minn. March 31, 2010 – St. Paul, Minn,-based Paster Enterprises, a leading manager and developer of neighborhood shopping centers in the Twin Cities, received financing approval for the redevelopment and expansion of Mendota Plaza in Mendota Heights, Minn. Paster Enterprises President Howard Paster made the announcement.
“We’re thrilled that the redevelopment will soon be underway,” said Paster. “The improved Mendota Plaza will be a true community destination and we look forward to providing the residents of metropolitan Minneapolis with a pedestrian-friendly location to gather, shop and dine.”
The redevelopment, which is scheduled to begin this Spring, will include remodeling the existing 48,000-square-foot building, major parking improvements and significant landscaping enhancements, all of which will be completed by Fall 2010. A 14,820-square-foot, stand-alone Walgreens will also break ground shortly, with a projected completion of Spring 2011.
Future phases, which will be added over the course of the next four years, include the addition of retail buildings, senior housing, office space and a childcare facility. When complete, Mendota Plaza will be more than double its’ current size.
Click below to view and download a photo of the Mendota Heights Rendering.
Founded in 1946, Paster Enterprises is a family-owned leader in shopping center management and development that owns and manages more than 1,000,000 square feet of commercial real estate. For over 60 years, Paster Enterprises has planned, built, leased and managed attractive, successful shopping centers in the Twin Cities metropolitan area, as well as in greater Minnesota. Paster Enterprises is committed to helping retailers flourish and serving as an excellent corporate citizen in the communities in which they have shopping centers.
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