The Lander Group, a Southwest-based development company, has signed a purchase agreement for the building formerly occupied by the Theisen Vending Company at 3800 Nicollet Ave.
Chris Kennelly, a project manager for the Lander Group, said contract negotiations are still ongoing. One holdup is the future of the billboards atop the building, but Kennelly said Lander hopes to close on the Kingfield property in early 2005.
Theisen moved in August to Golden Valley after occupying the 38th & Nicollet corner for almost three decades. The Kingfield Neighborhood Association (KFNA) helped facilitate a partnership between the Lander Group and the building’s owner. KFNA and Theisen had worked on redevelopment plans that included housing.
At KFNA’s November meeting, Kennelly told residents the company plans to preserve the historic character of the building, tearing down the plain brick building shell built over the original structure.
Kennelly said Lander plans to renovate the original building and make it a four-story structure. There would be commercial space on the first floor and condos or apartments on the upper levels.
He said parking configurations for housing tenants and varying types of commercial tenants must still be settled. Kennelly said Lander hopes to begin the project next summer, with estimated completion in summer 2006.
For more information about the Lander Group, visit www.landergroup.com. For more on KFNA, see www.kingfield.org.