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Stadium Watch Blog
Tim Nelson

Wells Fargo signed off on towers development near Vikings stadium

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Wells Fargo and Ryan Companies have officially sealed their deal that will bring 5,000 employees to a new $300 million dollar complex near the new Vikings stadium.

Wells Fargo said in a statement that they'd signed the development agreement that was first announced in May. The project is expected to break ground in April and the first phase is set to open at the end of 2015.

The complete project, including two connected towers, skyways and parking, is expected to cost about $400 million.

The deal includes $65 million in bonds issued by the city of Minneapolis to help finance a parking ramp for the Wells Fargo buildings and the stadium. It will also help establish a new park on two blocks in downtown Minneapolis.

There is still a lawsuit challenging the deal pending in Hennepin County District Court, but a judge there has already dismissed most of counts of the suit.