MINNEAPOLIS-ST. PAUL, Minn. - Target Corporation (NYSE:TGT) and the Minnesota Twins, in conjunction with the Minnesota Ballpark Authority (MBA), today unveiled plans for the construction of Target Plaza - a pedestrian bridge and public gathering space connecting Target Field to the heart of downtown Minneapolis.
The bridge spanning more than two acres between 6th and 7th Streets in the Minneapolis Warehouse District will become Target Plaza located on the east side of Target Field - the new world-class home of the Twins scheduled to open in 2010. The plaza will serve as the ballpark's gateway from downtown Minneapolis.
As announced in September of 2008, the Twins-Target partnership calls for both companies to contribute incremental funds to enhance the overall design of Target Plaza. In addition, the Twins are working with the MBA - the public owner of Target Field and Target Plaza - to ensure the extension of the plaza pedestrian bridge along 6th Street to 1st Avenue.
"The Minnesota Twins are proud to have this opportunity to partner with Target Corporation on the creation of this public gathering place adjacent to Target Field," Twins Sports Inc. President Jerry Bell said. "Target Plaza promises to be a dynamic addition to downtown Minneapolis - both on game day and non-game days."
"Target Plaza will welcome fans and create a family-friendly, energetic space for pre-and post-game activities," said Shawn Gensch, vice president of marketing of Target. "Public spaces are vital to our community. Target Plaza will be a wonderful addition to the downtown area and for Twins fans to enjoy for many years to come."
Designed by Minneapolis-based Oslund and Associates in conjunction with HOK Sport of Kansas City, Target Plaza features a variety of dynamic elements, including:
- Green roof system with trees, shrubs, perennials and turf areas
- 3-sweeping shade canopies
- 9-40' tall topiary frames
- 285' wide x 60' high kinetic wind sculpture attached to the Ramp B parking facility
- Architectural paving pattern on plaza
- Fan and player recognition wall
- Potential sculptures of legendary Twins players
"This is a great day for the project," said Steve Cramer, chair of the Minnesota Ballpark Authority. "When we approved the ballpark budget, we said we were focused on getting the fundamentals right, including extending the plaza to 1st Avenue North. The Minnesota Twins and Target Corporation are to be commended for the generous contributions that will ensure we have a world-class public plaza next to a world-class ballpark."
About Target Field
Target Field, one of America's most urban ballparks, will be located in the historic Warehouse district of downtown Minneapolis. Site clearing began May 15, 2007 with actual construction commencing in August 2007. Designed by HOK Sport with Mortenson Construction serving as construction manager, the 40,000 seat ballpark is slated for completion prior to Opening Day 2010 and the cost of construction is $412 million. The Twins and Target Corporation announced a historic 25-year naming agreement for Target Field and Target Plaza on September 15, 2008. The Twins Ballpark Webcam provides fans the opportunity to view progress on the construction of the new downtown Minneapolis ballpark through completion in the spring of 2010. For more information on Target Field and to view the site through the Webcam, visit www.twinsbaseball.com/newballpark.
Minneapolis-based Target Corporation (NYSE:TGT) serves guests at 1,677 stores in 48 states nationwide and at Target.com. Target is committed to providing a fun and convenient shopping experience with access to unique and highly differentiated products at affordable prices. Since 1946, the corporation has given 5 percent of its income through community grants and programs like Take Charge of Education. Today, that giving equals more than $3 million a week.
The Minnesota Legislature in 2006 approved legislation to fund the new Minnesota Twins ballpark. The legislative action was the culmination of a 10-year effort to return outdoor baseball to Minnesota. Under the terms of the legislation, the public contribution is $350 million, which includes $90 million for infrastructure and $260 million for ballpark construction. The public contribution is being financed by Hennepin County issued bonds that will be repaid from a County sales tax. The Minnesota Ballpark Authority (MBA) was created to oversee the design, construction and operation of the new ballpark. The MBA will own the ballpark and the site on which it sits on behalf of the public. Under the original legislation, the Minnesota Twins' contribution was $130 million for construction costs and any cost overruns. Since the legislation was adopted, the team also has committed to contributing an additional $15 million for non-land infrastructure expenses and $22.5 million for ballpark construction costs and other facility enhancements. A total project budget of approximately $517.5 million was approved in February of 2008.