United Properties announced today that it has closed on the purchase of the land from the City of Minneapolis to commence RBC Gateway development at Third Street and Nicollet Mall in downtown Minneapolis. On-site work begins this week with a groundbreaking event planned for June 18, 2019.
“We are very excited as we put the finishing touches on all aspects of the RBC Gateway project,” said Bill Katter, president and chief investment officer, United Properties Development. “RBC Gateway represents the most complicated and compelling project United Properties has undertaken in our 100-plus year history, and one that we are very proud to begin moving forward. We are grateful to our partners for their support of this project including the City of Minneapolis, RBC Wealth Management and Four Seasons.”
RBC Gateway is a 34-story mixed-use development that features approximately 531,000 sq. ft. of office space anchored by the U.S. headquarters of RBC Wealth Management, plus the Twin Cities’ first five-star hotel and luxury residences. The Four Seasons Hotel will feature 222 rooms and 31 fully serviced Four Seasons Private Residences, complete with all of the world-class amenities Four Seasons offers.
“RBC Gateway will be a stunning addition to downtown Minneapolis, setting a new standard for Class A office space, as well as luxury accommodations and residences benefitting the city and state,” Katter said.
The project is on track for an expected completion in late 2021. More details about the project will be provided at a groundbreaking event June 18, 2019, at 1 p.m., at Cancer Survivors Park in downtown Minneapolis, across the street from the RBC Gateway site.