Allianz Field’s opening pushes the Twin Cities’ 10-year stadium construction volume to $2.2 billion
Allianz Field debuted this month as the new home of the Minnesota United FC.
April 23, 2019
- Allianz Field debuted this month as the new home of the Minnesota United FC. The newest Major League Soccer stadium was developed by Mortenson in St. Paul’s Midway neighborhood off I-94 and Snelling and is located along the Light Rail Green Line. The stadium’s construction cost $250 million, all from private sector financing. It features 19,400 seats and a 96 tap brew hall.
- Allianz Field is the fifth new stadium to open in the Twin Cities in the past decade. Target Field, which opened in 2010, was one of the biggest catalysts to surrounding development in the North Loop. Likewise, the Vikings’ new home at U.S. Bank Stadium spurred surrounding activity in the East Town micromarket of the Minneapolis CBD. With a total construction cost of $1.1 billion, the stadium’s hosting of Super Bowl LII in 2018 brought 100,000 visitors to the Twin Cities and had an economic impact of $450 million.
- The future impact of Allianz Field will be realized as work on the planned Snelling-Midway Redevelopment Site begins. The 34.5 acre superblock will soon be home to office, residential, retail, parking, and public spaces.
Source: JLL Research, Star Tribune, City of St. Paul