The Edina Housing and Redevelopment Authority selected a development team consisting of Hemple Real Estate, Monarch Development Partners, Jester Concepts and ROOS Advisors to purchase and redevelop the former public works site on Eden Avenue during its Thursday meeting.

The three-acre site, located west of Highway 100 behind Jerry's Foods, attracted proposals from 11 development teams earlier this year. Five teams made formal presentations to the HRA in July. Economic Development Manager Bill Nuendorf said the selected team's proposal focuses on "missing middle scale for-sale housing" including townhomes, condominiums and commercial space arranged to create a walkable neighborhood with public outdoor spaces.

The HRA also approved a $1.5 million interfund loan from the Centennial Lakes TIF District to help finance the Highway 100 bridge project currently under construction. The loan carries 4% annual interest and allows for potential repayment from future tax increment revenues from the Eden Wilson TIF District, though repayment is not guaranteed.

Commissioners approved amendments to redevelopment agreements for the former Macy's furniture site at 7235 France Avenue, extending project timelines by nine months. The delay resulted from changes in the purchase arrangement between the developers and Macy's, with closing now scheduled for early September rather than the original January date.

Nuendorf provided updates on the SPARK economic development program, noting the state deadline has been extended to December 31, 2026. The HRA has approximately $450,000 remaining in SPARK funds and is considering three restaurant projects for potential assistance, including expansions at 50th and France, Mesa Green, and the former Regis headquarters building.