Winthrop & Weinstine Represents Dominium in Pillsbury A-Mill Project
Significant Economic Redevelopment Will Convert Former Mill into Artist
Minneapolis, MN –
October 11, 2013. Winthrop & Weinstine is pleased to announce that
it represented Dominium Development & Acquisitions in the acquisition and
financing of the historic Pillsbury A-Mill on the Mississippi River in downtown
Minneapolis. The total value of the
transaction is approximately $125 million, and involved a tax credit investor
and debt financing from a number of sources.
The project will be a significant economic
redevelopment project for the City of Minneapolis and the Riverfront. The Pillsbury A-Mill, once one of the largest
flour mills in the world, will be redeveloped into low-income artist live-work
apartments. The building has a very unique physical design that involves
150-year-old tunnels, which bring water into the Project to provide heating and
cooling. In addition, the outdoor spaces, including gardens and a former railroad
corridor, will be open to the public, and there are plans for a museum and
performing art space.
“We are proud to be a part of this development for our
community,” said John Nolde, shareholder and a lead attorney on the team.
“Converting this formerly abandoned, historic building will be a huge boon, not
only for our local artists, but also for the City of Minneapolis and the entire
“It is a testimony to the unique ability, economic and
personal resources, and expertise that Dominium brought to the transaction that
enabled them to complete a deal that was extremely complex and difficult to put
together, but one that is very important for the future,” added Todd Urness. “We
congratulate them, and are glad to have partnered with Dominium towards this
Attorneys Todd Urness and John Nolde led the Winthrop
& Weinstine team, which also included Paul Markwardt, Joanne Matzen, Tami
Diehm, Jeffrey Drennan, and Scott Jahnke.
About Winthrop &
Weinstine, P.A., is a dynamic and growing law firm focused on building strong
client relationships through responsiveness, innovation and creativity. The firm enjoys steady growth by meeting the
diverse needs of its clients from individuals and emerging-growth businesses to
Fortune 500 companies in an impressive array of industries throughout the Twin
Cities and nationally.