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Twins Owners' Real Estate Company Has Spurred Development Around Target Field

In the five years "since the publicly subsidized Target Field opened," the Pohlad family, which owns the Twins, has "been doing at least as well outside the stadium as their team has been doing in it," according to Mike Kaszuba of the Minneapolis STAR TRIBUNE. United Properties, the Pohlad's developmental company, "has bought the adjoining Ford Center office building, inserted the Pohlad-owned radio station into it and lured the bone-marrow transplant nonprofit Be the Match into a new building going up across the street." It also "announced plans for a tall office building next to Target Field Station and has joined in an attempt to build a soccer stadium just down the street." The team "also has an option to develop a 3.2-acre land parcel" across from the ballpark. The option "extends until 2025 but the Twins have not made rent or option payments on the property because of other contributions the team has made." Twins CEO and United Properties BOD Chair Jim Pohlad said that he "never pushed for United Properties to more aggressively develop near Target Field, and left that decision to others." Kaszuba wrote the interests of the Twins and United Properties at times "have seemed joined." Twins President Dave St. Peter "took a lead in negotiations with Hennepin County regarding Target Field Station." St. Peter said the project "brought me (in) a little deeper than normally I would be." He added, "We obviously have a sister company. (It’s) only natural that we work together." Kazsuba wrote while others "submitted proposals for Target Field Station, United Properties and the county seemed destined to work together on the project" (Minneapolis STAR TRIBUNE, 8/16).

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