Drop-offs could soon be very different at the former Rainbow Foods store on East Lake Street in Minneapolis. If redevelopment plans are approved, the loading docks where trucks delivered groceries will soon be used for school buses.
St. Paul developer Wellington Management plans to turn the backside of the vacant store into a charter school and use the front for a smaller grocery and other retail stores. Senior housing also is part of the plan.
Wellington's redevelopment documents are on the agenda for Minneapolis' planning commission meeting on Monday.
"We are really excited about it," said David Wellington, director of acquisitions and development. "That's a pretty big upgrade to what is already there."
The Rainbow, located at 2912 28th Av. S., has been empty since 2014. Wellington Management purchased the store and the 5.8-acre site it sits on in July for $5.35 million and has tested the market for potential tenants and uses.
The firm decided that reusing the Rainbow building was the way to go because it was still in good condition, Wellington said. But the structure did have some redevelopment challenges, mainly its depth. The 70,000-square-foot building is nearly 300 feet deep in some parts, so just breaking it up into space for multiple retail stores would have been impractical.
"Retailers, they don't want to pay for deep space," he said. "They would have to be bowling alleys."
Wellington has developed a handful of charter schools, including Lionsgate Academy last year in Minnetonka.