The quiet liquidation sale at Youngblood Lumber on NE. Central Avenue that could end as early as this week marks the end of a legacy enterprise in Minneapolis, one that is rooted in the Mississippi River and railroad lumber trade that dates to the 19th century.
Youngblood Lumber, its business declining and employment waning by a third to 22 over the last decade, has reached an agreement to sell its one-square-block property at 1335 Central to a yet-unspecified developer.
It's another marker in the transformation of Northeast's main commercial corridor, Central Avenue, over a generation from a blue-collar industrial district tied to river, rail and mill enterprises to one increasingly distinguished by multifamily housing, restaurants, art galleries, studios and offices planted in former factories.
"Northeast has changed a ton since I first started out in a studio on Stinson and Broadway [avenues] in the late 1990s," said Scott McGlasson, owner of Woodsport, which makes high-end furniture in part from specialty hardwoods he hand-picked at Youngblood. "I've been gentrified out of studios twice since then and am now in the Midway area of St. Paul.
"Back then Northeast was mostly working folks and artists. Nowadays there are new condos, taprooms and yoga studios. I've been worried about Youngblood for a while and saw this coming … I just didn't think it would come this fast."
Youngblood owner Tom Youngblood declined to comment. His family has owned the yard for more than 90 years. Earlier operations at the site date to the late 1800s.
"There's been a slowdown in business," said President Randy Rudesill, in a brief telephone interview. "And there were other factors."
Youngblood's operations, including a parking lot, take up less than half the block on which it sits. The buildings and land are valued by Hennepin County for tax purposes at barely $575,000, making it a prime opportunity for what observers speculate could be a residential-commercial complex in a strong development market.