$155M Target Center Renovation Proposed

MINNEAPOLIS - The Minnesota Timberwolves and city of Minneapolis on Tuesday proposed a $155 million project to renovate Target Center.

The renovation proposal comes on top of the $50 million the city has already committed to spend over 10 years for basic maintenance, and the bonding bill proposed by Gov. Mark Dayton on Monday would provide the facility with another $8 million.

The biggest changes included in the renovation plan include shifting the main entrance to the corner of 6th Street and First Avenue, a corner that has become a fan hub with the addition of Target Field and Kieran’s to the neighborhood. The plan also adds two large glass atriums to the arena and another restaurant.

“To remain relevant, we need to renovate,” said Steve Mattson, Target Center general manager.

Officials said $155 million is a bargain to renovate Target Center, especially when you compare the price tag to that of a new arena -- like the $480 million Amway Center in Orlando. Officials also said the cost of renovations are less than a third of what it took to build Target Field, and is one sixth the cost of the new Vikings’ stadium proposal.

“This will reduce the reliance of the building on Minneapolis taxpayers,” Minneapolis City Council President Barb Johnson said.

Mayor R.T. Rybak and Glen Taylor, owner of the Timberwolves, described the plan as a “sensible Minnesota solution.”

“As Target Center has aged,” Rybak said, “its competitiveness has slipped. Let’s not wait for Target Center to be too far gone, like we have with too many other facilities too many times across the country. We are a great state and a great region that deserves a facility of this caliber, so let’s do it differently in Minnesota, by investing in it now while it’s sensible to do so.”

Target Center is also overdue for a modernization of its loading docks, which can’t handle the trucks that haul in equipment for concerts and other large events. Those trucks used to park near the current site of Target Field.

“Like in the people who fix the boiler or the roof, we realize in order to make a building competitive, you have to make the investments,” Minneapolis Mayor R.T. Rybak said.

Taylor told the Associated Press he would contribute some of his own money to remodeling the 21-year-old arena -- currently the fourth oldest arena in the NBA.

"We strongly support the proposal to renovate Target Center at this point in time," said Taylor. "Although Wolves games only account for 25% of the events in the building, we obviously have an opinion on the matter because it has a huge impact on our fans and their experience at games. Everyone understands that these are tough economic times, but this proposal is a smart, sensible and frugal approach to keeping Target Center competitive for the next 20 years."

Part of the renovations include updating locker and dressing rooms in the facility, as well as concourses, concession stands and restrooms.

Currently, Minneapolis contributes $12 million annually to maintain, operate and pay debts on the facility, which generates more than $100 million and hosts roughly 1 million visitors annually.

When announcing the plan, officials stressed that the Timberwolves only account for 25 percent of the building’s events, and said the center ranks as the 28th busiest building in the country and 57th in the world.

Anyone interested in finding out more about the renovation proposal can visit www.targetcenterrenovation.com .