Red Wing receives redevelopment grant
October 19, 2024
The city of Red Wing has received a redevelopment grant from the Minnesota Department of Employment and Economic Development (DEED).
DEED awarded the city $746,500 for demolition of the 1.31 acre site that was formerly the Red Wing Malting Company and Fleischmann Malting Company. The site will be redeveloped as a mixed-use building with 120 residential units, 15 of which will be affordable, and 12,000 square feet of commercial space, according to DEED. The project is anticipated to create 35 jobs, increase the tax base by $195,410 and leverage $30.1 million of private investment, according to DEED. Matching funds will be provided by the developer, tax-increment financing and the city.