Twin Lakes Technology Center: Powering Roseville’s Next Chapter

This spring, construction starts on Twin Lakes Technology Center, a new light industrial tech development poised to bring more than 150 new jobs to Roseville.

The 152,250-square-foot building will be located on a 12.5-acre site at 1945 Twin Lakes Parkway. Minneapolis-based Hyde Development will clean up and redevelop the former truck terminal site with plans to open the new building by December.

“Our focus is now on finding companies in technology, manufacturing, medical, lab, and other industries to occupy the space,” said Hyde Development CEO Paul Hyde. “We’ve been marketing the space, and we already have seven different prospective tenants.”

It’s the final piece in a much larger remediation and reimagining of the Twin Lakes area, 300 acres in northwestern Roseville once occupied by trucking terminals.

Two decades ago, city leaders recognized the value and potential of Twin Lakes, but they also understood the site’s former industrial use required extensive and expensive environmental clean-up. The city has partnered with developers, including Hyde, to add new businesses, housing, and amenities.

“The City is pleased to see the final Twin Lakes property cleaned up and developed with a use that contributes positively to the area and tax base, as well as bring jobs with competitive wages,” said Roseville Community Development Director Janice Gundlach.

Hyde Development specializes in urban and suburban infill sites that almost always require remediation as the first step in redevelopment. Cleanup of diesel fuel and cleaning solvents in the soil at the Roseville site is estimated to cost $7 million. Hyde has an approved cleanup plan with the state, which is expected to be funded through grants from the city, county, and state, nearly all of which has already been secured, Hyde said.

“The cleanup assistance is critical to the project and allows us to charge competitive, market-rate rents. Otherwise, we would price ourselves out of the market,” Hyde said.
Minnesota was the first state in the country to create liability protections and grant programs, which allow developers to clean up and redevelop polluted sites, Hyde said.

In addition, the Roseville Economic Development Authority has received grant awards from three different sources to assist with the cleanup costs: $2,090,850 from the Minnesota Department of Employment and Economic Development $325,000 from the Metropolitan Council, and $500,000 from Ramsey County.

The construction firm for the project is Mortenson, with Pope Design Group as the building designer. Mike Bowen and Matt Oelschlager with CBRE will be the leasing brokers.

Once it’s complete, Twin Lakes Technology Center will add over $20 million of market value to the tax base.
Hyde, who has completed similar projects across the Twin Cities, said the Twin Lakes site offered several advantages.

“The location of the site in Roseville is key. Access to the Interstate is vital. We also have a very talented labor force in Roseville,” Hyde said.