The group behind the Roof Depot project in south Minneapolis missed a purchase agreement deadline with the city this week, but remains optimistic it can secure the site that community members fought for years to obtain.
The East Phillips Neighborhood Institute (EPNI) failed to pay the $5.7 million needed to meet a purchase agreement deadline with the city of Minneapolis to complete the acquisition of the Roof Depot, a former Sears warehouse they plan to convert into an indoor urban farm, affordable housing and a community business hub. The city had planned to construct a public works facility on the site before agreeing to sell the property to the group.
The missed Monday deadline initiates a contract termination process, according to Erik Hansen, the city’s director of community planning and economic development. The contract termination triggers a 60-day period for the institute to complete the purchase.
“If that does not happen, the purchase agreement will fully expire,” Hansen said in a statement. “The city has made staff available to find a path forward throughout this process and will continue to do so during the 60-day cure period.”