Capital One 360 Café

St. Cloud,
MN
(2008)

Capital One 360 Café

Mixed-use

A new 75,000 sq. ft. four-story office space in downtown St. Cloud.

Investment

NMTC Amount: $9,977,920
Total Project Cost: $10,065,498

IMPACT

90 FTE jobs
75 construction jobs
75,000 sq. ft. of real estate

CDEs

Midwest Minnesota CDC

Investor

Project Description

ING Direct (since acquired by Capital One) is at home in its new 75,000 sq. ft., four-story office space in downtown St. Cloud. The site was acquired from the St. Cloud Housing and Redevelopment Authority by Cloudbar & Associates and developed by Dunbar Development Corporation, with additional improvements by ING. MMCDC provided $10.45 million in low-cost project financing. Community Benefit: The ING Direct project directed significant new investment and created 90 new jobs in a neighborhood with a 49 percent poverty rate. investment was part of an effort to reinvest in downtown St. Cloud following a gas explosion

MAP

Address: 30 Seventh Avenue South, St. Cloud, MN 56301

Census Tract: 27145011600

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