For Immediate Release
Contact: Megan Tsui
Executive Director of Downtown Main Street Red Wing
(February 1, 2022, Red Wing, Minn) – The community of Red Wing proudly announces it has launched the Red Wing Redevelopment Challenge to spur development in downtown Red Wing, Minn.
The Red Wing Redevelopment Challenge is a new development program designed to spur economic and housing growth in Red Wing’s historic downtown area. Community partners are offering an incentive package worth up to $335,000 for one redevelopment project completed by December 2023 (or 18 months after the project is awarded) and located within the downtown Red Wing historic district.
The Red Wing Redevelopment Challenge utilizes existing funding sources dedicated to downtown revitalization in combination with local foundation funding to provide this financial assistance program. This pilot program will enable the community of Red Wing to market a suite of redevelopment financial assistance tools together, demonstrating the integration of multiple redevelopment resources and supporting vertical infrastructure projects that contribute to the continued development of downtown Red Wing.
Red Wing Downtown Main Street has organized this effort with assistance from various local businesses, organizations, and members of the Red Wing community. Partners include the City of Red Wing, Red Wing Port Authority, Red Wing Housing and Redevelopment Authority, Goodhue County, and the Jones Family Foundation.
“We are thrilled to promote these resources to offer developers and property owners with even more support to bring brick and mortar revitalization to our downtown,“ said Becky Norton, President of the Red Wing City Council. “These matching and gap funds will help spur a project that might add housing or other significant updating to one of our beautiful historic buildings. Our community is ready to help make a project happen by pooling private and public funding together in this exciting way.”
This is the third “Challenge” from Red Wing Downtown Main Street and their partners. The Restaurant Challenge in 2015 launched the Stagehead Restaurant, and the 2016 Retail Challenge supported the opening of The Red Wing Bicycle Company and Rivertown Comics and Games. “These Challenges bring focus and attention to the needs of our community. With the Redevelopment Challenge, we are building on our success and hoping to spotlight the opportunities for investment available in our downtown,” said Megan Tsui, Executive Director of Red Wing Downtown Main Street.
The Challenge winner will work directly with the various partners to bring their project to life. There is a dollar-for-dollar match required. Downtown Main Street will provide technical assistance to help get a project ready for application, so interested parties can find the pre-application form and read all the details here: https://redwingbuildings.com/resources/redevelopment-challenge.
For more information about the Red Wing Redevelopment Challenge, contact Megan Tsui at 612-807-0804 or firstname.lastname@example.org