Rochester Considers Riverfront Redevelopment
ROCHESTER, Minn. – Rochester is exploring the possibility of redeveloping land along the Zumbro River, transforming areas that were once power plants into vibrant neighborhoods.
The City of Rochester has identified the former Silver Lake Power Plant site as a potential redevelopment project. Given its status as a local landmark, any new plans will likely require evaluation by the Heritage Preservation Commission (HPC).
During a City Council meeting on Monday, members did not finalize the development plan. Instead, they approved an agreement with Landmark Development from Madison, Wisconsin, making them the exclusive developer for negotiations concerning a proposed “destination district” at the site.
This concept envisions a sports venue, possibly featuring the Rochester Honkers, alongside plans for retail, dining, and entertainment options in the long run.
Benjamin Zastrow from the HPC acknowledged the potential benefits this new facility could bring to Rochester, however, he expressed concerns about effects like increased property taxes and development pressures in the vicinity.
“In some cases, an assessment might be applied to these properties, while in others, it may not,” Zastrow noted. “There will certainly be development pressure tied to this, but it may take 10 to 20 years for everything to come to fruition.”
Even with this exclusive agreement, any final endorsement still hinges on the HPC’s approval, and might also require the City Council’s input based on whether the project proceeds as a Certificate of Suitability or goes through the Planned Unit Development and Rezoning process. A definite decision isn’t anticipated before 2029.
Community members are considering both the potential upsides and downsides of this redevelopment.
Benjamin Hayne, president of the Rochester Repertory Theater Board, believes the project could foster business growth and attract new development, even if it results in higher taxes.
“We’re planning to expand regardless, so perhaps the increased value of our property will enable us to relocate and build elsewhere,” Hayne commented.
Currently, the only agreement concerning the plant is with Mayo Clinic, which runs until 2027, with an extension option until 2028. This timeline might affect when the site can be handed over for redevelopment.
