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UPDATED: Lakewinds Co-Op Signs Purchase Agreement with Lyndale Gardens Developer

Site plans have changed as a result of the deal, too.

Lyndale Gardens developer, The Cornerstone Group, announced its first official tenant Tuesday night.

Lakewinds Natural Foods, a co-op grocer with two metro area locations, has signed on to be a part of the development, according to Colleen Carey, president of The Cornerstone Group.

"We've been working with this grocer for almost a year and a half and its really satisfying for us to be able formally announce it," Carey told Richfield Patch Tuesday. "We think [Lakewinds is] a great fit for the vision we have for the site. ... That's why we stuck with it so long."

A purchase agreement was finalized last week and the announcement was made at a Richfield City Council special worksession at 5:45 p.m. Tuesday.

Yes. A purchase agreement. Not a lease agreement.

Carey said Lakewinds Natural Foods has agreed to purchase the Lyndale Garden Center building, along with some additional land, and plans to demolish the building and start fresh.

As many will recall, since the beginning of the redevelopment talks, The Cornerstone Group planned to keep and rehab the building. Needless to say, the agreement with the grocer changes those site plans quite a bit.

Carey said a second building would be built, which would back up against the grocery store. Talks with other tenants—a hardware store, a restaurant and other interested parties—are still happening, but nothing has been finalized.

"We just couldn't move forward until we knew what was happening with the grocer," Carey told Patch. "Right now we believe [the second building] would have approximately 8,500 square feet."

That 8,500 square feet could mean a couple large tenants—like the hardware store or restaurant—or a mix of large and small tenants, such as a coffee shop, offices, an ice cream parlor and so on. Other plans for the site, such as an outdoor ampitheater and market area, have not changed.

At the time of this article, the Richfield City Council, HRA and The Cornerstone Group were still in the special worksession discussing the details.

"If the city council doesn't like [the idea of demolishing the building] Lakewinds said they were still interested," Carey said. "It would just be their preference to start over with a new building."

Lakewinds General Manager Dale Woodbeck was also present Tuesday night. Carey said the co-op employees were made aware of the new store earlier in the day. Other locations are in Minnetonka and Chanhassen. *A PDF of the new design plans have been attached to this article.

Richfield Patch will update readers as more information becomes available.

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Other related articles:

  • Lyndale Garden Center to Transform into Winter Market
  • Lyndale Gardens Developer 'Disappointed' By Bandshell Location Recommendation
  • Lyndale Gardens Developer to Announce First Tenant

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J.T. Wyckoff December 12, 2012 at 09:15 PM
Really excited for the new addition to our city!! Keep bringing good businesses.
Matt December 17, 2012 at 05:29 AM
I'm eager to see a revised site plan. If they are building a brand new building, then it should come right up to the sidewalk (minimum setback) and have a strong corner entrance to give the area a more walkable, urban feel. The parking lot should be hidden behind the building to keep a more continuous wall of buildings along Lyndale.
Sandra December 19, 2012 at 08:09 PM
Very exciting and a good match for Richfield! I too am concerned about how they would re-build. I'd prefer to see them at least keep the bones of what is there. Pizza Luce did an AMAZING re-working of the old Bridgeman's building so they could look there for inspiration.
Sean Hayford Oleary December 21, 2012 at 06:49 PM
As I feared, the latest design plans (http://www.lyndalegardens.com/wp-content/uploads/2012/11/20121211_illustrative_8.5x11w_labels.pdf) represent a significant change from the previous plans. The new proposed design would be about 80% surface parking frontage on Lyndale, with the only building frontage being a side wall of the grocery store. This is not acceptable for Richfield's downtown, particularly when it involves taking down a distinctive building that does front Lyndale today. See the Kowalski's grocery stores at 54th and Lyndale and 56th and Chicago for much better ways to handle parking without degrading the streetscape.
Caitlin Burgess December 21, 2012 at 07:08 PM
I was just going to upload a PDF of the design! They have been added above for easy viewing.

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