Up for an arena and entertainment district in Cottage Grove?

The Cottage Grove Economic Development Authority (EDA) heard about and approved market demand and financial feasibility study from Hunden Partners on this very matter July 11. Set to cost $20,000, the first phase of the feasibility study includes travel and expenses for the consulting firm, with the study a first step meant to determine if the proposed mixed-use development for the site would in fact be sustainable.

The venue is meant to become something unique that would make Cottage Grove a destination city in the East Metro.

Presented on by City Economic Development Director Gretchen Larson, the 73-acre site and study details soon became clear. With the site that of the former proposed Community Center, the property is currently under a purchase agreement with River Caddis, the firm that would develop the site. Larson filled in EDA board members on the details.

“At the recent ICSC Trade Show, we met with the developer who has the option on the property,” Larson shared with Cottage Grove EDA board members. Within the proposal for the property is a proposed mixed-use development to include a multi-use sports and entertainment venue.

“There are elements in the proposal that may need to be analyzed,” she went on. “And the need for an event venue in the south metro is one of those questions.”

So, who are the people who will do the needed feasibility study, aka Hunden Partners?

“They’re a leading advisor in destination real estate development,” Larson said of the firm that does market intelligence and strategy reports with a nationwide background to draw from. “They have lots of arena experience and strong entertainment district experience.”

As to the present feasibility study in Cottage Grove, the proposal by Hunden Partners would include a kickoff organizing call, site visit and local discovery as well as circle back and check-in calls, leading to a phase 1 arena market implications report, available in December.

Following Larson’s presentation and a lengthy discussion the EDA then approved the study, motion being made by EDA member Dan Myers and seconded by EDA member Sandi Scott.

Being thus commissioned by the city, the feasibility study on the 73-acre site should be ready in early fall.