The Folwell Neighborhood Association has the opportunity to rent a commercial space, located on the 1st floor at 3701 Fremont Ave N. Occupancy would begin April 1, 2020 with $1800/mo rent covering the first floor Commercial Space + electricity, then garage space Rental would be $60/mo. The goal of this project is for the FNA to have minimal organizational space by sub-leasing the majority of the first floor for a community based business. Contact firstname.lastname@example.org or (612) 643-1686 with any questions or comments.
Below is the information the Board of Directors and contractors used to make the decisions related to the 3701 Fremont space, provided to establish trust and transparency with the community. Below are answers collected from a variety of questions asked of the building owner and city reps.
Jan. 7, 2020 UPDATE
At the Dec. 16, 2019 Folwell Neighborhood Night, the FNA Board of Directors unanimously agreed to move forward with a letter of intent to lease the commercial space for 3701 Fremont Ave N, Minneapolis, MN 55412.
- A small team of board members and community members are being established to serve as a planning team for this project.
- A fundraiser has been planned for Friday February 29, 2020 . Details in the works.
- A fundraising team has been put in place to organize this fundraiser and other general funding ideas.
- NEON has agreed to assist FNA with a business plan.
Dec. 15, 2019 UPDATE:
Prior to making any decisions, the FNA conducted a survey of community members. By Dec. 16, there five total responses. The questions and answers have been included in the link below with names being removed for privacy.
Two major themes from the survey and other feedback were
- The community very much wants a cafe/eatery/food business
- The FNA doesn’t need office space, especially when any FNA funds can go toward better purposes
To make sure intentions are clear, the FNA agrees that they do not need this much office space. $1800 per month for Commercial space + Electricity with $60/mo for garage rent is too much for the organization to commit to without assistance. Without the FNA in this process however, the building will be fully converted to residential. This will loose an ideal multi use commercial space in the community. The FNA can act as a conduit to provide a space for a community business to thrive while they share the risk. The goal is for FNA to work with a business to increase small businesses in Folwell. The letter of intent provides FNA the time to find and build a relationship with a sub-lease partner.
The FNA is excited at the chance to explore this unique opportunity and how the organization can make this space a valuable community center, business incubator, and/or a co-working space with shared occupancy. A small team of board members and staff are researching opportunities and gathering information to present at the upcoming Neighborhood Night on Monday Dec. 16th at 6pm. (Dinner is served at 5:30pm so come early to enjoy a meal.)
Here are some of the answers to questions we have already been hearing:
- The FNA is looking at a 1-3 year lease, not 5 year.
- The Building is zoned as C1.
- Owner will pick up Water, sewer, and gas as part of rent. FNA will be responsible for electric.
- The electrical is 240 on the commercial side, three pronged outlets will be everywhere and should accommodate basic fridge and stove if brought in.
- The furnace was old so it will be replaced with a mini split – it will do heat radiation and air conditioning.
- The FNA is being offered a “first right of refusal” with the lease when the agreement has expired.
- The FNA will need an architect to work with on the project.
- When exterior damages incur (broken windows, etc) the current proposal on the table is to share damage expenses between FNA and the owner.
- The owner will be installing a security system on the outside of the building.
Questions or comments? Email email@example.com or call/text (612) 643-1686.