Well, the 10th & Nicollet tower site was indeed purchased by Target. They have converted the existing building into an employee "party zone"
with a gym, meeting rooms, etc. So no new tower yet. But it has been said they bought the site to "park" it for future expansion of their HQ, perhaps 3-5 years off.
The 36-story apartment tower near Loring Park is about to start construction. Magellan just closed on it's loan yesterday, the site has been cordoned off,the signs are up and the construction trailer is in place.
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The 5th & Nicollet tower is scheduled to break ground the first week of December:
Source
In addition, talks are underway for a new convention center hotel which is supposed to be "substantial" whatever that means.
The city is seeking bids for the $100 million Target Center renovation:
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http://www.targetcenterrenovation.org/
A renovation of an existing small building in Minneapolis is well underway and will become the Union Restaurant and nightclub. One of the largest retractable glass roofs (apart from a stadium!) in the Midwest is part of the project:
Source
Hines development is proposing a pair of towers - 24 & 26 stories - for 350 North Fifth Av in downtown Minneapolis across the street from Target Field and the LRT station. Occupancy for 2015. The office tower client is "confidential" but is rumored to be the
National Marrow Donor Program. The NMDP has
publicly stated they are looking for about 450,000 sq. ft. for a new HQ and are focusing on this site and one other nearby but we don't know if they have committed to a deal or not. It's unclear who/what will occupy the 2nd tower or if it is just a "phase 2" since it looks pretty generic and doesn't show up in the 2nd rendering below.
As of July 2012, there were nearly 11,000 units of housing under construction & proposed in the core cities of Minneapolis & St. Paul. So perhaps the 2nd tower is supposed to be for apartments. Several thousand units have already come on line in Minneapolis and yet the vacancy rate is still hovering around 2%.
Photos from
Pickard-Chilton Architects Portfolio: