Wayzata, MN – The Wayzata Planning Commission has voted to recommend approval of Lake West Development’s proposal to redevelop the long-vacant TCF Bank site at 200 Lake Street East, with a key condition: the building’s massing breaks must be brought into compliance with city design standards.
At a well-attended public hearing on March 18, commissioners reviewed detailed presentations from city staff and the development team, heard from nearby residents and community members, and deliberated over the plan’s merits and areas of concern.
A New Vision for a Prominent Site
Developer Curt Fretham, owner of Lake West Development, opened the presentation by acknowledging the long road to this moment. “Although this development approval process has been lengthy,” Fretham said, “we remain enthusiastic about this redevelopment.”
Landmark Wayzata. Image courtesy Lake West Development.
Kelsey Thompson, Development Director for Lake West, emphasized the project’s goal of revitalizing a blighted property with a vibrant, mixed-use design. “This building has been sitting vacant for over half a decade,” Thompson said. “It’s full of mold and beyond reasonable repair. This project transforms that blighted property into a place where people can gather, interact, and enjoy Wayzata’s charm.”
The proposed development—called Landmark Wayzata—includes 50 condominium units, first-floor commercial space, underground and surface parking, public parks, covered viewing plazas, and significant environmental remediation. It exceeds open space requirements and integrates stormwater infrastructure to protect Lake Minnetonka.
Staff Report: Project Complies—With One Exception
Planner Val Quarles outlined the city’s staff report, noting that the project complies with zoning, density, and design requirements—except for two of the five proposed massing breaks. While the design includes five ground-level openings along the building’s 760-foot length, staff determined that only three provide the clear public views from the street to Lake Minnetonka as required by city code.
“Our code asks for massing breaks to offer views from the public street,” Quarles explained. “Two of these breaks—between cores A2 and A3 and between A3 and A4—do not meet that standard, primarily due to overbuild above the openings.”
These massing breaks, Quarles noted, are intended not only for aesthetics but to provide visual and potential physical access to the lake from the downtown core.
Public Weighs In
During the public hearing, attorney Darren Knight, representing the Zitzloff Condominiums across the street at 201 East Lake Street, urged the Commission to require all five massing breaks to be open from ground to sky.
“This building spans two full city blocks,” Knight said. “We believe the city’s design standards should apply consistently. Our development across the street had to meet these same expectations.”
A proposed massing break with condos built over top. Image courtesy Lake West Development.
In contrast, Kevin Sullivan and Michelle White, representing the Sons and Daughters of the American Revolution, spoke in favor of the project. They expressed interest in collaborating with the developer and city on commemorative public art installations timed with the nation’s 250th anniversary in 2026.
“We think it would be fantastic for Wayzata to represent Minnesota in this national initiative,” Sullivan said.
Commission Deliberates and Seeks Compromise
Commissioners praised the architectural quality, walkability, and creativity of the design but agreed with staff that the two massing breaks in question must be revised. Several emphasized that ground-to-sky breaks are necessary not only for views of the lake but for maintaining Wayzata’s small-town character.
“One long facade from end to end doesn’t meet the intent of our design standards,” one commissioner noted. “Those breaks bring light, sky, and a sense of openness. They’re essential.”
After confirming that the rest of the application—including density, shoreline impact, parking, and tree preservation—met city requirements, the Commission crafted a motion.
Unanimous Vote with Key Condition
The Commission voted unanimously to recommend approval of the Planned Unit Development (PUD) zoning amendment, concept plan, general plan, and related permits—with the condition that the two noncompliant massing breaks be redesigned to comply fully with city code.
“This is a beautiful, thoughtful project,” said one commissioner. “It will revitalize the west end of Lake Street. But we have to get the massing breaks right.”
The recommendation will now move forward to the Wayzata City Council for review and final consideration.
A proposal from Lake West Development for the former TCF Headquarters located at 200 East Lake Street. Image courtesy Lakewest Development.
After years of debate and multiple redevelopment proposals, Lake West Development and owner Curt Fretham will present their latest vision for the Landmark Wayzata project at a public hearing before the Planning Commission on Monday, March 24, 2025, at 6:30 p.m.
The project, proposed for the former TCF headquarters at 200 Lake Street East, has taken on new urgency following recent vandalism and water damage at the vacant building. As reported by Wayzata.com on March 11, the property has been subjected to break-ins, property damage, and flooding, raising concerns about its ongoing deterioration.
Lake West Development’s fifth attempt to redevelop the site includes:
50 residential units
23,690 square feet of ground-floor commercial space
Underground parking
The application seeks several city approvals, including:
Design Review
Planned Unit Development (PUD) Concept Plan and Amendment
Shoreland Residential PUD/Conditional Use Permit (CUP)
Shoreland Impact Plan/CUP
A Long Road of Redevelopment Efforts
The former TCF headquarters has remained vacant since 2020, and previous redevelopment plans by Lakewest Development have struggled to gain city approval:
2020: Plan to convert the office building into 10 condominiums and add new residential buildings denied by the City Council.
2021: Two-building mixed-use project with 35 residential units withdrawn after the Planning Commission recommended denial.
2022: Two three-story buildings with 32 residential units and 42,000 square feet of commercial space denied by the City Council.
With the March 24 Planning Commission hearing approaching, Lake West Development has launched a website, www.landmarkwayzata.com, to provide details and encourage public feedback.
If approved, the project will move to the City Council for review on April 15, 2025.
As vandalism, water damage and mold continue to impact the property, the upcoming public hearing will be a critical moment in determining the site’s future.
Wayzata residents and stakeholders are encouraged to attend the March 24 hearing at City Hall to share their views on the Landmark Wayzata proposal.
Once a bustling corporate hub, the former TCF Headquarters in downtown Wayzata now stands as a magnet for vandals and trespassers. Property owner Curt Fretham of Lakewest Development says the vacant building has been broken into approximately 20 times in recent years, despite repeated efforts to secure it.
Vandals continue to enter the former TCF Headquarters in Wayzata in spite of repeated efforts to secure the property by Curt Fretham.
“Every time we secure it, they figure out another way to get in,” Fretham said. “We’ve screwed and bolted doors shut, only to have them kicked in again.”
Image copyright Wayzata.com.
The ongoing break-ins have escalated beyond mere trespassing. Individuals have been found inside the building playing games, drinking alcohol, and setting up makeshift gathering spaces. Despite efforts to board up access points, intruders have scaled walls to enter through upper floors as well.
Graffiti on the inside of the windows at 200 Lake Street in Wayzata.
Frozen Pipes Burst
Extensive water damage caused by frozen pipes is also proving to be challenging. A major water leak on the third floor sent thousands of gallons cascading down through the structure, turning stairwells into waterfalls and soaking carpets, flooring, walls, and ceilings beyond repair. The water poured out of the front doors onto the surrounding property before the flow was finally stopped.
Image copyright Wayzata.com.
“The City called me stating they couldn’t figure out where all the water was going, but that their water meter was spinning like crazy,” Fretham recounted. “City staff drove through Wayzata and saw water pouring from the front doors of the [TCF] building. With an 8″ water main pipe, that’s a substantial amount of water.”
Submitted image.
Mold Damage is Extensive
The aftermath has left much of the building covered in mold, raising concerns about the long-term viability of the structure.
Wayzata Police have urged Fretham to secure the property, even as the City Planning Department has been cautious about allowing fencing or other visible deterrents. The situation has required continuous repairs and reinforcement of the property. To ensure the safety of emergency responders, all utilities—water, electricity, gas, and others—have been shut off, allowing them to enter without the risk of shock or explosion.
Photo copyright Wayzata.com.
Fretham and his company, Lakewest Development, are tentatively scheduled to be in front of the Planning Commission and Council in the coming months.
Image copyright Wayzata.com.
The question remains: What’s next for the former TCF Headquarters? And how long can it endure as a target for trespassers, and is the damage likely irreversible at this point?
Image copyright Wayzata.com.
For now, Fretham’s team continues to board up access points and monitor the site. But without a long-term solution, the cycle of break-ins and destruction may be far from over.
As the curtains draw to a close on 2023 and we embark on the journey that is 2024, it’s time to reflect on the events that shaped the Wayzata community, capturing the essence of a year marked by resilience, growth, and change.
In this comprehensive year in review, we will delve into the top stories that unfolded within our community, exploring the triumphs, setbacks, and notable moments that defined Wayzata’s journey throughout the past 12 months.
A $500,000 gift from the Carisch Family significantly boosted the Lakewalk construction and operations funding. Shortly thereafter Jennifer Zhi-Roth also pledged $500,000 to honor her late husband Gunther. Peter Hitch and the Wayzata Conservancy procured the major gifts to the City; and the City subsequently accepted the gifts with gratitude and thanks to the donors.
The Wayzata Gateway mixed use project, located at the corner of Wayzata Boulevard and Superior got underway after the Mithun Family initially received approval from the City of Wayzata for the development in 2022. Upon completion, the project will feature a modern and more compact Wells Fargo bank building, an office complex, along with 67 rental apartments, 9 townhomes, and a park.
After receiving multiple denials for the redevelopment of the former TCF Bank headquarters located at 200 East Lake Street, Lake West Development owner Curt Fretham initiated a lawsuit against the City of Wayzata seeking a neutral third party to weigh in on what can and should be allowed/built on the site.
In today’s economic landscape, coffee shops must adapt with a drive-through as part of their operations. Unfortunately, Caribou Coffee was denied a development application in 2022 for a new store on Wayzata Boulevard with such a drive through; sometime later the location on Lake Street in Wayzata shut its doors in January to the dismay of both Caribou Coffee and Wayzatans. Penny’s Coffee Shop also closed its doors citing trouble staffing the store.
Crew Car Wash opens
Ribbon cutting ceremony at Crew Car Wash. Image courtesy Wayzata Chamber.
Gerrish’s Car Wash underwent a complete transformation in 2023 after being sold and is now the revamped Crew Car Wash on Wayzata Boulevard. The Wayzata Chamber hosted a ribbon cutting in November.
Vegan burger joint Stalk and Spade closed its doors in November. Rumor has it serial entrepreneur and franchisor Steele Smiley will likely bring another restaurant concept to the building in the future.
Red Cow is a popular and upscale restaurant that serves gourmet burgers and wine among other things. It opened in October within the Promenade and near the Hotel Landing.
Anthropologie and the Promenade commenced litigation over rental rates and occupancy by other first class tenants within the commercial shopping development.
Wayzata Bait & Tackle closed in 2023 after 48 years in business, making way for a potential car dealership along the frontage road abutting Interstate 394 just into Minnetonka.
Wayzata Public Schools
Wayzata Public Schools announced $7 million budget shortfall in February
Superintendent Chace Anderson attributes budget challenges to the pandemic’s financial impact, decreased student enrollment, prolonged inadequate state funding for education, and inflationary pressures on operational functions like a 13% increase in the transportation budget.
Wayzata Public Schools are confronting financial challenges and seeking ways to trim the budget. One contemplated idea was to change the block schedule that has been in place since the 1990’s. This initial plan, intended to save $1.2 million through staff cuts, faced opposition from the community in the form of a petition bearing over 2,600 signatures as well as feedback from stakeholders delivered directly to Wayzata School Board members through emails, phone calls, and text messages.
Wayzata Public Schools acquired an office building for administration for $7.5 million
The Wayzata School District elected to purchase a 31,780 square foot office building for $7.75 million near Carlson Parkway and Xemium Lane to house its administration. The decision was made in February of 2023, and the transaction closed near the end of the year, according to an eCRV filed with the State of Minnesota. Officials indicate existing bond proceeds were utilized to pay for the building, so no funds came from the general fund.
CCX Media’s Kevin Miller reports on the purchase of the office building.
Three Wayzata School Board Members terms expired
Three Wayzata School Board members—Cheryl Polzin, Bonita Lucky, and Linda Cohen—conclude their combined 44 years of service at Wayzata Public Schools in December. Polzin, who had served most recently as Treasurer, has been chosen for the Minnesota School Board Association. Linda Cohen, the longest-serving member in the history of Wayzata Schools, finished her service as the Vice-Chair. The new Board members—Sheila Prior (re-elected), Paras Bhende, Dan Ginestra, and Valentina Eyres—will start their term on January 9, 2024.
Wayzata Trojans
Wayzata Boys Basketball won Class AAAA State Title in overtime
Third state title for Wayzata Boys Basketball after defeating Park Center at Target Center. Junior Jackson McAndrew scored 8 of Wayzata’s 9 points in the overtime to secured the 75-71 victory at Target Center.
4th consecutive State Title achieved for Wayzata Girls Volleyball
University of Minnesota recruit Olivia Swenson, a senior outside hitter, led a balanced attack with 14 kills and junior middle hitter Katie Kelzenberg added 10. Senior setter Stella Swenson, Olivia’s twin sister and fellow Gophers recruit, ran the show with 32 assists as Wayzata Girls Volleyball defeated New Prague in 3 straight sets to win the 4th consecutive State Title.
In the battle of last undefeated teams in the big-school field, Wayzata needed just 2 minutes and 12 seconds into the game to grab the lead it wouldn’t lose. Junior forward Aiden Judickas had the honors by scoring on a header off a corner kick by senior midfielder Charlie Piller. Those two combined again midway through the first half on a similar scoring play to double the Trojans’ advantage.
Wayzata Boys and Girls Cross Country won State
The Wayzata boys cross country team secured their unprecedented third consecutive Class AAA state title, marking a historic achievement for the program. Will Weber led the Trojans, finishing third with a time of 15:21, contributing to the team’s overall score of 63. Meanwhile, the Wayzata girls cross country team clinched their second consecutive state championship, guided by Jazleen Malherek-Osorio, who finished third overall in 18:00.
The Wayzata boys tennis team completed an outstanding season with a 5-2 win over Rochester Mayo in the state class AA championship match. The Trojans swept the singles matches on the way to the win. Wayzata finished undefeated against Minnesota teams this spring, with their only loss to a team from Illinois. It’s the fifth state title in program history for the Trojans. Courtesy CCX Media.
Wayzata History
Wayzata Historical Society merged into Lake Minnetonka Historical Society
Last but not least, you simply cannot forget about the Wayzata Chamber‘s annual events including James J. Hill Days, which includes big-time music shows known as the Wayzata Beach Bash–produced by Rick Born. This year the headliners were Brad Paisley & Cody Jinks, who put on awesome shows.
Other great Chamber events in 2023 included: the Wayzata Chilly Open, the Wayzata Art Experience, Wayzata Boo Blast, and more.
Hosted by the Wayzata Chamber, James J. Hill Days is an annual celebration in Wayzata, bringing the community together for a lively event filled with festivities, entertainment, and local charm. 2023 was an amazing celebration of everything that is Wayzata.
Lake Minnetonka is backdrop for Guiness Book of Records
330 people floated on individual pool noodles in Brown’s Bay on Lake Minnetonka in September to set a Guiness World Record. The event was hosted by Project Got Your Back, a Minnesota Foundation that helps to support veterans.
Conclusion
As we wrap up the Wayzata Year in Review for 2023, we invite you to join the conversation! Share your thoughts, agreements, disagreements, or any highlights we might have missed. Your input adds depth to our community narrative. Let’s continue celebrating Wayzata! Comment below and be a part of the discussion. Oh, and by the way – Happy New Year!
Parking & density issues top Council concerns, redevelopment approval seems imminent
Lakewest Developmentowner Curt Fretham has been seeking to redevelop the former TCF headquarters lot for the past several years.
Each time the developer has been in front of the Wayzata Planning Commission & City Council, his proposals have been denied for various reasons.
Image courtesy Lakewest Development
Opposition in 2021 to the removal of the existing building was fierce with over 2,000 persons signing a petition supporting denial of any re- development in order to preserve the building.
Fretham’s latest plan was before the Wayzata City Council in late June and was again denied unanimously. The plan included 6 requests from the City including a rezoning to commercial use from the existing CUP.
The rationale behind the denial this time was related primarily to a plan to share parking stalls among condo owners and retail and office or daytime users.
However, the comments from the Council and community members seems to be shifting to- wards approval of a redevelopment of the site.
Becky Pierson, the President of the Wayzata Area Chamber of Commerce, indicated in public remarks that in reviewing the informa- tion in the application with the Chamber Board that, “…this is a large section of the west end that has been vacant for approximately 8 years 200 Lake Plan Denied, Again and probably 10 years by the time we get some approvals. We have had several developers that have tried to develop this very difficult lot, failed, and given up and it feels like this pro- posal has evolved to something that is accept- able…” Pierson continued, “I’m looking at this not at a detail level but from a very large corri- dor perspective, and the [Chamber] Board felt that… …[the City] should bring this applica- tion to approval and completion however you can do that.”
Council member Jeff Parkhill weighed in on the application, “I think you guys have nailed it on the look and feel, the design… …I think the scale of the property drives the parking needs, if it were smaller there would be less demand, so it’s kind of a self imposed problem for you guys.”
Council member Cathy Iverson stated, “Thank you for your resilience, because you have been after this for a while. I see you are not a quitter, and each time I think the appli- cation has gotten better. Thank you for that… …but I think the density is driving the parking issue.”
Council member Alex Plecash remarked, “Lots of pros to talk about tonight, but let me start with this: rezoning this makes sense to me. It absolutely should be rezoned in my opinion. Redevelopment is also very necessary for everyone involved. The big [issue] for me among all the parking issues is that residents Curt Fretham addresses the Wayzata City Council. Parking & density issues top Council concerns, redevelopment approval seems imminent would not have dedicated parking. If I was go- ing to buy a place that costs whatever it costs to live there, I would want to know that I had dedicated parking. There may be creative ways to fix that.”
Fretham responded, “I appreciate all the hard work and deliberation of the staff and the council and the outside third parties. The comp plan says to used a CUP for parking wherever possible, so we did that.”
Fretham will likely be back in front of the City with another application in the coming months.
Stay tuned to Wayzata.com for more information on this and other City business.
Neighborhood meeting scheduled for Monday, April 24th from 5:15 – 6:30pm at Wayzata City Hall
Lake West Development is proposing redevelopment at 200 East Lake Street. Courtesy Hobbs + Black Architecture.
Developer Curt Fretham and his company Lake West Development have submitted another application to redevelop the former TCF headquarters site located at 200 East Lake Street in Wayzata.
The public has been invited to a neighborhood meeting on Monday April 24th, from 5:15 – 6:30pm at City Hall.
Other anticipated dates include: Monday, May 1, 6:30pm – Planning Commission public hearing Monday, May 15, 6:30pm – Planning Commission consent agenda Tuesday, June 6, 7:00pm – City Council
Lake West Development is proposing redevelopment at 200 East Lake Street. Courtesy Hobbs + Black Architecture.Lake West Development is proposing redevelopment at 200 East Lake Street. Courtesy Hobbs + Black Architecture.Lake West Development is proposing redevelopment at 200 East Lake Street. Courtesy Hobbs + Black Architecture.
More information can be found on the City of Wayzata’s website including a full copy of the application.
Stay tuned to Wayzata.com for more real estate news.
The iconic building will be open to the public for this event, which includes heavy appetizers, a hosted bar, and live music from local sensation PowerTap and Chris Kroeze, who performed on the NBC hit show The Voice.
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The event is dedicated to building brighter features and supporting the local community. All proceeds from ticket sales, which are $100 per person, will go towards helping homelessness, housing, and food insecurity in the community through the charity IOCP.
“We are thrilled to open up this building to the community for this exciting event,” said Curt Frethem, CEO of Lake West Development. “Not only will attendees have the opportunity to enjoy a night of live music and delicious food, but they will also be making a direct impact on the lives of those in need in our community. We encourage everyone to come out and support this important cause.”
Don’t miss this can’t-miss community event! Purchase your tickets today and be a part of something truly special.
For more information and to purchase tickets, please visit IOCP.ORG/2023.
About Lake West Development
Lake West Development are innovative developers, approaching properties from an unconventional angle, looking to add value to the property and surrounding neighborhood. We make welcome improvements to the Minnesota communities in which we work and live.
About Interfaith Outreach and Community Partners (IOCP)
Interfaith Outreach and Community Partners (IOCP) mission is To strengthen our community by meeting basic needs and equipping individuals and families for ongoing stability.
The Wayzata Planning Commission recommended city staff to draft a denial of a proposed redevelopment concept for the TCF headquarters property on Lake Street on Monday.
This is the third time Lakewest Development has come before the commission to present plans for redeveloping the property at 200 E. Lake Street. In 2020, it presented plans to convert the existing TCF Bank into condominiums and construct new residential buildings.
TCF Building in Wayzata. Photo Dan Gustafson.
In 2021, it returned to the commission with a plan to demolish the TCF building and construct two new residential buildings.After the previous two denials, the developer took feedback from the commission as well as the public through a neighborhood meeting in January.
The new plan discussed Monday included an underground mechanical parking system, 32 condominiums and retail space. There would also be pocket parks on the property, and 25-foot facade breaks every 150 feet. The development would include two buildings, referred to as east and west buildings or ‘building A’ and ‘building B’.
Approval of the plan would have required a zoning amendment to the existing planned urban development to create a new PUD district, design standards deviations and a shoreland impact plan study.Consultant Eric Zweber said 66-percent of the parking under the east building is beneath groundwater elevation, as well as 17-percent of the west building’s parking.
More than 100 pages of public comments were received, with many of them noting concern over tearing down the TCF building, losing views of the lake, the proximity of the redevelopment near the BNSF railroad tracks and increases in traffic. There was also a petition which received more than 400 signatures from residents and 1100 signatures in total in about a week opposing the development plans.
200 Lake Street East – Proposed Site. Image courtesy Lakewest Development.
Curt Fretham, chief manager of Lakewest Development, said his development team has tried to be creative to meet requirements in the city’s design standards and comprehensive plan.
“We did that,” Fretham said of a number of changes his team was asked to make. “You asked us in initial meetings to reduce mass, provide more open space. You asked us in other words to make it smaller. You also asked us to increase density or in other words, make it bigger. We’ve been asked to do a lot of things. And we have been accepting and approving of those asks. All we really want to do is use our property in a reasonable manner.”
The applicant had several consultants discuss the concept further, addressing how the mechanical parking system works, the traffic impact of the new residential and commercial space and the architectural design.
“We’re frankly surprised, given all the consultants they brought tonight, they did not do a railroad study,” said Kendra Lindahl during the public forum. “It’s not that it could happen. It has happened.”
Lindahl referenced a train derailment which struck another site along the railroad corridor, though commissioner Peggy Douglas corrected that it did not happen on the site in question. The south side of the property is marked by the railroad tracks about 25-feet from the proposed building.
Lindahl asked what value this development would bring to the city, which Brad Hoyt echoed. Hoyt is the owner of Ventana Apartments.
“This building is only 35 years old. It’s not even depreciated yet,” he said. “My view is the project is already reasonably developed and should remain in its state.”
Lindsay Bashioum, who previously served on the planning commission, said the commission got it right the first two times it denied development plans.
“There’s no public benefit that isn’t already there,” Bashioum said.
The commission thanked the applicant for coming forward with a new concept for a third time, remarking on some of the things they liked about the new plans. They also said many of their concerns remain.
“This does not depict the charm of a lakeside community,” Douglas said. “I’m worried about the precedent for future development.”
“I think it’s too big to be charming,” Commissioner Jeff Parkhill added.
Commissioner Ken Sorenson motioned to direct staff to draft a denial of application. Commissioner Jennifer Severson seconded and the commission voted unanimously in favor of denial.
The Wayzata Planning Commission will review a proposed project thatwould convert the existing former TCF Headquarters Building at 200 East Lake Street in Wayzata to a 10-unit condominium building.
Courtesy ESG Architecture & Design
Two new structures would be added to east and west of the current building. The proposed eastern building would include 10 condominiums and the proposed western building would include 18 town homes.
The entire project would stretch from Barry Avenue to Ferndale Road along the south side of Lake Street.
Small “pocket parks” would be developed on the far east and west ends of the property.
The current structure was build in 1990. It served as the corporate office for TCF National Bank. TCF employees moved to other offices and the building was listed for sale.
The existing building would not change. It has a legal non-conforming height of 52 feet to the top of the gable and 60 feet to the top of the spire..
Courtesy ESG Architecture & Design
Under the proposal, the property is envisioned as entirely residential. No commercial or other office uses are planned.
One question the Planning Commission will consider is whether an all-residential use of the property be appropriate for the site.
Courtesy ESG Architecture & Design
The Planning Commission could direct staff to prepare a draft Planning Commission Report and Recommendation.
This would then be reviewed at the following Planning Commission meeting.
Courtesy ESG Architecture & Design
Minnetonka-basedLake West Development, LLC and Minneapolis-based ESG Architects are working on the project. Lake West Development has a signed purchase agreement for the property that would allow it to redevelop the property as it proposes.
The City of Wayzata only allows buildings in a Planned Unit Development (PUD) District to be 35 feet tall. The building height in this proposal complies with the 35-foot rule.
The TCF Headquarters building located at 200 Lake Street East between Barry Avenue and Ferndale Road has been acquired by a new owner, according to the City of Wayzata.
According to city officials, the new owner is interested in redeveloping the parking lots on either side of the building.
The owner intends to convert the existing office building into condos.
The city states that there is not currently a development application.
The building was constructed in 1990.
A neighborhood listening session is scheduled for Thursday August 13 at 7 p.m.
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