Penn-Glen Assembly
Penn-Glen Assembly
Property Address(es): 300 Penn Ave N, 306 Penn Ave N, 2117 Glenwood Ave, 2125 Glenwood Ave
Property Name: Penn-Glen Assembly
Partners Names: City of Minneapolis owns an adjacent parcel and is holding it for the future development
Project Overview
The Penn-Glen Assembly demonstrates how strategic land banking can shape the future of a neighborhood before redevelopment begins. Over three years, Land Bank Twin Cities assembled six parcels at the intersection of Penn and Glenwood into a 1.36-acre redevelopment site, creating the foundation for a future mixed-use project that could bring affordable housing and a neighborhood grocery store to an area long identified as a food desert. For years, residents voiced the need for quality neighborhood investment. The former Pennwood Market had become associated with persistent drug activity, and a homicide at the property underscored the urgent need for change.
Land Bank Twin Cities Role
Land Bank Twin Cities strategically acquired, assembled, and continues to steward the site for future mission-driven redevelopment. When community members learned the troubled operator of Pennwood Market intended to purchase the property and continue operating the business, they alerted Land Bank. Acting quickly, we secured the property through an expedited acquisition, preventing the sale and creating an opportunity for long-term community reinvestment instead.
While the original development partner ultimately stepped away due to competing project priorities, the vision for the site remains unchanged. Because the land is securely held by Land Bank Twin Cities, the opportunity has been preserved while we continue working with public and community partners to identify the right development team to bring the neighborhood's vision for affordable housing and a grocery store to life.
Partner Role
The City of Minneapolis is preserving an adjacent parcel to support the future redevelopment of the full site, strengthening the long-term vision for the corridor.
Outcome
What was once a site associated with instability is now positioned for community-driven redevelopment. The Penn-Glen Assembly preserves the opportunity to deliver affordable housing, neighborhood-serving retail, and a potential grocery store while demonstrating how proactive land banking can interrupt harmful market dynamics and create space for the investments communities have long requested.
