The Minnesota Department of Employment and Economic Development has awarded a redevelopment grant for the rehab at the site of a former dry cleaner in downtown Mankato. The $67,115 grant will help pay for asbestos removal at the former Stephen’s Cleaners, as well as cover the demolition and infrastructure costs on the .31-acre site.
Old Town Development, Inc. is planning to redevelop the site into a three-story, mixed-use building with nearly 3,000 square feet of commercial space and 13 new apartments.
North Mankato State Senator Nick Frentz said, “Everybody who is proud of our local economy should see that this is great news for Mankato.
He added, “Not only will this redevelopment project provide more housing and commercial space, but the project is also expected to create a number of new jobs, retain several existing jobs, and increase our tax base by $26,500.”
Earlier this year DEED granted just over $115,000 to clean up pollution at the site.