Saturday, May 26, 2007

Aldi's New Uptown Store Set to Open Tuesday

Aldi Foods will open a new Uptown store, at 4500 N. Broadway, next week. The Grand Opening will be on Tuesday, May 29.

The attractive new facility is located next door to the old cinderblock store at 4450 N. Broadway. Minneapolis-based Target Stores will be building a new store on this site, as well as two apartment buildings, one with 80 units of affordable housing for families and one with 98 units of affordable housing for the elderly.

This store is located on the Wilson Yards site, in the Wilson Yards TIF district. I like the building, and anyone could be happy to see this blighted site spruced up with well-designed retail buildings, but you have to wonder just how much our property taxes will be jacked to pay for the "economic development" whose profits will accrue to the ownerships of the businesses financed thereby while the taxpayers bear a substantial portion of the risk; and how many retail outlets and subsidized apartment buildings the taxpayers can carry, and still carry the fire and police departments and other necessary civic services.

More on the latest Edgewater TIF to follow.

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