Real estate and construction firm M.A. Mortenson wants to bring another hotel to downtown Minneapolis.
Mortenson plans to develop an AC Hotels by Marriott at 401 Hennepin Av. S., across 4th Street from the Minneapolis Central Library. The nine-story, 244-room hotel will cost $48 million.
Located near the light-rail line, Target Field and Target Center, as well as both the central business district and the burgeoning North Loop neighborhood, the project would fill in another surface parking lot in the hot downtown real estate market.
The company’s plan for the hotel requires city approval. Mortenson is scheduled to make its first formal proposal at a meeting of the Minneapolis Planning Commission next Thursday. A public review is likely in January.