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St. Olaf College
Planning and Feasibility Study
Northfield, Minnesota
Boldt Contact:
Paula Mitchell, AIA
Jim Kleinfeldt
Project Value:
Concept
Completion Date:
2007 |
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Project Description
St. Olaf College owns 500 acres adjacent to their campus in Northfield, Minnesota. The land is situated in a developing area of the city and is surrounded by the new Northfield Hospital and the college campus. Over the years the college has been approached by numerous developers and city leaders regarding developing the parcel. St. Olaf engaged BCS to prepare a planning and feasibility study for the property’s development. The study will assist the college in identifying the highest and best uses for the property, quantifying the value of the land parcels, and developing a conceptual long-range master plan.
The Boldt Company has served St. Olaf for many years. Oscar J. Boldt Construction has either completed or is currently constructing more than $125 million in projects on the St. Olaf campus, including Buntrock Commons, The Tostrud Center (a field house and fitness center), the Dittmann Center for Art and Dance, and the new $65 million Science Center.
Unique Challenges
The property’s size and the potential relocation of a major thoroughfare through the parcel greatly increased the number of scenarios to be considered. In preparing the study, BCS has consulted with the Minnesota Department of Transportation, the City of Northfield, civic and business leaders in the community, and Northfield Hospital, among others, to ascertain the property’s true potential. Site constraints and traffic patterns, in particular the connections to the main campus, have also been taken into account.
Solutions
The conceptual master plan will include potential sale prices for development parcels and cost estimates for individual development projects. The potential returns associated with holding and/or developing the property will then be compared to the college’s historical investment returns to determine the optimal use of capital. The plan will balance St. Olaf’s financial goals with sound planning concepts, taking into consideration environmental factors, economic development, and the overall campus plan.
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