U.S. Bank will rebuild two of its three Minneapolis branches destroyed in riots in late May at their current locations, and it will donate land at the third site for a nonprofit organization to redevelop while building a new branch nearby.
The company had previously said it would rebuild the three locations, but on Friday it provided more details and expectations for completing the work after weeks of meetings with officials, neighbors, civic groups and contractors.
Rebuilt or new branches will be open by late next year, and U.S. Bank said it will hire minority-owned contractors for all the work.
The branches at 919 E. Lake, 2800 E. Lake and on W. Broadway were severely damaged in the riots that emerged after protests over the Minneapolis police killing of George Floyd in late May.
Since then, the company has used a mobile-banking unit to provide in-person services a few days a week at the 2800 E. Lake and W. Broadway locations.
The site at 919 E. Lake is no longer structurally sound and will soon be demolished. U.S. Bank said it expects to break ground on a new building next spring and to have the branch opened next fall.
At 2800 E. Lake, company executives said they heard from community leaders that a mixed-use building would work better. U.S. Bank decided to donate its land and will help a nonprofit organization redevelop it, but said that such a project will likely take until 2022 or 2023 to complete.
"We believe that a mixed-use development at 2800 E. Lake St. makes sense because of the proximity to both retail services and light rail transit," Jeff Shelman, a company spokesman, said via e-mail.
The company bought another site at S. 36th Avenue and Lake Street, where it will build a branch with a target completion date of next August.
On W. Broadway in north Minneapolis, the U.S. Bank branch was not permanently damaged. The firm said it expects its reconstruction to be finished by early summer 2021.
