Business & Economy

Developer 601W Cos. regained control of the Dayton's Project in downtown Minneapolis after attorneys asked to discharge a court-appointed receiver and secured a mortgage amendment extending the loan to June 1, 2029. Minneapolis / St. Paul Business Journal

SPS Commerce has reportedly hired Morgan Stanley to explore a potential sale amid activist pressure and a steep share-price decline. Minneapolis / St. Paul Business Journal

Bluff Street Development proposes a 104-unit affordable senior housing building at 600 Main St. SE near the Stone Arch Bridge in Minneapolis. Minneapolis / St. Paul Business Journal

The St. Paul school board approved a package of preliminary budget cuts to begin closing a $14.3 million deficit. FOX 9

The METRO Blue Line light-rail extension's projected cost rose to $3.58 billion, and a Minnesota lawmaker urged officials to "scrap this next boondoggle" after the latest budget increase. AlphaNews

Best Buy Chief Financial Officer Matt Bilunas will step down effective July 31, 2026, after seven years in the role at the Richfield-based retailer. Minneapolis / St. Paul Business Journal

Concessions workers staged a walkout at Target Field during at least one Minnesota Twins-Los Angeles Dodgers game on Monday, June 22, 2026, disrupting food and drink service inside the stadium. Minnesotareformer

Parents for Good presented a petition Monday with 3,000-plus signatures asking Anoka-Hennepin to put a levy on this fall's ballot that would raise homeowners' taxes about $30 per month. FOX 9

Scammers are calling Minnesota DoorDash drivers, posing as company support, and steering them through app steps that give the scammers access to drivers' accounts and hundreds of dollars in earnings. FOX 9

A Minnesota woman was charged with stealing multiple identities and posing as a therapist to bill the state's Medicaid program for therapy services that were never provided. FOX 9

Novarum Development Partners said it will convert the 25-acre former Wells Fargo Home Mortgage campus at 2701 Wells Fargo Way in south Minneapolis into "Iconic Plaza," a mixed-use project that will add roughly 1,000 homes. Minneapolis / St. Paul Business Journal

Twin Cities developer JO Cos. has proposed a $28.5 million, 52-unit affordable housing project called Adora Apartments on three city-owned parcels in Bloomington. Minneapolis / St. Paul Business Journal

LivCor agreed to pay $7 million to settle an illegal rent-fixing lawsuit tied to a multistate probe of algorithmic pricing, resolving claims its leasing practices inflated rents in markets including the Twin Cities. FOX 9

Minneapolis-based Deluxe Corp. agreed to buy fintech firm Celero Commerce for $625 million, with closing targeted for the third quarter of 2026 in a deal to expand its payments and data operations. Minneapolis / St. Paul Business Journal

Hennepin County has dedicated $480,000 to the Woodson, an affordable housing project planned at 3501 Hiawatha Ave on the former ADM mill site in Minneapolis. Minneapolis / St. Paul Business Journal