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New Carlson building construction begins

After sitting empty for eight years, the lot at the corner of Fourth and Sibley streets is being dug up in preparation for a new office building, which is expected to be completed this fall. (Star Gazette photo by Katrina Styx)

Carlson Capital Management (CCM), a Minnesota-based investment advisory and integrated wealth management firm began construction Tuesday on a new office building at 118 E. Fourth St. in downtown Hastings.

Carlson Capital Management expects to occupy its new 3,812-square-foot building by November of this year. The building's classic design takes the historical location into strong consideration and incorporates distinct architectural elements to ensure that it complements adjacent buildings, such as Hastings City Hall (the former Dakota County Courthouse) and historic Sibley Street.

Carlson Capital Management recently purchased the property from the Hastings Economic Development and Redevelopment Authority, which obtained the lot in 2003 and razed a blighted house there. It has been vacant ever since.

City of Hastings Mayor, Paul Hicks, expressed enthusiasm for the project.

"We are excited about Carlson Capital Management's move to historic downtown Hastings," he said. "We see it as a really positive addition to the neighborhood, and would like to compliment Carlson Capital Management and the contractor for the efforts they put forth with a terrific site plan. The plan was designed to preserve the mature trees on the lot and the whole exterior of the building uses class one materials. We are pleased to see that kind of investment."

Jeff Carlson, long-time Hastings resident, is co-founder and principal of the 25-person advisory firm. The firm has had a presence in Hastings for 25 years, with a current office on Margo Avenue north of Hastings.

"We are glad to be a part of positive growth and development in the downtown district," Carlson said Tuesday. "The new building also marks two key events in our history - serving clients for 25 years and approaching the pivotal milestone of overseeing $1 billion dollars in assets under management."

"This public/private partnership spurring development in a historically sensitive area is a real win situation for all involved," Hicks said. "The city of Hastings retains a thriving business, positioned for growth, that will remain active as a leader in the Hastings community; Carlson Capital Management gains a more prominent presence, and the Hastings community benefits from the business and visitors the firm brings to the city." Carlson's firm has a history of strong community involvement.

In addition to Hastings, the firm has offices in Northfield, Bloomington and Rochester. Carlson Capital Management is a registered investment advisory firm and serves 500 clients around the country with comprehensive wealth management services.

For more information about Carlson Capital Management, visit or call 651-437-2360.

Carlson Capital Management offers clients a unique experience by bringing together in one place all of the key disciplines of investment, estate, tax, insurance, retirement and philanthropic planning. A fee-based structure guarantees independent insight and an ethical, transparent relationship. For more than 25 years, Carlson Capital Management has been a trusted adviser for clients seeking competent advice and management of their financial lives.