A local management company has been appointed to oversee the former Dayton’s building, which has been under redevelopment the past few years.
MINNEAPOLIS — The redevelopment of the historic Dayton’s building faces more uncertainty after a judge appointed an outside “receiver” to oversee and manage the property, according to court documents filed last month.
After operating as a department store for more than a century, the building on Nicollet Mall was sold in 2017 to New York-based 601W Companies, which spearheaded an endeavor known as “The Dayton’s Project” that opened in 2021. Now, court records reveal that a lender has accused the current owner of missing mortgage payments, leading the judge to select Minnesota-based Lighthouse Management Group as the receiver for the building.
Lighthouse Management declined to comment, but according to court documents, the company has the authority to “collect, control, manage, conserve and protect” the property and even “market the Receivership Property …