(MINNEAPOLIS) The City of Minneapolis, AEG, and the Minnesota Timberwolves and Lynx announced today that the organizations have signed a renovation development agreement, which is the next necessary step in moving the Target Center renovation project forward.
With the signed agreement, the renovation team is able to proceed into more detailed design drawings, bringing them one step closer to establishing the Guaranteed Maximum Price (GMP) that is needed before construction can begin. Construction is expected to begin during the Timberwolves' 2015-16 season and wrap up in the 2016-17 season.
Target Center will undergo a $128.