Hyde Development Plans Twin Lakes Technology Center in Roseville
The City of Roseville’s ongoing Twin Lakes redevelopment is entering its next major phase with Hyde Development’s plan to build a new 152,250-square-foot industrial and technology building on a long-vacant site.
From Truck Terminals to Technology Hub
Located at 1945 Twin Lakes Parkway, the proposed Twin Lakes Technology Center will replace a former truck terminal site that’s sat empty since 2013. The site is part of the larger 300-acre Twin Lakes area, a once heavily industrial corridor now transitioning into a mixed-use neighborhood of retail, housing, and modern business campuses.
Over the past decade, Twin Lakes has welcomed big names like Starbucks, Taco Bell, Tsunami Car Wash, McGough Construction, and Cibus Inc. Now, Hyde Development aims to attract tech, medical, and light-manufacturing users to the area’s final stretch of open land.
Tackling Contaminated Soil with Major Investment
One of the main reasons this parcel has remained untouched for years is soil contamination from its industrial past. Hyde Development’s founder and CEO, Paul Hyde, estimates the cleanup will cost roughly $7 million to remediate petroleum and solvent pollutants.
To support the effort, the Minnesota Department of Employment and Economic Development (DEED) has awarded $373,000 to help fund demolition and public infrastructure upgrades. Additional state and county grants are being pursued to cover remaining cleanup costs.
Modern Design and Target Tenants
Once approvals and grants are secured, construction could begin by spring 2026, with completion expected in October 2026. Designed by Pope Design Group, the facility will feature:
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15 dock-high loading doors
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2 drive-in doors
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320 parking stalls
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28-foot clear height ceilings
The building is being marketed by CBRE’s Matt Oelschlager and Mike Bowen, and will be developed in partnership with Mortenson’s real estate equity group.
What It Means for Roseville’s Growth
For Roseville, this marks another win in the city’s long-term goal to repurpose former industrial land into a thriving employment district. The Twin Lakes redevelopment has turned what was once a cluster of aging truck terminals into a vibrant corridor supporting both business and community life.
As Hyde’s project moves forward, residents and business owners alike are watching to see what kind of tenants will fill this high-visibility site near Interstate 35W.
If you’re considering moving your business or investing in Twin Cities real estate, now’s the time to start exploring opportunities in Roseville and surrounding east-metro markets.
I’m Darin Bjerknes with REAL Broker — helping you stay ahead of what’s next in Minnesota real estate.
