Thor CEO Ravi Norman

 

Thor Cos. and partners will inaugurate a new headquarters and Regional Acceleration Center (RAC) at Penn and Plymouth avenues N. on Friday afternoon.

Hennepin County, which is moving some offices into the complex, is the single-largest investor.

“We want to play a role, through the building and our company, in helping speed the process of economic and community revitalization on the North Side,” said Thor CEO Ravi Norman. “This is a great community — with great neighborhoods and great opportunities for businesses.”

The $36 million-plus, 92,000-square-foot headquarters and small-business center is part of a $100 million public-private redevelopment of three corners of the Penn-Plymouth intersection, including Hennepin County’s expanding NorthPoint Health & Wellness Center and a parking ramp.

The RAC also will provide a new home MEDA, the nonprofit minority business counselor and financier, and several small businesses, including a restaurant. The fully leased complex and related construction is the largest North Side development in 50 years, the partners said.

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