MINNEAPOLIS (WCCO) — Nye’s Polonaise Room, a Northeast Minneapolis institution, recently announced it would be closing its doors after 65 years.

Now, details of the plans for the site are being released. According to a local developer, Nye’s owners are partnering with them to possibly turn the iconic space into a high-rise residential building, with some commercial space underneath.

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The developers said it’s unlikely the existing buildings would be incorporated, due to their condition, though some sort of homage to Nye’s could still happen.

The new development, whatever it may be, still faces some hurdles. Nye’s is within the St. Anthony Falls Historic District, and any changes would be subject to review.

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Developers and owners plan to meet with city officials, neighbors and interested parties to present plans and get feedback. Redevelopment of the property is still roughly a year away.

Ever since news spread that the Minneapolis institution was closing, residents have taken to social media to try and save Nye’s.

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The hashtag #savenyes was trending earlier, just as news hit that plans for the space seem to be moving forward.