On 15 September 2008, it was announced that Minneapolis-based Target Corporation paid for naming rights to the new stadium. The nation's second-largest retailer's name also adorns Target Center, home to the NBA's Minnesota Timberwolves, located just to the southeast.
Thousands of parking spaces are readily available in multiple multi-level municipal parking ramps which stand above Interstate 394, as it begins its trek to the western suburbs.
The county commissioners voted to seize the property by eminent domain on April 9, 2007, with the price to be negotiated at a later date and the Twins responsible for additional land acquisition costs above those specified in the legislation passed the year before.
It stands just northwest of the Target Center, near the Hennepin County Waste-to-Energy Center.
Construction was delayed in early 2007 because of the inability of Hennepin County and the site owners to agree on a fair sales price.
On the same day, another current user of the Metrodome, the University of Minnesota Golden Gophers Football team, was given final House and Senate approval for a financing package to construct a new home called TCF Bank Stadium.
Mortenson Construction completed work approximately 2 months ahead of schedule, and handed keys to the Minnesota Twins organization on4 January 2010.
Originally scheduled for August 2, 2007, the official groundbreaking ceremony for the new ballpark was postponed due to the collapse of the Old I-35W/Mississippi River Bridge the day before.
The inaugural regular season game on April 12, 2010 resulted in a 5-2 Twins victory over the Boston Red Sox.
A $522 million financing package for construction was approved by the Minnesota House and Senate on May 20-21, 2006. Much of the revenue comes from a 0.15 percent sales tax in Hennepin County; a controversial measure that was implemented without a voter referendum.
The final price of $282 million was announced on October 15, 2007. Twins owner Carl Pohlad agreed to provide an additional $15 million for public infrastructure around the new ballpark.