Block E rechristened as Mayo Clinic Square

This is the Mayo Clinic's vision for the property formerly known as Block E.

This is the Mayo Clinic's vision for the property formerly known as Block E.

Block E is officially no more. At a news conference today, Minneapolis's saddest property was officially renamed Mayo Clinic Square.

The name isn't the only thing that's changing. As we told you about a few months back, it's about to be redeveloped into a Timberwolves and Lynx practice facility. Today, the Mayo Clinic announced its partnership in the project, which will also feature a Mayo sports medicine clinic. (There will also be some street- and skyway-level commercial space.)

"With Mayo Clinic's sports medicine center located within our training facility, our players will have access to cutting edge medical technology within the most respected and recognized medical system in the world," Timberwolves and Lynx CEO Rob Moor said in a statement. "It will be a state of the art training center that will allow us to develop our players to their maximum potential, giving us a competitive edge on the court and in recruiting and retaining top talent in Minnesota."

"Most NBA teams build their practice facilities in non-descript office parks, but we are putting our new training center in the heart of a thriving downtown, providing incredible access to our fans," Moor continued.

No public money will be involved in the roughly $50 million redevelopment, which will take place at about the same time as the adjacent Target Center is undergoing a $100 million renovation of its own. Officials say they hope work on Mayo Clinic Square will be complete by the end of next year.

Just before the press conference, Kevin Love took to Twitter to express his enthusiasm for Mayo Clinic Square:
-- Kevin Love (@kevinlove) February 4, 2014 A sign he plans to stay in Minnesota for the long haul? Timberwolves fans can only hope.

-- Follow Aaron Rupar on Twitter at @atrupar. Got a tip? Drop him a line at [email protected]