Latest news (from Star Tribune) indicates it was not a robbery at all but rather the suspect calling police in an attempt to lure them down there and attack them:

Palmer released new information Wednesday afternoon about the incident, saying it was not a robbery attempt that led up to the incident. He said the suspect called 911 to lure officers to the area in an attempt to harm them. Palmer also said the female officer was released from HCMC Wednesday, but the suspect is still at the hospital. Palmer said the suspect tried to stab both officers during the incident.

I sincerely hope the officer gets better soon.
Crime has been creeping south for many years.With resources being diverted to north Minneapolis, and Rybak cutting the budget, SW Minneapolis is slowly going in the toilet. When you call for the police you have to wait 20 minutes to an hour for a response. And then the police don't even follow up on the report you make.
No wonder people move to the suburbs - streets get plowed faster, no potholes, less crime, faster police response, and when you need to call someone at the city you can talk to a "real" person, not some ignorant 311 operator who reads from a info binder and can't help solve your problem. Plus the suburbs have Mayors and a city council who care more about residents than stadiums and convention centers.