Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Kristen Leigh Painter.

Doran chosen as builder for North Loop apartment community

Posted by: Janet Moore Updated: May 30, 2013 - 11:34 AM

It's hard to keep all the residential projects straight in the North Loop of Minneapolis. Among them: Junction Flats, a "transit-oriented" 182-unit luxury apartment complex planned for Fifth Street just north of Target Field and near the Interchange transit hub that is currently under construction.

On Thursday, Doran Construction (an arm of Bloomington-based Doran Cos.) said it has been chosen by the Dallas-based developer to build the six-story building.

Trammel Crow subsidiary High Street Residential is developing the project, which should begin renting units in the summer of 2014.

“With the start of Junction Flats we now have over 1,000 units of multi-family housing under construction for mostly third-party developers in Upper Midwest cities, including Bismarck, Duluth, and the Twin Cities,.” said Ken Braun, vice president of Doran's construction company, in a statement.

Kelly Doran, the Doran Cos.owner and principal said “while the multi-family housing boom is providing increased opportunity, as the economy improves we are seeing more activity from user-oriented retail operators. Fortunately, even in the downturn we were growing, but now we are seeing an accelerated rate of growth.”

Janet Moore covers commercial real estate for the Star Tribune.

 

 

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