Sherman Associates is moving forward with plans to build a pair of apartment buildings across the Mississippi River from downtown St. Paul next to West Side Flats, which the company completed last year. The new buildings will bring an additional 266 apartments to the area, including 184 market-rate units in one building and 82 units - most of them for lower-income renters - in a second building. Sherman's 178-unit West Side Flats project has been 95 percent occupied over the past several months, emboldening the company to continue building in the area, which is near the intersection of Fillmore Avenue and Livingston Avenue, according to Tony Kuechle, a senior vice president of development for Sherman.
Kuechle said the company hopes to begin construction in early spring of 2016. The buildings will include some commercial space, including room for a 5,000 square foot restaurant with outdoor patio on the river and facing downtown. "[We're] talking with a couple of operators but nothing signed," Kuechle said.
The company recently completed a rental conversion project and owns several buildings in the city, but isn't pursuing any other projects in the area at the moment. The company has several housing projects underway in Minneapolis, including The Encore luxury rentals near Gold Medal Park in the Mill District and the Thresher Square block near the new Vikings stadium, which will include new apartments, a grocery store and a hotel in the historic Thresher Square office building.
Two more downtown Minnneapolis residential towers will present revised design plans to a planning commission committee next week.
Opus Group, based in Minnetonka, is proposing a 30-story tower on the surface parking lot currently called the Ritz Block, located on the north end of Nicollet Mall. It would be the first of two towers and completed in separate phases.
Michigan-based Village Green has changed the exterior materials since the developer's first design renderings. It is proposing an 18-story tower that would salvage the historic Handicraft Guild Building near the corner of Marquette Avenue and 10th Street.
The Minneapolis Planning Commission Committee of the Whole will discuss both plans at its meeting on April 30. A city staff report mentions several concerns over the number of above-ground parking stalls in Opus' plans. Floors 2 through 5 would be a parking ramp with 369 stalls, which goes against the City of Minneapolis' efforts to minimize the number of downtown parking spaces.
Below are the latest images.
10th and Marquette:
Ryan Cos. and Shorenstein are working together to build a boutique apartment building with about 165 units on a surface lot at 100 Hennepin Avenue in downtown Minneapolis.
San Francisco-based Shorenstein, a real estate investment firm, will be the owner and Ryan will provide construction and development services.
This site is sandwiched between the 222 Hennepin Whole Foods/luxury apartment project, which was developed by Ryan and recently sold to a Washington-based investor, and the Federal Reserve Bank.
The project will transform the block, which has a concrete parking garage that sits off center on the block, and a large surface lot. It'll have a low-rise apartment building that will face Hennepin Avenue and be slightly taller than the parking ramp and a narrow strip of land on the opposite side of the parking ramp along First Avenue will get a separate smaller building with several side-by-side walk-up units with tuck-under garages. There will also be retail along Hennepin Avenue at the corners of First and Second Avenues.
Renderings haven't been made public yet, Ryan presented its plans to a neighborhood group and will begin the municipal approval process immediately in hopes of starting construction before end of the year, according to Tony Barranco, Ryan's vice president of development, office and mixed-use in its north central region. Construction is expected to be completed in spring 2017 with average rents in the low $2 per square-foot range.
The sure signs of spring have arrived: birds chirping, grass greening and waves of homebuyers filling up the market.
To satisfy the inquiring minds of hopeful buyers and home-improvement aficionados, the Minneapolis and St. Paul Home Tour will open the doors to more than 50 homes across the two cities this weekend, with an emphasis on historic homes, creative renovations, remodeling and urban landscaping.
Added this year are two examples of homes rehabbed by the Inspiring Communities program, which was established by the Saint Paul Housing and Redevelopment Authority in 2013. The program focuses on rehabbing clusters of homes located in neighborhoods disproportionately impacted by foreclosure and high vacancy rates.
The two Inspiring Communities homes are located across the street from one another at 689 and 688 East 4th Street.
The tour, now in its 28th year, was started by the City of Minneapolis to encourage people to not flee the city for suburban living. The City of St. Paul joined the cause and the tour the following year.
The home tour hours are 10 a.m. to 5 p.m. on Saturday and 1 p.m. to 5 p.m. on Sunday.
Dougherty Funding has closed on a $10.3 million construction loan to build the six-story, 45-unit Laguna Apartments at the corner of Lagoon Avenue and Irving Avenue in the Uptown neighborhood of Minneapolis. The project is owned by Laguna Property Investors LLC and is being developed by Twin Cities-based CPM Development. Construction will start next month in May and is expected to be completed in a year.
Bloomington-based Doran Construction will build Bluestone Flats, a 142-unit luxury apartment building that's part of the BlueStone Commons mixed-use development near the UMD campus. Minnesota Summit Management is the owner and developer of the project, which will have 700 units of market, student, and mixed-use housing in several buildings called BlueStone, Summit Ridge, Boulder Ridge, and Campus Park. Mark Lambert, principal of Summit Management, said the project will cater to a diverse group of residents from empty nesters couples to recent graduates. The latest building will have studio, one- and two-bedroom units that include balconies, six-foot windows, granite countertops, custom wood cabinets, stainless steel appliances, plank flooring and pendant lighting. The Shops at BlueStone is the retail component of the project and includes a variety of service and retail businesses ranging from Tavern on the Hil to Waxing the City. A groundbreaking ceremony for BlueStone Flats will happen in May.