Plans for a 40-story apartment tower in downtown Minneapolis have ended before developers were able to build momentum.

Twin Cities developers Curt Gunsbury of Solhem Cos. and Robb Miller of TE Miller proposed the “Residences at 33 5th Street” for a narrow piece of land between Renaissance Square and the 15 Building owned by real estate investment firm R2 Cos.

They told city staff they decided to stop the project because of costs and site restraints, said city spokeswoman Rose Lindsay.

The project was to be discussed last week during a Minneapolis planning commission committee meeting. Miller said on Monday he had no comment on the project, which would have had 261 units and 10 levels of parking.

Two smaller office buildings would have had to be demolished to make way for the building.

Nicole Norfleet