In a move to fill what developers say is a still-hungry market for housing for independent seniors in Bloomington, United Properties will start construction on the city's third Applewood Pointe co-op in the spring.
Last week, the Bloomington City Council approved the application to divide property for the 77-unit co-op on land owned by the adjacent Mount Hope Lutheran Church on Old Shakopee Road at Beard Avenue. The council had already approved the project's development plan.
The new development is called Applewood Pointe Valley West. There are seven Applewood Pointes in Bloomington, Roseville, New Brighton, Woodbury and Maple Grove, with three more planned for Burnsville, Shoreview and Champlin.
Mark Nelson, a United Properties vice president of development, said his firm believes there is still untapped demand among active seniors for co-op living. The ownership units are aimed at people age 62 and older.
Longtime residents tend to want to stay in their community even as they make transitions in housing, he said. Among people who have reserved units at the Valley West location, 70 percent are Bloomington residents.
"These are folks that have been in Bloomington for decades, raised families there and have connections with friends and church," Nelson said. "They probably won't sell their home unless there is something like this."
The Applewood Pointe developments have a similar outward appearance and share amenities like a library, sun room, woodworking area and game room. The Valley West location will have some units that are larger than average, ranging up to almost 1,900 square feet. Parking will be underground, and the building will stretch from north to south along Beard Avenue, where the main entrance will be.
Though the units are single-level, the building will have staggered heights, rising from two stories nearest the single-family homes in the neighborhood to four stories further away.
