The Minneapolis Heritage Preservation Commission last week approved a mixed-use development that is planned for the North Loop and will include offices, a parking garage and "micro" apartments.
United Properties plans to erect a 10-story office structure and an apartment building that would wrap around a separate seven-level parking garage atop a surface lot in the middle of the block at 729 Washington Av. N. and 728 N. Third St.
The commercial building is planned to have ground-floor retail as well as offices. The other structure will have retail and 44 apartments of about 400 square feet each.
During the fall, developers changed the design by reducing the building's height by one floor and adding a rooftop deck for residents.
Developers were awarded a certificate of appropriateness at the Dec. 13 meeting after commissioners voted 4-1 in favor. It still needs approval by the city's planning commission.
Some residents had opposed the development and said it did not meet historic guidelines. Last month, the Neighbors for North Loop Livability collected more than 1,000 online signatures from people who opposed the height and scale of the project.
Greco snags another North Loop site
Local developer Greco has swept up another North Loop property.
Greco paid nearly $2.5 million for an industrial building and parking lot at 715 N. 2nd St., according to an electronic certificate of real estate value made available last week. The site's seller was Precision Associates Holdings.
"We really bought it for the land. … The neighborhood is obviously very popular, very successful. It's only getting better," said Arnie Gregory, Greco's president and owner.
Greco will have time to put together a plan for the site since the 77-stall parking lot is under contract until 2019.
Greco's other North Loop properties include the ElseWarehouse luxury apartments, Heritage Landing apartments and the Copham. In addition, Greco and Opus Group are working on a 144-unit apartment building at the former ABC Electronics site.
