Luxury apartments to take the place of former charter school in St. Paul

Developers recently broke ground on the Lofts R7, located on Robert and 7th streets, a planned 48-unit, market-rate apartment complex.

The building had sat vacant for a couple of years after the Urban Academy Charter School moved out.

Renovations include adding another two floors atop the three-story building.

"We feel like that the prospective renter market will respond very positively just because of the walkability and connectivity," said Brent Wittenberg, vice president of Marquette Advisors, which is serving as the project manager.

The property is just a couple blocks from the Lunds & Byerlys grocery store, popular retail businesses at the Rossmor and highway ramps.

Hawaii-based property owner Liberty Square LLC had explored numerous uses for the property and with the help of Marquette Advisors decided to convert the building into a residential property, Wittenberg said.

Unlike many other recent residential projects, the Lofts R7 will not include commercial space on the first floor.

On the top floor, there is planned to be a "sky lounge" for residents.

The Lofts R7 is expected to open in the spring of 2019.

The Vicksburg Village Apartments in Plymouth has sold for about $66.2 million.

The 334-unit apartment complex is located off Rockford Road and Vicksburg Lane.

According to an electronic certificate of real estate value, an entity associated with New York-based financial services company TIAA bought the property from AEW LT Vicksburg LLC.