Developers want to build a 40-story apartment tower close to Nicollet Mall in downtown Minneapolis.

The project, which in planning documents is referred to as the “Residences at 33 5th Street,” would be built on S. 5th Street sandwiched on a small piece of land between Renaissance Square and the 15 Building.

It would be a little taller than the Foshay Tower, as well as other downtown structures such as the CenturyLink Building and LaSalle Plaza.

The tower would have 261 units and would be connected to the skyway, according to the planning documents.

Residents would have access to common areas with a deck, fitness rooms, bike storage and repair space and a dog wash. Most of those would be on two floors on top of the parking ramp.

There would be nine levels of above-grade parking and one level of below-grade parking that would accommodate 266 parking spaces on the site, which is a block from the Nicollet Mall light-rail station.

To make way for the development, a two-story and a four-story office building would have to be demolished.

According to Hennepin County property records, the property is owned by real estate investment firm R2 Cos.

Twin Cities developers Curt Gunsbury of Solhem Cos. and Robb Miller of TE Miller are partnering on the project, which the Minneapolis planning commission is scheduled to discuss Dec. 7.

Solhem and TE Miller have worked together on several Minneapolis rental projects including the Harriet Avenue Apartments along the Midtown Greenway and NoLo Flats in the North Loop.

The planning document said the project proposal meets specifications for the Downtown East/North Loop Neighborhood Master Plan.

If approved, it will be near the new 365 Nicollet, which will celebrate the framework of the top floor this month. That Opus Development project, which is located between S. 3rd and S. 4th streets, should be completed in the summer. It sits next two other recent Opus projects, the Nic on Fifth and Xcel Energy’s corporate headquarters.


Twitter: @nicolenorfleet