Address: 17710-24 Old Excelsior Blvd., Minnetonka
Type: Senior housing
Units: 97
Cost: $25 million
Developers: Mesaba Capital Partners, Roers Investments
Details: A development team that turned an underutilized site in Richfield into new senior housing has won approvals for a similar effort in Minnetonka.
Edina-based Mesaba Capital Partners and Roers Investments of Long Lake recently broke ground on an 88-unit senior housing project on Pillsbury Avenue in Richfield, the one-time site of a municipal maintenance garage. In that case, the city was looking for high-density housing to kick-start reinvestment in the neighborhood.
Likewise, Minnetonka's Village Center master plan for the area around the Hwy. 7/Hwy. 101 intersection calls for new apartments one day lining the north side of Old Excelsior Boulevard, "activating" the streetscape. The Havenwood of Minnetonka project will replace a pair of small office buildings on a combined 2.5-acre lot.
