Tim Baylor, a former Vikings football player and North Side business owner, is moving forward with a $60 million project in north Minneapolis designed to bring a mix of market-rate and affordable apartments to W. Broadway.
Crews are expected to break ground by next spring on the Satori Village project, which falls in a federally designated Opportunity Zone, and includes 198 units of blended "market quality" and affordable apartments. Demolition for one of the existing buildings on the site will begin next month.
The combination of affordable and market-rate rental options is badly needed in north Minneapolis, said Baylor, chief executive of the JADT Development Group, which is developing the project.
Baylor noted that Minneapolis' North Side absorbed more than 350 units of affordable housing in 10 years but developed no new market-rate apartments during the same period.
"Our perspective is that north Minneapolis needs more than just one kind of new housing. We need more variety, including market-quality options to attract people of varying income levels to live in our community," said Baylor, who owns the McDonald's restaurant across the street from the build site as well as seven others — including two in south Minneapolis.
As for expanding his presence in north Minneapolis, "I am excited about this new project. I am excited about what it can do for the community," he said in an interview. The new project is Baylor's latest effort at building multifamily apartments. Baylor's development firm previously built the luxury Riverview Townhomes near West River Road in 2004.
Since moving to Minneapolis 41 years ago, Baylor worked for years as McDonald's Midwest real estate representative and serves on the boards of Meet Minneapolis and the Minneapolis Foundation. Real estate is at the heart of his business interests, he said.
So far, Satori Village has received city approval for the first two legs of the three-phase development. The building will sit next to the parking lot of the recently rebuilt Cub Food Store at 701 W. Broadway. It was badly damaged during rioting in May, following the police killing of George Floyd.
JADT officials said they hope the new project will contribute to the rebuilding and economic prowess of the region.
Under the first phase of the plan, a six-story "Satori Boutique Apartments" will rise on the 800 block of W. Broadway on the corner of N. Bryant Avenue. It will offer 112 units, 80% with market-rate rents, with concierge services, street-level retail space, and 82 parking stalls below ground.
Satori Village will replace a run of old one- and two-story brick buildings with storefronts and a handful of apartments. One house on the development site will be moved, another demolished.
Under the second phase of the project, a four-story "Satori Lofts" will sit east of the first building on W. Broadway and feature 26 units and 1,161 square feet of street-level retail space. About 38% of the lofts will have affordable rents.
Lastly, a Satori Senior Living complex marks the third phase of the project. If approved, it will offer 60 units of senior housing on Bryant Avenue.
In addition to JADT Development, other project partners include the general contractor Doran Special Projects and LSE Architects.
Baylor, who is Black, grew up in Washington, D.C., and played for the Minnesota Vikings in 1979.
He said he expects Satori to have wide appeal, especially among young professionals because it's close to downtown, mass transit and interstates 94 and 394 and Hwy. 55.
The project is being funded by local private investors, the U.S. Dept. of Housing and Urban Development and the Local Initiatives Support Corp. Because the building site is in a federally designated Opportunity Zone, investors are eligible for certain tax breaks.
Separately, city officials confirmed they are working with JADT on its tax increment financing application. JADT also applied for transit-oriented development funds from Hennepin County.
