The City of Minneapolis Planning Commission will consider on Monday a mixed-use development project in North Minneapolis that could bring 103 apartment units and ground-level retail space to the neighborhood.
Dean Rose lost his third-generation family liquor store at West Broadway and Penn Av. in 2011 when a tornado tore through the intersection and is using that as an opportunity to take the block in a new direction.
"I think what happened with the tornado was a turning point for us," Rose said. "There had been concepts we had discussed in the past, and so we started thinking 'What else can we do besides putting our business back together?'"
Rose said he started toying with the idea of a mixed-use project on the highly trafficed site eight years ago, but the housing crisis of 2007 -- which hit North Minneapolis hard -- thwarted those plans.
Now, he said, "We are leveraging our insurance proceeds into rebuilding a project that is much bigger than what we lost."
Private-dollar investments have been scare in the neighborhood, which is why Rose says his project is unique.
Affordable yet chic housing is a primary focal point of the project, called Broadway Flats. Rose said the neighborhood produces young talent who often go on to work downtown, but can't find housing suitable to their wishes back in their neighborhood.
He hopes to change that.
"It was imperative to me that we provide a level of housing of the same caliber in the rest of the city and in the suburbs," he said.
