The Minneapolis Planning Commission on Monday approved 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 W. Broadway and Penn Avenue N. in 2011 when a tornado tore through the intersection. He hopes to turn destruction into opportunity for the block.
"I think what happened with the tornado was a turning point for us," Rose said. "We started thinking 'What else can we do besides putting our business back together?' "
Private-dollar investments have been scarce 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 talented people who often go on to work downtown, but can't find housing suitable to their wishes back in their neighborhood.
"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.
The complex will offer studio, one- and two-bedroom units for $730-$1,100/month, he estimates, and amenities such as underground parking, a community room, bike storage and a fitness room.
He hopes that the proposed bus rapid transit line will create energy and activity in the area to draw young tenants and customers to the retail, especially if Broadway Flats receives the transit hub designation.
