Thrivent Financial has plans to sell its last remaining surface parking lot near its headquarters in downtown Minneapolis to a developer who wants to build an apartment complex and diner.
The potential project would be the last piece in a massive, multi-block development of a part of downtown that has rapidly been transformed from parking lots to high-rises.
Thrivent has entered into a purchase agreement with local restaurateur John McCarty to sell its Smith parking lot on the corner of 5th Avenue and 7th Street next to the Sexton Lofts. McCarty plans to build a six-story, 190-unit apartment building. The apartments would mostly be micro units around 500 square feet in size, McCarty said.
McCarty, who also owns the New Uptown Diner in south Minneapolis, said he plans to include a 3,000- to 4,000-square-foot diner that would serve breakfast and lunch on the first floor. The restaurant would be a welcomed addition to a developing East Town district that is still an eatery desert, McCarty said. There are plans to include underground parking as well.
"I think East Town is very exciting," McCarty said. "It's an amazing, brand-new neighborhood."
McCarty is just beginning the entitlement process with the city with the hope that construction would start next spring and take a little more than a year to finish, he said.
The project would be built by Weis Builders and designed by DJR Architecture, which is busy with several developments throughout the Twin Cities including in Edina.
Thrivent leaders announced the plans at the Wednesday afternoon groundbreaking for its new headquarters, which will be built near its current offices.
