United Properties will build a senior-living community in Minnetonka on 8 acres of land it finished purchasing this week, company officials said.
The six-story development will feature 186 units intended for residents age 55 and older. A portion of the units will have affordable rents while the rest will feature market-rate pricing, said officials who did not disclose overall project costs.
Construction is set to begin in the spring and be completed in early 2023.
The Pointe Minnetonka will be designed by ESG Architecture & Design and will be built by Weis Builders. It will feature underground parking, a golf simulator, an outdoor pool and hot tub, community gardens, art and fitness studios, a large community room and a "sky lounge."
It's the latest independent "senior housing" project of this rental type in the Twin Cities for United Properties, the property-development arm of the Pohlad family. The company just opened a senior-living facility in Roseville and recently broke ground on a senior development in Bloomington. It also has senior-targeted housing properties being developed in Eden Prairie, Prior Lake, Apple Valley and the Lake Elmo area.
"We have experienced strong preleasing success at our other locations in Roseville and Bloomington, and we hope to continue that momentum with this new offering," said Rick McKelvey, United Properties senior vice president of development. "We chose this location because it allows us to create an oasis for our residents in the existing lush and serene environment while still offering immediate proximity and easy access to the greater Twin Cities metro."
The location is in walking distance of Carlson Towers restaurants and businesses and close to Interstate 394 and I-494.
Five acres of the 8-acre development site at 801 Carlson Parkway will be used to create the senior-housing building. The other 3 acres will be held for development at some future date.