Downtown-based developer Alatus has proposed a new 13-story building with 320 apartments at 301 Washington Ave. S. — a site currently home to a parking lot across the street from the Depot.
The project will be reviewed by the City Planning Commission’s Committee of the Whole on Aug. 1.
The building would also house two commercial spaces on its first floor, a restaurant at the corner of Washington and 3rd Avenue and another commercial space at Washington and 4th Avenue.
Carl Runck, director of real estate development for Alatus, said residents will have access to "upscale amenities at both the rootop and skyway levels."
The goal is to have the building open in 2015, he said.
It’s just a few blocks from the area Ryan Cos.’ is planning a $400 million development with new office towers, housing and a new park near the Vikings stadium.
The building would also have two skyway connections and feature a “wide pedestrian promenade” along Washington Avenue, according to a report prepared for the Committee of the Whole.
"We're listening closely to the neighborhood and working with Hennepin County on integrating with the upcoming enhancements to Washington Avenue's streetscape," Runck said.
The high-end apartment rental market shows no sign of cooling down downtown as several projects are underway. The Journal’s development tracker is keeping tabs of 26 other apartment projects in the planning stages or under construction.
One of the larger projects — 222 Hennepin at Hennepin & Washington — is nearing completion. The project developed by Ryan Cos. and the Excelsior Group will soon be home to a Whole Foods grocery store, too, expected to open this fall.
The Alatus proposal is scheduled to be reviewed by the Downtown Minneapolis Neighborhood Association on Aug. 13.
Robert Lux, a principal with Alatus, was also involved in the Grant Park and Carlyle condo projects.