LPM Apartments holds topping off ceremony, could open by May

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December 10, 2013
By: Ben Johnson
The LPM Apartments are ahead of its construction schedule and could open by May
Ben Johnson
Ben Johnson

Nearly all of the concrete has been poured in the 36-story LPM Apartments project in Loring Park, and the building could see its first tenents in May.

Executives from Magellan Development Group, the Chicago-based developer which owns the building, and officials from several of the construction companies working on the project were on hand to witness the topping off ceremony Dec. 10. A topping off ceremony is a Scandinavian tradition in which an evergreen tree is hoisted to the top floor of a building once that floor has been completed. Topping off is supposed to signify growth and bring good luck to the building.

Ground was broken on the 354-unit luxury apartment complex in October of 2012, and crews began building vertically last March, raising the tower an average of two and a half feet per day.

Eventually it will contain 29 studio, 263 one-bedroom, 61 two-bedroom and a single three-bedroom apartment. The structure is the tallest residential building currently under construction in Minneapolis, offering impressive views of the Minneapolis skyline.

"We were looking to do something a little different than what everyone else is doing [in Minneapolis]," said Dave Carlins, president of Magellan. "We were trying for a contemperary, yet respectful exterior with a shape that maximizes views."

Rent is expected to range from $2 to $3 per square foot. A fitness center, a private dog excercise and grooming facility, a splash pool, a business center and fire pits highlight LPM's luxury amenities. Overall more than 40,000 square feet of the project's 600,000 total square feet is dedicated to amenities. There will also be more than 20,000 square feet of retail space.

Carlins said a leasing office will open in late January and hopes construction will be completed by May.