Each issue the Development Tracker follows construction projects around downtown and Northeast Minneapolis
333 Hennepin Ave. E.
Mortenson is still on track to break ground sometime this fall on a 26-story apartment tower in the Nicollet Island-East Bank neighborhood. Development Manager Brent Webb said they are still planning a 262-unit, mixed-use building at 4th & Hennepin to replace a former U.S. Bank location, which has since moved to the other end of the block. The tower would feature two retail spaces for a total of about 4,500 square feet. If the Golden Valley-based developer breaks ground later this year it should be opening the building around the end of the 2019. Mortenson hasn’t announced branding or any retail tenants. Just across the street, Lennar Multifamily has begun leases at NordHaus, a mixed-use project featuring a 20-story apartment tower.
113 3rd Ave. S.
ICM Realty Group
ICM Realty has finished the renovation of Mill Place, rebranding the 120-year-old building as the Barrel House. The international real estate investment and management firm purchased the building and two other properties near the Mill District last March. Through the renovation, ICM sought to restore the building to its original brick and timber roots and add modern amenities like a rooftop deck, an atrium lounge, meeting spaces and redesigned common areas. Ryan Cos. will manage the property and Brent Erickson, Jim Montez and Nick Sveen with Cushman & Wakefield are handling leasing. The building is nearly fully leased, a spokesman said, though ICM expects to have vacancies later this year and early next year. ICM plans to renovate offices as they become available.
625 4th Ave. S.
The Hennepin County Board is expected to vote in late September on the $55-million purchase of Thrivent Financial’s downtown headquarters. County officials say buying the 17-story rose gold office building will allow them to consolidate some of the county’s 129 properties spread across the state. The sale would include the $11.5-million purchase of 332 parking spaces, which would be a part of a parking ramp and apartment building proposed for the same block. Thrivent is planning to build its own headquarters across the street and would pay rent to the county while it constructs the new offices.
10th Ave Bridge
10th Avenue Southeast
City of Minneapolis
The City Council recently approved a request for proposals for design services in order to repair the 10th Avenue Southeast River Bridge. The City of Minneapolis has revived efforts to repair or replace the 1929 bridge after several years of looking for funds. Earlier this year, the city secured nearly $32 million in State Bridge Bond funding. The city’s preferred course of action is to rehabilitate the bridge and replace its decking. The project would cost approximately $42.5 million, about $30 million of which would be for construction costs. City staff expects to award the bridge engineering design services contract in November. The city expects to have a full design in December 2018 and to begin construction in 2019.
600 N. 1st Ave.
City of Minneapolis
After several phases of construction, the Target Center is on track to reopen in October in time for the Minnesota Timberwolves’ Oct. 20 home game, a spokeswoman said. The multi-use arena is nearing the end of a roughly $140-million renovation that has added a new glassy atrium, a new scoreboard and an overhauled exterior design over the past couple years. “As everyone who has passed by the arena in recent months has likely seen, the metal panels continue to march across the surface and the new atrium is coming to life,” Ted Johnson, the teams’ chief strategy officer, said in a statement. The city-owned entertainment complex has been shut down for several months during the last leg of construction.
505 6th Ave. N.
Nicollet Mall-based United Properties has submitted updated plans to the City Planning Commission for a Fillmore concert and event venue, its affiliated barbecue restaurant and an Element by Westin hotel. The proposal, which went before the CPC on Sept. 18, includes a 156-room hotel, a 2,000-capacity theater and 35 enclosed parking spaces. The building is proposed for a vacant North Loop site near Target Field Station where the developer had first proposed an office building. The plans would require several variances for signage and off-street loading.
Broadway Street Apartments
80 Broadway St. NE
The Zoning & Planning Committee voted Sept. 14 to approve the rezoning of a property along Broadway Street Northeast for an approximately six-story apartment building. North Loop-based developer Curt Gunsbury released preliminary plans earlier this year for a nearly 100-unit apartment building at the corner of Broadway & Marshall in the St. Anthony West neighborhood. Updated plans keep the proposed building’s 49 parking stalls and 98 bike parking stalls. The project requires a rezoning to C3A from C2, a conditional use permit for height — an elevator overrun technically makes it eight stories — and variances for the floor area ratio and minimum rear yard setback. If approved, Gunsbury and his Solhem Cos. plan to break ground this fall and complete construction next fall.
695, 699 Lowry Ave. NE
City of Minneapolis
City Council members have approved the $157,000 sale of two city-owned buildings on Lowry Avenue in Northeast Minneapolis. The developer, an entity called California Building Co., has agreed to renovate the buildings into artist studios and production space and an apartment for the property owners. The agreement with the city also calls for pedestrian-scale improvements like lighting, signage and art incorporated into the façades, in addition to potential green features like a storm water garden, bike racks or organics composting. Renovation work will begin within 60 days of the closing date of Jan. 31, 2018. The new owners include Josh Blanc, Layl McDill, Malcolm Potek and Kara van Wyk.
125 1st St. N.
The Foundry Home Goods has temporarily moved to a nearby building as part of the first sign of progress on a project that would revamp its high-profile North Loop block. Developer Howard Bergerud unveiled a plan earlier this year to build a mixed-use complex featuring 156 residential units, 46,000 square feet of commercial space and nearly 50,000 square feet of office space spread across several structures. The home goods store’s building is being rehabilitated as part of the project. The two other pieces of the proposal are a six-story residential building along Second Street North and a five-story office building that would replace two small non-historic buildings on the block.
Loring Grove Apartments
125 Oak Grove St.
JLL has purchased the Loring Grove Apartments in Loring Park for about $9 million, according to a certificate of real estate value filed in Hennepin County in early September. The 1912 building, located near the intersection of Oak Grove & Spruce near the park, sold in 2014 for nearly $7 million. The three-story building has 64 units.