Each issue the Development Tracker follows construction projects around downtown and Northeast Minneapolis
228 S. 12th St.
Alatus has unveiled to a downtown neighborhood group plans for a 20-story tower near the Minneapolis Convention Center. The tower, proposed to replace a vacant one-story building on the same block as Hotel Ivy, would feature 200–300 units. The Minneapolis-based developer shared a preliminary proposal with the Downtown Minneapolis Neighborhood Association in mid-October. Whether the units will be condos or apartments hasn’t been finalized.
700 Nicollet Mall
Fans of the downtown Macy’s building got a peek into a potential future of the Nicollet Mall landmark when concept renderings leaked online. New York-based firm 601W Cos., which bought the complex in March for $59 million, announced a plan earlier this year to build out creative office space on the upper floors and retail on the street and skyway levels. Illustrations of a renovated Macy’s building that were posted online in October showed a food hall, a restaurant on the main level and a two-tiered rooftop deck. The images, dubbed “the Dayton’s Project” feature several retail stores along the first and skyway levels, a bowling alley and office space. The building would adjoin the Radisson Blu Hotel under the proposal.
Central & Lowry
938-966 Lowry Ave. NE
City of Minneapolis
The City of Minneapolis hopes to attract a developer to build on a site at Lowry & Central in Northeast Minneapolis into a “mixed use, mixed income” building. The City Planning Commission Committee of the Whole recently reviewed the acquisition of the eight-parcel site, which now features a community garden and a salon, for consistency with the city’s Comprehensive Plan. The city hopes to buy several properties to assemble the site and resell it to a developer.
200 Central Ave. SE
Minneapolis-based Alatus has started demolishing buildings on the site where it plans to build a high-profile condo tower. The developer has begun removing the former Washburn-McReavy Funeral Chapel and the St. Anthony Athletic Club, two historic buildings that it purchased to make way for a roughly 40-story residential tower with more than 200 condos, a restaurant from restaurateur Ryan Burnet and other commercial space. The unnamed proposal has been challenged and delayed in the courts by a community group over the past year.
10 2nd St. SE
What was once Nye’s, a beloved landmark bar, is now Montage, an apartment building that will open to its first residents in November. The 72-unit complex on East Hennepin Avenue incorporates two of the former Nye’s buildings and includes about 8,000 square feet of retail space. Maureen Michalski, Schafer Richardson’s director of development, could not disclose tenants, but a restaurant group called the Sonder Shaker recently presented plans for an eatery in the building. Rents listed online range from $1,400 and $1,500 for a studio apartment to $7,500 for a three-bedroom penthouse unit. Steven Scott Management will manage the property.
315 7th Ave. N.
Greco Properties and Opus Group will open Variant in the North Loop on Nov. 19. The six-story mixed-use building, which replaced the one-story ABC Industrial Storage building on 7th Avenue in the neighborhood, features roughly 140 apartments. Variant includes about 14,400 square feet of retail space, two levels of underground parking and walk-up units. Greco President Josh Brandsted could not disclose tenants as of mid-October. Floor plans and more information on the property are available at variantmpls.com.
505 6th Ave. N.
The City Planning Commission has approved several variances for signage and other design features for a new Fillmore theater proposed near Target Field Station in the North Loop. Nicollet Mall-based United Properties is proposing a 2,000-capacity theater and a restaurant, along with a 156-room Element by Westin hotel. The eight-story project would feature 35 enclosed parking spaces. The Minneapolis Fillmore would be expected to host about 150 shows a year and draw in 150,000–200,000 people annually.
401 University Ave. SE
The City Planning Commission has given the green light on the conditional use permit, site plan review and several variances for a new apartment complex near the University of Minnesota. CPM is proposing a five-story building with 43 units — 39 one-bedroom units and four efficiency units — at 4th and University in the Marcy-Holmes neighborhood. The proposal requires variances for floor area ratio, setbacks and the amount of required parking. The building as proposed would have 18 enclosed parking stalls, though the CPC added a condition for additional bike parking. Two homes on the site would be demolished as part of the project.
General Mills site
200 University Ave. SE
The Heritage Preservation Commission denied a certificate of appropriateness to allow for a proposed 26-story residential tower in Marcy-Holmes. The proposal, a full block apartment tower and plaza from Doran Cos. and CSM, has been in the works since the summer. Updated plans now show a 26-story tower, up from 22 stories, with 427 parking stalls and 374 units, which is just a bit more than what was originally announced. Commissioners found the project’s height, configuration and prominence over nearby grain elevators incompatible with design guidelines for the area.
280 N. 2nd Ave.
SR Realty Trust
SRRT Lee, LLC, recently announced it has purchased Lee Lofts, a 24-unit residential building in downtown Minneapolis, for $3.25 million. The company is an affiliate of SR Realty Trust, Inc., a private real estate investment trust managed and advised by Minneapolis-based Schafer Richardson. The seller was longtime owner Harmony Lofts, LLC. CBRE arranged the sale and arranged $2.2 million in long-term acquisition financing for the property. The 1906 building was renovated in 2015 and was 96-percent occupied at the time of closing.