Northeast Minneapolis may see yet another residential tower proposal near Hennepin Avenue.
Golden Valley-based Mortenson Development is considering a 20- to 30-story mixed-use high-rise at 333 Hennepin Ave. E. on the site of a U.S. Bank.
The developer shared preliminary plans with the Nicollet Island/East Bank Neighborhood Association that includes a sizable tower development with ground-level retail, several levels of above-ground parking and approximately 250 market-rate rental units, NIEBNA President Victor Grambsch said.
The development would also include a new space for a U.S. Bank branch, he said. Minneapolis-based Cunnigham Group is designing the high-rise.
Mortenson’s project would be just northeast of Surdyk’s. West Photo, a long-time Northeast Minneapolis business, is also on the block. Neither of the businesses are included in development plans.
“We are currently evaluating options with the City of Minneapolis and the Nicollet Island-East Bank Neighborhood Association for a mixed-use development at 333 East Hennepin Avenue in Minneapolis that would provide for the continuing operations of US Bank on site with additional residential and retail services for the neighborhood,” the developer said in a statement. “Our goal is to provide a thoughtfully-designed, pedestrian and neighborhood-friendly development in this active, well-established corridor of the city.”
Grambsch said preliminary plans are consistent with the neighborhood group’s small-area plan. NIEBNA has also worked with several high-profile projects such as Lennar Multifamily Communities’ Superior Plating project and Schafer Richardson’s high-rise with Nye’s Polonaise Room.
The project would be just across the street from the 20-story Superior Plating development, which has had to deal with long-term pollution issues on the site. Grambsch said pollution may stretch under the site, but wouldn’t likely have major effects on development.