Two buildings along Central Avenue Northeast are set to see new life this fall.
Bader Development and Nolan Properties Group expect to begin construction by next month on the 700 and 708 Central Ave. NE buildings to turn them into 700 Central Lofts. The project will bring 80 market-rate apartments and roughly 6,000 square feet of retail space to the tip of the Nicollet Island-East Bank neighborhood.
Robb Bader, vice president of Bader Development, said they’re looking to close on the historic buildings within the month and will immediately begin a yearlong construction on the four-story timber building at 700 Central and the seven-story concrete building at 708 Central. The conjoined warehouses have seen a number of development attempts in the past, but have sat vacant.
Bader said they’re close to finalizing the terms with a restaurant tenant for the retail space. A parking ramp split below ground and on one above-ground level will hold approximately 150 stalls for both residential and retail.
Kaas Wilson Architects is handling the project’s design.
Bader expects to begin construction by Nov. 1 and to finish a 12-month construction next fall.