36-story apartment tower planned for Loring Park

Share this:
August 15, 2011 // UPDATED 10:22 am - August 19, 2011
By: Sarah McKenzie
Sarah McKenzie

A Chicago developer is planning a 36-story, 355-unit luxury apartment tower in the Loring Park neighborhood.

Magellan Development had initially planned condos for the site at 14th & LaSalle, but that project stalled when the condo market tanked.

The proposal for the high-end tower is scheduled to go before the Minneapolis Planning Commission in October, said Brian Gordon, vice president of Magellan Development.

The project is expected to cost more than $100 million. If it clears the city approval process, pre-leasing would likely start next February. The target for completion is February 2013.

The apartment project, like many others in Magellan's portfolio, would offer many high-end perks for residents, including a 24-hour doorman, lap pool, hot tubs and gardens, Gordon said.