Centre Village hotel will become condos

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May 17, 2004 // UPDATED 1:37 pm - April 25, 2007
By: Sarah McKenzie
Sarah McKenzie

A Downtown hotel is going condo.

The Centre Village Executive Suites hotel, 431 S. 7th St., is converting to condominiums, said hotel General Manager Pete Fowler.

Executive Suites takes up the top two floors of the 27-story Centre Village building. The studio and one-bedroom suites will now be sold as 52 individual condos. One has already sold, Fowler said.

The move leaves Fowler and three other employees without jobs, he said. The hotel closes June 1.

The rooms feature panoramic views of Downtown, a small exercise room and a common deck on the 27th floor. "The views are very, very nice," he said.

The condos target the lower end of the market, Fowler said, selling for $80,000 to $100,000. Hotel rooms are currently $75 to $95 per night.

The suites are on the small side: 411 to 774 square feet.

The condo conversion adds to Downtown's housing boom. There are scores of housing projects under construction and several more in the development pipeline.

The condo craze reaches all Downtown neighborhoods, including Loring Park, the North Loop and Elliot Park. Centre Village is in the Downtown Minneapolis Neighborhood Association, which covers the Central Business District and Mississippi riverfront west of Hennepin Avenue.

Another Central Business District condo conversion, SixQuebec, recently opened at 601 Marquette Ave. SixQuebec features 21 high-end condos converted from office space in the former Firstar Bank Building.