Minneapolis-based Swervo Development Corp. plans to convert Elliot Park's Sexton office building, 521 S. 7th St. into 110 loft-style condos.
The seven-story, U-shaped Sexton is a few blocks from the Metrodome, a half-block from a skyway entrance and two blocks from the LRT line on South 5th Street.
Lofts will range from about $160,000 to more than $600,000, said Mike Roess, a real estate agent with Coldwell Banker Burnet. Units will average between 900 and 1,000 square feet.
A 3,000-square-foot rooftop deck will be accessible to penthouse residents.
"There is going to be a concierge at the door, grocery delivery and dry cleaning services," Roess said. "This is going to be a unique project."
Roess is in negotiations with street-level businesses in the Sexton Building over securing spaces in live/work studios.
Some tenants are looking at moving to new Downtown locations, including the Taste of Thailand restaurant and the 7th Street Art Gallery. David Wheeler, co-owner of the gallery, said he's looking at moving the studio to Nicollet Mall.
Larry Kahlow, owner of Eagle Magic, which has been in business since 1903 and in the Sexton Building since 1969, said he hadn't made a decision whether to move.
"This is all starting to unfold. We've been here a long time and we haven't considered the whole thing," Kahlow said.
The building is expected to be ready for residents within 14 months, Roess said. The developer will seek city approval for the project in December.
Nearly a third of the units have been reserved.
Swervo, led by Ned Abdul, is behind two other neighborhood condo conversions, including The Lenox, 24 flat-style lofts in a three-story brownstone at South 9th Street & Portland Avenue, and the American Trio building, a 66-unit condo conversion at 616 3rd St. The Lenox project is expected to open in October.
More information on the Sexton lofts is available at The Lenox, Thursday-Sunday, 12-4 p.m.