What’s New In Minneapolis?

April 14, 2021 by Joe Grunnet

Minneapolis is growing and improving as the city welcomes several exciting projects in the planning, construction and newly completed stages. Here’s a look at what’s new in Minneapolis real estate.

 

Eleven Tops Out

The state’s tallest residential building has officially topped out at its final height of 500 feet. The Mill District tower at 1111 W. River Parkway is now 41 stories tall and will be home to luxury condos starting at $900,000 and commercial space. Eleven is slated to be completed in early 2022.

 

Marcy-Holmes Project Planned

A new mixed-use project is being planned for a 2.73-acre site at 801 S.E. 9th St. The “American Spirit” project will include revitalization of the current industrial buildings on the site and construction of a new residential building for a total of 41,432 square feet of production space, 22 live/work units, 90 market-rate apartments, two athletic fields and parking.

 

240 Park Is Completed

240 Park Ave., just off Washington Ave. in Downtown East, is completed and currently leasing one- to three-bedroom apartments with panoramic skyline, U.S. Bank Stadium and Mississippi River views. Building amenities include a pool, sauna, fitness center, pet spa, yoga studio, and rooftop lounge, sport simulator and grill stations.

 

Affordable Housing Comes to the North Loop

A new 46-unit affordable-housing development is coming to a site between Glenwood Ave. and Holden St. N. in the North Loop. Shelby Commons, a four-story project with a playground and community garden, will include one- to three-bedroom units available to residents with incomes ranging from 30% to 80% of the median income. Seven units will be set aside for residents who have experienced homelessness, and five units will be reserved for people with disabilities. Completion is planned for mid-2022.

 

The North Loop Gets a Park

The Minneapolis Park and Recreation Board has officially approved the purchase of a surface parking lot along 3rd St. N. between 7th and 8th Avenues and plans to turn the property into a green space. The 25,000-square-foot space would be the first neighborhood park in the North Loop and fill the gap for the 2% of residents who do not live within a 10-minute walk of a park.

 

Mixed-Use Building Planned for Riot-Damaged Site

A building at 2815 E. Lake St. in the Longfellow neighborhood that was destroyed by the George Floyd riots will be replaced with a three-story, mixed-use building with ground-floor commercial space, eight apartments and parking. The exterior will be clad in a mix of brick, metal and cement-board siding and will feature balconies on the upper floors. Construction is scheduled to begin the spring.

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