Minneapolis panel gives initial approval to Elliot Park apartment project
Kirkland, Wash.-based Weidner Apartment Homes is partnering with Twin Cities-based developer Dan Hunt to build 245 market-rate apartments on a 1.7-acre site at E. 14th Street and Park Avenue in the Elliot Park neighborhood. Weidner has acquired several Twin Cities apartment buildings, but this is its first new building in the city.
The site included a Minnesota Aids Project office building and First Church of Christ, Scientist building, which could become some kind of resident amenity space, according to a city planning report filed in advance of the April 11. Any changes to that building would have to be reviewed by the Heritage Preservation Commission.
The six-story building would include 2,500 square feet of retail space at the corner of 14th Street and Park Avenue, 288 underground parking spaces and a large courtyard with a swimming pool, grills and patios. Project architect, BKV, said the design is intended to be pedestrian friendly with walk-up units and a storefront cafe. Balconies will be large enough to encourage residents to use them as outdoor living space.
Rents haven't been announced, but in downtown they range from an average $1.75 to $2 per square foot.
The project is one of several ambitious redevelopment projects that are likely to transform a part of the city that hasn't seen significant development in decades. Kraus-Anderson recently broke ground on a full-block redevelopment that will include a new six-story headquarters building, a brewery, a hotel and an apartment building. A 17-story luxury condo building at 9th and Portland Avenue is also nearing completion.
The city staff recommended approval of several variances, but a rezoning request has yet to be made.
From small businesses to giants like Target, retailers are benefitting from the $10 billion industry for South Korean pop music, including its revival of physical album sales.