Another hurdle has been cleared to pave the way for an apartment complex for middle-wage workers near U.S. Bank Stadium.
Real estate notebook: New apartments near Vikings stadium take a step forward
Another hurdle has been cleared to pave the way for an apartment complex for middle-wage workers near U.S. Bank Stadium.
August 5, 2016 at 3:17AM
On Monday, the Minneapolis Planning Commission approved several conditional use permits and plans for a mixed-use, development across 6th Street S. from the stadium that includes 159 affordable housing units, an underground parking facility and 12,400 square feet of commercial space that is anticipated to become a sports and health facility.
Developer Ryan Companies, First Covenant Church, Community Housing Development Corp. and UrbanWorks Architecture have been working on the $38 million project.
The new six-story building will be a little more than 211,000 square feet and replace the existing parking lot. East Town Apartments will offer studios to three-bedrooms for people earning 50 to 60 percent of the area median income.
Underground parking will be added as well as a 48-stall parking lot with a public bike hub. The existing church buildings are undergoing mostly interior upgrades.
The church conducted a land swap with the owners of the site of the former Hubert's Cafe and Sports Bar, which gave the restaurant (to be reopened as Erik the Red) closer parking and freed up space on the corner for the new apartment building.
An unnamed private partner has plans to rent the apartment building for its workers during Super Bowl festivities.
DoubleTree Suites sold
The DoubleTree Suites in downtown Minneapolis has changed owners.
The all-suite hotel on the corner of LaSalle Avenue and 11th Street was acquired by New Orleans-based developer HRI Properties, which also owns and manages the Embassy Suites by Hilton Minneapolis Downtown hotel that is slated to open later this month. HRI Lodging (HRIL), a subsidiary of HRI Properties, will manage the hotel.
"DoubleTree Suites by Hilton Hotel Minneapolis is an excellent fit for our portfolio," Gary Gutierrez, HRIL president and chief operating officer, said in a statement.
Starting early next year, the DoubleTree will undergo $3.5 million in renovations to the suites and the common areas, the company announced. Terms were not immediately available.
Nicole Norfleet
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